Why not all countries accept bitcoin

[khan22 3478]

On 1/8/2020 at 3:18 PM, Black_Sword said:

I think because Bitcoin is a decentralized currency based on what I read on other post it means that no one can control. That is what I know so that the other country doesn't accept bitcoin because they have no control on it.

Decentraized currencies are not legal this time in so many countries becasue no one know who is the owner of that coin. When the crypto coins owners will pay the tax to the government they will easily except it.

[Rubayed123 991]

Some of the counties who are not updated with technology or the people are not properly educated are afraid to accept bitcoin. They think that it may be used for criminal activities as you can never locate the sender. There is no trace of money. Even the government can't use vat on this currencies. So, they are not ready to accept this currencies.

[The Game 2059]

In my own opinion bitcoin is a new technology that requires a lot of knowledge in other to process however the government would not want to rush it into the system simply because it would take time for individuals to learn how to operate it and during that time a lot of damage would happen which is why the government choose to make it illegal.

[Mubarak Salihu Ahmed 1350]

Why most countries don't accept bitcoin is because it is decentralized currency,it is not under the tax system and the government cannot control or regulate it.and the government fear fraudulent and money laundering activities with this cryptocurrency.and most importantly this country's are not technologically efficient and developed 

[Abbas2.0 812]

On 1/8/2020 at 4:46 PM, Sajjad Hossain said:

Bitcoin is one of the main means of transaction, not all countries are aware of Bitcoin, so not all countries are aware of its usefulness, so all the countries of the world can not accept it due to lack of use of bitcoin in European countries.  Everyone should know and give ideas.  Then there will be acceptance in all countries

Same reason was also in my mind, it will be accepted by every country in later time but who accept sooner will get more advantage as compare to those who accepts later

[Malik9532 1276]

I think it depend on their laws  and their policy and they can not adopt crypto currencies bitcoins that's , why  many countries rejected the bitcoin  . And no one can control bitcoin currency and many countries don't get positive .

[Nupeboy 627]

Bitcoin is not acceptable in some countries because they take it to be illegal and they believe that it will have more value that their currency and maybe am thinking because Bitcoin is un tracible that is why they are afraid to accept it 

[Mdhassan 270]

You are right in straight path most country don't accept any crypto currency not only Bitcoin but I'm thinking as we get use to it every day and government and citizens sees it value they will gradually welcome it offer.

[cryptoman22 1026]

In my humble opinion, in many countries cryptocurrencies are illegal for the simple reason that governments do not have total control over them and do not want to leave power to the population that is the fear that governments have that they do not affect cryptocurrencies
A big hello to the whole community and good luck and great winnings

[Sanjana321 6]

On 1/8/2020 at 4:25 PM, iloveyobit said:

I have seen this post before, the reason is their fear of the collapse of their local currency first and also because digital currencies are decentralized and the risk is too high for that to be prevented in some countries.

 

Thanks brother for sharing your valuable information and it is very helpful for other members in this forum. In my opinion I think the government will not be having any control over the crypto currency.

[Msh9 84]

I think, my friend, some countries do not accept working with these currencies in order to preserve their currency and the value of their currency remains the same and not subject to decline because of this currency

[Raven 7817]

On 1/8/2020 at 5:58 PM, 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 basically because of being decentralized of Bitcoin. Bitcoin is decentralized or volatile it means that no one can manage to control it so many government don't want this to become legal in their country. That's what I know.

[Cryptonas 1550]

On 1/8/2020 at 11:55 AM, iloveyobit said:

I have seen this post before, the reason is their fear of the collapse of their local currency first and also because digital currencies are decentralized and the risk is too high for that to be prevented in some countries.

 

Yes, I guess the main reason is collapsing of local currency and the rate of corruption will increase in such country because Bitcoin can't be control and it is not traceable and the government can't withstand with the risk involve it. I guess most of this country that doesn't support Bitcoin are lacking some digital facilities which may support the smooth running of digital currency activities...

[Camilah15! 663]

Most contries reject bitcoin because of its volatility, decentralized nature and its also perceived as a threat to the monetry system of the country.Illicit activity like drug trafficking and Money laundering can be done easily using bitcoin or any other crypto currency.

[Abuhassan 89]

Not every country will accept Bitcoin right now perhaps untill when it adoption has gone viral among top tier countries but countries will tend to create their own crypto currency that will undergo regulation.

[Hanbal 359]

On 1/8/2020 at 1:58 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

The legality of bitcoin varies from country to country some countries neither legalise it nor banned it but some citizen trade it and store it without any problem but there are few countries who legalise bitcoin by government like germany, china, Australia, south korea and japan.

[Nicole018 4548]

Many countries are of the view that cryptocurrencies are traded under the shadow for illegal activities and other fraudulent activities. and the fact that cryptocurrencies are a decentralized system makes many nations and government apprehensive about its usage as they are beyond the control of the central banks of those Nations. 

[leakydonney 1402]

@Lard79 Obviously there are some factors and reasons that keeps pumping the value of Bitcoin even if its not been accepted in other countries such as its value rise up which comes from its perceived scarcity since almost 85% of the Bitcoin has already been mined and another reason for Bitcoin's price appreciation is its growing adoption as a payment method as recently being announced by PayPal that soon its to allow its users and merchants to buy, sell, hold and accept Bitcoins as payment method

[Pranto1 40]

I think one of the main reasons why in some countries are banned in Bitcoin and any other cryptocourse., If they can be valid, they need them first to analyze how it can be helpful for everyone. Well I hope that soon all countries worldwide begin to accept Bitcoin because it is a new technology that will invent the future.

[Siam50 923]

Bitcoin is a digital currency that is initially limited to the Internet.  It is illegal in many countries of the world.  It is not a legal tender recognized by the government.  So it would be a crime to work with bitcoin in countries where cryptocurrency is banned.  So people are aware of the use of prohibited currency.  Bitcoin is banned in most countries in Asia, but it is legal in many countries in Europe and Africa.  Not all countries accept cryptocurrencies because they are banned by the government.

[yato987 2811]

the only reason countries and governments consider crypto as illegal is because they can't control them and also will be hard to trach people who use them that's what gives criminals a new ways to hide themselves and do more crimes while dealing with crypto instead of fiat money since it will be more safe for them this way

[mohamedpc1 2213]

Countries do not accept dealing with Bitcoin inside the country, meaning companies or shops cannot use Bitcoin for payment, but you can deal with Bitcoin over the Internet and use an intermediary in order to transfer your money easily because Bitcoin is not subject to the laws of the global exchange, it is forbidden and is considered like the black market

[Noman tabassum 1334]

Every country have their own term and conditions. They don't accept bitcoin because there is no proper platform to Handle this. It's a great platform for you to learn and earn at the same time. You will really enjoy this Platform and you can share your experience with others people also by posting your content 

[ABIR21 426]

Many country banned bitcoin. Because bitcoin is independent currency.  Government  cannot  do interfere on it.  Its price depends on supply and demands. None can handle it.  That's why many countries banned it.  

[Freya87 467]

Every country has thier own law and protocol. May be a country which not accept the cryptocurrency or bitcoin is not include in thier law and protocol.