Why bitcoin is not supported in some countries?

[BlackRacerX]

I think the government of every country cannot grasp or hold bitcoins because it's decentralized. Plus the price is really unstable and I'm sure government analysts have thinked about what to make of bitcoins and I'm sure they too are afraid to take a plunge of bitcoins. It has a volatile price trend therefore it is hard to fully invest on bitcoins. Countries avoid these sudden large losses because of the sudden price fluctuations.

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[amaydel]

I think the very reason why they are not in favor of utilizing bitcoin or any sort of digital currencies is that it's decentralized in the first place which means they don't have the control of it. They might also fear for economical destabilization and of course, bitcoin can be use for any illicit activities which government could not trace.

[frankybutterin]

its fair by their country.
if some country rejected, its mean they believe bitcoin too risky for their government and their people (although most people use and get the advantage from bitcoin). they must be have some reason why reject it. and you must appreciate about their regulation

[zhopas]

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

I think it depends on the country where you are in. All countries have different laws that need to obey. In the topic about why is not supported because I think their country is not accepted those online currency that there are some people who still not believe on it.

[bitcoincollector03]

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

I have heard that bitcoin is not supported in some countries. But why ?
 ----Bec some countries are not yet advanced in terms of technology. For advanced countries (first world countries)  is bec bitcoin is decentralized so government cannot control, 2ndly bec bitcoin is used to trade in blackmarkets. Tax free with hugeamount!

What does my gpu actually do?
----In solves a hashing problem to the internet, if u send bitcoin to another wallet it mentioned how many confirmations right? like normally 3-6 confirmations b4 it will be received. Your GPU solves those confirmations! 


Im amazed how u able to this  advanced things without knowing what it does. You only focus on the money you will gain lols
Cool man! 

[Cangkeman Wae]

The government must be able to control anything including the financial system, if it can not control it will threaten the country's economic stability.

[Blossom15]

The black of support it's supposed to be getting isn't found in most countries so most government don't see the need to support it

[AmeSakibimasu]

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 our country philippines bitcoin is not legal i think because banks dont recognize this coin. some reason will be because bitcoin is not traceable they can use it in illegal way that why government dont legalize bitcoin.

This is the most ridiculous comment I've ever read in this forum about bitcoin. Bitcoin is legal on the Philippines, in fact, the Central Bank of the Philippines is accepting bitcoin, but not an investment(not yet). So, I'm wondering, how could you say that bitcoin is not legal on our country, the government doesn't just notice is because they thought that it was just a scam, but we all know that it is not.

[ekkoadmiral]

they do not support  bitcoin because they think it don't enough legal and has very ricky

[yoseph]

they do not support  bitcoin because they think it don't enough legal and has very ricky

Most countries are afraid that when bitcoin is accepted in their country it's going to devalue their own local currency which will be bad for their economy and in some ways they are correct about that.

[rickyleatham]

i think the most popular reason why bitcoin be banned in some country is the government can not control bitcoin because bitcoin is anonynous so they can not charge taxes on bitcoin transactions, futhermore bitcoin is virtual coin and unstable, so the governments wont let anything that they can not control to be legalized.

[siti25]

The topic of why some countries are banning the use of bitcoins is interesting. Surely this topic will raise many questions, one of them like whether bitcoin is a bad thing to the point of being banned in some countries ?. Speaking of blocking, we discuss the legality. Surely there are several reasons why some countries label bitcoin as illegal to block it. The status of bitcoin legality varies by country. It all depends on each regulation set by its government. Until now in some countries that have legalized transactions using bitcoin alone still do not have a clear regulation.

[Rupok]

Bitcoin is not known to all people in the world. And the Internet system is not very advanced in all the countries. There are many countries where Bitcoin is not a law to use. So Bitcoin does not support in all countries.

[PizzaBTC]

There are a lot of reasons why such country doesn't support Bitcoin. As I see it, The people of the Government see that the legality of Bitcoin could be a hindrance for them. Why? Government officials are subject to disclose their assets in public which will be a threat for them. The improper declaration of their assets could cost them there position. Even though, The legalization of Bitcoin should be in favor for them. But not all Government officials are into the cryptocurrencies in which they will set that regulates the transaction of each and every one in that country. Stating that, Those Government officials who are preventing the legality of Bitcoin know the consequences once the law is passed and started to be regulated.

I think they are scared from bitcoin may be they think that bitcoin can disturb their economy and some countries want to use his people for his own work in order to collect a tax from them but I think it’s a wrong decision because bitcoin can help them in their economy and I the countries which accept bitcoin they can check the performance of bitcoin there.

[long8899]

I think there are some countries ban digital currency transfer, maybe they afraid that it would effect their own economy or they don't want their residents get involve in it

[swordling143]

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

Perhaps, one of the reason why some countries don’t support bitcoin is because of he lack of knowledge when it comes to technology. Those countries are simply not confident and not comfortable with something they lack knowledge of.

[diegz]

I think there are some countries ban digital currency transfer, maybe they afraid that it would effect their own economy or they don't want their residents get involve in it

Are you sure? Why would they ban bitcoin? and why would it affect their economy?

Anyway, it won't affect their economy, in fact it could help some of their citizens bring in some money for themselves and use it in the local market. Would a government refuse something that they know could make their citizens atleast survive?

As you can see bitcoin is originally created for underground transaction so their government is prohibiting people from using it.

The question is, is government knowledgeable about crypto? or they are just asking their advisers about it?

[hangar18]

There are a lot of reasons why such country doesn't support Bitcoin. As I see it, The people of the Government see that the legality of Bitcoin could be a hindrance for them. Why? Government officials are subject to disclose their assets in public which will be a threat for them. The improper declaration of their assets could cost them there position. Even though, The legalization of Bitcoin should be in favor for them. But not all Government officials are into the cryptocurrencies in which they will set that regulates the transaction of each and every one in that country. Stating that, Those Government officials who are preventing the legality of Bitcoin know the consequences once the law is passed and started to be regulated.

I think they are scared from bitcoin may be they think that bitcoin can disturb their economy and some countries want to use his people for his own work in order to collect a tax from them but I think it’s a wrong decision because bitcoin can help them in their economy and I the countries which accept bitcoin they can check the performance of bitcoin there.

No, they are not wrong. In my opinion, Bitcoin is really the enemy of the government. If they accept Bitcoin, the world's economy will control by the user of Bitcoin, because if the people know how to use Bitcoin. They will not need to use a currency controlled by third people.

[annanava]

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

I personally think that this big wave of not support by governments is not because it's "risky", it's just because it changes the status quo of the financial system of each country. That's because we understand the money in a centralized way, and not as cryptocurrency was created: decentralized, with not attaches to banks. Mining and invest in cryptocurrency is incredible ok, and even more if you do it in projects like propthereum.io

[Varavu]

Each country has its own laws according to the government. Mainly bitcoin never need bank. People are also afraid to use it. If bitcoin is accepted it will dominate the local currency.