Why bitcoin is not supported in some countries?

[elliot3003]

 reason is that my government is not accept it and nor deny it, because our government leaders have no interest in public welfare matters.and they still don't understand how to use and control it with their own policy.

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[CryptoGains]

If all people with taxable income from all countries were paying taxes honestly they would have no objection to support bitcoin.

[recklessMe]

Bitcoin is a rather speculative asset, sometimes used  in the past in money laundering and other dirty dealings. Many peole percieve it as the easiet and fastest way to gain a fortune trading high risks - great gains.
Besides, it is decentralized and it is hard to be controlled by gov except for taking taxes from it. To raise taxes from Bitcoin means to accept it legally as a source for taxation. Not all are ready for this.

[jbarcenas18]

It is not supported because the government thought that bitcoin can be used to hire terrorist, transact drugs, criminal acts and doing things that is prohibited by the law. Hence, the government are their to protect the welfare of the people. Therefore, bitcoin is not supported in some countries.

[Spanopohlo]

In my country the government and other Major banks in the country considered it as a Threat, so they said it as a scam or a risky investment. But the truth is, they are troubled because considering the class of bitcoin is a cryptocurrency, thus, when everyone in the country used it or a widespread bitcoin currency is used, the banks will render useless and the government are without tax to earn.

[webdevmastery]

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

What everyone must know that there are some countries that actively use bitcoin s they are UNBANKED, meaning, they live somewhere where it is impossible for them to get a 'normal' bank account, so they have turned to Bitcoin and token assets, for everyday life!

Let's not always emphasis on the banks and financial institutions but rather than what we can do as common people!

Maybe in other countries they think like that, they are only using bitcoins because they cannot get a decent bank to save their money but now a days, most of the people are investing on bitcoins because they want to earn more profit in the future.

[svendoto23]

ahh well because they aren't educated enough or they don't fully understand how and what bitcoin can do in the current economy. BUt some countries are taking their chances and making a step recognizing bitcoin and cryptocurrency and some of them are having regulations how their people can use it in their town/country.

[lfc_san]

Not all countries support bitcoin, one of which is my country. The reason for my country not to support bitcoin is to fear money laundering and illegal transactions.

[Raldyn]

I think because bitcoin does not have a legal basis protecting it in the event of a crime such as theft and even trading activities that can sometimes harm us, the state does not allow for bitcoin because it is a lot of profit in bitcoin. like a bank afraid of being rivaled
 

[Xw73]

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

Yes, some countries do not accept any cryptocurrency, because the majority of this countries do not make the usage of any cryptocurrency. They think cryptocurrency is a big threat to there to government and economy. But somehow there are countries have explicitly allowed its use and trade.

[portalufonet]

I think bitcoin is not supported in other countries because theyre not yet a well-developed country. Those countries are small countries that are trying to develop. I think if bitcoin will be introduced to their country, it will help their economy as well as their country to grow.

[rog1121]

Among countries to have banned bitcoin in the past are Bangladesh, Bolivia, Ecuador, and Kyrgyzstan. The bans seem to have had little effect on the global bitcoin network.These countries are of little consequence to the global cryptocurrency liquidity or global blockchain industry direction.

[rog1121]

The ledger of Bitcoin balances is stored on a network comprised of thousands of individual computers around the world. Anyone can run the Bitcoin program which contributes to that network and stores the record of every transaction that has ever happened. This is what is called a peer-to-peer network or a decentralized network.

[koyo12]

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 they afraid that someday their currency will be vanished and some of their people are getting addicted in bitcoin. So they prevent that bitcoin will not exist their country. But their are country the main used to buy is bitcoin.

[DesperateFix]

Hmm. this is sad

[Becase]

I think that they only see the negative side of bitcoin. They just say that bitcoin is really not good and very illegal. That is the main reason why many governments in various countries ban digital currencies.

[speeder]

 I think banks have a great deal to do with it because you know Bitcoin was created for us , to help people and yes you work but you work from home and you work for yourself and normally they don't agree with this, given that Bitcoin is considered an enemy of the economy of some countries.

[Sonai Moni]

Bitcoin is not supported in some countries because  is very risky. Some countries even declare takes many footstep. There are some countries are bitcoin is supported in legal way. Bitcoin is something connected with illigal activities or tax evason.

[thunderclup]

Bitcoin are not supported in some countries that is because the goverment won't like bitcoin because they can't control it and also bitcoin don't have any tax, so the goverment can't get any profit on it, and for the word 'jail' i think if you use bitcoin if ever there ban no one can go to jail because it is not a fault to use that currency because the people use bitcoin to earn some money for there everday financials, beause bitcoin helps many people that have a financial problems.

[AndreyBitTalk]

Governments, bankers and other small people need their cut.
They want to control cryptocurrency. But it's just a question of time when it will be
free for use.