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Author Topic: Why some little country don't accept bitcoin?  (Read 5014 times)
OneUserOne
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September 06, 2017, 11:03:10 AM
 #161

Mainly because there is no awareness about bitcoins and their potential,also they would think it's a scam or Ponzi scheme

I agree. Also, I would rather add that the national laws are not adjusted to any regulation of cryptocurrency like Bitcoin, or there is no such regulation at all.
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September 06, 2017, 11:12:52 AM
 #162

I think people in that country do not know how to use bitcoin and do not want to change the lives of people in that country. And I also think they do not want a simple way of living through digital. Im grateful that in our country it is accepted.
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September 06, 2017, 11:24:50 AM
 #163

just confusion why some little country reject bitcoin?


many country don't accept bitcoin today because of its decentralization. many transactions are not based on here while in cash it is centralized where all are centered to it, all the transactions including banking are done through the use of money because it is easier to manage and can be done offline. unlike that of bitcoin despite of its security needed the internet help to function.

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September 06, 2017, 11:33:38 AM
 #164

Im not really sure but probably because of the regulatory body of the government who thinks Bitcoin might be a bad investment.

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September 06, 2017, 11:44:04 AM
 #165

Because in the government it may not want to last longer in currencies other than bitcoin, in distant countries there are also many people who still do not know the information from the technology they have so do not know what bitcoin is. So they do not want to use anything else for other currencies as a payment method in currency. fear of fraud
bobri
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September 06, 2017, 11:45:18 AM
 #166

Developing countries are far away from learning fruits of crypto currencies including bitcoin. They are stuck with understand values bitcoin provides.

Countries political leaders and people will want. Nobody can actually understand how valuable bitcoin is.

These countries abort technology development of any type including crypto currencies.

These countries also have most cases around 40%.
Just hearing about bitcoin untraceable is bign no no to them.
Harutooo
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September 06, 2017, 11:45:54 AM
 #167

because it is out control of central bank
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September 06, 2017, 01:08:22 PM
 #168

Most probably those little country are not aware of bitcoins and other cryptocurrencies or they have little knowledge of it that their government or maybe their country have less development when it comes to technologies. There are still countries who lack on technologies and facilities used in technologies.

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September 06, 2017, 01:51:22 PM
 #169

just confusion why some little country reject bitcoin?

In my own opinion, some little countries do not accept bitcoin simply because they don't really know about everything about bitcoin, they also think bitcoin is a scam and some people use bitcoin in their illegal activities.  Some little countries really don't know about the benefits of using bitcoin that's why they reject bitcoin and it's a good thing in my country i be able to use bitcoin as a source of income.

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September 06, 2017, 02:00:26 PM
 #170

just confusion why some little country reject bitcoin?

Many countries doesn't like bitcoins because they say that it will have a bad effect to their economy. The reason why the bitcoin is not yet popular all over the world is because it is still illegal to use in many countries.

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September 06, 2017, 02:03:36 PM
 #171

Why would countries accept it if their citizens aren't adopting it? Once it gets good adoption amongst its citizens, though, accepting it should be on the table.

As for governments taking the initiative to introduce Bitcoins to its citizens, I believe that's a pipe dream because of how hard it will be for them to control and regulate. We all know governments like getting their hands in on everything.

Cindy1983
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September 06, 2017, 02:09:55 PM
 #172

I think the main reason for this case is government from these countries can't control bitcoin trasaction because bitcoin is totally secured that why it's really hard to find out whom had made any transaction or received it. Because of bitcoin secure some people have took advantages of it to do some bad things like money laundering
andaresta
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September 06, 2017, 02:12:36 PM
 #173

small countries do not know the bitcoin and the technology is still minimal so they are not aware of the existence of bitcoin until now ??

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September 09, 2017, 04:59:35 AM
 #174

I think people in that country do not know how to use bitcoin and do not want to change the lives of people in that country. And I also think they do not want a simple way of living through digital. Im grateful that in our country it is accepted.
Yes you are right the reason behind the refusing of the bitcoin is lake of the knowledge so if they are not aware of bitcoin and they are not ready to accept bitcoin then other countries should advertise bitcoin internationally so that every country will see the benefits of the bitcoin and then they will accept bitcoin and bitcoin will be common in that country in a very short time and they will accept bitcoin as we do.

jhonjhon
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September 09, 2017, 05:08:52 AM
 #175

small countries do not know the bitcoin and the technology is still minimal so they are not aware of the existence of bitcoin until now ??

Technologies may have a big factor why other countries never accept bitcoin in their place. Because bitcoin is a new technology that can only run by computers and internet. The problem with small countries have unstable internet connections that's why it could hard for them if they go through bitcoin in their life.

romeitaly
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September 09, 2017, 05:09:47 AM
 #176

They don't know about it and their minds are not open to have or acquire new knowledge. That's some of the possible reasons why, and if they are familiar with bitcoin, maybe they cannot see the potential to use bitcoin in their country. Maybe they're not yet ready for a change now but sooner or later they will realize that they might want to use bitcoin.

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September 09, 2017, 10:33:45 AM
 #177

Not only little countries but Big countries too are skeptical about bitcoin.Recently, China had announced the banning of ICO on their country. Simply, they don't have yet any regulations to manage it. In our country Philippines, bitcoin is still not yet well known, most merchants dont accept this currency. It is just a matter of uncertainty that the countries are being afraid of.
This topic has already been discussed, that why some countries do not accept bitcoin as their legal digital currency. May be they have fear that it would be dangerous for our country financially.

Because in case of bitcoin the people are free from the governments to buy anything outside the country without telling their respective departments. There will be no cash money in their banks and this is not acceptable to some governments.

Zabrielle
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September 09, 2017, 10:40:25 AM
 #178

I guess some small countries are not totally aware about bitcoin. In my side, i just found it this year when my sis introduced it to me. In fact i didn't know how bitcoin work not til i read and do a reserch about it. Neverthe less soon bitcoin will be viral specially if they found out they can earn from it.

Alice Nuttal
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October 05, 2017, 12:30:27 PM
 #179

It isn't about a little country or a big one. It mostly depends on those who rule it. Japan is much smaller than, for example, Russia. However, in Japan the cryptocurrency industry is one of the most advanced.
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October 05, 2017, 12:40:27 PM
 #180

The tax laws of small countries are not very strict, especially in some island countries. Bitcoin is valid in this small island country, but it has not become very common.



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