Topic: ㅤ (Read 162 times)

Most of these countries have some kind of autocratic and dictatorial regimes, human freedoms exist only on paper and there is nothing strange in the fact that Bitcoin is completely or partially banned in such countries. The authorities in these countries do not want their residents to be able to legally buy or sell Bitcoin, because if the people are poor and uneducated, it is easier to govern.


Electricity may be cheap, but you forget about the infrastructure, which is usually very poor in such countries - and you have to count on the daily power cuts. The best example is Iran, which is at the very top of your list - because they do not have enough electricity even for the basic needs of their population, let alone support crypto mining 24/365.

Another important thing is that African countries have very high temperatures, which can significantly increase costs due to the increased need for cooling.

China's "ban" is as good as an implicit ban, there is no enforcement. I'd make a list of bitcoin ban enforcement and non-enforcement, because any law that a country refuses to enforce could be illegal for the formality in protecting their own currency, but does not offer any restriction on Bitcoin use. And plus, China is not rounding up users of Bitcoin and fining them or throwing them in jail, and their communist government has that power delegated to them.

I find it funny seeing so many world governments trying to actively ban BTC and other popular cryptocurrencies for various reasons and keep failing again and again because it's literally impossible to fully ban them.

There is always a way to trade cryptocurrencies no matter how many bans are imposed on them just like nature always finds a way which is the absolute truth.

You are right. There is not much difference in practice. People still use bitcoin and the ban appears to just prevent banks and government regulated establishments from getting involved in it. The downside is such a stance already shows that the country is anti bitcoin and this could be an avenue to victimize citizens caught using it.

It could also set a platform for future actions. The nations with total bans most probably did not start off that way and experimented with less stringent bans before putting a total ban in place.

I do think that we will be seeing many more countries trying to ban cryptocurrencies because of the launch of CBDC'S which would force them to undertake such steps and at the same time there are countries which might not have upright ban but the regulations are pretty bad, it might not be in paper perse but still the bank, the authorities use everything from Twitter to Facebook to ask people not to engage in cryptocurrencies like bitcoins. But at the same time there are other emerging countries which are adopting bitcoins and causing a positive impact on the whole thing for example : Ukraine. They might be a less significant nation right now but they are honestly becoming a true hub of cryptocurrencies.

Kinda wondering this but it was stated in the image is that Myanmar is trying to limit the usage of cryptocurrency as a payment option in their country so in this case owning and storing cryptocurrency as part of investment is not really defined as 'using' cryptocurrency is it or does it?


Well actually they are trying to 'improve' the situation by banning crypto because there is no reason for people in these unstable political situation country to actually trust and stick their government anymore if they have another 'currency' that they can rely on. Yeah this is the silly 'solution' that they come up with

I am quite surprised that among the list of countries listed, there is my country which is quite the opposite. Because in our place, crypto is still a special asset and is considered to produce the most profits compared to other investment assets which investors almost abandoned after knowing that investing in Bitcoin is a store of value and a safe investment alternative without tax cuts. As said the converse suffices to imply that this cannot be proved in its entirety. If, for example, the surveyor the data taken is data from parties who want to try to close the movement of cryptocurrencies.

I agree with what Mr. Charles-Tim said above, and it is supported by the situation and conditions in the country where I live.

Very interesting data, Ratimov, and thanks for posting it.  

These countries that have an absolute ban on crypto caught my attention, because while goofing around on the internet this morning I came across a website that lists electricity costs around the world, and some of the countries where crypto is banned (on any level) have the lowest electricity costs in the world (the crappy MS Photos red streaks are hard-banned countries, and green is for implicit ones):


Source: https://www.globalpetrolprices.com/electricity_prices

I guess that's a coincidence...?  But man, those areas would be the best in the world for mining any kind of crypto.  I'm sure I'm not the first person who's noticed this, but I've never seen it pointed out on the forum before.  Does anyone think it's not a coincidence?  Perhaps the governments in those countries with bans don't want their citizens starting to suck up all the electricity and possibly evading taxes while doing so.  That doesn't sound so crazy to me, but I haven't had much sleep lately and my eyes and brain are both so glazed over that probably nothing would surprise me.

It is sad to see that those countries are the ones where Bitcoin is most needed.

In developed countries the inflation rate and the real value of the currency is somewhat controlled.

In Brazil, for example, we have 10% inflation every year, and our fiat (BRL) lost 43% value against USD in 3 years. Our fiat currency is a memecoin which will go to zero in short/mid-term. And we are not the worst country of that list, and thankfully it is very easy to buy bitcoin here.

Even if bitcoin price drops 20-30%, in the long term the price will rise in BRL value, because BRL is going down. Just like most of the countries in that  list.

After the whole ban, bitcoin is still functioning, it remains being an asset, money and currency. This proves how bitcoin can not be banned in the world as a whole. As one country ban bitcoin, the other country supports it. I remembered when mining pools in China are generating 65% of bitcoin mining hashrates, China made bitcoin mining illegal, some US miners saw it as an opportunity, this led to increase in hashrates generated by US miners while Kazakhstan also follows.

About total ban and implicit ban, I still do not see anything much that different from adoption in countries that only implicitly ban bitcoin. Or maybe it is not like how it is in my country. In Nigeria, bitcoin and other decentralized currencies (cryptocurrencies) are banned by the Central Bank of Nigeria (CBN) but Nigerians are still getting themselves involved in cryptocurrencies. Nigeria has the highest P2P trading in Africa. Direct bank transactions are banned but people are making use of direct p2p, decentralized exchanges and centralized exchanges to exchange bitcoin and altcoins to fiat.

I am not surprised to see four Northern African countries among the eight countries that placed total ban on bitcoin, but the sub-sahara Africa countries are friendly with bitcoin and taking part in its adoption.

ㅤ