Why bitcoin is not supported in some countries?

[ranz_18]

I think the reason behind why bitcoin is not supported in some countries is because bitcoin is decentralized. Government doesn't allow any form of system in a country which is not taxable.  That's my thought.

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[ggod5]

In my country, only when you discover that you trade bitcoin, you may be taken to jail. They think this is an illegal and dangerous thing.

[paras20]

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

In some other countries they Dont supported bitcoin because they don't want their currency to be dead

[Hotel_Prodeo]

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

Of course this is sad because it will make bitcoin users panic, I hope the bitcoin banned country immediately consider the benefits side of bitcoin because if viewed in fact bitcoin can improve the country's economy.

[rtyudg]

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.

Hayek once said that the establishment of a legal currency system is the biggest lie in human history. As long as the international financial system based on legal tenders remains unchanged, people’s fears and fears about finance will not disappear, and speculation on Bitcoin will always exist. Especially in China, people here are so gambling. Many young investors do not have confidence in the currency issued by their own government. In their eyes, although bitcoin doesn't have to be reliable, the government-issued currency is obviously more indecisive. Therefore, the two evils are lighter. They want to use Bitcoin as a means of hedging, or use Bitcoin instead of the legal currency to perform basic functions such as payment and transfer. Therefore, the Chinese government prohibits Bitcoin.

[Ebihsu]

Its not supported by some other countries because government has no proper regulations of it and they cannot get taxes, but no matter what their excuses are, they have no rights to take away freedom of choice from their citizens.

[daarul50]

In my opinion, some countries are still hesitant to support bitcoin in their respective countries because they do not have any special regulation related to bitcoin transactions that citizens do so the government does not get tax benefits from people who make transactions using bitcoin. I think that is the reason why there are still many countries that do not support bitcoin.

[Carterfinley65]

Bitcoin and cryptocurrencies are a phenomenon that strongly polarize society, economists and governments. While countries like Japan or Belarus want to take advantage of the new technology, other countries prefer to simply introduce bans.This prohibition does not apply to stock exchanges or other services. just got banned for banks. Crypto money exchanges are still allowed to work freely in the country.

[Baggong]

Countries not supported bitcoin because many features on bitcoin are considered dangerous, for example is anonymous, decentralized and so on, with anonymous features of course will make everyone free to save money from crime such as corruption, drugs and so on.

[pxo.011]

its because the governments of other country warns people and some news are fake if the government win againts bitcoin they are planning to enter in the crypto currencies and making their own crypto

[HiringYou]

Everything has some pros and cons,so do Bitcoin.Bitcoin provides us with many advantages but some of it's advantages can be considered as it's disadvantages also, such as it's decentralized nature .Due to it's decentralized nature no government or bank have a control over it so they are not able to track the transactions made through Bitcoin.This make the transactions anonymous and tax free . Many people uses this feature of Bitcoin for illegal dealings of drugs and ammunition. This is the reason why some countries are not supporting it or declaring it as a legal asset or currency .

[Sean25pogi]

I think the reason why some countries doesn't support bitcoin is because they cannot even get taxes on it.
They don't even get a benefits on it. Their government can't implement a law in putting tax in cryptocurrency because of its being volatile in the market.

[dvillier]

since its esteem is high and it makes the nation not bolster bitcoin and there are nations that can not acknowledge cash online as in creating nations and little nations that difficult to achieve the web and it makes it troublesome for nations to help bitcoin

[CryptoPsycho]

Governments of those countries trying to save their taxes, banks and also just scared of cryptocurrencies. As usual people who rules in those countries are old.

[sadwage]

 They not supporting bitcoin because there's a lot of scam in world bitcoin or meybe they didn't manipulate or control bitcoin currency in their country.

[Delos]

The answer is often very easy.

No one start it!

Just do it. Not make anything illegal. Clean business.
Inform the crowd. Give wallet apps. Help by installing and setup. Sell and buy coins. Attract business and vendors to accept bitcoins as payment.

[kolitski]

Their are many reason why most of some countries are not supported in bitcoin because the goverment officials say that it will use in some illegal activities like money laundering and some drug lords and they did not get even any taxes from bitcoin.

[Ljanesanti]

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

There is a lot of reason why some countries are banning bitcoin or not accepting bitcoin. They might see it as a threat to the economy because we know that bitcoin is really uncontrollably.

[daduremi]

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

[zrock21]

It depends on the country what are their standard in conformity and deviance.