Why bitcoin is not supported in some countries?

[rhayot]

Bitcoin is not supported by other countries because they think bitcoin is a scam and can manipulate the other currencies that they are using. Government thinks that bitcoin can be a leading currency and the other currencies such as euros and dollars will be wiped away.

[FreelancerCoin]

I believe one of the biggest reasons is that they want to get a tax before making legal.

[randyg29]

Because they only see the negative sides of the bitcoin. They only say that the bitcoin is really bad and illegal. That is the main reason why many governments in different countries is against the bitcoin.

yes I agree with that idea they only see the negative side of bitcoin they don't even give a try bitcoin HW it works and help people in they're daily needs and it can improve also the economy.

[Coin_trader]

Why Bitcoin is not supported in some country? Because bitcoin and other cryptos are decentralized and the government could not control them, they could not get any revenues from them and therefore they have see them as a thing with no financial benefits for the country.

[Sall-Mo]

There may be many reasons, for example, BTC is not a legal tender, can not be centralized management, may also affect the legal status of the dominant currency. And BTC is a virtual currency, vulnerable to hacker attacks, criminals will also be used for money laundering and other criminal activities. These reasons cause some countries do not support BTC it.

[Restmand]

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 why there's aome countries don't supported because they'd think it is illegal and it is only used for bad doing. But others think that the bitcoin is an big obstacle for the governments. They don't think about the positive side and positive benefit of the bitcoin they all think about the negative side so that they afraid that they're countries will be part of the one of the world bad countries and because of the bitcoin is decetralize theresl's no one to contact ig the bitcoin have problem because it is untraceable

[noodleasprin]

It is not supported in certain countries simply due to the fact that the government cannot interfere with this However, the ban will not really be effective since usage of bitcoin entails anonymity.

[KalaiBTC]

Simple answer because of high in return for the investors with no tax and only bitcoin is the one offering this kind of big return in favour for the investors.

Governments are all the time trying to collect maximum money from public in the name of taxes which they can use in wars against innocent people. Bitcoin is simply a currency made for public and this is what governments don’t like. They don’t want people to live a life of full independence and freedom. They simply want people not to enjoy financial freedom but some states which are sincere with their people have made it legal.

[ringgo96]

It is not supported in certain countries simply due to the fact that the government cannot interfere with this However, the ban will not really be effective since usage of bitcoin entails anonymity.

yes indeed the government can not do anything to bitcoin at this time, so many countries are still hesitant to bitcoin, they think bitcoin is good or vice versa, hence the government is more anxious.

[lance04]

Not all countries are well develop and civilize; aside from that many of their people consider cash-based system and I think that is the reason why many countries not support the bitcoin.
They are not capable enough for this opportunity as of now but I am looking forward that they will accept it soon

[ubay]

That's because certain government and state banks ban bitcoin, but we do not have to worry, someday they will support bitcoin.

[Manchumichael]

That's because certain government and state banks ban bitcoin, but we do not have to worry, someday they will support bitcoin.

Nope we have to take this serious, now many countries state governament is planning to ban bitcoin and also if they do not ban they will plan to put a tax on bitcoin transaction. any of one rule definitely it will come in future. why means the reason is simple no income to governament.

[Qartersa]

It is because Bitcoin is a threat to the level of control of governments to their respective territories. With Bitcoin and its correlative features that can hardly be regulated or controlled efficiently, governments across borders tend to see it as a medium to proliferate illegal causes whilst doing away with certain governmental regulations such as proper taxing, licensing, and etc. Hence, the fastest way to do away with such is to ban Bitcoin and any forms of transaction that has to do with it.

[haxker007]

Countries would rather not simply ahead and enable a cash to equal their own as it would seek utilization. In addition BTC is something or other that must be vigorously received before individuals simply ahead and begin utilizing everything the time in a regular person condition.

[Argoo]

For the present, some countries have not decided how they treat bitcoin and crypto-currency in general. In many states, governments do not understand the nature of the crypto currency and are afraid of it. They explain their decision on the prohibition of crypto-currency in different ways. In China, for example, they said that the crypto currency is a threat to the country's economy, because significant amounts of money can be withdrawn from the country through the crypto currency.
    On December 18, bitcoin was completely banned in Kuwait. Since this happened at the last peak of the price growth of bitcoin, when it reached the rate of 20,000 dollars, it seems that this country was frightened by the uncontrollable growth of the bitcoine price and how this growth will affect the economy of the country.

[daarul50]

Because a government in a country thinks that bitcoin can paralyze the country's economy primarily from state revenues, it is due to the decentralized bitcoin nature that no one party can control bitcoin including government in a country

[beezare]

maybe some countries that do not support bitcoin want to protect their citizens from losses caused by bitcoin because as we know bitcoin has a big risk with the price fluctuate and unpredictable, so will be at risk to lose money

[jikurpa]

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

your question is pretty good about why there is a country that prohibits bitcoin and is it fair, it is likely the country is afraid of inflation on the country's economy or the country is afraid of a bad deviation to bitcoin users if in my opinion

[Rosilito]

It might be fear of using by citizens in a unlawful act such as hiring people through internet to do such unlawful. Well, it has been long time ago with that issue occurred may be some of those countries cannot moved on to those issues. Also, they may be does not want their citizen to experience loss their profits, money they have invested or even to get scammed through bitcoin they simply put safetyness of the profit of their citizen. Lastly, I guess they feel that bitcoin will replace their own currency or may be it might be get devalued, to the point that they ban cryptocurrency on their own countries.

[ajiejot]

Because some government in particular countries are corrupt. Since bitcoin don't have any tax, they could easily ban bitcoin in their country, thats why some country don't support bitcoin. But also there are some reason why they don't support bitcoin because they know there are many crimes on using bitcoin as payment.