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But if you are using Adsense then traffic from all countries is game, technically. But not practically......

Traffics from different countries are different and cannot be the same. It mostly depends on how much the advertisers are willing to pay in a particular country. That is why most webmasters would like to target their websites to U.S. audiences, because U.S. advertisers usually pay more. So, if most of your traffics come from India (just as a example), your AdSense earnings will be much lower because Indian advertisers usually pay much less.