Why bitcoin is not supported in some countries?

[Thecryptocurrency09]

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 number one reason I have seen for some countries who wasn't allowed to use bitcoin is the fact that government can't control it. Its publicity cannot be manipulated by any sector. Specially in mining, where lot of bitcoin is gathered and collected. Knowing tax could not be accommodated in it. Just be thankful that you are currently allowed to use it.

[cryptobengal]

From what i understand , Bitcoin is not legal, or not recognized in some countries , is because the bankers who control the governments are afraid of losing power
 and try to scare the people from using it. typical behavior , from these scum. they know there time is up.

[Mariela]

In my own opinion.. Some countries dont support btc.. They think that btc are threatening their currency if bitcoin getting stronger everyday there are posible bad effects to their economy.

[maynguyen]

Each government has it's own view of bitcoin. Many countries do not accept bitcoin because the government does not control the development of bitcoin. Bitcoins affect the interests of banks.

[mulia tani]

every country must have its own rules / laws, maybe there is a country that is afraid the country's economy is declining and they think btc threatens their currency to lose

[Nunoluck]

every country must have its own rules / laws, maybe there is a country that is afraid the country's economy is declining and they think btc threatens their currency to lose

Correct, there are some countries which do not ready to adopt cryptocurrency especially bitcoin. Some of those countries are afraid about the extreme fluctuations price of bitcoin. It's fine but if there is a country which pretend bitcoin as a scam then that country is fals.

[matthewogus01]

Every country has a different monetary policy and being that bitcoin is decentralized, makes it hard for the government to control the said currency. Furthermore, regulations and authorities differ from every country which can hinder bitcoin from being a welcomed currency.

[megalith07]

As to governments, the reason is this conflicts with the present model of energy in the public arena. Regardless of this I don't see numerous nations forbidding the utilization of the cash, they want to disregard and not give exposure. With respect to all in all I believe it's still early days. Albeit many individuals approach the web and many wellsprings of data despite everything they have not understood the requirement for a cash to take care of the issues that exist in fiat money.

[haster100]

Each country has its own opinions and laws, for example, China, mainly because of the currency, other Asian countries because of how difficult it is to track and regulate them, as well as to distinguish people without understanding BTC and much more for advertising.

[jazmuzika217]

Thats because theyre probably protecting their consumers and native businesses. One of the most fascinating attribute of bitcoin is it is non-traceable. And that also could be the reason why government tend to ban bitcoin from their country. People can buy goods using bitcoin but the government didnt catch any of those transaction to make it taxable. We all know that the all revenue of a government comes from tax, bitcoin is non-taxable also thats why they didnt earn single penny out of million of transactions around their country and I think thats disturbing for them. And last but not the least, government controls a bank. Which means if all of their constituents uses bitcoin, theres a tendency that they trusted more the bitcoin than the banks thay may results on closed banks. And the government didnt want that to happen coz we all knew most of our government people have their shares of stocks in banks.

[marcuslong]

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.

Well, yes. Bitcoin users are unknown, unless they tell themselves. Bitcoins are unknown because Bitcoin is anonymous. It is anonymous because a bitcoin user can tranfer and transport a lot of money in just some clicks. It also cause Money Laundering. Bitcoin is not controlled by the government, so that, bitcoin don't pay taxes in every transactions and it is running in the world with anonymity. That's why bitcoin is not supported in some countries.

[NJB18]

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.

Well, yes. Bitcoin users are unknown, unless they tell themselves. Bitcoins are unknown because Bitcoin is anonymous. It is anonymous because a bitcoin user can tranfer and transport a lot of money in just some clicks. It also cause Money Laundering. Bitcoin is not controlled by the government, so that, bitcoin don't pay taxes in every transactions and it is running in the world with anonymity. That's why bitcoin is not supported in some countries.

Governments can still impose taxes on crypto by their gateways. But what really bothers them are possible money laundering. Bitcoin is already popular in deep web which is of course not cool on governments. Terrorism and countries like North Korea are also possibilities why these countries will never tolerate and as much as possible will try to control this technology.

[spyerf]

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.

That may be one of the reasons why there is a ban on the use of bitcoin, or maybe because bitcoin transactions are difficult to trace, so the government is very scary when bitcoin is used as a crime-agent tool. In this case it is difficult, because bitcoin has good and bad consequences. and there are still many good people who also benefit from bitcoin as an investment tool. This is what causes a country that prohibits the use of bitcoin as well as some who allow it.

[cryptoquality]

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.

That may be one of the reasons why there is a ban on the use of bitcoin, or maybe because bitcoin transactions are difficult to trace, so the government is very scary when bitcoin is used as a crime-agent tool. In this case it is difficult, because bitcoin has good and bad consequences. and there are still many good people who also benefit from bitcoin as an investment tool. This is what causes a country that prohibits the use of bitcoin as well as some who allow it.

I think I'm not agreed with you guys. In my opinion the reason why some countries does not support bitcoin or generally any other crypto currencies is totally about taxation issues. As tax is the main food of every country and they still didn't figure out how to get tax, they are not supporting it.

[vkwame30]

Some countries are hard on drung and anything illegal. Bitcoin as anonymous currency is used to facilitate such trades by some bad guys. That is the governmetn of those counties dont support it.

[Sum24]

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.

Bitcoin will be supported by the rest of countries because biotin is fast growing currency in world and as some countries accepted bitcoin the rest of countries will also accept bitcoin and the countries who accepted bitcoin they also take their time to join because may be they want to see the result of bitcoin in those countries who have accepted bitcoin it’s such a currency which can reduced unemployment and also it can help them in their economy.

[accm092]

Their countries , their laws.  It really depends on your definition for not supported too . If we speak about banning then as far as I know I don't think there is a country that actually banned bitcoin , at least nothing official and If there is then Its related to the banking system with one way or another . If its about the lack of usability in ATMs , local shops then there are plenty of countries and It takes time as some countries have more priorities .

I agree about your statement, i heard that some of country like Alegeria are now passing a law to ban using Bitcoin this 2018? probably because there is  no bank regulating the BTC?
Hence, the number of countries which you can use bitcoin are higher than not, it only depict that Bitcoin have their use on digital world and each country.

[hibiscus]

 Some countries don't support bitcoin because they do not understand how the country can benefit and they believe that it may cause the development  of the country or will affect the economy.One cause for not  supporting is that Bitcoin is a decentralized digital currency  and no middleman is there to control it only internet connection is needed.So some countries are trying to ban due  to this scary reasons.

[tanjiran]

Simply put, no government can control bitcoin. Some governments seek to protect citizens and the country's economic stability as well as its country's security from the negative impact of bitcoin misuse. They still do not have the right way to handle the problem, so banning bitcoin is the only option.

[BitPlace]

I think, bitcoin is not supported in some countries, 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.

I disagree on you. Bitcoin will be supported if they will understand what bitcoin is all about. Government right now didn't accept bitcoin but maybe in the future they will accept it. Bitcoin can surveive because people are still using it right now. Bitcoin also is very useful and continues to help many people to gain through online.