Why bitcoin is not supported in some countries?

[Daniel_West]

Countries live on taxes. > BTC transaction fee goes to BTC. > Usage of BTC or any other cryptocurrency means no profit to the country. >No profit means no need

[Zicadis]

I have heard that bitcoin is not supported in some countries.

You heard right but with time these decisions will be overturned, no doubt!

But why ? Is it because bitcoin is risky ? Some countries even declare 6 months jail if her people use bitcoin. Is it fair ?

Risk is definitely among the many reasons but I honestly think this has to do with it being decentralized which is uncontrollable by their central banks. And going to jail for simply using bitcoin is totally unfair!

I mined few cryptos and have left mining. It was fun and challenging too.
-snip-

Good thing you experienced the thrill of mining bitcoins, unfortunately, it is not as profitable as it was for small scale miners and IMO you made the right call to leave mining to the big boys.

[Pattart]

It's true that Bitkoin isn't supported in some countries. In my opinion, this is due to the fact that their economy is simply not ready for such significant changes.

I think not because of the sudden changes they are having. But for now the bitcoin system does not match the government system. Bitcoin should be something that can be controlled and open not anonymous. So the government can control it

[DoublerHunter]

It's true that Bitkoin isn't supported in some countries. In my opinion, this is due to the fact that their economy is simply not ready for such significant changes.

I think not because of the sudden changes they are having. But for now the bitcoin system does not match the government system. Bitcoin should be something that can be controlled and open not anonymous. So the government can control it

If you want centralization for bitcoin then you are not a true bitcoin user because if the government will control bitcoin then it will become impossible for us to have freedom in bitcoin market and the chance of getting profits will become lower and it will just the government will make money from bitcoin and that is why most of the bitcoin users hate centralization.

[Shenzou]

Well some countries are still not that yet advanced when it comes to digital payments, i mean the whole worl is now based on networking and almost every place has internet in it but the mentality of some poeple in some countries is still not yet advanced they are still living in the past and it is going to take a while for them to adapt new things.

[doomistake]

It's true that Bitkoin isn't supported in some countries. In my opinion, this is due to the fact that their economy is simply not ready for such significant changes.

It is not like that, bitcoin cannot change their economy just because bitcoin is legal to them, there will be many process before bitcoin could change the economy of a certain country. The only reason why bitcoin is not supported in some countries is because of the issues they do have about bitcoin, some of the people on their country are using bitcoin on illegal activities and other illegal stuffs.

Buying drugs, illegal firearms and so on is the reason why the Government of some countries banned bitcoin and not supported bitcoin.

[Cosbycoin]

Money laundering, criminal use are some of the reasons why some countries do not support bitcoins.
I think it is silly, though, to show a lack of support for bitcoins.

Not only the reason what you are telling the main reason is its decentralized technology where you cannot find the user behind any transaction as it is not traceable that who is holding the wallet. due to this only most of the gamblers are using bitcoin for gambling as it is used by without giving any identity proof.

Yes this might be a reason and I guess this is one of the main reasons due to which the bitcoin is discouraged at various countries to use, the current situation is not favourable for this feature of the bitcoin to be welcomed by most of the countries because it can be a source for the funding of terrorists and such like groups.

[JohnBitCo]

You have the point also it is because government need to account all the money that comes in and goes out in the country that is not in the feature of bitcoin, of being decentralized of it.

[kpcian]

It's a simple point...
Bitcoin is basically running with the help of Internet, if internet is available then Bitcoin can be reached, some countries have already started thinking in order to allow Bitcoin, day by day Bitcoin is becoming a profitable and acceptable currency. From my perspective, if you have internet then Bitcoin is available to you..

[Termin4tor]

Well I think its because of the fact that many countries fear that their local currency might get negatively affected with the introduction of bitcoin.

[Kotone]

Well I think its because of the fact that many countries fear that their local currency might get negatively affected with the introduction of bitcoin.

Maybe you are right. Thats why government doesnt leagalize it because of that fact. And they think that it may be affect the economic of the country. And they also think that bitcoins came from the bad thing and they will say that it can from the payment for the hackers , black market etc. I wish many countries will legalize it.

[cotton ball]

Well I think its because of the fact that many countries fear that their local currency might get negatively affected with the introduction of bitcoin.

Maybe you are right. Thats why government doesnt leagalize it because of that fact. And they think that it may be affect the economic of the country. And they also think that bitcoins came from the bad thing and they will say that it can from the payment for the hackers , black market etc. I wish many countries will legalize it.

All that will change if America and Russia have approved bitcoin with the adoption of clear regulations, bitcoin is like badboy, this coin can be arranged and operated by capitalist civilization and all existing governance system. Links that contain bad things about bitcoin will continue to appear because there are no proper rules. Actually everything can be handled properly.

[slapper]

It's true that Bitkoin isn't supported in some countries. In my opinion, this is due to the fact that their economy is simply not ready for such significant changes.

Your answer is right. But I tend to the idea that the government don't want their citizens to use other cryptocurrencies instead of using real money, unit of currency. And it also due to the poor of technology and knowledge.

[Prodigan786]

countries banned bitcoin I don't know how much but very few because of money laundering and illegal activities and also huge fund transfer outside country .

[FasTroy]

countries banned bitcoin I don't know how much but very few because of money laundering and illegal activities and also huge fund transfer outside country .

Maybe you're right, about money laundering and illegal activities, I think bitcoin is not supported in some countries because of bitcoin development, because there is some countries, which the internet connexion is not available anywhere. Because bitcoin can used only with internet, so allowing internet connexion in the whole world, it's the first move for bitcoin developpment around the globe.

[hawthelegend]

Very simple op, it is because some countries are scared that many people might use Bitcoin to launder money. Also, banks can not control Bitcoin, and most importantly is that Bitcoin is not formally linked to any of the existing laws and regulations of any central government here in the world today. So yeah, that is why I think most countries do not support Bitcoins.

[Theb]

Very simple op, it is because some countries are scared that many people might use Bitcoin to launder money. Also, banks can not control Bitcoin, and most importantly is that Bitcoin is not formally linked to any of the existing laws and regulations of any central government here in the world today. So yeah, that is why I think most countries do not support Bitcoins.

It is not about countries being scared of what it brings. Let us focus on the word "support" why do you think a country will support something that is decentralized in nature? Which is the complete opposite of what a government has a right to do. When you think of it most countries does not even care that Bitcoin exist in which almost all of them are neutral about the topic. Bitcoin as of right now is not yet a threat to these countries.

[dmamigo]

Very simple op, it is because some countries are scared that many people might use Bitcoin to launder money. Also, banks can not control Bitcoin, and most importantly is that Bitcoin is not formally linked to any of the existing laws and regulations of any central government here in the world today. So yeah, that is why I think most countries do not support Bitcoins.

It is not about countries being scared of what it brings. Let us focus on the word "support" why do you think a country will support something that is decentralized in nature? Which is the complete opposite of what a government has a right to do. When you think of it most countries does not even care that Bitcoin exist in which almost all of them are neutral about the topic. Bitcoin as of right now is not yet a threat to these countries.

Mostly because its a decentralized currency with no rules or tax laws. Government aren't kinda scared actually, they are just preventive about disturbing situations. As of India, its being heard that laws and tax will be implemented.

Moreover, many countries have other situations to control first, more important than Bitcoin probably. They might also accept if all the other countries will do so. 

[ModGirl]

Bitcoin does not need to be supported by countries. Its supported by the blockchain and everyone can use it with an internet connection.

Yeah bitcoin can live without government assistance and whoever that decentralization function .. even though bitcoin is prohibited in some countries even though it will not make bitcoin dead or lost because it all depends on the user itself. Users can still use bitcoin freely for being anonymous and being on the internet

Bitcoin has is a very huge web if a few countries are not accepting Bitcoin it does not mean that it will be dead or will go vanish from that particular country. it is not spread everywhere, people are still very interested in using Bitcoin as it is profitable for people if not for government but for all people of that country. they have great faith in bitcoin profit and want to earn through it as much as they can earn.

No this is not fact more countries has centralized bitcoin for there internal trade and many countries will legalizing bitcoin in the future. So this is not right that countries not supporting bitcoin and if some countries not supporting bitcoin is just because of un awareness and having no internet facility but it will be covered in future

[guoyu78]

Money laundering, criminal use are some of the reasons why some countries do not support bitcoins.
I think it is silly, though, to show a lack of support for bitcoins.

i think support bitcoin is much more better and i think its not the mistake of bitcoin who says that people using bitcoin as criminals or money laundering , we know that bitcoin have a lot of advantages so we should support bitcoin because bitcoin give us a lot of profit.