Why bitcoin is not supported in some countries?

[adotrulez]

The mere thought of a means of transferring huge amounts of wealth without trace or evidence hence the possibility to fund criminal activities is really scary to most, if not all governments. The flip side of anonymity and decentralisation in my opinion.

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[stadus]

The mere thought of a means of transferring huge amounts of wealth without trace or evidence hence the possibility to fund criminal activities is really scary to most, if not all governments. The flip side of anonymity and decentralisation in my opinion.

The job of the government is to monitor this kind of transactions and I think bitoin is not fully anonymous or untraceable, the government
has the power to do that and they can implement laws to combat this illegal activities.

[vicvicto17]

Because governments wants to control people's money that's why they hate bitcoin coz it's decentralize they can't control money.

[Miles123]

Bitcoin is not supported in some countries because the governments are not interested on how to used this forum becuase sometimes it's hard to understand this site if you don't have any knowlegde on how to join here. Bitcoin can imporve the economy of a country so it's nice if all people will enter here to sustain there daily needs.

[legok]

because not all countries have fiscal policy associated with the use of bitcoin as a means of payment in each country, depending on the existing governmental policies to address this, it also depends on the value of currency in each country

[shata]

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

Well, Bitcoin is not yet legal in all countries. Many countries are already accepted Bitcoin as Legitimate cryptocurrency in their country but other countries banned Bitcoin. Because of many illegal transactions on Bitcoin such as Selling and buying of illegal fire arms, drugs, scamming and snatching and also hacking of accounts that are used in Bitcoin. Their goverment was shocked because many people are attracted to the price of Bitcoin and because of attraction, they tend to do evil things.

[thesmallgod]

Bitcoin are not allowed in some country because they considered it as a threat to their economy. they fear that continous rise in the use of economy have negative implication on their banks and other financial institution. since the coin is completely decentralized. government can not tax any users. also there is fear that banks might lose investors as many of them might result in investing and trading the coin which will not favour the country however i believe these country have not evaluate the benefit rather than focusing on the disadvantages.

[tanginamoo]

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

Bitcoin is not supported in some countries because they are afraid that bitcoin will be used by the terrorists. Also they are afeaid and doesn't have the enough resources to invest to bitcoin.

[fpvlemtmxk]

I think that the laws are different in each country and the law is still not properly decided on the bit coin, so I do not know exactly. I think there is a little time left until the ban.

[Janation]

most governments have not legalized bitcoin, and some actually banned it. the reason is almost the same, that is security issues and crimes that may occur due to bitcoin. however, I think some goverments or people still can not accept this digital currency technology, many still consider that this is a scam.

Those people who consider bitcoin a scam currency are ignorant and do not know what really it is. They just run their mouth based on the things they had seen and heard not on the things they have known and experienced.

There is an instance where bitcoin was reported to the public here in our country, the victim was scammed and he is using a digital currency which is bitcoin. I am watching the news and most of the people was having the wrong idea to this currency, they are saying that the online world is so dangerous that we need to be careful, some said that the currency used by the scammers to get the people's money, what they do not know is the man is to blame because he do not know that the project was a scam and I think it was really misunderstood by the people.

[BeGoods]

Since many people in the whole world are not yet educated about bitcoins. Another factor is some countries are not well develop which they cannot afford to accept this kind of opportunity in their country.
Lastly, many people’s consider cash-based system.

Their society is not very well informed about technology and their country does not yet have a good technological civilization. yeah I think that's the main problem why it's still rarely bitcoin users in some countries. imagine the number of bitcoin users in a country that has rapid technology like japan. of course the user is big enough right ?

[CR7_JUNIOR]

A country are going to be at risk if they settle for bitcoin. It's volatility can very crush down a rustic. That's why they solely can't settle for a digital currency while not a stable  price. Some stores may settle for the currency however not the full country. 

[Joriecoinbit]

Bitcoin are not allowed in some country because they considered it as a threat to their economy. they fear that continous rise in the use of economy have negative implication on their banks and other financial institution. since the coin is completely decentralized. government can not tax any users. also there is fear that banks might lose investors as many of them might result in investing and trading the coin which will not favour the country however i believe these country have not evaluate the benefit rather than focusing on the disadvantages.

You have a point. Bitcoin is decentralized and the Governments can't control it. Also, it can be used in illegal activities since transactions in bitcoin is anonymous, it can be used in money-laundering and terrorists financing.

But despite of other countries who doesn't support bitcoin, Japan and Philippines were warmly recognizes bitcoin in their country. As of April 1, Japan officially recognizing bitcoin as a legal payment method. On the other hand, Philippines recently accepted bitcoin as a legal remittance method that can be used within the country to move money from one place to another.

This only proves that bitcoin continues to flourish throughout the world despite of negative feedback from other countries.

[millgates]

Some of those countries are pretend bitcoin as a threat for their national currencies. Actually there are many reason why those are not supports bitcoin, china's government hates bitcoin because there are many of their citizens are use bitcoin to move their wealth out side of countries.

[tinytrader]

there are some reasons why in some countries bitcoin is not supported are, there will be zero revenue for govt from this bitcoin transaction, and people will use btc cause then people will have more control on their asset and government will loose control on people's fiat money. Only for these two reasons, the govt will reject bitcoins that's it. If they get income, then no govt will stop any business.

[Brown_Fish]

A country are going to be at risk if they settle for bitcoin. It's volatility can extremly crush down a rustic. Thats why they simply can't settle for a digital currency while not a stable price. Some stores would possibly settle for the currency however not the complete country.

[Uno17]

Maybe they are not convinced yet and didn’t believe that bitcoin will work throughout in the future, that’s why they are not supporting btc at this moment but maybe it not impossible  also that from not supporting to switch in supporting bitcoin in the future if they found out how it works in the society, especially for those who wishes more of income

[thepolarbear]

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, maybe the countries that are not supporting bitcoin see it as a risky step to their government because of not all their citizens are knowledgable about bitcoin. Addition to that, some countries are still have doubts in using it due to they didn't know what's ahead in the future of bitcoin. Also because of security issues. They are not supporting bitcoin for a reason that maybe it is still unknown to them.

[wjchong]

Why bitcoin is not supported in some countries?
Because these countries were anable to control Bitcoin and they were not interested in Bitcoin. They don't found Bitcoin profitable.

[valisa]

today there are many countries that have not received bitcoin as a means of payment that functions the same as cash, many reasons that merika provide such bitcoin used for money laundering and many more reasons they