Why bitcoin is not supported in some countries?

[Msile]

 Bitcoin is considered illegal in some countries which have gone as far as banning them, these countries claim that BTC posts a risk to the states economy,because of its inability to get taxed while some are just threatened by sucess of BTC

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[19nataliya12]

Minister of Finance of India Arun Jaitli provided the country's budget for 2018-1919 and touched upon the topic of crypto-currencies and their use in the country.

To quote, Jaitley said:

"The government does not consider crypto-currencies as legal tender or coin and takes all measures to eliminate the use of crypto-currency in financing illegal activities or within the system of payments."
Indian authorities will fight using crypto currency in illegal actions !!!

[$$$sparkles$$$]

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

Certain laws/regulations are made in each country. Usually in order to protect its people from any fraudulent activities as they would always say. But I believe that each government has a motive of controlling or manipulating everything and anything that's going on within their jurisdiction. Probably with reasons of self gain and interest which is quite normal and cultural in most governments. So if a citizen is mining or dealing with Bitcoin, the government sees that person as a competitor. Therefore, enforcing certain laws in order to shut him down.

[Sand King]

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

 Let's just except that many people are many countries wouldn't accept bitcoin.  Maybe they don't believe in bitcoin it because it is risky and it is not publicized it is their choice to not believe in bitcoin after all.  What's important is we benefit with bitcoin in and  it is not our fault anymore if people wouldn't except or believed in bitcoin

[Paopao]

I think Maybe they are less knowledgeable about bitcoin, or narrow-minded about it. Or it could be that they treat bitcoin as a threat for their country. And I do not why? But I believe that sooner or later they will receive bitcoin like the Russians did before.

[claydeey]

The main reason why Bitcoin is not supported by authority in other country is ignorance or the negative information they've learned about Botcoin, while others feel threatened by Bitcoin characteristics.

[jakezyrus]

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

 Let's just except that many people are many countries wouldn't accept bitcoin.  Maybe they don't believe in bitcoin it because it is risky and it is not publicized it is their choice to not believe in bitcoin after all.  What's important is we benefit with bitcoin in and  it is not our fault anymore if people wouldn't except or believed in bitcoin

agree. if that is their decision then let them to be happy with it because we are also happy with our choice and that is to fully accept bitcoin. infact many things in this world are actually more riskier than bitcoin and im pretty sure they were also aware with that. we shoud not afraid with the risk because that risk can actually lead us to success if we learn how to combat it and adapt it. in addition to that , we should also embrace god on our life in order to earn more blessings and great oppurtunities.

[keeee]

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 are some reasons why bitcoin and other crypto currencies are not supported in a certain country. I think it is because of its disadvantages that can greatly affect the economy of a country. For example, bitcoin can be used to some illegal activities in the internet like buying guns and drugs that can cause to increase the crime rate of a country.

[WorldBiz project]

In its statement, the Central Bank of Bolivia (El Banco Central de Bolivia), said: "It is illegal to use any currency that is not issued or controlled by the government or an authorized body." First of all, this applies to Bitcoin.

[hilman89]

the government is only afraid bitcoin is misused for criminal activity. as we know that bitcoin can be a source of income, investment, also facilitate the transaction. one of the government's fear of fearing the people in a country to do illegal transactions. such as drug deals. besides the government is also fear with false investments.

[sulec70]

Bitcoin is not using some countries  because,it is used to send and receive the money without any bank,in this case there is some mistakes done with bad people.so bitcoin price also not constant this will increase and decrease.

[Angna27]

We we really can tell what their personal and economic views on bitcoin, there maybe some factors they consider threatening if they accept, adapt it and use it on their own place, perhaps maybe in time they will soon realize that there is good benefit it brings in their country maybe for now they're still examining it when the right time come they will accept it too.

[cookuy]

Because Bitcoin is a cryptocurrency, it has the characteristics of anonymity and decentralization. Therefore, Bitcoin is difficult to control. If the national economy is not controlled, the country will easily receive influence. Therefore, the national government does not dare to accept Bitcoin.

[Romanlevi6886]

Maybe they see the dangers of it. The presence of bitcoins may threaten state banks. Until now there have been many people preferring to use bitcoin to trade rather than to direct the banks to perform. If the paper money is replaced by bitcoin, then perhaps the employees who work at the bank will lose their jobs.

[tesmark07]

I think they don't support bitcoin because they thought it was a scam or illegal.
We all know that there are some media who makes fake news for bitcoins to destroy its reputation.
Also they afraid to crypto currencies.

[altercreed]

Maybe it affect to the value of their money or stock market

On top of that, government banks can never get any penny from any transactions made in the blockchain since cryptocurrencies are decentralized. So crypto people are having big profit and tax-free.

[Bestthefriend]

A lot of governments still do not understand bitcoins. They are trying to find a way to regulate and control it but it's not an easy task so for now, they just kick against it.

[Javelie]

There's many reason why bitcoin is not supporting in some country. One of the big reason is its banning. For someone countries its illegal and UN famous coin. Government are against it because its a tax free and they're afraid people start using it and not pay tax to the.

[tiar4dewie]

I think the economic conditions of each country are different, and this also affects the value of the currency.
And I mention most countries that resist bitcoin are developing countries. They are still prone to deflation in their currencies. and bitcoin if left to them, will experience a monetary crisis because Bitcoin prices are very high.

[Kopceak_MD]

Probably the government is afraid that it will not be able to manage the bulk of people