Why bitcoin is not supported in some countries?

[libert19]

Bitcoin is anonymous, doesn't matter if government supports it or not.

[ankit10]

Bitcoin is anonymous, doesn't matter if government supports it or not.

It' Matters, you can't cross border without permission of your government. You can't buy product's without permission of government (government body pass the product) , You can't use your currency notes if it was ban to use, It's same with Bitcoin you can't use it without permission of government,may you use but you have to high fee for your bitcoin( Jail)

[Hamstead]

Bitcoin is anonymous, doesn't matter if government supports it or not.

They don't support bitcoin because they don't have interest on that and they know also about capabilities of their people. Bitcoin is an online transaction so therefore needs also a stable internet connection and thats a big problem  in the poor countries who have limited on that. Even if the government wanted to be but a big possibilities that the large group of communities won't recognized it.

[Goler]

a lot of factors why bitcoin is not supported in some countries of which every country has its own laws, perhaps those countries fear will affect the stability of the currency there is in the country.

[Kirachan95]

I don't think "some", It must be "almost" cause the government can't control the payment and the person who made it that why a lot of people is taking adventages of that problem to do money laundering. Beside when people use bitcoin they don't have to pay the tax, It'll be a big loss for government

[cakra]

Each country has its own policies. The rules set must have been through careful consideration from their point of view. We should be able to respect each other.

[andthereyou]

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

I think that there were two main reason why they did not want bitcoin.

1. Tax evasion- the government will have a big problem when less money going to the treasury. espcially the corrupt officials, the less money going to treaury the less money they can get illegally.

The corrupt government officials can take advantage as well.
They can store the dirty money in bitcoin wallets without being traced. Because some countries had a law that all government official must declared their wealth to the public.

2. Money laundering- criminals will take advantage and store their money in bitcoin wallets so government could not trace it. Unlike if the Criminals stored their money in the banks.

[Bittoshi]

The governments of some countries fear to lose control of their own currency (where they can control inflation, cash flow and print the money). If their people start to use Bitcoin, which has no inflation, no one wants their Fiat money anymore. That's probably why they do not support or even forbid the use of alternative currencies like Bitcoin.

[erickkyut]

Bitcoin is not supported in other country because the government does not approve of it. They don't want to adapt Bitcoin because it is decentralized and have no control over it. But I think in the near future, if they see that lots of countries are starting to adapt and accept Bitcoin, some of them will follow it and will do the same.

[Theb]

The governments of some countries fear to lose control of their own currency (where they can control inflation, cash flow and print the money). If their people start to use Bitcoin, which has no inflation, no one wants their Fiat money anymore. That's probably why they do not support or even forbid the use of alternative currencies like Bitcoin.

Actually the country's goverment won't lose control of their own currency they can still control the supply of it as Bitcoin has no effect on it whatsoever. And what is up with you guys looking at inflation a bad thing? For people who knows the basics of Macro Economics inflation rate of a country is actually good for both the country and their economy. There are inflation rates that signifies growth and bad inflation that signifies a bad economy.

[oktana]

The governments of some countries fear to lose control of their own currency (where they can control inflation, cash flow and print the money). If their people start to use Bitcoin, which has no inflation, no one wants their Fiat money anymore. That's probably why they do not support or even forbid the use of alternative currencies like Bitcoin.

Actually the country's goverment won't lose control of their own currency they can still control the supply of it as Bitcoin has no effect on it whatsoever. And what is up with you guys looking at inflation a bad thing? For people who knows the basics of Macro Economics inflation rate of a country is actually good for both the country and their economy. There are inflation rates that signifies growth and bad inflation that signifies a bad economy.

You have to learn from what the Chinese government is doing to all the bitcoin exchange markets in that country, the application of kyc and some strict rules they do because china suffers from significant inflation due to the serious exchange rate of btc/cny, if this is not arranged then bitcoin can replace cny in a short time and this will surely destroy the economic sovereignty in china.

[josephpogi]

Becuase coutries have a own companies or job i think some countries not suport is because some of workers quit their job as an employer. And we all know that bitcoin value is continious to increase. that is for my opinion.

[futile-resistance]

Bitcoin is not supported in other country because the government does not approve of it. They don't want to adapt Bitcoin because it is decentralized and have no control over it. But I think in the near future, if they see that lots of countries are starting to adapt and accept Bitcoin, some of them will follow it and will do the same.

Government is not the only problem and they cannot forbid the users as internet is not their property. Bitcoins is becoming famous day by day but still majority in underdeveloped countries is not aware of this technology. Many are kept deprive of this blessing. However, developing countries and developed ones have supported BTC for years now.

[Bitmedrano040117]

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

I think reason why bitcoin is not supported in the other country because of its decentralization. As far as I can see if bitcoin will be legalize to their nation maybe they want bitcoin become centralize so that they can do whatever they want. That's all what I've been thinking
about it.

[ekoice]

Bitcoin is banned in Bangladesh,Equador,Bolivia and Kyrgyzstan.Even six months imprisonment is also given to persons if found using bitcoins in bangladesh.One thing has to be noticed that bitcoin is legalized in japan and regulated in china and russia,but banned in under developed countries.It shows the difference of understanding between developed and under developed countries.Some countries may fear that they would not be able to control illegal trades if bitcoin allowed in their countries.Also,they may fear that they would not be able to control outflow of their countries money outside the borders.They may have the fear of losing the earnings which they got from taxes.But,most of countries have started to realize that bitcoin could not be further avoided.

[ivrynx]

What i thinl is some countries are not yet developed when it comes to technology, they might have have worling computers but lack education on how to optimize their system. Other develop countries fear that bitcoin might take ober their fiat system, and in turn their corrupt governments will have no more tax to collect. If only they can see what russia and china saw that bitcpin will be the next world currency other countries will follow, since in the future the more digital currency you have the more powerful your country will be. Governments should just let their fiat money and bitcoin go hand in hand since it is a possibility if you look at sokor and japan, they are using bitcoin and other cryptocurrencies on their daily lives.

[rb26]

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

Well I guess the reason why some countries don't support bitcoin is that they are skeptical. They might be afraid that btc will be used in illegal activities.  But mostly is that they cannot control it since it is decentralized.

[loading...]

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 I think some countries saw what are the advantages of bitcoin so that they knew and accept it in countries. And all I know is bitcoin is depend on the people of the country because the government does not do anything with it. So it is depend on the people. And many people are accepting it and using it now in their country.

[ahmia39]

There are several factors that make bitcoin not supported by some country. One of them (probably) because of the country's fiscal policy, the economic level still low so their governments are worried if his citizens explore bitcoin. Whereas, we all know bitcoin is a 'something' very risky to be an investment choice.

[fullypak]

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 I think some countries saw what are the advantages of bitcoin so that they knew and accept it in countries. And all I know is bitcoin is depend on the people of the country because the government does not do anything with it. So it depends on the people. And many people are accepting it and using it now in their country.

People are accepting and using the bitcoin, but the issue is governament is not accepting. You will see Bitcoin users world wide, but except few countries, the other countries are not made this Bitcoin is legal why? Because the govt will not get any revenue from this Bitcoin. I think in future all countries will support Bitcoin let's wait.