Why bitcoin is not supported in some countries?

[Altas]

Many countries strictly against Bitcoin. They have a fear on Bitcoin, thinking that Bitcoin may be used for illegal activities like smuggling and terrorism.   And also it may disturb the economic system of the government. So, many countries banned Bitcoin.     

[Jiyens3]

maybe some country looks bitcoin like criminal , scam , MLM etc so goverment prohibit it

[MeridianMDN]

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'd attribute this to the fear of the unknown.

Governments that are taking a hostile stance toward Bitcoin should take some time to really understand this technology and the benefits it can bring forward.

This notion that Bitcoin will cause the death of fiat currencies is quite incorrect... Bitcoin could, realistically, be looked at as a fiat currency transmission system since it allows people to transmit fiat currencies via the internet in a peer to peer manner.

Hardly likely that a system like this will destroy the fiat system.

this hostile attitude toward bitcoin is due mostly to the fear of the unknown... People are starting to wake up to the possibilities of bitcoin, so maybe we'll begin so see some change in the future

[yellow1]

Because of many reasons like to protect of their of their currency. They afraid of their own currency than the potential of cryptocurrency. Their government are not convinced about bitcoin. But maybe not the government but the country central bank regarding their position on bitcoin. They ban because maybe in the future of the bank. Maybe they have a money to use instead using of currency so that is why they ban in their country.

[Meowth05]

Many countries do not support bitcoin but there are also countries who supported it and have a lot of partnership in that particular country maybe it because of luck of partnership and also there government do not allow it as we all know many government don't allow currency they cannot control.

[Doms]

maybe some country looks bitcoin like criminal , scam , MLM etc so goverment prohibit it

The central banks of countries are independent bodies that determine whether crypto currencies will be beneficial to the population. In my country, the central bank appreciates the fact that there are digital currencies that can help people with their transactions, other than the conventional ways of doing it. They are also doing their own research as to what policies must be set and how it can be best used by the citizens.

[crwth]

The leaders of the country (the countries where bitcoin is considered banned or illegal) have probably didn't understand the possibility of it. Maybe they heard a bad rumor that it's for illegal stuff but it really depends on how you are going to use bitcoin. They are scared that their people can be scammed or something like that.

[aniespresident]

Perhaps the main reason for bitcoin has not been widely recognized by a country is its inaccessibility and desecralization. No one country can control bitcoin even big country like china and US. They just focus on their respective currencies and do not care about the others even they want to destroy other currencies and dominate the world

[clickerz]

The leaders of the country (the countries where bitcoin is considered banned or illegal) have probably didn't understand the possibility of it. Maybe they heard a bad rumor that it's for illegal stuff but it really depends on how you are going to use bitcoin. They are scared that their people can be scammed or something like that.

I think it is an understatement if they think that they didn't understand the possibilities of bitcoin. Some countries did not support ( at this moment) because they are afraid of the implications it will affect in their systems. Also,they can not collect taxes either. But in some countries are slowly accepting bitcoin and even regulationg it.

[doomistake]

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

They have issues about bitcoin, because other people use it in bad ways, like buying illegal drugs online, illegal firearms, and so on. Other people might also using it to supports terrorisr need, since bitcoin users are anonymous, some people have the guts to use it this way. But other countries banned it because they see bitcoin as a threat to them, though it is not.

[hardtime]

I would think Bitcoin wouldn't be accepted in any country based on the simple fact that a country wouldn't want to be giving up control over all the money that is using within their economy, this is the reason that governments impose stringent regulations on Bitcoin all the time in an effort to curb the usage of it on a real scale. At the moment we're a small niche community and I think we haven't been able to break out into the mainstream because the government doesn't want us to.

It's simple, they want control and if Bitcoin was used by people they'd be losing this control in which they love.

maybe some country looks bitcoin like criminal , scam , MLM etc so goverment prohibit it

Nope, they know it's not a scam. They want to be running the show, not a decentralized group of people using an online digital currency.

[iqlimasyadiqa]

Many countries are still cautious to include bitcoins to their financial system. Bitcoin is a digital currency that is easy to experience the price movement in an extream. This is the risk that the government wants to avoid.

[Vaskiy]

Many countries are still cautious to include bitcoins to their financial system. Bitcoin is a digital currency that is easy to experience the price movement in an extream. This is the risk that the government wants to avoid.

What's been mentioned is one of the factor and another major factor is the misunderstanding. They need to realize that it's an revolutionary technology named as blockchain based on the function and bitcoin is the one that has grown successful based on the technology. Need to understand that it's not just a currency it to has got varied usage in various forms starting from finance to production.

[danherbias07]

The leaders of the country (the countries where bitcoin is considered banned or illegal) have probably didn't understand the possibility of it. Maybe they heard a bad rumor that it's for illegal stuff but it really depends on how you are going to use bitcoin. They are scared that their people can be scammed or something like that.

It is not just about that. It is their currency that could be threaten if the people see it could be the future. No paper money means nothing for them to steal. Corruption, that is all the reason they are preventing it.
Problem is the people dont even know it yet and they are doing methods to let it stay that way. People not having knowledge to what is beyond their country's black side.  

[Kasabus]

The leaders of the country (the countries where bitcoin is considered banned or illegal) have probably didn't understand the possibility of it. Maybe they heard a bad rumor that it's for illegal stuff but it really depends on how you are going to use bitcoin. They are scared that their people can be scammed or something like that.

It is not just about that. It is their currency that could be threaten if the people see it could be the future. No paper money means nothing for them to steal. Corruption, that is all the reason they are preventing it.
Problem is the people dont even know it yet and they are doing methods to let it stay that way. People not having knowledge to what is beyond their country's black side.  

If they ban bitcoins that means they do not have the means to mitigate its risk, bitcoin offers the growth of a country as transactions will
be easy which will result to growth in the economy when more business will be establish. It is not only bitcoin that is use in illegal activities,
fiat are used rampantly.

[ankit10]

I hope one day every country accept bitcoin and other altcoin as legal procedure as Japan accepted bitcoin, before accepting bitcoin government have to do many different research and put some rules and regulations to use that, because it can easily USD by terrorist or illegal activities

[Inkdatar]

Maybe the reasons why some countries not supported bitcoin because of less paying taxes, economy will might slow. Anyway, government has some rules to follow thats why they will not giving their support into bitcoin.

[FlightyPouch]

Maybe the reasons why some countries not supported bitcoin because of less paying taxes, economy will might slow. Anyway, government has some rules to follow thats why they will not giving their support into bitcoin.

Yes, bitcoin has less taxes than a normal currency, but saying that it may slow the economy down? That is wrong. Bitcoin helps the economy of a country because it adds more currency in the currency circulation, it means, ore money in the circulation and the GMP of the country is increasing. If you can't understand, think of it like this.

You live in thailand but there are no good jobs there because what you want is in Saudi Arabia, so you go there and work there. The money that you earn there are your children's tuitions, so you send them.back to Thailand, the money that you sent is added in the circulation increasing the GMP, helping the economy stand up.

There are more reason why other countries do not support bitcoin, nit because of it's anonymity and can be used illegally. They have a lot of reasons, related to the government, they treasure their currency that they don't let other currency mix in, the censorship of the internet and some misunderstandings about these digital currency.

[Creepings]

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

They have issues about bitcoin, because other people use it in bad ways, like buying illegal drugs online, illegal firearms, and so on. Other people might also using it to supports terrorisr need, since bitcoin users are anonymous, some people have the guts to use it this way. But other countries banned it because they see bitcoin as a threat to them, though it is not.

The truth is, they did not banned bitcoin because of these reasons, bitcoin is a digital currency and it can be used anonymously,  though not perfectly anonymous, saying that, it has a good trait to be used in these kind of activity, but bitcoin is to be used bu the free will of the people and the government can't stop them from doing so, but I am not saying that doing it is a good thing, I am explaining it that it can't be controlled. They have many reasons to ban bitcoin, for example, Thailand that care for their currency, Korea that is censored to some parts of the internet, there are also some countries that though that it might spark a currency war to them that is why theybare avoiding these digital currency.

[iram3130]

Many countries are still cautious to include bitcoins to their financial system. Bitcoin is a digital currency that is easy to experience the price movement in an extream. This is the risk that the government wants to avoid.

The reputation of the Bitcoin is not that good in third world countries, they think it is used only for gambling or money laundering or other illegal activities. That's why the government hate it and another major factor is that Bitcoin is decentralized and governments don't like what they cannot control.