Why bitcoin is not supported in some countries?

[paul gatt]

perhaps this is a remarkable question, myself would be interested to know that, although I understand a certain part of it. perhaps its legality has caused it to be some countries prohibit. Bitcoin is a virtual currency, but it has great value. Therefore, these countries wanted to profit by it, in contrast, when a country does not want to be influenced by Bitcoin, they will ban it

[xIIImaL]

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.

May i know which countries are they. I do not think any countries are accepting as legal currency. US commerce department trying to have a tie up with blockchain. It may successful or not that i don't know but something have tried from US government. You can check this news in reddit and coindesk.

If you anything like this, share the compete info about it, don't simply say they are accepting it.

[Arcteryx]

It may not be supported just doesn't mean the citizens can not still use it.
It only takes a smart phone with both parties and transactions can be done for services and goods to be purchased or sold.
It is a global currency after all. Just not in the global marketplace. Yet.

[Kabul]

It may not be supported just doesn't mean the citizens can not still use it.
It only takes a smart phone with both parties and transactions can be done for services and goods to be purchased or sold.
It is a global currency after all. Just not in the global marketplace. Yet.

there are many countries banning bitcoin permanently such as Thailand. I do not know why Thailand government dislike Bitcoin so much. You should read more news in order to have information. People using Bitcoin in Thailand can be arrested by the police due to the laws. Therefore, be careful while using Bitcoin in this country

[Arcteryx]

It may not be supported just doesn't mean the citizens can not still use it.
It only takes a smart phone with both parties and transactions can be done for services and goods to be purchased or sold.
It is a global currency after all. Just not in the global marketplace. Yet.

there are many countries banning bitcoin permanently such as Thailand. I do not know why Thailand government dislike Bitcoin so much. You should read more news in order to have information. People using Bitcoin in Thailand can be arrested by the police due to the laws. Therefore, be careful while using Bitcoin in this country

Really? Never heard of that before.
So if you are caught doing transactions with it then they can arrest you? But what if they just find it on your phone or something? Do they have the right to take you in just for that?
If they can then that is totally f'ked up there.
Or is it as bad as some places that arrest you just for mining like in Venezuela?
I think they can not arrest you if you are just talking about it. I don't think it has become that bad in those countries or have they?
That sounds like the nazi times of when there were people hiding jews in their homes to not get arrrested just for being a jew.
Sad times right there when it comes to banning for using a currency they have no control over. That's all it comes down too really. Fear of the unknown.

[doomloop]

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

yeah there is many backward countries which do not support bitcoin and i do not think that they punish bitcoin users bitcoin is a digital currency and which is used for online shopping and we can not blame it.

[PeRo]

Bitcoin is not supported by goverment in several countries because they want to control the money and Bitcoin can not be controled because it is decentralized. I do not think that many countries ban Bitcoins and some people use it even if it is banned in their country. You just need internet connection, so it can be used almost everywhere.

[blackhawkeye1912]

I think 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. 

Actually it is only in the mind of a human of how are they gonna interpret what bitcoins is. but bitcoin is use for good purposes only as much as possible. Although bitcoin can be use for legal and illegal activities perhaps that's maybe I think why some of the country bitcoin is not welcome unto it. But in some nations bitcoin is very much welcome like in Australia, China, and Europe.

[Anarchist]

bitcoin is not supported in some countries because of the misconception about cryptocurrency and cryptography. People educated from medias create the fear about bitcoin

[agamasrori]

bitcoin is not supported in some countries because of the misconception about cryptocurrency and cryptography. People educated from medias create the fear about bitcoin

maybe you're right, the news about bitcoin used for illegal transactions indeed drop the name of bitcoin. but if we think positively and use bitcoin bitcoin for the good things that will have a positive impact for mankind. but in my opinion the most important reason may be because the government hard to take taxes from bitcoin.

[Kollor]

That's normal, whenever a thing has a value, it can be used as a tool whether to do good or bad. Media just sensationalize things and exaggerate according to what could catch the attention of their viewer.

I do not see any reason why bitcoin should be supported by the government, permitting the use of it in the country is enough.

[Ashong Salonga]

That's normal, whenever a thing has a value, it can be used as a tool whether to do good or bad. Media just sensationalize things and exaggerate according to what could catch the attention of their viewer.

I do not see any reason why bitcoin should be supported by the government, permitting the use of it in the country is enough.

Anything that has a value can be used for good and bad things, it depends to the people on how the use it. In fact, fiat have more illegal transaction than digital currency callled Bitcoin. Fiat money can be used also for money laundering and doing such illegal transaction, yet it's still anonymous. The anonymity of bitcoin was designed to protect it's users from hackers, no to be used for hiding illegal transactions.

[Gameroid]

It may not be supported just doesn't mean the citizens can not still use it.
It only takes a smart phone with both parties and transactions can be done for services and goods to be purchased or sold.
It is a global currency after all. Just not in the global marketplace. Yet.

there are many countries banning bitcoin permanently such as Thailand. I do not know why Thailand government dislike Bitcoin so much. You should read more news in order to have information. People using Bitcoin in Thailand can be arrested by the police due to the laws. Therefore, be careful while using Bitcoin in this country

i am hearing for the first time that bitcoin is banned in Taiwan. i think bitcoin is not banned anywhere else and i think that if a country has banned it then it then they will be review their decision in future because bitcoin is the future of money and every country must accept the fact about bitcoin .

[ged00u]

It may not be supported just doesn't mean the citizens can not still use it.
It only takes a smart phone with both parties and transactions can be done for services and goods to be purchased or sold.
It is a global currency after all. Just not in the global marketplace. Yet.

there are many countries banning bitcoin permanently such as Thailand. I do not know why Thailand government dislike Bitcoin so much. You should read more news in order to have information. People using Bitcoin in Thailand can be arrested by the police due to the laws. Therefore, be careful while using Bitcoin in this country

i am hearing for the first time that bitcoin is banned in Taiwan. i think bitcoin is not banned anywhere else and i think that if a country has banned it then it then they will be review their decision in future because bitcoin is the future of money and every country must accept the fact about bitcoin .

read the article FYI: https://www.cryptocoinsnews.com/top-10-countries-bitcoin-banned/
There are more than 1 country dislike Bitcoin. You should know about this information because if you use bItcoin in some of those countries, you may be arrested by the cops

[romero121]

It may not be supported just doesn't mean the citizens can not still use it.
It only takes a smart phone with both parties and transactions can be done for services and goods to be purchased or sold.
It is a global currency after all. Just not in the global marketplace. Yet.

there are many countries banning bitcoin permanently such as Thailand. I do not know why Thailand government dislike Bitcoin so much. You should read more news in order to have information. People using Bitcoin in Thailand can be arrested by the police due to the laws. Therefore, be careful while using Bitcoin in this country

i am hearing for the first time that bitcoin is banned in Taiwan. i think bitcoin is not banned anywhere else and i think that if a country has banned it then it then they will be review their decision in future because bitcoin is the future of money and every country must accept the fact about bitcoin .

I too haven't heard of the information that Taiwan has banned bitcoin. In the past Russia is the only country that made a ban on digital currency. Soon the government understood the technology and had initiated plans to implement blockchain in the future financial service providing management.

[deisik]

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 a rational choice after all

If some government decides to officially interfere with Bitcoin (e.g. to outright prohibit), such actions would only make people interested in it, thereby adding to Bitcoin popularity. In many countries, the majority of population are overall hostile to their governments (since ordinary people didn't see anything good from them in the past), and thus negative attitude toward Bitcoin on behalf of authorities will mechanically make Bitcoin positive in the eyes of populace. On the other hand, if Bitcoin dies on its own eventually, governments that chose to ignore it will be proved right

I too haven't heard of the information that Taiwan has banned bitcoin. In the past Russia is the only country that made a ban on digital currency. Soon the government understood the technology and had initiated plans to implement blockchain in the future financial service providing management

Stop spreading misinformation. Bitcoin had never been banned in Russia in the past

[Adelajda]

That's normal, whenever a thing has a value, it can be used as a tool whether to do good or bad. Media just sensationalize things and exaggerate according to what could catch the attention of their viewer.
I do not see any reason why bitcoin should be supported by the government, permitting the use of it in the country is enough.

The government might think that the amount of money flowing out of the country through bitcoin will be huge and it could destabilize the economy and there are several reason that could deter the government to support the use of bitcoin.

[clickerz]

That's normal, whenever a thing has a value, it can be used as a tool whether to do good or bad. Media just sensationalize things and exaggerate according to what could catch the attention of their viewer.
I do not see any reason why bitcoin should be supported by the government, permitting the use of it in the country is enough.

The government might think that the amount of money flowing out of the country through bitcoin will be huge and it could destabilize the economy and there are several reason that could deter the government to support the use of bitcoin.

That is very possible since bitcoin transaction is not taxable. Meaning no income coming into government coffers if bitcoin is used.  Also, it will disrupts the government tax collection if let bitcoin to be used. But still, even if it is banned there are still ways to used bitcoin.

[requester]

may be they think that bitcoin is insecure for their country's economy and may be bitcoin could make the situation worst. so they might have banned bitcoin. or it is anonymous and easy to launder money so this thinking might make them to ban bitcoin.

[deisik]

That's normal, whenever a thing has a value, it can be used as a tool whether to do good or bad. Media just sensationalize things and exaggerate according to what could catch the attention of their viewer.
I do not see any reason why bitcoin should be supported by the government, permitting the use of it in the country is enough.

The government might think that the amount of money flowing out of the country through bitcoin will be huge and it could destabilize the economy and there are several reason that could deter the government to support the use of bitcoin

This assumption doesn't make much sense

It would make sense if governments were highly valuing Bitcoin, at least, as high as they value the US dollar up to the point where they lay themselves out to disallow dollar outflows. But if they don't care about Bitcoin, why should they care about it moving abroad in the first place? After all, it is bitcoins that are moving, not dollars  (i.e. not "real money"). In this way, governments may in fact be quite happy that bitcoins are running away since less bitcoins means less problems for these governments internally (i.e. less competition with local currencies)