Top 10 Countries in Which Bitcoin is Banned

List of Countries that have Banned Bitcoin:

Thailand – The Thai treasure banned bitcoin outright.

China – The Chinese treasure enacted policies on bitcoin that pretty much restricted the use of the virtual currency.

Taiwan – The country’s Financial Supervisory Commission (FSC) blocked efforts to install Bitcoin ATMs in the country and restricted its use as an alternate currency.

India – The Indian’s central bank published a lengthly document against the use of bitcoin. If the country is not accepted by the central banking system, it’s pretty much useless.

Germany – The German government and central bank Bundesbank formally accepted bitcoin as a private virtual currency but not as a public currency.

Bolivia – The developing country claims bitcoin was created by the United States government to wage financial warfare on other countries!

Russia – The Russian Prosecutor General’s Office says “Systems for anonymous payments and cyber currencies that have gained considerable circulation — including the most well-known, Bitcoin — are money substitutes and cannot be used by individuals or legal entities.”




Bitcoin or what?

Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.

How does Bitcoin concern you? As a developer, individual or business person. Everything. Digital currency is changing the world we live in.
Let’s say for an example, you wanted to transfer money from Australia to US. How would you do that? At the bank right? $100,000 AUD/US, whatever. It will take at least 3-5 days to get the money across and also a hefty fee on top as well for service fee etc. Bitcoin probably will take less than 24 hours depending on the network. Probably 1-2 hours or less with a very low fee. There are other cryptocurrencies where you can check here.

Article here IF you invested $10,000 of Bitcoin Investment in 2010, NOW it is Worth $200 Million, Gold $9,900.

Tip*: Best to buy at least 1 BTC and hold. (I have been following the market sometime now and there are speculations that it will hit $10,000 by next year)(Possibly 1 Million dollar) Never too late to get in and buy one!

At this time of write up.
1 BTC = $2344.06 AUD | $1731.52US

If you don’t want to buy Bitcoin (BTC), you can buy Ethereum (ETH). It is the next boom.

What can you buy with bitcoins?
Many things such as:
Buying physical goods with bitcoin:

  • Online e-commerce sites
  • Using bitcoin to obtain discounts
  • Bitcoin gift cards
  • Physical stores that accept bitcoin

Hotels and property
Bars and restaurants
Payment platforms
Buying services with bitcoin:

  • Web/tech services

Bitcoin gambling sites
Bullion traders
Online bitcoin marketplaces and auctions
Tipping, or donating bitcoin to a cause
And much more…

Bitcoin will hit $10,000 and even $1 million. Experts predict

Bitcoin (Reddit)
Bitcoin FAQ

Do your research.

* This is purely my research and opinion. I take no responsibility. It’s like stock, only invest what you can afford to lose. High risk = High reward.

If you found this post useful. You can donate some tips to me [Thanks! =)]:
BTC: 1D2KC3GU1B7kAuqiNq3RuovMDj1V2uCUHF
ETH: 0xfc7435ab61cf6c0360738565c9dbaf24cbbc3b40
DSH: Xw9vGqPhPLKSHgkukBvAKn1X6JUDufXmj4
LTC: LUxL9n6UYDtbFwwttEm8kJmNLCiKChHMni