Why bitcoin is not supported in some countries?

[Idrisu]

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 each country have their own policy maybe the government are concerned will many wiping the money or commonly known as money laundering. fair or not that's what we have to face because until now the existence of bitcoin is still not recognized.

many countries are Concern about bitcoin being used by the terrorists. The elites cannot control it like the rothchild said " give me the control and printing of countries money and I will not care who rule the country" the decentralize nature of bitcoin put the elites out of banking business and because of this they will not support it nor recommend it to the leaders of their countries who may be ignorant of how financial systems works

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[ekoice]

Actually, all countries see bitcoin as a challenge to their economy.They fear that illegal transactions would take place via bitcoins.They feel they would not be able to impose tax on bitcoin users.In Bangladesh, even imprisonment is given if people found using bitcoin.In contrast to this, a micro nation called Liberland has announced bitcoin as their national currency.Bitcoin cannot be banned completely.Banning bitcoin means banning internet and its highly impossible.

[Murat]

I think the reasons are very clear.

1. Government earn 0 tax from bitcoin.
2. Money laundering.
3. Scam.

Mostly because, People use bitcoin to hide their black money or move their money from one country to another country easily via bitcoin.

[diegz]

Actually, all countries see bitcoin as a challenge to their economy.They fear that illegal transactions would take place via bitcoins.They feel they would not be able to impose tax on bitcoin users.In Bangladesh, even imprisonment is given if people found using bitcoin.In contrast to this, a micro nation called Liberland has announced bitcoin as their national currency.Bitcoin cannot be banned completely.Banning bitcoin means banning internet and its highly impossible.

Fear in bitcoin to challenge the economy is not true. Why would it, actually the use of it in a country could help, even if it's not big, I am sure it can. But what I think too that makes bitcoin looks shady is the use of it by some in their illegal activities, which is I think unavoidable since bitcoin is not being regulated. Maybe we should be happy by now that it is not supported, atleast countries are not yet into banning bitcoin.  

[Sundark]

many countries are Concern about bitcoin being used by the terrorists. The elites cannot control it like the rothchild said " give me the control and printing of countries money and I will not care who rule the country" the decentralize nature of bitcoin put the elites out of banking business and because of this they will not support it nor recommend it to the leaders of their countries who may be ignorant of how financial systems works

This argument about bitcoin being a main financing method of terrorists organisation is so thin and totally unproven that it I am starting to get sick when I heard it.
Tell me how exactly government's agencies measured bitcoin impact on terrorism? Do we have some real and solid research? Until proven wrong I would believe that bitcoin=terrorists is a false flag operation.

[poetra2501]

At my country , bitcoin still not legalize as investment or currency so it make difficult for bitcoin to increase it's popularity on my country.
My goverment said that bitcoin can be use for terorism activity or money laundry which are against our law and still top priority for our enforcer to get rid of it

This is a task for us gave knowledge to our Government, so as not to misunderstand.
Because this Bitcoin is not a aims to terrorism activity or money laundering,
but rather as a digital currency in the ease of Online buying and selling, investments such as gold and other businesses.

[morgand]

At my country , bitcoin still not legalize as investment or currency so it make difficult for bitcoin to increase it's popularity on my country.
My goverment said that bitcoin can be use for terorism activity or money laundry which are against our law and still top priority for our enforcer to get rid of it

Well, I think it is a natural thing for the government, if we say that bitcoin is always used to be illegal, and are used for money laundering. mostly, a country that is not too familiar with bitcoin, say something like that. but, basically, they just do not know the potential of the bitcoin. because I am sure, when bitcoin became popular, they will re-create bitcoin be legal.

because government cant get some tax from bitcoin user, thats why bitcoin illegal in some countries, and yes its can used for terorism and money laudry too because bitcoin is annonymous. So it can be used for something underground business, or some scam project.

[Gembul]

because government cant get some tax from bitcoin user, thats why bitcoin illegal in some countries, and yes its can used for terorism and money laudry too because bitcoin is annonymous. So it can be used for something underground business, or some scam project.

I think the tax is not the cause bitcoin prohibited in some countries. And I think the reason is because bitcoin is a tool that makes it easy for criminals in the illegal activities. With this makes the country fear bitcoin could destabilize the country. Because without tax bitcoin will still provide benefits to the state if citizens have money. Thank you

[Gromozeka!]

because government cant get some tax from bitcoin user, thats why bitcoin illegal in some countries, and yes its can used for terorism and money laudry too because bitcoin is annonymous. So it can be used for something underground business, or some scam project.

I think the tax is not the cause bitcoin prohibited in some countries. And I think the reason is because bitcoin is a tool that makes it easy for criminals in the illegal activities. With this makes the country fear bitcoin could destabilize the country. Because without tax bitcoin will still provide benefits to the state if citizens have money. Thank you

Many countries still do not understand what they are doing and are at the stage of study, while others already on the legislative level, given the status of bitcoin and trying to come up with a system of taxation on income from activities related to bitcoin, now it is at an advanced stage because it is growing in popularity and more and more people it is used, state government can not stand by while past them funneling potential revenues to the budget.

[Superways]

some countries have regulations and policies respectively. while bitcoin is still seen to make the economic situation of a country into chaos. This is the reason a country still banning bitcoin today.

I do not think that they have banned bitcoin considering it as creating economics chaos in their country but they have banned it because they think that it is an anonymous currency and with bitcoin transaction they do not have any control on bitcoin so they do not want to have that currency in their country on which the government do not have control on it but want only their centralized currency.

[nelson4lov]

because government cant get some tax from bitcoin user, thats why bitcoin illegal in some countries, and yes its can used for terorism and money laudry too because bitcoin is annonymous. So it can be used for something underground business, or some scam project.

I think the tax is not the cause bitcoin prohibited in some countries. And I think the reason is because bitcoin is a tool that makes it easy for criminals in the illegal activities. With this makes the country fear bitcoin could destabilize the country. Because without tax bitcoin will still provide benefits to the state if citizens have money. Thank you

I agree with you too. Recently in my Country (Nigeria) Our Federal Govt made a move to stop the use of bitcoin by us, The citizens. This move was inspired by the fact that a lot of Ponzi schemes Owners and operators have found Bitcoin features such Easy and fast money transfer as an ideal tool to steal money. Bitcoin is feature-rich and very much ideal for every country's economy but It can also aid fraudsters. I believe That's another reason why Most countries decides against allowing the usage of  bitcoin.

[1Referee]

Recently in my Country (Nigeria) Our Federal Govt made a move to stop the use of bitcoin by us, The citizens. This move was inspired by the fact that a lot of Ponzi schemes Owners and operators have found Bitcoin features such Easy and fast money transfer as an ideal tool to steal money. Bitcoin is feature-rich and very much ideal for every country's economy but It can also aid fraudsters. I believe That's another reason why Most countries decides against allowing the usage of  bitcoin.

I wasn't aware of Nigeria having actually banned Bitcoin usage? As far as I have been hearing and reading, they published notes that are solely meant as warning to make people aware of the high risk that crypto currencies and connected projects carry with them. The warning came after MMM has stated that it would accept payments in form of Bitcoin. It's just an informative measure that is solely meant as making people aware of ponzis operating in Nigeria, where OneCoin is also one of. I can't find anything pointing towards the Nigerian government having banned the use of Bitcoin.

[nelson4lov]

Recently in my Country (Nigeria) Our Federal Govt made a move to stop the use of bitcoin by us, The citizens. This move was inspired by the fact that a lot of Ponzi schemes Owners and operators have found Bitcoin features such Easy and fast money transfer as an ideal tool to steal money. Bitcoin is feature-rich and very much ideal for every country's economy but It can also aid fraudsters. I believe That's another reason why Most countries decides against allowing the usage of  bitcoin.

I wasn't aware of Nigeria having actually banned Bitcoin usage? As far as I have been hearing and reading, they published notes that are solely meant as warning to make people aware of the high risk that crypto currencies and connected projects carry with them. The warning came after MMM has stated that it would accept payments in form of Bitcoin. It's just an informative measure that is solely meant as making people aware of ponzis operating in Nigeria, where OneCoin is also one of. I can't find anything pointing towards the Nigerian government having banned the use of Bitcoin.

Yeah, They made a move doesn't necessarily mean They have stopped it already. From my point of view, If Ponzi schemes continues to utilize Bitcoin for their fraud operations, FG will do more than just warning next time.

[marketone]

Still many countries don't have complete about bitcoin technology and even din't ban bitcoin in their country yet. Still they are in problem how to recognize bitcoin and how it is beneficial for them. Even they like the bitcoin technology but bitcoin is not complete depended currency.

[TastyChillySauce00]

Still many countries don't have complete about bitcoin technology and even din't ban bitcoin in their country yet. Still they are in problem how to recognize bitcoin and how it is beneficial for them. Even they like the bitcoin technology but bitcoin is not complete depended currency.

Honestly, they're not struggling on how to recognise bitcoin but they just don't interested to bitcoin due to low users in their country and they must've known how bitcoin is beneficial for them but as I've stated, too low users and probably too risky. Bitcoin technology is indeed such an innovative thing and interesting but bitcoin must've met the requirements above to attract the government.

[wh04m1]

There are some countries that do not know about Bitcoin. There is no reason to ban Bitcoin. Bitcoin mining, you do a certain job. You will spend electricity and time.

Over time, countries will make legal arrangements for bitcoins.

[n0ne]

Bitcoin for several reason is not supported in several countries, at the same more and more countries were into plans of regulating bitcoin. One thing good is that Russia proposing the bitcoin technology for the advancement in the financial administration. Likewise falling days we can expect more countries to follow bitcoin based upon developing nations.

[ged00u]

Still many countries don't have complete about bitcoin technology and even din't ban bitcoin in their country yet. Still they are in problem how to recognize bitcoin and how it is beneficial for them. Even they like the bitcoin technology but bitcoin is not complete depended currency.

Honestly, they're not struggling on how to recognise bitcoin but they just don't interested to bitcoin due to low users in their country and they must've known how bitcoin is beneficial for them but as I've stated, too low users and probably too risky. Bitcoin technology is indeed such an innovative thing and interesting but bitcoin must've met the requirements above to attract the government.

From my perspective, I don't assume that the government doesn't have any interest in bitcoin just because the number of its users is low, I think there are more reason behinds this. Some people say that bitcoin is up against banks which belong to the government and they just don't like that. I suppose that bitcoin does not literally bring any benefits for the government so it hasn't gained any attention.

[pearlmen]

The same way there are different levels of developments of countries so likewise the same way they cannot be the same in accepting bitcoin at the same time. Several infrastructures will need to be put in place and that infrastructures is not available in abundance to all countries in the same form. So its going to be a gradual process.

[sportis]

Recently in my Country (Nigeria) Our Federal Govt made a move to stop the use of bitcoin by us, The citizens. This move was inspired by the fact that a lot of Ponzi schemes Owners and operators have found Bitcoin features such Easy and fast money transfer as an ideal tool to steal money. Bitcoin is feature-rich and very much ideal for every country's economy but It can also aid fraudsters. I believe That's another reason why Most countries decides against allowing the usage of  bitcoin.

I wasn't aware of Nigeria having actually banned Bitcoin usage? As far as I have been hearing and reading, they published notes that are solely meant as warning to make people aware of the high risk that crypto currencies and connected projects carry with them. The warning came after MMM has stated that it would accept payments in form of Bitcoin. It's just an informative measure that is solely meant as making people aware of ponzis operating in Nigeria, where OneCoin is also one of. I can't find anything pointing towards the Nigerian government having banned the use of Bitcoin.

Yeah, They made a move doesn't necessarily mean They have stopped it already. From my point of view, If Ponzi schemes continues to utilize Bitcoin for their fraud operations, FG will do more than just warning next time.

Correct me if I am wrong but I believe that there is no effective way for a government to stop the bitcoin. I can understand if a government does not permit the use of ATM crypto machines or does not allow to exist an exchange in order anyone to buy/sell any crypto currencies or to make announcements against the bitcoin usage but if I want to use it to buy things from online stores or for trading and i will never convert it to fiat how can any government can really prevent me to hold bitcoins?