Why bitcoin is not supported in some countries?

[tantimutz]

It does not have to do anything with risk. The reason why - because every country has an economic system and every government wants to control this system completely. With crypto they can not at all. This loss of control is unacceptable to most governments.

[zorchy]

In some countries, there is a ban on the exchange of crypts due to the fact that it can greatly affect GDP . 

[jeluhtajem]

ha ha ha
is there a country that opposes bitcoin in such a way? it's so funny
what they feared to do so
in my country bitcoin is not banned, the government only gives a warning, if investing with bitcoin has a very big risk. That is all
and each country has different rules

[Shimmiry]

I think some country are afraid of losing their deposits , Maybe the government does not trust the cryptocurrency and its technology. Yes its a risky one but it can greatly affect the economic status of ones country. Aside, it do not require tax to regulate and government will get nothing. I think in the future some will unbanned this if they are late coping with this.

[Turkish88]

Bitcoin not supported because government dont like when people doing money without paying tax.
Some try ban btc, but in near future i think government himself start using blockchains.

[adsaf4544d]

Limited supply and High demand is a natural thing for something of value. And obviously, due to the limited number, many people want to hoard Bitcoin, before the total supply is met. Because If the total supply of 21 million Bitcoin has been reached, the price of Bitcoin will rise dramatically. Probably faster than the current price increase.

[haster100]

I think the problem lies in the development of these countries and their legislative system. The more developed, the more restrictions.
Less developed, less awareness

[freshm4ker]

I think it's very profitable for every government to accept bitcoin at the same level as fiat value. Just think about how much goes into the pockets of government employees in this case, because every bitcoin operation will cost everyone every tax.

[MGmahesh]

I think it is determined by the existence of an interest in the country that may appear to be contrary to the prevailing policies, but it is influenced by the human resources factor which is considered rigid and inhibits the existing program, because it does not want the name, the service role its function is not valuable in the eyes of its people

[Vanshenz]

In my opinion, a country that does not allow the use of bitcoin thinks that bitcoin can threaten the country's economy, so they prohibit the use of bitcoin.

[mornabo]

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.

besides taxes of course the government has another reason why they do not legalize bitcoin in their country, bitcoin has a decentralized and anonymous nature, it makes bitcoin uncontrollable and may be detrimental to the government itself. imagine if the government's have biggest income from tax then many people doing money laundering in bitcoin to avoid taxes, of course the government will find it difficult to track it because bitcoin anonymous and decentralized

[russ26]

Each country has rules and laws, . There is a consideration that is certainly very important. there are some countries that do not use bitcoin, and some countries are using bitcoin. it is a right of every government.There are actually just a few countries where Bitcoin is actualy supported in legal way. All others are just tolerating or ignoring it or it's banned. The reason is probably because there is people still thinking that Bitcoin is something connected with illegal activities or tax evasion, that they think Bitcoin is threath to financial system or they simply just don't know what to do with it.

[piter66]

Proper education is the key so that people will start using bitcoin. I think those people who are against bitcoin are the ones who want to take control. They may have hidden agenda or objective that will benefit their own business or personal needs.

Obviously who doesnt want to control their people, if you control your people then you make a lot of money from them in taxes and shit.

[sailordgold]

some countries do not accept bitcoin because their government considers bitcoin will affect their currency. but i hope someday bitcoin can be accepted and supported by all countries.

[zzxswqq]

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.

Well cryptocurrencyisnt AS risky as people say it is. Sure it can go to 0$ but will it? Highly debatable. I definitely feel it wont go to that low or anything

[Samsungnumbertwo09]

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 they scared that criminals or bad people use bitcoin to do some illegal activity or againts in the government and they dont have a control or access in bitcoin hmm and bitcoin doesnt pay tax.

[BeEvil]

Because almost any polity (and goverment as instrument) is a way to oppress and manipulate the minorityof the majority. When people become financially independent (and all crypto currency owners aspire to this), they begin to understand this fact. In addition, all bureaucracy in most countries tries to regulate or to forbid all that they do not understand.

[Botnake]

Because almost any polity (and goverment as instrument) is a way to oppress and manipulate the minorityof the majority. When people become financially independent (and all crypto currency owners aspire to this), they begin to understand this fact. In addition, all bureaucracy in most countries tries to regulate or to forbid all that they do not understand.

If bitcoin will be popular all over the world we will see the real freedom, bitcoin should change the present financial system especially
transacting online because it's more transparent and faster using bitcoin, also the crypto market is growing and that means people supported this crypto currency.

[dontoromeo]

There are many authorities, security agencies and regulators that continue to investigate this world of cryptocurrencies. So they still fear them. And it is not reliable for them to introduce this method of payment

[daenarys_stormborn]

I think a country does not support the existence of bitcoin because the country itself is afraid of the existence of bitcoin which can have a bad effect on their economy, because the country is not ready to face the new thing, whereas bitcoin if it can be utilized by a country can even advance the state of the economy