Topic: why some country still not legalized bitcoin ? - page 4. (Read 2160 times)
On this point. I think Japan is doing very well, and it is clear that Japan has been ahead of bitcoin applications. I think this is a trend, so some countries prohibit bitcoin behavior is not in line with the trend of the world.
Maybe its because government can't regulate it, they can't trace transaction done on bitcoin and cannot control it. They are concern about the illegal activities that can happen from it. Another thing also is their currency will be threatened, it is possible that people can largely use it rather than fiat, and lastly I think its mainly due to ignorance. They don't see bitcoin as a thing that coud help their people and other benefits that it brings.
Any Countries government will allow bitcoin as legal currency if they allow their country currency value will be reduced which is valued by the country's growth factor only. Bitcoin is not like that it is not depend on anything so the rate of bitcoin is increasing. In my point of view bitcoin to progress as what it is now. We no need any country to legalize. So far we are having smooth access to bitcoin from anywhere from the world.
I think prohibited the use of Bitcoin in the country mainly because of the coins’ potential to destroy the national currency.
afraid to disrupt the country's economy
I think because some government they think bitcoin as a scam, and they cannot trace who use bitcoin as a illegal transaction like buying drugs, weapons, and use money laundering. Also They fear that they might lose their control if they allow bitcoin to used in their country. afraid to disrupt the country's economy
Because of the threat it may give to the country. First of all if the government legalized the bitcoin in a country there's a possibility that the power of deepweb will increase because we all know that in the internet we are anonymous and we can use different apps that will hide our identity in the internet not just that, we all know that the bank and the government are partners and if the bitcoin overcome the bank then the profit of the government will reduced and lastly let's say most of the people in a country will use bitcoin or will work in a cryptocurrency industry then most of the people are not paying taxes and that's why some of the countries tries to ban it because of the threats it may give to the country.
But they don't see the opportunity it can give to every individual like reducing the unemployed, the fast transaction and low transaction fees.
But they don't see the opportunity it can give to every individual like reducing the unemployed, the fast transaction and low transaction fees.
We could see that mostly countries having small economies have banned bitcoin.Either they might have thought that they lack infra structure to trace and regulate bitcoin transactions.Also,they would fear that they would not be able to stop illegal activities in the country.
Surprisingly,even some bigger economic powers too have started to take strict actions against bitcoin.Recent examples are China and Russia.They fear that they might loose their control over citizens if they allow bitcoin.They fear that bitcoin would make their currencies lose its value and also tat it would be used for money laundering.
But its sad to see that some countries like south korea too follow their path.
Surprisingly,even some bigger economic powers too have started to take strict actions against bitcoin.Recent examples are China and Russia.They fear that they might loose their control over citizens if they allow bitcoin.They fear that bitcoin would make their currencies lose its value and also tat it would be used for money laundering.
But its sad to see that some countries like south korea too follow their path.
I seen some big country started to legalized bitcoin like japan, but i seen some country was ban bitcoin too just like what i hear about south korean and issues about russian will ban bitcoin in next month.
But why they ban bitcoin and some country still not make bitcoin legal in that country ?
It is maybe because they still do not have the capability and capacity to make it legal on their country since they lack on technology to support and operate bitcoin usage. Maybe also the people are not that aware on bitcoin existence so they do not yet make it legal because only a few will benefit. Also maybe because they are just contented in their real and national money to take over as their type of currency rather than using bitcoin cryptocurrency and other type of cryptocurrency.But why they ban bitcoin and some country still not make bitcoin legal in that country ?
I seen some big country started to legalized bitcoin like japan, but i seen some country was ban bitcoin too just like what i hear about south korean and issues about russian will ban bitcoin in next month.
But why they ban bitcoin and some country still not make bitcoin legal in that country ?
But why they ban bitcoin and some country still not make bitcoin legal in that country ?
The challenge of scamers in cryptocurrency and the fact that government cannot easily regulate the system is a major reason why it will not be legalized also lack of good internet facilty to all,is. Critical factor if legalised lot of people will be at disdvantage
I think it is because the government are afraid that they will lose control over their economy because of bitcoin. Since bitcoin is very private they cannot trace the ownership of bitcoin which will lead to people having a access without the government recognizing it.
Possibly because it's not yet popular to that country. Lawmakers are not paying attention to it because there's no relevant effect to it's economy yet. Here in the Philippines, there are only few people knew about cryptocurr, most does not even heard about it. Thanks
Yes you are right. It is possible that they are not accepting Bitcoins because they are not familiar with it and do not have proper knowledge about the cyrrency. So most likely, they will be skeptikal about it. Plus the bad things that people say about bitcoins
The government will absolutely prohibit it.
I seen some big country started to legalized bitcoin like japan, but i seen some country was ban bitcoin too just like what i hear about south korean and issues about russian will ban bitcoin in next month.
But why they ban bitcoin and some country still not make bitcoin legal in that country ?
It is maybe because they still do not have the capability and capacity to make it legal on their country since they lack on technology to support and operate bitcoin usage. Maybe also the people are not that aware on bitcoin existence so they do not yet make it legal because only a few will benefit. Also maybe because they are just contented in their real and national money to take over as their type of currency rather than using bitcoin cryptocurrency and other type of cryptocurrency. But why they ban bitcoin and some country still not make bitcoin legal in that country ?
Bitcoin is hard to control because the production is decentralized, probably that is one of the reasons why the government does not want to patronize it. Fiat has bunch of grey areas which the government can cover up, they can declare false federal reserve with it while with bitcoins everything is broadcasted in the blockchain network.
I think prohibited the use of Bitcoin in the country mainly because of the coins’ potential to destroy the national currency.
afraid to disrupt the country's economy
afraid to disrupt the country's economy
every government must have a policy to regulate its country, we can only guess it happens from the point of view of bitcoin deficiency. one of which is bitcoin has the potential to be used as a crime tool such as drug trafficking, money laundering, black market, etc.
other than that, there is also the opinion that bitcoin can disrupt the financial stability of the country, especially banks. well, whatever it is, hopefully more and more who trust bitcoin.
other than that, there is also the opinion that bitcoin can disrupt the financial stability of the country, especially banks. well, whatever it is, hopefully more and more who trust bitcoin.
BitCoin is afraid of countries because it can not be done in any way to investigate transfers made by governments and states with bitcoin, a difficult currency to control, and each country is unable to legalize bitcoin because it wants its currency to be strong
I think it's because their leader doesn't see bitcoin's innovation and potential that it can change the world. Some may not really not know about bitcoin and they don't have knowledge about it. Some countries maybe experiencing in their economy a conflict so they stopped bitcoin for a while. There are many possible reasons, so we have to wait until all countries will legalize bitcoin in their area.
Bitcoin is still illegal in some countries for many reasons, I think that’s because some of these countries are having trouble to control the bitcoin. because it’s uncontrolled and there is a possibility for a new way for crime activities, those are some other reasons that I often hear in the media.
I think that the only reason can be that most of the countries still do not have enough knowlege about bitcoin. I am sure that with the passage of time when all the big and develeped coutires will accpet bitcoin, then they will also consider bitcoin as legal currency. In fact bitcoin is the main currency of the modern time and all the nation have to accpet it as legal currency. 
I prefer to ignore news like this, there will be no great influence. government involvement in regulating bitcoin will only complicate the access of bitcoin users.
Bitcoin remains the accepted currency throughout the World without any restriction by any government. I love it.
Bitcoin remains the accepted currency throughout the World without any restriction by any government. I love it.
Legalizing it means allowing its citizens to mind their money freely. Some regimes just can't allow anything like this
This is the main reason many countries do not legalize bitcoin.
How many people are rich in your country? How many people are powerful in your country? How many people are in the elite in your country? How many poor and how many political parties do you have in your country?
Now observe the following: if in your country the party that is in power (the party that is governing the country) has the rich owners of everything that exists in their country, these rich people control all companies, hospitals, army, police, agencies security ... petroliferas and miners, they are in all companies, they decide the prices, they manipulate the markets, they are owners of the country, they win all the elections because of their power, you already thought if one day a fisherman buys a laptop and then invests $2000 in ETH when ETH costs only $10 and ETH rises immediately to $400, this fisherman gets a lot of money
and if there are a lot of people in a country who bought ETH and had a lot of profits, the rich people and its power will be broken, people will have money and money can overthrow a government. Coins like bitcoin are a danger to many governments
Bitcoin is still illegal in some countries for many reasons, I think that’s because some of these countries are having trouble to control the bitcoin. because it’s uncontrolled and there is a possibility for a new way for crime activities, those are some other reasons that I often hear in the media.
But i do not think that most of the countries consider bitcoin as illegal. i think that most of the countries do not have taken any decision about bitcoin. They do not consider it as legal currency, but still they even do not have any official announcement about bitcoin as illegal currency. i think that with the passage of time they will turn bitcoin as legal currency just like japan. who already turn bitcoin as legal currency. Jump to: