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Author Topic: Why bitcoin is not supported in some countries?  (Read 98431 times)
(altair)
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January 09, 2017, 11:19:16 AM
 #261

I think it is not supported in some countries because of tax evasion and they can't control it,

or maybe they are scared caused other users use it to buy some drug's or anything that is illegal through bitcoin
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January 09, 2017, 11:32:26 AM
 #262

I think it is not supported in some countries because of tax evasion and they can't control it,

or maybe they are scared caused other users use it to buy some drug's or anything that is illegal through bitcoin

Nope, that's not true, local exchanges in each country pay taxes in the government... It's not under their control, that's true, but that's not enough reason to not support bitcoin.... It is possible that they don't know bitcoin and if they know bitcoin, maybe other countries don't support it and that is why others do the same... But if government see that it is beneficial to its citizens, maybe they would...

Actually we should be happy that bitcoin is not supported by government, atleast that's the only thing they do and don't push on banning it...  Smiley
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January 09, 2017, 11:38:10 AM
 #263

Most countries do not support bitcoin because they do not recognize it as part of their acceptable monies hence anybody can use it freely as they see it to be of no value.
I think cause of susch sides of bitcoin, as freedom and independend some governments see danger in bitcoin and that is why they do not support its spreding on their territory. Wise politics can see a big profit in bitcoin and in some countries are already there is the process of creating some laws to regulate bitcoin.
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January 09, 2017, 11:52:24 AM
 #264

Some countries are afraid of bitcoin  because it will cause some illegal actions such as laundering black money, purchase of drugs and weapons, illegal money transference to foreign countries. Beside that the government will lose taxes from bitcoin transactions because bitcoin is decentralized and is not controlled by financial offices of government.  
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January 09, 2017, 12:28:45 PM
 #265

Most of governments have think for just one side of Bitcoins Technology but still the governments don't have test possibilities of another side of Technology. Which countries have understand power of blockchain technology are thinking for use of such a innovative platform for better administration and governance.

Bitcoin is decentralized cryptocurrency which is not regulated by any government.
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January 09, 2017, 01:03:33 PM
 #266

Some countries are afraid of bitcoin  because it will cause some illegal actions such as laundering black money, purchase of drugs and weapons, illegal money transference to foreign countries. Beside that the government will lose taxes from bitcoin transactions because bitcoin is decentralized and is not controlled by financial offices of government.  

Yeah these are some reason why in few countries bitcoin is not supported. I think most popular bad activities using bitcoin is purchase drugs. Peoples who doing that feel their identity is safe.
If transactions drug with bitcoin more booming as new criminal methods , truly it will give bad affects as bitcoin image.

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January 09, 2017, 01:14:11 PM
 #267

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

Actually almost all countries not supported bitcoin but their citizen are allowed to use bitcoins. Well, i never heard that news about 6 months jail. But in my country, the government is not know about bitcoin, even the citizen also not know. Only some people know about bitcoin in my area.
Even the countries not support the bitcoin but at least you still can use it online.
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January 09, 2017, 02:38:30 PM
 #268

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

Actually almost all countries not supported bitcoin but their citizen are allowed to use bitcoins. Well, i never heard that news about 6 months jail. But in my country, the government is not know about bitcoin, even the citizen also not know. Only some people know about bitcoin in my area.
Even the countries not support the bitcoin but at least you still can use it online.

every government in the world knows about bitcoin, bitcoin didn't start yesterday it has been 8 years so believe me they do know about it and the fact that they don't say anything about bitcoin is that either they agree with it or since nobody uses bitcoin in that particular country they keep silent.

Buying the dip...
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January 12, 2017, 02:56:15 PM
 #269

Because bitcoin is decentralized, so government has no control over it, only it's owner has. And bitcoin is anonymous, it has potential for illegal use, like scam, money laundry, drugs, and guns.
yes the government is too frightened to use bitcoin. this time bitcoin does have a fast enough rate movements. so they think that bitcoin can give chaos in a country's economic system.


I agree with you that they were frightened to use bitcoin. And one more thing bitcoin doesnt have any identity  of the sender or receiver of the money even they will not know if the man behind the account is a girl or a boy. And its being decentralized that does not make government control it which they dont want to.


Well, being aware of whether the genders of someone who sending or receiving the bitcoin is a girl or a boy is just silly and stupid, there's no point on worrying something like that and it can't be included to few reason of why the government or people are frightened to use bitcoin, that's really unreasonable
I think the government is not afraid of using bitcoin, it's just, it's probably going to make a country's loss, when the price of bitcoin down. the government may think of the negative effects that may occur in the future. because of this, the government is not using bitcoin to be in the interests of its people. yah, but the government does not prohibit to use bitcoin, so, I guess, people who have to manage their own bitcoin.

I think few countries have no issues with Bitcoin and its Usage But wise people will still use bitcoin because of the huge advantage and potential it offers. I think Bitcoin is still in its early ages and adopting it now means you are among the pioneers of this digital currency.

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January 12, 2017, 06:41:49 PM
 #270

Many countries have very strict control over the payment of taxes and if a person is living beyond its means, which has declared, that its mandates under the laws.
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January 12, 2017, 06:56:14 PM
 #271

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

Actually almost all countries not supported bitcoin but their citizen are allowed to use bitcoins. Well, i never heard that news about 6 months jail. But in my country, the government is not know about bitcoin, even the citizen also not know. Only some people know about bitcoin in my area.
Even the countries not support the bitcoin but at least you still can use it online.

every government in the world knows about bitcoin, bitcoin didn't start yesterday it has been 8 years so believe me they do know about it and the fact that they don't say anything about bitcoin is that either they agree with it or since nobody uses bitcoin in that particular country they keep silent.
It can be even and vice versa. The fact that, for example in my country, bitcoin is not officially recognized, but commercial banks are not afraid to spend it with surgery.
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January 12, 2017, 07:16:46 PM
 #272

In Russia, for example, there are laws prohibiting the use of bitcoin. And almost all the operations are not legal. This can lead to bad consequences. Members are oppressed.
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January 12, 2017, 07:22:21 PM
 #273

now just the initial stage of the development of Bitcoin and some governments do not really understand the consequences, and forbid not to risk the economy
Some countries do not trust the technology, they believe it is a fraud. Most countries that ban it are just being selfish, they do not like the idea that they don't have control over the currency. Some government believe it will encourage criminal acts.
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January 12, 2017, 07:30:55 PM
 #274

now just the initial stage of the development of Bitcoin and some governments do not really understand the consequences, and forbid not to risk the economy
Some countries do not trust the technology, they believe it is a fraud. Most countries that ban it are just being selfish, they do not like the idea that they don't have control over the currency. Some government believe it will encourage criminal acts.
If the country's banks are starting to test at its facilities blockchain technology, I think, and the legalization of bitcoin quickly become on the agenda. Although today more talk about bitcoin not.
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January 12, 2017, 07:49:31 PM
 #275

I have long noticed that many countries are not allowed to conduct any business at all with cryptocurrency. But at the same time, in other countries where there is still bitcoin, bitcoin legal status differs. Some operations can be performed, and the State shall recognize bitcoin as a currency, and the other only to conduct operations without official recognition.
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January 12, 2017, 08:19:25 PM
 #276

I think countries see some danger in bitcoin cause of it is controlles currency and there priests or some other dark activity can use bitcoin for their stuff. 
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January 13, 2017, 04:31:49 AM
 #277

I think countries see some danger in bitcoin cause of it is controlles currency and there priests or some other dark activity can use bitcoin for their stuff. 

True is nothing danger in bitcoin. Actually once bitcoin centralized money any then all the government transactions will become a open ledger and government does not that to happen because politicians want to scratch the people tax.
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January 13, 2017, 08:05:02 PM
 #278

I have long noticed that many countries are not allowed to conduct any business at all with cryptocurrency. But at the same time, in other countries where there is still bitcoin, bitcoin legal status differs. Some operations can be performed, and the State shall recognize bitcoin as a currency, and the other only to conduct operations without official recognition.
Some countries don't give too much attention to bitcoin because although there is a lot of trade taking place, bitcoin is still small in those communities but as bitcoin keeps growing you can be sure there is going to be a growing awareness of bitcoin and what it can do.

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January 13, 2017, 08:35:56 PM
Last edit: January 13, 2017, 09:23:28 PM by deisik
 #279

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

Most likely you meant to ask why Bitcoin is not legally accepted in some countries, right?

If this is being the case, then the answer is pretty straightforward. The governments of these countries are simply afraid of Bitcoin and not without reason. They may cook up whatever excuses like Bitcoin being used for criminal activities such as money laundering and terrorism financing (as if cash weren't used for that as well, and likely with even better results), but the harsh truth is that Bitcoin competes with their local currencies and may eventually outcompete them. It is like the US dollar which everybody loves but which the governments can still more or less control through foreign currency exchange operations carried out by banks (apart from cash transactions, but these are small overall). While Bitcoin is totally outside the scope of their command, and that's the primary reason why these governments are heavily opposed to it

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January 13, 2017, 08:36:48 PM
 #280

If we look to the broader side, there are some countries that only tends to follow the global trend of developed countries. If majority of developed countries said no, developing countries as followers will say no too. Unsupported doesn't mean the state doesn't allow it, but the state refused responsibility for the use bitcoin every citizen.

That's not to mention we are talking about a country at war. Internet facility is certainly very chaotic, there is no chance to get in bitcoin

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