Why bitcoin is not supported in some countries?

[Noelbetty12]

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

There are so many reasons why they banned bitcoin. But if we are going to look at the general idea it could lead to the main idea, the security of a nation. How? (Terrorism and crimes)When bitcoins are used to finance terrorism and other illegal activities, (Economic security or balance) when bitcoins causes economic disturbance due to hacking, fraud and tax evasions. These are the things they fear about and because bitcoins are privately run they have no hold of the transactions and therefore in their terms needs to regulate it. Maybe they are not looking for more options as bitcoins are easily dismissed when in fact a bitcoin is as good as the real currency. Maybe they need to rethink banning as an immediate solution.

[Pinoyfan]

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

For some reason they do not trust bitcoin. Bitcoin is not supported by other countries because the government cant control it. Some countries want to supervise all business in their entire country. But bitcoin charateristic cannot control or manipulate by government.They say that when you are scammed you cannot put claims to the police because of unknown personalities of user.

[yomarve]

Countries differ in regulatory practices. You don't have go against the law else you suffer for it. But now nations are coming up to speed on it. Any country that creates it's own cryptocurrencies is somehow adopting bitcoin.

[Kuya Kim]

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

I think the reason why other country like mine is supporting bitcoin is the idea of bitcoin is really helpful when it comes to earning profit. In fact those unemployed can use or already using bitcoin as they're source of income. So it is very helpful that's why every user of bitcoin in every country supporting it.

[Jenn09]

Maybe because other country is so strick in terms of engaging with foreign currency that can also affect their economy. I guess they didn't want to engage their country in crypto because they can control of the currency when it will stabilized in their country they are afraid of they become left behind.

[Matildada]

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 its own policies and laws. In some countries their economies are so backward that they do not understand bitcoin and believe that bitcoin is a hoax. If you recognize the legitimacy of bitcoin, accept bitcoin transactions. When bitcoin crashes, it will destabilize the country's economy and prevent them from running the country.

[aoebtc01]

Bitcoin isn't like the real money, controlled by goverment, large banks, or any organization..
You can access in Bitcoin everywhere in the world by internet. And Bitcoin's price can rise or down incidentally, not based on any rules.
This is the way for Illicit activities such as money laundering, tax evasion..

[Bacotan Bae]

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

I think the reason why other country like mine is supporting bitcoin is the idea of bitcoin is really helpful when it comes to earning profit. In fact those unemployed can use or already using bitcoin as they're source of income. So it is very helpful that's why every user of bitcoin in every country supporting it.

Many countries that are concerned about cryptocurrency development especially bitcoin, they think that if bitcoin users continue to increase and the global community continues to emerge then they automatically leave the fiat and prefer the bitcoin.

[Sar elok]

The Government of a country represented the President or Prime Minister. Any President or Prime Minister has the right to decide any matter or issue that developed in her own country. Why does bitcoin is prohibited? They had their own considerations and has consulted with related fields to complete the problem or the issue. We as good citizens, we are obliged to follow

[diegz]

Bitcoin isn't like the real money, controlled by goverment, large banks, or any organization..
You can access in Bitcoin everywhere in the world by internet. And Bitcoin's price can rise or down incidentally, not based on any rules.
This is the way for Illicit activities such as money laundering, tax evasion..

I am sure that countries/governments will come up with a solution for that problems. Look at the exchange, they are now abiding the rules given by their central banks, they are now asking documents for verification . Who knows, one day they will again revise their laws so it is flexible enough so they could adopt bitcoin without any problem.

[vebby]

I think many countries do not like cryptos because of the perception that it makes dodging taxes easier. Aside from that governments are mainly concerned about things like ICOs  and cryptos being used for evading capital controls, facilitating money laundering and other crimes.

[sudah_wisuda]

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 the electric bill, my room temperature goes high and I get paid. With actually no skill on pc hardware and software. The whole thing is still pretty unclear to me

Bitcoin is not supported in some countries because the Government of the country does not want it if people prefer Bitcoin over the currency of the country. Moreover, Bitcoin is nothing to manage and its fluctuating price is very risky for its users. The government is only worried if the people suffered huge losses due to using Bitcoin.

[ThompsonUI]

The reason why Bitcoin is not supported in some countries is because of the country's laws and the regulatory authorities. So many countries are silent about it.

[RAMSHIVDEEPAK]

there are lot of reason due to which some countries are not supporting BITCOIN,SOME of them are here:
1.Anonymity,So this can be used in illegal work,
2.Country is not fully ready for cyber attack,
3.Gov. central bank does not want to loose their control from currency,

[MadelynCohen]

because crypto currency is affecting the economy of the countries 

[Jian_Liux]

Each country certainly has its own legal rules, and some of them do not support the existence of bitcoin. I see this is due to the volatile nature of bitcoin and the lack of awareness among the people, especially because of the decentralization of property. It may be that some countries do not support the existence of bitcoin.

[Ethan112]

Most major countries in the world also adopt a cold attitude towards bitcoin.What government actually don't like about bitcoin is that they can't have full control over bitcoin transaction or better to say they can't take tax on bitcoin transactions. Government love tax so they don't love bitcoin.

[Marco Ambrusini]

Bitcoin is anonymous government will not allow bitcoin to be a digital currency basically if they do that they are allowing illegal transantions in there country ofcourse they will not allow a currency that cost a lot of dollars we cannot afford such a high amount.

[Max79]

In the beginning it was a problem that some countries were against Bitcoin but now I think every country have people who are using Bitcoin without any problem .Countries can not recognize and open up an uncontrollable trading platform, will undermine the interests of the state.

[Marco Ambrusini]

Bitcoin is not supported by government in several countries because they want to control the money and Bitcoin can not be controlled because it is decentralized.
Most of the big central banks are also against bitcoin all in fear because they know it can surpass centralised systems one day.