Why bitcoin is not supported in some countries? - page 93.

rodskee

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Quote from: malekbaba on December 20, 2016, 09:22:20 AM

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 thinking of some government official about bitcoin if the bitcoin accepted as currency of the country have an effects of the local currencies but so far the other country are accepted the bitcoin as cuurency to help the economy, i think if the bitcoin are very famous and understanding the power of bitcoin as currency, all countries maybe in a few years the intire nation use the bitcoin as currency in the world of decentralized currency the cryptocurrency.

Lomberjack

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Quote from: malekbaba on December 20, 2016, 09:22:20 AM

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

It might be yes for the security and safety of its people that is why the government is prohibiting the usage of bitcoin into their country. Or maybe also it is not the way they used to be depending on their tradition and culture. It can maybe also because their technology or the establishments cannot fully support operating bitcoin and they just prefer to use fiat which is really an acceptable thing for them.

FrozenByte

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Different countries have different economies, so some countries might support Bitcoin sooner than other countries.

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Quote from: MadGamer on December 20, 2016, 09:29:10 AM

Their countries , their laws. It really depends on your definition for not supported too . If we speak about banning then as far as I know I don't think there is a country that actually banned bitcoin , at least nothing official and If there is then Its related to the banking system with one way or another . If its about the lack of usability in ATMs , local shops then there are plenty of countries and It takes time as some countries have more priorities .

Different country have different government, people and different policy but in our country where are people are scare to hug the change and innovation and that is why I hate that thing in my country.

lovesybitz

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It is true that up to now there some still other country not supporting bitcoin yet. We don't know what's in there mind, it maybe bitcoin is threat to their business which it may get affect the businesses they established. But the truth is bitcoin an additional tools to help there business to improve it more, so it may easily get prosper. Or maybe they are thinking that bitcoin can be use for illegal activities by the syndicate group in terms of transferring money were bitcoin is very useful for that things.

cinchin

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Quote from: Anyobsss on August 17, 2017, 09:23:16 AM

Quote from: ClvrGmr on August 17, 2017, 07:55:35 AM

Quote from: malekbaba on December 20, 2016, 09:22:20 AM

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

Other countries don't have any idea of what bitcoin can do, others now what bitcoin is and they nurture it for economic purposes. Why is this so? Bitcoin can give a lot of impact to the economy of a certain country because it will give several opportunities for bitcoin. It can ease transactions like transferring, sending and receiving money in this way taxes will be lessen and time wasted like on other money transferring companies. This is why bitcoin is not accepted or recognized in other countries because they consider bitcoin as a threat to the real currency and for the government.

In my opinion, Countries who doesn't support bitcoin are fully aware of what bitcoin can do and that's why they aren't supporting it. The Anonymity of every transactions in bitcoin can be used by fraud and any illegal activities. In addition to that, We all know that bitcoin has no tax and We all know that some countries doesn't want something where they will not get tax since some countries totally rely on taxes.

- Yes, bitcoin has a great influence on the economy of some countries, it is like a double-edged sword, it has good side and bad side, so many countries do not dare to support it, the effect of bitcoin is really scary
- Bitcoin can lead to a lot of social evils such as money laundering, tax evasion, gambling, etc. In summary, the scope of its influence is enormous. However, in the future, these countries will soon support bitcoin because bitcoin is a future trend, it can help reduce unemployment and help economic development very well.

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Quote from: ClvrGmr on August 17, 2017, 07:55:35 AM

Quote from: malekbaba on December 20, 2016, 09:22:20 AM

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

Other countries don't have any idea of what bitcoin can do, others now what bitcoin is and they nurture it for economic purposes. Why is this so? Bitcoin can give a lot of impact to the economy of a certain country because it will give several opportunities for bitcoin. It can ease transactions like transferring, sending and receiving money in this way taxes will be lessen and time wasted like on other money transferring companies. This is why bitcoin is not accepted or recognized in other countries because they consider bitcoin as a threat to the real currency and for the government.

In my opinion, Countries who doesn't support bitcoin are fully aware of what bitcoin can do and that's why they aren't supporting it. The Anonymity of every transactions in bitcoin can be used by fraud and any illegal activities. In addition to that, We all know that bitcoin has no tax and We all know that some countries doesn't want something where they will not get tax since some countries totally rely on taxes.

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Quote from: malekbaba on December 20, 2016, 09:22:20 AM

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 dont think that there is any country that will ban the Bitcoin. I think that there is a lot and more controversial issue that will need to be solve and answer so that it might be the first thing to give an attention than the bitcoin.

ClvrGmr

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Quote from: malekbaba on December 20, 2016, 09:22:20 AM

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

Other countries don't have any idea of what bitcoin can do, others now what bitcoin is and they nurture it for economic purposes. Why is this so? Bitcoin can give a lot of impact to the economy of a certain country because it will give several opportunities for bitcoin. It can ease transactions like transferring, sending and receiving money in this way taxes will be lessen and time wasted like on other money transferring companies. This is why bitcoin is not accepted or recognized in other countries because they consider bitcoin as a threat to the real currency and for the government.

Proton2233

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Quote from: Cuteako on August 04, 2017, 09:15:34 AM

Some countries the Transaction by bitcoin is highly anonymous so bitcoin can become a tool for crimes like money laundering, drug trafficking, tax evasion, illegal payment,” the central bank said in a statement

When a Central Bank says that he enjoys the fact that he had no one to argue. I never pay attention to such a unilateral Declaration. The Central Bank only translates into society's thoughts of the government. Which until 2008 was not financing crimes? Lol!

Victorycoin

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Quote from: Cuteako on August 04, 2017, 09:15:34 AM

Some countries the Transaction by bitcoin is highly anonymous so bitcoin can become a tool for crimes like money laundering, drug trafficking, tax evasion, illegal payment,” the central bank said in a statement

The above ills have always been there and would continue to be with or without Bitcoin, so pointing fingers at Bitcoin is rather a ploy to pass the bulk. The main reason some countries would never support Bitcoin is because Bitcoin represents a huge competition against their local currencies and which is one major tool they employ in manipulating their people and their economics.

ramsdaj28

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اللعنة

I think, they have reasons if why they don't allowed or support btc in some countries. First thing is that they are fighting against illegal transactions like deep web transactions where people use bitcoins as payment. Second, they don't want that their local money be overtaken by bitcoins esp. that its value is rising like a rocket. Lastly, they might not have enough support in terms of internet connections or the likes to run such operations regarding bitcoins.

Capradina

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Quote from: Cuteako on August 04, 2017, 09:15:34 AM

Some countries the Transaction by bitcoin is highly anonymous so bitcoin can become a tool for crimes like money laundering, drug trafficking, tax evasion, illegal payment,” the central bank said in a statement

It's true, bitcoin has weaknesses in their transparency and also anonymous. the system will certainly be used by criminals in committing illegal transactions, because the Government cannot conduct surveillance and prevention. But that all is not a problem for us, but I'm sure it's all in the future can be fix. Because it will not be possible all countries let all this happen, for sure it will also provide a threat to the security of a country.

nexus99

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Bitcoins have no regulatory framework, which makes governments afraid. The anonymity of transactions makes btc easy to use for illegal purposes. This is a serious threat to government authority, so they are going crazy because of it and start banning everything

Wa(t)ch_night()

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I think many countries are still afraid of modern digital currencies or do not know how to use them correctly, but in a few years the situation may change when they see that it is simply necessary for the country.

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Quote from: bakkang on August 17, 2017, 04:49:13 AM

I think because they are not interested or they don't have been oriented with what are the benefits of bitcoin to the life of every individual. If they are interested they can support bitcoin no matter what no matter how risky it is. And of course there should be an orientation regarding bitcoin so that they will be attracted.

Aside from they don't have interest is that their looking also the capabilities of the communities, banks and establishment to handled online transactions. Because some countries they don't have strong or stable internet connections and therefore their knowledge also about bitcoin is limited. That's why they prefer to used their local currencies for all transactions they made.

bakkang

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I think because they are not interested or they don't have been oriented with what are the benefits of bitcoin to the life of every individual. If they are interested they can support bitcoin no matter what no matter how risky it is. And of course there should be an orientation regarding bitcoin so that they will be attracted.

Carlsen

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Quote from: Webetcoins on August 05, 2017, 04:48:06 PM

Quote from: Cazkys on August 04, 2017, 08:06:51 AM

Many different reasons. Some countries just legalize it and is considered against their anti-money laundering laws some countries just bans it because it’s a crime without any specific reasons. But some countries may have legit reasons why. For example, Bitcoin is banned in Bolivia because the country has their own mojo going on or some shit. I heard cryptocurrencies and decentralized digital money are banned there because they already have state run digital currency that can be used by anyone to make payments and such. Some countries do not necessarily support Bitcoin but they don’t regulate it either so people can use it freely. Some have regulated and included as taxable asset like in the USofA and Israel.

I will utterly agree with you in this regard. The reasons you have enumerated are absolutely valid and logical. All states have their own reasons for not supporting bitcoins. Mostly the states that do not want to lose their control over their public, they are against bitcoins. Moreover the states fear bitcoins as currency of crimes. They are afraid of its decentralized nature. This topic is vast. Talking about some particular state would be better and easy.

I think that the measures taken by the governments strongly depend on what experiences they have made with crypto currencies.
If avoiding taxes and laundering money really is a problem in a society, then it is not surprising if the state does everything in its power to make it difficult for people to deal with bitcoin when its widely used for that purpose.
After all it's the job of a government to keep a society together.

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Quote from: Cazkys on August 04, 2017, 08:06:51 AM

Many different reasons. Some countries just legalize it and is considered against their anti-money laundering laws some countries just bans it because it’s a crime without any specific reasons. But some countries may have legit reasons why. For example, Bitcoin is banned in Bolivia because the country has their own mojo going on or some shit. I heard cryptocurrencies and decentralized digital money are banned there because they already have state run digital currency that can be used by anyone to make payments and such. Some countries do not necessarily support Bitcoin but they don’t regulate it either so people can use it freely. Some have regulated and included as taxable asset like in the USofA and Israel.

I will utterly agree with you in this regard. The reasons you have enumerated are absolutely valid and logical. All states have their own reasons for not supporting bitcoins. Mostly the states that do not want to lose their control over their public, they are against bitcoins. Moreover the states fear bitcoins as currency of crimes. They are afraid of its decentralized nature. This topic is vast. Talking about some particular state would be better and easy.

Cuteako

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Some countries the Transaction by bitcoin is highly anonymous so bitcoin can become a tool for crimes like money laundering, drug trafficking, tax evasion, illegal payment,” the central bank said in a statement

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