Why bitcoin is not supported in some countries?

[deisik]

countries , their laws.  It really depends on your definition for not supported too . If we speak about banning then as far as I know I don't think there is a country that actually banned bitcoin ,

There are some few countries that banned bitcoin because of its features that can be abused by the criminals that are using bitcoin like in the underground market where they do illegal activities and pay each other by bitcoin which is an advantage because they can't be traced by the authorities so when the government found out this, they immediately banned bitcoin

They banned it not because of its "features that can be abused by the criminals"

If it really were so, governments would have to ban cash in the first place since it is by far more anonymous than Bitcoin and virtually untraceable unlike Bitcoin. The primary reason behind banning Bitcoin is that governments don't like competition, in fact, they hate it. But Bitcoin hits where it hurts most, right in the heart of a financial system of a state, its money. Weak governments (like that of Venezuela) have highly unstable currencies, so it is no surprise that they sincerely hate Bitcoin with all their soul and heart (if they have them, of course)

[stergium]

Some countries do not support bitcoin. There are many reason such as they have won economic policy on their people. Government can not taking tax who use bitcoin. Bitcoin transaction is hide so it also creat money londaring laundering. Bitcoin can hamper their on economy.

There is no way to tax bitcoin because it is not money, only the moment you convert it to fiat is you are oblige to pay for the taxes, we must understand that to make a good statement. Big countries can tax people who are using bitcoin only if they earn, as it is a general rule that when you make money from a certain transaction, there is a certain percentage due for the government.

Well I disagree if it is not money then it must be a commodity and the government can charge its taxes and stuff by treating it as a commodity like something as usable items and can have a tax on it. Because at the end you need a final transaction with the bank to convert it to the fiat and the government have a chance to charge you at that point.

[carlerha]

Some countries do not support bitcoin. There are many reason such as they have won economic policy on their people. Government can not taking tax who use bitcoin. Bitcoin transaction is hide so it also creat money londaring laundering. Bitcoin can hamper their on economy.

There is no way to tax bitcoin because it is not money, only the moment you convert it to fiat is you are oblige to pay for the taxes, we must understand that to make a good statement. Big countries can tax people who are using bitcoin only if they earn, as it is a general rule that when you make money from a certain transaction, there is a certain percentage due for the government

You seem to be unfamiliar with modern tax systems

If something is not money it doesn't mean that it can't be taxed. To the contrary, it is hard to tax money itself since such taxation goes against the very concept of money, but in respect to what is not money governments can easily tax virtually anything. If Bitcoin is considered as property (or some obscure digital rights as in China), you will have to pay a property tax. Wtf, they can even tax your own self for you being a freelancer or having no children (there is a real tax on childlessness)

I don’t find the taxation being the reason for a country to not to recognize and support the Bitcoin. I think that every country wants to promote its own local currency for the strengthening of the economic situation. Like the US is supporting the US dollar to be the international currency for the trading only because of the reason that the ultimate benefit is to the US.

[leminerale]

Probably for security reasons to access the outside world from the internet from each country. It might also look at the events of the past time when ransomware wannacry invaded and became a dangerous virus for internet users. Of course, each country implements its own regulations in accessing the internet.
Thanks

[gabbie2010]

The value of Bitcoin can fluctuate widely within a short period of time just as it is being witnessed currently, as result bitcoin is not governed by a centralized authority of exchange because it is highly volatile and there are many illegal activities conducted via it's transaction that is why there is a lot of regulations on it and not supported by some countries like iceland, vietnam, bolivia e.t.c.

[deisik]

Some countries do not support bitcoin. There are many reason such as they have won economic policy on their people. Government can not taking tax who use bitcoin. Bitcoin transaction is hide so it also creat money londaring laundering. Bitcoin can hamper their on economy.

There is no way to tax bitcoin because it is not money, only the moment you convert it to fiat is you are oblige to pay for the taxes, we must understand that to make a good statement. Big countries can tax people who are using bitcoin only if they earn, as it is a general rule that when you make money from a certain transaction, there is a certain percentage due for the government

You seem to be unfamiliar with modern tax systems

If something is not money it doesn't mean that it can't be taxed. To the contrary, it is hard to tax money itself since such taxation goes against the very concept of money, but in respect to what is not money governments can easily tax virtually anything. If Bitcoin is considered as property (or some obscure digital rights as in China), you will have to pay a property tax. Wtf, they can even tax your own self for you being a freelancer or having no children (there is a real tax on childlessness)

I don’t find the taxation being the reason for a country to not to recognize and support the Bitcoin. I think that every country wants to promote its own local currency for the strengthening of the economic situation. Like the US is supporting the US dollar to be the international currency for the trading only because of the reason that the ultimate benefit is to the US

I don't think it is that simple

The US is interested in promoting the American dollar simply because the US dollar is at the top of the US exports. Not the dollars themselves but rather the US debt in the form of US treasuries (which are basically as liquid as dollars themselves and thus considered by many as a variety of the US currency as such). If a country is not exporting debt but some real goods, then the government of that country would in fact be interested in lowering the value of its currency at international markets (without importing inflation, of course)

[Ucy]

It's surprising to see people who benefit from Bitcoin in favour of its ban by governments, well that is pure hypocricy to me. I don't earn from jobs am not comfortable with no matter how high the pay may be. People just need to learn to be principled.
As for government banning Bitcoin I doubt that is achievable considering the availability of Proxies & VPN unless they ban Internet altogether.

[Takuul]

There are few countries banned BTC and don't allow their citizens to use it mostly because of the effect on the local currency in exchange for an international one (BTC), Therefore will result in their currency seeing it's actual value compared to other currencies compared to BTC.

[bryant.coleman]

There are few countries banned BTC and don't allow their citizens to use it mostly because of the effect on the local currency in exchange for an international one (BTC), Therefore will result in their currency seeing it's actual value compared to other currencies compared to BTC.

This is a major problem in countries, where the national currency is extremely volatile, such as Venezuela and Argentina. Normally, limits are there regarding the conversion of the national currency to other foreign currencies. But in case of Bitcoin, these limits can't be enforced in most cases, due to the transnational nature of BTC.

[Vikingr]

There are few countries banned BTC and don't allow their citizens to use it mostly because of the effect on the local currency in exchange for an international one (BTC), Therefore will result in their currency seeing it's actual value compared to other currencies compared to BTC.

There is no any harm to any country to any country currency or economy but it will make the economy of countries more stronger. Some of the countries have banned it because they have doubt that due to its anonymity someone will use that currency for their crimes and the government will not be able to trace them.

[deisik]

It's surprising to see people who benefit from Bitcoin in favour of its ban by governments, well that is pure hypocricy to me. I don't earn from jobs am not comfortable with no matter how high the pay may be. People just need to learn to be principled

Typically, people who demand others to be "principled" are the top-notch hypocrites themselves

There are few countries banned BTC and don't allow their citizens to use it mostly because of the effect on the local currency in exchange for an international one (BTC), Therefore will result in their currency seeing it's actual value compared to other currencies compared to BTC.

This is a major problem in countries, where the national currency is extremely volatile, such as Venezuela and Argentina. Normally, limits are there regarding the conversion of the national currency to other foreign currencies. But in case of Bitcoin, these limits can't be enforced in most cases, due to the transnational nature of BTC.

And this promotes an interesting inference

It is obvious that the governments of these countries are either completely incompetent or completely corrupted and rotten (or both of these options). Obviously, they can last long enough if they successfully manage to ban foreign currencies from circulation in their countries. Technically, this can be easily done by controlling banks and money transfers, i.e. prohibiting financial institutions from freely utilizing their foreign currency proceeds if there are any. But Bitcoin is certainly beyond government control, therefore it might heavily undermine such efforts and ultimately lead to government being overthrown (when the economy finally melts down entirely)

[Caelanpelley]

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

Every country has their own laws and thoughts.For different reasons, bitcoin is not available in some countries.
They argue that due to the lack of legal tools, not real money, the risks, crime syndicates and a bitcoin 's unpredictable future.

[conected]

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

Every country has their own laws and thoughts.For different reasons, bitcoin is not available in some countries.
They argue that due to the lack of legal tools, not real money, the risks, crime syndicates and a bitcoin 's unpredictable future.

- Sure, every country has their own policy and strategy, they will do the best for their country, and so if they do not accept bitcoin, that means bitcoin is risky and can affect the economy of their country. The ban Bitcoin is unfair to people living in that country but it would be better to accept bitcoin and face problems that may occur when bitcoin is widely used. However, I believe that in the future, the governments of these countries will change their minds and accept bitcoin but the first condition is that they have to control the bitcoin.

[Warry]

It is probably because of business that's the number one reason why other nations is not supporting bitcoin, They think bitcoin can affect their business economy, consequently they're doing everything in which bitcoin can't enter to their country, maybe it is also a threat for them too.

[Jikalau]

Why bitcoin is not supported in some countries?

I because the country is afraid of the public knows about the money of the future
Where everyone can use in every country.

[Vaskiy]

Now a days the scenario of regretting bitcoin into the country has decreased a lot then the early days. The government fear of various factors starting from the taxation to the economy and other relative factors such as illegal usage and controllability. After Japan's acceptance most countries who were thinking bad of bitcoin and cryptocurrencies have started to create separate teams to analyse how it can be used in a right way to support development.

[deisik]

It is probably because of business that's the number one reason why other nations is not supporting bitcoin, They think bitcoin can affect their business economy, consequently they're doing everything in which bitcoin can't enter to their country, maybe it is also a threat for them too

It is not only that

Though exactly that may be particularly true in respect to countries with weak and incompetent governments like that of Venezuela (the country which literally bathes in crude oil). Apart from that, some governments certainly care that their population (which on the whole may be quite prone to various financial schemes and swindles) wouldn't touch Bitcoin. It's certainly not because they are afraid of Bitcoin or anything to that tune, but simply because they don't want their folks to be deceived by the "get rich fast" thing that general public expects to get with Bitcoin ("the bluebird of success")

[bitbob82]

There are few countries banned BTC and don't allow their citizens to use it mostly because of the effect on the local currency in exchange for an international one (BTC), Therefore will result in their currency seeing it's actual value compared to other currencies compared to BTC.

There is no any harm to any country to any country currency or economy but it will make the economy of countries more stronger. Some of the countries have banned it because they have doubt that due to its anonymity someone will use that currency for their crimes and the government will not be able to trace them.

yes that is right, in fact bitcoin is providing opportunities to the people to  make money. such people who are jobless can also have the opportunity to make some good income from bitcoin. if they have some investment they can really make good profit from it

[andrei56]

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

There is no point wondering if it is fair or not, the most important thing is to always observe the laws in your country if bitcoin is forbidden and the consequences are so bad then it is better that you abstain from holding bitcoin and do something else, it is hard but that is the way it is.

[ocid]

With separate provisions the state has its own law where bitcoin is widely misused for gross transaction purposes such as mapping transactions in a number of countries.
In fact the provisions of the state itself is not to prohibit to use bitcoin because many countries that view bitcoin able to be an alternative transaction tool for doing business, So bitcoin in a country can not be inaugurated.