Why bitcoin is not supported in some countries?

[Andre#]

according to my current research, bitcoin can affect people's income, so the government wants to control bitcoin completely, and until now the government has not been able to control the bitcoin, because bitcoin is a freedom

Due to the reputation. You are aware about the advantage of bitcoins but maybe you're not aware about its disadvantage. Most of people use bitcoin for some illegal things like Drugs . I heard they use bitcoin on porn sites in order to get premium accounts on that dirty sites. That's the reason why some countries not accept it.

Not stop at these bad things, since the price of Bitcoin still cheap, Bitcoin has used for the UG community and the gambler communtiy.
The Bitcoin function became the best choice for those people, because with its function, the police never know them.
And most of the country do not accept a currency can help gambling services.

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[dsouzac72]

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

Different countries have different reasons like Bangladesh Ministry of Finance is concerned with money-laundering and terrorists financing potential of Bitcoin.

[dsouzac72]

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

The main arguments for declining new currency are terrorist and cyber crimes financing potential, alongside illegal drug traffic and using cryptocurrencies in money-laundering

[dsouzac72]

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 Iceland, the main concern for the Icelandic government is a competition Bitcoin could have with the Icelandic króna (ISK) — national country's currency. Specifically, in matters related to unauthorized transfers of foreign currency

[dsouzac72]

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 China it's clear that Bitcoin would be a part of the government financial regulation one day, but should almost never become a legit currency alongside Yuan in China. According to the current regulations, it's more likely for China to invent their own cryptocurrency based on the blockchain technology.

[dsouzac72]

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

Ecuador became one of the first countries that banned Bitcoin right after its invention in 2009.Rumours are Ecuadorian Ministry of Finance works on developing its own cryptocurrency also based on the blockchain technology.

[xtinepink]

Maybe because f the restrictions of its government.

[dsouzac72]

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

Ecuador became one of the first countries that banned Bitcoin right after its invention in 2009.Rumours are Ecuadorian Ministry of Finance works on developing its own cryptocurrency also based on the blockchain technology.

Moreover, with growth of digital currencies, the government also issued a ban on any currency that can be defined as digital.

[dsouzac72]

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

The executive director of communication of Bank Indonesia Difi Ahmad recognised Bitcoin as a potential payment method, but noticed that it could be used for scams and money laundering activity due to its decentralized nature.

[Argoo]

Bitcoin is not supported in some countries mainly for two reasons: the first is that the digital currency can be uncontrollable for the state to withdraw funds from the country and this can negatively affect its economy. This was cited by the Chinese government when it introduced its prohibitions and restrictions in September. Second, it is that with the help of the digital currency, it is possible to anonymously commit money laundering, extortion, financing of terrorism and some other crimes. This is now said by Russia and other countries. A complete ban on circulation of crypto currency has so far been introduced only in several countries: Algeria, Bangladesh and several others. As a rule, prohibitions do not achieve tangible results, because they can be circumvented in different ways.

[dsouzac72]

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

Kyrgyzstan mentioned the reasons in the official statement to be lack of security, difficulties in determining the real value and risk of calculations made directly without the meditation of the regulator.

[dsouzac72]

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

Banco Central de Bolivia issued a resolution to ban bitcoin on the state territory. The announcement on May 6, 2014 was met by its neighbours with surprise, since most of them has already legislated bitcoin. The document in spanish states that it's necessary to protect boliviano, Bolivia's national currency, and also protect its citizens from losing their funds.

[Mazda17]

Those countries fear that Bitcoin will make their economy to go down. Also several taxation problems have been their, as people prefer Bitcoin to escape taxes. Possibly when things go digitalized countries will use Bitcoin's technology to make their own digital currency.

A good opinion and I agree with your opinion.
Not so much oang do not like to use bitcoin but sometimes from his president who forbade him to use bitcoin because the president sometimes worried with his country in terms of their economy is increasingly degenerated therefore there is a president who banned him and sometimes there are also allowed to use it.

[xiaoweidada]

Because Bitcoin is not controlled by the government, can not control, will make the national economy affected. Bitcoin also has anonymity, only the owner knows and pays, so the government thinks it is insecure.

[djmixen]

I think the countries that does not support bitcoin can't see the advantage of bitcoin and using digital currency. But if they will allow the bitcoin to become popular in their country the population of unemployed will be lessen.

[adadaorlina]

I think in other country where Bitcoin is not supported and it labeled “Illegal” cause they seen as a threat to their economy cause its non taxable.

[miss.M]

There are some countries who don't want a digital currency because they are more focus in the fiat which some countries has a big income from the investors in that particular matter. But when they try to analyse about the bitcoin they will see how big is the help of it financially.

[BitcoinCurve~]

I think why it's not becoming mainstream and will struggle to do so is based on how difficult it is to understand the ins and outs of the technology.

[ritsel02]

There are countries who do not support bitcoin some of its reasons are the government cannot find benefit on it since bitcoin don't have tax,they cannot control it or they don't have proper regulations on bitcoin transaction and they have fear on the safety of the people on their country because bitcoin is highly anonymous so bitcoin can become a tool for crimes like money laundering, drug trafficking, tax evasion and illegal payment.Some country also feared that it will become a competition to their currency.

[BitcoinIsAlgebraic]

A lot of countries such as Dubai are really strict and they aren't going to deal with anything they can't regulate.