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Author Topic: Why some little country don't accept bitcoin?  (Read 5014 times)
fanbeila
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October 09, 2017, 07:44:10 AM
 #201

Small countries may fear that they don't have enough infra structure to control or regulate bitcoin and trace bitcoin transactions.That's why,bangladesh has announced bitcoin as illegal and even six years of imprisonment is given if found using bitcoins.Similar conditions may be found in equador,bolivia also.

Totally opposite to it,economic giant like japan has legalized bitcoin and many developing countries have decided to take same stand as japan.

But whatever,the situations may be now,in fute,no country would be able to avoid bitcoin totally.

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October 09, 2017, 07:49:58 AM
 #202

In my opinion, they do not really know about bitcoin so they think its seems like scam.
If they open their eyes to understand and more learning about bitcoin,  i think they will start love and using bitcoin.

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October 09, 2017, 07:52:23 AM
 #203

just confusion why some little country reject bitcoin?

I think their economy is not sufficiently developed, not big enough to accept and control Bitcoin. Besides, Bitcoin is not that popular yet and it's in development so it's normal for small states not to accept it. Although small states do not accept it, there are still a lot of citizens there who use and participate in Bitcoin. Because all information is hidden, this can happen without violating the law

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rcoins0720
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October 09, 2017, 07:53:18 AM
 #204

because bitcoin is unstable and the technology behind it is basically more of advance
the price is fluctuating every time and the mindset that the bitcoin is scam or some type of shit and like use in illegal ways
that is main reason why some and more of country rejects it thats why

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October 09, 2017, 08:44:19 AM
 #205

Of course accepting bitcoin needs quite developed economy and I think many small countries are concerned about supporting the stability of their financial systems. And bitcoin doesn't fit in this plans, not today anyway.
There is also a a lack of information about crypto currency so many governments are observing the situation with bitcoins at the moment.
So I think maybe in a few years time we'll see remarkable changes there.
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October 09, 2017, 09:28:01 AM
 #206

its just because of they have lack of awareness about digital or crypto currency . they need time to accept that digital figure also work 

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October 09, 2017, 11:30:29 AM
 #207

Every state wants to control the turnover of money in their country (there from came the interdiction of using currency of the other states). Every state wants to resist to economic and other criminality also and that is comfortable to do through the control under big money transactions.
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October 09, 2017, 12:05:06 PM
 #208

The majority of countries do not accept bitcoins because they are not ready yet, we all know that bitcoin systems are so sophisticated that many countries are not ready to accept bitcoin.

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October 09, 2017, 12:11:49 PM
 #209

just confusion why some little country reject bitcoin?

1. they still don't know what is bitcoin and how preciuse that. they maybe not believe with this bitcoin system and affraid to use it.

2. little country need to grow and if they use bitcoin that not many country use it and accept it they maybe affraid can't build foreign cooperation




Maybe they're already a victim of a scam so they will not trust about bitcoin anymore. Or they're just unaware about bitcoin that is legit and very helpful to give them extra income or maybe bigger than their usual salary in the corporate company they are working. They only need proof so their ideas about bitcoin will be changed. Just like me, I was so negative about bitcoin before because I thought this was another so-called scam.

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October 09, 2017, 12:44:21 PM
 #210

Every country has some specific rules and regulation to protect their economy. so that they have to maintain a strong chain up to the bottom. government always offer and suggest to invest in the safest way what they have in the territory. since Bitcoin is not as trusted for them so they don't prefer any involvement with this system.

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October 09, 2017, 01:23:06 PM
 #211

Every country has some specific rules and regulation to protect their economy. so that they have to maintain a strong chain up to the bottom. government always offer and suggest to invest in the safest way what they have in the territory. since Bitcoin is not as trusted for them so they don't prefer any involvement with this system.
Because BTC is anonymous its difficult to the government to control and implement law BTC transaction. that maybe the reason why government is banning BTC in their country but for sure if there are lot of BTC coming in I think the government will be benefited because the business will proliferate and if the people has plenty of asset people will buy and business will boom and the government earn taxes. 

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October 11, 2017, 03:08:51 AM
 #212

Some countries may not accept bitcoins –
1- They may be unaware of such crypto currencie ever existed. 
2- They may consider this as a fraud or business scam.
3- Their reserve bank or government itself doesn’t want to  get bitcoin introduced, as they have fear of losing monopoly control over their economy.
4 – Bitcoin need continuous and secured internet connection why may be absent in these countries or its not possible for them to build the same due to financial or geographical reasons. 
5-  Small countries may not accept bitcoin as they are happy in working with their traditional currencies.

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October 11, 2017, 03:10:47 AM
 #213

because their government is not capable of managing cryptocurrency  Smiley
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October 11, 2017, 03:34:02 AM
 #214

because their government is not capable of managing cryptocurrency  Smiley
Small answer but you have a good point so that's why agree with you becuase tje goverment capable to manage this bitcoin but i think the reason is many country said that the bitcoin is scam or called fraud system so that's why many country hates bitcoin.

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October 11, 2017, 03:40:20 AM
 #215

maybe in the country they still do not have or do not know what bitcoin it is,
they are still confused what is bitcoin,their simplicity that might make them not believe in bitcoin.

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October 11, 2017, 03:41:41 AM
 #216

The reason for this is the lack of knowledge of people in a country. So they think bitcoins are worthless and should not be used. We do not blame them because they are always foolishly used in bitcoins. Just like investment hyip and so on. That really breaks the name of bitcoins, the fact is that when you search Google and you write "bitcoins" is a purely investment site that has come out and articles of bad effect of using bitcoins. That is why they will not be allowed to be legally used because they know that it can damage the lives of their citizens

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October 11, 2017, 03:44:02 AM
 #217

Probably because before they did not know what bitcoin was, and maybe after knowing what bitcoin they do not need it. Original money is still very useful and much needed, still a valid payment instrument, so what is the bitcoin for? maybe that's what they think. I do not know for any other reason, that's all I can think of.

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October 13, 2017, 04:12:41 AM
 #218

because they do not know about bitcoin yet, and have little knowledge of the internet network. they are not not accepting, it's just that they choose other types of payment because that's what's widely used in their country.

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October 13, 2017, 04:21:33 AM
 #219

just confusion why some little country reject bitcoin?


I think that small countries are not aware or they are not exposed in the existence of the crypto currency thats why they do not accept bitcoin. Maybe if the country would progress and develop enhancement in their technology they can embrace the crypto currency and i think it would happen in the coming years.

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October 13, 2017, 06:47:50 AM
 #220

It don't need to be a small country to reject the bitcoin, there are world powers that still do not accept the circulation of BTC lawfully within the country. Due to the simple fact of not benefiting from it, they implement restrictions against it or vice versa. Also, there are "little countries" that are seeing in bitcoin the possibility of boosting its economy.

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