Why bitcoin is not supported in some countries?

[KuromaYoichi]

They are afraid of the threat which is tax evasion if their citizens using bitcoin. Tax income is very important source of revenue for the country and by using bitcoin, you can hide your income from the goverment. They want full control over their citizen and bitcoin won't let them do that. And bitcoin can also be used to do illegal activities such as money laundring.

[diegz]

They are afraid of the threat which is tax evasion if their citizens using bitcoin. Tax income is very important source of revenue for the country and by using bitcoin, you can hide your income from the goverment. They want full control over their citizen and bitcoin won't let them do that. And bitcoin can also be used to do illegal activities such as money laundring.

That's not true. When you are using bitcoin, you could only evade your income tax if you are working for it. Aside from that, all your expenditures are taxed. You could not be taxed when you use bitcoin but as you convert it to fiat, tax is included and take note, you have no other choice aside from that to survive. Unless otherwise you want to buy your foods overseas using Bitcoin and pray that it is in good condition when it arrive in your doorstep.

[KuromaYoichi]

They are afraid of the threat which is tax evasion if their citizens using bitcoin. Tax income is very important source of revenue for the country and by using bitcoin, you can hide your income from the goverment. They want full control over their citizen and bitcoin won't let them do that. And bitcoin can also be used to do illegal activities such as money laundring.

That's not true. When you are using bitcoin, you could only evade your income tax if you are working for it. Aside from that, all your expenditures are taxed. You could not be taxed when you use bitcoin but as you convert it to fiat, tax is included and take note, you have no other choice aside from that to survive. Unless otherwise you want to buy your foods overseas using Bitcoin and pray that it is in good condition when it arrive in your doorstep.

That's why they don't support it. If they support it, more people in their country will be aware and start to use bitcoin. More merchant will accept bitcoin and it's harder to tax them if they sell things in bitcoin because the transactions are anonymous. Yes they can tax the exhange, but they can't tax all the bitcoin activities in their country. And the fact that bitcoin can be used to do shady activity add more reason for them to ban bitcoin.

[Holly-Dolly]

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.

Officials in all countries think only of their own advantage, and if they will be distributed bitcoin, it will play against them. They do not want to give people independence.

[FlightyPouch]

A country will be in danger if they accept bitcoin. Its volatility will really crush down a country. Thats why they just cant accept a digital currency without a stable prize. Some stores might accept the currency but not the whole country.

[Orion25]

They are afraid of the threat which is tax evasion if their citizens using bitcoin. Tax income is very important source of revenue for the country and by using bitcoin, you can hide your income from the goverment. They want full control over their citizen and bitcoin won't let them do that. And bitcoin can also be used to do illegal activities such as money laundring.

That's not true. When you are using bitcoin, you could only evade your income tax if you are working for it. Aside from that, all your expenditures are taxed. You could not be taxed when you use bitcoin but as you convert it to fiat, tax is included and take note, you have no other choice aside from that to survive. Unless otherwise you want to buy your foods overseas using Bitcoin and pray that it is in good condition when it arrive in your doorstep.

That's why they don't support it. If they support it, more people in their country will be aware and start to use bitcoin. More merchant will accept bitcoin and it's harder to tax them if they sell things in bitcoin because the transactions are anonymous. Yes they can tax the exhange, but they can't tax all the bitcoin activities in their country. And the fact that bitcoin can be used to do shady activity add more reason for them to ban bitcoin.

Bitcoin is already a lot of what is involved and it is used not only in shady schemes but also in the illegal trade is unique. Thus, serious questions about bitcoin will still be on the agenda.

[farl2web]

A country will be in danger if they accept bitcoin. Its volatility will really crush down a country. Thats why they just cant accept a digital currency without a stable prize. Some stores might accept the currency but not the whole country.

And how these stores can then report and pay taxes. It also should be monitored relevant authorities. So in the case of a unit will not work. Or anywhere or nowhere.

[delliaerd]

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.

Officials in all countries think only of their own advantage, and if they will be distributed bitcoin, it will play against them. They do not want to give people independence.

Well you got good point dude. The government needs to get benefits when they decided to accept bitcoin.

By the way my country also do not accept bitcoin officially, they didn't put any care to this tipe of currency. Even i ever read on internet that relevant authority was prohibited using bitcoin, but I think that is hoax because until now many people who use bitcoin as well in my country. That law is not declared by officials.

[Bellator]

A country will be in danger if they accept bitcoin. Its volatility will really crush down a country. Thats why they just cant accept a digital currency without a stable prize. Some stores might accept the currency but not the whole country.

That's why they don't accept bitcoin. Country will be in danger. Fact because they can't control it, they can't get many tax. Tax is the source of money in our government. So if they use it always than fiat, many tax they can't get. If that happen many projects of the government will not happen, because they have lack of money

[deadpoolx]

With regard to governments, the reason is that this goes against the current model of power in society. Despite this, I do not see many countries prohibiting the use of the currency, they prefer to ignore and not give publicity. Regarding people in general, I think it's still early days. Although many people have access to the internet and many sources of information, they still have not realized the need for a currency to solve the problems that exist in fiat currency.

[KennyR]

With regard to governments, the reason is that this goes against the current model of power in society. Despite this, I do not see many countries prohibiting the use of the currency, they prefer to ignore and not give publicity. Regarding people in general, I think it's still early days. Although many people have access to the internet and many sources of information, they still have not realized the need for a currency to solve the problems that exist in fiat currency.

That's well said. Governments have not promoted realizing its need for growing economy. Very few countries indirectly support in the name of digital growth. This seems to be the start and now we are in the starting period of digital move. So by the further years we gain more support as now its too young for governments to adopt.

[lionheart78]

With regard to governments, the reason is that this goes against the current model of power in society. Despite this, I do not see many countries prohibiting the use of the currency, they prefer to ignore and not give publicity. Regarding people in general, I think it's still early days. Although many people have access to the internet and many sources of information, they still have not realized the need for a currency to solve the problems that exist in fiat currency.

Only a few country banned bitcoin but majority just do not have anything to say about it.  Maybe the main reason is that their citizen Bitcoin user base is not that huge to pay attention nor put a regulation on their local exchanges.  Like way back 2014 Central Bank of the Philippinesissue a warning about Bitcoin but never regulate it.  But once the transaction of Bitcoin in the country became large, they issue a notice that they recognize BTC as payment and at the same time regulate the exchanges about AML and KYC plus the annual report of their Bitcoin transactions.

[shinratensei_]

A country will be in danger if they accept bitcoin. Its volatility will really crush down a country. Thats why they just cant accept a digital currency without a stable prize. Some stores might accept the currency but not the whole country.

The volatility of bitcoin will never be impacting the countries, they accept bitcoin and it's not mean if the country tries to changing all of their financial systems with bitcoin. they just give a permission for bitcoin to be a legal payment on its country. or everyone will be available to use it.

[blackhawkeye1912]

Still many countries don't have complete about bitcoin technology and even din't ban bitcoin in their country yet. Still they are in problem how to recognize bitcoin and how it is beneficial for them. Even they like the bitcoin technology but bitcoin is not complete depended currency.

Honestly, they're not struggling on how to recognise bitcoin but they just don't interested to bitcoin due to low users in their country and they must've known how bitcoin is beneficial for them but as I've stated, too low users and probably too risky. Bitcoin technology is indeed such an innovative thing and interesting but bitcoin must've met the requirements above to attract the government.

But if the government of each nation they see's that their citizens are become aggressive  in the acceptance of bitcoin, I mean massively accepted by the masses it will surely they will adapt and support bitcoin at once.

[NEWGOODOUBLE]

Still many countries don't have complete about bitcoin technology and even din't ban bitcoin in their country yet. Still they are in problem how to recognize bitcoin and how it is beneficial for them. Even they like the bitcoin technology but bitcoin is not complete depended currency.

Honestly, they're not struggling on how to recognise bitcoin but they just don't interested to bitcoin due to low users in their country and they must've known how bitcoin is beneficial for them but as I've stated, too low users and probably too risky. Bitcoin technology is indeed such an innovative thing and interesting but bitcoin must've met the requirements above to attract the government.

But if the government of each nation they see's that their citizens are become aggressive  in the acceptance of bitcoin, I mean massively accepted by the masses it will surely they will adapt and support bitcoin at once.

may be. but the government would always stand up for what they think is correct as maintain their local currency from the threat of bitcoin? one way out is to make bitcoin be able to be controlled

[Wintersoldier]

Still many countries don't have complete about bitcoin technology and even din't ban bitcoin in their country yet. Still they are in problem how to recognize bitcoin and how it is beneficial for them. Even they like the bitcoin technology but bitcoin is not complete depended currency.

Honestly, they're not struggling on how to recognise bitcoin but they just don't interested to bitcoin due to low users in their country and they must've known how bitcoin is beneficial for them but as I've stated, too low users and probably too risky. Bitcoin technology is indeed such an innovative thing and interesting but bitcoin must've met the requirements above to attract the government.

But if the government of each nation they see's that their citizens are become aggressive  in the acceptance of bitcoin, I mean massively accepted by the masses it will surely they will adapt and support bitcoin at once.

may be. but the government would always stand up for what they think is correct as maintain their local currency from the threat of bitcoin? one way out is to make bitcoin be able to be controlled

In my opinion, the reason why some government don't support bitcoin is because it's still under review. Usually, to make a currency as an official mode of transaction, it took years commonly. However, I believe they would be approve Bitcoin and hoping that they would support it. It's not only significant for every peeople in a country but it's also significant to the government.

[Jannn]

A country will be in danger if they accept bitcoin. Its volatility will really crush down a country. Thats why they just cant accept a digital currency without a stable prize. Some stores might accept the currency but not the whole country.

I don't thinks so.
Some countries and government benefit Bitcoin by including taxes from the exchanges.

[izanagi narukami]

A country will be in danger if they accept bitcoin. Its volatility will really crush down a country. Thats why they just cant accept a digital currency without a stable prize. Some stores might accept the currency but not the whole country.

I don't thinks so.
Some countries and government benefit Bitcoin by including taxes from the exchanges.

Unfortunately my goverment have different view and decide to forbid bitcoin usage ( for safety purpose )
IMO, if my goverment accept bitcoin, it will impact on bitcoin value and increase bitcoin transaction worldwide

[TastyChillySauce00]

A country will be in danger if they accept bitcoin. Its volatility will really crush down a country. Thats why they just cant accept a digital currency without a stable prize. Some stores might accept the currency but not the whole country.

I don't thinks so.
Some countries and government benefit Bitcoin by including taxes from the exchanges.

The benefits they could get from the taxes which charged to the exchanges aren't worth with the possibility of money laundering and many crimes that they said it's basically what bitcoin was used for, which is definitely wrong.
If they keep on trusting that bitcoin is the source of crimes then it's just a dream for them to accept bitcoin as a whole.

[Slow death]

But if the government of each nation they see's that their citizens are become aggressive  in the acceptance of bitcoin, I mean massively accepted by the masses it will surely they will adapt and support bitcoin at once.

I have a different opinion, many countries do everything to make their people poor.

why?

Because the people who are in power in these countries have formed an elite of rich people and do not want to lose that power.

If all people are wealthy there will be a balance of power, the opposition will become strong, people will become schooled and have the financial power to change a lot.

Bitcoin has the power to give people freedom and this becomes a problem for many governments