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Author Topic: Why some little country don't accept bitcoin?  (Read 5012 times)
Matimtim
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October 24, 2017, 01:57:58 PM
 #281

Many people has no background on what is bitcoin and how to earn bitcoin, but is not a reason to say bitcoin is rejected in a particular country, maybe they don't have enough knowledge on what bitcoin is and what is the use of bitcoin. So, there are limited person  who use bitcoin that is why some people say that bitcoin is rejected by a one country but I think there is no country reject bitcoin.

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October 24, 2017, 02:09:03 PM
 #282

I think other country experiencing worry on something with uncertain outcome or They just don’t get it how it works.

The main reason is they area afraid of black money will grow up on their country's economy.We all knows that bitcoin is taxation free and fully anonymous,it leads to many disadvantages to country like decrease in tax,but some countries are trying to regulate the bitcoin and make use of it.
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October 24, 2017, 02:30:41 PM
 #283

I think other country experiencing worry on something with uncertain outcome or They just don’t get it how it works.
The main reason is they area afraid of black money will grow up on their country's economy.We all knows that bitcoin is taxation free and fully anonymous,it leads to many disadvantages to country like decrease in tax,but some countries are trying to regulate the bitcoin and make use of it.
Yes its true most of the government of those small countries sees bitcoin as a threat to their economy that is why they don't accept it. Bitcoin being decentralized means they cannot take control of it, which makes it more beneficial to the population of the country but not for the government so they chose not to support it.

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October 24, 2017, 02:32:17 PM
 #284

Dear Sir/Mdm ...

Maybe the rule of the country that may ban bitcoin in the country, or the number of transactions using bitcoin that do not benefit the country and the absence of a global regulation of bitcoin may be one factor. CMIIW

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tranquangvinh
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October 24, 2017, 02:59:47 PM
 #285

money laundering, gambling, arms sales that is reason why some little country don't accept bitcoin . normally , Country do not accept bitcoin that often occur that bad acitivity , so they worry this .

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October 24, 2017, 03:12:04 PM
 #286

just confusion why some little country reject bitcoin?


If you the word (little) you mean there is the third world countries, then the main reason why they don't accept bitcoin is mainly, they're just unaware about it, its taking them too long to believe that these kind of currencies do exist and are being used world wide. One more thing, the internet connection would be a major factor in the use of cryptocurrency, now most of the third world countries do not have a stable connection yet, and some of them do not even have internet yet.

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October 24, 2017, 03:53:17 PM
 #287

Cause they have not idea about bitcoin, They think its illegal and unknown, They can not take any risk. If they have any knowledge about bitcoin then they can not reject it.
Its my thought that's why They Don't want to accept it,

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MOTHIT
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October 24, 2017, 03:58:14 PM
 #288

My logical answer is most of the country economy depend upon the dollars only their currency is compared against dollars when they accept the new currency they afraid of their currency value might affect their economy and financial policy this is major reason why most of the country not accepting Bitcoin boldly. In near future this will change for sure.

rahul10948
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October 24, 2017, 04:12:58 PM
 #289

Its more depend on the country development...more developed country like Japan and south Korea...are much more advanced in technology...india is also going to give there view on bitcoin legalization in December 2017...let see what happen

manoj kumar k
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October 24, 2017, 04:39:53 PM
 #290

they thought they are unable to control the flow of fund and/or preventing the laundering money. AFAIK only North Korea is not even able to access bitcoin due to no internet access and its dictatorship. governments wanna gain tax from bitcoin too lol.
yes even i feel the same

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October 24, 2017, 04:41:06 PM
 #291

Those little countries may not have a good control over its economy( only few percent people from the elite class controlling the economy of the country ), they will certainly afraid of a decentralised currency aas that could destroy the total control over the country economically.

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October 24, 2017, 04:52:26 PM
 #292

Because they think Bitcoin it illegal. And yes, Bitcoin was used before in buying illegal things in the black market. That is why they classify Bitcoin as illegal. Trading your Bitcoin to buy alts is not illegal Actually it is like buying stocks in the stock market.

swordling143
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October 24, 2017, 04:56:41 PM
 #293

just confusion why some little country reject bitcoin?



Perhaps the reason to this is because small countries lack technological advancement amd the people in those countries will lack technological knowledge as well. We all know that bitcoin uses technology, right?

samuraijin
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October 24, 2017, 05:05:09 PM
 #294

just confusion why some little country reject bitcoin?

I think there is a possibility in their country that bitcoin is a fraud so they do not want to know about bitcoin if in their country know of any technology about bitcoin maybe government will support bitcoin will grow in their country so that people can use bitcoin as their livelihood as where in country others who have used bitcoin as a livelihood among people and can also help the growth of the global economy, and why in their country reject the existence of bitcoin the possibility of governments not receiving bitcoin as their currency system that will replace the currency in their country

blackr15
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October 24, 2017, 05:12:39 PM
 #295

Why some small countries do not accept bitcoin because not all of their government opinion is the same they may not believe bitcoin will be profitable for his country ...

therefore I love the suggestion, this is just gossip nonsense. so you're just excited again in doing bitcoin ...

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October 24, 2017, 05:16:25 PM
 #296

maybe because the country is enough to use cash, so the government of the country does not need crypto currency, it could be because the country is small so all transactions can be covered only by using cash, that's in my opinion

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October 24, 2017, 06:40:36 PM
 #297

My logical answer is most of the country economy depend upon the dollars only their currency is compared against dollars when they accept the new currency they afraid of their currency value might affect their economy and financial policy this is major reason why most of the country not accepting Bitcoin boldly. In near future this will change for sure.
But i think that the main reason be that most of the countries still do not have any knowledge about bitcoin. Bitcoin is in fact not yet too much popular in backward countries due to some factors, for example in most of the backward countries people do not have any the facilities of internet, therefore they do not have the opportunity to get benefit from bitcoin and that is the reason that their government are also do not giving good more preference to bitcoin.
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October 24, 2017, 09:07:22 PM
 #298

maybe because the country is enough to use cash, so the government of the country does not need crypto currency, it could be because the country is small so all transactions can be covered only by using cash, that's in my opinion
May in currently they are no feeling the need of online currency, but in future when all the developed courtiers will convert their currency into digital currency then the little countries will also feel the need for that. I think in some little and backward countries their people already have started using and investing money in bitcoin, so we can expect that even the small countries will also accept  bitcoin and will start using it.
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October 24, 2017, 09:11:28 PM
 #299

just confusion why some little country reject bitcoin?

As you say so, it is quite obvious that most of the small countries cannot cater or be capable of handling operational services that offer bitcoin usage. Maybe also they do not want to evenly try to be a part of the rising population because they have just enough resources to make their own money without the presence of virtual money or what do we call cryptocurrency.

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Why so serious?


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October 24, 2017, 09:28:00 PM
 #300

One of the reasons why bitcoin is not accepted is because it is a treat to their fiat currency and calls it ponzi scheme or a scam but when bitcoin is in a dip they're the ones to buy quick than the rest. And some of this countries are part of the third world and lacks that technology to adapt into digital currency and the population is suffering from starvation and poverty that's they think their fiat money is enough.






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