Why bitcoin is not supported in some countries?

[ZlaiaZaia]

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.

In my country Bitcoin I have not yet been legalized, Although there is no law on prohibition. But at the same time the banking sector is very actively using blocking technology.

[1714806420]

1714806420

[DoublerHunter]

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.

In my country Bitcoin I have not yet been legalized, Although there is no law on prohibition. But at the same time the banking sector is very actively using blocking technology.

I think it is better if your government in your country do some research about bitcoin so they can think about it and decide if they will accept bitcoin because if they are doing a good progress in your country then it will be easy for them to notice bitcoin as a good investment because just look at the news, almost all the big countries are accepting and using bitcoin so it will be a huge help to your country to adopt bitcoin also. You can build your small community from your country so you can build a group that can help bitcoin to notice by the governments there.

[mdzahed134]

Bitcoin is illegal for few countries Because the government thinks that bitcoin will do much harm to their economy.It's someone uses it illegally in this county then the government takes legal action.

[raven7886]

Every country has a law and has regulations to be followed.Maybe the one who is leading a country that banned or give punishment if people uses bitcoins dont like or see bitcoins as a threat to his country.

Maybe the leader himself is not open to changes or open to innovations because Bitcoin has changed the way transaction works and how it possibly can change how we transfer money from one place to another.

This can be true and this is quite expected. We should not expect everybody to embrace new changes especially when it comes to financial infrastructures like what Bitcoin in particular or cryptocurrency in general can be bringing on the table. Change can take some time. As they say, Rome was definitely not built in a day.

One big reason why there are those who resist and oppose Bitcoin is because this is not issued by any power and is not really backed by any tangible assets like gold or any metal for that matter. Bitcoin is representing a new paradigm which has no role model in the past. Partly, using this view, one can say that Bitcoin has its own risks embedded in itself.

In the coming years, we can witness how Bitcoin can go mainstream and be really adopted on a global scale. However, as in the study of human nature, we are not also sure if there would be an intervening event along the way that can change the trajectory of the Bitcoin growth...people can only analyze and even predict but the actual events can be beyond our own hands.

Yes true. I am looking to this issue from another perspective, if we look back to the history every new invention take some time for it to be accepted by the governments of that time because of certain interests and same is the case with the bitcoin that the government will take enough time to switch their interest.

[erickkyut]

Bitcoin is illegal for few countries Because the government thinks that bitcoin will do much harm to their economy.It's someone uses it illegally in this county then the government takes legal action.

I think it's not because Bitcoin will do harm on their economy but because it is decentralized and the government don't have any control over it. If they cannot control Bitcoin, they will have no benefit from it. Even though some countries banned Bitcoin, some users can still use it because the government has no way to trace them.

[KesoNie]

Their countries , their laws.  It really depends on your definition for not supported too . If we speak about banning then as far as I know I don't think there is a country that actually banned bitcoin , at least nothing official and If there is then Its related to the banking system with one way or another . If its about the lack of usability in ATMs , local shops then there are plenty of countries and It takes time as some countries have more priorities .

yes it is, every country has their own law that they are implementing we should obey it because if we not, we will be punished, just wai tuntil all the countries will have to use bitcoin in their everyday needs and will legalize it.

[johnwest]

Bitcoin is illegal for few countries Because the government thinks that bitcoin will do much harm to their economy.It's someone uses it illegally in this county then the government takes legal action.

I think it's not because Bitcoin will do harm on their economy but because it is decentralized and the government don't have any control over it. If they cannot control Bitcoin, they will have no benefit from it. Even though some countries banned Bitcoin, some users can still use it because the government has no way to trace them.

No government wants something which cannot be controlled by their cheap politicians. They want to have control over their population no matter what and thats why Bitcoin is banned in some countries. BTC gives people a chance to make money and can transfer anywhere so easily. One of the best technology of this century if you ask me.

[Rufsilf]

Bitcoin is not supported in some countries for the two things i know, first is they didn't know bitcoin yet or haven't discovered it by their staffs or research team or second is, they banned it because of the illegal activities that is involved with bitcoin like the criminals took advantage of using bitcoin to stay anonymous to their bad habits.

[AngelSky]

Bitcoin is not supported in some countries for the two things i know, first is they didn't know bitcoin yet or haven't discovered it by their staffs or research team or second is, they banned it because of the illegal activities that is involved with bitcoin like the criminals took advantage of using bitcoin to stay anonymous to their bad habits.

Every country and financial institutions in those countries completely know about the bitcoin. If you bitcoin adopted without any modification simply every fake fees for the merchants and banks behind the transaction will be available on open to see for everyone. This is the Many Government not adopt the bitcoin as it is, Corporates copying the blockchain technology and trying to hide the things which are should see by the normal users on it.

[bouren]

Give me a break but anybody can tell me which country has a ban on bitcoin ?? As far as I know none country has banned the use of bitcoin till now however it isn't legal even.
But if someone gonna use it for illegal things like on deep web, buying drugs etc. then nothing below the sky could permit the use of bitcoin!

[rickadone]

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

This is a very valid reason that you have discussed. I appreciate that you actually understand that reason due to which some government fear of the Bitcoin and ignoring it to be promoted and make steps for the legality of the BTC.

As the local currency of any country represents the strength of the particular country and with the BTC the governments can’t do this.

[Pab]

I will rather say in what countrys bitcoin is supported,you will find just few cuntrys where bitcoins is supported

[icecube45]

Bitcoin is illegal for few countries Because the government thinks that bitcoin will do much harm to their economy.It's someone uses it illegally in this county then the government takes legal action.

Bitcoin will indeed disrupt economic stability if adopted in large quantities, but if still in small quantities it will not have a big effect. But I think that's not what makes some countries do not support bitcoin. I think the security factor is the right reason. The security of bitcoin is considered not good by some governments, it is because potentially used for illegal activities (such as money laundering, etc.) and is considered at times can be hacked. No controls make the government doubt the security of bitcoin.

[Jewell]

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

but i think the trend about the use of bitcoin is increasing. as now we can see that the users of bitcoin are available in all over the world and i do not think that there will be a single country where the users of bitcoin will not be available. i think still bitcoin is becoming popular and more and more people are adopting bitcoin.

[poldanmig]

State regulatory factors that cause the absence of bitcoin. There are even some countries that clearly prohibit the use of bitcoin because it is considered a scam.

[deisik]

Their countries , their laws.  It really depends on your definition for not supported too . If we speak about banning then as far as I know I don't think there is a country that actually banned bitcoin , at least nothing official and If there is then Its related to the banking system with one way or another . If its about the lack of usability in ATMs , local shops then there are plenty of countries and It takes time as some countries have more priorities .

yes it is, every country has their own law that they are implementing we should obey it because if we not, we will be punished, just wai tuntil all the countries will have to use bitcoin in their everyday needs and will legalize it.

This is what they want you to think

But, as Thomas Jefferson allegedly said, if a law is unjust, a man is not only right to disobey it, he is obligated to do so. Well, I'm not so brave as that dude from the American history (provided he really said that in the first place) but I'm still conceptually agree with him, though I differ in methods. I'm more prone to concealed disobedience and using the system's flaws in my favor (i.e milking it, in a sense). The best is when you can manage to make one part of it fight against another all the while reaping profits (even if purely emotional)

[Supercrypt]

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.

The issues due to decentralization can be treated and may not be acceptable but to understand the fact that it is not the fiat, we need to understand this point that it is not a fiat money and there is a huge difference in both the fiat and the digital money. Also the blame game to the BTC is not fair as every currency is being used for illegal activities.

[PizzaBTC]

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.

This is very true I totally agree. The main fear is actually about the power and the control, the governments want the ultimate power which in the case of the Bitcoin is not possible for them to gain it.
As the BTC culture and norms are different from the fiat and the government is not will to change the traits so they discourage the BTC so, to hold the power with itself.

[sergeyzol]

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.

This is very true I totally agree. The main fear is actually about the power and the control, the governments want the ultimate power which in the case of the Bitcoin is not possible for them to gain it.
As the BTC culture and norms are different from the fiat and the government is not will to change the traits so they discourage the BTC so, to hold the power with itself.

The government will not allow the development of the bitcoin in the country without control over it. The state is interested in making a profit from any currency.

[zarintasnim]

Some countries do not support bitcoin. There are many reason such as they have won economic policy on their people. Government can not taking tax who use bitcoin. Bitcoin transaction is hide so it also creat money londaring. Bitcoin can hamper their on economy.