Why bitcoin is not supported in some countries? - page 72.

Portia12

full member

Activity: 434

Merit: 105

ADAB ICO

Quote from: malekbaba on December 20, 2016, 09:22:20 AM

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.

Kisanaq

sr. member

Activity: 700

Merit: 277

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.

anggun chan

newbie

Activity: 37

Merit: 0

According to the news I read from some State News does exist that do not support if its society is affiliated with bitcoin even there is also country banning him, the presence of the bitcoin as virtual currency reap the pros and cons in several countries. Bitcoin can be considered to facilitate financial transactions. However, transactions with this virtual currency can also bring up the risk of acts of money laundering. Therefore there are some countries that are still worrying about transactions carried out by bitcoin.

iamzill

sr. member

Activity: 677

Merit: 250

Quote from: malekbaba on December 20, 2016, 09:22:20 AM

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

maybe many bitcoin users are doing for fundraising for non-crime or it may cause big inflation to happen in the country, in my country because bitcoin has not been so accessible so maybe the government has not fully know it

Sihab76

full member

Activity: 1302

Merit: 100

Quote from: MadGamer on December 20, 2016, 09:29:10 AM

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.

Paycoinzzz

hero member

Activity: 994

Merit: 503

Quote from: nankers on November 12, 2017, 12:00:24 PM

Quote from: malekbaba on December 20, 2016, 09:22:20 AM

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 my countrty (Indonesian) bitcoin still ilegall.i dont know why.i think the government so difficult to cut off tax fees from bitcoin user.and its makes bitcoin still illegall in my country.but i hope in the future bitcoin will be legall ^^

Not difficult, if the government want to tax fees the Bitcoin user, they can tax the Bitcoin miner and exchanger.
I do not know your country have auto exchanger website or not, but in my country, we have a website help Bitcoin user can exchange automatic without any risky.
Therefore, if the government want to tax them, it is so easy!

lance04

full member

Activity: 462

Merit: 112

I think they not trust bitcoin so they cant support bitcoin why know bitcoin a big scam in the social world

xvids

sr. member

Activity: 1176

Merit: 301

Quote from: malekbaba on December 20, 2016, 09:22:20 AM

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

Maybe because it is decentralized and government has no power over bitcoin. They cannot do anything about it and they cannot completely regulate it. A lot of people are quitting their jobs because they want to focus on bitcoin. It's true that you can earn a lot of money that your salary from your job cannot provide you. Government cannot get any income tax from those people who are earning bitcoin. Maybe that's one of the reasons why they banned bitcoin.

T.water

newbie

Activity: 2

Merit: 0

Probably bitcoins is not traceable, just my opinion

Lamisa asfiya

member

Activity: 242

Merit: 10

Yes,it's true. some countries are not supported bitcoin like their regular currency.i think, maybe they are afraid to go down their economy.further, every countries have their own laws. and bitcoin can break them.so,they can't accept bitcoin.

miccb

newbie

Activity: 57

Merit: 0

If governments could see that they could get revenue from it or their economy could harness its benefit, bitcoin might be formally recognize

miccb

newbie

Activity: 57

Merit: 0

Probably bitcoin is not yet regulated by rules/laws. If there are some rules created, it might not be clear or precise. .

nankers

full member

Activity: 634

Merit: 118

Bounty Hunter Indonesia

Quote from: malekbaba on December 20, 2016, 09:22:20 AM

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 my countrty (Indonesian) bitcoin still ilegall.i dont know why.i think the government so difficult to cut off tax fees from bitcoin user.and its makes bitcoin still illegall in my country.but i hope in the future bitcoin will be legall ^^

websoftwareengineer

full member

Activity: 364

Merit: 100

Blockchain with VTOS energy

Because their government is avoiding the illegal transactions such as drug laundering. The transactions in bitcoin is very hard to trace and that is one of the reason why government does not want to get involve in this kind of industry.

bitfocus

member

Activity: 532

Merit: 15

Every country has different law and different point of view about crypto. Some countries are afraid of it, some are still thinking and some are just watching over it - that may cause such action. But in a few decades, every country of the world will go for BTC.

felipe04

full member

Activity: 308

Merit: 100

I think they not know a lot what is bitcoin so they not supported it.I think its not good for your country if you not accept bitcoin because here we can earn and if its like that its good for economy of the country.I think we need to teach them a lot abd retrieve there attention here if they not already accept bitcoin because if this bitcoin will accept all over the world the price will go so high and its good for every users here

GeniusAko

full member

Activity: 434

Merit: 117

Quote from: malekbaba on December 20, 2016, 09:22:20 AM

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 the governments have a lot of reasons why they are not supporting/legalizing bitcoins. I think one of the reason is they can't control the bitcoin and also they are afraid because many people say that bitcoin can threaten banks.

tinytrader

member

Activity: 136

Merit: 10

Bitcoin is not supported in some Countries Yet you will find BTC user over there. In some countries Using BTC is a punishable offense too. In Some countries only a few institution controls the overall economy and they will always be allergic to BTC. Countries like China, will never going to adopt bitcoin easily. Because it offers nothing that they could benefit from, I think bitcoin will always remain something radical and outside of the system in nature. And some countries maybe because they dont have much research about this virtual currency. they take it Risky investment due to its volatility.

quocsi

full member

Activity: 360

Merit: 100

Depending on the government of the country they support bitcoin. There are also countries where their government prohibits the use of bitcoins in water. Because they have not noticed bitcoin is necessary and important in the future. Just feel bitcoin not beneficial to their country

huige007

sr. member

Activity: 889

Merit: 253

Quote from: ?? on ??

for my opinion whatever length of time that they can't track those exchanges then definitely the greater part of them don't permit it.

Yes it is true a lot of the people are still not aware and the tracing of the bitcoin can be the best source for them to know the bitcoin and to make the bitcoin a world currency as much as I want to have the best return from the bitcoin is the main reason why I want it to grow and then to gave us the best return, I hope in the future I will buy the bitcoin and I will get the best price will I will ask to sell my bitcoin.

Topic: Why bitcoin is not supported in some countries? - page 72. (Read 98470 times)