Why bitcoin is not supported in some countries?

[potatocorner]

Some countries do not see the potential of bitcoin in changing one's economy, because they do not know bitcoin entirely and how does it work. In some countries, maybe they experienced some problems in using bitcoin so they have stopped using it and don't support it anymore. Maybe some countries are afraid to make a change in their economy and they are afraid people will use more bitcoin than fiat, which can happen in the near future.

[Snub]

You are not right.
Bitcoin supported everywere were we can change it on something else... cash, products, house, etc.
So bitcoin supported there were we have internet connection and people who use it.

[The Alchemlst]

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 .

True, because it is their defense mechanism to stop something of unknown origin that may affect their society, culture and economy. Some countries think bitcoin as a threat and its anonymity is something common to question specially by the leaders of a respective nation. Though I think it would only a matter of time before it is become legalized and accepted worldwide I think what we are witnessing now is maybe like an observation period for bitcoin and other cryptocurrencies.

[AngeITea]

Bitcoin is not backed in certain countries because:*They think bitcoin is illegal*Mistreated by criminals-Will not help their economy*Can reduce their profits in banking institutions*They cannot control it

[selectaselectine]

Maybe because in bitcoin, you don't have to pay for the tax or any other government fees. And I think their government is concerned with the effect of bitcoin to their economy.

[Granslam]

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  they said that bitcoin is only a fraud govermemt banned the bitcoin is because bitcoin is digital currency that have a potential to replace a fiat money without any fees and bitcoin can replace the bank so the goverment got panic.

[jassanpary]

Because in some countries it is not legalized, government  has to give permission to operate bitcoin.

[Gondwanaland]

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 it is not supported because every country have different laws that need to obey. Also, bitcoin is not legal in many countries because they did not completely know what really bitcoin is. they are in process of studying it and discovers what is the advantages and profits of bitcoin has.

[Mehedi72]

nowadays many countries are banning bitcoin and  As my opinion,  due to  criminality are increasing more than before due to bitcoin cause supid people like them, use bitcoin for doing bad kind of work & activities and besides bitcoin  kill  income tax.  Thus a county face economical problem and so government  trying to provide it and they banned bitcoin to solve this problem

[Paycoinzzz]

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 it is not supported because every country have different laws that need to obey. Also, bitcoin is not legal in many countries because they did not completely know what really bitcoin is. they are in process of studying it and discovers what is the advantages and profits of bitcoin has.

In my opinion, the government all know the benefit of Bitcoin to transfer money and security.
But the fact, they using Bitcoin meaning they accept lose their profits through this currency, because the government can not manage Bitcoin system.
Finally, the business will using Bitcoin to evade tax

[eth86]

bitcoin is not a topic that is easily understood. to regulate its usage you need to understand it. mostly country only allow what they can tax.

[kimpena]

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 has its own reason and decision whether o declare bitcoin legal or illegal. Countries who considered bitcoin as an illegal things has a deeper reason for it, maybe they don't want there people take the risk of handling bitcoin. Or maybe some countries are afraid of its existence, that there's a chance of being the future of money. There are also countries who has laws that really prohibits this thing. For whatever reason they have, we must respect it. Maybe they are still studying or learning bitcoin. If they find it good then maybe they will make it legal to their country.

[Dakshkapoor]

I think that there is not one reason behind the banning of Bitcoin in many countries :-
1. The number of crimes can increase because of crypto currencies because there is no data about how much coin a person is holding, he/she can use this coins for different crimes also.
2. Taxation is not there in crypto currency so government will get profits like in case of putting some money in banks you have to pay a particular amount of tax to the bank.
So by banning this they are more ensure towards the defencing their country.

[tinytrader]

I think each government should research first about bitcoin. Only then they will understand it and decide if they will accept bitcoin Or not. We need to spread the news to our local community people on BTC. Almost all the big countries are accepting and using bitcoin. BTC has large potential but people hardly knows. So it will be a great help to your country to adopt bitcoin also. You can build your small community from your country so you can build a group that can help bitcoin to notice by the governments there.

[WaIIaby]

Since it is regarded as something "frighteningInch,or perhaps something that the politicians are afraid of since it may disrupt the system we are involved in at this time.The fact is that either people are not prepared to enjoy a so called test out something totally new or they see the potential plus they want something to stay the same

[Iceblast]

because for some bitcoin countries today is still a very unique thing and also very rare to use. still do not have a negative and positive side for the country so that's the main problem why bitcoin has not been accepted by the state.

[Julia_bitcoin]

I think because Bitcoin, like any other traditional currency, can be used to launder money. Bitcoin is not provided with anything and no one is responsible to the owners of electronic money. Transactions with the cryptocurrency can be speculative. The absence of a control center in the system. The threat to the existing financial system.

[Pr0bIemRepeater]

With regard to government authorities, the reason is that this goes against the present model of energy in society. Despite this, I do not see numerous nations barring using the currency, they like to disregard and not give promotion. Regarding a lot of people, I think will still be early days. Although many people have the internet and many sources of information, they still have not realized the requirement for a forex to solve the problems that exist in fiat currency.

[heyouyou]

Because bitcoin is not under government control, the government thinks bitcoin can affect the economy. Bitcoins are also anonymous, are used by criminals, and the government can not track criminals, so bitcoin is not liked.

[yohan09]

It is lack of central payment system which could lead to people being financially harmed, In Bolivia they banned BTC because cryptocurrency are not issued and controlled by a gov't or unauthorized entity are so called illegal. In Ecuador they building electronic cash system, so they feel the need to protect their new currency from something clearly superior. A decentralized currency of finite production that cannot be manipulated by Gov'ts or banks might dim the lights on their new program in the eyes of the public, which offers non of those benefits.