Why bitcoin is not supported in some countries?

[Jafri101]

Because every country has not legalised bitcoins so far. I know many countries where the govt has still taken no actions on bitcoins either in favor or against. But people still working on bitcoins.

[Pepito Manaloto]

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

Surely, there are lots of reasons. But here are some major concerns with Bitcoin's legalization. I only know a few. One is, Bitcoin's volatility. Bitcoin is volatile in nature, fluctuations on its value is normal so backdrops are also expected. The other thing is that, Bitcoin in the first place is decentralized which means it is not under any form of government which I think is the main reason.

[Crypto_TheOne]

I think sooner or later each government will need to decide on bitcoin - whether to "approve it" or make illegal - and naturally authoritarian governments tend to forbid everything they do not understand "just in case" while more democratic try to accommodate. Nevertheless there will be more and more regulation of bitcoin and cryptocurrencies in general - which is not necessarily a bad thing...   

[virtualkeybuyer]

Its a big fact of bitcoins.As you know nobody's can control the bitcoin so some people start using for scamming money laundering and drugs. Believe me there's some disadvantage of bitcoins and due to the reputation some countries start banned it. But then the world does not end here. We need to think how can we overcome the disadvantages of bitcoin and use it for good purpose only.

Yes the basic reason why some countries not believe on Bitcoin is that they are knows the advantages of Bitcoin very well but the policies of their government is that the all the control in the hands of government. Because Bitcoin is decentralize digital currency. This is contradicting with their policy that is the reason they banned Bitcoin or not believe on it. The second reason I feel that the lack of awareness about the technology.

[VINCEAKTN]

Countries that do not accept bitcoin are countries that are not able to regulate the crypto regulation as a whole. Why? because money laundering and anonymous contradict the economy and the constitution of the banking world, if bitcoin is legalized then the government can not prevent the wider crime alias the destruction of the inside, from the small and medium sectors can appear many illegal transactions including drugs. Destruction is more severe for officials because it can launder the proceeds of corruption and do not need to bnp paribas etc.

[yuto7]

There are people who fear a bit coin. Why are you afraid? That's because the vested interest is threatened.

[RKSummer]

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

Some countries does'nt support bitcoin, maybe because their government can't collect any taxes from the transaction that is made through by bitcoin. And they are afraid that their people might use bitcoin in some illegal activity such as money laundering, buying drugs
And because bitcoin is a decentralized currency, they are afraid that they can't control the fast-growing nature of crypto world.

[DoublerHunter]

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

Some countries does'nt support bitcoin, maybe because their government can't collect any taxes from the transaction that is made through by bitcoin. And they are afraid that their people might use bitcoin in some illegal activity such as money laundering, buying drugs
And because bitcoin is a decentralized currency, they are afraid that they can't control the fast-growing nature of crypto world.

Tax is one of the reason why they are not accepting or supporting bitcoin because it is such a loss for them if they can't collect or get some taxes for the people who are using bitcoin. I also agree with you for saying that bitcoin might be the gateway for the criminal to do more illegal stuffs and it will result for having more criminals in that country.

[tamsak21]

bitcoin is not supported in other countries because they are afraid that bitcoin will disappear in the near future. and because government cant collect taxes from bitcoin

[Mjeramirez]

Some countries do not support bitcoin due to the issue of taxation, the government will only survive through people’s taxes, Why would a government support something if they benefit from it or may become harmful to them. Another is with the issue of security, bitcoin as we saw, can be used as a conduit to transact money from illegal sources like sindicates, gangs and cartels.

[Adv Tahmina]

Bitcoin is not supported in some countries because their laws.Each country have their own policy.some people were using bitcoin for money laundering and drugs.Actually  those countries not getting any tax fir such online money so they banned bitcoin.

[Wexnident]

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 only thing that we could do is to patiently wait for Bitcoin to be legal in most of the countries. There are lots of factors that pushes some countries on not to make it legal YET. But as time flies, and more countries are make it legal, same thing would probably happen with the remaining countries once the success of Bitcoin is seen to some.

[qwertyup23]

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

Why would a country accept a form of payment that cannot be regulated, thus imposition of tax is impossible? Relatively, most governments view bitcoin as a hindrance to their development. They cannot fully control it, thus it may be the perfect payment under the dark web for illegal goods and services. Though bitcoin may seem dangerous, we cannot hide the fact that the opportunities and benefits it provides to individuals like us are undeniably good. It gives us an alternative way of earning money with the convenience and flexibility of time.

[nextcrypto2401]

bit coin trading is completely online based platform. its has no human or intermediary involvement or interference. the transaction moves automaticly from the instruction of owner. Being a decentralized platform movement of money there is no control authority to restrict transaction for such reason some countries central controlling authority do not Considered as standard trading. if all money has been moved from central bank and all money inflow suddenly central bank cannot control inflation of deflation. another reason is some country central bank preserve tight monetary policy in which  movement money cannot be traced which underlying main reason bit coin trading is not welcomed by some country.    

[Lannie25]

Actually many countries promotes and use bitcoin in some commercial trasaction all over the world. Some counties are not accepting bitcoin not just because they think it will bring conflicts from them or it is illegal;
the main reason why some countries not accept it is they are not yet capable off to accepting this kind of innovation in their country.

[Chainblock]

In some countries there is a lot of instability, economic and political, especially in countries where government imposes many limitations on the economy. In these countries, governments fear Bitcoin because it can cause them to lose even more control of the situation.

[Trela]

Actually many countries promotes and use bitcoin in some commercial trasaction all over the world. Some counties are not accepting bitcoin not just because they think it will bring conflicts from them or it is illegal;
the main reason why some countries not accept it is they are not yet capable off to accepting this kind of innovation in their country.

Not sure, most of the countries are fearing the growth of Bitcoin will make the economy of their country be unstable. Look at the price of currency on forex market and the price of stock on stock market, both are limited the volatility by the community and the government can affect or even control this volatility. But with crypto, they can not do that.

[xsaints128]

Some countries do not support Bitcoin because they see it  as a threat to their own Fiat currency. If everybody starts using Bitcoin or other cryptocurrencies for payment and everything then who will use Fiat money? Moreover bitcoin's decentralized, and the government can't control it so many countries don't accept it. The government just bans everything which it can't control.

[necromastery]

In my opinion because there is government that doesn't accept a coin whose prices are erratic, experienced an increase and decrease in a short time to become like fiat money. This will only cause harm between buyers and sellers.

[Freddyclose]

some countries are afraid of bitcoin, because it is not controllable so they prohibit the maximum are use, conversely much the home the arms wide open