Why bitcoin is not supported in some countries?

[smsohag]

Most of the country was not supported Bitcoin becouse those countries rulls are different. They also doubt about bitcoin exchanged. They also thinking that bitcoin affect over there economy.

[1714832551]

1714832551

[1714832551]

1714832551

[1714832551]

1714832551

[1714832551]

1714832551

[1714832551]

1714832551

[DoublerHunter]

Most of the country was not supported Bitcoin becouse those countries rulls are different. They also doubt about bitcoin exchanged. They also thinking that bitcoin affect over there economy.

Yeah, bitcoin can affect their economy because bitcoin is decentralized and if the people will use bitcoin more often that fiat then they will lose a lot of money because they can't tax bitcoin because of its decentralization. They also might think that bitcoin is such a bad currency because of the difficulty to trace down a transaction using bitcoin because of its security features.

[xbiv2]

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

Check this: https://localbitcoins.com/
and this https://wmx.wmtransfer.com/Home/Description#

[nhd2604]

I'll give you a simple reason, because they are still thinking Bitcoin have many dangerous things and that's true, many people had many troubles with this cryptocurrency!

[PELELE]

Most of the ruling governments not supporting the Bitcoins as each and every government have special rules, norms and policies. May be, bitcoin against their rules.

[Kevin77]

Perhaps for that reason they prohibit the use of bitcoin in their country, whereas bitcoin is a digital currency that is not regulated by any state or institution, and should be accessible to anyone through an internet connection.

Yes make in sance, so bitcoins be considered as illegal currency, illegal asset and illegal instrument of investment
 there are no really rules of bitcoins except the system of bitcoins its self,
bitcoins is decentralize that is mean bitcoins is high risk losing value for invest in it, so some countries doesn't support bitcoins
 for currency, asset and any other related bitcoins.

Not everywhere but where it is not supported yes all your investment will be treated as illegal according to the laws of the respective countries.

There are both advantages and disadvantages of everything and so is the decentralization a disadvantage for the bitcoin in various regions. The countries prohibit supporting the bitcoin because they can’t trace whoever is sending and receiving it.

It does not matter that the bitcoin is supported by any country or not. As we all know that internet is available in all countries and bitcoin is the running on the internet, in every country people have bitcoins and these bitcoins are assets for them. So, no country want to lose the assets of his citizen, the government of every country well known about their population income.

Suppose any country does not support bitcoin so the bitcoin holder have many other options to sell bitcoins and get money like western union etc.

[junkozane]

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.

[JimmieA]

That's because many people still do not know about btc or just know that btc is simply a digital currency that does not know how to trade it. In particular, the government has always thought that btc would affect their currency and in fact btc is not taxed by the state. This is the case in some countries that do not support btc.

[lecongnhan123]

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

In my opinion, Bitcoin is not supported in some countries is that their governments don't want to risk their countries just because of an e-currency, they can not predict what would happen if they start to accept Bitcoin.

[chalkboard17]

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

In some country they banned bitcoin, and other nations why they're supporting it because they thought bitcoin was a threat to their
business and can have a conflict once they adapt bitcoin, just something like that.

Bitcoins gives national conflict on each banking system on all countries thats why some other countries banned their country men to used this coin, But their banned implementation has not been totally cast since there are several people who came from banned countries still using it since they know they can get more benifits unto it and rather can earn more money from staking and job hunting with the help of this coin.

Yeah the bitcoin can be a threat to the existing banking system damaging the whole financial system planned by a country. This is the basic reason that the bitcoin is a challenge to the banks due to which the governments don’t want the bitcoin in their country to keep the financial operations going smooth.

If the bitcoin is inducted it will be conflicting for the state bank even and the state bank means a regulatory authority which the bitcoin don’t accepts.

Right. If too many citizens in their country used Bitcoin instead of the unit of currency, their money would be lost price, cause a big damage to the bank system and cash no longer be valuable anymore. It looks like a hard, hurtful punch to the development of the economy.

[youdacapt]

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

In my opinion, Bitcoin is not supported in some countries is that their governments don't want to risk their countries just because of an e-currency, they can not predict what would happen if they start to accept Bitcoin.

This problem is actually based solely on the inability of the government to regulate true bitcoin regulation, this coin moves very freely and the government can not regulate it, they forbid to anticipate potential damage without ever seeing positive potential in the future, They do not want people to be free to do business without being regulated by government (capitalization).

[Lithiutium]

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.

[Amatir]

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.

[iram1011]

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.

[Finestream]

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.

[Sithara007]

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.

[batang_bitcoin]

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.

[AiWanChu]

most governments are a bit jealous of decentralized currency but its their loss.. they will suffer a brain drain of tech savvy entrepreneurs

[AjithBtc]

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.

[LouVandetta]

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.