Bitcoin is difficult to accept in countries

[DreamStage]

Most of the reasons why China is discussing about blockchain once and and a while is due to creating a new cryptocurrency within their own market.

It's not that other countries think it's difficult to accept bitcoin, it's just the diplomacy overtaken about it is still growing.
They still have to get papers ready, many mouths have to agree in terms of scams, money laundering and so on.

Basically it's only a matter of time till they reach a conclusion just like all of the rest of the countries that already accepted it legally.

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[TitanGEL]

For the first thing is that people still have a wrong perception of Bitcoin and Cryptocurrency, in recent time, A lot of scam crypto project proves it again this platform is not secure yet, a lot of people have lost their money by investing in this cryptocurrency so they are still possessed a negative remark about this system, I think it's just a matter of credibility so not a single government will not allow for such type of vulnerable system for their people. also, no government will not allow a decentralized financial system in their territory.

Governments are considering a lot of factors before they will accept bitcoin and cryptocurrencies in their country. I am sure that before they are making move they are studying it. It is a reality that there are governments who will not legalize the cryptocurrencies because of its characteristics of being anonymous that can use in illegal transactions. Even the use of cryptocurrencies are traceable, the government will not find out if who is the person or the organization that are using it. There are many advantages of the bitcoin but some of the governments see that the disadvantages are more so the result is obvious where they do not have plan to accept and legalize it.

[minersday]

I can say confidently that many countries really appreciate the use cases of the blockchain technology but will never approve of the use of bitcoin because of the financial transparency and freedom that it gives to the people. I see most countries creating their own digital currencies in the near future.

[karanggatak]

blockchain is a technology and bitcoin is a currency that uses blockchain technology. bitcoin cannot be separated from blockchain but blockchain can stand alone without bitcoin and can be used in various fields not only cryptocurrency. so do not be surprised if at this time many countries have accepted and adopted the blockchain but have not yet accepted bitcoin. Most countries do not legalize cryptocurrency because they are afraid that crypto can threaten the sovereignty of national currencies.

[SoeNan89]

I can say confidently that many countries really appreciate the use cases of the blockchain technology but will never approve of the use of bitcoin because of the financial transparency and freedom that it gives to the people. I see most countries creating their own digital currencies in the near future.

The government's will is only to control Bitcoin, so they still won't legalize Bitcoin because Bitcoin is decentralized or anonymous.Yes, I agree in the end they will make their own Crypto while still using the sophistication of Blockchain technology.

[fiulpro]

The thing is they are going to deny bitcoins till the point where they won't have any options left , because you already know how many people are using Bitcoins and therefore the government may try to control them , it can't , it's exceptionally very very hard to control them and it is a good thing , at least for us , the thing is they see is as a threat and people see it as an opportunity , that's the difference the government is very Orthodox that I would say , it needs more president from the younger generation.

[Anonylz]

Since btc is not widely accepted nor has it been approved by the government, am afraid there will definitely be some limitations of it's acceptance, lots of merchants in different countries of the world don't accept btc for transportation, most of them don't even know about it, the one's that are aware some are not comforting accepting it for now.
It will be a gradual process for btc to be widely accepted by many countries.

[rokon1234]

India has banned the cryptocurrency and hearing is going on court

Bangladesh also banned cryptocurrency but in future every countries government will change their decision.

[Cimmy_revenger]

I don't think so , In my country digital asset cryptocurrency it's fine .
And government support and making special laws for cryptocurrency trading.

[fullhdpixel]

I don’t think the government is going to accept Bitcoin and I do have a lot of reasons why I say so.. First of all, Bitcoin is decentralized and there is no control over it, the government will not agree to adopt a currency that they can’t control. You might be asking why control matters? well it matters a lot.

You see, just like fiat, the government wants to be in control, and through central banks, they will be able to issue out or destroy money, they do this by using what is known as monetary policy. By having control over currency they will be able to dictate, track movement of currencies and who is benefiting from the transaction, and that way they also collect their taxes.

[Triffin]

India has banned the cryptocurrency and hearing is going on court

Bangladesh also banned cryptocurrency but in future every countries government will change their decision.

Yeah, and I have also very good expectations about the future of bitcoin that every government will adopt bitcoin in their nation because in the future when they feel that without bitcoin our life is not more easier then in that time no other way for them to accept bitcoin.

[yohananaomi]

at this time we know that the Blockchain is being discussed in large countries. and some time ago the Chinese president was welcome on Blockchain. But what about Bitcoin? there is still a lot of controversy going on. Even the US (SEC) is still rejecting the given bitcoin proposal. while we know. Bitcoin is the first carrier of Blockchain technology for general use. is it because of the basic bitcoin that has an anonymous background? so it is difficult to be accepted by the state. could bitcoin be separated someday? I mean Blockchain will be positively welcomed in the world. while Bitcoin will remain controversial.
share your opinions.

Countries are avoiding Bitcoin at this point because it isn't that big in scale. Therefore, considering it right now won't make much a difference. Whereas Blockchain is a technology which has potential to disrupt many sectors and hence, is hugely discussed topic around the world. Moreover, Bitcoin hasn't been that successful when it comes to payments and it is decentralized as well. Because of which not many countries with complex monetary policies will prefer it.

maybe not all countries will do the same about bitcoin and blockchain technology, because of course regulations or rules are needed to be able to regulate all of that. I agree that bitcoin has not really been successful in terms of payment and decentralization, because every country especially developing countries have not been well connected by internet technology which is a separate obstacle. but with the continued development of technology all countries will have to be willing to accept bitcoin and blockchain.

[DevilSlayer]

I don’t think the government is going to accept Bitcoin and I do have a lot of reasons why I say so.. First of all, Bitcoin is decentralized and there is no control over it, the government will not agree to adopt a currency that they can’t control. You might be asking why control matters? well it matters a lot.

You see, just like fiat, the government wants to be in control, and through central banks, they will be able to issue out or destroy money, they do this by using what is known as monetary policy. By having control over currency they will be able to dictate, track movement of currencies and who is benefiting from the transaction, and that way they also collect their taxes.

That is one of the obstacles of bitcoin, there are countries who doesn't want to accept bitcoin as mode of payment. They are afraid to its characteristics of being decentralized. They are used to have centralized currency and it is fiat money. They can control fiat money because it is backed by the government and the main reason why they do not want to accept bitcoin is because it is decentralize and they cannot control it.

[killerfrost]

I don't think so , In my country digital asset cryptocurrency it's fine .
And government support and making special laws for cryptocurrency trading.

Currently Only a handful of countries are supportive of Bitcoin and cryptocurrency. And there are many countries that oppose cryptocurrencies, which are mostly concentrated in Europe. They fear it will affect the economy so they are looking for ways to stop the development of Bitcoin and cryptocurrencies. In the future, blockchain will thrive, but for the cryptocurrency market, I think it will be constrained and impossible to develop comprehensively.

[BlackFor3st]

at this time we know that the Blockchain is being discussed in large countries. and some time ago the Chinese president was welcome on Blockchain. But what about Bitcoin? there is still a lot of controversy going on. Even the US (SEC) is still rejecting the given bitcoin proposal. while we know. Bitcoin is the first carrier of Blockchain technology for general use. is it because of the basic bitcoin that has an anonymous background? so it is difficult to be accepted by the state. could bitcoin be separated someday? I mean Blockchain will be positively welcomed in the world. while Bitcoin will remain controversial.
share your opinions.

The future of bitcoin will lies to the hand of the governments and to the entities that fully accept bitcoin as it is. With regards to uses, most of the governments will surely create their own coin that they will distribute to it's people once fiat will be replace someday.

The question will always remain whether there will be a country that is willing to fully accept and use bitcoin as their main currency in the future. Being anonymous have plenty of advantages the same with disadvantages so it's up for the country whether what will be their decision either to accept bitcoin or not. Right now I can say the same, most of the countries have difficulty in accepting bitcoin.

[Pinkris128]

There are countries who doesn't want to accept bitcoin because they think bitcoin is not good for the economy and they assume that bitcoin is full of scams and fraud. But in my own opinion even bitcoin was used to illegal activities like scams and fraud, it can still help the economy of a country that it can decreased unemployed people in a country, so i think bitcoin would be accepted by every country all over the world in the near future.

[Gheka]

I don’t think the government is going to accept Bitcoin and I do have a lot of reasons why I say so.. First of all, Bitcoin is decentralized and there is no control over it, the government will not agree to adopt a currency that they can’t control. You might be asking why control matters? well it matters a lot.

You see, just like fiat, the government wants to be in control, and through central banks, they will be able to issue out or destroy money, they do this by using what is known as monetary policy. By having control over currency they will be able to dictate, track movement of currencies and who is benefiting from the transaction, and that way they also collect their taxes.

But many governments do not accept bitcoin is still something correct because if bitcoin is not completely controlled, many people will adopt those features to evade taxes, a society with so many people evading taxes, facilities and utilities, services will decrease in quality and cannot develop, if people were automatically paying taxes from bitcoin, this story would have followed a different trend but obviously, no one likes to pay taxes, so we can't complain about the government. We should even feel lucky that the government doesn't strengthen the restriction on bitcoin usage, almost they stand outside watching bitcoin grow.

[Eugenar]

But many governments do not accept bitcoin is still something correct because if bitcoin is not completely controlled, many people will adopt those features to evade taxes, a society with so many people evading taxes, facilities and utilities, services will decrease in quality and cannot develop, if people were automatically paying taxes from bitcoin, this story would have followed a different trend but obviously, no one likes to pay taxes, so we can't complain about the government. We should even feel lucky that the government doesn't strengthen the restriction on bitcoin usage, almost they stand outside watching bitcoin grow.

Basically with the local exchanges that we have, it is impossible that these applications aren't really getting taxes from the cash in and cash out of us. Literally all of our transactions are taxable when it is passing through our local exchanges. We have here the coins ph, and I am pretty sure that they are getting tax out of my investment, even if I am just cashing in a small amount of money, they still have a small percentage out of it. Their problem would just going to be if the fiats are all converted to cryptos.

[iamsheikhadil]

I think if blockchain is used and welcomed by many countries then surely a financial coin may it be Bitcoin or any other coin based on blockchain will and must be accepted by them, I think the government fears the impact of it in the criminal world because criminals would then be able to recieve and send funds anonymously.

[tianglistrik]

I think if blockchain is used and welcomed by many countries then surely a financial coin may it be Bitcoin or any other coin based on blockchain will and must be accepted by them, I think the government fears the impact of it in the criminal world because criminals would then be able to recieve and send funds anonymously.

the government of each country must be different, some relieve bitcoin and some reject it. sometimes they see their potential so they do legality and they can exercise some control. whereas countries that have not seen legality might think like that, because handling bitcoin will be difficult in my opinion especially for small countries.