Why bitcoin is not supported in some countries?

[crwth]

I guess those countries that doesn't want to be open minded about innovation is a country that can't foresee the future. I think Bitcoin would really unlock potential when applied everywhere. They are scared of people abusing it but it can't be abused in some cases, just how they are spent I guess.

[1714828526]

1714828526

[1714828526]

1714828526

[1714828526]

1714828526

[1714828526]

1714828526

[1714828526]

1714828526

[seven4smoke]

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

Earlier in totalitarian countries generally prohibits any foreign exchange operations, or even to have a currency. Thus, some countries simply keep people like obedient slaves.

[Harlot]

Because they can harm the countries overall earnings. If you think it this simple. If companies or businesses only accepts Bitcoin than the government will have a hard time tracking all those money that a business earned. It will create an enormous headache not only to government but also the country they are running.

[mikecgna]

Because they can harm the countries overall earnings. If you think it this simple. If companies or businesses only accepts Bitcoin than the government will have a hard time tracking all those money that a business earned. It will create an enormous headache not only to government but also the country they are running.

If the business goes on bitcoin will all financial transactions carried out via blockchain the countries and their governments will lose a lot of financial injections into the budget.

[d-trixx]

Bitcoin "original intention" is a center of self managed currency system, completely different from the central control system of legal tender.
Countries can not recognize and open up an uncontrollable trading platform, will undermine the interests of the state.

Exact point is decentralized money, Until government accepts bitcoin as the centralized money we cannot expect the bitcoin to wide spreaded. I have read that coindesk about the blockchain gonna acquire by the US commerical department. May be US government take lead on it and adopt it. Hope and wait for the best.

First of all banks and the government losing its influence on people accepting bitcoin. Therefore, many of the solutions generally try not to take. Although the question with each passing day becomes more relevant.

[sourris01]

It is still only the beginning and the governments of the countries have not yet realized all the threats that can bring them bitcoin. If a large business would use bitcoin to evade taxes, it will be a real bomb.

[data1]

governing parties are  unable to control this system and hence they care about the losses everyone can get from it and thats why it is one of those  test which their government has taken

[moonya]

governing parties are  unable to control this system and hence they care about the losses everyone can get from it and thats why it is one of those  test which their government has taken

It's all because they can not control, and therefore pose problems for users. The whole essence of the problem is that the government wants to take taxes from all incomes of the population, and on many bitcoin is anonymous, that does not give such an opportunity.

[mrcash02]

governing parties are  unable to control this system and hence they care about the losses everyone can get from it and thats why it is one of those  test which their government has taken

It's all because they can not control, and therefore pose problems for users. The whole essence of the problem is that the government wants to take taxes from all incomes of the population, and on many bitcoin is anonymous, that does not give such an opportunity.

Yes, they don't care with the population, they just want more money and more fees income. If they would really care with the prosperity and happiness of their people they would allow them to use Bitcoins or any other currency the people want. That is just a pretext to lure some fools.

[South Park]

well the bottomline there is that each country has its own rules, laws and regulations.  if the decided to ban bitcoin due to some reasons them we can not do anything about it cause its their country,  its their law.

Or we can just move to some other country, which is more tolerant to Bitcoin. A lot of bitcoin-related businesses are currently migrating from non-supportive countries to those which are more open.

Moving outside a country because of their current posture to bitcoin it is a little too much in my opinion unless you have an important amount of money invested on it, it is an easier decision for business especially if they are online based because they are earning money thanks to bitcoin so if bitcoin is banned in a country than they can just move out but for individuals things are not so simple.

[Taki]

Bitcoin being a decentralized currency will not attract any government not until  they have it under their control which is not possible for now. And for this reason it makes bitcoin usage difficult on a large scale.

That's right that there is no control from government today. But it's going to be. I live in Russia and as bitcoin user I know that a new law is coming on this spring, the law about bitcoin's control. I have heard that our government even plan to put the tax on bitcoin users, the same kind of tax that people pays from their official earnings.

[kanazawa]

It's not supported beucase many socialist, social democrats or "state capitalist" countries cannot tolerate a hurricane currency like Bitcoin so they use any kinda dismantle stuff to don't even let Bitcoin fall into the common ears and in the mouth of people, most it's because they fear that people will let the official coin to get a better one, so, they use this kinda machinism.. like russia, some african countries, Venezuela, (and why not US) so that's it....

[Ocalebeth]

Depending on country but some countries are thinking that it will destroy there own economy what is of course not good.

[chaser15]

Bitcoin being a decentralized currency will not attract any government not until  they have it under their control which is not possible for now. And for this reason it makes bitcoin usage difficult on a large scale.

That's right that there is no control from government today. But it's going to be. I live in Russia and as bitcoin user I know that a new law is coming on this spring, the law about bitcoin's control. I have heard that our government even plan to put the tax on bitcoin users, the same kind of tax that people pays from their official earnings.

That's what will happen if people wants bitcoin to becomre more popular and widely accepted at some stores. They think that it will be more comfortable once there are lots of stores will accept bitcoin as mode of payment.

Since it's not taxable, there will be no government income. So for a super estate or country expect a scenario like you stated if bitcoin will become regulated. Expect some big difference in terms of btc to usd rates in local exchanger rates once it was happen.

[delliaerd]

Depending on country but some countries are thinking that it will destroy there own economy what is of course not good.

Yes I agree with you. Some countries wich not support bitcoin is not really hate bitcoin. The country is not prevent their people to use bitcoin as currency in their region. The people still can use bitcoin without government supervision and responsiblity. I think those countries is just scare about changes, it is normal. I think they will accept  bitcoin in the future. So we only need until the time is come.

[Lauren Smith]

Jail time ? What ate ypwu talking about here ? How can bitcoin not be supported ? All you need is a device and an internet connection and bitcoin wallet and you habe access. Not sure what you trying to say here.

Please show me where you can get jail time for using bitcoin ? You making up stuff now.

[Zadicar]

Depending on country but some countries are thinking that it will destroy there own economy what is of course not good.

Yes I agree with you. Some countries wich not support bitcoin is not really hate bitcoin. The country is not prevent their people to use bitcoin as currency in their region. The people still can use bitcoin without government supervision and responsiblity. I think those countries is just scare about changes, it is normal. I think they will accept  bitcoin in the future. So we only need until the time is come.

Thats the main reason why some countries dont really like to  accept bitcoin because they can already view the possible effects on their economy and to its citizens.Government do already know the benefits and disadvantages of bitcoin but they are really concerned about taxation which bitcoin does really violates thats why they dont like to adopt it.

[grandy]

Depending on country but some countries are thinking that it will destroy there own economy what is of course not good.

Yes I agree with you. Some countries wich not support bitcoin is not really hate bitcoin. The country is not prevent their people to use bitcoin as currency in their region. The people still can use bitcoin without government supervision and responsiblity. I think those countries is just scare about changes, it is normal. I think they will accept  bitcoin in the future. So we only need until the time is come.

Thats the main reason why some countries dont really like to  accept bitcoin because they can already view the possible effects on their economy and to its citizens.Government do already know the benefits and disadvantages of bitcoin but they are really concerned about taxation which bitcoin does really violates thats why they dont like to adopt it.

in fact in most of the countries there is no official support to bitcoin, but their people are giving support to bitcoin, so i think in such countries where the support of the people to bitcoin is very low there bitcoin is not so much popular,

[South Park]

Very simple, because some countries scared many people use Bitcoin to launder money, banks not control Bitcoin, and important is Bitcoin not formally linked to the laws and regulations of any central government, so government not supported Bitcoin

Well it is exactly what I am thinking about. Because the government can not control Bitcoin, they have to promulgate some restriction in order to lessen the power of bitcoin. However, in the future, I think many people will try to break the rule and the Government can not do anything but accept Bitcoin as an optional currency

I hope in the future Government will not accept Bitcoin, because if Governmen accept Bitcoin, Bitcoin will have tax. I don't hope its happen

You are supposed to pay tax on it anyway, if you buy bitcoin at 400 and then you sell at 800 you obtained profits and those profits are subject to tax, how much? That depends on the law of the country where you live.

[bncbnc]

Depending on country but some countries are thinking that it will destroy there own economy what is of course not good.

Yes I agree with you. Some countries wich not support bitcoin is not really hate bitcoin. The country is not prevent their people to use bitcoin as currency in their region. The people still can use bitcoin without government supervision and responsiblity. I think those countries is just scare about changes, it is normal. I think they will accept  bitcoin in the future. So we only need until the time is come.

yes actually the users of bitcoin are not so much in these countries, actually bitcoin is still not so much introduce in these areas, i think they still need a good introduction of bitcoin so that people may start using it.