Why bitcoin is not supported in some countries?

[Selly Arumsari]

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 goverment afraid about bitcoin can the rival of fiat money and bitcoin can be official currency to use payment in store, mall, market etc

[Rajamuda]

This may be worrying in the use of bitcoin on its community, perhaps afraid of being used as a crime / used as an illegal transaction that could harm the state. In addition, of course bitcoin is a virtual currency that is difficult to control, while some governments in a countries sometimes don't like something that can't be regulated / on control.

[Cacaparg]

I think because goverment thinks that bitcoin can make bad influence into economy and goverment bank system, bitcoin can destroy to many laws and economic principles. So for several go verments, especially from cis countries bitcoin is a little inconvinient.

[johndoe784r]

Depends what you mean by "not supported"

[Onimushi]

Let's just respect their policy about money. They don't want their citizens to put their local currency in Bitcoins becuase somehow it's disturbing their natural order of the way their local currency does.

[pugman]

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

Really 6 months jail? Damn.  Maybe because of the fact that bitcoin is very much new to the markets a few years doesn't matter for them, and maybe also because of the fact that bitcoin reached 5000$ when no other currency reached that amount.

[julzcoinbit]

This may be worrying in the use of bitcoin on its community, perhaps afraid of being used as a crime / used as an illegal transaction that could harm the state. In addition, of course bitcoin is a virtual currency that is difficult to control, while some governments in a countries sometimes don't like something that can't be regulated / on control.

The government is really afraid of Bitcoin being used as illegal activities. Transaction by bitcoin is highly anonymous so bitcoin can become a tool for crimes like money laundering, drug trafficking, tax evasion and illegal payment. Also, it is illegal to use any currency that is not issued and controlled by a government or an authorized entity. Anyhow, there are a lot of reasons why bitcoin is not supported in some countries.

[risatrakib]

My country also does not support bitcoin .. If i caught using bitcoin i could get into prison for 10 years .. This is really unfair . I dont know why the government did not allow Bitcoin in my country. Bitcoin is future currency 

[Misshi]

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

The legal status of Bitcoin varies substantially from country to country and still undefined or changing. Because of one of its characteristics, Anonymity. It's hard for the government to trust something that they cannot regulate. They want to protect their national currency. And because Bitcoin was originally used/created underground, meaning they create it for illegal activities. That's why some countries think of it as an illegal commodity/currency.

[Betwrong]

My country also does not support bitcoin .. If i caught using bitcoin i could get into prison for 10 years .. This is really unfair . I dont know why the government did not allow Bitcoin in my country. Bitcoin is future currency  

10 years in prison for using Bitcoin? Where do you live, mate, Nazi Germany?

Seriously though, I doubt there is such a country in the world. Indeed you can go to prison for some criminal activity involving Bitcoin, but not solely for using Bitcoin. Please correct me if I'm wrong.

[BaraxLo]

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.

Yes of course most of the countries are not aware of its advantages like easy way of transaction as well as feasible for online shopping anywhere in the whole world, and after decentralization bitcoin is out of control of any country. So after the introduction of such best crypto currency in the digital world I am sure that they will must get the benefits of bitcoin by the investment from the whole world.

[lkjhg]

using bitcoin in a country using bitcoin is certainly a very high bitcoin purchase price while the country's finances are low in the eyes of the world, so the velocity of the country's money will increase and not in accordance with the country's issued finances, my country simply prohibits payments and transactions using bitcoin, but to access bitcoin my country still support.

[DU18]

Bitcoin is not supported by some countries because illegal activities can be done by bitcoin.In my country, government has banned bitcoin for money laundering.Also bitcoin transaction is untraceable, so bad people use bitcoin for their safety.Overall,bitcoin isn't controlled by anyone and it's not acceptable by some government.

[Ingoats]

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, they still doubt on digital currencies including cryptocurrency such as Bitcoin and altcoins. In my opinion, they don't support Bitcoin as a currency because it is volatile such that its market value changes from time to time which is a bit risky because a currency needs to have a stable value. Also, it is an opensource system and is decentralized, meaning, its users are allowed to use Bitcoin as they like, unfortunately, it can be used in illegal transactions and that thing, I think, is the reason why it is not yet legal to most of the countries.

[Sadnu]

Maybe the reason why bitcoins are banned from overseas due to the potential of many damaging banks. Because they fall when people turn in bitcoins. And many other things will affect me if this happens to be legal to them. That's why they only have to be banned and fined for imprisonment if you are using them. But they really find it difficult because it's hard to find people who use it.

[Zarbout]

Countries wants to control every penny circulating between their citizens. Other countries just didn't hear about bitcoin.

[sinta23]

I think the country has different rules, so every country also does not necessarily approve of bitcoin for circulation, it must also follow the rules set by leaders in the countries.

[silent17]

If bitcoin is really banned in some country, I think it a way for them to maintain their country at it is.
Like for example, some muslim country doesn't allow Christian people to bring a bible with them or else they will be jail.
I think it's the same way as bitcoin, they only want to maintain their country that's why they don't want bitcoin or they didn't allow the use of bitcoin.

[KingCanuck5]

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

People are afraid of things they don't understand. Governments are no exception.

[DyllanGM]

Generally perhaps because bitcoin can be widely used for illegal transactions easily.  In the thai movie Bitcoin Heist,  bitcoin is termed as illegal because illegal transactions are made though it.  Its not common for governemnt to be wary of it because of this.