Why bitcoin is not supported in some countries?

[ashlyvash00]

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

  Because many country they think that bitcoin is a scam.they didnt even investegate if that is true.They just judge it.But there country accept bitcoin there government start to put some taxes on bitcoin.We all know bitvoin have a big help in a growing economy...

[HSRP]

There are some governments that do not accept bitcoin because their government is concerned that it will have a negative impact on the economy and does not allow Bitcoin because of the complex tracing system that any illegal transaction entails. can happen and Bitcoin is something that is competing with government money. I think, right now, the only country officially accepting it as a legal form of payment is Japan.

[X2PR8888]

I think bitcoin is not supported in some countries because it is not as popular among its citizens and because the popularity is not as much, there are not enough platforms that support transactions using bitcoins or altcoins.  Governments do not see the point of making it a norm in countries like mine because we only have but a fraction of people here who is into bitcoins.  It is because of this that our transactions are very limited to just tradinng and investing.  We have one wallet here or app which lets us convert bitcoins first into cash before we can use to purchase items like prepaid cards or to pay for utilities like water and electricity.  In my country, they are not banning the use of bitcoins but they are not exactly supporting or promoting. it as well so my thought centers around thinking that we have such an old school government that is a bit rigid with technological and financial advancements like cryptocurrencies that's why a change like this is not encouraged at all.

[syntac]

There are some countries that currently do not accept bitcoins. Perhaps the reason is that using bitcoin is too risky because of frequent fluctuations, bitcoin is also feared will be abused by residents of the country. But I think it's too naive to resist bitcoin, because in my opinion bitcoin brings more profit than loss.

[AmericanBit]

We discussed this issue in different topics the summery is that some countries are not able to support crypto, there economic is not ready for this.

[bytomboy1234]

We discussed this issue in different topics the summery is that some countries are not able to support crypto, there economic is not ready for this.

yeah you are right they are afraid because they think that if they allow it in their country .then it will effect their economy.for the sakeprotectionism of their national currency, to building a new currency in bitcoin’s image. The list, in general, is not much above ten, but that is subject to change, as many countries have not made an official decision for or against bitcoin. Some are banned by the country’s Central Banking system, some are banned by the nation’s government, and in many countries the Central Bank and national government act as one and the same

[BtcBling]

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

Every country has their own rules and regulations, and it depends what the government thinks on cryptocurrencies. Indonesia banned Bitcoin and other cryptocurrencies because of 3 factors. The 3 main factors are there are reports that Bitcoin and other altcoins are used to fund terrorism in their country, the second one is it shows that there are reports that dirty money has been traded in exchange for Bitcoin and the last one are they cannot control anonymous trader, buyer or user of Bitcoin to pay taxes.

[ys fs]

because bitcoin is  not supported by some bank in the world, and also bitcoin is also illegal because it is not supported by major bank banks in the world....

[shasimiky]

There is a risk that it could be used to fund crime or illicit terrorist activity — another reason is that it can be a route to circumvent capital controls .  ICOs were a threat to the financial markets’ stability. that is reason which some country ban bitcoin

[bitcoinskyrocket09]

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

Many country are now believing and supporting bitcoin because they see it's potential that can help so many people in their problem in financial and can lead people to their better life. But there have some countries that not supported bitcoin because they see it as a treat in their economy and they think bitcoin is use in scum to get their peoples money. They don't support bitcoin because they don't know much what is bitcoin and their central bank are against to it.

[HalfDeck]

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

Many country are now believing and supporting bitcoin because they see it's potential that can help so many people in their problem in financial and can lead people to their better life. But there have some countries that not supported bitcoin because they see it as a treat in their economy and they think bitcoin is use in scum to get their peoples money. They don't support bitcoin because they don't know much what is bitcoin and their central bank are against to it.

Right. What countries did not accept Bitcoin do not know the concept of cryptocurrency. Some people thought Bitcoin is only the digital currency, but they do not know the concept of digital currency and cryptocurrency are difference by the nature - centralized and decentralized.

[NoNetwork]

There is a risk that it could be used to fund crime or illicit terrorist activity — another reason is that it can be a route to circumvent capital controls .  ICOs were a threat to the financial markets’ stability. that is reason which some country ban bitcoin

Well, in the past it has been used in the deep web, as its currency. Not to mention all of it is illegal. But since the currency that day is not as significant as now, we may have done the same. About the terrorists? I highly doubt that. True, because of the cryptos being volatile and decentralized, countries might either ban it or adapt it (most of those countries banned it).

There are some countries that currently do not accept bitcoins. Perhaps the reason is that using bitcoin is too risky because of frequent fluctuations, bitcoin is also feared will be abused by residents of the country. But I think it's too naive to resist bitcoin, because in my opinion bitcoin brings more profit than loss.

The reason behind this frequent fluctuations is because of its volatility, as we know all the cryptos have this characteristic. We might think that this is a disadvantage but no, its the opposite, especially for Bitcoin.

We discussed this issue in different topics the summery is that some countries are not able to support crypto, there economic is not ready for this.

Its not that they're not ready for this, just because of the economic state, its because the country wouldn't be able to gain profit from this as it is a decentralized currency after all.

[weblouartisan]

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 supported and can be circulated on different country but the only problem is, some of the governments are hindering it to happen. Most of the governments are corrupted and they are afraid for their people to become wealthy and no one will work on the corporate world while some of the banks are also being affected because most of the consumers are turning to cryptocurrency rather than placing their money on banks.

[CryptoPsycho]

It is not profitable for those countries if they baned bitcoin. Every country want to recive taxes from citizens and also have information about money transactions.

[Zabrielle]

I guess every country has its government or policy rules to follow. Its not that they dont support bitcoin there are maybe a state rules thats why bitcoin cannot just penentrate in a certain country. Maybe they are strict due to terrorist attack. Bitcoin is decentralized, knowing that they cant trace the orwner of transaction and whats the transactions is all about. Every country is just being carefull for the safety og their fellow countrymen.

[haroldforgan]

Bitcoin is not supported by goverment in several countries      because they want to control the money and Bitcoin can not be controled because it is decentralized
and business that's the number one reason why other nations is not supporting bitcoin, They think bitcoin can affect their business economy

[Rozita]

Bitcoin is not supported by goverment in several countries      because they want to control the money and Bitcoin can not be controled because it is decentralized
and business that's the number one reason why other nations is not supporting bitcoin, They think bitcoin can affect their business economy

Better not to say several countries. Better to say all the countries. I don't think there is any government want people to make transactions that cannot be tracked. Even if a government have not ban bitcoin till now for sure the government want to ban it or regulate it.

[mx667]

I guess every country has its government or policy rules to follow. Its not that they dont support bitcoin there are maybe a state rules thats why bitcoin cannot just penentrate in a certain country. Maybe they are strict due to terrorist attack. Bitcoin is decentralized, knowing that they cant trace the orwner of transaction and whats the transactions is all about. Every country is just being carefull for the safety og their fellow countrymen. It is not profitable for those countries if they baned bitcoin. Every country want to recive taxes from citizens and also have information about money transactions.

Some people say if the state wants Bitcoin control. Some say that the state wants to take advantage of Bitcoin. Some others will say that the state considers Bitcoin as something illegal and can create a crime. That can happen because Bitcoin can be used to transact in the black market and can be used for money laundering. That's because we all know that Bitcoin transactions are not limited by anything. We can transfer anytime and anywhere with any amount. We can also transfer as much as possible with Bitcoin. We can be a bank for ourselves and therefore, we can be free from government and banks. Maybe that's why the country does not like it.

[viarathel]

Bitcoin is financially well-known to its users, but not all countries can accept bitcoin development, including in my own country, and in every country have different policies, and I think bitcoin is worried about making the state money down and also the state can not guarantee if things go wrong

[JesusCryptos]

Bitcoin is not really supported anyway but Bielorussia. Yes, Bielorussia has recently announced that it will encourage Bitcoin related companies to settle in Bielorussia, and that it recognizes Bitcoin.