Why bitcoin is not supported in some countries?

[mensha]

If we consider concept, architecture or behavior, there is no any illegality in bitcoin. However some people are using bitcoins for some illegal transactions because nu-traceability. Therefore each country has their own policy to address those issues.

[arjunmujay]

actually some countries that prohibit bitcoin, are not prohibiting bitcoin itself let alone for investment, but the ban is to use bitcoin as payment because in a country there is also their own currency. and there are still many rules of the country that must be in tepati so that a country can be conducive. but hopefully later bitcoin into one currency that is recognized in all countries in the world

[m9shn9sh]

I think because they protect their currency so that other country don't support bitcoin. There are many reasons why did not support because maybe it may cause people to financial harm. And they need to protect their currency. They afraid of many risk that's why they not support bitcoin. They not supported because more people wants to use bitcoin and the government afraid, because bitcoin have many benefits among all currencies.

[alexmuro]

In my opinion, Bitcoin is not supported in some countries because they don't know how bitcoin works and what are the great features of bitcoin or maybe those countries are not focused on adoption new currency and they are more focus on enhancing their national economy. There is a lot of perspective to look on.

Yes, I agree with you mate. There are many reasons why bitcoin is not supported in some other countries. For me, the adoptation and how to regulate bitcoin by their governments is the main reason. They think its a threat for their economy since no laws or regulations applied to it. And also they found a possibility that it can be use in any illegal activities because the transactions are hidden.

[Ebihsu]

Depending on country but some countries are thinking that it will destroy there own economy. Even if they do not support Bitcoin now people would still use it in some way, because nothing can stop people to keep using bitcoin.

[Arroware]

As in my country there is no prohibition of using bitcoin, because for my country bitcoin can help people who do not have their main income. While the bitcoin itself for easy way with onlein is very safe to use. So in my country there is no prohibition of using bitcoin.

[Cloak1]

The problem the governments in some countries have with Bitcoin is that it is decentralized.  Since decentralized currency allows the parties involved in the transaction to remain anonymous, there is always a chance that government will intervene in this world to get some hidden information. Due to the inherent decentralized trait of this currency, governments do not have control over this currency because it is decentralized (which may spell terror for governments resulting in regulation)

[Bous]

Governments are afraid that Bitcoin will destroy their economy, so few of them decided to ban BTC. But the real reason is that they have no control on BTC.

[ed_Berrington]

Because the government of the countries does not know what Bitcoin is, and does not understand this completely, and therefore they consider it a threat.

[kolsernik]

Most countries fear that bitcoin would be mainly used for illegal products like drugs and for money laundering.They think that bitcoin usage would reduce their currency usage.They fear of losing their revenues which they get from taxes.In bangladesh,if anyone found using bitcoins, they would be jailed.But whatever measures taken, bitcoin cannot be fully banned since its not possible to ban internet.

[jak3]

First of all, you are not doing anything wrong while you are my name you are just solving some mathematical problems that help the network to generate new Bitcoins and the main issue with the government on Bitcoins is that they do not like Bitcoin. The government has been rules about everything which imports and exports from the country should pay some amount of tax which Bitcoin does not obey so that's why some countries do not support Bitcoin till now or any other altcoin but in the future, they are going to realize it so keep holding your coins.

[boddy.dy]

Bitcoin is not supported in some countries because of different reasons also. And here are some of the reasons based on what I read on some articles and also some ideas of bitcoin users. The most common reason that I gathered is that because bitcoin cannot be regulate some countries did not support it. Well they have a good intention with it because no one want to have something in their country that cannot even be regulated. This is like you are allowing something that you don’t even know what this can do to you. The control is always been an issue in all aspect here in this world without control surely there will always be a misunderstanding.

[yurenchuang7125]

Bitcoin is like the Internet, which prohibits foreign websites. Prices of the goods has always been the supply and demand, what kind of price what kind of demand, now political turmoil in northeast China, safe-haven gold, the currency is rising demand, natural. As a whole, Japan, Singapore, Britain and Australia are more friendly to bitcoin. The situation in the United States is more complex, with different attitudes in different states. But the mainstream is regulation; Russia and Thailand have experienced a strict ban on gradual relaxation. South Korea, like China, is stepping up its investigation of money laundering and illegal financing through digital money, arguably the most stringent. It can be seen that the attitude of the major economies around the world is supportive and neutral.

[johnson4218]

Some countries do not accept bitcoin. simple. Because they can not control. If the government can not control bitcoin, they will ban.

[nbjh]

I think some countries do not accept cryptocurrencies because of their culture and government intervention as this will affect banks primarily and other financial institutions. As the trend spreads quickly and acknowledge as mode of payment to various daily transactions.

Bitcoin cannot be considered controlled because it is fictitious. Therefore, all countries do not recognize the status of Bitcoin.
However, although Bitcoin is fictional and cannot be controlled, because of its scarcity and anonymity, Bitcoin has become an important transaction payment method for illegal transactions on the Internet.

[NATALIEE0603]

There are many reasons why some countries prohibit bitcoin operations. Virtual currency, but the value is real money, but you can not grasp the price of it. If the global bitcoin development, then the state bank will be gradually lost. Therefore, in order to ensure the benefits for some states, it is necessary to issue a regulation prohibiting bitcoin trading.

[shamimal93]

We know that many countries doesn't support bitcoin. Because they have not good technology to control this forum. The country who have advanced technology they must accept bitcoin.

[Ebihsu]

The government are smart enough to understand what Bitcoin is, the government doesn't want to have a thing in their country that they themselves can't even control it.
But soon, they will understand that bitcoin is a good tool to help their economy.

[Rezel111]

every country has different rules and they have full rights about it,and there may be several reasons why they resist bitcoin. and some developed countries accept bitcoin perhaps for reasons of technological development and does not cause harm in their country..

[altysha]

I think bitcoin is not supported in some countries, because government has no control over it and they cannot ask for taxes for transactions.