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Topic: Why bitcoin is not supported in some countries? - page 87. (Read 98470 times)

hero member
Activity: 910
Merit: 512
Bitcoin is not supported by some countries because they might not be  knowing its transparency and easy handling, Such countries are scared of toppling their current economy by introducing the cryptocurrency. The countries which knows about the advantages and the transaction feasibility of such currency they will derive the maximum advantages out of it.
Yes of course most of the countries are not aware of its advantages like easy way of transaction as well as feasible for online shopping anywhere in the whole world, and after decentralization bitcoin is out of control of any country. So after the introduction of such best crypto currency in the digital world I am sure that they will must get the benefits of bitcoin by the investment from the whole world.
legendary
Activity: 3374
Merit: 2198
I stand with Ukraine.
My country also does not support bitcoin .. If i caught using bitcoin i could get into prison for 10 years .. This is really unfair . I dont know why the government did not allow Bitcoin in my country. Bitcoin is future currency  Smiley Smiley Smiley Smiley

10 years in prison for using Bitcoin? Where do you live, mate, Nazi Germany? Smiley

Seriously though, I doubt there is such a country in the world. Indeed you can go to prison for some criminal activity involving Bitcoin, but not solely for using Bitcoin. Please correct me if I'm wrong.
full member
Activity: 247
Merit: 100
Decentralized Continuous Audit&Reporting Protocol
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 legal status of Bitcoin varies substantially from country to country and still undefined or changing. Because of one of its characteristics, Anonymity. It's hard for the government to trust something that they cannot regulate. They want to protect their national currency. And because Bitcoin was originally used/created underground, meaning they create it for illegal activities. That's why some countries think of it as an illegal commodity/currency.
hero member
Activity: 823
Merit: 500
SquidCoin.cash
My country also does not support bitcoin .. If i caught using bitcoin i could get into prison for 10 years .. This is really unfair . I dont know why the government did not allow Bitcoin in my country. Bitcoin is future currency  Smiley Smiley Smiley Smiley
full member
Activity: 434
Merit: 105
This may be worrying in the use of bitcoin on its community, perhaps afraid of being used as a crime / used as an illegal transaction that could harm the state. In addition, of course bitcoin is a virtual currency that is difficult to control, while some governments in a countries sometimes don't like something that can't be regulated / on control.
The government is really afraid of Bitcoin being used as illegal activities. Transaction by bitcoin is highly anonymous so bitcoin can become a tool for crimes like money laundering, drug trafficking, tax evasion and illegal payment. Also, it is illegal to use any currency that is not issued and controlled by a government or an authorized entity. Anyhow, there are a lot of reasons why bitcoin is not supported in some countries.
legendary
Activity: 2383
Merit: 1551
dogs are cute.
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
Really 6 months jail? Damn.  Maybe because of the fact that bitcoin is very much new to the markets a few years doesn't matter for them, and maybe also because of the fact that bitcoin reached 5000$ when no other currency reached that amount.
newbie
Activity: 31
Merit: 0
Let's just respect their policy about money. They don't want their citizens to put their local currency in Bitcoins becuase somehow it's disturbing their natural order of the way their local currency does.
jr. member
Activity: 54
Merit: 10
Text goes here
Depends what you mean by "not supported"
hero member
Activity: 835
Merit: 502
I think because goverment thinks that bitcoin can make bad influence into economy and goverment bank system, bitcoin can destroy to many laws and economic principles. So for several go verments, especially from cis countries bitcoin is a little inconvinient.
sr. member
Activity: 924
Merit: 255
This may be worrying in the use of bitcoin on its community, perhaps afraid of being used as a crime / used as an illegal transaction that could harm the state. In addition, of course bitcoin is a virtual currency that is difficult to control, while some governments in a countries sometimes don't like something that can't be regulated / on control.
sr. member
Activity: 602
Merit: 250
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 goverment afraid about bitcoin can the rival of fiat money and bitcoin can be official currency to use payment in store, mall, market etc
newbie
Activity: 39
Merit: 0
It may not be supported just doesn't suggest the citizens can not nevertheless use it.It only requires a intelligent mobile phone with each functions and transactions can be done for solutions and items to be purchased or marketed.It is a world-wide forex following all. Just not in the international market. But.
hero member
Activity: 1666
Merit: 502
in every country have its own rules there are legalized bitcoin, for example russia and japan they legalize bitcoin, and some also prohibit the use of bitcoin for example China.
and many countries are just observing how bitcoin develops
Agreed. Each country has its own law and order. Government of each country has their own centralized economic system which has put some limits and bounds to the people while making transactions. Bitcoins discard this concept of centralized economic system and have introduced a user centered system in which user is only responsible for all of its transactions online and they have freedom to do anything they want.
the concept of bitcoin systems and different governments to accept bitcoin are required to follow the regulations of the government. the government also thinks if receiving the bitcoin will benefit the country or not.
full member
Activity: 658
Merit: 100
there are concerns in regulation about the possible impact on real currency, tax implications, potential fraud and criminal use. This has led to many countries issuing legal regulations or guidelines for Bitcoin used in their respective jurisdictions
full member
Activity: 686
Merit: 107
They see it as a great threat to their economy. Bitcoin exchanges/tradings/transactions also doesn't require any taxes. It is also hard to monitor every transaction, those black markets that runs with the help of bitcoin to make efficient and anonymous transaction.
full member
Activity: 140
Merit: 100
because it's a gambling problem, but they do not understand that it's part time or full time work from the internet  Embarrassed Embarrassed
full member
Activity: 784
Merit: 112
Every country have their own law and we should respect it because we can't force the government to make it legal in their country, and some people are not trusting bitcoin they think it's a scam so even if you explain the good benefits of it they won't listen and it's hard to make it legal if people are not trusting bitcoin.
hero member
Activity: 770
Merit: 500
in every country have its own rules there are legalized bitcoin, for example russia and japan they legalize bitcoin, and some also prohibit the use of bitcoin for example China.
and many countries are just observing how bitcoin develops
Agreed. Each country has its own law and order. Government of each country has their own centralized economic system which has put some limits and bounds to the people while making transactions. Bitcoins discard this concept of centralized economic system and have introduced a user centered system in which user is only responsible for all of its transactions online and they have freedom to do anything they want.
full member
Activity: 210
Merit: 100
Maybe because of its bad reputation.
It is commun that bitcoin is used only in dark web to buy illegal stuffs like drugs, electronic drugs, guns, etc ...
sr. member
Activity: 257
Merit: 250
Each country has their own laws and each country need a time to apply bitcoins.
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