Why bitcoin is not supported in some countries?

[will777]

People might think that the amount of money flowing out of the country through bitcoin will be huge and it could destabilize the economy and there are several reason that could deter the government to support the use of bitcoin.

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[aoebtc01]

Bitcoin is product of internet. Personally, i don't see any benefit which Bitcoin bring to country. Bitcoin is only for tax evasion and money laundering, it can make inflationary. That's why Bitcoin isn't supported in some countries.

[Df9898]

because its value is very high and it makes the country not support bitcoin and there are countries that can not accept money online as in developing countries and small countries that hard to reach the internet and it makes it difficult for countries to support bitcoin.

[Nyenyepogi]

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 definitive reason as if bitcoin legalized, of course, reduce the use of fiat money. Besides that, bitcoin move freely, so anyone including I and you can control the price of bitcoin, if this happens, of course make the country's economic mess. Other issues such as tax and money laundering would also serious.

[zhxb01]

Bitcoin will involve many aspects' profit as a new type of payment of methods. It will increase many  impossibilities in trading area, may it relates to illegal trades. It is very normal to keep a cautious mind for some countries. I can understand it, I hope Bitcoin would be accepted by more and more people around the world.

[Bruce1614]

There are actualy only a couple of nations where Bitcoin is actualy bolstered in legitimate way. All others are simply enduring or disregarding it or it's prohibited. The reason is most likely in light of the fact that there is stil predominant reasoning that Bitcoin is something associated with unlawful exercises or tax avoidance, or the state of mind is that Bitcoin is threath to money related framework or the basically simply don't realize what to do with it.

[mr_enoc]

Bitcoin is not supported by some countries because they cannot handle the huge transactions with bitcoin, unlike with fiat.  They are not encouraging someone to use it but instead they are implementing rules for not using it because btc is uncontrollable and decentralized.

[barabut]

The countries that banned bitcoin is mostly not the developed countries, their central bank is almost can not control their fiat currency already.

[Mystika]

so maybe bitcoin is not supported in some countries because maybe they think it will be a threat to their currency and it will start to collapse the value.

[bajingluncat]

because to maintain business competition, risk control, and consumer protection because bitcoin is not a legitimate payment instrument issued by the state

[kikay15]

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

Some countries are afraid to use bitcoin because they afraid that scammer will enter their country. So, they protect for their country sake.

[ethan9990]

 because they consider digital currency as freedom of generating part time money that cannot be imposed through taxation.

[Blue Bell]

Many countries have a different policy. They are not interested in what is happening all over the world. for example, a historical phenomenon like the USSR. They existed within themselves and they did not need someone's cryptocurrency.

Well, the crypts were not there. And It clearly showed that if a country lives within itself only, then sooner or later this ideology becomes destructive for themselves.

I agree with you sir there are some countries who are not supporting bitcoin but bitcoin don’t care about hem because bitcoin is accepted by some rich countries and they are supporting as well and some banks have also accepted bitcoin so bitcoin is now very strong and stable then before and it will survive for ever because bitcoin is giving a profit to many countries in their economy and people are also taking profit.

[wahyu.prist]

My country prohibits all forms of gambling and drugs, but for the circulation of bitcoin does not prohibit it and support it with notes used for criminal acts and fraud. Thanks

[justg0tReal]

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

Govs are afraid of people getting on their pay so, they can't track you if you use crypto for payments.

[nemesis_]

Some of the countries or their governments are very conservative and they reject all attempts to break or bypass their conventional economic system. And they simply ban bitcoin or all other digital assets.

Despite the advancement of technology these days, there are still some countries who still do not accept this kind of change. Some are afraid of the harm it may cause to the citizens and the country itself. They might see it as a threat to their economy. Some countries may seek new ways to cope up with the growing technology but there are still who do not want to take risk and better remain with their traditional currency.

[Kodok Bencot]

Many countries are afraid that bitcoin supported will be dangerous, we all know that the bitcoin feature is anonymous so that everyone can store and transact safely without being identified their identity.

[aviclat]

i think because the country want their citizen is safe
because bitcoin is still vulnerable for hacker
i dont know for sure 

[cahbagus555]

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

Many government affraid about fast bitcoin growing. Its happen because they have not controll on bitcoin price and supply. Its much wise if government make regulation on bitcoin and earn some taxes rather than banning

[TepungBeras]

It is true that in some countries there is a ban, maybe it's because of the fear of bitcoin to be misused in money laundering or even for terrorist financing, but that is very detrimental to many people in a prohibited country.