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Topic: Why bitcoin is not supported in some countries? - page 85. (Read 98470 times)

hero member
Activity: 1680
Merit: 655

according to my knowledge, many of the countries are thinking about the effects of bitcoin risks, it is the consideration of some countries that prohibit its circulation. in terms of properties that are not easy to set, and come to crime.
Yes thats right it is the problem maybe. They all believe that bitcoin is not good and it not yet good for the country thats why they think that bitcoin is not good and they prohibited the citizens to use it. They cannot see the goodness of this bitcoin and how it can help the  citizens. But someday i believe they will believe that.
One point is only correct, they believe its not good for the country because it will take over the use of their money the taxes and transaction will be going to less.  They actually know what is bitcoins and how this crypto can make them unlawful in money.
No country is scared of Bitcoin taking over their own Fiat Currency, because even if Bitcoin is the most used money in their country it will still be the same at their end as one way or another the government will benefit from the usage of Bitcoin. I also have read articles that their response of the prominence of Bitcoin in some countries like the Philippines have issued some warnings on their citizens about being scammed by people who are asking for Bitcoin payment, which is totally different from the issue about banning Bitcoin in their country.
sr. member
Activity: 686
Merit: 260

according to my knowledge, many of the countries are thinking about the effects of bitcoin risks, it is the consideration of some countries that prohibit its circulation. in terms of properties that are not easy to set, and come to crime.
Yes thats right it is the problem maybe. They all believe that bitcoin is not good and it not yet good for the country thats why they think that bitcoin is not good and they prohibited the citizens to use it. They cannot see the goodness of this bitcoin and how it can help the  citizens. But someday i believe they will believe that.
One point is only correct, they believe its not good for the country because it will take over the use of their money the taxes and transaction will be going to less.  They actually know what is bitcoins and how this crypto can make them unlawful in money.
hero member
Activity: 910
Merit: 500

according to my knowledge, many of the countries are thinking about the effects of bitcoin risks, it is the consideration of some countries that prohibit its circulation. in terms of properties that are not easy to set, and come to crime.
Yes thats right it is the problem maybe. They all believe that bitcoin is not good and it not yet good for the country thats why they think that bitcoin is not good and they prohibited the citizens to use it. They cannot see the goodness of this bitcoin and how it can help the  citizens. But someday i believe they will believe that.
full member
Activity: 294
Merit: 100
Because it depends on the leader of the country. If a certain ruler doesn't know about bitcoin, then why would he support it. Maybe some of the countries really doesn't know about bitcoin so they cannot approve it in their country. And of course, they have their own rules. We really don't know what's happening in other countries so we will just wait that every country will know about bitcoin.
legendary
Activity: 1512
Merit: 1041
i think policies in every country are not the same,  Policy makers from various countries are taking steps to provide individuals and businesses with regulation on how to integrate this new technology with the rules of the formal financial system
Bitcoin is not actually legalized in every country untill now. Yes, bitcoin is legalised in some countries and that countries are the leading users of bitcoins. But even if some countries have not legalised bitcoins, there are many bitcoins users from each country.

Bitcoin is widely spread no and each country have some uses fo bitcoins even if it is not legalised in some countries. Yes, each country has its own policies and its individual rules. Perhaps tht is the reason why bitcoin is not yet used globally.
sr. member
Activity: 714
Merit: 250

according to my knowledge, many of the countries are thinking about the effects of bitcoin risks, it is the consideration of some countries that prohibit its circulation. in terms of properties that are not easy to set, and come to crime.
Most of people think that the anonimity of bitcoin is the most controvertial features of bitcoin because made it easy to use by outlaws for money loundering and other criminal purpose, probably the countries which not support bitcoin are because of this reason.  But I think it is just miss conception, the bitcoin transaction is transparent although there is no information link to the owner of bitcoin. Some countries fight this thing by instruct the country's cryptocurrency exchange operator to report identities of their client.
full member
Activity: 434
Merit: 102

according to my knowledge, many of the countries are thinking about the effects of bitcoin risks, it is the consideration of some countries that prohibit its circulation. in terms of properties that are not easy to set, and come to crime.
full member
Activity: 364
Merit: 100
Bitcoin is not yet supported by some countries because, on the one hand, they are waiting because they have not yet decided on their position with respect to the crypto currency, so innovative and ambiguous, on the other hand, countries such as China see a threat to their economy in crypto currency because of the impossibility control over the flow of money and the difficulty of taxing profits from its activities.
newbie
Activity: 35
Merit: 0
My country previously did not support bitcoin for fear of bad performance
but now supports bitcoin. People will use more bitcoin.
newbie
Activity: 49
Merit: 0
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 still too young, Bitcoin still has a very high volatility. And why are many countries still unable to accept bitcoin / legal? because the rules and insights on bitcoin itself are still lacking in the country. it takes time to accept new things.
full member
Activity: 126
Merit: 100
Bitcoin has great potentials. Decentralized. Anonymous. Banks are afraid of Bitcoin due to the fact that the latter may overcome them in the future. Business is Business. So anyone who might be a threat to your business is an enemy. Bitcoin has gaining an increased popularity among investors on a global scale.
full member
Activity: 462
Merit: 100
I think that,  have many governments they are don't know about bitcoin that's why they are ignored it. it depends on the local government if think they are legal then legal and if think it is not legal then not legal but they will understand about this matter. I am hoping that they will do legal for bitcoin every government. but each country has their own policy and they're concerned that's why it is implemented is difficult for there.
sr. member
Activity: 322
Merit: 250
Because legalizing Bitcoin takes a long process, and the readiness of the country's government, if their government has not been able to legalize BItcoin in full. perhaps because of it their government of the country forbade it. and Perhaps if one day their country is able to legalize bitcoin, it is possible their domestic economy will move forward. all depend on human resources in their respective countries.
member
Activity: 127
Merit: 43
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 the government do not see that their country will have a bright future of using bitcoin because as much as there will be a source of income for those people who are unemployed which is with the use of bitcoin, the number of unemployed will be raise because they will now be depending everything into bitcoin cryptocurrency that they will no longer work for a physical job that can result for the shortage in physical power that is needed to do the job in different works. Maybe they cannot still afford generating and operating bitcoin their country.
member
Activity: 310
Merit: 10
Because some countries fear the presence of bitcoin would threaten their economies, when decentralized applied course will be easy for speculators easy to controlling economy.
newbie
Activity: 56
Merit: 0
Yes,we know that some countries of the world don't support bitcoin crypto currency. Because,they may think their economic state go down. For this reason they don't support bitcoin in their country. Even I heard some countries announced the sixth month of jail for it.
full member
Activity: 248
Merit: 100
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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 of their laws and government and it will really take time to approve the legalization of bitcoin as it is not their priority instead how to improve their economic status. It need so much money just to legalize bitcoin and there is no one to pull out money from their own pocket.
hero member
Activity: 840
Merit: 516
My personal opinion about this question about some countries not yet accepting Bitcoin or not yet recognizing Bitcoin is that since what I know is in economic view a governments lifeblood came from taxes and implementing taxes in wages and other goods gives a government funds that they can use for infrastructure or other expenditure. But since Bitcoin as of this time can be mandated or controlled by a government yet means they cant collect any taxes. For me I think that would be one of the main reason for the other countries to not accept Bitcoins.
yes every country has their rules regulations for legalizations of a currency and that country is bound to obey all these rules, so it will take time but I am hope full that bit coin will easily be legalized on our place after thoroughly studying all the aspects of the bit coin as government  currency.
sr. member
Activity: 518
Merit: 250
each country has different considerations for bitcoin and some states receive formal bitcoin but many countries do not officially receive bitcoin certificates and there are even countries that prohibit the use of bitcoin and its use. And based on that, of course, their government has a view of the effects that arise if the official bitcoin in their country
hero member
Activity: 812
Merit: 500
Most of countries consider bitcoins as illegal. There's some peoples who use bitcoins for some illegal activity like drugs/Money laundering. They don't want to take there economy down so thats why they don't openly accept bitcoins. They cant completely ban bitcoins, because its not in anyone's control to ban bitcoin completely.
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