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Author Topic: Why some little country don't accept bitcoin?  (Read 5000 times)
SMSabuj
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September 01, 2017, 05:33:38 PM
 #61

just confusion why some little country reject bitcoin?


Because that country is scared Bitcoin. They think Bitcoin will take the position of their local currency. And Bitcoin can be more popular than their local currency. They also think that bad people will use Bitcoin for terrorist activities. That's why they don't accept Bitcoin. But I hope some day they will accept Bitcoin.

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September 01, 2017, 05:53:31 PM
 #62

just confusion why some little country reject bitcoin?

many countries are still not receiving bitcoin including my country, maybe because bitcoin is difficult to control circulation, it could also be because money is the identity of a country. and bitcoin also susuah in track because bitcoin does not have serial no like money. it's in my opinion

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September 01, 2017, 06:03:43 PM
 #63

just confusion why some little country reject bitcoin?


It depends on a country. For example Estonia is getting involved in cryptocurrency world with its e-Residency system.
I think it is just a matter of time.

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September 01, 2017, 06:10:34 PM
 #64

just confusion why some little country reject bitcoin?


Bitcoin being a virtual currency makes it very difficult to be traced and regulated by the government. Due to the dark web consisting of illegal things, bitcoin serves as the perfect payment for illegal transactions including drugs, child porn, etc. under the dark web. Also, the difficulty of regulation of bitcoins to the government poses a potential risk for their economy and may be subject to abuse. Lastly, I think that bitcoin investments are far superior than bank investments (due to yielding income faster for its volatility in its price) and government sees this as a loss on their part.

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September 01, 2017, 06:14:52 PM
 #65

just confusion why some little country reject bitcoin?


Bitcoin being a virtual currency makes it very difficult to be traced and regulated by the government. Due to the dark web consisting of illegal things, bitcoin serves as the perfect payment for illegal transactions including drugs, child porn, etc. under the dark web. Also, the difficulty of regulation of bitcoins to the government poses a potential risk for their economy and may be subject to abuse. Lastly, I think that bitcoin investments are far superior than bank investments (due to yielding income faster for its volatility in its price) and government sees this as a loss on their part.

Yes that's the point. Governments never want uncontrolled free economy. They never want people to have decentralized systems. They always aim for the best tax and charge. With crypto, they will have tax problem which will end their kindgom. That's the main reason.

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September 01, 2017, 07:15:01 PM
 #66

Some little country reject bitcoin because they do not know what is bitcoin and what is used for. They are cheap mind. So they dont know how to use bitcoin and how to earn it. Thats why some little country reject bitcoin.
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September 01, 2017, 08:01:04 PM
 #67

Some little country reject bitcoin because they do not know what is bitcoin and what is used for. They are cheap mind. So they dont know how to use bitcoin and how to earn it. Thats why some little country reject bitcoin.


So many reasons and other countries thinking about bitcoin so that's their choice we can not argue for it hope they understand Wink

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September 01, 2017, 08:24:22 PM
 #68

just confusion why some little country reject bitcoin?


     I think because bitcoin is not popular there, and probably that country is did not know the used of bitcoin to there economy. Well, rejecting bitcoin is the decision of there government we need is to respect it. Although we are not citizen from there.

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September 01, 2017, 08:36:12 PM
 #69

just confusion why some little country reject bitcoin?


It is maybe because they are afraid of Bitcoin. They might think that Bitcoin can do harm to their economy especially when they completely accepts Bitcoin as mode of payment just like what Japan did. They might also think that Bitcoin might be used in their country in illegal way of some sort. There could be many reasons why but the major reason would be about the economic aspect.

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September 01, 2017, 08:59:10 PM
 #70

It can kill some systems of countries. Bank sistem can make a lot of problems to different groups of people...

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September 01, 2017, 09:13:53 PM
 #71

just confusion why some little country reject bitcoin?


     I think because bitcoin is not popular there, and probably that country is did not know the used of bitcoin to there economy. Well, rejecting bitcoin is the decision of there government we need is to respect it. Although we are not citizen from there.

It will be the other way round. Countries might decide to ban Bitcoin, because it is getting very popular among its citizens. If it is not popular, most governments will just decide to ignore it.

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September 01, 2017, 09:38:02 PM
 #72

the government certainly has a fundamental reason for its rejection of bitcoin, and I think they are still studying the system contained in bitcoin and the effect it has on the bitcoin legality of whether it is capable of bringing positive change or vice versa.

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September 01, 2017, 10:05:10 PM
 #73

It's difficult to answer your question why some small country doesn't accept bitcoin at the same time there can be lots of various reasons for it to do so. Although some of the members don't agree that it might be due to ignorance or lack of knowledge but in my opinion that might also be one of the reasons and even if that's not exactly the reason it's for sure that the government of such country is ill informed or has some misconceptions about bitcoin otherwise there shouldn't be any reason for them to reject it instead of regulating it and allowing it to be used by their public as long as all the rules and regulations made by the government are followed.
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September 01, 2017, 10:55:20 PM
 #74

just confusion why some little country reject bitcoin?


Many reasons why a small country does not accept bitcoin. because bitcoin is a digital currency then it needs internet connection to be able to do transaction using it, maybe it cause small country can not accept bitcoin, but I think all countries have internet connection. The second reason for the delay in information, perhaps they do not know about bitcoin and not knowing bitcoin is a promising investment in the future. third reason because they don't want to know and don't want to receive bitcoin (crypto currency) for some reason.
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September 01, 2017, 11:03:09 PM
 #75

just confusion why some little country reject bitcoin?


These little countries or we may say third world countries and above may considered average poor of govertment that they will not accept bitcoin because they are a bit late of knowledge in advance technology specially digital. Most of these people are poor and mostly dont know how to use computers because of poor educational attainment. Bitcoin cannot be circulate in their govertment & establishment so it will become useless.
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September 01, 2017, 11:25:56 PM
 #76

In my opinion, little countries do not accept bitcoin because the country is not ready for transactions using bitcoin, not ready for adequate facilities for bitcoin transactions. It could be that the country is less fond of bitcoin functions.

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September 01, 2017, 11:30:07 PM
 #77

They probably dont trust it yet
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September 01, 2017, 11:51:58 PM
 #78

IMHO, they either don't know what Bitcoin is or how it really works, or know it and don't ever like to use it and might also not need it, every country has its own conservative systems in place.
The biggest possibility is they might don't even know about BTCs or a very few may have heard the word "Bitcoins".
By the way dude, don't you think so OP should have used some other and more descent word than "little". I mean, Japan is a little country when it comes to area but is among the top 5 countries that are using Bitcoins.



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September 02, 2017, 12:00:26 AM
 #79

just confusion why some little country reject bitcoin?

Because some smaller countries don't have the technology or the resources to be able to accept bitcoin in everyday purchases. They might not even understand Bitcoin and the people of the country might not either understand bitcoin, or just dislike the properties of bitcoin and therefore not want to use it at all.

The smaller countries will probably not trust Bitcoin anyways, so that might be why they dont use it.


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September 02, 2017, 12:00:46 AM
 #80

I guess why some small countries do not accept bitcoin because those countries make and have cheaper bitcoin transactions so as to make the miners didn't allow it. then it's in the bitcoin still has some limitations on technological advancements in it. so it's not accept bitcoin

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