Why bitcoin is not supported in some countries? - page 94.

imoet

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Quote from: Oilacris on December 20, 2016, 09:45:00 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

They dont support bitcoin because they saw that its a threat to them on their governance and also they already knew that bitcoin cant be controlled and impose tax on it and afraid that taxation would be really be affected and also crime rate would increase because of bitcoin because it might increase the hidden transactions on doing illegal things and this is only the thing i know but overall bitcoin is really useful if you dont use it on bad thing.

i agree....those countries have many reasons too...they have their own rules and policy about something that connected with economy activities...but in my country..many people using bitcoin and they love it Grin

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Still, many countries treating Bitcoin as illegal currency but people of those countries are still using Bitcoins for the benefits. Just like me in my country, it is not legalized but still, I am using it for my future investment returns on it.

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Quote from: PacePay on July 31, 2017, 04:46:18 PM

Quote from: Watcher12 on July 30, 2017, 09:28:30 PM

Their country decided not to support it and so it goes, we don't know what they had in mind

Sometimes I think that the reason why some countries have made bitcoins illegal because government can’t own them. Bitcoins benefit the ordinary man, not the big crocodiles who want to control each and everything of a state. But I am sure that soon whole world is going to accept bitcoins as a legal currency.

Are you sure you want this? Why do you need it? That you are now not satisfied? I think in order to want change need to have a reason. Most people still don't trust bitcoin and therefore want recognition by governments. They will not guarantee you safety. They will only charge you taxes.

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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.

PacePay

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Quote from: Watcher12 on July 30, 2017, 09:28:30 PM

Their country decided not to support it and so it goes, we don't know what they had in mind

Sometimes I think that the reason why some countries have made bitcoins illegal because government can’t own them. Bitcoins benefit the ordinary man, not the big crocodiles who want to control each and everything of a state. But I am sure that soon whole world is going to accept bitcoins as a legal currency.

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Quote from: 13abyknight on July 31, 2017, 12:40:45 AM

In my country (India), initially BTC users would be jailed and eventually released. Currently, India has no stance on Bitcoin i.e it is deemed neither legal nor illegal. With all the corruption and black money laundering being exposed in the recent years, I don't think Bitcoin will be fully welcomed in my country because there is still that doubt it could be a big contributing factor to allow stashing black money again without being traced.

Jailed for what?
Money laundering? You can't get released on those charges overnight.

I doubt that somebody spent time in jail because of bitcoin ALONE.
Just buy being bitcoin owners and not by getting involved in financial transactions.

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The government is worried there will be no liability for money if bitcoins are allowed. So, some countries will not agree.

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Quote from: Bone Collector on July 31, 2017, 12:30:15 AM

Some countries dont adopt bitcoin because they feel uncomfortable using it. The decentralized thing is one of the main reasons that they allow it to be used by public because they don't have the control over it or they have no laws that regulates it. Some other reasons it could be a device for money laundering.

bitcoin is being use in a lot of countries but you are right bitcoin is not comfortable for everyone some people are not so much good at earning through bitcoin so that they find it so difficult but if they will learn good process of using bitcoin and they will know the benefits of the bitcoin then they will accept bitcoin as a legal currency and soon bitcoin will be a worldwide currency they just need to take control over it and learn easy process for bitcoin.

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In fact, Bitcoin is legally supported in only a few countries. It is forbidden in all other countries.

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Quote from: rajasumi2 on December 20, 2016, 10:52:59 AM

Bitcoin is not supported in all the countries because it has some policies regarding using bitcoins.because some people were using bitcoins for money laundering and drugs .well i have not got any information about this till now .

Maybe some country bitcoin is simply the virtual currency of the intangible, anonymous only, only in some countries feared the transaction could serve as a bitcoin embezzlement of money or money laundering and semacan it. with our trade with bitcoin we need not pay tax can even be made into illegal trade or illegal payments from a country to the next. but I also do not know much about it.

13abyknight

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In my country (India), initially BTC users would be jailed and eventually released. Currently, India has no stance on Bitcoin i.e it is deemed neither legal nor illegal. With all the corruption and black money laundering being exposed in the recent years, I don't think Bitcoin will be fully welcomed in my country because there is still that doubt it could be a big contributing factor to allow stashing black money again without being traced.

s31joemhar

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I think they think bitcoin is a big scam so they not want to accept bitcoin on there country ...

Bone Collector

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Some countries dont adopt bitcoin because they feel uncomfortable using it. The decentralized thing is one of the main reasons that they allow it to be used by public because they don't have the control over it or they have no laws that regulates it. Some other reasons it could be a device for money laundering.

pathapoddo

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I don't think so there is any country who has banned bitcoin.yes some.country don't know about bitcoin so mich..even in my country too.....because in my country there is so many people who are out of internet connection. just we know who are in under internet connection..so it can possible that bitcoin is not in many country.

Watcher12

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Their country decided not to support it and so it goes, we don't know what they had in mind

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Quote from: PacePay on July 30, 2017, 06:52:25 PM

Quote from: coinluisa on July 30, 2017, 06:00:41 PM

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

Some countries have own law or bitcoin not legal to there country. And yes bitcoin is risky that's why some countries not supported bitcoin. There's so many reasons why they not supported bitcoin. And we cannot say what the reason of some countries why don't they support the bitcoin. I'm glad that bitcoin is legal to my country so i have some extra income because of bitcoin.

I think these countries do not now about bitcoin or do not have knowledge about to understand and run bitcoin in their countries that is why they cannot and do not support bitcoin in their countries and do not want their citizens to use it. If they will get knowledge then they will know that how much is it beneficial.

Politics could be the reason why the country does not accept Bitcoin. There are many countries that are anti-American and anti-European.
Using American products is considered to support American policy.
It is very likely to happen.

PacePay

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Quote from: coinluisa on July 30, 2017, 06:00:41 PM

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

Some countries have own law or bitcoin not legal to there country. And yes bitcoin is risky that's why some countries not supported bitcoin. There's so many reasons why they not supported bitcoin. And we cannot say what the reason of some countries why don't they support the bitcoin. I'm glad that bitcoin is legal to my country so i have some extra income because of bitcoin.

I think these countries do not now about bitcoin or do not have knowledge about to understand and run bitcoin in their countries that is why they cannot and do not support bitcoin in their countries and do not want their citizens to use it. If they will get knowledge then they will know that how much is it beneficial.

Gaff

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Quote from: coinluisa on July 30, 2017, 06:00:41 PM

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

Some countries have own law or bitcoin not legal to there country. And yes bitcoin is risky that's why some countries not supported bitcoin. There's so many reasons why they not supported bitcoin. And we cannot say what the reason of some countries why don't they support the bitcoin. I'm glad that bitcoin is legal to my country so i have some extra income because of bitcoin.

That's so nice of your country. In my case it's still not legal but we are converting it in our local currency. I just like the thought that it is useful because it varies in its usage like remittance, buying load for phones especially when using an available wallet. It's so handy because it's just through wallet transaction from bitcoin. So maybe someday my country bitcoin will be legalized and rest of the countries.

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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

Some countries have own law or bitcoin not legal to there country. And yes bitcoin is risky that's why some countries not supported bitcoin. There's so many reasons why they not supported bitcoin. And we cannot say what the reason of some countries why don't they support the bitcoin. I'm glad that bitcoin is legal to my country so i have some extra income because of bitcoin.

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Quote from: 131tc01n on July 29, 2017, 07:22:19 AM

In my area the bitcoin has not been unveiled. But I have never heard of punishment for bitcoin users. So we do not need to worry, use before it is prohibited.

bitcoin is the digital currency and it is dependent on the internet to be veiled so I think if a country is carrying internet access then it will surely support bitcoin and if the country is not supporting then there could be some reason as they may not have net in their areas or maybe they are afraid of loss but I think they should not be afraid and now thanks to bitcoin that its really beneficial and a lot of countries are accepting it.

Topic: Why bitcoin is not supported in some countries? - page 94. (Read 98470 times)