Why bitcoin is not supported in some countries?

[Mr. Big]

some countries can't support bitcoin because bitcoin is only digital money which is can't used by all peoples on that country and bitcoin is not accordance with the regulations of that countries law, some countries need physical money which is can used by all peoples and accordance with the law

Fixed!... Actually bitcoin is not giving any problem in a country where it is being used and some bitcoin miners where situated, it could even employ some people who do not have a job so I think it's not a burden to a country, except if its people is exchanging bitcoin to other currency and not using it in their country... Its being digital and no physical form is not a hindrance I think...  

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[Blitzboy]

some countries can't support bitcoin because bitcoin is only digital money which is can't used by all peoples on that country and bitcoin is not accordance with the regulations of that countries law, some countries need physical money which is can used by all peoples and accordance with the law

I also think that's the reason too. Just because bitcoin is cryptocurrency and it's decentralised so it can't be controlled by the government and they don't like to regulate something that is uncontrollable. And bitcoin doesn't bring them anything so bitcoin doesn't catch the eyes of most governments.

[deisik]

some countries can't support bitcoin because bitcoin is only digital money which is can't used by all peoples on that country and bitcoin is not accordance with the regulations of that countries law, some countries need physical money which is can used by all peoples and accordance with the law

Fixed!... Actually bitcoin is not giving any problem in a country where it is being used and some bitcoin miners where situated, it could even employ some people who do not have a job so I think it's not a burden to a country, except if its people is exchanging bitcoin to other currency and not using it in their country... Its being digital and no physical form is not a hindrance I think...  

It is not a problem because only a minuscule number of people are using Bitcoin

And how are they really using it? Mostly for trading, gambling and "investing". There is nothing in this for governments to be afraid of. As long as Bitcoin is not used in real economy in any sizable amounts  (i.e. it doesn't compete with local currency), authorities won't have any particular problems with it. Indeed, they might scare people off by claiming that Bitcoin is being used for various nefarious activities, but did pickpockets ever threaten the stability of any government?

[Qunenin]

As I've said before that the country should be able to control the full finance used inhabitants, bitcoin is common. Everyone can use the bitcoin so that countries consider bitcoin is unlikely to use legally by the State.

Exactly, this is I guess the reason behind why some countries do not support bitcoin, that the government itself cannot easily control the money of each user of bitcoin, they cannot easily manage things that is virtual.

[e-coinomist]

The government here is really strong to prevent freedom for people.

In a statement the Central Bank of Bangladesh cited concerns over bitcoin's lack of “a central payment system” which could lead to people being “financially harmed”.

We know that is not the real reason. It may cause the low tax that will be paid for the corrupt officials that is taking it for their own wallets. They are good in hiding it if they could prevent it. I think they also have the controlled media just like other countries.

Exactly that it is the first decentral payment system ever invented. At least in the digital sphere, since picking up shells at some beach using those as a means of an article of exchange has been decentralized too. The earliest currencies had been decentralized from their invention onwards! It's the natural order of those things.

So many attempts to squeeze the Djinn back into the bottle.

[paul gatt]

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

as I understand it, Bitcoin is virtual currency what have economic strength terrible
it has a big impact on the economy of a country
Therefore, in some countries, they managed Bitcoin, or they ban Bitcoin
First, though, there are some free places on exchange trading, which was wonderful

[meemiinii]

Govt. only need taxes whether its fiat or bitcoins

yes you are right. whats important in every country is for a certain government to earn taxes. bitcoins are not supported because it cannot be controlled by the authorities unless regulation takes place.

well in some countries that bitcoin is supported, dont you think that governments who supports bitcoin will just support without any benefits for them to take? of course they wouldnt. some support bitcoin because they can gain taxes on an exchanger or rather these governments earn bitcoins as well through mining or trading.

[naidray]

Other countries doesn't support bitcoin because government is strict about taxes, but in my country its been permited because it helped a lot of people who seeks opportunity of money using digital currency income. The online wallet in my country is been taxed by the government, thats why its been allowed to used by people and legal to everyone who has freedom.

You are lucky your government is supporting bitcoin transaction. Which country do you belong to?  In my country, we don't know our government is thinking about bitcoin or not. Becasue we will not see any news regarding this bitcoin in my country. But some exchange companies are making money by using this our govt negligence. I don't know when our govt will think about this bitcoin and accept it as legal currency.

Supporting bitcoin transaction means that your country have accepted bitcoin as legal currency, but I think I never heard such kind of news before, I think most of the governments are neutral about bitcoin they have not yet given any statement about bitcoin, but hope very soon states will consider bitcoin as legal currency.

[Gromozeka!]

Govt. only need taxes whether its fiat or bitcoins

yes you are right. whats important in every country is for a certain government to earn taxes. bitcoins are not supported because it cannot be controlled by the authorities unless regulation takes place.

well in some countries that bitcoin is supported, dont you think that governments who supports bitcoin will just support without any benefits for them to take? of course they wouldnt. some support bitcoin because they can gain taxes on an exchanger or rather these governments earn bitcoins as well through mining or trading.

The fact that many countries do not support Bitcoin is only a matter of time. Now, we hear more and more governments are trying to find the right mechanism for regulation and the first thing they think about themselves, understand that it is possible to replenish the budget, and the process is more and more countries do not prohibit, and developing a system of regulation.

[Vaskiy]

Govt. only need taxes whether its fiat or bitcoins

yes you are right. whats important in every country is for a certain government to earn taxes. bitcoins are not supported because it cannot be controlled by the authorities unless regulation takes place.

well in some countries that bitcoin is supported, dont you think that governments who supports bitcoin will just support without any benefits for them to take? of course they wouldnt. some support bitcoin because they can gain taxes on an exchanger or rather these governments earn bitcoins as well through mining or trading.

The fact that many countries do not support Bitcoin is only a matter of time. Now, we hear more and more governments are trying to find the right mechanism for regulation and the first thing they think about themselves, understand that it is possible to replenish the budget, and the process is more and more countries do not prohibit, and developing a system of regulation.

Countries fear of economic fall, now started to understand the truth behind it and have been progressing towards adoption. Even in such situation countries haven't have big plans of regulating bitcoin but they tend to create and regulate their own digital currency.

[Monnt]

In my country it is not acknowledged which is the perfect grey area for bitcoin. Government is not saying bitcoin is illegal, government is not saying its legal. Government doesn’t care about bitcoin right now.

That is amazing for bitcoin. If the government says bitcoin is illegal than there would be some more hassle to use, we could still use but won’t be as easy. If they say its legal than they will put up some reasons and hows and so on that we will have to follow. Government not saying anything about bitcoin is the best thing that can happen for it.

[mkmdoc]

Govt. only need taxes whether its fiat or bitcoins

yes you are right. whats important in every country is for a certain government to earn taxes. bitcoins are not supported because it cannot be controlled by the authorities unless regulation takes place.

well in some countries that bitcoin is supported, dont you think that governments who supports bitcoin will just support without any benefits for them to take? of course they wouldnt. some support bitcoin because they can gain taxes on an exchanger or rather these governments earn bitcoins as well through mining or trading.

The fact that many countries do not support Bitcoin is only a matter of time. Now, we hear more and more governments are trying to find the right mechanism for regulation and the first thing they think about themselves, understand that it is possible to replenish the budget, and the process is more and more countries do not prohibit, and developing a system of regulation.

Even though economic situation is good many governments are not showing any interest towards, but many companies are completely accepting block chain technology. The only draw back that bitcoin has it completely depend on market, if the value of bitcoin price decreases than economic situation of that country will be worst. I hope government will accept bitcoin as on of the commodity like gold.

[t2yax]

I think that, in other countries are that are not supported, is that the country banned them?, or they are not recognized by their central bank. Maybe the local governments are not aware with it, so bitcoins are not supported with them. It could lead to some countries who are not being aware or updated to new technology will be late for their new innovations of other countries.

[diegz]

I think that, in other countries are that are not supported, is that the country banned them?, or they are not recognized by their central bank. Maybe the local governments are not aware with it, so bitcoins are not supported with them.

Even if the government knows the existence of bitcoin, why would it support it? they will not get anything from it. Bitcoin is not meant to be for the government, that is why it is decentralized.

It could lead to some countries who are not being aware or updated to new technology will be late for their new innovations of other countries.

Countries has their own way to know technology, and much faster. But they have other things to prioritize in their economy than to upgrade their money system.

[bitllionaire]

I think that, in other countries are that are not supported, is that the country banned them?, or they are not recognized by their central bank. Maybe the local governments are not aware with it, so bitcoins are not supported with them.

Even if the government knows the existence of bitcoin, why would it support it? they will not get anything from it. Bitcoin is not meant to be for the government, that is why it is decentralized.

It could lead to some countries who are not being aware or updated to new technology will be late for their new innovations of other countries.

Countries has their own way to know technology, and much faster. But they have other things to prioritize in their economy than to upgrade their money system.

i think that currency of a country play an important role in developing the economy of a country, if a country has a strong currency it will effect theri economy. to me the governments must understand the importance of digital currency in modern time. the new generation are moving toward online business therefore they need a currency that could be  us as online we can say that bitcoin can fulfill their needs.

[noictib]

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

In my opinion , It was and is the bad option Tp ban the bitcoin in some countries . Through bitcoin many people are making money just for doing honest job without illegal work and also providing a number of jobs in their bitcoin services but still some countries banned bitcoin .
But I think the reason of ban the bitcoin is somewhat right because those countries who made banned the bitcoin are thinking that people are not paying tax for bitcoin  and due to these the country's growth may be goes to down but I think they should also think the people are growing their income and making living with bitcoin is also a part of country growth .

[Mr. Big]

i think that currency of a country play an important role in developing the economy of a country, if a country has a strong currency it will effect theri economy. to me the governments must understand the importance of digital currency in modern time. the new generation are moving toward online business therefore they need a currency that could be  us as online we can say that bitcoin can fulfill their needs.

The government wants the safety of its income and taxes, now, if everyone goes online and do their business here, what will be left for the government to be taxed? How will the economy of a nation will go if the tax being collected is not enough? How will the infrastructures go? We all know that we need only internet in online business, but that is not the only thing we need in a country... 

Bitcoin is uncontrolled, therefore government can't just monitor which one is taxable and which one is not... Many can just hide their bitcoin away from them so it is not taxed... That is why it will never be supported by the government by now, not until they found way to control it... 

[abel1337]

i think that currency of a country play an important role in developing the economy of a country, if a country has a strong currency it will effect theri economy. to me the governments must understand the importance of digital currency in modern time. the new generation are moving toward online business therefore they need a currency that could be  us as online we can say that bitcoin can fulfill their needs.

The government wants the safety of its income and taxes, now, if everyone goes online and do their business here, what will be left for the government to be taxed? How will the economy of a nation will go if the tax being collected is not enough? How will the infrastructures go? We all know that we need only internet in online business, but that is not the only thing we need in a country... 

Bitcoin is uncontrolled, therefore government can't just monitor which one is taxable and which one is not... Many can just hide their bitcoin away from them so it is not taxed... That is why it will never be supported by the government by now, not until they found way to control it... 

I agree , This might cause the banning of bitcoin in every country , The government will realize that they cant earn money in bitcoin but If they legalize the usage of bitcoin in their country and they put a tax on every transaction it might be better because bitcoin wont be ban on countries, But in return the bitcoin wont be anonymously sent on each transaction that has been monitored.

[meemiinii]

Govt. only need taxes whether its fiat or bitcoins

yes you are right. whats important in every country is for a certain government to earn taxes. bitcoins are not supported because it cannot be controlled by the authorities unless regulation takes place.

well in some countries that bitcoin is supported, dont you think that governments who supports bitcoin will just support without any benefits for them to take? of course they wouldnt. some support bitcoin because they can gain taxes on an exchanger or rather these governments earn bitcoins as well through mining or trading.

The fact that many countries do not support Bitcoin is only a matter of time. Now, we hear more and more governments are trying to find the right mechanism for regulation and the first thing they think about themselves, understand that it is possible to replenish the budget, and the process is more and more countries do not prohibit, and developing a system of regulation.

absolutely right. i dont even wonder if ten years or so from now, the number of countries who adopt and regulates bitcoin will then increase in number. as you said, its just a matter of time. time for them to learn more about bitcoin and cryptocurrency, time for them to develop a certain system to regulate bitcoins that will have a huge and positive impact for their country.

[Oralmat]

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 know that many countries not supported the bitcoin. But i never heard to anyone that some countries declare ban and 6 months jail if they people use bitcoin.
Even i never read in anywhere, i am surprised to know about it, i am sure it is not true. Because in my country, my government not accept bitcoin, but still people use it and pay bills and earn from it, but only online.