Topic: Why bitcoin is not supported in some countries? - page 75. (Read 98470 times)
The only thing that comes into my mind that the reason why Bitcoin is not supported in some countries because of the technology that they have: say internet access is not that fast or this was not yet discovered by their people or there's a possibility that their own government blocked this trend to ensure the security risk.
Its a big fact of bitcoins.As you know nobody's can control the bitcoin so some people start using for scamming money laundering and drugs. Believe me there's some disadvantage of bitcoins and due to the reputation some countries start banned it. But then the world does not end here. We need to think how can we overcome the disadvantages of bitcoin and use it for good purpose only.
Because not all countries trust it and some countries just do not want their citizens to be rich other countries have wars like Palestine and Israel they can not do anything about it every country has its own problems.
I think that it's not reason that the state doesn't believe in the advantages of the cryptocurrency, but rather the reason that it is decentralized and they will not be able to control it....why don't they come up with 'If you can't win - become a leader'...it would be reasonable
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
There are different laws in every country. That's their decision if they will ban Bitcoin together with other cryptocurrency. Maybe it is because they don't believe on the benefits of cyptocurrency and since it is decentralized. it is a victim of misconception and oftenly called as scam or fraud. 
Probably because the spread of bitcoin is still not comprehensive so bitcoin has not been accepted in many countries, but apart from that, I'm sure everyone in every country know about bitcoin and have used it. Bitcoin is also very anonymous, so transacting using bitcoin is highly suspect to negative things.
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 and other cryptocurrencies have potential, good and bad, opportunity and threat. Even though we all can see that bitcoin have great opportunity for the economic status of the country, the government is still more concerned to the potential threat of cryptocurrency in regards to illegal transactions.
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 and other cryptocurrencies have potential, good and bad, opportunity and threat. Even though we all can see that bitcoin have great opportunity for the economic status of the country, the government is still more concerned to the potential threat of cryptocurrency in regards to illegal transactions.
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
Well, maybe their government is afraid of what can happen if bitcoin was used for illegal activities. But, I think that they are already going too far. I mean, some bitcoiners out there were already rich, but they are not using those to do some illegal activities(buying drugs, etc) instead they are doing it to earn money for themselves and their family. So, I think that instead they ban bitcoins, why don’t the government use it to improve their economy(it could be a great help if they did it right).
Bitcoin is not supported in other countries because of misconceptions and it might be a tool to make illegal transactions, such as money laundering, drug trafficking, tax evasion, and illegal payment due to its user are remains anonymous,
It can be use for illegal activities and if they do not have the tools to combat this illegal transaction then there final decision would be to ban it. Actually they didn't think the positive output in their economy when using bitcoin, if only they will conduct a thorough research
before making a decision to ban bitcoin then they might see the real opportunity of using bitcoin.
bitcoin isn't backed in some nations because of the misunderstanding about cryptocurrency and cryptography. People educated from medias create the worry about bitcoin
Bitcoin is not supported in other countries because of misconceptions and it might be a tool to make illegal transactions, such as money laundering, drug trafficking, tax evasion, and illegal payment due to its user are remains anonymous,
Bitcoin is not supported by goverment in several nations because they want to manage the money and Bitcoin can not be controled because it is decentralized. I don't think that numerous nations ban Bitcoins and a few individuals utilize it even if it's banned in their country. You just need internet connection, so it can be used almost everywhere.
The main reason the state does not accept bitcoin is because bitcoin can not be controlled or decentralized, if the state has no currency control then this can be dangerous because the country's economy will be easily controlled by speculators.
I guess the problem is in the development of these countries and their legislation system.
The more developed, the more restrictions.
The less developed, the less awareness
The more developed, the more restrictions.
The less developed, the less awareness
No, I think that's not it. Japan is a very developed country and yet they are accepting crypto and especially BTC as a legal way of payment. They are aware of the blockchain and they are aware of the potential of this technology in the coming years, the legislative might have a part (because of course they are the one who mainly deals with laws and regulations), but this is more than just laws and regulations. Bitcoin is a universal rule that is governed by the laws of mathematics (its code) and no one can take that away from it. Its versatility and wide range of uses requires some open mindedness, and of course acceptance that this currency is better than any (soft and hard) form of investment and reserve nowadays.
See some people who talk shit about BTC and then shut up in the end? Because they have learn the system and they can't just admit the fact that as a (politician, banker or government official), there is a technology that is existing today that can't be touched by their own rules.
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
Actually, there are some reason why they do not supported bitcoin. I think one of the reason why the do not supporred bitcoin is being decentralized and we all know that no one can control bitcoin so that I think it is the major reason why they do not support it. Lastly, we all know that it is tax free so that if all people used bitcoin some government would not collect any tax because bitcoin is a tax free. 
They are afraid that people on a certain country will fully switch to bitcoin and with that thing happen problem will arise regarding on implementing tax and thats the time the government will have a very big problem because most people do already have the control on their money unlike on banks which is regulated by the government.
My country has blocked payment by bitcoin. The State Bank of Vietnam asserts that bitcoin and other similar virtual currencies are not legal means of payment in my country; The issuance, supply, use of bitcoin and other similar virtual currency as a means of payment is prohibited.
Every governments officially track the all transactions , no matter it is legal or illegal money. But bitcoin is somehow not traceable (can be in small extent though yet can be considered as anonymous) As long as they can't track those transactions then most of them will surely not allow it. As of now, bitcoins are more popular in the gambling industry and porn. The reason is people wants to hide their true identity. Because of these governments are not accepting it.
IMHO, do not rely upon it
IMHO, do not rely upon it
Bitcoin involves a lot of transactions. Money transactions. Every country is trying to raise their economy specially nowadays. The government wants to involve in almost all possible money transactions and remittances for them to monitor, control and regulate. If they cannot do it will not help the economy. The government in some countries would rather suggest other form of medium for their transactions instead of bitcoin. It is also possible that because not everyone have knowledge in bitcoin making it useless to them. The government also wants to avoid the possibility that bitcoin can be used for money laundering and scams.
The bitcoins is bolstered in each side of the world yet a portion of the nations don't bolster the bitcoins on the grounds that they don't think about the estimation of the bitcoins in the event that they come to think about the bitcoins than they will likewise entered the bitcoins joyfully in light of the fact that the bitcoins is the most secure way win cash in slightest time and minimum endeavors so on the off chance that you need to be a mogul by a wide margin than don't be moderate simply purchase the bitcoins and sit tight for quite a while to end up plainly tycoon.
That is typical, each time a issue has a price, it can be utilized as a device whether to do good or bad. Media just sensationalize items and exaggerate in accordance to what could capture the focus of their viewer.I do not see any reason why bitcoin ought to be supported by the authorities, allowing the use of it in the country is adequate.
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