Why bitcoin is not supported in some countries?

[Joshapat]

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. The whole thing is still pretty unclear to me

No one can't say an exact reason for it. But I think one of the main reason is....,
Banks are the pillars of the countries financial stability. They afraid bitcoin will affect the banking sector of their countries.Another one is high use of cryptos for criminal and illegal activities.

You are right about the government scare the growth of cryptocurrency can be affect the country's banking sector. However, for the government, cryptocurrency is also a great tool to corruption. No one knows the source income of them when they use cryptocurrency to corrupt.

This is what many countries feared so banned is a good option for the government, in addition feared for money laundering of course the country will lose tax because they can not track money from its citizens.

[Kisanaq]

Governments are usually not bitcoin friendly because they can not control it since bitcoin is untraceable. Also they fear that people will stop paying taxes

The main reason for bitcoin not supported in some countries besides being un-controlled is anonymous, with anonymous features of course to make everyone free to divert money to bitcoin that can be used by corruptors to save their money so that the country difficult to track down the corruptors.

[tprabash]

Because the legal situations and governments rules.

[arthur25]

Bitcoin doesn't like by other countries because it is so expensive. I think this is the main reason why especially to the poor country. They doesn't have an ability to buy bitcoin because it is expensive. The budget for the people, infrastructure, and more is not enough then buy bitcoin. Not practical way to support bitcoin.

[karman383]

Actually there are several reasons why some countries  don't support Bitcoin.  It is a high risk business. Besides that governments in those countries are afraid of being used by criminal.It can be used to buy drug, weapon, terrorist funding, money laundry even it can affect  stability of the local currency.Because Bitcoin operates on decentralized system, the governments can not controll fully. They only can monitor the negative impacts that may happen any time to protect people interest. Government only declares that any risk incurred in this bitcoin activity will be their responsibility.     

[Konthol Ngaceng]

I'm sure that the main reason for bitcoin is not supported in some countries is because bitcoins can not be controlled, if bitcoins can not be controlled it will be harmful to the state economy because everyone can make the country's economy chaotic.

[rlclub]

Given anti-money laundering (AML) and know your customer (KYC) concerns, some countries are taking steps that they believe will disrupt any potential illegal activities such as tax evasion, scams, money laundering, etc.  Will they succeed is still open for question.

On another note, check out the ICO for RLCoin, an enterprise solution for loyalty: www.rlcoin.io.  The product has traction with 250 clients and partners in Europe and Asia.

[abutingting]

Due to a high technique nowadays, some countries do not support bitcoin only because they think it is a BIG SCAM. Our generation today we have a knowledgeable people that could start or make their way into the so called BUSINESS but it is only a business reversible to the true meaning of business which only aim to gain profit and money at all cost without hesitation to the rules and laws of their countries as long as they are capable of hiding the reality of their intentions. 

[gathingbrus]

Its not an easy way to legalized and to give permission for bitcoin and cryptocurrency. Government sees that too risky to invest in cryptocurrency and if they make it legal in non educated society it will be a boomerang for government. When people start losing their money they will blame the government.

[Kadal Ijo]

I think this is a matter of time, if users continue to increase then there is no power for any country to banned bitcoin, sooner or later all countries will receive bitcoin, but the main problem at this time is the bitcoin price is still cheap and marketcap is still small.

[Cofee mix]

Perhaps one reason is because the state is banning bitcoin they are afraid bitcoin will be according to the state money,and maybe bitcoin will be detrimental to the bank.
Digital money is referred to as a derivative of the monetary system of fiat purely because based on the ledger of the financial system with the support of information technology (IT). Because of that, digital money is feared to bring the instability of the financial system is large and injustice.

[haster100]

Different countries have different rules and levels of openness to new stuff especially one that involves the monetary and banking systems. I think the primary reason why countries are hard on accepting bitcoin has something to do with its features such as decentralization and anonymity.

[elwiswoodie]

some countries have restrictions on BTC circulation because the government does not want to take risks
BTC holders are at risk of rapidly shrinking assets, which can lead to very rapid poverty if the person does not have a strong hand

[uchiikina14]

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 not supported in some country because they don't believe in btc they think that it's a waste of money and time that is why they don't support it and they think that it cannot be convertible to cash but all they think about btc is not true because for me btc is a good investment and you can earn big from it.

[Copulative]

For me I think since some area bolt of data about bitcoin. what's more, did not comprehend what sort of business is bitcoin. Furthermore, some of nation thinking bitcoin is a danger in there government.

[AntonDrobot]

In Israel, Bitcoin does not fall under the legal definition of currency, either as a financial security or as a taxable asset. Every time Bitcoin is sold, the seller must pay a capital gains tax.

[AntonDrobot]

The People's Bank of China considers Bitcoin to be a virtual commodity, not a currency, and its sale may be subject to VAT.
In Japan, Bitcoin is recognized as an asset-like values asset. Its sales are taxed by the Japanese analogue of VAT.

[Sir Paijoe]

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 not supported in some country because they don't believe in btc they think that it's a waste of money and time that is why they don't support it and they think that it cannot be convertible to cash but all they think about btc is not true because for me btc is a good investment and you can earn big from it.

The main factor of course because bitcoin is anonymous and decentralized so that it can not be controlled by anyone, the government is afraid that bitcoin use will disrupt the economy because many things that the country has given to its citizens especially subsidy.

[aoebtc01]

Due to a high technique nowadays, some countries do not support bitcoin only because they think it is a BIG SCAM. Our generation today we have a knowledgeable people that could start or make their way into the so called BUSINESS but it is only a business reversible to the true meaning of business which only aim to gain profit and money at all cost without hesitation to the rules and laws of their countries as long as they are capable of hiding the reality of their intentions. 

Bitcoin is also used for money laundering and tax evasion.. So goverment of some countries won't support Bitcoin as invest chanel.

[Gabteb]

its normal as BTC were made some years go so some gov. dont know what to do with it and how so ,they start to deny it or say not good about and etc. its normal with time all will understand we cant walk without technologies like that .