Topic: Why bitcoin is not supported in some countries? - page 9. (Read 98470 times)
some countries have regulations and policies respectively. while bitcoin is still seen to make the economic situation of a country into chaos. This is the reason a country still banning bitcoin today.
Bitcoin not support in some countries mainly due to the decentralization and the confidential ID for bitcoin miner or user. Government afraid it is a scam and also afraid bitcoin will be use by terrorist to do bad things. At the same time also scare the grow of bitcoin will affect the financial market because bitcoin is uncontrollable, thus bitcoin is not support in some country.
the government is worried that bitcoin will replace the country's original currency that has been considered valid as a means of payment transactions that they often use every day. while bitcoin is the virtual currency, bitcoin is the first decentralized peer-to-peer payment network that is fully controlled by its users without central or intermediary authority.
An addition, some countries believe bitcoin is a big threat to their economy, and can be used is a crime like drug trafficking, prostitution, terrorism, money laundering, tax evasion and other illegal and subversive activity all benefit from the ability to move money in untraceable ways.
the government is worried that bitcoin will replace the country's original currency that has been considered valid as a means of payment transactions that they often use every day. while bitcoin is the virtual currency, bitcoin is the first decentralized peer-to-peer payment network that is fully controlled by its users without central or intermediary authority.
Actually my country's government is interested in adopting blockchain technology on the banking system, but not with bitcoin. I think that's because the government views bitcoin as a fad investment and a fluctuating or volatile bitcoin value does not qualify as a currency.
All countries which dwindling economy is scare by Bitcoin as Bitcoin in its core technology is very empowering to the citizens. It gives authority back to the people so this make govt nervous about they won't be able to have an effective control on the people anymore.
I've seen plenty of TA that called a ton of these price drops and also called the support to a tee. Technical Analysis is most certainly a tool we can use to predict where price is heading. Of course no one can pinpoint this stuff with certainty, but TA with FA is the best bet rather than being a part of the stupid "HODL Gang" mentality. Keep HODLing all the way back to $6000 when we hit $19,000. That mentality cost a lot of us a lot of gains.
All countries which dwindling economy is scare by Bitcoin as Bitcoin in its core technology is very empowering to the citizens. It gives authority back to the people so this make govt nervous about they won't be able to have an effective control on the people anymore.
so far there are many countries that oppose bitcoin, because they do not know about the way it works, maybe if all the countries already understand I think bitcoin will not be in about in any country.
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 hope that in the future when they will know about it then they will definitely show a good interest in bitcoin. Because I think the only reason is that people there do not know about bitcoin. therefore they do not give preferende to bitcoin
What I know is only few countries publicly support bitcoin legally.Maybe the govement are considering aoubt criminal act with bitcoin in case that won't lead to chaos. I believe when the law and regulation is establish, the country will even get in.
I am sure one day the countries which have banned or just taking steps towards Bitcoin Ban will cry as they though that Bitcoin will down their country economy, i am 100% sure the countries which have legalized the crypto trading the economy will boost and people will become more happy than rest of Bitcoin.
Depending on country but some countries are thinking that it will destroy there own economy. Even if they do not support Bitcoin now people would still use it in some way, because nothing can stop people to keep using bitcoin.
People can choose to use bitcoin whenever they want. This is the whole point of decentralized. Most countries do support bitcoin but because of the rise last year there are some that decided to ban the exchanges because they were scared of their economies. I think when things settle again they will lift the ban because it is also in their interest with getting more money from taxes.
Yes bitcoin is not supported in some countries and in my opinion because bitcoin is still legal and bitcoin is also often involved in negative activities like hackers and terrorist activities.
in my opinion bitcoin is prohibited because it puts money in the country and many banks have banned this investment and a country refused and gave threats of motivation in btc will get in jail. and many countries accept bitcoin and I am sure bitcoin will be accepted world
the government does not benefit from legalizing BTC
who will pay taxes? who will fill the pockets of politicians?
Let's be real, they will benefit mate because when they regulate they made the law and they let us abide on it. who will pay taxes? who will fill the pockets of politicians?
Tax is the life blood of a country, when they see there is a chance to increase the funds of the county they will do so and they won't allow us enjoying
our bitcoin without getting a share on it.
the government does not benefit from legalizing BTC
who will pay taxes? who will fill the pockets of politicians?
who will pay taxes? who will fill the pockets of politicians?
Most likely reason bitcoin is unknown and can't be controlled by government . On the off chance that its unknown then it can pull in individuals who are intending to do unlawful stuffs and thinking about its past contribution with silk street, they may see it as a potential danger or something . Since they can't control it, There is no real way to assess individuals or to follow a few people .
Because every country or state has their own different laws to follow. Basically in my country bitcoin is not totally supported by out Government but it is not ban at all. I am pretty sure that the Government is completely aware that their coujtrymen are working or doing bitcoij but they just let us with no restrictions.
I think most as the Government or any central banking system does not have authority over the bitcoin network and another reason may be because the bankers might be afraid of the bitcoins system as more people are entering the community there is no job for bankers, as people use bitcoin as a currency as well as an investment asset.
In my opinion, some countries don't support bitcoin, because it's decentrilized and they cannot control it. That's why they are afraid of bitcoin.
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