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Author Topic: Why some little country don't accept bitcoin?  (Read 5007 times)
GreenBits
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September 02, 2017, 12:15:20 AM
 #81

Don't know what you mean when you refer to a 'little country' or 'accept'. If accept means 'permitted in this country', then the reason they have restricted/outlawed bitcoin is because it would make it too easy for capital flight to occur. Imagine also if a lot of citizens purchased bitcoin in a peak, and the price retracted severely. The Fiat/value lost on those trading actions would essentially leave the borders given the global nature of bitcoin. For a small fry nation, this could be the kids of death.

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September 02, 2017, 12:19:09 AM
 #82

just confusion why some little country reject bitcoin?

Maybe because they don't have any idea about this digital currency, tendency, they refuse to use this because they think that it is a fake source of living. Maybe they also think that it's a new form of scam because it's hard to believe that you will earn money by just joining campaigns here.
I once refused to enter here because I'm not sure it this is fake or not, but when my friend explains me all about here, I realized that there's nothing wrong or bad with that and now I'm here Smiley

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September 02, 2017, 12:38:35 AM
 #83

The little countries doesn't accept bitcoin because it is not the right time for them, since they are just small country and have a small progress on their country then they will prioritize to solve the current issues that they are dealing with their country and i think they need more years before they accept bitcoin because they don't have enough knowledge and sources for fully supporting bitcoin.

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September 02, 2017, 01:08:29 AM
 #84

just confusion why some little country reject bitcoin?

Maybe because they don't have any idea about this digital currency, tendency, they refuse to use this because they think that it is a fake source of living. Maybe they also think that it's a new form of scam because it's hard to believe that you will earn money by just joining campaigns here.
I once refused to enter here because I'm not sure it this is fake or not, but when my friend explains me all about here, I realized that there's nothing wrong or bad with that and now I'm here Smiley
I think the government refused and forbade bitcoin for good reason, they just do not want crime and illegal activities like corruption, money laundering, etc to increase in their country. so they refuse to accept and legalize bitcoin, I think that's a logical reason






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September 02, 2017, 01:12:18 AM
 #85



just confusion why some little country reject bitcoin?

Rejection means banning of bitcoin in their country maybe because bitcoin is threatening in their local currency that makes it low value or in worst no value at all.

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.
Bank institutions and government are against and not believing in bitcoin simply because bitcoin can be replace in their fiat currency. Other says it will also replace the international currency which is dollar.

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.
Government wants the economy under his/her control.

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September 02, 2017, 01:25:10 AM
 #86

just confusion why some little country reject bitcoin?

Maybe because they don't have any idea about this digital currency, tendency, they refuse to use this because they think that it is a fake source of living. Maybe they also think that it's a new form of scam because it's hard to believe that you will earn money by just joining campaigns here.
I once refused to enter here because I'm not sure it this is fake or not, but when my friend explains me all about here, I realized that there's nothing wrong or bad with that and now I'm here Smiley
I think the government refused and forbade bitcoin for good reason, they just do not want crime and illegal activities like corruption, money laundering, etc to increase in their country. so they refuse to accept and legalize bitcoin, I think that's a logical reason
Maybe the one reason that the little country didn't want to participate in the progress of bitcoin just because of bitcoin can be used without tracking any transaction that the illegal activities can be happened in their country.

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September 02, 2017, 01:26:39 AM
 #87

just confusion why some little country reject bitcoin?


I think they prefer to see a thing that can quickly up them from poverty because as we all know bitcoin takes time and and months to earn a bitcoin and it can't  change someone quickly. Other than that they can't yet know the information behind bitcoin that's why they aren't yet oriented about bitcoin.

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September 02, 2017, 01:30:42 AM
 #88

I believe that the only reason to not accept Bitcoin is that they consider it as threat to the economy. Countries that have no natural ressources like petrol or gold or even water depend on services. They can't afford loosing employees. Many will invest in bitcoin or take it as a main job. That's the only reasonable cause i could think of.

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September 02, 2017, 01:33:09 AM
 #89

just confusion why some little country reject bitcoin?

because do not understand the importance of bitcoin to help in his country, need explained the importance of bitcoin to people or the power of bitcoin in decentralized cryptocurrency world, show them the proof how the bitcoin giving income to everyone and how to help for the country economy growth.

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September 02, 2017, 01:34:53 AM
 #90

just confusion why some little country reject bitcoin?


Do you know that Bitcoin in other country like Japan, China, Russia, India, Europe, Australia, Indonesia, Korea, Philippines and others has been spread out to this countries. And some of these they made it as legal currency as their alternative money. Now if there some country still rejecting bitcoin, I doubt it. For sure, they've been thinking about if they will legalize bitcoin to their nations it is maybe for now they've been doing feasibility about in bitcoin. But this things was my perception and opinion of mine. Good day to all Smiley

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September 02, 2017, 01:35:02 AM
 #91

Just because they doesn't have any knowledge about bitcoin and some of them even think bitcoin is a ponzi schemes   Lips sealed Lips sealed Lips sealed

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September 02, 2017, 04:08:33 AM
 #92

maybe the government is afraid with bitcoin that can interrupt their economic system but they don't make any statement if it is accepted or not so bitcoin in this situation is become neutral. people can still use bitcoin and government is not doing anything except they are only watching from the next door. but if the government is already finish learning bitcoin, maybe soon they will accepting bitcoin and finally bitcoin is approve in that country like japan, korea, russia, china, indonesia and else.

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September 02, 2017, 04:16:08 AM
 #93

just confusion why some little country reject bitcoin?


It is not whether the country rejecting or at least staying away from bitcoin for now is little or big, developed or underdeveloped, it is just a matter of laws, domestic laws that will spell greed or red for bitcoin and other cryptocurrencies. There are developed countries that accept bitcoin there are also those that do not. There are underdeveloped countries that are into bitcoin, and there are also those that are not.


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September 02, 2017, 06:11:12 AM
 #94

just confusion why some little country reject bitcoin?

Some countries consider that Bitcoin is a dangerous thing. Bitcoin is used for crimes such as trafficking in arms or drugs and drugs.
Not all countries apply the same policies. I feel it's natural and that policy can change at any time.
One time the Government will realize that Bitcoin is a safe and useful currency.

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September 02, 2017, 06:14:16 AM
 #95

Most likely because they worry about the features of bitcoins,they think that bitcoins may lead and spread more illegal works in their country,or simply they dont just tolerate cryptocurrencies like bitcoin

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September 02, 2017, 06:27:40 AM
 #96

just confusion why some little country reject bitcoin?


It's not only little/small country don't accept bitcoin, some medium/big country also don't accept bitcoin. Don't accept here means no one using bitcoin here. I think most of countries don't accept bitcoin because many people still don't know about bitcoin and how to use. Only few people know about bitcoin in some country.

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September 02, 2017, 07:21:44 AM
 #97

It is confusing if what you are pertaining to is acceptance in terms of using it for buying or paying. For that, bitcoin has more to have. It is to flexible to be used for everyday transactions and since its value has not been constant it is harder to use. On the other hand, if you are pertaining to is acceptance through out the entire country this is because some country sees cryptocurrency or digital currency as a threat to their economy and it can be abused and be used illegally.

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September 02, 2017, 07:41:51 AM
 #98

probably because bitcoin is not yet incorporated and many countries are afraid of disturbing the stability of the country's financial system and are used for money laundering
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September 02, 2017, 07:56:49 AM
 #99

just confusion why some little country reject bitcoin?

Really,thats an amazing fact to be noticed.We could see that economic giants like Japan have legalized bitcoin and india is soon going to legalize bitcoin.But totally contrast to this,bangladesh,equador have banned bitcoin.They see bitcoin as a big threat to their economy.They fear that bitcoin would be used for money laundering and illegal activities.They also feel that they lack efficient mechanism to trace bitcoin transactions.They also think that allowing bitcoin would totally ruin their smaller economy.But they actually don't understand that they would not be able to ban bitcoin completely.

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September 02, 2017, 08:30:22 AM
 #100

this is sad, if small countries doesn't accept bitcoin, it only means that their government might be corrupted by their banks or even by their politicians. countries who have accepted bitcoin knows what will happen in the future, because they are already technological giants, those small countries who doesn't accept bitcoin probably don't have the technology t do so, because some people are prohibiting the masses to obtain bitcoin, since they know it will give them a sense of freedom and ownership since the banks doesn't regulate bitcoin an they cannot control how many bitcoins will be in transaction.  hopefully this will change, and finally accept bitcoin, in order to help their country men, and also for them not to be behind the technological giants. i think we can all learn from singapore here, singapore is a small country, but it had proven itself to be a force not to be messed with.

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