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Author Topic: Why some little country don't accept bitcoin?  (Read 5014 times)
Immakillya
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September 01, 2017, 12:39:48 PM
 #41

They can't regulate Bitcoin. So they are hesitant to allow this technology to adopt. It might be a threat to their banking systems since most people on small country are looking for profitable method. But some countries still on it's way to legalize the Bitcoin. Like Nigeria. Recently they prohibits the usage of bitcoin because they can't regulate it. But they are now looking to legalize it since huge countries are already adopt this kind of technology. Hope bitcoin usage there will allowed by ther government soon. So many people there will have the benefits of having bitcoin.



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September 01, 2017, 12:45:45 PM
 #42

Pretty simple. If that certain country is trying to save their currency which could also helps them to save their economy then a usage of bitcoin would be a treat for their currency. The other option is that they just dont have a proper knowledge  of what bitcoin really is


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September 01, 2017, 01:09:05 PM
 #43

just confusion why some little country reject bitcoin?

Only few selected countries ( Bangladesh, Bolivia, Ecuador & Kyrgyzstan)  have called out Bitcoin to be illegal. Mainly corrupt governments tends to put heavy regulation on bitcoin. And many government hates it because they cannot track and impose tax on them.  They fear that people might use it to their advantage to cause crime.


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September 01, 2017, 01:22:26 PM
 #44

That's what i'm curious too.
My country is a developing country, and still hasn't accepted bitcoin.
Even here, not many people know about bitcoin. The amount is very very little.
I never read about bitcoin or any cryptocurrency in the news, and the goverment doesn't seem to take interest in bitcoin, and care about this.
Maybe they're afraid because bitcoin is so promising, but they can't rule this? I don't know....

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September 01, 2017, 01:33:25 PM
 #45


because bitcoin can make the country's currency no longer sell or no value anymore if bitcoin is approved or approved, and the economy of that country will be highly dependent on the bitcoin price, if the country accept bitcoin  Grin

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September 01, 2017, 01:42:34 PM
 #46

just confusion why some little country reject bitcoin?

In my own personal opinion, people do not accept in their country the reason is some people use bitcoin for their criminal activities and some think bitcoin is a scam that's why we need to remove this people who makes bitcoin's image badly. But someday everybody will see the benefits of bitcoin and they will accept it as a legal currency.

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September 01, 2017, 01:44:59 PM
 #47

Same as other member says that, bitcoin isn't rejected, probably there just a few population have use it, So it's less of progress to develop. WHy? because they dont realize the profit opportunity in bitcoin. Some are asses it as a risky investment and any other. In my country, I can say a developing country, even there's some people who didn't know how to use AtM, . So i'm not surprise that bitcoin still a foreign technology for them. but still, it's not rejected, but just still rare people that use it.

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September 01, 2017, 01:51:01 PM
 #48

Some countries are completely idiot. It happened because Crypto currency is not well introduce and oriented to their country. They are so scared that Bitcoin might ruin their currency and market.

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September 01, 2017, 01:54:51 PM
 #49

just confusion why some little country reject bitcoin?

It is because the awareness of bitcoin itself is nonexistent and the fear that bitcoin will make the local currency weak / dissappear. And on top of that small country usually do not have the infrastructure to implement something like that.

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September 01, 2017, 02:06:52 PM
 #50

I imagine that nation don't think about Bitcoin and if in that nation influence Bitcoin as installment I to believe that nation don't have any HR that think about Bitcoin

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September 01, 2017, 02:35:28 PM
 #51

just confusion why some little country reject bitcoin?



There can really b a lot of issues involved here op, but the most obvious is the government working with the banks and lack of resources(or technological insufficiency). The banks that make the government happy doesn't want any more competitors. Bank vs banks are already enough for them. So they would do everything they can to control the government's decisions about crypto currencies which the government agrees to for some other reasons and for good control of the people. Now technological insufficiency, we all know that not all countries have high end technologies. Some countries even have very slow internet connections(turtle-net) and these technological issues can be a really big problem in using bitcoins as a currency in a place lacking good technology.

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September 01, 2017, 02:44:43 PM
 #52

just confusion why some little country reject bitcoin?

1. maybe they do not know the technology used bitcoin
2. because bitcoins can not be controlled by the state
3. anticipate the development of the black market. many rumors say that bitcoin is a tool used to transact on the black market.

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September 01, 2017, 03:16:13 PM
 #53

Because their country is not yet aware of bitcoin, people think that bitcoin is unprofitable and only business competition.
Maybe their country is afraid, their local money will be replaced with bitcoin, or they think that bitcoin can not be controlled by any party so that their country rethink the legalization process.
For me the presence of bitcoin in a small country, will make their country grow quickly.

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September 01, 2017, 03:22:29 PM
 #54

Because their country is not yet aware of bitcoin, people think that bitcoin is unprofitable and only business competition.
Maybe their country is afraid, their local money will be replaced with bitcoin, or they think that bitcoin can not be controlled by any party so that their country rethink the legalization process.
For me the presence of bitcoin in a small country, will make their country grow quickly.
I think bitcoin don't accept in their country because of not well known, not popular. They think bitcoin is scam and will harm people and will effect the economy. And, hard to accept by the government because bitcoin is anonymous, volatality of its price.

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September 01, 2017, 03:43:25 PM
 #55

just confusion why some little country reject bitcoin?

I think because of their slow economy, the expansion of the bitcoin market and management is difficult. Or are they worried about a distant future, they fear bitcoin will cause a risk.

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September 01, 2017, 03:47:11 PM
 #56

The state is obliged to minimize the risks. Who knows what will happen to bitcoin in a year, two, ten. The government cannot risk the lives of all residents and therefore never recognize bitcoin. They will only look for an opportunity to control the receipt of taxes from the use of bitcoin. more of them do not care.

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September 01, 2017, 03:49:13 PM
 #57

just confusion why some little country reject bitcoin?


I think because bitcoin is not popular to the people there.  I guess the word should not be rejected but it should be do not use or legalize bitcoin.  People there do not know what bitcoin can do to them.  They are simply afraid on scam and since there were many scam around, they are just veing careful with it.

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September 01, 2017, 05:03:43 PM
 #58




I do not know such a thing. maybe in a small country many people do not know what bitcoin is,
I do not know either.
One thing I know, every country has its own policies. has the authority to determine all things, including bitcoins therein. that's all I know.

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September 01, 2017, 05:24:23 PM
 #59

just confusion why some little country reject bitcoin?


I think because bitcoin is not popular to the people there.  I guess the word should not be rejected but it should be do not use or legalize bitcoin.  People there do not know what bitcoin can do to them.  They are simply afraid on scam and since there were many scam around, they are just veing careful with it.
Even if it is popular to their country but if there are no retailers or any kind of business that accepts Bitcoin then it would be all for nothing, A currency that needs to be converted in another kind of currency in order to be use in a country is an hassle thing to do for them, they be better of using what is available and most widely use in the first place. That is why many people think Bitcoin now as a kind of investment rather than a currency as many people put their capital to buy Bitcoin as a kind of investment.

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September 01, 2017, 05:28:23 PM
 #60

In fact, all countries reject bitcoin. The only difference is that in some countries it is done openly, and in other countries suggests that the mechanism of legalization of bitcoin, but in reality nothing is done.

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