Takuul
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May 28, 2017, 08:53:25 AM |
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Indeed, there are some countries that act against bitcoin, ranging from discouraging citizens to declare it outright illegal and from fines to prison time. The reasons vary since these countries mostly doing a monopoly on their local currency's value "china" therefore freely trading it to USD is bad for them, some "pakistan etc..." have strict regulations on international tx's, they can easily control banks but not bitcoin, hence they are against it.
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"Governments are good at cutting off the heads of a centrally
controlled
networks like Napster, but pure P2P networks like Gnutella and Tor seem
to be holding their own." -- Satoshi
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taxmanmt5
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May 28, 2017, 09:21:27 AM |
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There are few countries banned BTC and don't allow their citizens to use it mostly because of the effect on the local currency in exchange for an international one (BTC), Therefore will result in their currency seeing it's actual value compared to other currencies compared to BTC.
This is a major problem in countries, where the national currency is extremely volatile, such as Venezuela and Argentina. Normally, limits are there regarding the conversion of the national currency to other foreign currencies. But in case of Bitcoin, these limits can't be enforced in most cases, due to the transnational nature of BTC. No matter how much a government dislike bitcoins and make it harder for people to use it or convert it into fiat, still they will not succeed in it 100%. Insipite of all the bans make by the governments, people are still able to use it online . Governments can only discourage the use of bitcoins by giving lots of incentives in local currency transactions but they cant completely ban it. |
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White Christmas
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★Bitvest.io★ Play Plinko or Invest!
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May 28, 2017, 09:52:53 AM |
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Those countries fear that Bitcoin will make their economy to go down. Also several taxation problems have been their, as people prefer Bitcoin to escape taxes. Possibly when things go digitalized countries will use Bitcoin's technology to make their own digital currency.
Yeah. In some reason why other countries didn't support bitcoin is they are afraid to become it their literal currency. taxation problems? I agree here because bitcoin will have a big tax if they allow it in their countries. And the last reason that i think is because they didn't believe on it that it can make their country into better. They are thinking that if we say bitcoin its about scam. |
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micher143
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May 28, 2017, 10:08:38 AM |
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They are afraid that people on a certain country will fully switch to bitcoin and with that thing happen problem will arise regarding on implementing tax and thats the time the government will have a very big problem because most people do already have the control on their money unlike on banks which is regulated by the government.
Exactly they are afraid of getting bitcoin to be the number 1 currency in their country. They doesn't have that faith that bitcoin can change their country in to better. Government didn't trust bitcoin that much because they think that this will be the reason of falling down of their country. Maybe they didn't know yet why bitcoin should be accept in their country. |
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orarider
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May 28, 2017, 11:52:07 AM |
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Those countries fear that Bitcoin will make their economy to go down. Also several taxation problems have been their, as people prefer Bitcoin to escape taxes. Possibly when things go digitalized countries will use Bitcoin's technology to make their own digital currency.
Yeah. In some reason why other countries didn't support bitcoin is they are afraid to become it their literal currency. taxation problems? I agree here because bitcoin will have a big tax if they allow it in their countries. And the last reason that i think is because they didn't believe on it that it can make their country into better. They are thinking that if we say bitcoin its about scam. Taxation is not a matter for countries to reject bitcoin. Bitcoin is a virtual currency too secure, which will make it difficult for government to manage, and most countries are not capable of doing it. |
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KesoNie
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May 28, 2017, 11:56:47 AM |
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Its simple. Different laws for different countries. Many places take it as the future currency, many are confused about it while the rest just dont want to think about it.
Yes its true, different countries, different laws that we need to obey. Sometimes other countries blocks citizens to surf and thats why they cant earn bitcoin as much as they want. We cannot disobey rules because it has a punishment. |
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Eclipse26
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bullsvsbears.io
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May 28, 2017, 12:00:29 PM |
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The major reason about that is its legality and it's not yet full studied by the government. We can say that it's easy to leagalized bitcoin im country but it's not. It would take many years to fully reviewed its currency and it must have a law and agreement. This is something not easy to do that's why it's not supported in all countries.
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Azurecde
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May 28, 2017, 12:01:09 PM |
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because of anonimity and government fear of people not paying taxes with btc  |
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TIDOVEE
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May 28, 2017, 12:06:13 PM |
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Different countries with different constitutions, the government know her people, in a country where fraud is vast, any opportunity may miused for fraud. The government may not be blamed. but individual can apply wisdom if interested.
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SingAlong
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May 28, 2017, 12:23:22 PM |
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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 would say that it is due to the anonymity of Bitcoin and the fact that it would be hard to regulate it. Russia banned Bitcoin but now they have turned their standing oppositely because they have seen the capabilities, potentials, the benefits it can offer to their country especially with the great impact to their economy or maybe a solution to the problem they have been facing. I wish that those countries who have considered the use of Bitcoin or the entire cryptocurrencies will see the light and not to miss the opportunity, the blessing that are in front of them. |
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Souldream
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May 28, 2017, 12:52:51 PM |
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Different countries with different constitutions, the government know her people, in a country where fraud is vast, any opportunity may miused for fraud. The government may not be blamed. but individual can apply wisdom if interested.
yes you are right, different countries different laws. like in some part of the eastern, they prohibited citizens to use internet, therefore people doesnt be able to earn bitcoin because government doesnt allow them , and it is not legalize it yet. They are rules in each country we cannot understand it now , but in their citizens in their countries they can understand it why. |
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yellow1
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May 28, 2017, 12:58:49 PM |
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Because some of the countries is protect of their national currency some are banned by their government. many countries banned because they fear about their economics or maybe affect. Because they know that a bitcoin is give opportunities to people that's why their government does not legal. They afraid its because if a bitcoin is become familiar it is a future currency.
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Caelanpelley
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May 28, 2017, 01:05:48 PM |
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They are afraid that people on a certain country will fully switch to bitcoin and with that thing happen problem will arise regarding on implementing tax and thats the time the government will have a very big problem because most people do already have the control on their money unlike on banks which is regulated by the government.
I agree with you. Protecting national security is very important. Perhaps they are concerned that criminals will attack the bitcoin network, which is not strictly regulated. Countries have different thoughts and decisions, some countries think it is potential in the future but some countries are also worried about managing this currency. |
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CoinFoxs
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Campaign Management & Translation Service
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May 28, 2017, 01:26:37 PM |
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Because some of the countries is protect of their national currency some are banned by their government. many countries banned because they fear about their economics or maybe affect. Because they know that a bitcoin is give opportunities to people that's why their government does not legal. They afraid its because if a bitcoin is become familiar it is a future currency.
The only fear that some countries don't support bitcoin is, they thought people use it for illegal things like people will not pay taxes because bitcoin is decentralized and government has no powet to control bitcoin that's the are not supporting bitcoin. |
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barnes13
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May 28, 2017, 01:42:09 PM |
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Maybe the main reason why many countries not support Bitcoin is they don't see the advantage of Bitcoin and thinks that's not the urgent things to support Bitcoin in their countries, someday they will suport and adopt Bitcoin soon.
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Vaculin
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May 28, 2017, 01:51:14 PM |
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They are afraid that people on a certain country will fully switch to bitcoin and with that thing happen problem will arise regarding on implementing tax and thats the time the government will have a very big problem because most people do already have the control on their money unlike on banks which is regulated by the government.
I agree with you. Protecting national security is very important. Perhaps they are concerned that criminals will attack the bitcoin network, which is not strictly regulated. Countries have different thoughts and decisions, some countries think it is potential in the future but some countries are also worried about managing this currency. You have your point.Maybe there would be more countries IMO who will support bitcoin because of its potential that will also help to improve ones' country.On the contrary,countries who refuse to support bitcoin maybe bitcoin still a strange thing for them without realizing its effect that may somehow create a good feedback for them. |
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slaz26
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May 28, 2017, 02:12:47 PM |
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They are afraid that people on a certain country will fully switch to bitcoin and with that thing happen problem will arise regarding on implementing tax and thats the time the government will have a very big problem because most people do already have the control on their money unlike on banks which is regulated by the government.
I agree with you. Protecting national security is very important. Perhaps they are concerned that criminals will attack the bitcoin network, which is not strictly regulated. Countries have different thoughts and decisions, some countries think it is potential in the future but some countries are also worried about managing this currency. You have your point.Maybe there would be more countries IMO who will support bitcoin because of its potential that will also help to improve ones' country.On the contrary,countries who refuse to support bitcoin maybe bitcoin still a strange thing for them without realizing its effect that may somehow create a good feedback for them. Bitcoin is supported by countries with a strong economic system. Poor countries, on the contrary, are afraid to use bitcoin. And they try to prohibit citizens from using it. But in the future many countries, at least in part, will take bitcoin |
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SamsungBitcoin
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May 28, 2017, 02:16:01 PM |
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They are afraid that people on a certain country will fully switch to bitcoin and with that thing happen problem will arise regarding on implementing tax and thats the time the government will have a very big problem because most people do already have the control on their money unlike on banks which is regulated by the government.
I agree with you. Protecting national security is very important. Perhaps they are concerned that criminals will attack the bitcoin network, which is not strictly regulated. Countries have different thoughts and decisions, some countries think it is potential in the future but some countries are also worried about managing this currency. You have your point.Maybe there would be more countries IMO who will support bitcoin because of its potential that will also help to improve ones' country.On the contrary,countries who refuse to support bitcoin maybe bitcoin still a strange thing for them without realizing its effect that may somehow create a good feedback for them. Bitcoin is supported by countries with a strong economic system. Poor countries, on the contrary, are afraid to use bitcoin. And they try to prohibit citizens from using it. But in the future many countries, at least in part, will take bitcoin Bitcoin have big help to make people stay away in financial problem and bitcoin is much better to adopt by poor countries to have unemployed people would able to earn because bitcoin is not required any papers to start to earn. Unlike a regular job. |
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iqlimasyadiqa
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May 28, 2017, 02:34:27 PM |
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Because some of the countries is protect of their national currency some are banned by their government. many countries banned because they fear about their economics or maybe affect. Because they know that a bitcoin is give opportunities to people that's why their government does not legal. They afraid its because if a bitcoin is become familiar it is a future currency.
That is the main reason for the state leaders. They have an incredible fear with bitcoin. They do not want the financial system in the country disturbed. In addition they are also frightened because of the unstable bitcoin. It could be that a country becomes destroyed when they can not manage finances well. |
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DomainReseller
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May 28, 2017, 02:48:16 PM |
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Bitcoin does pose a big issues for some countries, best example of these are Russia and China, where the financial system is not completely free and the local currency is controlled to an extent "we all know how much the US is trying to make China release it's coin to the world and hence improving in value, which would make Chinese products more expensive", Anyhow, BTC circumvent this since the local currency is traded to BTC "and mostly exchanged to USD earlier" hence impacting the price... Some countries ban it because it's hard to regulate and the countries are just incompetent.
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