Bitcoin is difficult to accept in countries

[crossabdd]

Of course, Bitcoin is difficult for most countries to accept. The reasons are many. This is the conservative policy of the States, the unwillingness to introduce new technologies, so as not to expose the existing economic interactions within the country and abroad to risks. We also know that almost all countries of the world have their own national currencies. And if Bitcoin suddenly becomes able to influence economic processes, it can affect the exchange rates of national currencies and as a result the economies of countries.

The unwillingness to adopt and the sole purpose of maintaining the authority inside financial aspect of a certain nation. Not every countries are open to this kind of new system, knowing that decentralized is being introduced which means that the control is no longer in their hands. Government mostly concerned with securities and assurance with high volatility of this kind of system it's really hard to other nations to embrace and allowed bitcoin to coexist with their current system.

sometimes also a country that is still unable to formalize crypto in it, because lags behind knowledge that makes some countries that do not allow crypto. I think in terms of government control it will be difficult if it does not have experts.

yes guys, moreover bitcoin has a bad record in the public, some people in my country kidnapped and asked for compensation with bitcoin, there is also an international case, which is a ransomware virus, which is a virus that encrypts a person / company data on their computer, and to open encrypted that, they have to pay a certain amount of bitcoin. so, it adds to the image of bitcoin getting worse for government.

[Zeke_23]

Of course, Bitcoin is difficult for most countries to accept. The reasons are many. This is the conservative policy of the States, the unwillingness to introduce new technologies, so as not to expose the existing economic interactions within the country and abroad to risks. We also know that almost all countries of the world have their own national currencies. And if Bitcoin suddenly becomes able to influence economic processes, it can affect the exchange rates of national currencies and as a result the economies of countries.

The unwillingness to adopt and the sole purpose of maintaining the authority inside financial aspect of a certain nation. Not every countries are open to this kind of new system, knowing that decentralized is being introduced which means that the control is no longer in their hands. Government mostly concerned with securities and assurance with high volatility of this kind of system it's really hard to other nations to embrace and allowed bitcoin to coexist with their current system.

sometimes also a country that is still unable to formalize crypto in it, because lags behind knowledge that makes some countries that do not allow crypto. I think in terms of government control it will be difficult if it does not have experts.

yes guys, moreover bitcoin has a bad record in the public, some people in my country kidnapped and asked for compensation with bitcoin, there is also an international case, which is a ransomware virus, which is a virus that encrypts a person / company data on their computer, and to open encrypted that, they have to pay a certain amount of bitcoin. so, it adds to the image of bitcoin getting worse for government.

This is the main reason why most of the countries are still unable to accept bitcoin, basically, they know nothing but all the illegal activities about it. They don't know its function, how it works, and its uses.
Lacking of knowledge is the main reason why adoption will never happen to most of the countries, if there will be a group of people or even the government itself will explain everything and will start a move to accept it, every individual will probably understand and will start to like it and more likely to use it.

[Getmon]

Of course, Bitcoin is difficult for most countries to accept. The reasons are many. This is the conservative policy of the States, the unwillingness to introduce new technologies, so as not to expose the existing economic interactions within the country and abroad to risks. We also know that almost all countries of the world have their own national currencies. And if Bitcoin suddenly becomes able to influence economic processes, it can affect the exchange rates of national currencies and as a result the economies of countries.

The unwillingness to adopt and the sole purpose of maintaining the authority inside financial aspect of a certain nation. Not every countries are open to this kind of new system, knowing that decentralized is being introduced which means that the control is no longer in their hands. Government mostly concerned with securities and assurance with high volatility of this kind of system it's really hard to other nations to embrace and allowed bitcoin to coexist with their current system.

sometimes also a country that is still unable to formalize crypto in it, because lags behind knowledge that makes some countries that do not allow crypto. I think in terms of government control it will be difficult if it does not have experts.

yes guys, moreover bitcoin has a bad record in the public, some people in my country kidnapped and asked for compensation with bitcoin, there is also an international case, which is a ransomware virus, which is a virus that encrypts a person / company data on their computer, and to open encrypted that, they have to pay a certain amount of bitcoin. so, it adds to the image of bitcoin getting worse for government.

It is the authorities' role to stop these crimes and put to justice whoever is involved with them. It is not Bitcoin's fault that there are kidnappings and spread of virus just as it is not fiat's fault that there is widespread corruption within the governments and plundering of the national treasuries. There are always two sides of something. One good and the other bad. It is up to you which side you are focusing.

[sandra2010]

what i know that China reject bitcoin and any cryptocurrency coins, but in the mean time they will create them own coin.

[Boov]

India has banned the cryptocurrency and hearing is going on court

India has their people more focus on cryptocurrency, there are more people who prefers cryptocurrency in india rather than preferring banks. And also, their government really do want to ban cryptocurrency and hodlers of it might be in jail according to this article: https://www.technologyreview.com/f/614014/india-might-ban-cryptocurrencies-and-give-its-traders-jail-time/

with this, we can infer that people should support first their government after this will be settled, government will trust their people as well. There are countries where cryptocurrency is prominent and even supported by the government.

People need to show proof and tell the government that by legalizing cryptocurrency it can help them to their economic growth. Bitcoin is first to be known used by illegal activities by illegal people, that is why government dont want it also they cannot put taxes nor regulates it, they dont have a solution for this for now.

[Linkkoin]

FATF recommendations, depending on the way they are implemented by each country can become a limitation for Bitcoin. Why is that?
"Travel rule", which works in more or less the same way as with the banking system/card payment.
The receiving party (wallet) must be identifiable. With banks it is simple - there is an assigned and confirmed account owner.
With cryptocurrencies, it would be a lot more difficult.

So then your payout order from exchange/market will need to be accepted. And there is a blacklist of countries where you will be unable to send your BTC from, just because they are considered politically unstable/failed states. And after several attempts to do so, your account could be suspended under further investigation is finished.

A possible and rather temporary solution would be to use in such case a cold/hardware wallet, but anyway - as we can trace the history of each block in the blockchain, you may be put on a blacklist as a person after several transactions only because you as a Venezuelan expat had been sending BTC to your starving family in your homeland

[Linkkoin]

People need to show proof and tell the government that by legalizing cryptocurrency it can help them to their economic growth. Bitcoin is first to be known used by illegal activities by illegal people, that is why government dont want it also they cannot put taxes nor regulates it, they dont have a solution for this for now.

In a number of countries, your BTC earnings are already taxed and they are working (if not yet passed) on regulating it - using FATF recommendations, EU directives (Europe) or national legislation. The point is that regulators are often the people of the past and they want to put a cryptocurrency environment in the more or less similar legal background as a banking system.

[angrybirdy]

People need to show proof and tell the government that by legalizing cryptocurrency it can help them to their economic growth. Bitcoin is first to be known used by illegal activities by illegal people, that is why government dont want it also they cannot put taxes nor regulates it, they dont have a solution for this for now.

It is easy to say, but it is really hard to do. The government is not easy to convince unless you make them realize the factors it can do for their own benefit. Without proper knowledge and explanation or evidence, your proposal to let them know will be out of the chart. The government is actually looking only to their side. If they know that they can't control it, they won't hear you out.

[rokon1234]

what i know that China reject bitcoin and any cryptocurrency coins, but in the mean time they will create them own coin.

yeah some people have bad idea about bitcoin,that's why they always reject bitcoin.

[Kasabus]

If the government accepts bitcoin then people will embrace it, what we need is the regulation as we know how risky using bitcoin due to its volatility.
With government regulated on bitcoin and crypto as a whole, people would be educated and they will understand the risk.

Let's put in mind that not all users are investors and not all investors are users as well.
But.. what we need more users to benefit this centralized system.

[Colt81]

If the government accepts bitcoin then people will embrace it, what we need is the regulation as we know how risky using bitcoin due to its volatility.
With government regulated on bitcoin and crypto as a whole, people would be educated and they will understand the risk.

Let's put in mind that not all users are investors and not all investors are users as well.
But.. what we need more users to benefit this centralized system.

Honestly, we don't need for bitcoin to be regulated by the government because bitcoin is decentralized which they can't control, and put a tax on it. The only thing that we need is that the government should accept bitcoin as a currency, so everyone in the world would start to use and accept bitcoin for online transaction. If bitcoin became centralized, it doesn't have any difference with fiat currency.

[Ayiranorea]

If the government accepts bitcoin then people will embrace it, what we need is the regulation as we know how risky using bitcoin due to its volatility.
With government regulated on bitcoin and crypto as a whole, people would be educated and they will understand the risk.

Let's put in mind that not all users are investors and not all investors are users as well.
But.. what we need more users to benefit this centralized system.

We need more users to benefit out of the decentralized system. With centralized services the effectiveness is low compared to the blockchain technology. Very little number of people around the globe is aware about bitcoin and technology backed cryptocurrencies that has got only the virtual presence. With time the acceptance level of bitcoin in different services keeps increasing, but same as that there are people who fear regulation and stay away from cryptocurrency usage. As in the above quote when regulation will surely help with the market widening of cryptocurrency.

[Kasabus]

If the government accepts bitcoin then people will embrace it, what we need is the regulation as we know how risky using bitcoin due to its volatility.
With government regulated on bitcoin and crypto as a whole, people would be educated and they will understand the risk.

Let's put in mind that not all users are investors and not all investors are users as well.
But.. what we need more users to benefit this centralized system.

Honestly, we don't need for bitcoin to be regulated by the government because bitcoin is decentralized which they can't control, and put a tax on it. The only thing that we need is that the government should accept bitcoin as a currency, so everyone in the world would start to use and accept bitcoin for online transaction. If bitcoin became centralized, it doesn't have any difference with fiat currency.

They can't regulate bitcoin itself but they can regulate its channel, like the exchanges, stores, or anything that accepts bitcoin.
The problem is, if bitcoin is not regulated it will be use for crimes like money laundering because it's not easy to trade and not KYC when using it and of course the scams in the crypto space will increase.

it is where we are going, the government are starting to regulate exchanges, crowd sales, and big businesses because there's a big money flowing on them.

[pundit]

The main reason behind rejection of Bitcoin by any government is its decentralized nature. As Bitcoin is not under anyone's control its difficult to trace any transaction carried out in Bitcoin and I think this is the reason where most of the governments are afraid of accepting Bitcoin into their financial system.Although legalizing Bitcoin payments may attract a good income to any government but risk of crimes like money laundering will be increased.

[makolz26]

The main reason behind rejection of Bitcoin by any government is its decentralized nature. As Bitcoin is not under anyone's control its difficult to trace any transaction carried out in Bitcoin and I think this is the reason where most of the governments are afraid of accepting Bitcoin into their financial system.Although legalizing Bitcoin payments may attract a good income to any government but risk of crimes like money laundering will be increased.

Let's face it, government don't like Bitcoin because of the fact that they cannot control it, they don't know what are they going to do for this, they are after the money that they can collect but they don't know yet how they are going to implement on it because it is decentralized, so they hate it, they want people to pay proper tax so they can corrupt more.

[owengtam09]

It is already adopted by some countries and it already fine, it is still used even though some countries did not adopt it because it can use online, I think the reason why some governments did not want to adapt it, is it because there is no tax with bitcoin. They didn't get anything from it.

[manualwaterfall]

If you transact with bitcoins, holding the bitcoins instead of converting to local currency, it is just as easy as any other payment method

[Blackdeath]

There are really a lot of countries who does not yet accept bitcoin due to fake news that bitcoin is just a scheme to scam other people, which is not true because even bitcoin has a lot of issues of scam projects it doesn't mean it is all about scam and fraud. Bitcoin is a good for a long term investment, that is why a lot of people became rich with it. Bitcoin is also good as a currency because it has fast transaction and it is decentralized.

[tungaqhd]

It's not that easy to accept digital world especially in some poor countries that don't have much access in the internet or that their citizens don't even know how to access computers and still have zero knowledge over the internet. So, it won't be that much easy to accept and adopt. In time it will happen little by little.

I think the biggest problem is the governments, not Internet infrastructure because OP want Bitcoin to be accepted worldwide. The governments don't want Bitcoin because it threaten existing fiat system.

[BuNga_cute]

It is true that bitcoin is very difficult to be accepted by most countries in the world, because bitcoin is considered widely used as illegal
activities such as money laundering, terrorist funding, human trafficking and so on.Though countries the lack of knowledge about bitcoin.
Another reason why bitcoin is difficult for the government to accept because it is considered threatening the existence of fiat and banks.
I still hope that bitcoin can be accepted and legalized by all countries in the world, this opportunity still wide open. Remembering the
countries that accept bitcoin are increasing every year.