Bans on crypto now looks like a joke - page 5.

irhact

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Quote from: Crypt0Gore on April 18, 2023, 03:09:48 AM

Banning crypto is no more effective on crypto itself, it's now more like a pure joke, I would still like to see the U.S embrace crypto more than China, just my own answer to my question, what about you?

Banning of cryptocurency is never a joke and doesn't look like one as it does have its effect on the market. For example, if US was to banned Bitcoin today, the market will react very negatively and until another law is passed to contradict the ban, the market wouldn't recover. The government understand this and have been using it to their advantages which is why China bans Bitcoin related services in the industry in the past.

While we have people still making use of cryptocurency when they're banned in a country, it can't be compared to when cryptocurrency was welcomed in the country. Using your china example, even though 30 million users are using cryptocurrency, that number would had been in their thousands if millions of Bitcoin was welcomed by the government.

Ndabagi01

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Quote from: Crypt0Gore on April 18, 2023, 03:09:48 AM

Which country between these two would you rather see welcoming crypto and fully embracing Bitcoin? China? The United States?

I would prefer that China embrace and legalize bitcoin. With their adoption, more individuals will get acquainted with bitcoin, implying a growth in the number of users who own bitcoin.

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At this point in Bitcoin and crypto life, Ban is no more an issue it seems, what do you think about this? It's like saying a country ban VPNs where as you can bypass any country's FireWall.

Banning crypto is no more effective on crypto itself, it's now more like a pure joke, I would still like to see the U.S embrace crypto more than China, just my own answer to my question, what about you?

Bitcoin is simply too powerful for the government to regulate and control. Many countries have banned the usage of cryptocurrencies in their countries, but statistics show that some of these locations have the highest number of bitcoin users. Countries that are unable to regulate its use simply require individuals who use it to pay a tax.

someone703

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Quote from: Crypt0Gore on April 18, 2023, 03:09:48 AM

(...)Banning crypto is no more effective on crypto itself, it's now more like a pure joke, I would still like to see the U.S embrace crypto more than China, just my own answer to my question, what about you?

Banning cryptocurrencies may not be effective in controlling the flow of cryptocurrencies, as crypto transactions and activities can be done privately. However, this also depends on how and to what extent countries implement crypto bans. On the issue of the United States being more accepting of cryptocurrencies than China, this is a view and desire of many in the crypto community. However, the adoption of cryptocurrencies must also be based on appropriate regulations and risk control to ensure the security and stability of the financial system. In short, countries need to be careful in accepting and managing cryptocurrencies. Banning cryptocurrencies may not be effective, but it is also necessary to ensure the security and stability of the financial system.

Jawhead999

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I don't know where you live, but if you think bans on crypto is a joke, you can move to a country where Bitcoin is illegal [1] and then create a business where you're accepting Bitcoin as the payment. You can launch a seminar to talk about Bitcoin there and don't forget share your experience after you did that.

Don't blame me if you get caught by police and you need to go to the jail Tongue

[1] https://en.wikipedia.org/wiki/Legality_of_cryptocurrency_by_country_or_territory

348Judah

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Quote from: Crypt0Gore on April 18, 2023, 03:09:48 AM

Which country between these two would you rather see welcoming crypto and fully embracing Bitcoin? China? The United States?

I will rather go for United States, ban in America is not a complete ban everywhere as in China, you can still work out having your mining rigs around the States and also no legal ban on complete disapproval for use of bitcoin in the United States, China has made their own final say concerning cryptocurrency at large, anyone still found in using crypto or any other affairs related to that has gone beyond the law and is due to face the consequence, this makes me to believe more about a suitable and crypto friendly in United States than China

Flexystar

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Yes it’s usually starts with crypto ban news from the governments office but soon they realise that it’s just imaginary thing. There is no possible way to ban every website/exchanger/wallet available out there and put the users down with it. In fact peer to peer transactions have proven a cryptos private network time to time thus keeping them in loop with the entire blockchain. There is simply no possible way to ban it and that’s what power of public ledger mean in broader sense.

If it wasn’t for blockchain through millions of computers then it should have been for nothing. The technology is literally being explored and used by various governments for their own purposes. Let’s say data vault.

So this is sure, they not gonna do anything about blockchain in the first place. It thus proves that there if blockchain is going to exist then bitcoin and other coins forever to the infinity.

pooya87

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Quote from: Oshosondy on April 18, 2023, 03:24:03 AM

Quote from: Crypt0Gore on April 18, 2023, 03:09:48 AM

Which country between these two would you rather see welcoming crypto and fully embracing Bitcoin? China? The United States?

Chinese government is looking for all possible ways to ban bitcoin but United States are looking for more ways to regulate exchanges and cryptocurrencies.

In other words they have both banned bitcoin in their own way. China with a regime that is more similar to the traditional definition of dictatorship while United States has a regime that is the modern definition of a dictatorship.

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Immediately after the last ban, bitcoin mining hashrates when to zero.

You seriously need to look at hashrate charts before making weird claims like this. As a matter of fact the hashrate only dropped a little after the ban, then the price started crashing which led to more drop in hashrate, it was never significant though and definitely never down to zero! lol

summonerrk

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Quote from: Crypt0Gore on April 18, 2023, 03:09:48 AM

Which country between these two would you rather see welcoming crypto and fully embracing Bitcoin? China? The United States?

I read an article that says that upon the ban of Cryptocurrencies in China over 30 million Chinese are using Crypto in the country.

At this point in Bitcoin and crypto life, Ban is no more an issue it seems, what do you think about this? It's like saying a country ban VPNs where as you can bypass any country's FireWall.

Banning crypto is no more effective on crypto itself, it's now more like a pure joke, I would still like to see the U.S embrace crypto more than China, just my own answer to my question, what about you?

The culture of the USA has an inexplicable influence on the whole world, probably it started with songs and movies, but grew into something more.
Now any event in the USA has a huge impact on the whole world. And I think that the full adoption of cryptocurrencies in the US will have an incredible effect in the world. Their adoption in China is not even comparable to such an event.
And I hope that all this will happen soon.

arwin100

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Quote from: Crypt0Gore on April 18, 2023, 03:09:48 AM

Which country between these two would you rather see welcoming crypto and fully embracing Bitcoin? China? The United States?

I read an article that says that upon the ban of Cryptocurrencies in China over 30 million Chinese are using Crypto in the country.

At this point in Bitcoin and crypto life, Ban is no more an issue it seems, what do you think about this? It's like saying a country ban VPNs where as you can bypass any country's FireWall.

Banning crypto is no more effective on crypto itself, it's now more like a pure joke, I would still like to see the U.S embrace crypto more than China, just my own answer to my question, what about you?

I'm more interested to see china welcoming crypto than US since there are so many crazy regulators in USA which is totally skeptical about existence and its usage. They are old school or maybe they don't want this because they can't control this currency.

Maybe for now China bans it but for sure in future if all things became well on crypto space they might consider back again to acknowledge crypto and let their people use it again.

killerfrost

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I agree that this is a joke, the way I see countries that have not really accepted the legitimacy of crypto is probably about the fact that the legal corridor has not been able to solve the problems that come with it, some This market thing goes against the control criteria of the government apparatus. And we need time to like to think, I'm not too concerned about which side the US or China will do better, because I expect both will have a positive view of this area in the future, instead of banned, countries can find ways to properly regulate and control crypto-related activity, protect people, and facilitate the sustainable development of the market.

avikz

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Banning crypto is no joke! It is true that cryptos can't be banned through a legal provision, but a government can take extreme measure to make cryptos irrelevant in their country. China has been doing that since the inception of ICOs but they haven't yet gone to extreme.

Also US has started taking some harsh measures against crypto companies. Apparantly they will not ban crypto entirely but they would want to regulate the crypto market in their country.

Don't underestimate the power of a government. They can go to extreme if they really want to achieve something at any cost.

dothebeats

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I'd choose the US to break the rules and regulations on crypto bans over China. The latter can literally make you disappear if they don't like you, and your family won't be able to do shit about it. Whereas in the US, you can evade the law for a long time and you can even get out of the country when things go out of hand. Compared to China, who often employs drastic measures to eliminate those deemed enemies of the state, the US is still relatively lenient.

Even still, people will still find a way to play around these bans and restrictions, as they always have throughout history. Though if I'm going to break a law, I'd take my chances on a country that doesn't have the reputation of having criminals "disappeared" like smoke.

passwordnow

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Quote from: Crypt0Gore on April 18, 2023, 03:09:48 AM

Which country between these two would you rather see welcoming crypto and fully embracing Bitcoin? China? The United States?

US for me. They're just strict but they're welcoming crypto adoption, unlike China, despite all of those announcements, they're likely cracking down places there that have been involved in any crypto-related activities like mining plus the fact that their government type isn't really friendly at all.

Quote from: Crypt0Gore on April 18, 2023, 03:09:48 AM

I read an article that says that upon the ban of Cryptocurrencies in China over 30 million Chinese are using Crypto in the country.

And that's good because their banks are also controlled by them so citizens that are wise understand that they shouldn't allow the banks to hold their money which is controlled by the government of China.

Quote from: Crypt0Gore on April 18, 2023, 03:09:48 AM

At this point in Bitcoin and crypto life, Ban is no more an issue it seems, what do you think about this? It's like saying a country ban VPNs where as you can bypass any country's FireWall.

Well, we've been used to seeing this news, and even if they ban it. As you've said, there will be a lot of ways to hide it from the authorities.

Quote from: Crypt0Gore on April 18, 2023, 03:09:48 AM

Banning crypto is no more effective on crypto itself, it's now more like a pure joke, I would still like to see the U.S embrace crypto more than China, just my own answer to my question, what about you?

The same as you, they're strict and like more regulations but much better than the latter.

Spaceman1000$

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Yes the ban is more like a joke, the effect the ban has is majorly on government institutions, individuals can easily carry on with their various crypto transactions. Just the way a good number of Nigeria youths that are tech savvy are into crypto and they are doing extremely well even when there is a ban on it by the authorities.

Merit.s

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Government that are after their citizens freedom of living their lives,has seen that there is no way they can put a ban on crypto,so they have turn to regulate it in order for the government to benefit from it by taxation. Bitcoin has uplifted its users from hardship and this a good impact,the US government understands this fact and that is why the US government will not ban crypto but regulate it so that both the citizens and government will be happy using bitcoin. As for China,the president wants everyone to see him as god. That is why he is why he wants to have controversy over their financial life by banning bitcoin and other crptocurrency. I still believe that as time goes when bitcoin have started conquering almost in all countries and China has seen the value that bitcoin is adding to the lives of those countries,he will shameful remove the ban on crypto in China.

WatChe

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if you are talking about decentralized Bitcoin that resides in your personal (not CEX exchanges) wallets then there is no way government can ban it. The ban comes into play when you try to convert bitcoin to fiat or vice versa. In my country there is recently a crackdown on people who bought bitcoin from exchanges using credit cards. This rivalry of government towards decentralized Bitcoin will continue to get intense as government is not able to control bitcoin.

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Quote from: Crypt0Gore on April 18, 2023, 03:09:48 AM

Which country between these two would you rather see welcoming crypto and fully embracing Bitcoin? China? The United States?

I read an article that says that upon the ban of Cryptocurrencies in China over 30 million Chinese are using Crypto in the country.

At this point in Bitcoin and crypto life, Ban is no more an issue it seems, what do you think about this? It's like saying a country ban VPNs where as you can bypass any country's FireWall.

Banning crypto is no more effective on crypto itself, it's now more like a pure joke, I would still like to see the U.S embrace crypto more than China, just my own answer to my question, what about you?

Banning of cryptocurrency is what is nearly impossible to achieve by every country at the same time. That is the reason cryptocurrency and bitcoin will continue to flourish. Many countries are in battle of economic control of the rest of the countries. And these countries that are always in this secret battle tend to oppose one another in terms of decision-making relating to economic development.

This is exactly why if China Bans cryptocurrency, United States will try to embrace cryptocurrency and regulate it. And any day that United States thinks of banning cryptocurrency, you will see a competitive or rivalry country will embrace bitcoin. This is the reason bitcoin will continue to flourish amidst controversies.

BALIK

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Quote from: siniminomorocomunisakito on April 18, 2023, 04:41:55 AM

Quote from: Crypt0Gore on April 18, 2023, 03:09:48 AM

Which country between these two would you rather see welcoming crypto and fully embracing Bitcoin? China? The United States?

I read an article that says that upon the ban of Cryptocurrencies in China over 30 million Chinese are using Crypto in the country.

At this point in Bitcoin and crypto life, Ban is no more an issue it seems, what do you think about this? It's like saying a country ban VPNs where as you can bypass any country's FireWall.

Banning crypto is no more effective on crypto itself, it's now more like a pure joke, I would still like to see the U.S embrace crypto more than China, just my own answer to my question, what about you?

Oh, crypto ban? It's like trying to stop teenagers from using TikTok Grin

, I don't think banning it is an effective strategy. Several countries have recognized the potential of cryptocurrencies and have implemented regulations to ensure their proper use. From a global perspective, it would be great to see more countries embrace crypto and take advantage of its potential benefits to explore and embrace this innovative technology.

The government has realized that they cannot ban it, apart from China and some countries that still have extreme attitudes towards bitcoin, many countries have lifted the ban and regulated it instead.
I don't know if they realize the potential of cryptocurrency and are looking to adopt it. But I see most clearly that they are trying to collect taxes, and cryptocurrency adoption in countries is focused on enacting regulations and taxing investors.
Regulations and taxes are inevitable, but it's still better than having them ban us outright.

Cryptomiles1

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Quote from: Crypt0Gore on April 18, 2023, 03:09:48 AM

Which country between these two would you rather see welcoming crypto and fully embracing Bitcoin? China? The United States?

As for me i would prefer China welcoming crypto in full than the US, While because they are major importers and exporters which i think would bring a huge progress to bitcoin. There's no country that doesn't imports from China.

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I read an article that says that upon the ban of Cryptocurrencies in China over 30 million Chinese are using Crypto in the country.

It is very much possible for a country that is ban of using cryptocurrency to greatly surge in number of usage, just take my country Nigeria as for an example. We were restricted from trading cryptocurrencies to our various local bank account, few weeks after the announcement the population increased uncontrollably, So i think that is what happened to China.

siniminomorocomunisakito

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Quote from: Crypt0Gore on April 18, 2023, 03:09:48 AM

Which country between these two would you rather see welcoming crypto and fully embracing Bitcoin? China? The United States?

I read an article that says that upon the ban of Cryptocurrencies in China over 30 million Chinese are using Crypto in the country.

At this point in Bitcoin and crypto life, Ban is no more an issue it seems, what do you think about this? It's like saying a country ban VPNs where as you can bypass any country's FireWall.

Banning crypto is no more effective on crypto itself, it's now more like a pure joke, I would still like to see the U.S embrace crypto more than China, just my own answer to my question, what about you?

Oh, crypto ban? It's like trying to stop teenagers from using TikTok Grin

, I don't think banning it is an effective strategy. Several countries have recognized the potential of cryptocurrencies and have implemented regulations to ensure their proper use. From a global perspective, it would be great to see more countries embrace crypto and take advantage of its potential benefits to explore and embrace this innovative technology.

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