Why bitcoin is not supported in some countries?

[Vikash kumar]

as i know that the bit coin is not uses in some countries due to punishment by their government .if they do not follow their national rule then it may be they locked up in jai in the case of illegal work.

[NEWGOODOUBLE]

I am also included in this list of those countries who don't accept bitcoin. But in my country, reason is that my government is not accept it and nor deny it, because our government leaders have no interest in public welfare matters. I wish God give us good government, But my people, they like all crypt currencies and also they are earning from them.

I think what the government is the right thing for them. since by prohibiting bitcoin then they would save them from the threat of currency bitcoin. I think it was the right thing for the government

[deisik]

As far as I know, most countries do not yet have well-defined regulations regarding the use of Bitcoin, so I could not say that Bitcoin is not supported by most countries, nor would it make much sense to say that such countries are supporting the use of the currency. But in any case, this does not interfere very much in the use of the currency, since the use of the Bitcoin depends more on the users and miners

But this doesn't mean that governments are indifferent toward Bitcoin

in most cases they are either hostile or friendly overall. For example, the Chinese government seems to be covertly hostile toward Bitcoin, though they are obviously trying to hide their hostility just like what the Russian government does (but the latter has been more straightforward, anyway), They don't want to look like a black sheep of sorts if Bitcoin takes off for real eventually, but they don't want to openly endorse it either, especially if it's set to fail in the end. On the other hand, they might not want to be a sheep at all



If you know what I mean

[terrate]

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

The main reason is country need to protect their currency.

the 2nd reason is prevent ppl change its currency to btc for laundering.

the 3rd is prevent it use in dark area.

4th is prevent the troublesome as btc cant be control .

[Ewinsane]

as i know that the bit coin is not uses in some countries due to punishment by their government .if they do not follow their national rule then it may be they locked up in jai in the case of illegal work.

i do not believe it that some countries punishing to users of bitcoin by the government and i think bitcoin is just digital currency and which is just using for online transaction and bitcoin is not illegal currency for me .

[HanSchultz]

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.

There wont be any tax difficulties and you must consider bitcoin as an asset ,for example if you are investing in bonds you are not paying tax for the amount in bound but you only pay the tax when you are converting or selling it for cash and that is the case with bitcoin too.

[bettercrypto]

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

The main reason is country need to protect their currency.

the 2nd reason is prevent ppl change its currency to btc for laundering.

the 3rd is prevent it use in dark area.

4th is prevent the troublesome as btc cant be control .

Actually it is full ignorance.  If not it is because of the corruption.  Using a cryptocurrency will expose these leaders about the illegal stuff they do themselves.  Being used in money laundering and terrorist is just an excuse.  Even regular fiat currency is heavily exploited in these stuff.

[seven4smoke]

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

The main reason is country need to protect their currency.

the 2nd reason is prevent ppl change its currency to btc for laundering.

the 3rd is prevent it use in dark area.

4th is prevent the troublesome as btc cant be control .

Actually it is full ignorance.  If not it is because of the corruption.  Using a cryptocurrency will expose these leaders about the illegal stuff they do themselves.  Being used in money laundering and terrorist is just an excuse.  Even regular fiat currency is heavily exploited in these stuff.

All the officials somehow do things to get profit and thus tricking people or without giving them the opportunity to be independent. Therefore, they will do to become a bitcoin is not legalized.

[Spirit2016]

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.

There wont be any tax difficulties and you must consider bitcoin as an asset ,for example if you are investing in bonds you are not paying tax for the amount in bound but you only pay the tax when you are converting or selling it for cash and that is the case with bitcoin too.

Probably safer bitcoin extract and change at Fiat, and then there will be questions from the outside, although a lot of money you should always explains.

[blackhawkeye1912]

my country is not supporting anything like drugs/bitches
bitcoin is accepted as well in my country so

Really, you are not lucky dude, but you are totally blessed. I wish that my country will also be like your country too, I just can't even imagine how does it feel that is not hard for you to share to co citizens there about in bitcoin. In my country now bitcoin is being accepted a little but not as the level like yours.

[mikecgna]

my country is not supporting anything like drugs/bitches
bitcoin is accepted as well in my country so

Really, you are not lucky dude, but you are totally blessed. I wish that my country will also be like your country too, I just can't even imagine how does it feel that is not hard for you to share to co citizens there about in bitcoin. In my country now bitcoin is being accepted a little but not as the level like yours.

There are even very strange things with the recognition of bitcoin in some countries. I for example, banks are working on blockchain technology, and the government has yet to officially silent.

[Vasu Dev]

As per Wikipedia Articles Why bitcoin is not supported in some countries.
 
The legal status of bitcoin varies substantially from country to country and is still undefined or changing in many of them. While some countries have explicitly allowed its use and trade, others have banned or restricted it. Likewise, various government agencies, departments, and courts have classified bitcoins differently. While this article provides the legal status of bitcoin, regulations and bans that apply to this cryptocurrency likely extend to similar systems as well.
Read here Whole article
https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country

[Meliodasama]

i think because bitcoin would be money laundering
so government judge bitcoin is fraud
 

[d-trixx]

i think because bitcoin would be money laundering
so government judge bitcoin is fraud
 

This is one of the possibilities to use bitcoin in illegal activities, but mostly negative for the government, this tax evasion.

[sourris01]

As per Wikipedia Articles Why bitcoin is not supported in some countries.
 
The legal status of bitcoin varies substantially from country to country and is still undefined or changing in many of them. While some countries have explicitly allowed its use and trade, others have banned or restricted it. Likewise, various government agencies, departments, and courts have classified bitcoins differently. While this article provides the legal status of bitcoin, regulations and bans that apply to this cryptocurrency likely extend to similar systems as well.
Read here Whole article
https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country

It is on the legal level, many countries give rise to unbearable conditions for bitcoin users. But there are special reasons why some governments do just that, pursuing the users and even frightening criminal cases.

[richardsNY]

i think because bitcoin would be money laundering
so government judge bitcoin is fraud
 

This is one of the possibilities to use bitcoin in illegal activities, but mostly negative for the government, this tax evasion.

Negative for the government in that matter doesn't mean they should completely prohibit the use of Bitcoin as regulations would do just fine. It would even help them to locate not yet known holders by forcing through regulations that exchanges and other services will be subject to. Governments forcing through bans simply don't know how to properly put digital currency related regulations into practice. It's pure ignorance.

[agamasrori]

i think because bitcoin would be money laundering
so government judge bitcoin is fraud
 

This is one of the possibilities to use bitcoin in illegal activities, but mostly negative for the government, this tax evasion.

Yes, bitcoin is decentralized, no central bank or government that control it, so it is hard to tax bitcoin but I think bitcoin may rise and fall significantly in a matter of seconds, it is very dependent on market sentiment. I think those countries were worried about unstable price of bitcoin too. I am not too concerned with the government's actions against bitcoin, I still like bitcoin as good for investment.

[Harlot]

i think because bitcoin would be money laundering
so government judge bitcoin is fraud
 

This is one of the possibilities to use bitcoin in illegal activities, but mostly negative for the government, this tax evasion.

Yes, bitcoin is decentralized so no central bank or government that control it. But I think bitcoin is also unique in terms of its value as it may rise and fall significantly in a matter of seconds, it is very dependent on market sentiment. I think those countries were worried about unstable price of bitcoin too. I am not too concerned with the government's actions against bitcoin, I still like bitcoin as good for investment.

I don't think so. Laundering in Bitcoin would be possible but it won't be possible in large amounts. The once concern I am seeing off is that Bitcoin can be used to evade taxes or their real earning would be hidden. Also one big factor I see is that it can decrease the demand of their own local currency/fiat which will result into a price fall of their currency.

[lienfaye]

i think because bitcoin would be money laundering
so government judge bitcoin is fraud
 

This is one of the possibilities to use bitcoin in illegal activities, but mostly negative for the government, this tax evasion.

Yeah they will put tax on it if they recognize bitcoin as currency, i heard our government are starting to recognize bitcoin as payment system but im not sure if the source are reliable.

[Bitcoin0916]

i think because bitcoin would be money laundering
so government judge bitcoin is fraud
 

This is one of the possibilities to use bitcoin in illegal activities, but mostly negative for the government, this tax evasion.

Yeah they will put tax on it if they recognize bitcoin as currency, i heard our government are starting to recognize bitcoin as payment system but im not sure if the source are reliable.

I think this is very difficult, bitcoin maybe will be alternative payments not as currency. The most fundamental thing is because of the bitcoin can not be controlled. Very risky if the Government using bitcoin as a legitimate payment, because the price could not be fully controlled.