Why bitcoin is not supported in some countries?

[zhelis74]

Crypto currency is a very revolutionary new kind of financial settlements, which is perceived by many states if not hostile, then with disbelief. For the state, crypto currency is very inconvenient in the sense that it can not be controlled. It is capable, without any accounting and control, of withdrawing any funds from the territory of any state, and this is highly displeasing to the states. In addition, any profit from financial transactions in any state is subject to taxation, and transactions in the use of crypto currency are very difficult to take into account and tax. Even these two moments are for any government a very big obstacle in the use of crypto currency.

Well, that is because bitcoin is a decentralized system, so no other person can control over it and its just between you and your peers. Therefore that is one of the reason why government doesn't adopt bitcoin because they can't gain control on bitcoin and in the first place they think bitcoin is prone to criminality because its transaction is always been anonymous.

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[eert]

It is not supported by other countries because other countries use it in illegal activities such as money laundering and illegal drugs. Another reason is that it is decentralized, which means that they cannot control it.

[jiop111]

I think the problem of decentralization can be dealt with and may not be acceptable, but to understand that it is not a statutory fact, we need to understand this, it is not a legal currency, and there is a huge difference between statutes and decrees. . In addition, because each currency is used for illegal activities, the accusation against BTC is not fair. Governments should treat Bitcoin correctly instead of opposing it

[dvillier]

Different nations communicates that they won't bolster bitcoin. Notwithstanding, individuals living in that specific nation has done bitcoin speculation. Some of them put stock in bitcoin in light of the fact that they have involvement and ready to see how bitcoin functions and how they can gain through it. It is only a nation warning to their constituents yet at the same time the flexibility to put resources into bitcoin isn't being denied. In any case we could do online exchanges these days and we could likewise purchase bitcoin from opposite side of the world. Same as with offering bitcoin around the sides of the world should be possible through on the web. What's more, in the event that you are geek about the online exchanges at that point putting resources into bitcoin with the nations forbidden on doing it isn't an obstacle to contribute bitcoin.

[Mariadelan25]

think the security factor is the right reason. The security of bitcoin is considered not good by some governments, it is because potentially used for illegal activities Like example money laundering, etc. and is considered at times can be hacked. No controls make the government doubt the security of bitcoin. Bitcoin will indeed disrupt economic.

[ilonamihaly]

Even fiat who are centralized we can see it is being used for illegal activities also, if you compared it with bitcoin it is still fiat that is widely use for illegal activities. The money laundering was created to combat this kind of activity and it was imposed with banks to monitor cash it and cash out that are not justifiable or questionable, so that fact alone would prove that fiat are more used in illegal activities.

[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

I see that bitcoin is not supported in sone countries because every country has a laws that need to follow. I think the bitcoin is illegal on their country. Or in other way they not supported it because they are not really knowledgeable what are the benefits that tgey cab in bitcoin. But we need to respect them and obey there rules for sake of our safety.

[anahawjeff21]

Maybe because its really hard to monitor the bitcoin, and some people use it in illegal transactions like buying drugs and unlicensed firearms, and for security reasons, nowadays, there are many hackers, they afraid to that, and the value of bitcoin, they know that its not stable yet.

[tradnoshater]

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[IMMBAGGA]

Bitcoin is not valid and not supported by many governments in their countries.  It is because transactions are anonymous and they fear money laundering.  Also anti national terror funding is also reason for fear.

[Latviand]

Maybe because its really hard to monitor the bitcoin, and some people use it in illegal transactions like buying drugs and unlicensed firearms, and for security reasons, nowadays, there are many hackers, they afraid to that, and the value of bitcoin, they know that its not stable yet.

I think its because of the government of the country. Because government cant control the bitcoin, and because of that they're scared that bitcoin might be greater than the bank in the future. They dont supported bitcoin because bitcoin is volatile, its hard to know what will be the price of bitcoin, bitcoin can be use in any transaction without third party, means no bank, no fee deducted for the services, bitcoin can use to buy illegal drugs and anything illegal, anonymously. They only see the bad about bitcoin, thats why they dont support bitcoin.

[Hotel_Prodeo]

Bitcoin will be hard to accept in countries with traditional and economically controlled systems, they are afraid of change, but in countries that adopt modern systems like Japan and USA it is never afraid of bitcoin development.

[s31joemhar]

Maybe the reason why some countries doesn't support bitcoin is because they always look for the disadvantages in using of bitcoin.
They don't look for the possible benefits that they may get. I think being volatile of bitcoin is the most thing that they hate.

[oloveloveo]

As theres a lot of advantages we can gain from using bitcoin for our daily lives,
some people do it in a wrong way. Some people uses bitcoin to do criminal activities which is against the law.
Also the government wants to get something from it but as it is stands, government cant collect tax from it.
Also if bitcoin is the replacement for flat currency, then the country cant produced money because it is not needed.

[pedrasantos]

I think you have confused, bitcoin is completely free in most countries, it is restricted to only certain countries, and those countries are restricted to the internet. In addition, in every other country, specifically my own country, bitcoin is completely free without affecting anything to the government. I am interested in this, even though my country is very backward.

[will777]

any kind of country would not Absorb bitcoin because of it's system and they can not have their hands in controlling it, that is why there are countries that are forbidding bitcoin from being use by their people but there are some countries that have many merchants that keep on accepting bitcoin

[fanita]

probably who did not receive bitcoin in their country because they were afraid their citizens would switch to bitcoin and would raise taxes and at that time the government would have a huge problem because most people already have control over their money unlike the bank governed by the government, that is what will happen if the country receives bitcoin.

[15putriutami]

Many economists believe that money can be transmitted through Bitcoin Very easily.They think that because of the identity hide of the person here, it is easier to crime.This cause bitcoin is not supported in some countries.

[Nelly.G0211]

Many economists believe that money can be transmitted through Bitcoin Very easily.They think that because of the identity hide of the person here, it is easier to crime.This cause bitcoin is not supported in some countries.

absolutely agree, in addition i'd say that they might be afraid for the impact that crypto could cause on the economy of the countries. today i have read that Taobao banned selling goods or services somehow connected with blockchain technology.. however i'm sure it won't influence the crypto situation.

[gadimbrut]

bitcoin is not supported in some countries, perhaps countries that do not support bitcoin may think of bitcoin as a threat to the country's economy, the country's currency could lose competition with bitcoin, so the country does not legalize bitcoin