Topic: Why bitcoin is not supported in some countries? - page 71. (Read 98470 times)
i think the most popular reason why bitcoin be banned in some country is the government can not control bitcoin because bitcoin is anonynous so they can not charge taxes on bitcoin transactions, futhermore bitcoin is virtual coin and unstable, so the governments wont let anything that they can not control to be legalized.
they do not support bitcoin because they think it don't enough legal and has very ricky
Most countries are afraid that when bitcoin is accepted in their country it's going to devalue their own local currency which will be bad for their economy and in some ways they are correct about that.
they do not support bitcoin because they think it don't enough legal and has very ricky
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
in our country philippines bitcoin is not legal i think because banks dont recognize this coin. some reason will be because bitcoin is not traceable they can use it in illegal way that why government dont legalize bitcoin.
This is the most ridiculous comment I've ever read in this forum about bitcoin. Bitcoin is legal on the Philippines, in fact, the Central Bank of the Philippines is accepting bitcoin, but not an investment(not yet). So, I'm wondering, how could you say that bitcoin is not legal on our country, the government doesn't just notice is because they thought that it was just a scam, but we all know that it is not.
The black of support it's supposed to be getting isn't found in most countries so most government don't see the need to support it
The government must be able to control anything including the financial system, if it can not control it will threaten the country's economic stability.
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 have heard that bitcoin is not supported in some countries. But why ?
----Bec some countries are not yet advanced in terms of technology. For advanced countries (first world countries) is bec bitcoin is decentralized so government cannot control, 2ndly bec bitcoin is used to trade in blackmarkets. Tax free with hugeamount!
What does my gpu actually do?
----In solves a hashing problem to the internet, if u send bitcoin to another wallet it mentioned how many confirmations right? like normally 3-6 confirmations b4 it will be received. Your GPU solves those confirmations!
Im amazed how u able to this advanced things without knowing what it does. You only focus on the money you will gain lols
Cool man!
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 it depends on the country where you are in. All countries have different laws that need to obey. In the topic about why is not supported because I think their country is not accepted those online currency that there are some people who still not believe on it.
its fair by their country.
if some country rejected, its mean they believe bitcoin too risky for their government and their people (although most people use and get the advantage from bitcoin). they must be have some reason why reject it. and you must appreciate about their regulation
if some country rejected, its mean they believe bitcoin too risky for their government and their people (although most people use and get the advantage from bitcoin). they must be have some reason why reject it. and you must appreciate about their regulation
I think the very reason why they are not in favor of utilizing bitcoin or any sort of digital currencies is that it's decentralized in the first place which means they don't have the control of it. They might also fear for economical destabilization and of course, bitcoin can be use for any illicit activities which government could not trace.
I think the government of every country cannot grasp or hold bitcoins because it's decentralized. Plus the price is really unstable and I'm sure government analysts have thinked about what to make of bitcoins and I'm sure they too are afraid to take a plunge of bitcoins. It has a volatile price trend therefore it is hard to fully invest on bitcoins. Countries avoid these sudden large losses because of the sudden price fluctuations.
Most countries certainly do not want that the economy is controlled by the majority owner of bitcoin, we certainly know that bitcoin is decentralized so it is impossible for the state to control when using officially.
In addition, they do not receive any tax credits from bitcoin. If people have to go through the banking system while in an other country to get some cash it will subject them to taxes and other kinds of banking fees. It's not good for the countries.
Theres a lot of reason why bitcoin is not supported and supported in some countries. But lets talk why some of countries they dont support bitcoin. Maybe because they find that as treat of there government or treat on how they improve there country using bitcoin. You know all of the government individuals has pride. They have their own beliefs and choices. They dont support bitcoin maybe because they dont like the bitcoin manage there country. One thing I know is that bitcoin is one of the most powerfull businees online. So they should have to deal with it so that their country are become popular.
One of the reasons is they consider it as a virtual currency or not real currency. With this, people are getting a lot of money from bitcoin but they don't get taxed. Other countries legalize bitcoin but, they were able to put different rules and regulations in using it.
Their countries , their laws. It really depends on your definition for not supported too . If we speak about banning then as far as I know I don't think there is a country that actually banned bitcoin , at least nothing official and If there is then Its related to the banking system with one way or another . If its about the lack of usability in ATMs , local shops then there are plenty of countries and It takes time as some countries have more priorities .
Some countries are not supported Bitcoin because in Bitcoin system, many banking system hampers by Bitcoin online business. Bank didn't get any interest or tax through Bitcoin. The government does not get any tax from Bitcoin. So that many countries are not supported it. 
There are many reasons why bitcoin is not supported in some countries.
Mostly, because the goverment don't really care about bitcoin and don't think it is something they need to interfere.
And also, there are some countries whose technolgoy aren't that great yet, and it'll be hard to legalize or use bitcoin there.
Mostly, because the goverment don't really care about bitcoin and don't think it is something they need to interfere.
And also, there are some countries whose technolgoy aren't that great yet, and it'll be hard to legalize or use bitcoin there.
Obviously in every country they have different kind of money policy and rules, as a real currency their are some countries and government did'nt recognize bitcoin besides bitcoin can be use by the criminals like illegal activities,money laundering,scam which may cause for banning of the bitcoin in some countries.
Because the government has its own policy to manage the country. Bitcoin is out of government control, and some governments think bitcoin will affect the market economy, so bitcoin is forbidden. Bitcoin can also be used for crimes such as money laundering and drug purchases. The government can not trace criminals. So Bitcoin is forbidden. 
With regard to governments, the reason is that this goes from the current model of power in modern society. Regardless of this, I do not see many nations prohibiting the use of the forex, they favor to dismiss and not give publicity. Relating to folks in common, I consider it is nevertheless early days. Despite the fact that a lot of folks have access to the internet and numerous sources of data, they still have not realized the require for a currency to resolve the troubles that exist in fiat currency.
Most countries certainly do not want that the economy is controlled by the majority owner of bitcoin, we certainly know that bitcoin is decentralized so it is impossible for the state to control when using officially.
In addition, they do not receive any tax credits from bitcoin. If people have to go through the banking system while in an other country to get some cash it will subject them to taxes and other kinds of banking fees. It's not good for the countries. Jump to: