Why bitcoin is not supported in some countries?

[lighpulsar07]

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

Because Bitcoin is not centralized so they cannot control bitcoin at all and also because pf anonymity bitcoin can be used to a crime like buying drugs because we don't know who belongs that wallet address used in transaction regarding in crime related activity.  think it's in the government discretion to ban bitcoin their country or not.

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[Capradina]

Many countries are still cautious to include bitcoins to their financial system. Bitcoin is a digital currency that is easy to experience the price movement in an extream. This is the risk that the government wants to avoid.

What's been mentioned is one of the factor and another major factor is the misunderstanding. They need to realize that it's an revolutionary technology named as blockchain based on the function and bitcoin is the one that has grown successful based on the technology. Need to understand that it's not just a currency it to has got varied usage in various forms starting from finance to production.

It is indeed quite difficult to explain progress or revolution of a technology. Because most of the people in the world has a mindset that is quite difficult to understand something. So if they don't have the will to go forward it will be hard to explain or understand new technologies and such usually will not understand when the product (bitcoin) already recognized (legal) by the Government or the many artists he admired use it
 

[Kotone]

maybe because as currency bitcoin has no tax or it could be because the bitcoin system Anonym ( no identity ) or prices of bitcoin only affected by supply and demand and as not to give advantage to the country

Bitcoin has no tax this is true but every transaction we made there always fee depends on the amount , they can use bitcoin into illegal also by paying or buying drugs through internet . Also government known that bitcoin is scam that will fool people.

[Obito]

I think bitcoin is not supported because every country have their own rules and regulations. And yet, they think that bitcoin is being simultaneously running by criminals or may some bitcoin users use it in a wrong way. Furthermore bitcoin is not controlled by government so that they banned it.

[Daniel91]

It's not to complicate to answer this question.
Every year, tax laws are more and more strict in every country.
If I wants to open bank account, they will ask me many questions, KYC form as you know.
America even pushed Switzerland very hard, and they had no choice but to break their basic bank rule, bank secret.
In this way, America could find all American citizens, clients in Swiss bank,Who have tried to avoid paying taxes.
It's very big and important issue today.
So, instead of Swiss banks, people now have bitcoin.
They can earn money, legally or illegally, and hide it in the bitcoin wallet.
In such way, they will avoid paying taxes.
There is no way to control bitcoin, and governments don't like it.
Criminals using bitcoin is other issue but I think that main issue is how to control people financially.
Bitcoin is our tool to avoid government control and they don't like it at all.

[ilovefeetsmell]

Bitcoin is not supported in some countries because they will not get benefits from it. They will think it's illegal and not true. They wouldn't believe it. They will not introduce to somebody about the capacity of one bitcoin. How it works, what is the value of this, where do we find it? If they know how to do with bitcoin, they will get more or earn more.

[erickkyut]

Bitcoin is not supported in some countries because they will not get benefits from it. They will think it's illegal and not true. They wouldn't believe it. They will not introduce to somebody about the capacity of one bitcoin. How it works, what is the value of this, where do we find it? If they know how to do with bitcoin, they will get more or earn more.

I agree with this. Bitcoin is not supported in some countries and even banned it because it is decentralized. The government has no control over it. They can't get any from it and cannot put taxes on each transactions. But they cannot stop it from being popular over the world, I think in the near future, they will have no choice but to accept it.

[paul gatt]

I think bitcoin is not supported because every country have their own rules and regulations. And yet, they think that bitcoin is being simultaneously running by criminals or may some bitcoin users use it in a wrong way. Furthermore bitcoin is not controlled by government so that they banned it.

The government is not really banned bitcoin, only a few countries banned it, but that's just the present, it will definitely end in the future. In most countries, bitcoin is free, in other words, it is outlawed. It really makes a lot of money for its users, so it's getting a lot of popularity.

[coinchaser007]

We can't just think like that everytime, many banks and governemts accepted bitcoin even with the fact that they can't control the digital currency.

I definitely wouldn't say many. Most just let it go on for now.  Who knows what will happen in the future. They can regulate it within their borders if they really want. Banks would only "accept" bitcoin if they can make money off it (with the help of government regulation).

[NEWGOODOUBLE]

Is internet not supported in any country excluding North Korea?

What do you mean the county which bitcoin is not supported. If you have internet connection, you have bitcoin. You don't need an permission.

By this question, I think he meant that the government doesn't accept bitcoin like a currency by using it in paying bills and shopping in real shop and restaurants etc..
So, Recently i hear that japan allow using bitcoin. I think this is a good idea for them.
Anyways, everyone can use bitcoin and control it as he want. converting it in fiat or use it as a degital currency, There is no problems.

So you better ask the question as "What are the countries allow bitcoin?"

Although it is not a legalization of the Japanese government. But at least. It's a positive signal .. government allowance means you're free to use bitcoin and not banned #imo

[Distinctin]

Is internet not supported in any country excluding North Korea?

What do you mean the county which bitcoin is not supported. If you have internet connection, you have bitcoin. You don't need an permission.

By this question, I think he meant that the government doesn't accept bitcoin like a currency by using it in paying bills and shopping in real shop and restaurants etc..
So, Recently i hear that japan allow using bitcoin. I think this is a good idea for them.
Anyways, everyone can use bitcoin and control it as he want. converting it in fiat or use it as a degital currency, There is no problems.

So you better ask the question as "What are the countries allow bitcoin?"

Although it is not a legalization of the Japanese government. But at least. It's a positive signal .. government allowance means you're free to use bitcoin and not banned #imo

When a country has no objection about bitcoin, that would mean it is legal although not written in papers yet.
It's not legal or illegal but when the usage will grow they will make a proper guidelines because they also want to collect taxes.

[MWesterweele]

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

That's really weird especially the jail part, the countries I knew allows Bitcoin use, though it's not legal but there are no such restrictions. But then again each country has its own policy and rules. Maybe the citizens have been grossly missing it or the country has not understood it at all. However I feel. Really sad for this users. Hope the country changes it law.

yes there are no such law that saying that a man that are using bitcoin will be under punished, therefore we are free to earn bitcoin and use it, We are allow to use it if the site that our using is not restricted in our country.

[batang_bitcoin]

Bitcoin is not supported in some countries because they will not get benefits from it. They will think it's illegal and not true. They wouldn't believe it. They will not introduce to somebody about the capacity of one bitcoin. How it works, what is the value of this, where do we find it? If they know how to do with bitcoin, they will get more or earn more.

Yes that's the close reason why those countries that doesn't want to adopt bitcoin. They are scared that their country will be penetrated by illegal bitcoin activities but they are not realizing that there are activities that are being done illegally even though there's no bitcoin involved on it. They don't want to realize and acknowledge bitcoin that is good for the economy.

[Antoshka]

Because they are afraid to take risks, they think that the bubble can burst at any moment. And the state wants to control all financial operations.

[stompix]

Because they are afraid to take risks, they think that the bubble can burst at any moment. And the state wants to control all financial operations.

And what would prevent a government from stopping the bubble burst?
Current market cap is $19,897,934,160 .

Assuming everybody would want to get out that is the price needed to keep the bubble from bursting.
Considering lost coins, satoshi's coins and bitcoins hardcore fans the so called government would have to spend less that 10 billions to prop it up.

That's lover that 10% of the GDP of Morroco.

[Janation]

Because they are afraid to take risks, they think that the bubble can burst at any moment. And the state wants to control all financial operations.

They are not afraid to take risks, bitcoin helps a country economy, and I don't think it's price matter at all. Bitcoin is a decentralized digital currency so they can't control the bitcoin transactions. There are many reasons that the government are not accepting bitcoin, but I know time will come and they will be changing their minds when they see how bitcoin helped other country.

[dothebeats]

I think that the government is not really afraid of bitcoin, what they are afraid of is people waking up from the ugly truth hat they are just mere slaves of fiat for over 300 years now and they would lose a lot of control to the people of their jurisdictions. If they started to use bitcoin regularly over fiat, that means they are slowlh losing grip of their people for their own personal gains, which they absolutely don't want to happen.

[TravelMug]

Because they are afraid to take risks, they think that the bubble can burst at any moment. And the state wants to control all financial operations.

They are not afraid to take risks, bitcoin helps a country economy, and I don't think it's price matter at all. Bitcoin is a decentralized digital currency so they can't control the bitcoin transactions. There are many reasons that the government are not accepting bitcoin, but I know time will come and they will be changing their minds when they see how bitcoin helped other country.

Yes. Government is afraid of bitcoin for being decentralized. So they can't control it. That's why some government has put a strict regulations, while other doesn't want it in totally, while other like Japan see it as the future of technology that's why they make it legal. But I know that maybe in just a few years we will see that some big government globally will accept bitcoin as alternative to the common fiat.

[Drago2016]

Because they are afraid to take risks, they think that the bubble can burst at any moment. And the state wants to control all financial operations.

They are not afraid to take risks, bitcoin helps a country economy, and I don't think it's price matter at all. Bitcoin is a decentralized digital currency so they can't control the bitcoin transactions. There are many reasons that the government are not accepting bitcoin, but I know time will come and they will be changing their minds when they see how bitcoin helped other country.

Yes. Government is afraid of bitcoin for being decentralized. So they can't control it. That's why some government has put a strict regulations, while other doesn't want it in totally, while other like Japan see it as the future of technology that's why they make it legal. But I know that maybe in just a few years we will see that some big government globally will accept bitcoin as alternative to the common fiat.

Perhaps in the future, and take bitcoin if it does not fail, but it will be an additional currency.

[deisik]

I think that the government is not really afraid of bitcoin, what they are afraid of is people waking up from the ugly truth hat they are just mere slaves of fiat for over 300 years now and they would lose a lot of control to the people of their jurisdictions. If they started to use bitcoin regularly over fiat, that means they are slowlh losing grip of their people for their own personal gains, which they absolutely don't want to happen

People have been enslaved for the entire duration of human civilization

So it is not just for the last 300 years. Or do you really think that before fiat generic humans enjoyed more freedom than now (or when fiat was first introduced)? Slavery is deep inside human nature as social (read herd) beings. Bitcoin can't and won't change anything in this regard. It may be useful only to those who don't want to be or remain slaves, but the rest of humanity will just go on as they have been for centuries silently giving the choice as well as responsibility to someone else. For all authority comes from God, and the powers that be are ordained of God