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ZirconiumX
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February 26, 2018, 03:47:56 PM |
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Most countries fear that bitcoin would be mainly used for illegal products like drugs and for money laundering.They think that bitcoin usage would reduce their currency usage.They fear of losing their revenues which they get from taxes.In bangladesh,if anyone found using bitcoins, they would be jailed.But whatever measures taken, bitcoin cannot be fully banned since its not possible to ban internet.
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waitforme
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BBOD The Best Derivatives Exchange
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February 26, 2018, 04:42:50 PM |
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Bitcoin not supported in some countries because of the risks it presents, especially the money laundering of criminals. This allows many criminals to transfer their money to anywhere in the world and governments cannot control it or fight it.
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dilaanQT
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February 26, 2018, 04:47:21 PM |
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Maybe because bitcoin is too risky. The government wouldn't allowed the harmful thing to its people. That's why they don't choose to support bitcoin to avoid negativeness.
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shellomomma
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February 26, 2018, 04:59:00 PM |
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Some countries dont support it because its a threat to banks and investing with btc is very risky thats why government is only protecting its people.
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BILGPS
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February 26, 2018, 05:11:03 PM |
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Bitcoin is the crypto currency so it has no physically existence in my opinion the countries would discourage this currency because of this reason and it may be legal in the near future So for us to hold this currency instead of cash out and other uses it is good to buy some of the bitcoin now because may in the march the prices were high and only the rich people will be able to buy at that time So for me i have to hold my coins for the future and bitcoin is the modern era currency and we can become very successful in the future .
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geula4x
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February 26, 2018, 05:41:33 PM |
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I think some countries' financial regulators are afraid of losing control.
They see so many people investing in BitCoin.
maybe they don't fully understand the technology behind it.
In any case, seeing so much money being poured into something virtual, that they don't control,
and can burst any moment - I think that just scares them.
They are afraid people will put all there life saving into this digital currency and someday just go bankrupt.
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BitcoinPaw
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February 26, 2018, 06:07:53 PM |
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Those countries don't like that citizens don't pay taxes and making money by doing nothing for their country. The can't control them so banning bitcoins.
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maxim196897
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February 26, 2018, 06:22:45 PM |
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In fact, each country has its own policy, maybe governments fear there will be a lot of money wiping or commonly known as money laundering. fair or not this is what we have to face because so far the existence of bitcoin has not yet been recognized.
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ovcijisir
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February 26, 2018, 06:26:11 PM |
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I think some countries' financial regulators are afraid of losing control.
They see so many people investing in BitCoin.
maybe they don't fully understand the technology behind it.
In any case, seeing so much money being poured into something virtual, that they don't control,
and can burst any moment - I think that just scares them.
They are afraid people will put all there life saving into this digital currency and someday just go bankrupt.
Yes, the bitcoin and cryptocurrencies are parallel monetary system that legal organisations can't control (for now). They want control of that funds too, and they will probably find way to regulate this area. |
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roshanface123
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February 26, 2018, 06:36:18 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. The whole thing is still pretty unclear to me
No one can't say an exact reason for it. But I think one of the main reason is...., Banks are the pillars of the countries financial stability. They afraid bitcoin will affect the banking sector of their countries.Another one is high use of cryptos for criminal and illegal activities. |
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hangar18
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February 26, 2018, 07:11:53 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. The whole thing is still pretty unclear to me
No one can't say an exact reason for it. But I think one of the main reason is...., Banks are the pillars of the countries financial stability. They afraid bitcoin will affect the banking sector of their countries.Another one is high use of cryptos for criminal and illegal activities. You are right about the government scare the growth of cryptocurrency can be affect the country's banking sector. However, for the government, cryptocurrency is also a great tool to corruption. No one knows the source income of them when they use cryptocurrency to corrupt.  |
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Bitexpert2017
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Merit: 10
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February 26, 2018, 07:14:28 PM |
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Some countries want to have full control of institutions and finances. But the meaning of bitcoin is precisely that it can not be controlled by someone
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Sexie
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Activity: 420
Merit: 10
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February 26, 2018, 07:35:36 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 , they are afraid that everybody will be using of it. They are not ready yet to accept Bitcoin because, they are just thinking on their side , your cash, how they Will know your assets and your investment. Where they get enough tax to support their government. If they just only know and understand that it really Help People’s life the way they live then they might push everybody to join in Bitcoin. Government could not Help the people enough for living because of high price of commodities with low salaries and yet people struggled enough just to have a better life. They are considered as selfish and Unfair government to Its people. |
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SteshaScott
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February 26, 2018, 07:43:19 PM |
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Every countries have different policy. There is also a question of Money laundering.
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AntonGrishko
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Activity: 224
Merit: 10
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February 26, 2018, 07:48:04 PM |
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I think that maybe their government is trying to monopolize the access of bitcoin in their country by their authorities.
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Karakyli
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February 26, 2018, 07:51:28 PM |
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Now Bitcoin does not have a certain legal status. The definition of this status is complicated by the lack of a consolidated approach to the classification of Bitcoin and regulation of transactions with it in the world.
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hacking13
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February 26, 2018, 07:54:42 PM |
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Well... its not a surprise that is happening. Some countries are not in support of the system because of some proposed negative vibes the media has pushed out there. ANd maybe some countries feel it will crumble their national currencies by people disregarding the fiat system. Bitcoin is a stress free medium of transacting that if other countries know about it, they will definitely be jumping on it.
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josegr4ham
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Activity: 280
Merit: 10
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February 26, 2018, 07:58:52 PM |
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Governments are usually not bitcoin friendly because they can not control it since bitcoin is untraceable. Also they fear that people will stop paying taxes
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Marry Finch
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February 26, 2018, 08:01:37 PM |
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In different countries Bitcoin is classified in different ways - as virtual currency, money surrogate, intangible value, virtual goods and the like. The world has not developed a single legal status of the crypto currency, because of this some countries do not support it.
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zentdex
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February 26, 2018, 11:04:50 PM |
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Some countries don’t support bitcoin because of there jurisdictions, laws or they want to create there own cryptocurrency. We all know that bitcoin’s capability is superb that you can use it to transact money anonymously and fast compared to other transaction sites. Also, we all know that bitcoin comes to many issues that are saying they use bitcoin to buy some drugs or do their illegal activities like scam or fraud. Maybe that is the main reason why some countries are banning bitcoin, or they don’t want to support it. But the primary reason for me why some state doesn’t help bitcoin because they don’t have the full power to control bitcoin or another cryptocurrency or they see bitcoin as a big treat to there economic and financial plan.
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