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Chainblock
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January 06, 2018, 09:57:30 PM |
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There are few countries banned BTC and don't allow their citizens to use it mostly because of the effect on the local currency in exchange for an international one (BTC), Therefore will result in their currency seeing it's actual value compared to other currencies compared to BTC.
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earl07
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January 06, 2018, 10:26:35 PM
Last edit: January 08, 2018, 01:35:44 PM by earl07 |
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Some people uses bitcoin for illegal activities thats why other countries are aware of crypto currency.Although we might think its a way to make life better due to its good side,safeness,transparency,fast,anonimity and value but for some goverment think its a threat for the economy and will affect their fiat money,its not that fast for countries to adapt something they dont familiar with and also every country has their own rules and authorities,and they afraid that bitcoin can be a vessel for illegal activities.
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splat44
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January 06, 2018, 10:51:54 PM |
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Because it's a threat from central banks coz they will experience some difficulties from their investors. because clients wants to transfer their money to bitcoin and will grow alot in 1 year. but in my opinion they didn't support bitcoin because they use it for illegal activties.
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Omega Weapon
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January 07, 2018, 02:29:38 AM |
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For me, I think it is because bitcoin users are unknown, unless they tell themselves. And because of that, government will find it hard to let bitcoin users pay for their taxes, unless they are honest enough. Aside from honesty, I could not find ways on how to determine how much a person own crypto currencies.
Well, yes. Bitcoin users are unknown, unless they tell themselves. Bitcoins are unknown because Bitcoin is anonymous. It is anonymous because a bitcoin user can tranfer and transport a lot of money in just some clicks. It also cause Money Laundering. Bitcoin is not controlled by the government, so that, bitcoin don't pay taxes in every transactions and it is running in the world with anonymity. That's why bitcoin is not supported in some countries. Governments can still impose taxes on crypto by their gateways. But what really bothers them are possible money laundering. Bitcoin is already popular in deep web which is of course not cool on governments. Terrorism and countries like North Korea are also possibilities why these countries will never tolerate and as much as possible will try to control this technology. They can impose all the taxes they want, the thing that really bothers them is they cannot take your bitcoin at will, governments and banks are together in this, that is why governments are fine with banks since they can ask banks to freeze any account and they do it, but when it comes to bitcoin that is impossible and they resent bitcoin because of that. |
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linkHA
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January 07, 2018, 02:36:08 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
This is a simple question. If they support bitcoin, then their country's inflation will become more serious, which is a problem they don't want to face. |
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Brangos99
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January 07, 2018, 02:42:33 AM |
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With the rising popularity of bitcoin as a virtual currency, there are concerns about regulations about the possible impact on real currency, tax implications, potential fraud, this has led to many countries issuing legal or legal guidelines for bitcoin used in their respective jurisdictions, so there are some countries that do not support bitcoin, they think bitcoin is a threat to their country.
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tytytm
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January 07, 2018, 03:18:03 AM |
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Because in some countries, many people use bitcoin for illegal activities such as tax evasion and bribery.
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PsylockReborn
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January 07, 2018, 03:25:55 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
Those countries who doesn't accept bitcoin in my own opinion is because: 1. They want to avoid money laundering. 2. They don't have much knowledge about it. 3. They can't see or touch it. 4. They can't understand this innovation is happening so fast that even money can be mined using a machine. 5. Most of the people running the system of governance are too close minded when it comes to innovation and change. |
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ace4549
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January 07, 2018, 11:31:53 AM |
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I think the reason behind why bitcoin is not supported in some countries; many countries in this world are not yet well-developed through this these countries are not yet capable enough to accept this kind of innovation and opportunity. I think that is the reason why many countries still not support bitcoins.
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racham02
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January 07, 2018, 12:09:51 PM |
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Bitcoin is not supported in some countries because every country has his policies and also because bitcoin is unpaid tax or else because somebody else uses bitcoin for bad like for example with drugs and criminal activity.
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JerryJam
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January 07, 2018, 12:38:03 PM |
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Indeed, some countries do not approve bitcoin. There are several reasons for this. It is believed that it will lead to the collapse of the banking system. The state may lose its investment in the business or financial sector. The batkin is difficult to control. It can lead to a depreciation of paper money. Bitcoin has the right to exist because its cost is constantly races
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erox
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January 07, 2018, 12:42:16 PM |
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I think that States are simply afraid of bitcoin and understand its advantages over their system. This is an attempt to defend himself.
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Ranly123
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★777Coin.com★ Fun BTC Casino!
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January 07, 2018, 12:46:14 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
A currency that is very volatile cannot be accepted as main currency. That is the main reason why there are countries that are not accepting bitcoin. They are afraid that people might broke when volatility strikes. Yes bitcoin is profitable especially in a long term investment and profit is bigger tham regular banking but as i said, the risk is really high to be accepted in some countries. |
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tot-o
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January 07, 2018, 12:52:27 PM |
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Some other countries doesn't support bitcoin due to some of their reasons,
One is if they have a law regarding to something then diffinitly they are oblige to do do so,
One example is if a product doesn't come from their country or this product doesn't have any approval from the government and their policy that there should be no one shod be using or selling them....
Then that's another issue....
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Tatzky
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January 07, 2018, 12:56:07 PM |
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Not like in our country that is very open to all kind of trades....
Some country are also strict on their own, some country tries to protect their people,
We can't blame them when they doesn't support bitcoin, we have different kind point of view.
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habibruis
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January 07, 2018, 12:56:27 PM |
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yes, it is true! my country has banned all kind of crypto. It also declared Jail for using crypto and bitcoin. The government thinks that bitcoin is not real money issued by any other government. they also think that there is no fair way to pay tax with bitcoin.
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shetat
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January 07, 2018, 01:00:35 PM |
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The important thing is our country doesn't banned us from doing trade and transaction on bitcoin.
Well I'm not saying that I'm not concerned on those people who want to do bitcoin but they are forbidden to join, well it's up to them on what are their plans....
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marroxas
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January 07, 2018, 01:03:37 PM |
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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.
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thenameisjay
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January 07, 2018, 01:14:17 PM |
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Maybe because they don't have the means to support cryptocurrencies yet. They don't have enough hardware or even fiat money reserves to welcome cryptocurrencies in the circulation of money. Honestly, it is possible to incorporate digital currency to banks in all countries, I just think the risk is too high to take, though.
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Maheshkumar_Hrangkhawl
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January 07, 2018, 01:20:04 PM |
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yes, it is true! my country has banned all kind of crypto. It also declared Jail for using crypto and bitcoin. The government thinks that bitcoin is not real money issued by any other government. they also think that there is no fair way to pay tax with bitcoin.
Sooner or later, the government will realize that it is impossible to ban Bitcoins. Doing so will only drive the sector underground, which will make it nearly impossible for the authorities to track and tax the users. Just see how Japan is benefiting from the legalization of crypto-currency in that country. If the authorities are intelligent enough, they will understand this. |
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