Why not all countries accept bitcoin

[Mouhadheb 196]

It is very easy, as countries that refuse to use Bitcoin say that it is decentralized and we cannot control it, and this does not negatively affect the currency because its popularity is increasing significantly.

[Mubiflow 1771]

1 hour ago, M.bello said:

Hello mate I think is a nice idea if country will accept bitcion and will boost that country economy not with standing many illegal work could be done with bitcoin but if they can follow the due process is going to create job opportunities for others to earn a living

Yes @M.bello this is very true some some country have to accept this mode of exchange as it can go in a long way to help the growth of their economy and also development of their international trading and investor's

[Michaelx018 0]

cryptocurrencies do get some bad reputation because of the fact that it is not controlled by a governing institution rather it is only a payment system between user to user. therefore a lot of black money and money laundering possibilities are there in the system. Which might be the reason why some government still don't consider the use of cryptocurrencies.

[DreamStage 2105]

Some countries just prefer to tax everything they can from their own people.

 

A variety of investors from those countries tries to use cryptocurrencies to escape such big tax amounts where they can take out most of their profit income without the need to waste it all at withdraw or tax usage.

 

There are many other reasons which i can not give in detail but one of the most reasoning is the fact that some people use Cryptocurrencies to buy illegal goods such as drugs or weapons.

[Hamza 2.2 631]

Many countries are not tolerating crypto in light of the fact that perhaps it has something to insult their nation strategy and law.maybe they need to see how Bitcoin functions first.they need somebody to clarify how this cash functions.

[OVIROY21 499]

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.

[joemcgwa 3227]

It is something thats very impossible for the whole world to be the same view, so thats why there have countries thats looking bitcoin good and other looking bitcoin bad.

[MoralStories 1127]

They are afraid of the use and illegal activities that are being here in the field of cryptocurrancy that is why they are not accepting the btc, but these things are already happening.

[Michar1 1693]

Many of the countries are struggling with the term of cryptocurrencies, it is not that they are illegal but that they do not like the idea of a digital currency that allows you to pay low commissions and that is practically in your custody.

[Yoanny 232]

Every country has its own policies, or its own fears, let's say that way too. If you think about it, btc brings freedom, freedom to do with your money what you want without the control of the central banks.

[freelancer 900]

I think cryptocurrencies deprive them of some bad reputation. It is banned in many countries. I think it has a black money deposit system so it has been banned in many countries. Because of this black money, perhaps not all governments consider using cryptocurrency.

[Artugul78 91]

The reason many countries do not accept cryptocurrency as legit is because cryptocurrency is not a reliable currency and there is a possibility of a lot of black market by this type of currency so maybe many countries are afraid or not to accept this cryptocurrency

[Kenciuu 1729]

Because some of countries thinking bitcoin as illegal because it doesn't support the government also maybe because of their currency does not belong to block chain. But some countries did not ban bitcoin even if they think it is illegal. Bitcoin can circulate in any country just to make sure there is a wallet that support your currency and crypto so you can exchange it with real money

[Klaus sonal 0]

I think in light of the fact that Bitcoin is a decentralized money dependent on what I read on other post it implies that nobody can control. That is the thing that I know so the other nation doesn't acknowledge bitcoin on the grounds that they have no control on it.

[TanechkaSuhina1070 0]

Bitcoin and cryptocurrency are developing very quickly, regardless of their legalization in countries. The cryptocurrency is itself, and this was originally conceived. Therefore, there is nothing wrong with the fact that many countries have not yet legalized it.

[godislovefll 1880]

On 1/8/2020 at 5:58 AM, Lard79 said:

As I know, not all countries accept bitcoin, does anyone know why, whether bitcoin is legal or not, but in fact the development has increased significantly

It is something that we all ask ourselves, let's hope one day world governments accept BTC and in my opinion one of the factors why it is not accepted is because each country has its local currency and its traditional banks and when accepting BTc or any other cryptocurrency these could stop being used.

[Mubiflow 1771]

@godislovefll it's true they or some countries are yet to adopt the use of btc in their economy which I think its for some selfish political reasons but I know within few years the whole world will be trading bit coin

[Brandonsaw 1973]

Bitcoin is the cryptocurrency most used to commit crimes since with it they make transactions on the black market, they use bitcoin as a form of payment since bitcoin is anonymous and cannot be traced, so in some countries bitcoin is illegal.

[Cleaner 2549]

19 hours ago, Mubiflow said:

@godislovefll it's true they or some countries are yet to adopt the use of btc in their economy which I think its for some selfish political reasons but I know within few years the whole world will be trading bit coin

@Mubiflow...Bitcoin is legal in some countries.  However, bitcoin is not legal in many countries.  Because all countries think it is an illegal currency.  Because it has no controller.  As there is no regulator of this coin, no country legalizes this coin.  And the most basic reason is that its price pumps and dumps.  No country will easily accept this coin for this.  However, if a country uses cryptocurrency, then that country will be much more developed.

[Maya20 1048]

The countries that have banned Bitcoin are countries that prevent real capital from escaping into the world of virtual or digital currencies, and this is for fear that virtual currencies will become stronger than paper currencies in the future.

[yulitzacalvete 1366]

This is because countries by accepting it would turn their backs on their national currency and they know that this does not suit them as a government, but perhaps they are wrong so we have to wait if one day the BTC may be the solution to so many economic problems in many countries

[reta213 766]

Because it is a decentralized currency, like bank banks, and not from a government agency, so it is not desirable. And my country, no one has even heard of it, but I got to know it from the Internet, and when they heard about the electronic currency, they were surprised.

[jappy 1129]

It is so simple that some countries do not agree because they use their tangible currency and use their banks to charge high commissions, in fact this will come but over the years.

[Teminali69 1081]

On 12/3/2020 at 5:28 PM, Klaus sonal said:

I think in light of the fact that Bitcoin is a decentralized money dependent on what I read on other post it implies that nobody can control. That is the thing that I know so the other nation doesn't acknowledge bitcoin on the grounds that they have no control on it.

But if they had control do you think they would have accepted it? NO they would have easily banned it and be done with the threat. That is why the genius Satoshi Nakamoto made sure that bitcoin is decentralized and untouchable.

[Reyna 576]

Well, many countries didn't accept cryptocurrency coins like bitcoin it's because it can be used in illegal ways, government has no controls on cryptocurrency because of being decentralized so that people are free to used it in any kind of transactions.