Topic: Why bitcoin is not supported in some countries? - page 86. (Read 98470 times)
I think because all countries wait each other, we all know that bitcoin is decentralized, if there is a state that officially legalizes bitcoin then it can easily be controlled by speculators.
Some countries are afraid that the country can get out of control. Therefore, some countries prohibit bitcoin. Because they can not control it.
I didn't even know that some country would go as far as take these regulations, so if you would give us some exemples. Secondly, even if it's true, bitcoin is something thats really great for people but its equally as bad for the government it srews up financial plans like crazy and i can see why would people oppose it.
I think the country has different rules, so every country also does not necessarily approve of bitcoin for circulation, it must also follow the rules set by leaders in the countries.
Yeah that's right, all countries should be submissive for regulations set by the Government. If the Government legalize bitcoin, then there is no other country capable of blocking it. So did the opposite. Countries that don't support the Bitcoin maybe they have their own reasons why Bitcoin was illegal in his State.If bitcoin is really banned in some country, I think it a way for them to maintain their country at it is.
Like for example, some muslim country doesn't allow Christian people to bring a bible with them or else they will be jail.
I think it's the same way as bitcoin, they only want to maintain their country that's why they don't want bitcoin or they didn't allow the use of bitcoin.
I agree with you but up to now, there are not many countries that ban bitcoin anymore. Most of them have changed their mind and remove the rules so that the people have a chance to access the new technology. It is a great news to all of us and the bitcoin community. However, the Chinese government has decided to ban bitcoin exchange. I do not know why but I think that it is good because the CHina will no longer be able to control bitcoin as well as the bitcoin price. Like for example, some muslim country doesn't allow Christian people to bring a bible with them or else they will be jail.
I think it's the same way as bitcoin, they only want to maintain their country that's why they don't want bitcoin or they didn't allow the use of bitcoin.
Because the governments of these countries do not allow bitcoin to be used because some activities can happen, badly hurt their country.
Its because they cant control the value of Bitcoin and people will be free to use their currency however they want. No governments and related institutions want that to happen. Bitcoin gives you that freedom and thats why its getting widespread applications.
I'd say the attitude of each country's authorities towards Bitcoin pretty much depends on the position of the country. Let's take a couple of examples: 1) Singapore has been a world financial center for a long time already, which enabled it to get investors and ICO teams from all over the world. 2) Japan badly lacks foreign investment as salaries are way too high for production and there is little the government can do, which made them enable Bitcoin and ICO.
On the other hand there are USA and (especially) China. The two countries have enormous domestic markets and are involved in global trading, which means that there is more money, than citizens can spend, so Bitcoin or any other cryptocurrency are mainly used for offshoring purposes, which makes local authorities take actions to prevent the capital flight.
On the other hand there are USA and (especially) China. The two countries have enormous domestic markets and are involved in global trading, which means that there is more money, than citizens can spend, so Bitcoin or any other cryptocurrency are mainly used for offshoring purposes, which makes local authorities take actions to prevent the capital flight.
Because the governments of these countries do not allow bitcoin to be used because some activities can happen, badly hurt their country.
Its in bangladesh where six months jail is given if a person found using bitcoin.Its usually the countries like bangladesh,bolivia,equador,kyrgystan which have very small economy which were afraid of bitcoin and which think that they would not be able to regulate bitcoin.They feel that bitcoin would be used for promoting illegal products like drugs and they would have to loose tax revenues due to bitcoin.They think that they don't have adequate techniques to trace bitcoin transactions.So,they find banning bitcoin as a solution to these problems.
Really? There are things happening in some countries about using bitcoins. Maybe they will put some adjustments on price if for example, they wi encash bitcoin or convert bitcoin into their own currency, maybe they will add some toll or fee for that. Here in our country it is legal even if only if few people using it. And actually many people came to know bitcoin because of how bitcoin is use in our country. Here, we can buy bitcoins online, pay our bills, and even pay tuition fees.
I think so banks are involved in the reason why those countries are yet to adopt bitcoin, because the fast growing of bitcoin is will definitely affect the banking business if the people in there country happens to get awareness about bitcoin.
Many governments don't even know about bitcoin existence. They ignore bitcoin better then banning it.
Generally perhaps because bitcoin can be widely used for illegal transactions easily. In the thai movie Bitcoin Heist, bitcoin is termed as illegal because illegal transactions are made though it. Its not common for governemnt to be wary of it because of this.
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
People are afraid of things they don't understand. Governments are no exception.
If bitcoin is really banned in some country, I think it a way for them to maintain their country at it is.
Like for example, some muslim country doesn't allow Christian people to bring a bible with them or else they will be jail.
I think it's the same way as bitcoin, they only want to maintain their country that's why they don't want bitcoin or they didn't allow the use of bitcoin.
Like for example, some muslim country doesn't allow Christian people to bring a bible with them or else they will be jail.
I think it's the same way as bitcoin, they only want to maintain their country that's why they don't want bitcoin or they didn't allow the use of bitcoin.
I think the country has different rules, so every country also does not necessarily approve of bitcoin for circulation, it must also follow the rules set by leaders in the countries.
Countries wants to control every penny circulating between their citizens. Other countries just didn't hear about bitcoin.
Maybe the reason why bitcoins are banned from overseas due to the potential of many damaging banks. Because they fall when people turn in bitcoins. And many other things will affect me if this happens to be legal to them. That's why they only have to be banned and fined for imprisonment if you are using them. But they really find it difficult because it's hard to find people who use it.
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, they still doubt on digital currencies including cryptocurrency such as Bitcoin and altcoins. In my opinion, they don't support Bitcoin as a currency because it is volatile such that its market value changes from time to time which is a bit risky because a currency needs to have a stable value. Also, it is an opensource system and is decentralized, meaning, its users are allowed to use Bitcoin as they like, unfortunately, it can be used in illegal transactions and that thing, I think, is the reason why it is not yet legal to most of the countries. 
Bitcoin is not supported by some countries because illegal activities can be done by bitcoin.In my country, government has banned bitcoin for money laundering.Also bitcoin transaction is untraceable, so bad people use bitcoin for their safety.Overall,bitcoin isn't controlled by anyone and it's not acceptable by some government.
using bitcoin in a country using bitcoin is certainly a very high bitcoin purchase price while the country's finances are low in the eyes of the world, so the velocity of the country's money will increase and not in accordance with the country's issued finances, my country simply prohibits payments and transactions using bitcoin, but to access bitcoin my country still support.
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