Why bitcoin is not supported in some countries?

[mabell943]

It is sad to think that some countries are not welcoming bitcoins. I think the reason behind is because of they believe that bitcoin is a good source of income and afraid to deal with them.

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[weblaraveluser]

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

Bitcoins will be only available if the government in your country is legalizing cryptocurrency, governments today does not really have a very clear reason on why they are banning bitcoins or maybe they are just envy about other people who are earning a huge amount of wealth from cryptocurrency.

[Lyd]

Some countries don't want to accept bitcoin and they ban it because bitcoin can not be obliged to pay taxes to the state

[Crystacool]

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

Yes, there are still many countries around the world that ban bitcoin. I think this is every country has its own laws and policies, as they think the currency does not benefit their country, they will not accept the COINS, they think the currency will affect the national economy

[mersal]

Because many countries are afraid of bitcoin that their country currency maybe replaced bu crypto currencies so they are banning it,but the countries who banned bitcoin is very less like 5 or 6 countries but in other countries you have to pay taxes of you want to use it.

[BlackSeaConqueror]

I think the world needs more time to understand this technology and it will take a decade from now for bitcoin to reach in every part of the world. There are billions of people who don't heard of bitcoin yet and thus bitcoin is not supported in some countries because not many people use bitcoin in those countries.

[MorganFreemanBeard]

I guess they dont support bitcoin since it may be use for illegal activities. And one important thing also is that they dont have yet enough knowlwdge what bitcoin really is.

[qwerty12]

There are various reasons why some countries forbid the use of digital currencies, especially bitcoins.

The main reason is the fear of these countries will be the volatility and uncertainty of digital currency. In addition , another reason is the fear if the digital currency is used as financing of terrorism etc..

[wowbit123]

I guess it affects there economy. They ban it some countries and they are thinking they might use this as a financial purpose of terrorism . And also other think and can hold with a tax.

[crazycoindagger]

Perhaps the main reason for bitcoin has not been widely recognized by a country is its inaccessibility and desecralization. No one country can control bitcoin even big country like china and US. They just focus on their respective currencies and do not care about the others even they want to destroy other currencies and dominate the world

[PrincessChe]

I just found out that declaring bitcoin will get a prison sentence, in my country there is no such regulation until now, it means my country can still use bitcoin as a tool of paying even though not all cities apply it

[franzkie345]

each country has rules and laws, respectively. there is a consideration that is certainly very important. there are some countries that do not use bitcoin, and some countries are using bitcoin. it is a right of every government.

Here in my country, It is still not legal but few people accepted bitcoin. Other countries will not support bitcoin because government thinks it will be a threat to them, threat to their economy.

[janelleshepard]

each country has rules and laws, respectively. there is a consideration that is certainly very important. there are some countries that do not use bitcoin, and some countries are using bitcoin. it is a right of every government.

Here in my country, It is still not legal but few people accepted bitcoin. Other countries will not support bitcoin because government thinks it will be a threat to them, threat to their economy.

Yeah , that's the problem with goverments. When people, their residents, already accepted Bitcoin but they do not want to adopt it at all.
Why? I think it's all about their benefits on controlling the economy.
I did remember few years ago, my goverment told us that Bitcoin is totally scam, a economy bubble 100%. LOL

[cliffdex]

The reason why bitcoin s not supported in some countries is because Government regulations frown at crypto currencies majorly especially bitcoin. Government support banks as the banks provide financial security to the government. Moreover, the government owns the public sector banks.
Banks will go out of business if they stop printing money and rely on Bitcoins. Nobody likes to reduce profit and suffer a loss consciously when they are running a business

[Periodik]

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

Bitcoin is widely circulated around the globe. And it has given a lot of people much better lives. It has presented itself as a better option in terms of payment. But then again, the world is divided into independent countries and each country is free to make its own set of laws. To each his own. That is why in terms of how a particular country treats Bitcoin, it all depends on the specific country. Some may be friendly toward Bitcoin and some are not. No country can force another on how it is going to treat Bitcoin.

About mining, it is better if you raise this different topic in the mining section.

[Boknoyz]

The major reason about that is its legality and it's not yet full studied by the government. We can say that it's easy to leagalized bitcoin im country but it's not. It would take many years to fully reviewed its currency and it must have a law and agreement. This is something not easy to do that's why it's not supported in all countries.

[Edu martin]

evry country is diffrent they all have their own laws and ruls we should respect them and hope in future bitcoin will be the only currency in the world

[Nivir]

evry country is diffrent they all have their own laws and ruls we should respect them and hope in future bitcoin will be the only currency in the world

Not all government laws are respectable knowing some of them have rigged system and are corrupt unlike decentralization where no one controls it. Hard to imagine seeing bitcoin as the only currency in the world if you are educated enough. 

[Eleanorjean11]

Allowing the use of bitcoin in a country can affect the money supply as demand for fiat could require more notes printed likely to cause inflation and straining of the central bank. Making it difficult to trace any illegal activities such as money laundering.so that bitcoin is not supported in some countries.

[prediction on bush]

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 .

I strongly agree on your opinion that, their countries, laws. And it really depends on your definition are 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. And adding also my opinion that, some countries even declare 6 months jail if her people use bitcoin, Is it fair? I mined few cryptos and have left mining. In addition, each country have their own policy maybe the government are concerned will many wiping the money or commonly known as money laundering and fair or not that's what we have to face because until now the existence of bitcoin is still not recognized. On the otherhand, Those countries fear that Bitcoin will make their economy to go down, Also several taxation problems have been their, as people prefer Bitcoin to escape taxes.