Why bitcoin is not supported in some countries?

[Christian13]

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

Maybe the reasons why some countries not supported bitcoin because of less paying taxes, economy will might slow. Anyway, government has some rules to follow thats why they will not giving their support into bitcoin.I think as long as you have internet connection you can use bitcoin anywhere. You know the government will never legalize bitcoin but that does not mean btcoin is not support in all countries

[lyks15]

I think some countries did not support bitcoin like in China and Philippines because bitcoin did not register to the any government agency like in Security and Exchange Commission, so that means bitcoin is not legal so when something is not legal the government did not receive any tax so they did not want bitcoin. And I think bitcoin can affect the flow of our goods and flow of our money. And worst is insecurity because bitcoin help all people who are willing to earn that is the thing that government that biggest challenge.

[Rostadom]

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 what's unclear to you is not only why bitcoin is not supported in some countries but a lot of things. First, bitcoin is not going to be supported by all the countries because some of the government are hungry for power and they will not allow a currency to just swoosh in their country and take away their power. Bitcoin is not backed by any commodity (good & services) and it is not issued by any government. That's apparently what they are going to say if they are about to do something against bitcoin. I've never really heard of the country that has declared 6 months of jail for using bitcoin. it's just a currency. There are heavier sins than this. It just makes them look more desperate.

I think it is not fair but nothing in this world is actually fair. Life is unfair.

You shouldn't be doing things if you don't fully understand it. You should have done more research about mining before you do it.

[AmeSakibimasu]

In some countries do not support bitcoin because bitcoin is risky and the government may not want the risk to happen to its citizens because it can cause a person to go bankrupt and lose all the money.

It is because of those scammers, that is the reason why the Government banned bitcoin in some countries, or the Government saying that it is risky. Honestly, we people are the one who is the one to blame, those people who are using bitcoin on illegal deeds so the effect is backfiring on us. It is like we are making our own ghost and getting afraid of it.

[ohkkstaaahp]

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 many countries do not accept Bitcoin because the domestic economy is not strong, the reason may be that the government is afraid Bitcoin will change the domestic economy, there may also be many countries are not looking. Accurately understand Bitcoin, but I think in the future Bitcoin will be widely accepted in many countries

[`abe]

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 many countries do not accept Bitcoin because the domestic economy is not strong, the reason may be that the government is afraid Bitcoin will change the domestic economy, there may also be many countries are not looking. Accurately understand Bitcoin, but I think in the future Bitcoin will be widely accepted in many countries

They are not supporting it that much because of the fact that it is not that stable yet and it is against every countries laws to support something that is not that stable.

[tyreII]

Some countries are just afraid of the potential of bitcoin when it comes to the financial industry. Corruption will definitely be lessen by it.

[DrYe5]

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 that some governments are worried about stabilizing their own currency. In my opinion, Bitcoin could partially support current currencies and help each other. Apart from the virtual coin, unemployment is decreasing.

[P3]

Yes really, Bitcoin is not supported by many countries of the world because many governments are afraid that most of the rich men in control of the finance will be affected. So they declare Bitcoin usage as illegal. They don't want loose the control they have on its citizens.

They are more worried they will not be able to actively monitor our funds like they did with banks. They are scared of decentralisation

[Omega Weapon]

Some countries don't support bitcoin because they don't get taxes from it and they recognized it as an illegal way to get money.

They can get taxes out of it, can you imagine the amount of money they can make if they regulate exchanges, the amount that exchanges need to pay, the amount that traders need to pay, the problem is that they will make bitcoin seem as approved and they do not want that, since that will mean that everyone could invest in bitcoin and feel safe they are not going to be scammed since governments will need to begin to regulate exchanges as well.

[bitzzz]

Some governments concern the bad impact of bitcoin. As in America, the case that bitcoin is used by terrorism to ask for payment frighten the us government for security.

[MrJake]

One thing about crypto is that, it cannot be easily regulated since it is made to be self regulating which is why poeple loves it. It bypasses middlemen in a conventional financial transaction.

[rasmadisulaiman]

Some issues of bitcoin misuse of criminal activity have triggered some countries still refuse bitcoin to be legalized. There are also countries that are still studying whether bitcoin can be legalized in their country or not.

[ZaynDale]

For me, I think it is because bitcoin users are unknown, unless they tell themselves. And because of that, government will find it hard to let bitcoin users pay for their taxes, unless they are honest enough. Aside from honesty, I could not find ways on how to determine how much a person own crypto currencies.

[mitabacut]

Maybe Because some countries in the world are afraid of bitcoin, some countries are afraid of the loss of virtual currency because there is a kind of digital currency like Bitcoin.

[Hopeful2017]

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 because their Government doesnt know about the idea of Bitcoin. Their economist are afraid that bItcoin will overtake their manpower. If eeryone in their country will do Bitcoin, then there will be no people to do other jobs. Moreover, their government cannot impose tax over Bitcoin and it will be a great loss on their economy.

[Al Amin]

Why bitcoin is not supported in some countries, maybe for some reason like in my own country the government forbids it for fear of bitcoin being misused for the crime of terrorist funds or embezzlement. The government may also be afraid of losing the value of their fiat currency caused by bitcoin

[genology]

Each country has their own policies regarding their money/currency and Bitcoin is not included in that. Another reason is the safety of Bitcoin. People don't know where it came from or who handles it. The government won't rely on that type of currency.

[Aryanto28]

my country is not supporting anything like drugs/bitches
bitcoin is accepted as well in my country so

You are very lucky if bitcoin is acceptable in your country. That way you do not have to worry about losing your bitcoin. Maybe in some other countries have banned it because of the smoothness of their transaction and economic system. and minimize the number of bitcoin-related crimes because it is undeniable that this bitcoin has tarnished its good name by unscrupulous people.

[akiraminai]

bitcoin can be seen as nuisance in some government aspects and some government organizations that has to do something with currencies like banks and lending companies. It's also not that stable that some are afraid to invest on it and think that maybe the price won't inflate higher and continue decreasing it's value.