Why bitcoin is not supported in some countries?

[stompix]

There are many reasons why some countries in the world still do not agree to use bitcoin as a legal digital currency, such as in my country:
1. The government cannot impose taxes and will not be able to manage the currency, making it difficult to develop their country's infrastructure.
2. It can be as easy as money laundering, illegal trade, ex: UG, drug trafficking, weapons and very hard to detect the address of the crime.
3. The exchange is difficult when the exchange rate fluctuates, there may be loss of money between the two parties, causing many cases of scam ...
These are just a few of my ideas, but above all it is a tax problem and cannot handle Bitcoin . Currently, my country does not support bitcoin, but still does not forbid people to use bitcoin in the exchange. Not have rule

1. Oh but in can impose taxes, just like now when we use fiat money. No difference between the two. You sell something you issue a receipt. Simple.
2. Since the blockchain is public is actually pretty hard to commit money laundering at a large scale.
3. It doesn't concern the government in what you;re investing your money.

[1714807497]

1714807497

[E-shipper]

There are many reasons why some countries in the world still do not agree to use bitcoin as a legal digital currency, such as in my country:
1. The government cannot impose taxes and will not be able to manage the currency, making it difficult to develop their country's infrastructure.
2. It can be as easy as money laundering, illegal trade, ex: UG, drug trafficking, weapons and very hard to detect the address of the crime.
3. The exchange is difficult when the exchange rate fluctuates, there may be loss of money between the two parties, causing many cases of scam ...
These are just a few of my ideas, but above all it is a tax problem and cannot handle Bitcoin . Currently, my country does not support bitcoin, but still does not forbid people to use bitcoin in the exchange. Not have rule

1. Oh but in can impose taxes, just like now when we use fiat money. No difference between the two. You sell something you issue a receipt. Simple.
2. Since the blockchain is public is actually pretty hard to commit money laundering at a large scale.
3. It doesn't concern the government in what you;re investing your money.

And you are really Bitcoin. In some cases, criminals are used to illegally trade in illicit drugs and weapons and other things that are prohibited around the world. You wanted not only because of this in Bitcoin is not available in other countries. I agree that in the first place authorities forbid Bitcoin because of non-payment of taxes by users.

[Format.C^]

Its because of government that bitcoin is not supported in some countries as governments are really afraid that if bitcoin becomes the main currency then they will loose control on money which will end up all their corrupted activities.

[batang_bitcoin]

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 decentralise and bitcoin can be a tool in doing illegal activities. and there are still so many fators why they do not recognize bitcoin. i just point some of it.

This discussion about bitcoin being used in illegal activities will never end. And it's very unfair to say that with bitcoin because even our fiat money or local currency are being used to fund for different illegal transactions. I had to agree with the decentralization and it is the one that what the creator/s of bitcoin want to implement.

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.

That's why I said it will never end. But those countries that are seeing bitcoin to be close in the usage for the illegal activities is a fact and they don't want it to expose to their citizens. We know that this is the number one currency through the black markets/deep web and they are only basing it through there, not knowing that it can be used for good.

[loges]

Bitcoin holds negative image in the minds of people and they think that bitcoins is used by criminals and it is used for illegal activities and that is the reason its not getting support from the people and government.

[hardtime]

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

probabaly because bitcoin cannot be controlled by the government. sometimes we find government take profit too. so it is possible if they think they cannot control bitcoin in order to get profit, so they banned it. IMO

besides, bitcoin can be used by criminals and delete their tracks. so they cannot be arrested.

This doesn't really seem to be the factor behind all of this, but I'll agree with you on the motion that the government doesn't have control over the currency so they don't want it to be used, as they do want to control all the uses of one currency inside of their country. They also want to ensure they're getting all the tax money they can out of people and without the control of their currency, USD for instance, then it's going to be negative for them.

The whole narrative about criminals and Bitcoin does bother me as I highly doubt a junkie would go through all this trouble when they can buy drugs from some guy on the side of the road without any sort of issue of getting caught because they're using the internet that is heavily monitored by the FBI. I don't care what you say about all the protections you have against the police, you're going to be caught somehow if you buy online.

[Zenithar]

Not the thing of being risky its the thing that unders leglity issues that stopping other country to use bitcoin and totally banned and whipe it out of their country.Some thinks that this may lead to huge terrorism due to anonymous transactions

Most of this case is either lack of knowledge about bitcoin or paranoia.  We all know any thing can be used to support terrorist, even a minerals can be used to support it, so they should not blame Bitcoin and not support it due to the reason that it can be used to support terrorist activities, if that so then why not ban fiat money  since they too are being used to support this activity of terrorism.

Bitcoin is still relatively unknown in most parts of the world. Even in urban areas, you wouldn't really hear much news about it, much more on far flung areas where internet connectivity is an issue. There was a time when only bad news about bitcoin would be broadcast by mainstream media so the stigma is there. But things are definitely improving with more people getting interested with bitcoin because of the recent performance.

but i think bitcoin is now becoming more and more popular. as time pass people getting knowledge about bitcoin, i do not think that there will a single country throughout the world who may not be using bitcoin, to me i think the users of bitcoin are even present even in backward countries of the world. most of the people are using bitcoin as investment because the facilities of bitcoin to be use as  currency are not present in all over the world.

[jossiel]

Bitcoin holds negative image in the minds of people and they think that bitcoins is used by criminals and it is used for illegal activities and that is the reason its not getting support from the people and government.

This is one of the reason why other countries doesn't want to engage and start using and adopting bitcoin.

What comes to their mind is that it can harm their economy and they will push their people to start engaging into shady transactions.

They really don't understand bitcoin as it is not just only for those people that had been using it for their illegal deeds.

But soon, they will understand that bitcoin is a good tool to help their economy and they will start using it.

[Zggdrasil]

Bitcoin holds negative image in the minds of people and they think that bitcoins is used by criminals and it is used for illegal activities and that is the reason its not getting support from the people and government.

Yes and this is kinda stupid, market cap of all bitcoins and alts that are in circulation for sure can be bought by one cartel, like if you block bitcoins they will stop selling drugs or weapons or idk, like this is how things work, you do not allow them and bad people stop to break the rules

[th3nolo]

In my country is still not defined the status of bitcoin, the legality is in the gray zone, but the government sometimes arrest people for mining bitcoin alleging they are doing money laundering.

[TastyChillySauce00]

all country want reputation her country money. her own policies that use or disuse. but i guess  as soon as accept btc her own currency because btc give good profit.

For who? not for the government I guess, In my opinion, is that giving up the whole economy for bitcoin by simply allowing bitcoin to be the main currency is a disaster for the country, it's ain't making a profit or miracle shit. People want freedom but government need to make and use the rules to keep the country, giving freedom without limit to their citizens is as the same as destroying the whole country. And I'm sure, everything is better with regulation and law.

[erickkyut]

In my country is still not defined the status of bitcoin, the legality is in the gray zone, but the government sometimes arrest people for mining bitcoin alleging they are doing money laundering.

How can your government identifies who mines Bitcoin in your country? One of the unique characteristics of Bitcoin is that you can use it anonymously. Unless those people are very open and promoting that they are mining Bitcoin. Is there a law in your country that a person who mines or uses Bitcoin should be penalized?

[Sanitough]

In my country is still not defined the status of bitcoin, the legality is in the gray zone, but the government sometimes arrest people for mining bitcoin alleging they are doing money laundering.

How can your government identifies who mines Bitcoin in your country? One of the unique characteristics of Bitcoin is that you can use it anonymously. Unless those people are very open and promoting that they are mining Bitcoin. Is there a law in your country that a person who mines or uses Bitcoin should be penalized?

It makes me laugh, how can a mining be considered as money laundering, I think for a second he needs
to research what is "money laundering"..

[Mbah Djoko]

No one knows, I say if they don't know about bitcoin then they might not love the bitcoin. many States which close access bitcoin fearing legal money will be replace.

[malekbaba]

In most countries BTC is almost unknown. People knows little about it in some places. We have a tendency , we are greedy. I have seen that many people invest in stock market without actual knowledge. In my place majority people are farmers. They sold their cows and lands to buy some useless shares and ultimately lost everything. That is why many countries do not allow currencies other than local currency. BTC is still a risky investment. If a lot of people invest in BTC, majority people may lose their investment

[lighpulsar07]

In my country is still not defined the status of bitcoin, the legality is in the gray zone, but the government sometimes arrest people for mining bitcoin alleging they are doing money laundering.

How can your government identifies who mines Bitcoin in your country? One of the unique characteristics of Bitcoin is that you can use it anonymously. Unless those people are very open and promoting that they are mining Bitcoin. Is there a law in your country that a person who mines or uses Bitcoin should be penalized?

Hahaha! the government of any country has access to internet so, they can identify who are mining bitcoin make an illegal transactions by so called IP address they can trace the illegal activity or transactions by just tracking your IP also, they can block bitcoin network by just blocking the IP

[maimunamaryam]

Some countries fear that they would lose their earnings which they get from taxes.Moreover,they think that bitcoin would be used to buy illegal products.So they want to restrict bitcoins.

[AjithBtc]

In my country is still not defined the status of bitcoin, the legality is in the gray zone, but the government sometimes arrest people for mining bitcoin alleging they are doing money laundering.

How can your government identifies who mines Bitcoin in your country? One of the unique characteristics of Bitcoin is that you can use it anonymously. Unless those people are very open and promoting that they are mining Bitcoin. Is there a law in your country that a person who mines or uses Bitcoin should be penalized?

Hahaha! the government of any country has access to internet so, they can identify who are mining bitcoin make an illegal transactions by so called IP address they can trace the illegal activity or transactions by just tracking your IP also, they can block bitcoin network by just blocking the IP

As you said it's possible to track the users involving into mining and other transactions. But in most of the countries governments doesn't make necessary steps to do it. Recently Russia after giving access to the people gave the freedom of use that they won't be followed by the government which needs lot work to be done, because government has lot other things to concentrate on.

[Nevis]

There are alot of different issues that causes bitcoins not being supported by a specific country,first of all is legality issues its a very common issue when it comes to bitcoins adoption and last is they consider bitcoins as a threat

[posternat]

Bitcoin holds negative image in the minds of people and they think that bitcoins is used by criminals and it is used for illegal activities and that is the reason its not getting support from the people and government.

This is one of the reason why other countries doesn't want to engage and start using and adopting bitcoin.

What comes to their mind is that it can harm their economy and they will push their people to start engaging into shady transactions.

They really don't understand bitcoin as it is not just only for those people that had been using it for their illegal deeds.

But soon, they will understand that bitcoin is a good tool to help their economy and they will start using it.

Right, even the government they cannot see the significance of bitcoin to the people they are just into negative side of it, they do not look further out of it.  But we hope someday things will be okay and soon to implement as the world currency. Those shady transactions and some negative aspects of bitcoin must be erase into their minds.