I have heard that bitcoin is not supported in some countries. But why ? Is it because bitcoin is risky ? Some countries even declare 6 months jail if her people use bitcoin. Is it fair ? I mined few cryptos and have left mining. It was fun and challenging too. But I never got any clear answer. What does my gpu actually do ? I pay electric bill, my room temperature goes high and I get paid. With actually no skill on pc hardware and software. Whole thing is still pretty unclear to me
I absolutely agree to that, bitcoin is still not supported in some countries and I think they have many reason why they still not supported it. In addition, I think one of the reason is the tax because bitcoin is a tax free then we all know it is decentralized so that they do not controled it. 
Topic: Why bitcoin is not supported in some countries? - page 70. (Read 98470 times)
Governments, bankers and other small people need their cut.
They want to control cryptocurrency. But it's just a question of time when it will be
free for use.
They want to control cryptocurrency. But it's just a question of time when it will be
free for use.
It depends on a country's laws and principles to abide when it comes to currencies and other financial means. Perhaps, in some regions of the world, they find it hard to deal with cryptocurrencies like bitcoin especially knowing that it is decentralized and its risk of investment is too high. Some may have in mind that being well-informed about it is needed before they'll go further with it.
I have heard that bitcoin is not supported in some countries. But why ? Is it because bitcoin is risky ? Some countries even declare 6 months jail if her people use bitcoin. Is it fair ? I mined few cryptos and have left mining. It was fun and challenging too. But I never got any clear answer. What does my gpu actually do ? I pay electric bill, my room temperature goes high and I get paid. With actually no skill on pc hardware and software. Whole thing is still pretty unclear to me
Sorry I have never heard of a country announcing jail for 6 months to people caught using btc. What do you mean by supported? If you mean supported as legal tender, then the reason for that is criminal activities using btc as a tool for money laundering and hiding other assets fro the government. Also a form of tax evasion.
The answer to you other question is your gpu and your rig is technically performing the back office work for the whole system of btc. In other words your pc is doing the accounting and verification of transactions. That is the easiest way to explain it.
I have heard that bitcoin is not supported in some countries. But why ? Is it because bitcoin is risky ? Some countries even declare 6 months jail if her people use bitcoin. Is it fair ? I mined few cryptos and have left mining. It was fun and challenging too. But I never got any clear answer. What does my gpu actually do ? I pay electric bill, my room temperature goes high and I get paid. With actually no skill on pc hardware and software. Whole thing is still pretty unclear to me
I think some countries do not support it yet, because they haven't learned what is bitcoin all about and what could be the positive and negative effects in their respective countries. I can't blame them, change is a really difficult thing to implement. I think that if bitcoin could capture their trust then they could implement it.
I think because Bitcoin, like any other traditional currency, can be used to launder money. Bitcoin is not provided with anything and no one is responsible to the owners of electronic money. Transactions with the cryptocurrency can be speculative. The absence of a control center in the system. The threat to the existing financial system.
This is one of the major reasons why bitcoin is to common in some of the countries. These are especially those countries which are developing ones or underdeveloped where people do not have internet connects available all the time and literacy rate is low. Bitcoin can only be sued by those who are educated and have some knowledge of computer but with increase in literacy, these countries will also use bitcoin.
The Nation State Bank exposes the currency privileged of their own owners and cause the stable format of the money.
I have heard that bitcoin is not supported in some countries. But why ? Is it because bitcoin is risky ? Some countries even declare 6 months jail if her people use bitcoin. Is it fair ? I mined few cryptos and have left mining. It was fun and challenging too. But I never got any clear answer. What does my gpu actually do ? I pay electric bill, my room temperature goes high and I get paid. With actually no skill on pc hardware and software. Whole thing is still pretty unclear to me
These countries may not have enough capabilities or any interest in cryptocurrency. Some countries have more important priorities to deal first. While some countries that even though have the capabilities but still banned the use of it because they don't want to risk itself because some claimed that cryptocurrency and criminality have correlation. Whether its true or not, we must still not lost the hope in cryptocurrency and what cab it do in the future.
every country is different. These countries are worried that Bitcoin will make their economy go down probably because there is a dominant thought that Bitcoin is something that is related to illegal activity or tax evasion. therefore every country does not use the bitcoin
Bitcoin is not supported in some countries because they say that bitcoin is being use in an illegal transaction such as drugs and terrorism.They can transact using bitcoin very easy and no problem so the government was alarm by this kind of transaction of criminals but in other hand also alot of people use bitcoin for good and earn bitcoin by hardwork but they are affected because of that illegal transactions and that is so disappointing to hear.
Some countries are bot supporting bitcoin because they think that the whole thing is just a scam because bitcoin is also risky. Some are afraid that bitcoin might rule over the banks.
Each country has its own laws according to the government. Mainly bitcoin never need bank. People are also afraid to use it. If bitcoin is accepted it will dominate the local currency.
I have heard that bitcoin is not supported in some countries. But why ? Is it because bitcoin is risky ? Some countries even declare 6 months jail if her people use bitcoin. Is it fair ? I mined few cryptos and have left mining. It was fun and challenging too. But I never got any clear answer. What does my gpu actually do ? I pay electric bill, my room temperature goes high and I get paid. With actually no skill on pc hardware and software. Whole thing is still pretty unclear to me
I personally think that this big wave of not support by governments is not because it's "risky", it's just because it changes the status quo of the financial system of each country. That's because we understand the money in a centralized way, and not as cryptocurrency was created: decentralized, with not attaches to banks. Mining and invest in cryptocurrency is incredible ok, and even more if you do it in projects like propthereum.io
There are a lot of reasons why such country doesn't support Bitcoin. As I see it, The people of the Government see that the legality of Bitcoin could be a hindrance for them. Why? Government officials are subject to disclose their assets in public which will be a threat for them. The improper declaration of their assets could cost them there position. Even though, The legalization of Bitcoin should be in favor for them. But not all Government officials are into the cryptocurrencies in which they will set that regulates the transaction of each and every one in that country. Stating that, Those Government officials who are preventing the legality of Bitcoin know the consequences once the law is passed and started to be regulated.
I think they are scared from bitcoin may be they think that bitcoin can disturb their economy and some countries want to use his people for his own work in order to collect a tax from them but I think it’s a wrong decision because bitcoin can help them in their economy and I the countries which accept bitcoin they can check the performance of bitcoin there.
I think there are some countries ban digital currency transfer, maybe they afraid that it would effect their own economy or they don't want their residents get involve in it
Are you sure? Why would they ban bitcoin? and why would it affect their economy?
Anyway, it won't affect their economy, in fact it could help some of their citizens bring in some money for themselves and use it in the local market. Would a government refuse something that they know could make their citizens atleast survive?
As you can see bitcoin is originally created for underground transaction so their government is prohibiting people from using it.
The question is, is government knowledgeable about crypto? or they are just asking their advisers about it?
I have heard that bitcoin is not supported in some countries. But why ? Is it because bitcoin is risky ? Some countries even declare 6 months jail if her people use bitcoin. Is it fair ? I mined few cryptos and have left mining. It was fun and challenging too. But I never got any clear answer. What does my gpu actually do ? I pay electric bill, my room temperature goes high and I get paid. With actually no skill on pc hardware and software. Whole thing is still pretty unclear to me
Perhaps, one of the reason why some countries don’t support bitcoin is because of he lack of knowledge when it comes to technology. Those countries are simply not confident and not comfortable with something they lack knowledge of.
I think there are some countries ban digital currency transfer, maybe they afraid that it would effect their own economy or they don't want their residents get involve in it
There are a lot of reasons why such country doesn't support Bitcoin. As I see it, The people of the Government see that the legality of Bitcoin could be a hindrance for them. Why? Government officials are subject to disclose their assets in public which will be a threat for them. The improper declaration of their assets could cost them there position. Even though, The legalization of Bitcoin should be in favor for them. But not all Government officials are into the cryptocurrencies in which they will set that regulates the transaction of each and every one in that country. Stating that, Those Government officials who are preventing the legality of Bitcoin know the consequences once the law is passed and started to be regulated.
I think they are scared from bitcoin may be they think that bitcoin can disturb their economy and some countries want to use his people for his own work in order to collect a tax from them but I think it’s a wrong decision because bitcoin can help them in their economy and I the countries which accept bitcoin they can check the performance of bitcoin there. Bitcoin is not known to all people in the world. And the Internet system is not very advanced in all the countries. There are many countries where Bitcoin is not a law to use. So Bitcoin does not support in all countries.
The topic of why some countries are banning the use of bitcoins is interesting. Surely this topic will raise many questions, one of them like whether bitcoin is a bad thing to the point of being banned in some countries ?. Speaking of blocking, we discuss the legality. Surely there are several reasons why some countries label bitcoin as illegal to block it. The status of bitcoin legality varies by country. It all depends on each regulation set by its government. Until now in some countries that have legalized transactions using bitcoin alone still do not have a clear regulation.
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