Why bitcoin is not supported in some countries? - page 77.

dsouzac72

newbie

Activity: 69

Merit: 0

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

Kyrgyzstan mentioned the reasons in the official statement to be lack of security, difficulties in determining the real value and risk of calculations made directly without the meditation of the regulator.

Argoo

sr. member

Activity: 2352

Merit: 245

Bitcoin is not supported in some countries mainly for two reasons: the first is that the digital currency can be uncontrollable for the state to withdraw funds from the country and this can negatively affect its economy. This was cited by the Chinese government when it introduced its prohibitions and restrictions in September. Second, it is that with the help of the digital currency, it is possible to anonymously commit money laundering, extortion, financing of terrorism and some other crimes. This is now said by Russia and other countries. A complete ban on circulation of crypto currency has so far been introduced only in several countries: Algeria, Bangladesh and several others. As a rule, prohibitions do not achieve tangible results, because they can be circumvented in different ways.

dsouzac72

newbie

Activity: 69

Merit: 0

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

The executive director of communication of Bank Indonesia Difi Ahmad recognised Bitcoin as a potential payment method, but noticed that it could be used for scams and money laundering activity due to its decentralized nature.

dsouzac72

newbie

Activity: 69

Merit: 0

Quote from: dsouzac72 on November 01, 2017, 12:31:04 AM

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

Ecuador became one of the first countries that banned Bitcoin right after its invention in 2009.Rumours are Ecuadorian Ministry of Finance works on developing its own cryptocurrency also based on the blockchain technology.

Moreover, with growth of digital currencies, the government also issued a ban on any currency that can be defined as digital.

xtinepink

newbie

Activity: 18

Merit: 0

Maybe because f the restrictions of its government.

dsouzac72

newbie

Activity: 69

Merit: 0

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

Ecuador became one of the first countries that banned Bitcoin right after its invention in 2009.Rumours are Ecuadorian Ministry of Finance works on developing its own cryptocurrency also based on the blockchain technology.

dsouzac72

newbie

Activity: 69

Merit: 0

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 China it's clear that Bitcoin would be a part of the government financial regulation one day, but should almost never become a legit currency alongside Yuan in China. According to the current regulations, it's more likely for China to invent their own cryptocurrency based on the blockchain technology.

dsouzac72

newbie

Activity: 69

Merit: 0

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 Iceland, the main concern for the Icelandic government is a competition Bitcoin could have with the Icelandic króna (ISK) — national country's currency. Specifically, in matters related to unauthorized transfers of foreign currency

dsouzac72

newbie

Activity: 69

Merit: 0

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

The main arguments for declining new currency are terrorist and cyber crimes financing potential, alongside illegal drug traffic and using cryptocurrencies in money-laundering

dsouzac72

newbie

Activity: 69

Merit: 0

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

Different countries have different reasons like Bangladesh Ministry of Finance is concerned with money-laundering and terrorists financing potential of Bitcoin.

Andre#

hero member

Activity: 737

Merit: 500

Quote from: BitcoinPC on October 31, 2017, 01:03:08 PM

Quote from: Allan Ramanda on October 31, 2017, 12:23:20 PM

according to my current research, bitcoin can affect people's income, so the government wants to control bitcoin completely, and until now the government has not been able to control the bitcoin, because bitcoin is a freedom

Due to the reputation. You are aware about the advantage of bitcoins but maybe you're not aware about its disadvantage. Most of people use bitcoin for some illegal things like Drugs . I heard they use bitcoin on porn sites in order to get premium accounts on that dirty sites. That's the reason why some countries not accept it.

Not stop at these bad things, since the price of Bitcoin still cheap, Bitcoin has used for the UG community and the gambler communtiy.
The Bitcoin function became the best choice for those people, because with its function, the police never know them.
And most of the country do not accept a currency can help gambling services.

BitcoinPC

hero member

Activity: 812

Merit: 500

Quote from: Allan Ramanda on October 31, 2017, 12:23:20 PM

according to my current research, bitcoin can affect people's income, so the government wants to control bitcoin completely, and until now the government has not been able to control the bitcoin, because bitcoin is a freedom

Due to the reputation. You are aware about the advantage of bitcoins but maybe you're not aware about its disadvantage. Most of people use bitcoin for some illegal things like Drugs . I heard they use bitcoin on porn sites in order to get premium accounts on that dirty sites. That's the reason why some countries not accept it.

ASICHEAD

hero member

Activity: 552

Merit: 500

Quote from: bololord on October 31, 2017, 08:55:28 AM

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

Yes some countries did not support this bitcoin based on my research some country hate this becuase they said that this bitcoin is only a fraud for example is china and for my opinion maybe goverments hate this because bitcoin cannot control by any goverments .

The Chinese government did not ban Bitcoin. I do not understand why do many people think the Chinese government hate the Bitcoin market? The Chinese government are the smart people, they used the ICO's to dump the price of Bitcoin and buy it before the price of Bitcoin x2 from this lowest price. Nothing easilier than the FUD created can be succeed.

Allan Ramanda

full member

Activity: 462

Merit: 100

according to my current research, bitcoin can affect people's income, so the government wants to control bitcoin completely, and until now the government has not been able to control the bitcoin, because bitcoin is a freedom

Aizhen05

full member

Activity: 205

Merit: 100

Quote from: BADecker on October 31, 2017, 08:46:13 AM

Quote from: Andre# on October 31, 2017, 08:08:49 AM

Quote from: Anya Doreen on October 31, 2017, 01:35:25 AM

Quote from: supandi wiharja on October 31, 2017, 01:20:09 AM

Perhaps because governments in the country consider that bitcoin is strongly associated with illegal activities or tax evasion.
Many things are considered by the government to consider the country legalizing bitcoin.
It could be that the government is afraid the presence of bitcoin will be inflation, In addition the government is afraid of Bitcoin Being a money laundering place.
Actually on the other hand bitcoin offers many advantages although there are indeed that can harm the country.

Yes! I Agree :-D There are many illegal activities that the Bitcoin can participate if the Government does not review or give some time for this.

Even the government consider and starting to research about Bitcoin, you also know they do not have any permission to control this system.
Bitcoin is a decentralizaion system, no one can controls it, therefore, how to stop the criminal in Bitcoin?

Government or the banking system is the biggest criminal. Bitcoin takes control away from Government and the banking system. Bitcoin stops the criminal.

Cool

maybe yes that bitcoin can stop criminal but we cant be comfortable with it that bitcoin can control the criminality in the world because as long as there is money involve the criminality is always there.

Silverstone1111

newbie

Activity: 53

Merit: 0

Quote from: BlockMedx on October 30, 2017, 07:23:37 PM

Central banks do not enjoy competition for their monopoly on currency. It's where they derive most of their power.

Yes totally agree with that point. The central wants the full control of the finance of the nation. They want to control the money that people earn. Using Crytos like bitcoin people can can be their own bank have their freedom back. So the bitcoin is not supported in some country due to the the fear of central bank.

OrangeII

hero member

Activity: 2170

Merit: 503

Reward: 10M Shen (Approx. 5000 BNB) Bounty

Quote from: shawonngp on October 31, 2017, 11:48:20 AM

Each country has their own rules. The company or the business has to follow those rules. Bitcoin is banned in those countries where it is against the regulation and monetary system of those countries . But I believe, Even though late Bitcoin will get legitimacy in all countries.

I agree with you. even when bitcoin has a negative side, a country will definitely receive bitcoin. sooner or later. well, bitcoin has shown a positive side, that makes unemployment decreases. Grin

shawonngp

full member

Activity: 856

Merit: 111

Buzz App - Spin wheel, farm rewards

Each country has their own rules. The company or the business has to follow those rules. Bitcoin is banned in those countries where it is against the regulation and monetary system of those countries . But I believe, Even though late Bitcoin will get legitimacy in all countries.

bololord

full member

Activity: 420

Merit: 101

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

Yes some countries did not support this bitcoin based on my research some country hate this becuase they said that this bitcoin is only a fraud for example is china and for my opinion maybe goverments hate this because bitcoin cannot control by any goverments .

BADecker

legendary

Activity: 3906

Merit: 1373

Quote from: webdevmastery on October 31, 2017, 12:29:25 AM

Quote from: Hatuferu on October 31, 2017, 12:12:19 AM

Quote from: BlockMedx on October 30, 2017, 07:23:37 PM

Central banks do not enjoy competition for their monopoly on currency. It's where they derive most of their power.

They want to have a sole control but they cannot control bitcoin so I can say it has become a threat to them.
People will use bitcoin even if they will ban it because as long as there is internet everything is possible online for a person who are satisfied with the decentralized system.

It was a threat in the way that bitcoins can be used for buying drugs online and it was very hard for N.B.I. to trace the transaction so the only way to avoid this illegal transactions is to ban bitcoins from circulating the country.

Some people strongly believe that Government is the illegal transaction.

Cool

Topic: Why bitcoin is not supported in some countries? - page 77. (Read 98470 times)