Because bitcoin can kill taxes, can use for illegal things like crimes (hire hitman, buy guns, drugs, nearly extinct animals, or some weird sh*t in black market), ransoms on computer (ransomware), un-trackable transactions and easy to scam or hack the wallet if you didn't take security methods.
These are some flaws of bitcoin that can also be reduced. And the main reason for countries not supporting bitcoin is taxes. Tax is something that a country rely on. Their financial asset is only taxes that they get from people of nation. And I would like to tell you another thing as well, that is banks. Banks don’t want bitcoin to survive. If bitcoin survives, their work will be finished forever and people will stop using banks because their money will always be save in shape of bitcoin. 
Topic: Why bitcoin is not supported in some countries? - page 91. (Read 98470 times)
According to me, Every countries has own rules and regulations for Currency.
I think these countries think that there would be currency devaluation if they legalized the bitcoins
there was news about currency devaluation in china due to bitcoin in feb 2017.
Bitcoin is devaluing China’s currency but the country won’t do much about it
I think these countries think that there would be currency devaluation if they legalized the bitcoins
there was news about currency devaluation in china due to bitcoin in feb 2017.
Bitcoin is devaluing China’s currency but the country won’t do much about it
I live in Bangladesh. Here also bitcoin illegal. Our government thinks that some bad people use bitcoin for money laundaring,so they don't support it. But if they do it will good for our county.
Each country has their own laws and beliefs about bitcoin. I think one of the reason why other country is not supporting bitcoin is because of the people who might using the bitcoins as a fund of terrorism. One thing also is bitcoins is easy to earn therefore some people are quiting their job to focus on bitcoin.
I believe that it is by the form of government of a country, as the BTC is not centralized some countries have problems to liberate the market in its territory. But with the modernization of the market, I believe that even though a country does not like it, it will have to give up and tolerate the BTC.
There are actualy just a few countries where Bitcoin is actualy supported in legal way. All others are just tolerating or ignoring it or it's banned. The reason is probably because there is stil dominant thinking that Bitcoin is something connected with illegal activities or tax evasion, or the attitude is that Bitcoin is threath to financial system or the simply just don't know what to do with it.
Before actually getting involved in bitcoin, my brother told me that bitcoin is used for illegal activities in deep web such as celebrity porn viewing, witchcrafty etc. But now I regret it because that time the prize of bitcoin is just about 1000 dollar and now the price of bitcoin just went up to 4000 dollar, see the difference I just miss a great oppotunity because Im scared to the hearsay and not knowing what it really is.Becuase coutries have a own companies or job i think some countries not suport is because some of workers quit their job as an employer. And we all know that bitcoin value is continious to increase. that is for my opinion.
No this is not the exact reason. Majorly its because its very difficult though not impossible to track the original sender of the coin in case of crime or btc being used for illegal activities. In that case its difficult to nab the original person and can get away. So in order to avoid such nuisance govt of their country prefer to stay away from this coin or cypto currency per say. Also their have being scams and misuse happening with this as a mode of payment so better it they ban it they staying away from it this is what govt thinks.
Because bitcoin can kill taxes, can use for illegal things like crimes (hire hitman, buy guns, drugs, nearly extinct animals, or some weird sh*t in black market), ransoms on computer (ransomware), un-trackable transactions and easy to scam or hack the wallet if you didn't take security methods.
Becuase coutries have a own companies or job i think some countries not suport is because some of workers quit their job as an employer. And we all know that bitcoin value is continious to increase. that is for my opinion.
No this is not the exact reason. Majorly its because its very difficult though not impossible to track the original sender of the coin in case of crime or btc being used for illegal activities. In that case its difficult to nab the original person and can get away. So in order to avoid such nuisance govt of their country prefer to stay away from this coin or cypto currency per say. Also their have being scams and misuse happening with this as a mode of payment so better it they ban it they staying away from it this is what govt thinks.
Actually there are some countries that legalize bitcoin and there are also some countries who illegalize bitcoin
Because each country has different financial regulations and the dominant way of thinking in every country that bans bitcoin is something related to illegal activity or tax evasion or the appearance of Bitcoin can threats the financial system of a country.
Fair or not that's what we have to face because the existence of bitcoin is still not recognized by everyone in this world until now.
Because each country has different financial regulations and the dominant way of thinking in every country that bans bitcoin is something related to illegal activity or tax evasion or the appearance of Bitcoin can threats the financial system of a country.
Fair or not that's what we have to face because the existence of bitcoin is still not recognized by everyone in this world until now.
There are many reasons why countries do not want to support bitcoin. First, most of bitcoin users know how to avoid paying tax. Second, there is no way to control bitcoin and know who use bitcoin. Therefore, countries refuse to support bitcoin and some even ban bitcoin forever
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
Because I think some countries saw what are the advantages of bitcoin so that they knew and accept it in countries. And all I know is bitcoin is depend on the people of the country because the government does not do anything with it. So it depends on the people. And many people are accepting it and using it now in their country.
People are accepting and using the bitcoin, but the issue is governament is not accepting. You will see Bitcoin users world wide, but except few countries, the other countries are not made this Bitcoin is legal why? Because the govt will not get any revenue from this Bitcoin. I think in future all countries will support Bitcoin let's wait.
There are several factors that make bitcoin not supported by some country. One of them (probably) because of the country's fiscal policy, the economic level still low so their governments are worried if his citizens explore bitcoin. Whereas, we all know bitcoin is a 'something' very risky to be an investment choice.
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
Because I think some countries saw what are the advantages of bitcoin so that they knew and accept it in countries. And all I know is bitcoin is depend on the people of the country because the government does not do anything with it. So it is depend on the people. And many people are accepting it and using it now in their country.
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
Well I guess the reason why some countries don't support bitcoin is that they are skeptical. They might be afraid that btc will be used in illegal activities. But mostly is that they cannot control it since it is decentralized.
What i thinl is some countries are not yet developed when it comes to technology, they might have have worling computers but lack education on how to optimize their system. Other develop countries fear that bitcoin might take ober their fiat system, and in turn their corrupt governments will have no more tax to collect. If only they can see what russia and china saw that bitcpin will be the next world currency other countries will follow, since in the future the more digital currency you have the more powerful your country will be. Governments should just let their fiat money and bitcoin go hand in hand since it is a possibility if you look at sokor and japan, they are using bitcoin and other cryptocurrencies on their daily lives.
Bitcoin is banned in Bangladesh,Equador,Bolivia and Kyrgyzstan.Even six months imprisonment is also given to persons if found using bitcoins in bangladesh.One thing has to be noticed that bitcoin is legalized in japan and regulated in china and russia,but banned in under developed countries.It shows the difference of understanding between developed and under developed countries.Some countries may fear that they would not be able to control illegal trades if bitcoin allowed in their countries.Also,they may fear that they would not be able to control outflow of their countries money outside the borders.They may have the fear of losing the earnings which they got from taxes.But,most of countries have started to realize that bitcoin could not be further avoided.
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
I think reason why bitcoin is not supported in the other country because of its decentralization. As far as I can see if bitcoin will be legalize to their nation maybe they want bitcoin become centralize so that they can do whatever they want. That's all what I've been thinkingabout it.
Bitcoin is not supported in other country because the government does not approve of it. They don't want to adapt Bitcoin because it is decentralized and have no control over it. But I think in the near future, if they see that lots of countries are starting to adapt and accept Bitcoin, some of them will follow it and will do the same.
Government is not the only problem and they cannot forbid the users as internet is not their property. Bitcoins is becoming famous day by day but still majority in underdeveloped countries is not aware of this technology. Many are kept deprive of this blessing. However, developing countries and developed ones have supported BTC for years now. 
Becuase coutries have a own companies or job i think some countries not suport is because some of workers quit their job as an employer. And we all know that bitcoin value is continious to increase. that is for my opinion.
Jump to: