Why bitcoin is not supported in some countries?

[severaldetails]

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)

Maybe the government thinks that if people buy bitcoin with the local fiat, there is more fiat on the market.
And that would lead to a bigger inflation rate.
But honestly I think it's more the fact that a transaction from one wallet to another wallet can not be taxed.
And if taxes are not payed, that is something a government does not like.
So the main reason why some goverments do not like it at all is because it's beyond their controle.

[ether19]

Many of the reason as to why some countries don't support bitcoin is mainly because the Government fears that they will lose the control over the money supply as well as of the economy. They control everyone in the country by control the money supply. and bitcoin tries to break this control of the state.

[OliynyK]

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)

Maybe the government thinks that if people buy bitcoin with the local fiat, there is more fiat on the market.
And that would lead to a bigger inflation rate.
But honestly I think it's more the fact that a transaction from one wallet to another wallet can not be taxed.
And if taxes are not payed, that is something a government does not like.
So the main reason why some goverments do not like it at all is because it's beyond their controle.

Inflation is a real concern for any government and that is the main reason China started its first steps to curb the inflation that could happen if more people are purchasing bitcoin and the outflow of the currency could not the controlled by the government.

[zeze18]

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

indeed in some countries prohibit the presence and use bitcoin I think government regulation in this country is not wise to prohibit the existence of bitcoin, because bitcoin never damage the economy of a country, but rather the existence of bitcoin could help the country's economy, many business opportunities created by the existence of bitcoin

[CoinFoxs]

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.

Exactly they may think that if they allow bitcoin in their country's market then bitcoin might replace their national currency and due to this their economy disturbs. And there is one reason more which is bitcoin is decentralized, no central power who controls bitcoin, it might be the reason of banning bitcoin in their country.

[mikecgna]

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.

Exactly they may think that if they allow bitcoin in their country's market then bitcoin might replace their national currency and due to this their economy disturbs. And there is one reason more which is bitcoin is decentralized, no central power who controls bitcoin, it might be the reason of banning bitcoin in their country.

Bitcoin temporary ban. If only the authorities will learn to control the bitcoin and levy taxes on income users, the bitcoin receive legal possibilities, just I do not know how it all like users.

[TastyChillySauce00]

Many of the reason as to why some countries don't support bitcoin is mainly because the Government fears that they will lose the control over the money supply as well as of the economy. They control everyone in the country by control the money supply. and bitcoin tries to break this control of the state.

They could just make bitcoin as a secondary currency or just consider bitcoin as tools to transfer money. There's no point of fearing something that they can actually control easily just by limiting its power in the government.
The fact that they're still thinking that bitcoin is the source of criminalities make them don't have intention to accept its existence.

[asuryan180]

Because it is considered as something "scary",or even something that the politicians are afraid of because it may disrupt the system we are involved in right now.The truth is that either people aren't willing to indulge in a so called experiment with something new or they see the potential and they want everything to remain the same

[diegz]

Because it is considered as something "scary",or even something that the politicians are afraid of because it may disrupt the system we are involved in right now.The truth is that either people aren't willing to indulge in a so called experiment with something new or they see the potential and they want everything to remain the same

I do not see it like that. They are not scare about the use of bitcoin. They might not be thinking about bitcoin and probably they heard about it but they don't care. Most probably, at first, they do not see bitcoin as a currency.

I think it's just fine, as long as no one is planning to ban it then who cares if countries don't support bitcoin.

[poplolnman]

Many of the reason as to why some countries don't support bitcoin is mainly because the Government fears that they will lose the control over the money supply as well as of the economy. They control everyone in the country by control the money supply. and bitcoin tries to break this control of the state.

They could just make bitcoin as a secondary currency or just consider bitcoin as tools to transfer money. There's no point of fearing something that they can actually control easily just by limiting its power in the government.
The fact that they're still thinking that bitcoin is the source of criminalities make them don't have intention to accept its existence.

no , bitcoin are decentralized , it's uncontrollable. government who take action against bitcoin would have a tough condition in the future when a lot of country have been decide to accepting a new technology like bitcoin but then the opposition (who against bitcoin before) even struggle to accept the fact that the world has moving forward. let's see what would happened later in the future.

[Ocytrem]

These countries don't accept the Bitcoin because of the rules they have in that country.
But I think that these countries will eventually support the Bitcoin because many other countries accept it. And maybe they have to see how good the Bitcoin is to change their mind

[Xenophoto]

Many of the reason as to why some countries don't support bitcoin is mainly because the Government fears that they will lose the control over the money supply as well as of the economy. They control everyone in the country by control the money supply. and bitcoin tries to break this control of the state.

They could just make bitcoin as a secondary currency or just consider bitcoin as tools to transfer money. There's no point of fearing something that they can actually control easily just by limiting its power in the government.
The fact that they're still thinking that bitcoin is the source of criminalities make them don't have intention to accept its existence.

How do you think the government be able to put limit on bitcoin users when bitcoin is all about freedom? Before a certain country prohibits something, it studies all the aspects of that certain thing first. They probably found that if someone gets exposed on using bitcoins a lot, he will depend less and less on fiat. That's something you don't want if you're from the government because what you'd want is to collect as much tax as possible. Bitcoin users don't pay tax at all when buying things online.

The smarter play will always be to ban bitcoins at a really early stage so people will not explore it because if they do, they'd realize that they've been a fiat slave for so long. When fiat's been prohibited in your country for a long time, you'd probably never hear it from the word of mouth. You can read it online but most of us don't stay online for hours and spend time looking for interesting articles.

[onrise]

Countries which does not support or support less cyptocurrency is due to that uncontrollable and untraceable feature of bitcoin. Government wants under their purview and should come under their regulatory body and must be traceable.

[agustina2]

These countries don't accept the Bitcoin because of the rules they have in that country.
But I think that these countries will eventually support the Bitcoin because many other countries accept it. And maybe they have to see how good the Bitcoin is to change their mind

They already knows the benefits that bitcoin can bring. It's just that they care more for those loopholes associated if they will accept this currency. One hole is the possible money fraud activity which needs a deep investigation before it can traced the money loss. Another one is the decentralized thing in bitcoin since centralizing bitcoin exchanges is not enough to make room for regulations for those user who will use bitcoin. Plus there are many more.

Making regulations in bitcoin is not that easy and never be will applicable by all of the countries due to the fact that every state have different views about the positive and negative things that a cryptocurrency will give.

[iram3130]

Countries which does not support or support less cyptocurrency is due to that uncontrollable and untraceable feature of bitcoin. Government wants under their purview and should come under their regulatory body and must be traceable.

Countries can only regularize Bitcoin but they cannot ban it. There is only one thing which is necessary to use Bitcoin and that is internet. So the only country where people are not able to use Bitcoin is North Korea.
Governments always try to hold and manipulate the currency according their profit but as Bitcoin is decentralized, no one can do that. It's the major advantage with Bitcoin.

[malekbaba]

Many countries even do not understand the basic of bitcoin. So they avoid it. In my place I have seen that people invest in new thing, as they are greedy, without knowing the business. What if a gropu of people start to promote hoax and sell btc at $2k per coin in a place where people have zero idea about btc. Some of the people will buy btc and what later ? They will face a great crisis. That is a real reason why some of the countries still avoid BTC. It is a safety  measure or precaution

[deisik]

The smarter play will always be to ban bitcoins at a really early stage so people will not explore it because if they do, they'd realize that they've been a fiat slave for so long. When fiat's been prohibited in your country for a long time, you'd probably never hear it from the word of mouth. You can read it online but most of us don't stay online for hours and spend time looking for interesting articles

I tend to disagree with that

As to me, banning Bitcoin at an early stage, when it is yet virtually unknown to wide masses of population, would be counterproductive, especially if you can't force this ban in real life (remember, you should never forbid what you lack the power to prevent). If you are going to ban Bitcoin, you will have to publicize this ban which would only attract the attention of ordinary people (something which you most likely don't want). But since you essentially can't prevent folks from using Bitcoin, you will certainly end up where you don't expect to be. Most governments already know that, so they mostly choose the policy of ignoring Bitcoin altogether (as if it didn't exist at all)

[whizter]

These countries don't accept the Bitcoin because of the rules they have in that country.
But I think that these countries will eventually support the Bitcoin because many other countries accept it. And maybe they have to see how good the Bitcoin is to change their mind

currently i personally do not know about any country who are banning bitcoin, i think bitcoin is still using in all the countries of the world and still no government is taking any action against bitcoin they are just silent and therefore we are expecting that governments will take good again about bitcoin, hope that their decision will be in favour of bitcoin.

[BitcoinGirl.Club]

Allowing the use of bitcoin in a country can affect the money supply as demand for fiat could require more notes printed likely to cause inflation and straining of the central bank. Making it difficult to trace any illegal activities such as money laundering.

[deisik]

Allowing the use of bitcoin in a country can affect the money supply as demand for fiat could require more notes printed likely to cause inflation and straining of the central bank. Making it difficult to trace any illegal activities such as money laundering.

This is what weakest governments are afraid of

Though you certainly misinterpret it in a perverse way. If Bitcoin is allowed (or just gets wide traction without government interference or approval), it would in reality cause the demand for fiat to contract. But since the amount of money already circulating in the economy cannot be diminished quickly, that will cause inflation because there would be too many notes in circulation. Bitcoin will grab some part of the economy that fiat money mediates and that will leave the same amount of fiat servicing the remaining smaller part of the economy