this requires attention and deep study before it can be legalized or at least be regulated. but the country’s agenda is not less, there are still many things that should be prioritized first, they can’t be reckless in making decisions that will affect in various aspects.
Topic: why some country still not legalized bitcoin ? - page 6. (Read 2160 times)
The major reasons why countries aren't accepting bitcoins according to me are :+
- the anonymous nature of transaction:- the countries fear that BTC would be used for funding Illegal activities and the sponsors won't be identified, all people would come to know is a wallet address.
- the fluctuating value:- the nation's are scared to give people full financial freedom and allow them to take benefit of the value , people would then shop only when the value would go high
- the literary rate :- many countries have low literacy rate where people are below poverty and do not have even basic knowledge to operate smart phone , so how will they handle their earnings.
- the list and very important one is that teh government fear that their native currency could die of competition to BTC
bitcoin not legalized in india because our country main population is in villages and maximum of them use fiat currency only. india has many other reasons also not to legalize such as terrorism, black marketing so it will take time to legalize bitcoin in india
I think this is why they have studied it well what its impact on it and its people. That is why they are very much attention. I think one reason is that it can affect the banks and other sectors of the government. Bitcoins is a kind of money investment and it quickly rises in price. And if the bitcoins would be legal may the government's underwriting banks fall behind and all of its investors switch to bitcoins.
It's so simple, because government in some countries are only just protecting they're own national currency.
Yes thats right they want to protect their own currency, but their are some reasons why they dont want to legalize bitcoin, first they want to preserve their currency, second they didnt trust the bitcoin, the other one is bitcoin is having ups and down, and also the bitcoin has low tax and sometimes no fees thatd why the government is really affected if they legalized it.
every country has different regulation, and the reason why a government has does not legalize bitcoin may be due to the rapidly changing fluctuations in bitcoin prices, and most importantly "a government can not control bitcoin". As is happening in my country, the government has begun to warn people to be careful about bitcoin, because bitcoin is thought to be endangering the global economy.
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 ?
HI But why they ban bitcoin and some country still not make bitcoin legal in that country ?
because each country has its own regulation of means of payment. It could be their reason for banning bitcoin because it does not match the specified conditions. Actually there are 2 things still unclear, namely between bitcoin as a means of payment or just as an investment asset. If as an investment asset then there will be no problem with the presence of bitcoin.
Meanwhile in Russia Putin sees the crypto currency is very dangerous to safety because it would be worst scenario for increasing of laundering of money. The offshore are no more reabile things due to recently scandals at Malta.
What do you mean, Russia is gonna have it's own cryptocurrency pretty soon.
In my opinion, maybe because they find it difficult to find out how much money every bitcoin user, since that bitcoin is a digital currency the government cannot simply control the financial interest that bitcoin has. Besides that they have no background how bitcoin rewards the currencies of every investor investing in it and each country has to protect the traditional currency. And they do not know how to tax the bitcoin if it's a digital currency. These are just a few of the possible reasons why bitcoin is not legal in another country.
I think this is probably due to the fact that bitcoin is decentralized and they do not have control of it, since the transactions are anonymous, they will have a hard time of tracking down people who are scammers, though we can get the ip address, still there are ways.in which you can change your ip address. It also may be due to the volatility of bitcoin that these countries are afraid that their people might not understand what to do with investments, their countrymen might get back on them once they introduced bitcoin to them. As far as legalizing goes, those governments still need time to study on how thry can incorporate digital currency in their constitutions, since that is always seem to be case, why some countries do not legalize bitcoin, and some who did legalized bitcoin, are having trouble, where in fact, they all can ask assistance from japan and how they managed to it.
You have a point. Speaking of why some country still not legalized bitcoin, well simply because there are some people used bitcoin for illegal transactions. Other investors are being hacked and their money gone. Some are used it for criminal activities. This criminal activity is absolutely the single most silent feature of bitcoin's anonymity. Se we can't blame those country to decide what they think good for their nations even we know that bitcoin is not intend to do such bad things.
Наша Россия все ещё думает как быть с биткоином. В итоге мы выпусти крипторубль 
They see bitcoin as a threat to their economy, the use of bitcoin eliminates taxes in transactions, bitcoin's volatility can also affect the country if there are many bitcoin holders and the price went down badly.
In my opinion, it is very difficult for governments to introduce cryptocurrency into their system. They have to manage so many problem with it to get their taxes and fees. Now btc is still to week, and not accepted very often so they won't matter about it right now. I hope most of the politics will realize soon that bitcoin has a great future and will change the situation.
The reason why some countries are not legalized bitcoin because they want to protect there own national currency. Some state are bounded there laws and policies that governing in protecting there national currency.
Every state government is different. there is also a very strongly rejected state of bitcoin for fear this is a threat but if the world can no longer stem bitcoin may be the country will make regulations about bitcoin
Exactly, every government is different. I noticed though that two countries now, China and Russia seems to be a hardline stance against bitcoin. And the commonality between the two is that they are somewhat control by a authoritarian regime. So I opine that those doesn't want bitcoin or crypto on their backyard because they cannot really control it. Look at other free country like Japan, they have embraced bitcoin wide open, while other countries put a regulation like South Korea. Which is like the 2 prime movers on todays market. So for me it depends on the form of government of a certain country. Its has nothing to do with bitcoin as scam or Ponzi. If a government see that bitcoin can't be contained by them, an outright ban is put up.
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 ?
Other country did not legalized bitcoin because of security reason for we know that bitcoin is an electronics money that everyone can earn and buy easily without thorough registration and other reason is that not all society in a country can access the internet. But why they ban bitcoin and some country still not make bitcoin legal in that country ?
It is just banks are scared of bitcoin because banks can control it and there is a chance the bitcoin could knock them out. You know banks, they are greedy as hell.
Yeah a big question indeed but so far my knowledge is concerned i am considering these countries as a foolish one because they are not even familiar with importance of bitcoin.Soon they will realize its importance and will allow its usage in their country.
i dont know about country that banned bitcoin, i think if they banned bitcoin its same that they banned new era of money, and maybe they think that bitcoin someday is scam so they banned bitcoin, they too afraid about that situation
Jump to: