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zhelis74
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November 21, 2017, 11:22:19 PM |
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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 some countries do not support it yet, because they haven't learned what is bitcoin all about and what could be the positive and negative effects in their respective countries. I can't blame them, change is a really difficult thing to implement. I think that if bitcoin could capture their trust then they could implement it. Bitcoin is a decentralized system, designed to be no third party involve and so the government is blind for all the transaction and therefore they cannot collect any tax out of it. Another reason is that as being decentralized system the bitcoin is transacted anonymously and they believe for that reason that it can be the root of all illegal activities which involve money. |
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The trust scores you see are subjective; they will change depending on who you have in your trust list. |
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trauchot
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Merit: 10
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November 21, 2017, 11:30:48 PM |
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Bitcoins legalize only those countries which makes profit from it and as a result of this they raise economy on this. Other countries which have banned or want to prohibit bitcoins and in general all possible cryptocurrencies due to the fact that they can aggravate economy and those amounts of dirty money that are transferred through bitcoins some governments dont want see, since it is impossible to trace from where transfer was from and where it was made and whether this money was clean or not.
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wledgewil
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November 21, 2017, 11:32:37 PM |
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It may be due to the government orders by issuing government rules to the bankers even to block the customer accounts who make bitcoin transactions, it happened.
However we can see bitcoin is not supported by banks, bank ATMs and many a shops where bitcoin is not accepted but i am sure slowly it will spread across and huge transactions with take place.
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missyqt29
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Merit: 10
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November 21, 2017, 11:42:24 PM |
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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
Poorer countries doesn't have enough technological capacity and support cryptocurrency. While other countries banned it because it threatens the rate of cybercriminality increase. The always problem to cases like this is the people who use it and not the system. |
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ghost07
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November 22, 2017, 12:06:23 AM |
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Because they dont know what bitcoin is they think bitcoin is just a shitcoin. But then again in the future when they know how good bitcoin is.
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Glorypaasa
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November 22, 2017, 12:19:59 AM |
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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
Not country but goverments because some goverments hate this bitcoin they said that bitcoin is like a fraud to all so thata why goverments illegalize the bitcoin in their countrt or maybe goverments scared about bitcoin can replace bank.  |
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378budiman
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November 22, 2017, 12:33:50 AM |
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Actually each country has its own policy If we talk about the ban as far as I know no country really prohibits bitcoin, at least there is no official and if anything then its relationship with the banking system itself.
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camsss
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November 22, 2017, 05:22:24 AM |
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Bitcoin is not supported in some countries because some of them think that it is just a waste of time. Some of them think that it is illegal and nonsense. But they really do not know the true essence of it.
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btccointalk
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November 22, 2017, 05:31:38 AM |
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They don't support maybe because it is risky.Every country has its own rule and policies.
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Baronggot
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November 22, 2017, 05:42:29 AM |
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There are reasons why bitcoin is not supported in some countries due to the fact that bitcoin can affect their economy growth. Since crypto currencies like Bitcoin is decentralize and its anonymity, so the government can not intervene and trace any transaction of it which may cause to money laundering. On top of that, bitcoin may be used in illegal activities and would lure ransomware attackers to make bitcoin as their means of exploiting money from their victims since the transaction made on the blockchain is very anonymous in nature.
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Oliver A
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November 22, 2017, 05:42:52 AM |
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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
Most of the countries believe that Bitcoins is used in illegal operations, such as money laundering, and promised to crack down on the instrument. And they strongly state that it could be used to fund crime or illicit terrorist activity. I think these are the major reason why the government is unpleasant. |
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tinystone26
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Merit: 10
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November 22, 2017, 05:43:52 AM |
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Why bitcoin is not supported in some countries because of their government are not going to agree with that using bitcoin to their country is a hard way of paying things and maybe their technology is not enough to support bitcoin.
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justspare
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November 22, 2017, 06:00:09 AM |
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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. Government would have been legalized it earlier they only waiting for something that can be under their control. Like you said, they always want to handle everything that can be controlled within their power limit so that they can manage that according to their own style and rules. Bitcoin is decentralized and that will never going to happen. So this is basic reason behind story. |
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TiffanyLien23
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November 22, 2017, 06:12:32 AM |
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Because other countries think that bitcoin can affect to their economy. Just like China, they banned bitcoin there because the Banks there have the biggest percentage to their community because of the tax that has given in to their politics. So they not support bitcoin as well because they dont know to whom will get the tax of it.
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Nivir
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November 22, 2017, 06:15:29 AM |
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Some countries don't like bitcoin because it is decentralized. And also they have doubts on its technology. But surely these countries like blockchain technology and maybe in the future they will develop there own.
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BILGPS
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November 22, 2017, 06:21:57 AM |
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If I say that bitcoin will not support in some countries there will be some hard polices against this. Bitcoin is good currency and it is used widely in many countries and many companies who provide online services are also accepting bitcoin as a method of payment.
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Shattered
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November 22, 2017, 01:06:06 PM |
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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 because it is decentralized and government has no power over bitcoin. They cannot do anything about it and they cannot completely regulate it. A lot of people are quitting their jobs because they want to focus on bitcoin. It's true that you can earn a lot of money that your salary from your job cannot provide you. Government cannot get any income tax from those people who are earning bitcoin. Maybe that's one of the reasons why they banned bitcoin. |
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waitforme
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Merit: 100
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November 23, 2017, 06:59:42 AM |
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Some countries are forbidden to ensure financial security for their people. In my country there are quite a lot of people taking advantage of bitcoin to cheat. They attracted people to invest in their companies then they disappeared.
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mornabo
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November 23, 2017, 07:07:26 AM |
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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
Not country but goverments because some goverments hate this bitcoin they said that bitcoin is like a fraud to all so thata why goverments illegalize the bitcoin in their countrt or maybe goverments scared about bitcoin can replace bank. because bitcoin is decentralized and anonymous so it will destroy the financial system of a country and the government will not let it happen, so the government gives us restrictions on the use of bitcoin or even prohibition so that's why bitcoin is not support in many countries,, |
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tarpa07
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Activity: 194
Merit: 10
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November 23, 2017, 07:11:04 AM |
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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
What you here that is right some countries not support bitcoin because those country is not very active about online Transaction. Local government think that your money is passed other country via bitcoin so some country forbidden it. |
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