Why bitcoin is not supported in some countries?

[hdtqisg]

Bitcoin is operated by the members, not organizations or governments!

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[malekbaba]

Bitcoin is a currency, right ? Money laundering, terrorism, drug smuggling, weapon dealing etc are only confined in bitcoin ? No. Every currency is being used in legal and illegal activities. Any currency fiat or crypto, centralized or decentralized, go through almost same scenario. But it is not true that only a group of members control bitcoin. Bitcoin has no central authority. But the price can be controlled by whales. Do you guys think that the price of other fiats can not be manipulated ? You are wrong then. Bitcoin is far more secure

[Pettuh4]

I think most of them are afraid especially their respective central banks are afraid it will collapse their local fiat currency and render their economy in tatters. There are also growing concerns of the illegal use of bitcoins like paying for drugs through money laundering, pornography, and all other devices that goes contrary to the laws of the respective countries.

[diegz]

I think most of them are afraid especially their respective central banks are afraid it will collapse their local fiat currency and render their economy in tatters.

No, that's impossible that bitcoin would take down the economy of each country, in fact it could bring more money income to its citizens.

There are also growing concerns of the illegal use of bitcoins like paying for drugs through money laundering,

This is the reality. Probably the government will be looking at bitcoin as a tool for the criminals to make  it easy for them to move.

pornography, and all other devices that goes contrary to the laws of the respective countries.

I don't see pornography as a problem except if what the porn site is showing are those children being molested or shows like that.

[HarringtonStark]

Because they can't tax bitcoins that is why.

[marcoman22]

Bitcoin is a decentralised currency and it is not controlled by anyone.People use bitcoins for transactions even from one country to other and due to this, banks face a huge loss in revenue which they got from transaction fees.The governments also fear that huge money would be transacted through bitcoins for illegal purposes.PBOC recently took actions to stop flow of their country money to foreign which resulted in major fall of bitcoin price.Governments fear there will be no accountability of money if bitcoin is allowed.So, some countries dont support bitcoins.But still, they are not able to control bitcoins.

[audaciousbeing]

Countries have different ways in which they are being governed and they also have ways in which they make their laws at the same time how developed and ready to new way of life. It is no longer a fallacy that bitcoin is bringing new things to the way we see money and to some countries this is coming as a challenge to them whether to accept this new way of doing things or not. So, I guess until each and every country is now able to answer whether this technology will be at an advantage or not, then they will decide but it will definitely take time.

[webtricks]

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 don't think there is any country with such restriction!! Such laws like jail!!

But still most of the countries are not ok with the concept of Bitcoin, this is not a case with only governments but also with banks and general public. The main reason- Companies may invest in Bitcoin and may not show it in their Balance Sheet. I doubt there is any way they will be catch. So investing in Bitcoin is inversely related to NNP(fc) of a country. Moreover someone who bought Bitcoin in country may realize it to one belonging to other country which is movement of capital outside without any profits.

[MFahad]

I don't think that any country have fully banned the usage of bitcoins as if we check the traders on localbitcoins then we would find traders from almost all countries who are engaged in buying and selling bitcoins no doubt the use of bitcoins is not as per the expectations but that doesn't mean that countries are against bitcoins.

Bitcoin are supported in all countries. Only few countries try to Ban it officially but as you said, they cant ban it completely due to the presence  of localbitcoins and then online buying / spending available for everyone.

[PhucS]

My country is a country that does not accept Bitcoin is official currency. Maybe the government feared that Bitcoin will affect the economy in a negative direction, making the local currency may devalued and it will make difficult to control the market
Each country has its own laws but I hope there will be a positive change in the near future.

[poetra2501]

My country is a country that does not accept Bitcoin is official currency. Maybe the government feared that Bitcoin will affect the economy in a negative direction, making the local currency may devalued and it will make difficult to control the market
Each country has its own laws but I hope there will be a positive change in the near future.

The Government seems still not believing in the bitcoin as currency
especially to make it as the official currency. They still consider this
as an illegal business. For that reason I think bitcoin is not supported in some countries.

[Bitcotalk]

My country is a country that does not accept Bitcoin is official currency. Maybe the government feared that Bitcoin will affect the economy in a negative direction, making the local currency may devalued and it will make difficult to control the market
Each country has its own laws but I hope there will be a positive change in the near future.

There are almost all countries of the world which do not start or accept bitcoin as their official money currency but it is used worldwide by the citizens which are not banned in most countries but only a few who do fear from its use by the criminals of their state.

[coszy]

Almost all countries live off the taxes on the population and on production. If everyone will have free access to bitcoin, then the state will lose revenue as bitcoin gives the owner anonymity. This is probably the first reason for the ban.

[Zadicar]

Almost all countries live off the taxes on the population and on production. If everyone will have free access to bitcoin, then the state will lose revenue as bitcoin gives the owner anonymity. This is probably the first reason for the ban.

Indeed if the people of a certain nation would have awareness on bitcoin then taxation would really be affected and with that economic status will be on trouble to and the progress of that certain country would be lessen because of bitcoin thats why some countries do really ban it to avoid such thing.

[hajimasan]

Many country think that bitcoin is a source and center or gateway though which people could launder money and this would affect the economy of that country badly so because if this they might have banned bitcoin. Or could think that bitcoin would take control of countries currency because of its anonymity and simplicity

[Rishabh riyz]

My country is a country that does not accept Bitcoin is official currency. Maybe the government feared that Bitcoin will affect the economy in a negative direction, making the local currency may devalued and it will make difficult to control the market
Each country has its own laws but I hope there will be a positive change in the near future.

The Government seems still not believing in the bitcoin as currency
especially to make it as the official currency. They still consider this
as an illegal business. For that reason I think bitcoin is not supported in some countries.

yes I also think that government  seems still not believing in the bitcoin as a currency   
it has a decentralised nature so no single bank or organisation controls it
and why would any country make a crypto currency like bitcoin make an official currency hey are not that mad , we all know that the value of bitcoins keeps on fluctuating
one single decision by the countries government would make loss of millions and thereby profit for some
why would my country opt a crypto currency with fluctuating value
and the government won't have any control over it so what's the profit for them to make BTC official
 ya government can opt BTC   in future if the value remains constant   or would not fluctuate so much

[Theb]

My country is a country that does not accept Bitcoin is official currency. Maybe the government feared that Bitcoin will affect the economy in a negative direction, making the local currency may devalued and it will make difficult to control the market
Each country has its own laws but I hope there will be a positive change in the near future.

The Government seems still not believing in the bitcoin as currency
especially to make it as the official currency. They still consider this
as an illegal business. For that reason I think bitcoin is not supported in some countries.

yes I also think that government  seems still not believing in the bitcoin as a currency   
it has a decentralised nature so no single bank or organisation controls it
and why would any country make a crypto currency like bitcoin make an official currency hey are not that mad , we all know that the value of bitcoins keeps on fluctuating
one single decision by the countries government would make loss of millions and thereby profit for some
why would my country opt a crypto currency with fluctuating value
and the government won't have any control over it so what's the profit for them to make BTC official
 ya government can opt BTC   in future if the value remains constant   or would not fluctuate so much

It's not about the government not believing in Bitcoin, because we all know it virtually exist. What the government is worried about id that Bitcoin can really affect the economy of their country. It can promote money laundering because of untraceable transactions and unrealized gains, imagine if half of the population do this, than for sure that country will have a very low national budget

[Winter1986]

All dark deeds have their share of the banks and the Government, together with the banking system will greatly affect the progress in bitcoin mass. Therefore, the interests of users and countries do not coincide.

[lilit]

My country is a country that does not accept Bitcoin is official currency. Maybe the government feared that Bitcoin will affect the economy in a negative direction, making the local currency may devalued and it will make difficult to control the market
Each country has its own laws but I hope there will be a positive change in the near future.

The Government seems still not believing in the bitcoin as currency
especially to make it as the official currency. They still consider this
as an illegal business. For that reason I think bitcoin is not supported in some countries.

yes I also think that government  seems still not believing in the bitcoin as a currency   
it has a decentralised nature so no single bank or organisation controls it
and why would any country make a crypto currency like bitcoin make an official currency hey are not that mad , we all know that the value of bitcoins keeps on fluctuating
one single decision by the countries government would make loss of millions and thereby profit for some
why would my country opt a crypto currency with fluctuating value
and the government won't have any control over it so what's the profit for them to make BTC official
 ya government can opt BTC   in future if the value remains constant   or would not fluctuate so much

It's not about the government not believing in Bitcoin, because we all know it virtually exist. What the government is worried about id that Bitcoin can really affect the economy of their country. It can promote money laundering because of untraceable transactions and unrealized gains, imagine if half of the population do this, than for sure that country will have a very low national budget

I'm a little bit surprised that in countries where a very high level of corruption officials try to do everything not to allow people to use bitcoin. After all, it would be in their best interest. The truth is not a good influence on the bitcoin.

[wutard]

In my country's national bank has already successfully tested the technology Blockchain and I think that this is not just. After officially bitcoin does not work and it could badly affect users. This is my opinion.