Why bitcoin is not supported in some countries? - page 78.

BADecker

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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

BADecker

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Some small countries don't have computers yet. Cool

Andre#

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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?

Ayaancool

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I am not sure that any country that banned bitcoin.i never heard about any country that will put the bitcoin holders in jail. But i damn sure that those countries will be all ways backwards in their financial development. Bitcoin is digital currency which promotes development in financial level of countries that supports bitcoin.In my thinking , if any country banned it ........it may because they have threatened by the criminals that use bitcoin for their illegal purpose.

patz22

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The only reason why I think bitcoin is not supported in other countries because it is risky, security issues and it might cause money laundering. Some countries doesn't have any access yet with internet and I know that once they discover the earnings that they can have, they will definitely get into crypto and probably their government will start to invest in this business.

Anya Doreen

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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.

barabut

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None of the government would like to support bitcoin due to its decentralised structure it has unsystematic risks for the system, so it is normal. But in some countries they let it go at a certain level.

supandi wiharja

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Earn crypto for being contacted

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.

soilwork79

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Some countries fear using bitcoins because it is such a currency which is very difficult to gain control on. Governments do not like things they can not control. And some countries do not understand bitcoin.

Scorpion

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Bitcoin OG

Some countries are unfortunately lacking the infrastructure, technology, and local places to cash or spend their Bitcoin to even consider it to be accepted. I think as technology comes to fold and advances these countries Bitcoin and blockchain will just explode in those countries.

Mame

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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

Some countries doesn't support bitcoin for a fact that each country have different set of laws. And most of the country that banned bitcoin is the countries that are very praticulat with the production and the amount of income they are getting. Because less tax will be less income for the government.

webdevmastery

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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.

Mame

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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

Hatuferu

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https://trueflip.io/

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.

BlockMedx

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

mware

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It’s difficult to regulate Bitcoin when no standardized set of regulations across countries even though the bitcoin are being used across territories to pay for goods and services. besides, quite a lot of criminals use bitcoin because of untraceable financial transactions like money laundering, tax evasion and other illegal

brickafterbrickwalldpt

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Depends on how you define "not supported". If you mean banned, then so far as to my knowledge only one country has banned bitcoin, Nepal. Whenever that ban extends to other cryptocurrencies, I don't remember, but it probably does. If by not supported we're just talking about paying with it for stuff and services in the country, then it's probably because bitcoin may be still alien to alot of countries, or they just don't see it as something significant enough to justifiy permitting it to be used for transactions in their country. There's also the banks, who have a strong influence on this sort of stuff.

ASHLIUSZ

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Every country government doesn't have the same thinking about bitcoin. Though it has got the chances of providing a better economic growth as well an technology advancement governments avoid it simply because of decentralized functioning and majority of the government thinks it an asset for illegal transactions. This needs to change, only then more countries accept bitcoin.

xBitHodler

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It is quite simple. Some authorities are afraid of losing control of their financial system. It's possible that they will try to ban Bitcoin and introduce their own cryptocurrencies based on Blockchain technology. Unfortunately, they don't understand that being open source and decentralisation is very important and that's why Bitcoin succeeded.

Open4lies

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Quote from: Chachacoin17 on October 30, 2017, 12:38:56 PM

Quote from: Frost149.6 on October 30, 2017, 10:50:51 AM

Each country has its own rules as far as currency is concerned. Some of the countrymen has a less knowledge about Bitcoin and therefore Bitcoin is not supported in the respective countries.
Each country has its own policy about currency. The existence of Bitcoin is still not recognized in some countries.

Yes, agree. I .think most of those countries are Communist. They want full control of their people. Bitcoon being decentralized and uncontrollable, and so they get rid of it. Bicoi has no tax and therefore the government can't benefit from it. It is also hard to trace when someone do illegal transactions.

Hey mate, I think you should not blame the state mode of any country, every country owns a policy and the way to manage the cryptocurrency world. If they do not want to use it, they will ban it, or reverse, they will accept it like the Japanese government accepted Bitcoin.

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