Why bitcoin is not supported in some countries?

[Bambinoe]

Because it may eliminate the use of cash, thereby put the central banks out of work. Secondly i feel its because BTC transactions are anonymous and decentralized.

[dragon fire]

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 factor is that the system in each country is different.
and the other factor is the lack of understanding of bitcoin, maybe they think that bitcoin is illegal.

[taiwww]

Legal status of bitcoin varies among countries. Countries with developed economies have welcomed bitcoin. They have accepted it in their daily trade as legal currency. Countries like India are still undecided about the status of bitcoin, they have bitcoin exchanges but their central bank is warning its citizens not to use cryptocurrencies. Countries like China,Japan, Australia have earlier accepted bitcoin but now banning it for having security issues. Many third world countries still unaware of bitcoin, and even after having knowledge of bitcoin it is impossible for them to accept it due to lack of basic infrastructure like electricity, internet etc.

[/GeertJohan]

It depends on their country laws and policies.
May those countries think if they supported bitcoin their economy may getting low..
Because the bitcoin price is not standardize it may increase on tomorrow or it will decrease on next week but the answer is no.. So they do not support it or use it.

[weishao]

Because Bitcoin can undermine the economy of some countries. So some governments have to ban Bitcoin. Bitcoin is also used to launder money, buy drugs and firearms. The government can not track the users of Bitcoin. So the government does not like bitcoin.

[ongels]

Bitcoin is not supported in some countries because it could be a tool to make crimes, There are so many features of bitcoin that triggers crime, such decentralization and also the state of being anonymity to all users.

[Dr.Osh]

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 factor is that the system in each country is different.
and the other factor is the lack of understanding of bitcoin, maybe they think that bitcoin is illegal.

it's because the government of that country does not see any profit in bitcoin, so they make bitcoin illegal. and I think there's another reason so they do it. it is possible to make illegal transactions become reduced using bitcoin.

[dg2010]

Because it is used by Crimes. They often use Bitcoin for buying drug, money laundering....They also dont collect tax from it. So they ban it

[Ucy]

Only few countries actually support Bitcoin especially the developed ones.
The good thing about it just like Fiat is that you can store or exchange and don't have to worry about people liking it or not.

[DoublerHunter]

Only few countries actually support Bitcoin especially the developed ones.
The good thing about it just like Fiat is that you can store or exchange and don't have to worry about people liking it or not.

As long as the bitcoin is not banned in a certain country then you can just buy it and keep it on a safe place. People are still not liking bitcoin because they are doubting about the power of bitcoin and they know that it is very risky but if they just study the system of bitcoin then they will understand how good is bitcoin and that will turn them into a risk taker and could possibly earn more money because of just taking risk.

[Drakula]

a lot of factors why bitcoin is not supported in some countries of which every country has its own laws, perhaps those countries fear will affect the stability of the currency there is in the country.

Yes, there are different reasons why Bitcoin is not supported in some countries and for me one of this is the government; maybe somehow, government disallo it because they can't control it, they can't collect taxes through it and some people uses it to crimes that's why they can't support Bitcoin.

[yasuoWasakey99]

Central banks do not enjoy competition for their monopoly on currency.  It's where they derive most of their power.

They want to have a sole control but they cannot control bitcoin so I can say it has become a threat to them.
People will use bitcoin even if they will ban it because as long as there is internet everything is possible online for a person who are satisfied with the decentralized system.

It was a threat in the way that bitcoins can be used for buying drugs online and it was very hard for N.B.I. to trace the transaction so the only way to avoid this illegal transactions is to ban bitcoins from circulating the country.

Some people strongly believe that Government is the illegal transaction.

I agree but other countries like my country has put tax on bitcoin that means whenever i cash it out i pay fees and i pay taxes so that is not a good thing but at least this way i will have legal money and i think from 1 bitcoin you could get 5k if you pay everything.

[learner 7]

I think the question is not correct. What do we mean by the word "country" - the government, the president or the people who live in this country?

[twicezeroiszero]

a lot of factors why bitcoin is not supported in some countries of which every country has its own laws, perhaps those countries fear will affect the stability of the currency there is in the country.

Yes, there are different reasons why Bitcoin is not supported in some countries and for me one of this is the government; maybe somehow, government disallo it because they can't control it, they can't collect taxes through it and some people uses it to crimes that's why they can't support Bitcoin.

It is wrong, they can tax the exchanger and miner anytime and U.S is one of countries are doing that.
As far as I know, if the government do not provide electric for Bitcoin's miner, how do the miner mining Bitcoin?
So, they can control Bitcoin anytime, as long as they want that or not! Neutral at now.

[Drakula]

I think there are some countries ban digital currency transfer, maybe they afraid that it would effect their own economy or they don't want their residents get involve in it

In my opinion, I think some countries do not support Bitcoin because the officials from government are against on it. Well, I think power  will always win when it comes to approval of that kind of thing before allowing to their country.

[cryptokitty]

a lot of factors why bitcoin is not supported in some countries of which every country has its own laws, perhaps those countries fear will affect the stability of the currency there is in the country.

Yes, there are different reasons why Bitcoin is not supported in some countries and for me one of this is the government; maybe somehow, government disallo it because they can't control it, they can't collect taxes through it and some people uses it to crimes that's why they can't support Bitcoin.

That is right, government will not allow everyone on using bitcoin because they highly believe that bitcoin my lead to corruption because they cannot control the transaction of bitcoin.

[deviant99]

Banning bitcoin means that they saw a potential threat to the country, maybe like that. The government wants to protect on what they need to in order to have a balance in their money. Since bitcoin can't control becuase of it volatility, they can't surely handle it. And for people using it may have a threat to them

[Winefwnetos]

I believe because of the fact that some countries do not want people to earn somewhere else and some governments do not care about their people and just do whatever they want they will come up with their own coin and let people invest in that.

[Hach]

I heard yesterday that morocco prohibited mining and dealing with digital currencies. I think it was for money laundry and smuggling money out of kingdom.

[BUK2016]

Most of the countries that don't support bitcoin or crypto currency in general believe it encourages money laundry or too much capital flight from their country which is contrary to the existing laws in their country and that may be the reason for not accepting bitcoin or crypto currency in those countries.