Why bitcoin is not supported in some countries?

[Eugenar]

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

Maybe it is because of the reason that it is decentralized. Being decentralized of Bitcoin allows its users to use Bitcoin as they like with a possibility of being used with illegal activities that might make the governments worried. As a currency, the reason why it is not yet legal is because Bitcoin is volatile. And market value stability is important in a currency.

[umbara ardian]

there are several reasons that countries do not allow their citizens to hold bitcoins. maybe the country is afraid of weakening their currency and they are switching to bitcoin. and the second most familiar reason. the bitcoin movement is too fluctuating so they mark the bitcoin is unsecured money. and the third bitcoin can get people to not work so they lack human resources. because their citizens chose home and mined bitcoin

[Japinat]

there are several reasons that countries do not allow their citizens to hold bitcoins. maybe the country is afraid of weakening their currency and they are switching to bitcoin. and the second most familiar reason. the bitcoin movement is too fluctuating so they mark the bitcoin is unsecured money. and the third bitcoin can get people to not work so they lack human resources. because their citizens chose home and mined bitcoin

Bitcoin is a threat to the bank and if the does not give freedom to it's people to change the current system then they will ban bitcoin.
Take it for example, China has recently ban exchanges and it is already tantamount to banning bitcoin,they are one of the biggest holders of bitcoin in overall and they are afraid to have bitcoin be more popular and people will adopt and leave banks. It was the bank who made an effort to ban bitcoin in order to protect their own interest and I hope they will realize and will not act based on their personal interest but with the interest of the people.

[Paid Piper]

Bitcoin is not supported by goverment in many countries simply because they want to control the cash and Bitcoin can not be controled because it is decentralized. I do not think that several countries ban Bitcoins and some folks use it even if it is banned in their place. You just require net relationship, so it can be utilised almost just about everywhere.

True. If their citizen use Bitcoin too much, their unit of currency will lose price. There are a lot of reasons that the governments don't accept to use Bitcoin. They even arrest who dare to use Bitcoin in their country. I hope in the future Bitcoin will be supported all country in the world.

Yes if the citizens of a country use bitcoin then the currency of that country will go down and the economy of the country will go in loses and that’s why the governments are not accepting bitcoin. But I think that everyone has his own choice and he should use a currency of his own choice. Looking to the popularity of bitcoin we are hopeful that the time will come when all the countries will support bitcoin.

[Delisaara]

every country has a different policy so we can clearly see some rules,
there are considerations of course very important,
there are some countries that do not use bitcoin and some are using bitcoin.
it is the right of every government.
I am just lucky to be in a country where people and governments are open-minded.

[ongels]

Since bitcoin is decentralized it is a big threat to government because they don't have controls on the transactions happening 24/7. Government rely mostly on taxes to boost their economy, in this case people have freedom to transfer transactions in huge amount with a lesser tax amount incurred in sender.

[Karimeen]

Bitcoin is not supported by some countries because they might not be  knowing its transparency and easy handling, Such countries are scared of toppling their current economy by introducing the cryptocurrency. The countries which knows about the advantages and the transaction feasibility of such currency they will derive the maximum advantages out of it.

[cherrymobile]

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

Maybe the  one reason why bitcoin not supported in some country is becuase bitcoin is decentralized and  no goverment can control bitcoin  and i think if the bitcoin become popular and supported in some country a lot of people leave their job.

[Wingo]

There is a difference between 'not supporting bitcoin' and 'banning bitcoin'. Here in my country, bitcoin is not supported. There are no rules, policies, or laws that protects bitcoin users. Japan is a good example of a country that supports bitcoin.
Banning bitcoin is a pain in the ass if you're a bitcoin user. There are countries like Russia and China where bitcoin trading is prohibited. They tend to ban bitcoin because they see it as a threat to their economy. There are many black markets that uses bitcoin because of its anonymity and I also see it as a reason why some countries ban bitcoin.

[saekotye07]

every country has a different kind of law we must accept the fact that there's a country abiding their law. whether some country not supported the bitcoin always remember that there's some country supporting bitcoin..

[Frank0209]

Cause it's not legalized all over the world. Such as in my country, bitcoin is illegal cause the government affraid that Bitcoin will harm all other economies in my country, I aggre with that opinion, cause Bitcoin economy is very interesting so all investors in my country will only use their money to invest in Bitcoin economy so it'll harm to others economies. Beside, the government can't control Bitcoin totally so social evils related to Bitcon is ineluctable such as money laudering or buying drugs with Bitcoin. In my opinion it's the main reason why Bitcoin is not legalized in the whole world.

[faithupgrade]

every country has a different kind of law we must accept the fact that there's a country abiding their law. whether some country not supported the bitcoin always remember that there's some country supporting bitcoin..

True,  there are some laws that every country should follow. Like for instance, in currency, every country posses different laws regarding that. So, if bitcoin are not supported by other countries rest assured that there are more countries that will be able to support bitcoin.

[Powerman001]

because certain countries do not allow the exchange of currencies that are not on the ground of certain laws for the avoidance of money laundering and other things that violate the law

[johnarce]

Wait. How is it even possible to ban math? Iceland surprises me especially given their attitude towards banks. I.e. Let'em fail. 

[Asyifiah]

because it is difficult to control the government circulation  , Decentralized.
tax-free. the government does not take taxes because the role of government does not exist.
countries can experience inflation.

[Lanatsa]

because it is difficult to control the government circulation  , Decentralized.
tax-free. the government does not take taxes because the role of government does not exist.
countries can experience inflation.

Centralized things cant really control Decentralized things just like on bitcoin this is why government would really see this thing as a big problem which they cant really accept it no matter what.Some may already accept it but i do believe that most countries would really do the opposite thing which i think its just a normal reaction for them knowing that bitcoin cant really be taxed and also its anonymous on which you cant really know on whos the one who made transactions or owning a certain wallet that do have lots of funds.

[Chachacoin17]

because it is difficult to control the government circulation  , Decentralized.
tax-free. the government does not take taxes because the role of government does not exist.
countries can experience inflation.

Centralized things cant really control Decentralized things just like on bitcoin this is why government would really see this thing as a big problem which they cant really accept it no matter what.Some may already accept it but i do believe that most countries would really do the opposite thing which i think its just a normal reaction for them knowing that bitcoin cant really be taxed and also its anonymous on which you cant really know on whos the one who made transactions or owning a certain wallet that do have lots of funds.

Yes, very well said mate. Without taxes paying to government, they will have less fund to their country. Government need taxes to build bridges and highways, pay education, hospitalization and many more. Now with bitcoin being decentralized, they can't control it. Either you earn a million because of bitcoin, not a single tax will be given to government and they can't trace you because everyone is anonymous.
Well I guess it's quite fair to countries that are not corrupt. But to countries where corruption is very rampant, well I guess it's just being fair after all.

[Decalcomania]

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

Becuase goverment can't control the bitcoin maybe the goverment scared about bitcoin because if all people know this i think many employed people quit their job bevuase bitcoin have a good potential to get a sourcr of income.

[kamikadze69]

I guess because in a country has a level of human resources who have not been able to use bitcoin. so if they insist on applying bitcoin in a country it will happen something that can not be overcome by the country's government.

[SultanWR]

i think policies in every country are not the same,  Policy makers from various countries are taking steps to provide individuals and businesses with regulation on how to integrate this new technology with the rules of the formal financial system