Why bitcoin is not supported in some countries?

[Thomas2900]

I agree with this statement. Bitcoin is a digital coin. Which works by being invisible. And using some of these benefits, some unprinciplined people are getting involved in crime with Bitcoin. In this, destroying his own future is bringing horrible danger to the whole world with him. And for this reason, bitcoin is completely prohibited for some countries. I think the government has yet to take firm steps because Bitcoin will bring the nation a better future.

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[sumit2103]

Due to blockchain technology it is not possible for any government to control the bitcoin trading. Governments are planning to accept it as legal with some guidelines and rules. On the same side some people are misusing bitcoin for their personal benefits which totally misuse of digital currency and technology both. Transaction are non reversible as compared to other physical currencies. Once the purpose and idea behind the bitcoin will be understood, it will get legal status. Very soon bitcoin will rise globally.

[play1ife]

In some countries bitcoin is banned by their government because bitcoin is decentralized
So it cannot be controlled by the government or banks and bitcoin is tax free so the government won't take profit from it.
Also some people use bitcoin to buy drugs in black market.

[Weeko]

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

All states fear bitcoin as a decentralized system that theoretically can change the entire world order that existed all the time.

[headache1327]

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 success of BTC

[TheSmo]

Bitcoin-network is decentralized: it can not control neither the creator, nor the developers, nor the state. Therefore, most countries treat crypto-currencies with caution: the technology of blocking allows you to pay for illegal goods and commit illegal transactions.

[rxtwo]

I think that would be very profitable to every government to accept bitcoin on the same level as fiat. Just imagine how many money would go in the pockets of government workers in this case! Every operation with bitcoin would be with fees.

[gadimbrut]

bitcoin is not supported in all countries because government policies are different, but today more and more countries have legalized the use of bitcoins

[yraskk]

This is true, i don't know why a lot of countries have bitcoin oficially in their governments and there are not bullish movements on bitcoin yet.

It seems that there is a lot of manipulation on the entire market at the moment.. that is why it is not increasing

bitcoin is not supported in all countries because government policies are different, but today more and more countries have legalized the use of bitcoins

[extremist]

I think bitcoin is not supported in other countries because theyre not yet a well-developed country. Those countries are small countries that are trying to develop. I think if bitcoin will be introduced to their country, it will help their economy as well as their country to grow.

[xbudahx]

I think some country still believe that cryptocurrency uses for illegal trading,money laundering and millionaires uses Bitcoin to transfer money easily carry a big amount of money when going outside the country.

[haychono732]

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[Roksodhon]

In some countries it is not supported because they do not know about the importance of bitcoin. And some countries are afraid of bitcoin  because it will cause some illegal actions such as laundering black money.

[Coinnosaurus]

the best btc qualities are its worst flaws and make governments nervous. This lack of central authority is the main reason why btc is being banned. If btc or any other cryptocurrency become mainstream and universally adopted, banking systems could become useless

[gesdan]

the government dont want to take a risk about the scammer and other criminal using bitcoin, like a corruptor using bitcoin as the media of transferring money, so the government choose to block bitcoin and cryptocurrency because it can traceable by government 

[jerowacik]

In China btc ban is strictly on banks, as the central banking authority, The People’s Bank of China is owned 70% by the Chinese government.

[mariamiltoft]

Some governments are scare of bitcoin because they can't control it since we all know that bitcoin is decentralize and they can't take charge tax for those who are holding bitcoin that is why they don't want to support bitcoin.

[MRlong]

Due to blockchain technology it is not possible for any government to control the bitcoin trading. Governments are planning to accept it as legal with some guidelines and rules. On the same side some people are misusing bitcoin for their personal benefits which totally misuse of digital currency and technology both. Transaction are non reversible as compared to other physical currencies. Once the purpose and idea behind the bitcoin will be understood, it will get legal status. Very soon bitcoin will rise globally.

First of all, we need a clear legal framework for the development of cryptocurrency. Bitcoin represents the cryptocurrency system, of course it is often seen as the only cryptocurrency worth to be considered by investors and government. However, how long does it take for the government to complete the legal process for Bitcoin? Not everything is as easy and fast as the United States, Japan, Korea did.

[Jessica2009]

           We cannot say a clear cut answer why Bitcoin is not supported in some countries the reason may be government may be fearing of money laundering or else people may be misusing the currency for other illegal activities since Bitcoin is a digital decentralized currency and there is no third party interference in Bitcoin. It is totally free from Bank or any other governing bodies so the government fear the use of Bitcoin so it is not supported by the government in lower developed countries.

[Klintiv]

it's just that some countries do not benefit from bitcoin because they can not control it and therefore impose prohibitions and restrictions