Topic: Why bitcoin is not supported in some countries? - page 98. (Read 98470 times)
Because in some countries, the governments are afraid of a currency that they can not control and they, basically, do not take any extra profit from accepting Bitcoin in their countries.
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 the reason why bitcoin is not supported in other countries because of their government that have implemented laws that blocked its people on using bitcoin. That mindset of the government may be caused of not proper orientation of bitcoin into their country. That is why it is important that many people should be popular on bitcoin and especially the government officials. 
Bitcoin is popular and bitcoin price is very high.bitcoins is easy to transfer to anyone,this decentralized currency.so here we chance of some problems. criminals also can use the this decentralized facility may these are reasons not supporting the bitcoins.
One major reason which I found out is that since its a currency though virtual , govt thinks that if its currency it has to be regularised and should come under thier purview . So they are not allowing Bitcoin to be legal if they cannot regularise it .
Some countries does not support bitcoin due to its potential to be used in illegal practices such as money-laundering and terrorists financing. They believe that Bitcoin can be used as a payment in exchange of illegal activities which will threaten their country so they cannot risk legalizing it. Another reason is the competition with the national currency. And of course the security of people's investment. But most of all, the major concern here is the issue of paying taxes.
There is still a lot of negative publicity surrounding BTC. The recent ransomware attack didn't did any favors either. Many of the governments view Bitcoin as a currency exclusively used by criminals and drug peddlers.
Yes, bitcoin has got majority of negative spreading rather than positive statements. This is just because of the increased use of bitcoin for illegal transactions and for gambling purpose during the early days of bitcoin. This is the reason and soon more Countries will realize the potential of bitcoin same as the Countries that have legalized it's usage.Gambling is still OK, I believe. There are a lot of gambling sites out there, which accept PayPal or CC payments, and these nations can do little about them. I guess they are more concerned about Bitcoin being used for tax evasion, and for the purpose of ransom and drug purchases.
Some countries are not accepting bitcoins as there is no proper advertisement over there and may be, demand for the stock exchange market is low compared to others. I was expecting that all countries should support bitcoin in the future.
I expect the same dude, they need to support it because in 2 or three years bit coin will be recognized by majority people. Some countries does not accept it because there is no proper marketing and facilities in those areas. They will accept it as soon as they know about the benefits and facilitation of bit coin. There are few countries which are wary of bitcoin because of its volatility, decentralized nature, perceived threat to the current monetary system, and link to illicit activities like drug dealing and money laundering. Some of these nations have outright banned the digital currency while others have tried to cut off any support from the banking and financial system essential for its trading and usage.
It could be a threat but not really a big threat, we are living in a world where there is a government who can control everything and they will always protect the interest of the majority who voted for them to be on position or in power. Bitcoin is not a legal currency and it can be legalize only in a form of digital currency particularly known as a payment system by it's function. Investment is another thing, it will only be good for some but majority are thinking of something they can use for daily transactions.I agree with you, Government has a control of every country. If government like the bitcoin then sure it has no matter but i see mostly country's government are corrupt because they are not doing properly work for their public facilities, then it is not possible that government accept the bitcoin. But i know if some popular and powerful countries accept bitcoin, then it would be easy to accept the bitcoin for other countries.
Bitcoin has no center to attack. There is no single organisation or person that controls Bitcoin and transactions don't go through a central clearing house there is really no way a regulator can stop people from downloading Bitcoin wallets and sending each other bitcoins.
The government has thought that Bitcoin will have a lot of impact on the country's economy, so Bitcoin has been banned in some countries and there are many fine by the state
most governments are a bit jealous of decentralized currency but its their loss.. they will suffer a brain drain of tech savvy entrepreneurs
a little bit true...but I don't think that is the major reason to do not support in some countries. I think there are many others reasons to hinder this valuable platform. some negative impression could be the worst reason to prevent using bitcoin in some countries. but if the government do not allow to use Bitcoin then it is difficult to avail it.
most governments are a bit jealous of decentralized currency but its their loss.. they will suffer a brain drain of tech savvy entrepreneurs
That's true.But they have to be more careful if they want to adopt bitcoins.
Nowadays lots of negative news coming from bitcoin.
Such as used for illegal transaction and don't forget these hackers virus recently.
There is still a lot of negative publicity surrounding BTC. The recent ransomware attack didn't did any favors either. Many of the governments view Bitcoin as a currency exclusively used by criminals and drug peddlers.
Yes, bitcoin has got majority of negative spreading rather than positive statements. This is just because of the increased use of bitcoin for illegal transactions and for gambling purpose during the early days of bitcoin. This is the reason and soon more Countries will realize the potential of bitcoin same as the Countries that have legalized it's usage.
most governments are a bit jealous of decentralized currency but its their loss.. they will suffer a brain drain of tech savvy entrepreneurs
Because some countries are closed, their government is spamming their currencies, how much you can copy number, while the BTC is not the same
I cant understand the spamming about their currencies. Its on their jurisdiction and its up to them on how they are going to implement their currencies. Those countries are not just willing and open to adopt a currency that will make their citizens avoid paying tax. 
There is still a lot of negative publicity surrounding BTC. The recent ransomware attack didn't did any favors either. Many of the governments view Bitcoin as a currency exclusively used by criminals and drug peddlers.
There are few countries which are wary of bitcoin because of its volatility, decentralized nature, perceived threat to the current monetary system, and link to illicit activities like drug dealing and money laundering. Some of these nations have outright banned the digital currency while others have tried to cut off any support from the banking and financial system essential for its trading and usage.
It could be a threat but not really a big threat, we are living in a world where there is a government who can control everything and they will always protect the interest of the majority who voted for them to be on position or in power. Bitcoin is not a legal currency and it can be legalize only in a form of digital currency particularly known as a payment system by it's function. Investment is another thing, it will only be good for some but majority are thinking of something they can use for daily transactions. 
There are few countries which are wary of bitcoin because of its volatility, decentralized nature, perceived threat to the current monetary system, and link to illicit activities like drug dealing and money laundering. Some of these nations have outright banned the digital currency while others have tried to cut off any support from the banking and financial system essential for its trading and usage.
Because some people abuse benefit of bitcoin. Bitcoin transactions are done anonymously, very different from when we make transactions or money transfers in the bank. The reason why Bitcoin is not welcomed in some countries is because Bitcoin tends to facilitate activities or acts of terrorism and other illegal transactions. Some time ago an online media reported that hackers managed to find out the scheme of transactions conducted by ISIS is using Bitcoin and the amount in the wallet or their account is very large.
The few countries that have actually made bitcoins illegal are few (the only one I can think of now is Ecuador), Russia and China first made negative replies but currently seeming in a smooth road to bitcoin legalization.
Why did Ecuador (and whoever else) make bitcoin illegal? Hard to say, could be because of how bitcoins don't go through the central bank outlets like regular transfers, even those going outside the country.
Why did Ecuador (and whoever else) make bitcoin illegal? Hard to say, could be because of how bitcoins don't go through the central bank outlets like regular transfers, even those going outside the country.
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