Why bitcoin is not supported in some countries?

[rajasumi2]

Bitcoin is not supported in all the countries because it has some policies regarding using bitcoins.because some people were using bitcoins for money laundering and drugs .well i have not got any information about this till now .

[Kprawn]

What is your first reaction, when you are confronted with something new and strange? Fear ...Some countries are governed by dictators, who will do

anything to keep control over their citizens. They have used the financial system in their favour for years, to manipulate people. They determine

how much money leave the country and on what it is spend. Bitcoin can be used to circumvent capital controls, so the natural thing to do is for

them to "fear" this technology and to over regulate or even to ban it. This will be their loss, because Bitcoin is the future of money. 

[camarasikhou1945]

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

some countries they are banned from electronic currency Bitcoin as: Bangladesh, Bolivia, China, Ecuador, Iceland, India, Russia, Sweden, Thailand. The reason here is that such restrictions Bitcoin transactions are anonymous Bitcoin should Bitcoin could become a tool for criminals such as money laundering, drug trafficking, tax evasion, illegal payments!

[kryptqnick]

Well, maybe the governments don't want their people to risk and blame the gov then. However, I suppose in such a case there will just be some advice not to use it or that the government does not provide any guarantees. I think bitcoin is just dangerous for countries. Big sums of money without known owners and control. And the main problem is that btc shows people can deal with each other and have a strong currency without the state and the government.

[Betwrong]

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 have never heard about a country where you can get 6 months in jail for using Bitcoin. What country are you talking about? Bank of Thailand declared bitcoin illegal in 2013 but then it looks like they've changed their mind. Coindesk states that currently, Iceland, Bolivia, Ecuador, Kyrgyzstan and Vietnam are the only countries that seem to have some level of bitcoin ban in place, but they never mentioned a jail sentence.

[Wandering Soul~]

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

Cause every country is different . Each has a different laws, culture, tradition and view of things .

Probably cause bitcoin is anonymous and cannot be controlled by government . If its anonymous then it can attract people who are planning to do illegal stuffs and considering its past involvement with silk road, they might view it as a potential threat or something . Since they can't control it, There is no way to tax people or to trace some people .

[jak3]

there is always some answer to everything. First let me clear the mining process your pc will solve the network blocks which also helps in people's transactions and a government can do whatever they want

[avatar_kiyoshi]

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

If you know, Bangladesh ever thrown bitcoin users to jail.
For every country, they have their own term, rules and conditions, you can find here: https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country you can see why the reason the country accept or denied bitcoin activity.

So you have second question, it's about mining? Could be it will help you: http://www.coindesk.com/information/how-bitcoin-mining-works/

[btcxyzzz]

Bitcoin is disruption of financial services and fraudulent fiat/fractional reserve banking, that's why it is banned around. Actually I wonder how it is supported this much in various countries.

[Ewinsane]

 they consider that bitcoin is risky and fear from high risk because they are not supporting bitcoin but i think they do not know that bitcoin is very much profitable and secure currency and they do not know that bitcoin has too much lowest risk than other crypto currency.

[AGD]

Bitcoin is disruption of financial services and fraudulent fiat/fractional reserve banking, that's why it is banned around. Actually I wonder how it is supported this much in various countries.

It's because some didn't understand the concept of Bitcoin, yet. At least the ECB is already starting to get nervous: http://www.zerohedge.com/news/2016-10-19/ecb-wants-curb-bitcoin-use-over-fears-it-may-lose-control-over-money-supply

[Tanic]

I think bitcoin is not supported in some countries exactly cause of it's high risk nature. Bitcoin can used by terrorists in their activity, cause of it's hard to trak operations provided in bitcoins

[uneng]

I think bitcoin is not supported in some countries exactly cause of it's high risk nature. Bitcoin can used by terrorists in their activity, cause of it's hard to trak operations provided in bitcoins

Terrorists intelligence is much advanced, they can use bitcoins even if the government doesn't allow it in a country.
I think this action of forbid bitcoin doesn't help anything to prevent terrorism. The only impaired on this situation are the honest people trying to earn some money to help their finances without pay high fees to the government.

[smho_16]

It's bitcoin is feared by the government. Many of the countries are against it because they cannot control it. However the jail happens in such countries when the bitcoin user is not very knowledgeable how to safe guard himself. If someone use TOR together with a VPN the government cannot track him down in most of the cases.

As far as I know only Russia so far has declared bitcoin banned and if someone from there uses it risk jails. Yet a lot of Russians use it without problems at all.

[shinratensei_]

I have heard that bitcoin is not supported in some countries. But why ?

was linking to Criminals problem, Un-organized(anonymity), Transparency.

Is it because bitcoin is risky ? Some countries even declare 6 months jail if her people use bitcoin. Is it fair ?

Just in bangladesh, someone was really getting jail for using it.

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 ?

For bitcon mining, GPU has died.

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

But it's your lucky, dude. for leave it.

[examplens]

I think, it is most often countries where you have corrupt economies and do not have a mechanism to control bitcoin.
"terrorism" it is just excuse

[The_Dark_Knight]

It's bitcoin is feared by the government. Many of the countries are against it because they cannot control it. However the jail happens in such countries when the bitcoin user is not very knowledgeable how to safe guard himself. If someone use TOR together with a VPN the government cannot track him down in most of the cases.

As far as I know only Russia so far has declared bitcoin banned and if someone from there uses it risk jails. Yet a lot of Russians use it without problems at all.

Yeah it depends on the country, the first time I saw someone talking about bitcoin in television, he was saying bitcoin was just a ponzi scam and that you could not buy anything with it, it was just FUD on steroids.

[JANGKRIK BOSS]

This is due to concerns that it could in the bitcoin speculation. Of course the country should be able to fully control the currency in circulation in the country, because of the bitcoin can not fully controlled, surely will be rejected.

[ErikSneijer]

Bitcoin is not supported in all the countries because it has some policies regarding using bitcoins.because some people were using bitcoins for money laundering and drugs .well i have not got any information about this till now .

Indeed the fact is that some governments are against the bitcoin because they are scared it will destroy their own economy.

[diegz]

This is due to concerns that it could in the bitcoin speculation. Of course the country should be able to fully control the currency in circulation in the country, because of the bitcoin can not fully controlled, surely will be rejected.

Nope, it can't be a reason why a country would ban bitcoin from entering their country. Why? it can't affect much the economy, all the commodities and services are payable with fiat that the government distributed, that means each person that uses bitcoin and converted it to fiat to buy things and services, therefore, the existence of bitcoin isn't really a treat to the country.

There should be a deeper and more valid reason why country would ban bitcoin.