Why bitcoin is not supported in some countries?

[Savemore]

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 many countries is not yet aware what is bitcoin, what bitcoin can do, what is the importance of the bitcoin and how the bitcoin works.

[crwth]

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 many countries is not yet aware what is bitcoin, what bitcoin can do, what is the importance of the bitcoin and how the bitcoin works.

Well, that's true. Some countries still don't know what it is and what it could do for their government. It's definitely what could improve on making transactions with people and probably have particular transactions with people. It's definitely not fair that you get to jail by just believing in innovation. Little by little, more and more people are trying to learn bitcoin and would definitely use it in applications.

[Mpamaegbu]

as people prefer Bitcoin to escape taxes
This would affect a country's monetary system

I really don't think so. The government can still make users of Bitcoin pay taxes if it means to do that.

I guess Bitcoin isn't supported in most countries because its workings aren't even clear and to some that even have a grasp of it still think it's risky to be included in the financial system of their countries.

[CheapVccSeller]

In most countries not many people know yet what bitcoin even is. Even here in u.s not everyone knows what bitcoin is.

[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

That's really weird especially the jail part, the countries I knew allows Bitcoin use, though it's not legal but there are no such restrictions. But then again each country has its own policy and rules. Maybe the citizens have been grossly missing it or the country has not understood it at all. However I feel. Really sad for this users. Hope the country changes it law.

I think that some countries do not allow use bitcoin is because bitcoin network difficulty control, so bitcoin does not fall under the jurisdiction of any one.Each country has there own laws, looking forward to that after this bitcoin grow, it will do somewhat think of them.

[Botnake]

In most countries not many people know yet what bitcoin even is. Even here in u.s not everyone knows what bitcoin is.

Because bitcoin is not really an interesting invention for everyone, there are people who does not have internet so they do not have access
on bitcoin. My estimate tells me that we will not going to attract an adoption of majority of the world's population.
Bitcoin will be popular but up to a certain extent, not to beat legal currency at least.

[ASHLIUSZ]

as people prefer Bitcoin to escape taxes
This would affect a country's monetary system

I really don't think so. The government can still make users of Bitcoin pay taxes if it means to do that.

I guess Bitcoin isn't supported in most countries because its workings aren't even clear and to some that even have a grasp of it still think it's risky to be included in the financial system of their countries.

Taxation is a part of the economic system. If government has plans of accepting bitcoin, sure they can make changes to the taxation system adding bitcoin to it. If it's added to the legalized monetary system sure most users will enroll themselves avoid complications and other legal issues.

[dwieyani]

I hope the country can accept bitcoin because it makes my future even better, that's my hope bitcoin.

[DoublerHunter]

I hope the country can accept bitcoin because it makes my future even better, that's my hope bitcoin.

It is easy for a country to accept bitcoin because of its advantages and features, i think the countries just need to notice bitcoin and if they will notice bitcoin then they can easily study it and do a lot of research about it and after that they can easily decide if they will accept it or adopt it as a currency or not.

[ocid]

Bitcoin is a digital currency where technological developments find the latest way that can make it easy to transact, I think the country is not not support with the existence of bitcoin but many people who do various transactions either trade transactions or illegal sale and purchase of goods so the government did not formalize this bitcoin because many misused.
But the state does not prohibit the use of bitcoin because there are many banks that work with bitcoin.

[andrei56]

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.

No matter how much a government dislike bitcoins and make it harder for people to use it or convert it into fiat, still they will not succeed in it 100%. Insipite of all the bans make by the governments, people are still able to use it online . Governments can only discourage the use of bitcoins by giving lots of incentives in local currency transactions but they cant completely ban it.

In a way you are correct but governments can really slow down the adoption of bitcoin by making it illegal, while other things that have been declared illegal have become even more successful because of it, like alcohol, we must not expect the same to happen to bitcoin since bitcoin does not generate a physical need like alcohol does.

[Yusuf77]

Perhaps because maasih constrained state policies such as in my country. Banned for fear of terrorists sending funds using btc But I hope that the future btc can be legend in my country

[andrei56]

I hope the country can accept bitcoin because it makes my future even better, that's my hope bitcoin.

It is easy for a country to accept bitcoin because of its advantages and features, i think the countries just need to notice bitcoin and if they will notice bitcoin then they can easily study it and do a lot of research about it and after that they can easily decide if they will accept it or adopt it as a currency or not.

I think it is easy for people to accept bitcoin, because while it may sound complicated bitcoin is very easy to use, but governments are another story since they are going to feel threatened by bitcoin and the revolution that is going to bring in the world of finance.

[theunbeatable]

I hope the country can accept bitcoin because it makes my future even better, that's my hope bitcoin.

It is easy for a country to accept bitcoin because of its advantages and features, i think the countries just need to notice bitcoin and if they will notice bitcoin then they can easily study it and do a lot of research about it and after that they can easily decide if they will accept it or adopt it as a currency or not.

I think it is easy for people to accept bitcoin, because while it may sound complicated bitcoin is very easy to use, but governments are another story since they are going to feel threatened by bitcoin and the revolution that is going to bring in the world of finance.

If people will know about bitcoin what it about and what will the benefits of it, they will immediately accept it. But other country and it's government don't want it, they think that bitcoin is a currency that can use for terrorist, cyber crimes and other bad things with the used  of internet. Other are don't like bitcoin they want the traditional currency.

[bitcoinstress]

There are several reasons like we are arranged by the government and it is no secret that governments of some countries forbid bitcoin.

[ladydark]

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

In bangladesh,even imprisonment is given to persons if found using bitcoins.Some countries fear that bitcoin would be used for buying illegal products.They also fear that they would loose their revenues which they got from taxes.

[hinatashoyou]

Many countries worry because bitcoin is anonymous, so it can be used for a variety of illegal acts such as money laundering and terrorism. Maybe that's the main reason many countries in the world not supported bitcoin

[hawthelegend]

Well for me, i probably think that they hate the fact that they can not and never will be able to control bitcoins. And you know governments dont love something they cant control, those countries that have accepted bitcoins are the countries that realized they cant do shit to stop it nor control the people not to use it, so they just go and take advantage of the benefits they can get and ignore the thing they cant do ahit about.
That's just in my own perspective tho.

[Meraki]

The main factor is the countries not yet ready to accept bitcoin, and the country still prioritizes the fiat money for the direct transaction. Until now, there are no countries that approved the use of the currencies from other countries directly, the official currency of other countries just could not accepted for transactions in the country, let alone the bitcoin which until now there hasn't been any countries that used it officially.

and also, There are many reason why bitcoin is not supported in other countries. If you could see the government, they need taxes- taxes is a very important in the country to have an successful economy and because of that they'll banned bitcoin. Bitcoin is a crypto-currency or a paper money and they don't get a taxes into it and that is the reason why they banned it.

[Zionatin]

There should be support for Bitcoin no matter where on the planet you are. You need a device and s way to connect online and a wallet. That is all you need to use Bitcoin and that is what makes it so wonderful to use.