Why bitcoin is not supported in some countries?

[Dudeperfect]

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

Yes it is possible to ban bitcoin or use of bitcoin is illegal in some countries, however, the government cannot do anything about this because you cannot trace someone's transactions made on Blockchain.

I don’t think putting a ban on bitcoin is a good idea because anyone can use bitcoin using TOR or private VPNs and ban won’t affect anything. Yes I agree that there are some people who are using bitcoin for illegal purpose but they used to deal with fiat before this one and fiat was not banned so why bitcoin? We need to find a concrete solution to avoid such conflicts with the governments.

[lOvE mE forEvEr]

Not in some countries, but almost all countries, I think it is because of negative news about bitcoin. I'm sure, someday bitcoin acceptable to many countries. We can see the users always increased every years.

[diegz]

Not in some countries, but almost all countries, I think it is because of negative news about bitcoin. I'm sure, someday bitcoin acceptable to many countries. We can see the users always increased every years.

No, not because they know bitcoin, but because they don't know it, they don't even make a review and just ban it in an impression that it is not legal, so why would they accept the proliferation of it in their country. There is no reason for government to ban it since most exchanges will exchange it to their local currencies.

Actually with the situation right now in most countries that it is not being supported is just fine, atleast they are not doing something to prevent its entry to their country.

[deisik]

There are many reason why bitcoin is not supported in other countries. If you could see the government, they need taxes- taxes is a very important in the country to have an successful economy and because of that they'll banned bitcoin. Bitcoin is a crypto-currency or a paper money and they don't get a taxes into it and that is the reason why they banned it.

I think tax is not the important factor.

The main factor is the countries not yet ready to accept bitcoin, and the country still prioritizes the fiat money for the direct transaction. Until now, there are no countries that approved the use of the currencies from other countries directly, the official currency of other countries just could not accepted for transactions in the country, let alone the bitcoin which until now there hasn't been any countries that used it officially

You are pretty much wrong on this

I can name you a few such countries right from my memory which abandoned their national currencies and are now using the US dollar instead as their official currency (i.e. as legal tender with which you pay taxes). First, it is the notorious Zimbabwe which switched to the dollar a few years ago unable to cope with corruption and inflation, and then a few banana republics like Panama, Honduras and Ecuador which are mostly trading with the US and thus don't need to run a local currency at all



Perhaps, there are more which I simply don't know about

[coynedterm]

Not in some countries, but almost all countries, I think it is because of negative news about bitcoin. I'm sure, someday bitcoin acceptable to many countries. We can see the users always increased every years.

No, not because they know bitcoin, but because they don't know it, they don't even make a review and just ban it in an impression that it is not legal, so why would they accept the proliferation of it in their country. There is no reason for government to ban it since most exchanges will exchange it to their local currencies.

Actually with the situation right now in most countries that it is not being supported is just fine, atleast they are not doing something to prevent its entry to their country.

Yup! , every countries government knows very well about bitcoin and knows its profitable quality also . But their traditional thinking to have system like bank money is preferred more than bitcoin . The most of the governments are thinking that due to bitcoin the flow of money from the country to another country taking place without control and due to this they are thinking that from bitcoin deals the goverrments is not able to make money from tax , as no one can take tax from bitcoin , .
Overall I mean it is just misunderstanding and wanting to make much profit from the people of the country .

[bitloud]

Actually each country have their own policy. They may banned due to several taxation problems have been their, as people prefer Bitcoin to escape taxes.

[EcoNorm]

For starters its a game of politics,
first of all the government would want people to use a coin that cannot be taxed on + cannot be monitzed and could lead to mabye illegal purcashes in some cases, and mabye they are just afraid of the change, they know like us the potential this coin has.
I belive the people that are pushing foward the industry will get it out there in every country in the next 30 years or so.

[olubams]

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

To the best of my knowledge and as at the last time I checked countries have legitimacy to decide what is best for them in terms of their finance so far they are not practicing genocide. They have their reason for taking such drastic measures and such reasons are not far fetched as we all know. The primary and major reason is control, in the sense that if they cannot control money, then they cannot control your income and by so doing they cant tax you which means loss of revenue to government. Other excuses they might offer are just secondary to me...

[st0nefish]

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

According to the states, it does not matter how you produce your bitcoin. What is important for them is how much they can control this technology. The states already know the energy and labor you spend on bitcoin production.

[deisik]

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

To the best of my knowledge and as at the last time I checked countries have legitimacy to decide what is best for them in terms of their finance so far they are not practicing genocide. They have their reason for taking such drastic measures and such reasons are not far fetched as we all know. The primary and major reason is control, in the sense that if they cannot control money, then they cannot control your income and by so doing they cant tax you which means loss of revenue to government. Other excuses they might offer are just secondary to me...

It is not so much about the loss of revenue as the loss of power

Basically, control over the money and money flows gives the government the power over an individual. If the authorities block all his bank accounts, this poor fellow may simply starve to death in the mostly cashless world of today. Look at what happened to WikiLeaks when all accounts that were affiliated with it had been blocked, it was almost done with, and it is rumored that it was anonymous Bitcoin donations that saved it from the almost inevitable financial insolvency. The same can happen to any person if he attracts negative attention from the government. Bitcoin essentially frees people from such financial diktat of the government

[blackhawkeye1912]

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

Of course this business, it is very obvious that bitcoin in the other countries are threat to their business. Perhaps, they felt bitcoin is competing their resources, but in reality no its not. In fact, if they will attach it to their business it will actually pushing up there business to grow fast.

[romero121]

I think in some countries bitcoin is prohibited because of the government. Because government know that they can't collect tax in online transaction like bitcoin. But in some countries the government take advantage for it and make it to grow the economy for that country

They can collect taxes in bitcoin actually but the main reason is fiat still exist if they support bitcoins what do you think will happen in our fiat? Big effect right? There is a possibility fiat will vanished because bitcoin are offering small fees for every transactions.

Transaction alone has the reduced fee as well the fast. But for other needs people are still in need of fiat. For this reason several countries don't focus on bitcoin and for other purposes the backing technology being used a lot.

[royalfestus]

Some third world countries dont have an active effect of bitcoin in the transaction within their region, yet they claim they cant afford their populace to adopt it. The fear for the coin worries me atimes. Why the fear to make life easier with technology

[Vikingr]

I think in some countries bitcoin is prohibited because of the government. Because government know that they can't collect tax in online transaction like bitcoin. But in some countries the government take advantage for it and make it to grow the economy for that country

They can collect taxes in bitcoin actually but the main reason is fiat still exist if they support bitcoins what do you think will happen in our fiat? Big effect right? There is a possibility fiat will vanished because bitcoin are offering small fees for every transactions.

No I do not think that they care for the fiat but they only care for the own benefits and that are not fulfilled with fiat in some countries the rulers are corrupt and they often steal the money of the nation by different ways so they do not want to show that financial activity on the blockchain technology.

[markyminer]

Some third world countries dont have an active effect of bitcoin in the transaction within their region, yet they claim they cant afford their populace to adopt it. The fear for the coin worries me atimes. Why the fear to make life easier with technology

i think it is not the main reason, but the main reason can be that in third world countries the education ratio is very low there, and they have also very limited resource of compute internet, their people cannot affort compute and internet that is why they do not have access to bitcoin to use it, i think it will still take some more time when they will have access to bitcoin.

[The_Dark_Knight]

I think in some countries bitcoin is prohibited because of the government. Because government know that they can't collect tax in online transaction like bitcoin. But in some countries the government take advantage for it and make it to grow the economy for that country

They can collect taxes in bitcoin actually but the main reason is fiat still exist if they support bitcoins what do you think will happen in our fiat? Big effect right? There is a possibility fiat will vanished because bitcoin are offering small fees for every transactions.

Bitcoin is great but even bitcoin has limitations, for example if you use cash there are no transaction fees, using cash to pay can be very anonymous depending on the measures you take, so cash still has a place for some.

[morgand]

Some third world countries dont have an active effect of bitcoin in the transaction within their region, yet they claim they cant afford their populace to adopt it. The fear for the coin worries me atimes. Why the fear to make life easier with technology

lol you talking about my country, yes theyre afraid using technology, they like the old school transaction, and dont want a change.
but if some market in my country start accepting bitcoin payment, maybe they will learn,earn,and do some things about coin.

[Botnake]

Some third world countries dont have an active effect of bitcoin in the transaction within their region, yet they claim they cant afford their populace to adopt it. The fear for the coin worries me atimes. Why the fear to make life easier with technology

lol you talking about my country, yes theyre afraid using technology, they like the old school transaction, and dont want a change.
but if some market in my country start accepting bitcoin payment, maybe they will learn,earn,and do some things about coin.

The reality shall be serve, when big countries accept bitcoin, small countries follow. It take time dude, also live in a small country and I notice there are no merchant or stores that accept bitcoin, I am sure they are aware but they are still waiting for the right timing since it's hard to compromise their business when bitcoin was not fully back by the government.

[royalfestus]

Some third world countries dont have an active effect of bitcoin in the transaction within their region, yet they claim they cant afford their populace to adopt it. The fear for the coin worries me atimes. Why the fear to make life easier with technology

lol you talking about my country, yes theyre afraid using technology, they like the old school transaction, and dont want a change.
but if some market in my country start accepting bitcoin payment, maybe they will learn,earn,and do some things about coin.

The reality shall be serve, when big countries accept bitcoin, small countries follow. It take time dude, also live in a small country and I notice there are no merchant or stores that accept bitcoin, I am sure they are aware but they are still waiting for the right timing since it's hard to compromise their business when bitcoin was not fully back by the government.

Why this?   https://www.cryptocoinsnews.com/nigeria-warns-banks-bitcoin-ripple-monero-litecoin-dogecoin-onecoin/

[Mastsetad]

Some third world countries dont have an active effect of bitcoin in the transaction within their region, yet they claim they cant afford their populace to adopt it. The fear for the coin worries me atimes. Why the fear to make life easier with technology

Maybe that is not the reason. Well i personally feel that the countries that does not support bitcoin are the ones which does not yet know much about it. Maybe the people living their just heard about it but never had a clear explanation about it so maybe that is why none of them tried to use it nor government did anything about that.