Why bitcoin is not supported in some countries?

[Blawpaw]

Bitcoin is not supported in several countries but that doesn’t mean that you cannot use it over there. We can find a lot of countries where the use of bitcoin is criminalised however it is basically in those countries that bitcoin becomes more useful. These are countries who are going through a fierce capital control and that’s why bitcoin is still one of the best options

[deppil]

Countries would rather not go ahead and allow a currency to rival their own as it would be competing for usage. Plus bitcoin is one of those things that must be heavily adopted before people go ahead and start using it all the time in an average Joe environment.

Yes, but if bitcoin could be an alternative to the country's currency will be very nice I think. But do not be surprised if the countries of the fear of losing their currency competitiveness with bitcoin. Thank you

of course because bitcoin has a very great technology where people might be more interested in using bitcoin than fiat or the state currency itself, so I think that is the reason country not accept bitcoin

[manselr]

You can expect that any countries with strong communist ties like china or russia are never going to adopt something like bitcoin. But the rest of the world is no different, bitcoin is just not something a government is going to ever be interested in in general, it offers nothing that they could benefit from, I think bitcoin will always remain something radical and outside of the system in nature. Maybe tax havens find a niche in bitcoin, other than that I dont see it happening.

[Superzpay]

In some countries it is not supported because they do not know about the importance of bitcoin. For example in my country Pakistan bitcoin is used very well and the government is neutral to it and a number of companies like blockchain tech are very active in its promotion and adoption all over the country but government is not helping in that matter the reason is that the rulers are not well educated in technology.

[basesaw]

bitcoin is not supported in some countries maybe because they dont have much research about this virtual currency. they take it as a scam or just a risk for their current paper money. as it can substitute their paper money. and their paper money will have no value anymore.

[soros017]

In some countries there is a lot of instability, economic and political, especially in countries where government imposes many limitations on the economy. In these countries, governments fear Bitcoin because it can cause them to lose even more control of the situation. Moreover, they know that if people come to understand the principles around Bitcoin, they will realize that the political model imposed on such countries is a flawed model.

[error08]

Countries would rather not go ahead and allow a currency to rival their own as it would be competing for usage. Plus bitcoin is one of those things that must be heavily adopted before people go ahead and start using it all the time in an average Joe environment.

Yes, but if bitcoin could be an alternative to the country's currency will be very nice I think. But do not be surprised if the countries of the fear of losing their currency competitiveness with bitcoin. Thank you

Just my opinion.
Then how goverment take taxes from every bitcoin account in their own country?
I think they will not gonna be alternative currency, bitcoin will stay annonymous.

So far what I know that bitcoin had banned or not allowed because it become an option to do black market transaction or money laundering problems. Taxes problem will be matter if the number of users growing so much and gov sniff large amount of transaction.
Many countries doesn't regulated bitcoin yet or stated it as neutral cryptocurrency which every users should take their own risk to deal with it. I don't think bitcoin could really compete or replace fiat money in  daily basis in the nearly future but we don't know for sure about the future of bitcoin, right? So, it's remain to be an alternative payment for now.

[basesaw]

Countries would rather not go ahead and allow a currency to rival their own as it would be competing for usage. Plus bitcoin is one of those things that must be heavily adopted before people go ahead and start using it all the time in an average Joe environment.

Yes, but if bitcoin could be an alternative to the country's currency will be very nice I think. But do not be surprised if the countries of the fear of losing their currency competitiveness with bitcoin. Thank you

Just my opinion.
Then how goverment take taxes from every bitcoin account in their own country?
I think they will not gonna be alternative currency, bitcoin will stay annonymous.

So far what I know that bitcoin had banned or not allowed because it become an option to do black market transaction or money laundering problems. Taxes problem will be matter if the number of users growing so much and gov sniff large amount of transaction.
Many countries doesn't regulated bitcoin yet or stated it as neutral cryptocurrency which every users should take their own risk to deal with it. I don't think bitcoin could really compete or replace fiat money in  daily basis in the nearly future but we don't know for sure about the future of bitcoin, right? So, it's remain to be an alternative payment for now.

this also is on point. it is easy to do money laundering in bitcoin because it is digital and hard to trace where is the origin of the transaction. it is also easy to do balck market because what i have said the transaction is hard to trace from its origin. risking your current currencies is a risk for other nation as this bitcoin is easily can be launder.

[Soul Reaper]

Countries fear using bitcoins because it is such a currency which is very difficult to gain control on.It may lead to many  I mean many who would not pay tax and also the hidden and illegal transactions will gain more momentum than ever this may lead to the shift of money to the Ones who are well versed in using bitcoins henforth increasing the imbalance which is already been created between the rich and the poor. Thus many countries are against the practice to using bitcoins.

[olushakes]

Being supported if I get it right means that countries that allows accepting it as a means of exchange but I guess no country has ever done that but the support bitcoin has gather, will be difficult for any country to stop it only if they won't do have access to the internet because with that the support is already given and from the comfort of my room I can do transactions.

[revans]

I don't think that any country have fully banned the usage of bitcoins as if we check the traders on localbitcoins then we would find traders from almost all countries who are engaged in buying and selling bitcoins no doubt the use of bitcoins is not as per the expectations but that doesn't mean that countries are against bitcoins.

[BitcoinPanther]

Being supported if I get it right means that countries that allows accepting it as a means of exchange but I guess no country has ever done that but the support bitcoin has gather, will be difficult for any country to stop it only if they won't do have access to the internet because with that the support is already given and from the comfort of my room I can do transactions.

It is because the government is taking precautionary measure  in adopting or supporting an uncontrolled currency.  they have not known such thing so, they are unaware of the possible effect of Bitcoin to their country's economy. They need to study it, pass a bill and be approved.  Unlike when a single person decides, it is far more complicated and a long process for a country to pass a resplution.

[cryp24x]

Because the Bitcoin system is global, it depends neither a Bank nor a State. It can be used everywhere where internet is available and it is easily transportable. Nobody can neutralize it as would a bank by blocking accounts and ATMs. To block the bitcoin network you should stop internet! The system is immune from a bank failure. It is indecipherable and inviolable system through Cryptography, many thieves and hackers attempted to change or steal bitcoins without success. Counterfeit currency and counterfeiting are impossible. The network is unassailable.

Simply to say, Bitcoin is better than their system, has many advantages and they don't have any control on it


..... Bitcoin rules 

I think this is not the reason why Bitcoin is not supported in some country.  It is the unavailability to control Bitcoin.  There are some leaders that wants to control everything.  And Bitcoin simply contradict it.  So as a result, this leader do not support Bitcoin to the extent of banning it or tighting regulation with regards to Bitcoins transactions.

[ImHash]

Freaking tyrants is what they are, dictating to people how to live, a dictatorship is what it is, if you live in a country where for mining bitcoin you could go to jail? either deal with it yourself or your government's leaders. they don't understand what bitcoin means so they try to oppose it.

Miners are basically robots working nonstop and you need to keep them cool and feed them electricity and they will print digital money for you out of thin air.

[BarbieCasino]

I don't think that any country have fully banned the usage of bitcoins as if we check the traders on localbitcoins then we would find traders from almost all countries who are engaged in buying and selling bitcoins no doubt the use of bitcoins is not as per the expectations but that doesn't mean that countries are against bitcoins.

there are some countries where bitcoin is fully banned like russia in the past but the people of that countries still use bitcoin and they earn then online and continue their trade while they suffer a problem while using them in some of their uses.

[mornabo]

I don't think that any country have fully banned the usage of bitcoins as if we check the traders on localbitcoins then we would find traders from almost all countries who are engaged in buying and selling bitcoins no doubt the use of bitcoins is not as per the expectations but that doesn't mean that countries are against bitcoins.

of course not all countries prohibit bitcoin, but it is not necessarily they legalize bitcoin. bitcoin actually prohibited even though it does not change anything on the user bitcoin, because the state could not restrain the user not to use bitcoin?

[Tanic]

I think that would be very profitable to every government to accept bitcoin on the same level as fiat. Just imagine how many money would go in the pockets of government workers in this case! Every operation with bitcoin would be with fees.

[erickkyut]

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

Really? Is there a country that will put you into jail for 6 months if you will use bitcoin? May I know on what country? For me, I think one of the reasons why some countries does not accept or recognize bitcoin is because the government has no control over it. They cannot earn from the bitcoin users because they cannot taxed them.

[ReLieD]

Its just because it might not be popular in other countries .
It has still not become an official currency in many countries .
I am pretty sure that soon it might be accepted in other countries .
As it can be trusted , and there are millions of people who depend on bitcoin.
Also big big companies / firms have accepted bitcoins and soon will be the no. one
and the only one confirmed / legal crypto currency in the whole world.
So stay tuned and invest in bitcoins
Thanks

[canhchuacaro1]

The governments of these countries are simply afraid of Bitcoin and not without reason. They may cook up whatever excuses like Bitcoin being used for criminal activities such as money laundering and terrorism financing (as if cash weren't used for that as well, and likely with even better results), but the harsh truth is that Bitcoin competes with their local currencies and may eventually outcompete them. It is like the US dollar which everybody loves but which the governments can still more or less control through foreign currency exchange operations carried out by banks (apart from cash transactions, but these are small overall).
I think that countries see some danger in bitcoin cause of it is controlles currency and there priests or some other dark activity can use bitcoin for their stuff.