Why bitcoin is not supported in some countries?

[HalfDeck]

Some countries do not support Bitcoin because they see it  as a threat to their own Fiat currency. If everybody starts using Bitcoin or other cryptocurrencies for payment and everything then who will use Fiat money? Moreover bitcoin's decentralized, and the government can't control it so many countries don't accept it. The government just bans everything which it can't control.

As you said, why does the Japanese government still accept the cryptocurrency? I doubt this thing, if the Japanese people are using Bitcoin or other cryptocurrencies to replace Japanese yen, the government will ban cryptocurrency as soon as they can, trust me!

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[Colt22]

I think sooner or later each government will need to decide on bitcoin - whether to "approve it" or make illegal - and naturally authoritarian governments tend to forbid everything they do not understand "just in case" while more democratic try to accommodate. Nevertheless there will be more and more regulation of bitcoin and cryptocurrencies in general - which is not necessarily a bad thing...   

The main reason about this fact is countries governments are still thinking and they want to see the future scope of bitcoin and as they will be satisfied then they will declare at every forum that bitcoin is legalized in their region for this purpose economists of every region must be given a short seminar about bitcoin so that he can tell his government that how much beneficial is bitcoin, once 60% of world start using it then will be awesome.

[AimHigh]

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

Yes you are right even in our country the goverment official didnt recognize cryptocurrency or we should say bitcoin they btoadcast in televesion even radio that if you join in trading or in bitcoin currency they are arrest you at put in the jail so that every user of bitcoin was always careful. Why they are doing this they didnt know the benefits of using bitcoin.

[USScrypto]

First of all you have to understand that blockchain is distributing servers into many places. And by doing the mining stuff you actually are being a server for transactions.

[JCLee]

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

As in my country Bitcoin is also banned, it would be a violation of the law if the Bitcoin transaction between individuals next year, when the law began to apply. In fact, governments forbid the BTC from fearing that the cryptocurrency would cause the country's currency markets to be affected because at present the prices of the Bitcoin are very high. As in the country I tend to make a lot of money from the BTC, the government has banned the BTC completely to prevent the BTC replacing offline currency.

[Amilhussin24]

Some countries don't support bitcoin, for the reason of preserving their economic policy. Bitcoin is, as we all know it is absolutely opposite to a certain government. Bitcoin is decentralized. When using bitcoin, people is free from taxes which is the government number one policy. I think that is the reason why other countries don't allow people to use bitcoin.

[Bugoy.koykoy]

I think why bitcoin is not supported in some countries because they dont know how to manage or use this and some of them think to bitcoin is scammer . Also bitcoin have no taxed so the government is opposed to it

[bajigur894784]

There are many reasons and reasons, among them; Since Bitcoin transactions are one-way, there is little protection from fraud without rejecting payments, but this can also be done in other ways by preventing unlawful payment rejections.
And this is one of the areas of the legal framework under consideration in some jurisdictions.

[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

I think some countries that forbid the use of bitcoin are some underdeveloped countries, I think you should go out and go to a more developed country but that is not very feasible. I think in the future bitcoin will be accepted nationwide.

[beezunus]

I think there are some countries that do not support bitcoin because they assume that bitcoin is the digital currency and not the country's official currency, full of risks and there is no law governing it, so it could hurt its users

[aamin]

I think because it is not internationally recognized and some countries think it is a fake coin and just a bubble will go away with time

[tinytrader]

I think because it is not internationally recognized and some countries think it is a fake coin and just a bubble will go away with time

It is obviously internationally recognized. Most of the government thinks that if people get enough permission to use btc within their monetary system, people will have almost every control and authority will loose control over the public's asset. BTC is also volatile and dangerous too. If you do not know what you are doing

[Creating N Action]

I have heard about bitcoin that was being banned by other countries. Think about of it. Why other country banned bitcoin? Why bitcoin are not supported in some countries? I think the main reason why butcoin is not supported in Some countries becauae they think that it is risky. For them, bitcoin can affect their economy to fall down. They think that bitcoin is a illegal activities.But Some countries don't know that bitcoin have advantages and benefits that you can get. Bitcoin serve as job for us so that we can earn an extra income and we can save it for our future. Some countries think that it is too dangerous and bitcoin is not their priority. They have their own way to to earn money why did not support bitcoin.

[valisa]

countries that do not accept bitcoin may have different policies, I think bitcoin is good for all countries in the world, because bitcoin is a good digital asset and can improve a country's economy

[FlightyPouch]

I think because it is not internationally recognized and some countries think it is a fake coin and just a bubble will go away with time

I do not know why can you said that but bitcoin is really popular in many countries today. It was triggered by the volatility of bitcoin, well, who will not be attracted to the quick or fast changing of the price and with a short period of time, you can see your profit without any hard work but I think you just need to a lot of patience. Bitcoin is the original digital currency, people will not be taking it as a fake coin unless that individual do not know what a digital currency is. They are talking about bitcoin but the truth is, did not even know what really is it and what is the purpose of this currency. Also, bitcoin may be bubble, but I think it is a bubble that will not be popped soon.

[kukurikapu]

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

They are afraid of innovation. They are afraid that bitcoin can be used by the terrorists to conquer their country. Also they didn't have the courage to take risk of their resources to earn.

[inanilujimi]

I have heard about bitcoin that was being banned by other countries. Think about of it. Why other country banned bitcoin? Why bitcoin are not supported in some countries? I think the main reason why butcoin is not supported in Some countries becauae they think that it is risky. For them, bitcoin can affect their economy to fall down. They think that bitcoin is a illegal activities.But Some countries don't know that bitcoin have advantages and benefits that you can get. Bitcoin serve as job for us so that we can earn an extra income and we can save it for our future. Some countries think that it is too dangerous and bitcoin is not their priority. They have their own way to to earn money why did not support bitcoin.

I agree with you.
maybe what the government thinks in a country that rejects bitcoin is able to destroy its country. And most of the country does not understand what bitcoin is and can only resist bitcoin on an unclear basis.

[Christian13]

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 the reason why some country not supported the bitcoin its because of the anonymity, that is mostly the reasons. It is hard to trust really for the government with something so trivial and something that they can't regulate in their point of view. Though good example for this is Russia which banned Bitcoin and other cryptocurrencies but look at them now who is recognizing and legalizing Bitcoin like Japan because they see the potential and can truly help them in the financial crisis they have been facing. I hope that other countries my see it as well.

[CARrency]

I have heard about bitcoin that was being banned by other countries. Think about of it. Why other country banned bitcoin? Why bitcoin are not supported in some countries? I think the main reason why butcoin is not supported in Some countries becauae they think that it is risky. For them, bitcoin can affect their economy to fall down. They think that bitcoin is a illegal activities.But Some countries don't know that bitcoin have advantages and benefits that you can get. Bitcoin serve as job for us so that we can earn an extra income and we can save it for our future. Some countries think that it is too dangerous and bitcoin is not their priority. They have their own way to to earn money why did not support bitcoin.

I agree with you.
maybe what the government thinks in a country that rejects bitcoin is able to destroy its country. And most of the country does not understand what bitcoin is and can only resist bitcoin on an unclear basis.

The government are the most intelligent group of the country, they can manipulate people the way they want to and they can make things depending on what they want it, also they all have power. If the government rejects bitcoin, it is clear that it will be having a great effect in the country's economy in the future. Think of it, if bitcoin is used by almost of the population of that country, it is decentralized and volatile so the government will be having a hard time to maintain their economy with it. So the result is that country will surely depend their economy to the price changing of the digital currency, so imagine a country's economy that is so volatile like bitcoin, that will be the worse don't you think?

[RaphB]

Governments fear bitcoin as they face huge loss in tax revenues. They also suffer loss in transaction fees due to transactions done through bitcoins. They think that illegal money is easily sent to their countries from abroad through bitcoins.