Why bitcoin is not supported in some countries?

[CryptoLoverz]

i dont know why
in my country not accepted bitcoin, but governmetn not prohibit about bitcoin. they just not believe in. and i think they will change their mind about bitcoin later, and i wise they will give regulation and legal this coin. but government must take profit from it, tax, or use bitcoin maybe.

[planfox]

The authorities want to control bitcoin and many countries because they can not control bitcoin decided to simply ban it so that the inhabitants could not manage their own funds themselves.

[Turiettly]

That is typical, anytime a factor has a worth, it can be utilised as a instrument no matter whether to do very good or poor. Media just sensationalize items and exaggerate in accordance to what could capture the attention of their viewer.I do not see any cause why bitcoin ought to be supported by the authorities, allowing the use of it in the country is sufficient.

[bitctrimor1]

I think some countries that don't support bitcoin are not comfortable with the fact that it is not a tangible currency that is backed by gold like the traditional currency. Plus, it can be an issue that it can be "mined" or earned in a way that some people who has extensive knowledge with programming might exploit . Hopefully, bitcoin would develop many more safeguards to counter that possibility.

[esgdrhlg]

Other countries I don't know, I'm from China, and I'm talking about why the government would regulate bitcoin in China. Because in China, must be the most stable benchmark currency, the existence of COINS may disrupt the social and economic system, so in order to avoid unnecessary trouble, the government often banned them first to avoid any future. However, I invest in bitcoin regularly through other means.

[PRIMEBOSS]

It is up to the mode and policy of each country to accept many things and to reject some of things some time they make rigid policy while some time soft. There are lot of reasons through which country not supported this new digital currency.

[Hasbro27]

bitcoin is not supported in some countries probably because of its government policy. or because of the small bitcoin community in the country. most countries now have many who receive bitcoin in the future will be more countries that legalize bitcoin.

[mammoniter]

There are actualy just a few countries where Bitcoin is actualy supported in legal way. All others are just tolerating or ignoring it or it's banned. The reason is probably because there is stil dominant thinking that Bitcoin is something connected with illegal activities or tax evasion, or the attitude is that Bitcoin is threath to financial system or the simply just don't know what to do with it.

True, I think china is the only country making a big fuss about bitcoin, well maybe because it might greatly affect their economy since man power is a number one asset of china and if everyone would turn into bitcoins working at home mining or trading without  being taxed then they would think of it as a threat but as of the other countries like ours they somehow just allow bitcoins to be used as a mode of payment in some services.

[Best Dreams]

Japan, Bahrain, Estonia, the United States, Denmark, Sweden, South Korea, the Netherlands, Finland, Canada, the United Kingdom and Australia support Bitccoin, they are  developed countries, so not developed are not ready  to support.

Absolutely you are right there are some other countries as well who are supporting bitcoins in their country and they are also develop countries but those countries who are not accepting bitcoin may be they think it can disturbed their economy but I think they are wrong because all the develop countries who have accepted it I don’t think so that they took a wrong decision.

[Rj Manik]

Many economists believe that money can be transmitted through Bitcoin Very easily.They think that because of the identity hide of the person here, it is easier to crime.This cause bitcoin is not supported in some countries.

[assyla]

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

Bitcoin is not supported in som countries because if they do that the government's income to taxes will decreased. In a sense that because bitcoin does not need tax many people will pick it because there is no additional fees.

[Zabrielle]

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

Every country have their laws, if that so then they to follow. Maybe because bitcoin transactions is very private and it cant be trace if someone do illegal transactions. Maybe this is because of security and safety issues. They all have their valid reasons in regards with their laws. But so far in my country bitcoin is pretty new i guess. Its booming here.

[darkphoenix2610]

many countries did not implement bitcoin because they thinking that it would be threat on the economy of their country instead of thinking that it could be lessen the poverty by the help of the bitcoin, many country thinking that it was illegal that could no be trusted or just thinking that it was a scam and cannot give them a brighter future if they use just a virtual money.

[jerrison]

I think it is more like of the pricing. the unstable price of bitcoin is enough reason for any organization to have a double thought on the bitcoin option, a nation will have to have every form of review of it before considering it.

[Japinat]

I think it is more like of the pricing. the unstable price of bitcoin is enough reason for any organization to have a double thought on the bitcoin option, a nation will have to have every form of review of it before considering it.

The price is not the reason because the volatility is just its nature so if they will understand bitcoin it would be easy for them to embrace.
For users who just want to benefit the system for online transaction they don't care much about the pricing because at the end of the end it's just fiat to bitcoin and vice versa conversion.

[danggoron]

each country has its own policies. the angle of view of bitcoin is different. some see it as a profitable thing, and some see it as a disadvantage. we should be able to appreciate the difference. Until now, bitcoin is prone to use for crime, money laundering, black market, etc. that is one reason for countries that do not legalize bitcoin.

[r1a2y3m4]

It is not surprising that some countries ban the use of bitcoin. It is after all hard to understand at first. When you have old close-minded politicians, the tendency is they will ban the use of this unknown technology. Also, there is still the probability that the policy makers are influenced by bank owners to ban bitcoin. It is within my understand that the banks are the first and foremost institution that are affected by the rise of bitcoin, specially US banks. In one of my other posts, I discussed how Japan and EU collaborated to create bitcoin to counter the destabilization done to them by the US and the US dollar. Naturally, some countries will ban bitcoin.

[loyseu]

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 of the laws that is why many country can't accept bitcoin also the government, it seems that they will really oppose to the idea of bitcoin because I think they will lose their power once bitcoin is fully accepted in their country.

[Rossy Akbar]

Their countries , their laws.  It really depends on your definition for not supported too . If we speak about banning then as far as I know I don't think there is a country that actually banned bitcoin , at least nothing official and If there is then Its related to the banking system with one way or another . If its about the lack of usability in ATMs , local shops then there are plenty of countries and It takes time as some countries have more priorities .

So true, in my country they said btc is an invalid currency as they might think because btc is too risk to use and more people doing criminal with it. That's totally wrong.

[Konco126]

Bitcoin is not supported in some countries? Probably because of the corporate factors that don't want to lose competitiveness with bitcoin. If everyone joins in bitcoin, then job seekers will decrease. So companies are not easy to find workers who are good quality.