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Author Topic: Why some little country don't accept bitcoin?  (Read 5001 times)
noormcs5
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October 26, 2017, 11:03:30 AM
 #321

just confusion why some little country reject bitcoin?


Who rejected the bitcoin, Which country rejected it?
Actually, in most of the countries bitcoin is not accept in government lever, but it doesn't mean that any country reject it. Rejected mean "anyone offer you and you reject it".
But with bitcoin it is not happened, no one offer it to any country. But if any country accept bitcoin in government lever then it is good for their people. Mostly Asian countries people don't have awareness about bitcoin or other crypto currencies. But now i feel the change and people start to get the knowledge about bitcoin.

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October 26, 2017, 11:11:13 AM
 #322

Maybe the government in the country you are reffering to is not yet prepared for digital currency like bitcoin. They are still unaware of the potential that bitcoin can offer to their countrymen. They would think it is a scam or another some underground activity.

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October 26, 2017, 11:18:07 AM
 #323

just confusion why some little country reject bitcoin?


Some countries think bitcoins are just a scam and third world countries are suckers for any money making scheme. That's why they think bitcoins are too good to be true. Of course, as 3rd world countries, they want to play it safe and not to risk more of the country's money on bitcoins.
i think at this time the government will no longer see bitcoin as a scam currency? look at bitcoin growing that have tens of millions of users and will continue to grow, even the IMF is also starting to take into account bitcoin, i think the government's vigilance should be improved because i think bitcoin will be more famous and probably will replace many local currency in many countries because many people are beginning to like using bitcoin,, #imo



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October 26, 2017, 11:27:12 AM
 #324

just confusion why some little country reject bitcoin?


Little countries or some other cou tires whether big or small might be hesitant to accept bitcoin into their fold as bitcoin is still an unknown to them. If the other developed cou tried dontembrace bitcoin they would also play safe when it comes to cryptocurrency.



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October 26, 2017, 11:33:10 AM
 #325

maybe they just don't know about crypto currency and also bitcoin is not yet that implemented in many companies that's why they're not accepting bitcoin. That's why even I'm in a thirdworld country I'm accepting bitcoin as a payment on my coffee shop with a little slogan " Accepting Bitcoin Here as a Payment".

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October 26, 2017, 12:44:19 PM
 #326

maybe they just don't know about crypto currency and also bitcoin is not yet that implemented in many companies that's why they're not accepting bitcoin. That's why even I'm in a thirdworld country I'm accepting bitcoin as a payment on my coffee shop with a little slogan " Accepting Bitcoin Here as a Payment".

Or they're more on the studying part for now. Of course leaders won't just approve anything without making sure that it's fully studied first and bitcoin, being a budding industry would fall under that. Perhaps in the future it will beore accepted by more countries

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October 26, 2017, 12:46:32 PM
 #327

In my country, except few metro cities, many people are still afraid to use even a debit card on internet banking. Bitcoin is far more advanced for them. That too, a currency not in a physical form will definitely scare them. Cheesy

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October 26, 2017, 12:52:50 PM
 #328

I think they are not aware of bitcoin that can be use for purchase. Just like here in my country i haven't heard they use bitcoin to purchase or buy someting. Not even can be use like a credit card. But im totally looking forward for bitcoin to becuse here.  But for sure bitcoin is not banned in my country so i guess sooner o later we can use bitcoin in purchasing things.

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October 26, 2017, 01:47:07 PM
 #329

I think they are not aware of bitcoin that can be use for purchase. Just like here in my country i haven't heard they use bitcoin to purchase or buy someting. Not even can be use like a credit card. But im totally looking forward for bitcoin to becuse here.  But for sure bitcoin is not banned in my country so i guess sooner o later we can use bitcoin in purchasing things.
yes i think so that is the point , some countries are not aware from this forum but i think the bitcoin price will be work to spread the bitcoin among in many country and that is the the only way to accept the bitcoin in those country who never knows about it.

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October 26, 2017, 02:18:55 PM
 #330

they will start following footsteps of strong economic countries like Japan soon and legalize bitcoin and other cryptos.
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October 26, 2017, 02:21:21 PM
 #331

it is simple. Little countries do not have enough knowledge or money to use advanced technology and understand what bitcoin is. therefore, they choose to ban bitcoin so that they can fully control the people without any problem. they can collect tax, too



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October 26, 2017, 07:54:46 PM
 #332

I think not only little countries dont accept some big countries also dont accept it. The reason is not size, reason - goverment vision.

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October 26, 2017, 10:32:41 PM
 #333

I think not only little countries dont accept some big countries also dont accept it. The reason is not size, reason - government vision.

What you said is the correct reason, as i have also seen that it is upto the government decision to accept bitcoin or not. because if government declares bitcoins as illegal then no one can do anything














 

 

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October 26, 2017, 10:38:05 PM
 #334

just confusion why some little country reject bitcoin?

Some little country reject rather dont accept bitcoin because their economy is still innovating so that their has no capability for this thing but if the time goes by they will have an ability to accept bitcoin and use a money for all transactions.

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October 26, 2017, 10:41:05 PM
 #335

if you believe me, the market capitalization of bitcoin right now surpasses many of little country's market capialization. If they accept bitcoin legally, it'll disrupting their economy.
the only way, to keep their economy stable is to keep only 1 currency as legal tender, and it's theirs.
However, accepting bitcoin is not an obligation nor such a must in a country, they don't want to add unnecessary problem furthermore.

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October 26, 2017, 10:43:43 PM
 #336

Perhaps they lack awareness or shall we say they are not well-informed about bitcoin and other cryptocurrencies. They might have but just little idea about it. Some may have researched about bitcoin but refused to accept because of its volatility in prices and the higher risks involved. They're just focusing on one side of it without knowing the greater idea why bitcoin is of big help and the wellness it can bring in the community especially now that we live in an era of advanced technology.

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October 26, 2017, 10:46:51 PM
 #337

just confusion why some little country reject bitcoin?


I will say that the little countries that did reject bitcoin is because of their level of technology, information and advancement. We are apparently in the jet age and a country still crawling in areas of technology will definitely find it difficult to accept something like bitcoin that is way beyond their comprehension. I won't judge the citizens by this because there will definitely be some sets of individuals who are already adapting to the use of Bitcoin with ease. So, by the time the country starts familiarising with it, they have gone way further.

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October 26, 2017, 10:51:51 PM
 #338

just confusion why some little country reject bitcoin?

First little country doesn't accept bitcoin its just because they afraid that their people got scammed of this coin the main reason why is bitcoin is not yet familiar to them it is like its a knew currency that needs to study more about what is it. And still in a higher value which among them can't afford yet to risk even their government.

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Harley29
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October 28, 2017, 06:19:13 PM
 #339

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.
Well I’m not agree with this statement they are going to accept bitcoin when develop countries are going to accept bitcoin so obviously bitcoin will be accepted by other countries as well because bitcoin is playing a good role in economy of any country and I’m sure world like and support bitcoin that’s why bitcoin is going more powerful in world.

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TonyFat
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October 29, 2017, 01:50:49 PM
 #340

1) fear that this is a bubble
2) is unprofitable

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