Why bitcoin is not supported in some countries?

[bitcoinhunter1221]

Some countries are bot supporting bitcoin because they think that the whole thing is just a scam because bitcoin is also risky. Some are afraid that bitcoin might rule over the banks.

[Deathgamer]

Bitcoin is not supported in some countries because they say that bitcoin is being use in an illegal transaction such as drugs and terrorism.They can transact using bitcoin very easy and no problem so the government was alarm by this kind of transaction of criminals but in other hand also alot of people use bitcoin for good and earn bitcoin by hardwork but they are affected because of that illegal transactions and that is so disappointing to hear.

[lestariptr]

every country is different. These countries are worried that Bitcoin will make their economy go down probably because there is a dominant thought that Bitcoin is something that is related to illegal activity or tax evasion. therefore every country does not use the bitcoin

[Shiversnow]

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

These countries may not have enough capabilities or any interest in cryptocurrency. Some countries have more important priorities to deal first. While some countries that even though have the capabilities but still banned the use of it because they don't want to risk itself because some claimed that cryptocurrency and criminality have correlation. Whether its true or not, we must still not lost the hope in cryptocurrency and what cab it do in the future.

[trungnhatnguyen06]

The Nation State Bank exposes the currency privileged of their own owners and cause the stable format of the money.

[tbterryboy]

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.

This is one of the major reasons why bitcoin is to common in some of the countries. These are especially those countries which are developing ones or underdeveloped where people do not have internet connects available all the time and literacy rate is low.

Bitcoin can only be sued by those who are educated and have some knowledge of computer but with increase in literacy, these countries will also use bitcoin.

[meliodas]

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 some countries do not support it yet, because they haven't learned what is bitcoin all about and what could be the positive and negative effects in their respective countries. I can't blame them, change is a really difficult thing to implement. I think that if bitcoin could capture their trust then they could implement it.

[bakunawaaa]

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

Sorry I have never heard of a country announcing jail for 6 months to people caught using btc. What do you mean by supported? If you mean supported as legal tender, then the reason for that is criminal activities using btc as a tool for money laundering and hiding other assets fro the government. Also a form of tax evasion.

The answer to you other question is your gpu and your rig is technically performing the back office work for the whole system of btc. In other words your pc is doing the accounting and verification of transactions. That is the easiest way to explain it.

[justyourkuya]

It depends on a country's laws and principles to abide when it comes to currencies and other financial means. Perhaps, in some regions of the world, they find it hard to deal with cryptocurrencies like bitcoin especially knowing that it is decentralized and its risk of investment is too high. Some may have in mind that being well-informed about it is needed before they'll go further with it.

[Mulavad]

Governments, bankers and other small people need their cut.
They want to control cryptocurrency. But it's just a question of time when it will be
free for use.   

[wallstone]

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 absolutely agree to that, bitcoin is still not supported in some countries and I think they have many reason why they still not supported it. In addition, I think one of the reason is the tax because bitcoin is a tax free then we all know it is decentralized so that they do not controled it.

[klebsiella]

Because there are still issues regarding bitcoin such as it will compete with the countries national currency and the security it poses for potential investors. Also, its anonymity. Bitcoin transactions may be recorded but the names of buyers and sellers are never revealed only their wallet's ID. It keeps their transactions private, it lets them buy and sell without tracing it and so it can becomes a tool for crimes like online buying drugs and other illicit activities.

[Koransuek]

I think that every country has a law on this. so it is only natural that a country forbids this.

[gabbiee]

Because there are still issues regarding bitcoin such as it will compete with the countries national currency and the security it poses for potential investors. Also, its anonymity. Bitcoin transactions may be recorded but the names of buyers and sellers are never revealed only their wallet's ID. It keeps their transactions private, it lets them buy and sell without tracing it and so it can becomes a tool for crimes like online buying drugs and other illicit activities.

For some government they consider it as a threat to the economy, safety, laws, etc. They can't control bitcoin which is bad for their economy because of the taxes we don't pay when using bitcoin. I also agree that it is because of being anonymous while making different transactions they consider it as a threat.

[Eraldo Coil]

One of the reasons why bitcoin is not supported in other countries is because they believe that it is a virtual currency and not a real currency. And another reason is people are getting money in bitcoin and they do not get taxed.

[aimata27]

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.

Well it's only because some governments in some countries here are only protecting their own national currency and they are also concerned about some money laundering activities.

[kucritt]

maybe the government dont want to make inflation in their country because government can't handle the money circulation in blockchain network. and maybe they will restrict about nrew era of digital currencies int theier country

[chip1994]

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 absolutely agree to that, bitcoin is still not supported in some countries and I think they have many reason why they still not supported it. In addition, I think one of the reason is the tax because bitcoin is a tax free then we all know it is decentralized so that they do not controled it.

Yeah, just only about the tax problem is enough to make the government don't want to accept Bitcoin, they need tax to have profits and this is the only benefit for them when they become the government. Beside that, with the nature of cryptocurrency as Bitcoin, it's really bad for society because this currency will help the criminal solve the problem about payment method anonymous.

[yen10]

Maybe because they still not realize its potential. Also, some countries are afraid that it might be used in illegal activities like money laundering. They might also afraid that it will replace fiat cash. But I think sooner or later, if more and more countries will support and legalize it, others might also consider it.

[Sean25pogi]

For me, the reason why bitcoin is not supported  in some countries that because there some country are have own policy and law that need to be followed by one another. And they're fear to used bitcoin as a digital currency because there's a time that their money currency can change into bitcoin and possible their economy will be go down through it, so they ignore it to use as a currency money to avoid confrontation between Citizens and Government.