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Author Topic: Why some little country don't accept bitcoin?  (Read 5302 times)
ucingucingan
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November 18, 2017, 01:32:05 AM
 #361

Because they are worried that if they accept bitcoin then their country's currency exchange rate will weaken and the worst thing if it happens is the economic crisis will hit the country because the currency of their country has no value anymore.

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November 18, 2017, 01:58:28 AM
 #362

just confusion why some little country reject bitcoin?

may lack the education of cryptocurrency so that their governments consider bitcoin to have potential for crimes such as money laundering up to terrorism financing.

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November 18, 2017, 02:06:08 AM
 #363

Actually many of the country in the world even don't know what is bitcoin. Specially most of the developed country now are using and accept this digital currency.  Actually those countries you mention about poor don't know the advantages of bitcoin either they always think about the negative site of bitcoin. They even don't try to use it. I think its actually the major thing cause for it's occurred.

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November 18, 2017, 02:17:39 AM
 #364

just confusion why some little country reject bitcoin?


In what specific country you are talking about in which bitcoin is rejected? Because if i'm not mistaken there are only 10 countries that declared bitcoin is illegal, other countries did not declared bitcoin is legal but not ban then most of these countries who ban bitcoin is not a small countries but the most specific common reason why bitcoin was rejected because bitcoin is untraceable that it might use in illegal activities and that is why it needs to be regulate.

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November 18, 2017, 06:12:29 AM
 #365

just confusion why some little country reject bitcoin?


for me why some little country dont accept bitcoin it is because as many countries have not made an official decision for or against bitcoin. Some are banned by the country’s Central Banking system, some are banned by the nation’s government, and in many countries the Central Bank and national government act as one and the same.
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November 18, 2017, 06:43:53 AM
 #366

Due to the face that bitcoin is decentralized crypto currency that removes the role of bank and government peoples thinking that if everyone start using bitcoin then how they will collect their taxes.
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November 18, 2017, 07:15:14 AM
 #367

beside from what other said. it must have been with their technical difficulties from lacking of knowledge obout cryptocurrency and even maybe of poor internet access as well. or maybe thier country tried to conceal this wealth from their people! who knows what. but, thats what i think.

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November 18, 2017, 07:37:38 AM
 #368

I think the government is afraid of what bitcoin can do we all know that they can't control bitcoin for themselves because it is in the internet. They don't want to accept it because they are not ready for this kind of change in their country and not all people in their population knows about this technology it would be hard for everyone to adapt especially those who are not interested in IT.

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November 18, 2017, 09:24:25 AM
 #369

just confusion why some little country reject bitcoin?

Bitcoin is a new type of currency (a cryptocurrency to be exact) and can be used like the local money. This serves as a medium for making economic transactions like buying goods and paying services. On the other hand, local money is the official money of a country which is very essential for the economic growth.

Local money is like the blood of the human body. It needs to circulate around the market within and outside the country to strenghten the economic status of a country. In the case of small countries, it is ideal for their government to reject or ban bitcoin in their country to prioritize the circulation of their local money. In that way, their local money will be able to circulate, and it will be able to establish high value in the global market.


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November 18, 2017, 09:29:30 AM
 #370

Its simple maybe because those countries dont have much knowledge on Bitcoins and no awareness and they do not know how bitcoin can affect their economy or some business or industries in their countries. And maybe they do not believe on the Potential that Bitcoins have. But in the end some people of that little countries are seeking for the true answer and trying to get involved in Bitcoins. Maybe those little countries can block or ban bitcoins but they cant stop the people who used to be it and want it.

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November 18, 2017, 09:33:50 AM
 #371

Probably because of their high little of corruption or anaware of usefulness of bitcoin
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November 19, 2017, 06:08:53 PM
 #372

Probably because of their high little of corruption or anaware of usefulness of bitcoin
For the most part the nations relies on the charges and runs the administration of the nation by the expenses and the little nations for the most part relies on the assessments however Bitcoin has no duties so if Bitcoin enters the little nations then the legislature will have incredible misfortune in the legislature of the nation with the goal that's the reason that little nations don't acknowledge Bitcoin.


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December 18, 2017, 02:37:06 PM
 #373

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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December 18, 2017, 03:36:04 PM
 #374

I would like to hear the name of the country. I think the banking lobby will put pressure on politicians that would forbid bitcoin.
In a small country this is easy to do, and great it is possible!
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February 16, 2018, 02:27:11 PM
 #375

I think most of the little countries are afraid bitcoin will take over because  the  gold is very  important for governments.
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February 16, 2018, 02:32:16 PM
 #376

just confusion why some little country reject bitcoin?

These small countries think bitcoin is a scam, and their ideas are very backward. The economies of these countries are not very good, and if they recognize that bitcoin is legal in these countries, when bitcoin crashes, it will seriously affect the local economy.

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February 16, 2018, 02:32:56 PM
 #377

In my opinion, little countries do not accept bitcoin because the country is not ready for transactions using bitcoin, they just do not want crime and illegal activities like corruption, money laundering, etc to increase in their country. so they refuse to accept bitcoin transaction.

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February 16, 2018, 02:36:37 PM
 #378

Mainly because there is no awareness about bitcoins and their potential,also they would think it's a scam or Ponzi scheme
Yes you are right, people on little country does not know or maybe a few heard about bitcoin. People of those country would still prefer the traditional gold over bitcoin cause either they are afraid to try new things or they are contented with gold. Little did they know bitcoin has more potential than gold right now.

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February 16, 2018, 02:41:39 PM
 #379

just confusion why some little country reject bitcoin?


Governments in the first instance tend to reject the unknown and treat it as a threat, but once they understand the importance and what the use of cryptocurrencies represents, that situation may change and they begin to regulate their use, because it helps at least transparency in transactions.
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February 16, 2018, 02:53:20 PM
 #380

The fear of Bitcoin being a Ponzi scheme is old factor, some dubious activities which Cryptcurrecnies have been used for over the years is another concerning factor, the anonymity of Bitcoin holders/users is the most scary factor for countries.

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