Why bitcoin is not supported in some countries?

[blackhawkeye1912]

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

Actually its the usual things happen in the other country, badluck to you because your country is not very much open into bitcoin but I think that's only for now. Becasue Russia and China they banned bitcoin before then in a long run they revoke their laws about in bitcoins and now there one the bitcoin whaler investors in the entire world.

[iqlimasyadiqa]

yes I agree that bitcoin can't be controlled by the goverment, so they are not support yet in some country
but I heard that Japan is already accept and support bitcoin in their countries.

but i think the main reason can be that bitcoin is yet not so much introduce in some countries and that is why people there do not accept bitcoin. i think if they are properly introduce then they will certainly accept bitcoin and will also use bitcoin for trading and investment.

in fact there are still many countries that fear of the use of bitcoin. they worried that bitcoin could undermine economic stability in their country. and we know now that bitcoin is able to prosper payment media users.

[shinratensei_]

Because bitcoin could break their laws. Because bitcoin can cause a lot of trouble if they allow bitcoin to use. Bitcoin can use for crimes like money laundering, scamming or even use for ransom. Have you heard about ransom ware? As technology is evolving. Crime is also evolving. And its bad if terrorist use bitcoin for buying equipments to make terror to people

Meaning, they are afraid of what bitcoin can do to their country? Maybe in terms of using bitcoin in illegal activities like what you had mentioned. That would depend I think for the people who will use bitcoin.

The main problem is in the regulation. The government admit the currency with legal aspects. Some of the potentially of bitcoin to be using for the illegal activities is reasonable too. And i think in every country there are some legal aspects about the legitimate currency in his environment.

[Dimelord]

Most countries fear that bitcoin would be mainly used for illegal products like drugs and for money laundering.They think that bitcoin usage would reduce their currency usage.They fear of losing their revenues which they get from taxes.In bangladesh,if anyone found using bitcoins, they would be jailed.But whatever measures taken, bitcoin cannot be fully banned since its not possible to ban internet.

[wahb]

yes I agree that bitcoin can't be controlled by the goverment, so they are not support yet in some country
but I heard that Japan is already accept and support bitcoin in their countries.

yes it is not under the control of government and therefore government is not interested to turn bitcoin as legal currency. i think it will still take some more time when the government will solve all the important issues related to bitcoin and then they can think about regulating bitcoin and legalizing it.

[CoinFoxs]

yes I agree that bitcoin can't be controlled by the goverment, so they are not support yet in some country
but I heard that Japan is already accept and support bitcoin in their countries.

Most of the people use bitcoin for illegal activities because it is decentralized currency, no central power is there to control bitcoin that's why some countries fear to accept bitcoin because they don't have control on bitcoin and they don't get benefits from bitcoin due to decentralization.

[hoian0809]

yes I agree that bitcoin can't be controlled by the goverment, so they are not support yet in some country
but I heard that Japan is already accept and support bitcoin in their countries.

Most of the people use bitcoin for illegal activities because it is decentralized currency, no central power is there to control bitcoin that's why some countries fear to accept bitcoin because they don't have control on bitcoin and they don't get benefits from bitcoin due to decentralization.

The lack of regulations, and the risk averse nature of banking institutions are responsible for difficulties associated with Bitcoin businesses.

[kidoseagle0312]

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

It's good for you that in your country bitcoin is almost accepted, probably it is because they saw the edges of bitcoin that once they use the concept features of it into their economy it  will surely help them to resolve their economy crisis problem via bitcoin for sure. Aside from that if they're gonna make a law about using bitcoin to mandate their citizens to use it that is pretty much good if that happen. But in other nations bitcoin still not welcome and supported.

[BitcoinPC]

yes I agree that bitcoin can't be controlled by the goverment, so they are not support yet in some country
but I heard that Japan is already accept and support bitcoin in their countries.

If some countries not support the bitcoin, So its mean their government not help to promote the bitcoin, but if their government help to promote the bitcoin in their country, so it will be useful for their people.
But it is other talk, but i want to tell bitcoin is still use in all over the world, because if any country not support the bitcoin than they also not banned the bitcoin. It is our choice to use the bitcoin or not.

[Ravion]

Most countries fear that bitcoin would be mainly used for illegal products like drugs and for money laundering.They think that bitcoin usage would reduce their currency usage.They fear of losing their revenues which they get from taxes.In bangladesh,if anyone found using bitcoins, they would be jailed.But whatever measures taken, bitcoin cannot be fully banned since its not possible to ban internet.

There are only just a few countries that are officially supporting Bitcoin. Most other countries are just ignoring it, and there are a few countries that don't want it to be used at all. Even in China, which is now the center of the Bitcoin mining industry; The Chinese government allows people to use Bitcoin but it has banned banks and hedge funds from using it.
In many countries, governments want to control the use of money very strictly. They know that Bitcoin can be used for tax evasion and also for money laundering, but some just don't like there to be such an anonymous form of payment. There are even some governments that know that the future of money is digital and, when they issue their own digital currency in the future, they don't want it to be competing with Bitcoin.

[Mumbeeptind1963]

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

because there are different rules and regulation in every countries. they have the cyber law and they can even blocked any sites they want because  authorities can hold everything in their countries if they want. example is in china and in north korea.

[Kotone]

It almost all countries are now accepting and supporting bitcoin for the sake of other wants there are regulations that bitcoin is own their opinoin governments think that this digital currency can destroy their economics and other things in here bitcoin are fully support by my country also banks.

[pinggoki]

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

because there are different rules and regulation in every countries. they have the cyber law and they can even blocked any sites they want because  authorities can hold everything in their countries if they want. example is in china and in north korea.

Precisely, there are different rules on every each country and yet everyone of us have different perception about bitcoin.
I think the reason why the bitcoin is prohibited in their country is because they though that the bitcoin is used by criminals because it is anonymous.

[DoublerHunter]

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

because there are different rules and regulation in every countries. they have the cyber law and they can even blocked any sites they want because  authorities can hold everything in their countries if they want. example is in china and in north korea.

Precisely, there are different rules on every each country and yet everyone of us have different perception about bitcoin.
I think the reason why the bitcoin is prohibited in their country is because they though that the bitcoin is used by criminals because it is anonymous.

That is the common reason of the countries that banned bitcoin because they can't deal with the anonymity of bitcoin and they thinks that it is a bad idea for them because only the criminals will take benefit of that. But they didn't know that they can control those illegal transactions by having blockchain technology in their country because they can monitor the transaction thru that.

[grizman]

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

because there are different rules and regulation in every countries. they have the cyber law and they can even blocked any sites they want because  authorities can hold everything in their countries if they want. example is in china and in north korea.

Precisely, there are different rules on every each country and yet everyone of us have different perception about bitcoin.
I think the reason why the bitcoin is prohibited in their country is because they though that the bitcoin is used by criminals because it is anonymous.

That is the common reason of the countries that banned bitcoin because they can't deal with the anonymity of bitcoin and they thinks that it is a bad idea for them because only the criminals will take benefit of that. But they didn't know that they can control those illegal transactions by having blockchain technology in their country because they can monitor the transaction thru that.

Do not recognize the bitcoins, mainly those countries where a very weak economic system. The government thinks that because of the popularity of bitcoin, the economic situation is getting worse. Fiat will lose popularity, and therefore the government will lose control of the people.

[Vaskiy]

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

because there are different rules and regulation in every countries. they have the cyber law and they can even blocked any sites they want because  authorities can hold everything in their countries if they want. example is in china and in north korea.

Based on the regulations and laws in every country the acceptance and usage of bitcoin varies. There are few countries that doesn't concern about it, few accept it​ an technology advancement and tries to make use of it in financial structure but not as a currency. So different countries have  different reasons for not accepting bitcoin into their country.

[AK47-]

There are many reason a country will ban bitcoin. Anonymity is one of them. Bitcoin can be easily used in some criminal activities but so does fiat. Moreover, no country would like their money to go out of their country. With bitcoin you can transfer huge chunk of money out of your country to anyone in the whole world.

[izanagi narukami]

There are many reason a country will ban bitcoin. Anonymity is one of them. Bitcoin can be easily used in some criminal activities but so does fiat. Moreover, no country would like their money to go out of their country. With bitcoin you can transfer huge chunk of money out of your country to anyone in the whole world.

They can send their money with anonymously when they using bitcoin as their transaction.
But I'm wonder if some country forbid bitcoin because of that excuse , my question is why some EU country legalize bitcoin  ?
Do they not fear that hidden criminal that use bitcoin will getting grow and will start their action on the future ?

[doomloop]

It almost all countries are now accepting and supporting bitcoin for the sake of other wants there are regulations that bitcoin is own their opinoin governments think that this digital currency can destroy their economics and other things in here bitcoin are fully support by my country also banks.

I think you are right that bitcoin is now supporting and adopting everyone because it is the currency of advace world and with the passage of time it's demand is constantly increasing in online world .so I think it will one day support by everyone.

[jak3]

Some country has Strictly Rusticated Bitcoin in their countries because of many reasons. That can be because government can not control bitcoin , they can not implement taxation in it, people gets scammed easily with bitcoin(as because they have less knowledge about it) and so on. And in addition if you do not know what your mining machine is doing then you should research it. They are basically solving Network blocks with the hash power it generates