Why bitcoin is not supported in some countries?

[YoungMaster]

There are several reasons in every country why they are not supporting bitcoin. But the most likely reason they choose is bitcoin can't be fully controlled by the governments.

[saty ane nenu]

because of if they can support the bitcoin economy value fall down it means complily the country prestige will be changed then we dont need government supported for banking even more changes happens but my option is bitcoin why ? we need change 

[ArnoldChippy]

There are several reasons in every country why they are not supporting bitcoin. But the most likely reason they choose is bitcoin can't be fully controlled by the governments.

yes that is right a number of reasons are there which are causing that most of the countries are not accepting bitcoin, i think every country have their own rules and regulation, and still in most of the countries there is no tax on bitcoin therefore most of the countries are accepting bitcoin as legal currency in their countries.

[Shagufta yasmeen]

Some governments think that people would involve in money laundering, or people may lost their money cz its not 100% secure to have money in virtual form.

[maxman190]

Many countries are afraid that bitcoin supported will be dangerous, we all know that the bitcoin feature is anonymous so that everyone can store and transact safely without being identified their identity.

[Gondwanaland]

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 countries because of the laws that they have. In another way they did not support the bitcoin because they do not have enough trust to believe in bitcoin. Or they are not very knowledgeable what bitcoin really is. they did not know what are the benefits that they can get in using the bitcoin.

[ampsec_]

1. because they dont know much on bitcoin and how do they use it
2. because some countries dont what bitcoin because they cant control it
3. maybe they are planning all before they will use it

[ciarneil01]

I think bitcoin is not supported by other countries its because they can't control or its illegality, but the most reason i think other countries dont have enough knowledge and technology to know about bitcoin and afraid that they cant control it in the future.

[Koboysomplak]

Perhaps most countries fear that Bitcoin will affect the economy in a negative direction, making the local currency may be devalued and it will make it difficult to control the market. And there are also growing concerns of illegal use of bitcoin such as paying for drugs through money laundering, pornography, and all other devices that conflict with the laws of their respective countries.

[charlystriker]

Since bitcoin is not generally accepted  because some countries go against it.  Therefore it cannot strive in those countries.  Taxes is not generated  from it,  government not making money from it neither bank not making money from it

Many countries are not support bitcoin because it is too risky. Government have no control over bitcoin because it is decentralized  transaction and it is through  online. They afraid  that they  can't  protect their people if they have something wrong. Like scamming because they have many bad people have an interest of it. The government can't  get back their money if there are scamming. Also bitcoin don't have a tax government can't benefit with it.

[Sir Paijoe]

Because the government is afraid because the transaction with bitcoin is not through their bank, and they wont get any cut or taxes by it, and the another reason that the paper money wont get any value or just dropping from time to time, in my opinion.

The government's fear is certainly reasonable because the bitcoin feature is anonymous so that the corruptors will hide money in bitcoin, otherwise if bitcoin is used widely it will certainly cause big problems because bitcoin can not be controlled.

[tommisetiyawan]

Most countries do not support bitcoins because they do not recognize them as part of their acceptable money so anyone can use them freely. I think the world needs more time to understand this technology and it will take a decade from now to get bitcoin in every part of the world. Thus Bitcoin is not supported in some countries because not many people use bitcoin in these countries.

[Hitesh Ohri]

Nine years since the birth of Bitcoin, central banks around the world are increasingly recognizing the potential upsides and downsides of digital currencies.
what to do, if anything, about the growth of the private cryptocurrencies that are grabbing more and more attention for a host of reasons: security concerns after a $500 million exchange hack in Japan, volatile price moves and in the case of Bitcoin, at least  their introduction on regulated derivatives exchanges. The second question is whether to issue official versions.So these types of reasons some countries do not support Bitcoin.

[sam2014]

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 an open currency built on the law of free market,  it doesn't have restrictions to country,  region or location,  what am trying to say is that bitcoin cannot be restricted from being in a country despite the rules and regulations of the country it can't be fully kicked off,  we all know that China banned bitcoin for months back but bitcoin is still bought in large quantity by the Chinese on peer to peer exchange and also on telegram

[Stromspirit]

because some countries can not guarantee bitcoin to account for all activities dealing with cashflow activities, if the country wants to do bitcoin activities in its country bitcoin must have a foundation such as having assets or the center of the company to guarantee all the risks that will occur in the future.

[Marvelio]

because every country has policies and regulations in managing their finances, some countries that do not give permission in the country because there are many other financial problems the state does not want to risk the flow of money if bitcoin has no assets or something to hold as a guarantee it will make finance a country happens inflation and even the monetary crisis.
my advice on bitcoin has a foundation that keeps him strong in terms of security, real and legal corporate forms that can control all the bitcoin activity as a bitcoin guarantee keeps it safe.

[Zentor]

Because some countries are afraid of bitcoin, seeing in him competitor with national cryptocurrency and some are seeing problematic asset.

[MD Milon]

Some countries is not supported bitcoin because they are not control bitcoin.they are afraid of national currency about competition with bitcoin.also many countries not have regulatory board to monitor bitcoin.

[Morkhart]

For current bitcoins can not perceived by society and the State. It is indeed reasonable because bitcoins can not be controlled by the State, and State rules is still unclear, so the presence of bitcoins is still regarded as a threat than as a useful thing.

[stephanirain]

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

Hello there, yes, thats right many country did not support the implementation of having a bitcoin in there country but why?? they thinking that bitcoin is very risky and most of them saying that bitcoin is illegal. I heard some of them are declaring that if someone caught in using bitcoin, they will go to jail for 6-9 months. Actually, it is not fair for me because bitcoin is only giving us an opportunity to have some income and earn in by the use of bitcoin.