Why bitcoin is not supported in some countries?

[dsaijz03]

You mean banned? In our country bitcoin is not supported but it is not ban so I can still participate in any bitcoin activities not like in other country they cannot participate (e.g. Signature) we do notcexactly know the reason, what matter most is to continue supporting bitcoin.

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[vanjava]

Because bitcoin is widely misused by corruptors who can be used for investment and to eliminate traces. Therefore, in some countries is prohibited and very detrimental to state finances.

[sgenuine]

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

Most of all cryptocurrencies are used in countries with a troubled financial system. In such countries it is more convenient for people to use a blockchain to transfer money inside the country and around the world.

[xuv500]

Bitcoin is not supported by few countries because they don't want people to get profit without their intervention and without their tax in it, the other reason is banks force countries to ban or not support Bitcoin since banks will be lost if Bitcoin comes into existence. Misleading news and misleading people in countries also not supporting Bitcoin.

[Ziomuro27]

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

Different countries has a different rules. On my opinion, bitcoin is risky from other countries, becasue their are situations that it is using for terrorism, for crimes and things that will give a problem to a certain country. Banning of bitcoin is also what i read and heard from some people here in bitcoin if you read some of the comments of other users here in bitcoin forum you will find the answer of your question, I just give you a little idea and I hope it helps you.

[Jdragon6x6]

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

Well for my own opinion, bitcoin is a digital currency that you can able to use in some stores or etc. But not all countries accept bitcoin as a currency and it is not easy at all.

Yes, actually, with the rapidly depreciating as it is likely that the use of digital currencies such as bitcoin will be banned in some countries. Because they think bitcoin is a big threat to their government and their economy, and also some countries consider cryptocurrencies to be legal tender and will try to phase out payments using coins such as bitcoin.

[Bitcoinnumberone]

Their countries , their laws.  It really depends on your definition for not supported too . If we speak about banning then as far as I know I don't think there is a country that actually banned bitcoin , at least nothing official and If there is then Its related to the banking system with one way or another . If its about the lack of usability in ATMs , local shops then there are plenty of countries and It takes time as some countries have more priorities .

Other countries banned cryptocurrencies because theu fear that this currency might be used for illegal transactions and purposes. They do not want this currencies to be used against the government.

[marjoree]

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

One of the reasons why some other countries don't support bitcoin or any other crypto currencies is the fear of ignorance of fiat because they think that it will be the cause of falling of their economy, but the economists of India realized and said that the bitcoin's economy has nothing to do with the economy of a certain country.

[Eros1on]

In China, for example, the BTC is seen as a scam, using the blockchain technology to create a scam. The government has been cracking down on the BTC.

[cokkapaga]

Their countries , their laws.  It really depends on your definition for not supported too . If we speak about banning then as far as I know I don't think there is a country that actually banned bitcoin , at least nothing official and If there is then Its related to the banking system with one way or another . If its about the lack of usability in ATMs , local shops then there are plenty of countries and It takes time as some countries have more priorities .

Other countries banned cryptocurrencies because theu fear that this currency might be used for illegal transactions and purposes. They do not want this currencies to be used against the government.

the main reason they are banned of cryptocurrencies is illegal transaction or money laundry
so they are scare that bitcoin will be great in the future and will be the best of payment in the world.

[Gondwanaland]

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 countries not support the bitcoin maybe because there's some rules that violated in their law. There are some feautires in bitcoin that is not acceptable of what the countries believe to. Or let we say that they believe that the cryptocurrencies is illegal in their country and they did not accept that kind of money and beliefs.

[rapperug92]

- Bitcoin may pose financial risk to its holders
- Because there is no guarantee for the virtual Bitcoin currency, the Bitcoin value is speculative only, the user is at risk of loss when the Bitcoin price suddenly changes.
- Citizens and organizations are at risk of being involved in illegal activities, such as money laundering or the financing of terrorism.

[ironm@n]

Because it may drain the power and influence of governments in those countries.
The only hope is that more and more people will continue to use it, and make enough pressure to prevent governments from declaring its use prohibitive.

[Loveaaronbaby]

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 many reasons why bitcoin is not accepted by some countries. Bitcoin, for example, is used by some criminals as a way of dealing with crime. Some officials have used bitcoin to transfer money, so some countries have banned it.

[JohnWick_Bitcoin]

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

Actually its not just bitcoins, its the entire cryptocurrency who are banned in other countries, people can complain about this if they only knew how much money they can really make on investing in cryptocurrency and i hope that every country in the future will have the same idea just like japan's plan for their country.

[clex_us]

My idea is that maybe their government is trying to monopolize the access of bitcoin in their country by their authorities. It is common to people that if there is a source of wealth they will try to keep them for themselves. This is just an opinion though, but I think it is really possible.

[reck1ess]

I think they don't want to adopt on new technologies or maybe they don't want to be manipulated by bitcoin. Both of these are the reasons why countries does not support bitcoin as a whole.

[Jimile]

because countries can't control the crypt because of this lose money in the form of taxation that's starting to limit or come up with new tax fees

[cavaBcoin]

Decentralization and can't control are two of many reasons did bitcoin is not supported in some countries. Nowadays, Bitcoin called "Gold digital coin" and it increased 1,200% in 2017 and many people are investing in Bitcoin. While Government of some country considered that Bitcoin is the biggest financial bubble in history, they afraid this bubble will soon burst and many investors will be lost their money so they ban Bitcoin to protect their people. Moreover, anonymity of Bitcoin did Government of some country afraid Bitcoin will be used to money launder or use in illegal perform.

[ylnar123]

- Bitcoin may pose financial risk to its holders
- Because there is no guarantee for the virtual Bitcoin currency, the Bitcoin value is speculative only, the user is at risk of loss when the Bitcoin price suddenly changes.
- Citizens and organizations are at risk of being involved in illegal activities, such as money laundering or the financing of terrorism.

In short, Bitcoin holds a big risk to investors because of its volatility. Bitcoin can also be used as a tool for money laundering due to it's anonymity to our transactions and it is really hard to trace it