Why bitcoin is not supported in some countries?

[Chainblock]

I guess those countries that doesn't want to be open minded about innovation is a country that can't foresee the future. I think Bitcoin would really unlock potential when applied everywhere. They are scared of people abusing it but it can't be abused in some cases, just how they are spent I guess.

[Wolf of Btrex]

If we look to the broader side, there are some countries that only tends to follow the global trend of developed countries. If majority of developed countries said no, developing countries as followers will say no too. Unsupported doesn't mean the state doesn't allow it, but the state refused responsibility for the use bitcoin every citizen.

[Heartseed]

I think bitcoin is banned or illegal to other countries due to the possibility of devastating the economy of that country. Due to the fast relay of money in the bitcoin. Earning a fast money by posting and doing things in the internet is bad for the economy of one country.

[Wolf of Btrex]

bitcoin is not supported in some countries maybe because they dont have much research about this virtual currency. they take it as a scam or just a risk for their current paper money. as it can substitute their paper money. and their paper money will have no value anymore.

[spooneds1]

I think it is not supported because other countries does not use internet as a payments, other country thinks it would affecr their paper bill and more upper ranks would use it to scam their people. You can not get tax from it.

[kissme09]

Bitcoins do not really help us as what people say, it's really risky and help the bad money so that's why many countries ban it.

[Wolf of Btrex]

I guess they dont support bitcoin since it may be use for illegal activities. And one important thing also is that they dont have yet enough knowlwdge what bitcoin really is.

[ice098]

I have heard about bitcoin that was being banned by other countries. Think about of it. Why other country banned bitcoin? Why bitcoin are not supported in some countries? I think the main reason why butcoin is not supported in Some countries becauae they think that it is risky. For them, bitcoin can affect their economy to fall down. They think that bitcoin is a illegal activities.But Some countries don't know that bitcoin have advantages and benefits that you can get. Bitcoin serve as job for us so that we can earn an extra income and we can save it for our future. Some countries think that it is too dangerous and bitcoin is not their priority. They have their own way to to earn money why did not support bitcoin.

I think because their government dont allow it to their country, it because bitcoin is decentralized so it cannot control by any one even them. Also they think it illegal and can use in crime that they cannot trace by authority.

[chip211]

Many countries are feeling the bitcoin hindering the development of their country, for example, in the case of china a few months ago china had to ban bitcoin in their country and shut down many altcoin exchanges here.

[chadtn]

They are afraid of being bitcon more popular than fiat money of country. Also they cant control crypto that's why they do that.

[marlonbatotoy]

I think it's not about not supported.. it's because some people dont know about crypto .. event government doest know about this and the lawyer.. they only hear bitcoin but they dont know how to use it or what it is .. but i heard there's country that banned bitcoin .. but i think bitcoin can step other company so they ban it..

[cutecute]

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 some country because they look at it just like a gambling or scam. They don't know what is the advantage of bitcoin they only look the disadvantage of it. But for me if we will let them to know all the information of bitcoin or tell them the process on it, if they know that bitcoin can help many people they will approve it and it can be legal worldwide.

[777Jolami]

Maybe because those countries do not want to control them. It is difficult to control bitcoin. Maybe the criminals in that country are growing. And bitcoin helps crime groups quickly launder money,

[freedomgo]

Maybe because those countries do not want to control them. It is difficult to control bitcoin. Maybe the criminals in that country are growing. And bitcoin helps crime groups quickly launder money,

That is not the reason I think, bitcoin is just a system and as long as the government has the tool to regulate bitcoin then they can easily
combat illegal activities taking advantage on the system of bitcoin. If big countries has the ability to regulate bitcoin then I think it's also doable with some countries even if it's a small country, the government need to understand bitcoin first before they judge.

[royromales]

Countries fearing that Bitcoin will make their economy go down because most of them are almost unlucky with bitcoins so bitcoins do not support them because they do not seriously take bitcoin

[RakknRoll]

because most of the other countries do not need bitcoin because they have their own businesses.

[dangdangdang]

Those countries that do not support bitcoin are more concerned about their economy to go down. Since bitcoin is users are unidentified, it will be hard for the government to run after for the tax. If most of the citizen are using bitcoin, then their economy will really starts to go down, unless all are honest about their declaration of bitcoin.

[acener]

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 guess there are still countries who are reluctant about the whole idea of bitcoin because they fear about the outcome for implementing bitcoin in their respective countries. Some countries also sees bitcoin as a threat to their economy and for the people to no longer apply for big companies and factories because they have another means of earning money.

[Lucian9]

since BTC is something relatiively new and by this I mean that not ever before have so many people around the globe been intrested in it and start using cryptocoins,many countries do not know how to manage it in a legal and financial way. Many maybe consider it a good way for money laundry and want to block such actions. Others have no clue of the thing and do not want it to take control of the market before the govs become experts themselves. An other reason may be...the Banks. With BTC you have no need of the banks, unless you have a good amount of btc and want to cash out, but, ig btc is the future as many hope and believe, the way it works leaves the banks in the outside, only fees in exchanges on the internet are gaining. So the banking system as it is now, would really hate if all the transactions are made in btc cause money loses all its value and so do banks.

[Snub]

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 guess there are still countries who are reluctant about the whole idea of bitcoin because they fear about the outcome for implementing bitcoin in their respective countries. Some countries also sees bitcoin as a threat to their economy and for the people to no longer apply for big companies and factories because they have another means of earning money.

I agree, the states of the countries don't know what they will do with this technology and how this will affect the economy of their country, because it is easier for them to prohibit and not support than to try to introduce something new and find in this positive moments and development