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Author Topic: Why bitcoin is not supported in some countries?  (Read 98431 times)
LeGaulois
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April 21, 2017, 09:14:14 PM
 #681

It looks like deep inside most countries don't want Bitcoin to survive

Maybe, with only a few exceptions such as Switzerland which seems to be pretty loyal to Bitcoin, but that's not surprising since Swiss gnomes always loved gold and Bitcoin is not very far from it given its limited supply. Right now Bitcoin is no threat to the majority of currencies, so most governments prefer to either ignore it or don't reveal their true attitude toward Bitcoin and declare their neutral stance in public. But when it starts used for real (personally, I expect that it will happen when instant transactions finally come about), they will have to act and we may not quite like their actions

It depends how you see it, Bitcoin is not a threat to the majority of currencies but it can be for the market maybe? Directly or not... Like you said for 'the majority of currencies' so there are exceptions to this. Governments that prefer to not reveal their position about Bitcoin can also be the same reason. Let's imagine one of the top country in Europe suddently publish "Yes to Bitcoin, Go Bitcoin", I can smell the next day a panic movment in the banking industry with the help of Brussels and the medias. So for safety (their own yes) it may be better to not say anything right now.

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April 21, 2017, 09:22:24 PM
 #682

The main reason is that the big banks of those countries can't control it, so they buy government support against it.

We can't just think like that everytime, many banks and governemts accepted bitcoin even with the fact that they can't control the digital currency. And why will they buy the governemnt, if you think of it, it is the opposite. We can't think negatively of the people sitting there, if they don't accept bitcoin, someone will ask the and they will just answer the question based on their action.
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April 21, 2017, 09:25:03 PM
 #683

Is internet not supported in any country excluding North Korea?

What do you mean the county which bitcoin is not supported. If you have internet connection, you have bitcoin. You don't need an permission.
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April 21, 2017, 09:40:10 PM
 #684

Is internet not supported in any country excluding North Korea?

What do you mean the county which bitcoin is not supported. If you have internet connection, you have bitcoin. You don't need an permission.
By this question, I think he meant that the government doesn't accept bitcoin like a currency by using it in paying bills and shopping in real shop and restaurants etc..
So, Recently i hear that japan allow using bitcoin. I think this is a good idea for them.
Anyways, everyone can use bitcoin and control it as he want. converting it in fiat or use it as a degital currency, There is no problems.

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April 21, 2017, 09:44:56 PM
 #685

Is internet not supported in any country excluding North Korea?

What do you mean the county which bitcoin is not supported. If you have internet connection, you have bitcoin. You don't need an permission.
By this question, I think he meant that the government doesn't accept bitcoin like a currency by using it in paying bills and shopping in real shop and restaurants etc..
So, Recently i hear that japan allow using bitcoin. I think this is a good idea for them.
Anyways, everyone can use bitcoin and control it as he want. converting it in fiat or use it as a degital currency, There is no problems.

So you better ask the question as "What are the countries allow bitcoin?"
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April 21, 2017, 09:53:13 PM
 #686

The question you asked is wrong it should have been why bitcoin is accepted in some countries only. The reason why many countries haven't adopted bitcoin is because the time taken for bitcoin to atleast get 1 confirmation takes lot's of time. Second the countries may not like the ideology of decentralised currency. Third maybe the internet connection isn't good in that specific country so this may lead to extra waiting.
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April 21, 2017, 10:29:53 PM
Last edit: April 22, 2017, 07:45:42 PM by deisik
 #687

The question you asked is wrong it should have been why bitcoin is accepted in some countries only. The reason why many countries haven't adopted bitcoin is because the time taken for bitcoin to atleast get 1 confirmation takes lot's of time. Second the countries may not like the ideology of decentralised currency. Third maybe the internet connection isn't good in that specific country so this may lead to extra waiting

As to me, there is only one major reason

That is, why most countries aren't going to adopt Bitcoin any time soon as a sort of complementary currency. This reason is pretty simple, they just don't want competition with their local currency. In most countries the circulation of any other currency (which would be called foreign) is rather limited and usually frowned upon if it exceeds certain limits. Some countries even directly prohibit or prohibited in the past the circulation of a foreign currency (say, the US dollar) like Russia did in the early 1990's after the dollar had begun crowding out the Russian ruble when the latter basically stopped being money due to severe hyperinflation back then

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April 22, 2017, 12:50:46 AM
 #688

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.
Although the government forbids and avoids the bitcoin it will not make you unable to use bitcoin. Because bitcoin is online and you can use it anytime. Bitcoin support in all countries if you have internet
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April 22, 2017, 04:10:21 AM
 #689

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.
Although the government forbids and avoids the bitcoin it will not make you unable to use bitcoin. Because bitcoin is online and you can use it anytime. Bitcoin support in all countries if you have internet


If I make a conclusion from all countries, which prohibits the use of very little bitcoin, most just do not recognize as legal tender, for me that's not a problem at all, I think the government is not afraid because the nature of bitcoin anonymous or widely used in illicit trade transactions, But because they haven't been able to draft regulation for bitcoin, or the government is not ready to apply this technology for now.

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April 22, 2017, 04:36:39 AM
 #690

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.
Although the government forbids and avoids the bitcoin it will not make you unable to use bitcoin. Because bitcoin is online and you can use it anytime. Bitcoin support in all countries if you have internet


If I make a conclusion from all countries, which prohibits the use of very little bitcoin, most just do not recognize as legal tender, for me that's not a problem at all, I think the government is not afraid because the nature of bitcoin anonymous or widely used in illicit trade transactions, But because they haven't been able to draft regulation for bitcoin, or the government is not ready to apply this technology for now.
the line that " if you can access the internet then you can handle bitcoin " totally wrong , what Happ if you lives in that country where bitcoin is banned ,.You can make any money even you can earn BTC , but you can't sell and through doller to Fiat will charge more fee .
The second thing that bitcoin is a main part of the payment systems without tax , so here countries government are not able to get tax for such Transaction , due to.this reason of no control over tax in bitcoin , the government of every countries are not supporting bitcoin .

But now most of countries are not looking to ban , they are planning to make some rules of taxtation for the use of the bitcoin .

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April 22, 2017, 04:42:49 AM
 #691

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 believe that bitcoins will be used for buying drugs and other illegal activities.They also fear that they would lose their tax revenues.So they think bitcoin as a rival to them.
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April 22, 2017, 05:07:01 AM
 #692

Because bitcoin threatens the status of paper money in my country.Bitcoin is not controlled by any person or any government,also bitcoin is always used for illegal activities,so the government banned it.



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April 22, 2017, 06:02:51 AM
 #693

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

its because of the country law in each country, we cannot change that because we wanted and because we want to earn. just follow the rules and the money is always there.

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April 22, 2017, 06:05:56 AM
 #694

Because bitcoin threatens the status of paper money in my country.Bitcoin is not controlled by any person or any government,also bitcoin is always used for illegal activities,so the government banned it.




It doesn't threat the paper money, it's been considered as a threat to the paper money by the government's. This is completely wrong and in few Countries when bitcoin usage increased the local fiat value went down. This too was considered as a threat and in such a way each country have different reasons to oppose bitcoin.

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April 22, 2017, 06:20:20 AM
 #695

Because bitcoin threatens the status of paper money in my country.Bitcoin is not controlled by any person or any government,also bitcoin is always used for illegal activities,so the government banned it.
It not actually threatens the paper money .The government will wont allow this to happen to replace the paper money.
Bitcoins will remains as other form of payment online ,a digital currency and with that advantage the disadvantage on paper money is having tax unlike bitcoins with no tax so the government have no control over bitcoins. Illegal activities or transactions is not a big deal for them to banned it .The only main reason is the control of currency by which government use to earn from our taxes.

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April 22, 2017, 07:59:48 AM
 #696

Because bitcoin threatens the status of paper money in my country.Bitcoin is not controlled by any person or any government,also bitcoin is always used for illegal activities,so the government banned it.
It not actually threatens the paper money .The government will wont allow this to happen to replace the paper money.
Bitcoins will remains as other form of payment online ,a digital currency and with that advantage the disadvantage on paper money is having tax unlike bitcoins with no tax so the government have no control over bitcoins. Illegal activities or transactions is not a big deal for them to banned it .The only main reason is the control of currency by which government use to earn from our taxes.
That's right, the paper money won't be threatened that easily due to the existence of bitcoin in some specific country as long as the government only consider bitcoin as an alternate currency instead of the main ones.
Though, your statement which said that the advantage of a digital currency which have no tax is really wrong, you're not paying the tax even for a cent because the government doesn't recognise and probably unable to recognise your wealth in form of bitcoin, but when your government know what exactly bitcoin is, the taxation will come and thus official regulation will be released.

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April 22, 2017, 08:25:42 AM
 #697

Because bitcoin threatens the status of paper money in my country.Bitcoin is not controlled by any person or any government,also bitcoin is always used for illegal activities,so the government banned it.




There is still no awareness of the person who made bitcoin misuse. But if people do things right then I'm sure bitcoin can easily be accepted by a government. Now our job is to try our best to utilize bitcoin. And try to keep bitcoin away from negative things like criminal acts.
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April 22, 2017, 09:42:22 AM
 #698

Is internet not supported in any country excluding North Korea?

What do you mean the county which bitcoin is not supported. If you have internet connection, you have bitcoin. You don't need an permission.
By this question, I think he meant that the government doesn't accept bitcoin like a currency by using it in paying bills and shopping in real shop and restaurants etc..
So, Recently i hear that japan allow using bitcoin. I think this is a good idea for them.
Anyways, everyone can use bitcoin and control it as he want. converting it in fiat or use it as a degital currency, There is no problems.

So you better ask the question as "What are the countries allow bitcoin?"
I think allow does not mean legalize and adopt bitcoin. But the Japanese government gives freedom to anyone to use bitcoin. But bitcoin is outside the authority of the government. If something happens
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April 22, 2017, 09:47:46 AM
 #699

Because bitcoin threatens the status of paper money in my country.Bitcoin is not controlled by any person or any government,also bitcoin is always used for illegal activities,so the government banned it.




There is still no awareness of the person who made bitcoin misuse. But if people do things right then I'm sure bitcoin can easily be accepted by a government. Now our job is to try our best to utilize bitcoin. And try to keep bitcoin away from negative things like criminal acts.

Culprits are in the big position as a president and other ministry ranks in all the Government. They knew about the bitcoin security system. If the bitcoin has been accepted and make as a treasure for the Government.
Then no one will be able to hide the transaction and corrupt via scheme. This is reason why most of the countries where not moving towards bitcoin.
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April 22, 2017, 09:54:09 AM
 #700

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.
Of course all countries will cautions against bitcoin. They all will never accept bitcoin. But you can still use bitcoin freely because the government ban will not make bitcoin lost from the internet
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