Why bitcoin is not supported in some countries?

[kpcian]

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.

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[mdzahed134]

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

[RichardThessen]

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.

[BitcoinPC]

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. 

[BarbieCasino]

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.

[Netnox]

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.

[cyberChevan]

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.

[bitcoinisbest]

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 .

[Nicho]

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.

[panganib999]

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.

[mastadonballs]

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.

[stompix]

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.

"hackers" lol...

All the fuss was about two investigators who wanted their minute of fame.
The so called funding of ISIS via bitcoin is pure bs.

Why would they even try to get bitcoins (leaving a trail) and then sell them again (another trail).
Don't even bring in localbitcoins or atms cause the last time I checked there are no bitcoin atms in Mosul.

They can transfer money far easier and without raising suspicion with conventional methods.
And just imagine they send the money to their men and when the coins arrive the value is 33% off.
Would you risk doing that stuff with people who have a tendency to blow themselves up?

[6Asmodeus6]

I can't speak on every countrys behalf but i can speak for Turkey.If you read news about international news, Turkey is known for something and it's nothing like pizza or sushi.Our government likes to BAN things. There is a one page on wikipedia that says bad things about ISIS and it's releated to Turkey? Lets completely BAN wikipedia and block information.Does online betting sites uses Bitcoin for transactions? Well we can't ban bitcoin but lets try to block major wallet sites.That is the summary of my whole country...

[Theb]

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.

"hackers" lol...

All the fuss was about two investigators who wanted their minute of fame.
The so called funding of ISIS via bitcoin is pure bs.

Why would they even try to get bitcoins (leaving a trail) and then sell them again (another trail).
Don't even bring in localbitcoins or atms cause the last time I checked there are no bitcoin atms in Mosul.

They can transfer money far easier and without raising suspicion with conventional methods.
And just imagine they send the money to their men and when the coins arrive the value is 33% off.
Would you risk doing that stuff with people who have a tendency to blow themselves up?

I think that you are making Bitcoin look like a bad technology or advancement that is related to crimes. And I don't think that is the main reason why Bitcoin is not yet supported by many countries, I see that Bitcoin as of now is still at its early stages in which some major countries are not still aware on what to do with it, but hopefully with some big countries accepting it will make attention for other developed countries to follow the lead.

[Polar91]

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 behind that is depending on the government decision. Because government might think that usage of bitcoin without proper orientation or popularization might have risk or bring harm to its people through technological way. But if bitcoin will be launched and have advertisements that will orient the government and its people, maybe they will enable its usage in their countries.

[BCTalkaccountforsale]

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

My country is not forbidden bitcoin but has not yet recognized it has not allowed use it as fiat money. I think it will take a long time for bitcoin to be recognized and allowed for use in underdeveloped countries. Actually, bitcoin is not illegal.

[streazight]

my country is not supporting anything like drugs/bitches
bitcoin is accepted as well in my country so

In my country, bitcoin is also considered legal currency but because very few people know and care about it, it is still not recognized and used. I hope everyone will soon realize the benefits of bitcoin so that bitcoin can be used in my country.

government in my country are not banning bitcoin but they are not legalling bitcoin too. so they will not take any responsibility of any problem related bitcoin. but I agree that if they learn about bitcoin deeply they will easily support bitcoin because it has so many advantage.

What country are you guys from? I think legalizing Bitcoin would be hard for the government because it's decentralized and probably the responsibility of the government would be higher because they have to monitor the money laundering things that happen. The face of Bitcoin in some places is negative, I hope that Bitcoin would be accepted in some countries that hate it.

Though it has got difficulty in implementing bitcoin to be the legalized currency, there are more support getting added to the cryptocurrency world wide. This is just because the Countries at least doesn't oppose bitcoin usage. So when time comes government will realize its need and things happen in a better way.

Actually it needs a system upgrade to accept and channelize the bitcoin as a legal currency therefore some of the countries are not in favor of it.

Otherwise I don’t think it could be impossible for the government to look at the transactions and monitor them but it will cost too much for them. Also the bitcoin could be a parallel force to the country’s currency which they may consider a threat for their economic system.

[imutlinda]

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

My country is not forbidden bitcoin but has not yet recognized it has not allowed use it as fiat money. I think it will take a long time for bitcoin to be recognized and allowed for use in underdeveloped countries. Actually, bitcoin is not illegal.

Just like in my country they are not prohibited not admitted. But many offline stores have already acceptedpayment using bitcoin. Hopefully the future bitcoin will be accepted around the world.

[Caelanpelley]

my country is not supporting anything like drugs/bitches
bitcoin is accepted as well in my country so

It is in your country. In other countries they have their own laws to ensure the security of their country. Still some countries around the world do not accept bitcoin due to the risks that it causes. But who can stop the bitcoin?

[Zaun]

Bitcoin is an internet-curreny which means it is not limited or capped to countries. Its true that some countries don't embrace it but overall everybody is able to use bitcoin. Because I am not aware of legislation which makes holding bitcoin punishable by law.