Topic: Why bitcoin is not supported in some countries? - page 73. (Read 98470 times)
Bitcoin is a well knowned cryptocurrency but it is true that bitcoins are not supported in some countries. There are reasons why. First, some countries are not yet developed and don't want to be a part of this kind of technology. Also, some countries prioritizes their currency other than cryptocurrency. Some countries wanted bitcoin to be covered by their laws and to have tax so their country will earn throug this technology so if they can't do that they will not support it.
Because bitcoin is feared could lower the value of native currency in a country if the community has started doing lots of transactions with bitcoin. Bitcoin also can not be governed by the government so that if there are people who store wealth in bitcoin then the government will not be able to find out and bitcoin can also threaten banks in a country because of the ease of transaction and bitcoin can be a good investment so that banks will feel afraid to be abandoned and switch to bitcoin.
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
Bitcoin is illegal to other countries because they can't get some tax to people because of bitcoin. Because they are selfish always thinking about money. But there are countries legal because government thinking that its very helpful to there country.
For reasons of monetary policy probably and to preserve the financial system in place.
Maybe in the near future they accept bitcoin. It is not yet their time to accept, many things to consider.
some countries accept bitcoin and support properly because bitcoin proved already bitcoin king of crypto.
from my knowledge if you don't have any idea/knowledge about bitcoin sp how support you???
it's means some countries don't know properly about bitcoin👿
from my knowledge if you don't have any idea/knowledge about bitcoin sp how support you???
it's means some countries don't know properly about bitcoin👿
for me bitcoin is to be used bu the free will of the people and the government can't stop them from doing so, but I am not saying that doing it is a good thing, I am explaining it that it can't be controlled.
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 like your statement whether it is fair if the government does not allow bitcoin in my country I think maybe the government in the country is afraid of big inflation going to happen in that country and maybe the government is also afraid bitcoin for fund raising for crime
Bitcoin is not supported in some countries because they don't believe on it. They think that if they invest here their money will gone. But they don't know how bitcoin can help in everyone lives because it has a big value. They think that some hackers are sending a money through this site. Everyone can join here so scammer can easily enter here.
Because some governments think that people will do illegal things with it it is very easy to send money for illegal stuff through bitcoin because it is totally anonymous and no one would know who bought what.
In my opinion, some countries are not supporting bitcoin because to their law and jurisdiction. Other people use bitcoin, to do there illegal work some times to buy something in the black-market. Bitcoin is so difficult to track and the identity of the user is so limited that’s why other countries don’t support bitcoin.
It is lack of central payment system which could lead to people being financially harmed, In Bolivia they banned BTC because cryptocurrency are not issued and controlled by a gov't or unauthorized entity are so called illegal. In Ecuador they building electronic cash system, so they feel the need to protect their new currency from something clearly superior. A decentralized currency of finite production that cannot be manipulated by Gov'ts or banks might dim the lights on their new program in the eyes of the public, which offers non of those benefits.
Because bitcoin is not under government control, the government thinks bitcoin can affect the economy. Bitcoins are also anonymous, are used by criminals, and the government can not track criminals, so bitcoin is not liked. 
With regard to government authorities, the reason is that this goes against the present model of energy in society. Despite this, I do not see numerous nations barring using the currency, they like to disregard and not give promotion. Regarding a lot of people, I think will still be early days. Although many people have the internet and many sources of information, they still have not realized the requirement for a forex to solve the problems that exist in fiat currency.
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.
because for some bitcoin countries today is still a very unique thing and also very rare to use. still do not have a negative and positive side for the country so that's the main problem why bitcoin has not been accepted by the state.
Since it is regarded as something "frighteningInch,or perhaps something that the politicians are afraid of since it may disrupt the system we are involved in at this time.The fact is that either people are not prepared to enjoy a so called test out something totally new or they see the potential plus they want something to stay the same
I think each government should research first about bitcoin. Only then they will understand it and decide if they will accept bitcoin Or not. We need to spread the news to our local community people on BTC. Almost all the big countries are accepting and using bitcoin. BTC has large potential but people hardly knows. So it will be a great help to your country to adopt bitcoin also. You can build your small community from your country so you can build a group that can help bitcoin to notice by the governments there.
I think that there is not one reason behind the banning of Bitcoin in many countries :-
1. The number of crimes can increase because of crypto currencies because there is no data about how much coin a person is holding, he/she can use this coins for different crimes also.
2. Taxation is not there in crypto currency so government will get profits like in case of putting some money in banks you have to pay a particular amount of tax to the bank.
So by banning this they are more ensure towards the defencing their country.
1. The number of crimes can increase because of crypto currencies because there is no data about how much coin a person is holding, he/she can use this coins for different crimes also.
2. Taxation is not there in crypto currency so government will get profits like in case of putting some money in banks you have to pay a particular amount of tax to the bank.
So by banning this they are more ensure towards the defencing their country.
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
Every country has its own reason and decision whether o declare bitcoin legal or illegal. Countries who considered bitcoin as an illegal things has a deeper reason for it, maybe they don't want there people take the risk of handling bitcoin. Or maybe some countries are afraid of its existence, that there's a chance of being the future of money. There are also countries who has laws that really prohibits this thing. For whatever reason they have, we must respect it. Maybe they are still studying or learning bitcoin. If they find it good then maybe they will make it legal to their country. Jump to: