Why bitcoin is not supported in some countries?

[Marrying_Couch]

we should appreciate a country that does not support bitcoin, because there is a legal basis that protects it, one of the reasons the country does not support bitcoin is bitcoin does not use taxes every month or year, and the other reason is in terms of security and decentralization of the system, becomes a problem for a country if the system is lacking, hence the country does not support bitcoin.

[1714747258]

1714747258

[1714747258]

1714747258

[Schultz88]

Many countries prohibit the use of bitcoin because there are a lot people that using bitcoin for criminal activity and this is what made government discomfort by the global use of bitcoin. Although bitcoin not permitted but peoples still buying bitcoin.

[Tonygold1967]

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

Because it is risky for state economics, some states might loose profit and it might damage national currency. Besides some government are not able to deal with related criminal problems and control income of citizens, so they cannot receive income taxes. So, they prefer banning.

[Pasadoble]

Maybe they are not able to regulate it and take some risks, so they ban it.

[chilling888]

Following this thread. 

[Tubig]

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 don't support crypto because they think they won't get any profit from it. And also the technology on these countries are low.  They think they are being cheated and being robbed.

[randulakoralage961007]

Bitcoin is created for underground transactions.So, governments of some countries fear to use bitcoin for their economy.So, They are prohibiting people from using it.

[surfinonmyownwavebaby]

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 don't support crypto because they think they won't get any profit from it. And also the technology on these countries are low.  They think they are being cheated and being robbed.

Which is weird because if you supported it, your citizens could actively participate in the markets and bring some Bitcoin home. You could then tax that Bitcoin and get a piece of the pie, I mean what am I missing here for these countries to not want this to happen?  

[rexter]

I think some country still believe that cryptocurrency uses for illegal trading,money laundering and millionaires uses Bitcoin to transfer money easily carry a big amount of money when going outside the country.

[Mr.John19]

Maybe they are not able to regulate it and take some risks, so they ban it.

For addition information. The bitcoin is volatile. Not at all country is prepared and will to take the risk their economy to show bitcoin it's a safe currency. Bitcoin can use every person for any purpose some person uses the bitcoin on the criminal activities and to money laundering because the bitcoin is decentralized no single one person even the government track the transaction with it. I read an article that bitcoin use on selling the drug so that paper money involved in the illegal trade.  Whatever they pro and cons I happy that in the Philippines they allow the bitcoin.

[Cronli]

Wow, that's very unfortunate .. Is not bitcoin can reduce unemployment in each country, because all generations can wrestle in this bitcoin as long as they know how it works.

[rosanoe]

I think other countries not supporting bitcoin because they think that this is illegal, but it is not. It helps people to earn some money with the help of some effort.

[zitao]

There are actualy just a few countries where Bitcoin is actualy supported in legal way. All others are just tolerating or ignoring it or it's banned. The reason is probably because there is stil dominant thinking that Bitcoin is something connected with illegal activities or tax evasion, or the attitude is that Bitcoin is threath to financial system or the simply just don't know what to do with it.

[bakulsandal21]

Because bitcoin could break their laws. Because bitcoin can cause a lot of trouble if they allow bitcoin to use. Bitcoin can use for crimes like money laundering, scamming or even use for ransom. Have you heard about ransom ware? As technology is evolving. Crime is also evolving. And its bad if terrorist use bitcoin for buying equipments to make terror to people

[bts378]

They are afraid that people on a certain country will fully switch to bitcoin and with that thing happen problem will arise regarding on implementing tax and thats the time the government will have a very big problem because most people do already have the control on their money unlike on banks which is regulated by the government.

[svetochka.yakovleva.93]

I think some countries need to think about bitcoin is so because having in its arsenal a small bundle of prohibitions, for example, in the same Saudi Arabia only tested at that time in the US has long been legalized. Different principles are different development and concept. So always was and budt.

[dvmd]

i think each country has different laws, so BTC want to develop, it needs to time

[shaheer001]

I am sure one day the countries which have banned or just taking steps towards Bitcoin Ban will cry as they though that Bitcoin will down their country economy, i am 100% sure the countries which have legalized the crypto trading the economy will boost and people will become more happy than rest of Bitcoin.

[bayu7adi]

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

is it true, miner also participate in problem in making money with BTC?
whether miner is also at risk of bankruptcy when he mines BTC every day?
I think the regulation that regulates for BTC miner does not exist, banking and government just make drama for investment business model by buying cryptocurrency instead of mining cryptocurrency

[_Legendary_]

Many countries are banned and not supported bitcoin for fear that the presence of bitcoin is used for illegal transactions such as buying drugs, human trafficking, to money laundering, this is because the anonymous feature in bitcoin makes everyone keep the bitcoins unreliable.