Where bitcoin is illegal?
Where bitcoin is illegal?
Like banning drugs, alcohol, or the internet, banning bitcoin sounds nonsensical
Nevertheless, that’s exactly the case in five countries: Bangladesh 🇧🇩 , Bolivia 🇧🇴 ,Ecuador , Kyrgyzstan 🇰🇬 , and Nepal 🇳🇵..
Some countries banned bitcoin maybe because they saw bitcoin as a threat. But if we prove to them that bitcoin, the first digital payment system, is safe to use, good for investing, and also can make the country successful , maybe oneday the government will realize that bitcoin can be acceptable to every transactions.
In my opinion countries who banned bitcoin maybe because they were afraid that those people who belong in the bitcoin world would quit their real job and start to full time in bitcoin in this case government cant benefit taxes that an employee can give to the government because no one can control with bitcoin due to its anonymity of users.
They don't totally understand the positive effect of bitcoin in all levels of the society which enables a person to get an extra income in this kind of business.
Bitcoin: Benefits and Risks:
Low inflation risk. One of the biggest problems with our current dollars and other currencies used around the world is inflation. With Bitcoin you don't have this problem because the system is designed to make Bitcoins to be finite. Only about 21 milion Bitcoins will ever be released. The release of new Bitcoins is slowing down and it will stop completely within a few decades.
Low collapse risk. Regular currencies depend on governments which fail occasionally. Bitcoin is not regulated by any one government. It's a virtual global currency.
Safe simple and cheap: The problem with traditional online transactions from the perspective of the seller is that Credit cards, PayPal you and other online payment systems allow buyers to claim their money back. With Bitcoins once you have the money you have it and that's that. Buyers can not in any way take the money back and the seller can safely ship the product or perform the service that the client purchased.
Easy to carry: Not a real problem that needs a solution, but you can carry a billion dollars worths of Bitcoins on a memory stick in your pocket. You can't do that with cash or even gold.