Why bitcoin is not supported in some countries?

[Marry Finch]

Financial regulators of countries can not work out a common opinion on how to classify Crypto-currency in general and Bitcoin in particular. The main problem for this is the different approach of states.
There is no consolidation in the world about regulation of transactions with the help of Bitcoin, as well as the classification of electronic currency.
In different countries Bitcoin is classified in different ways - as virtual currency, money surrogate, intangible value, virtual goods and the like. Because of this, regulators do not officially support any of the above definitions.

[Shafiqul Islam]

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

Many countries accept bitcoin because government should control centralised currency and their bank system will transaction with centralised money.bitcoin is decentralized money so they denied bitcoin.

[AMHURSICKUS]

Maybe because they afraid that bitcoin may use as a transaction by all the illegal activities.
Or maybe they afraid of its volatility, because any time bitcoin can loose its value.
And maybe they afraid that their economy affect lot because of it. Anything can happen, if we want to know if the result is good or bad all we need to do is to take the risk.

[sk700]

each country has rules and laws, respectively. 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.

the reasons....
- they don't realise the value of bitcoin
- government can't handle it
- bank systems can not control bitcoin over fiat money

[fernandoaleixo]

Because of obvious reasons, corrupted governments, instability, or purely market strategy, some governments might get wrong about the real nature of bitcoin, there are several reasons.

[SergeYak]

Government of those countries just don't know how to handle with bitcoin and baning it. It is the easiest way of control bitcoin - ban. Anyway they will change their opinion soon.

[Strannik-74]

Maybe the reason why some countries doesn't support bitcoin is because they think for the possible negative results may happen in using bitcoin.
Maybe they also think for the sake of people who may be suffer in to losses if they don't how to play wise on it.

[Asgar 9]

I think that with time Bitcoin will start to be taken absolutely everywhere. Over time, Bitcoin will become a universal global cryptocurrency. Everything is moving in this direction.

[Best Dreams]

As theres a lot of advantages we can gain from using bitcoin for our daily lives,
some people do it in a wrong way. Some people uses bitcoin to do criminal activities which is against the law.
Also the government wants to get something from it but as it is stands, government cant collect tax from it.
Also if bitcoin is the replacement for flat currency, then the country cant produced money because it is not needed.

Yes for sure they are not aware of the bitcoin advantages and the benefits, it is not there mistake I think they are in need of guideline so that they will love bitcoin and they will start liking bitcoin for their country, today bitcoin is improving the economy of the country and it provides job to the jobless people, so our young generations will not suffer unemployment any more so I prefer they should use bitcoin, bitcoin is full of profit try to use it properly.

[saedasda]

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

Some countries doesn't support bitcoin like China. Some miners from China is go to other place to miner their because China is strict in terms of paying tax.

[Roksodhon]

I know that many countries not supported the bitcoin. Some countries are afraid of bitcoin  because it will cause some illegal actions such as laundering black money. Maybe that's the main reason many countries in the world not supported bitcoin

[kakehgilleh]

first because bitcoin is not taxed. that's the reason why bitcoin is not supported by some countries. and the two bitcoins do not include foreign exchange. essentially because the state does not profit from bitcoin materially.

[Arisgado]

Governments of some countries are not supporting bitcoin because of their policy which is meant purposely to to check bitcoin investor or maybe they fear of losing their revenues which they get from taxes. I'm sure the public education about bitcoin will have a positive impact on the economy of a country.

[puguh212]

because bitcoin also affects how the circulation of money in a country. In the case of Indonesia, bitcoin is not prohibited for mining and trading. but it is prohibited to serve as a buying and selling tool. such as purchases of goods. besides, handling income tax will also be difficult if everyone has bitcoin. because not everyone will report their assets.

[wilsonwilly1]

but i think the main reason can be that bitcoin is yet not so much introduce in some countries and that is why people there do not accept bitcoin. i think if they are properly introduce then they will certainly accept bitcoin and will also use bitcoin for trading and investment.

[nicster551]

Because there is what we called, blood life of the Goverment, which is called, tax. This tax is being attached for every commodity being used in a country. Which means, when you buy something, when you earned something, you must be taxed. so in the perspective of bitcoin and cryptocurrency, we earned a lot entailing, we are not subject to tax. Government itself cannot benefit from us. So instead some government, bans cryptocurrrency or even do not support it.

[gtx1060aa]

Bitcoin is not using some countries  because,it is used to send and receive the money without any bank,in this case there is some mistakes done with bad people.so bitcoin price also not constant this will increase and decrease.

[Evangeline2]

In these countries, government departments are afraid of the loss of citizens' investment in encryption, so they define it as a scam.

[shelimy]

actually the users of bitcoin are not so much in these countries, actually bitcoin is still not so much introduce in these areas, i think they still need a good introduction of bitcoin so that people may start using it.

[naldal kaka25]

I think countries see some danger in bitcoin cause of it is controlles currency and there priests or some other dark activity can use bitcoin for their stuff.