Cautionary campaign about Bitcoin | Bitcointalksearch.org

OcTradism

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Quote from: Crypto Library on June 14, 2023, 05:05:21 AM

There is no end to speculation about cryptocurrency in Bangladesh, after in a few days, again and again, the government party ministers are saying that now it is time for us to think about Bitcoin or cryptocurrency. Along with this, there is a briefing from the Central Bank that any person can hold cryptocurrency and the next day we see a notice from the Central Bank. It is illegal to trade all types of cryptocurrencies. And this kind of drama is being repeated again and again for several years. I don't think Bitcoin or cryptocurrency at all will be legalized under the current government.

Small countries will change their policies to follow big nations. If acceptance, legal tender for Bitcoin and cryptocurrency are the trend and if big nations don't prohibit those currencies, small countries will have no choice to follow the global trend.

It is illegal to trade but legal to own cryptocurrencies but they are conflict with each other. As a cryptocurrency user, you must buy it somewhere to own cryptocurrency. By this, at beginning you break your national law. So you must aware about that and use non KYC exchanges when you start.

https://kycnot.me/

Crypto Library

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Quote from: Ndabagi01 on June 11, 2023, 06:49:16 PM

If your country has banned cryptocurrencies and you continue to acquire and keep more, you have gone against your country's government in your pursuit of financial freedom. This new policies appear to be very serious, and the government intends to take harsh measures against anyone who own cryptocurrency.

There is no end to speculation about cryptocurrency in Bangladesh, after in a few days, again and again, the government party ministers are saying that now it is time for us to think about Bitcoin or cryptocurrency. Along with this, there is a briefing from the Central Bank that any person can hold cryptocurrency and the next day we see a notice from the Central Bank. It is illegal to trade all types of cryptocurrencies. And this kind of drama is being repeated again and again for several years. I don't think Bitcoin or cryptocurrency at all will be legalized under the current government.

Quote

The best advice is to stay away from cryptocurrency for the time being in order to avoid confiscating all of your accounts that have previously transacted with cryptocurrency. It is advisable to stop now rather than lose all funds to the government later. Hopefully, your government will recognize bitcoin's significance and allow its use in the country in the near future.

I will not disagree with you on that advice but in our region many people's are already take theirs career in crypto currency world. So now there are many such people who have no way to back out of it. And this is how cryptocurrency is going in our country and those who are ignorant about security are going to jail. But if Satoshi's invention Bitcoin can be used properly, no government ban can stop it.

GreatArkansas

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Quote from: Fuso.hp on June 09, 2023, 12:26:59 PM

Already everything bitcoin related is banned in our country still we are using bitcoin but recently government of our country may be more strict about using bitcoin. NAGAD, the popular mobile banking service of our country, is currently conducting a cautionary campaign in various ways to transact through Bitcoin in our country.
(....)

I believe that this company is just complying with your government's regulations because if a country is cryptocurrency friendly, they will not do this to most of the companies from their country.

I also believe that your country is not experiencing this because we saw a lot of countries that got problems like this, banning Bitcoin in their country but it's really not clear what is really the ban.

Bitcoin_people

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Quote from: Ndabagi01 on June 11, 2023, 06:49:16 PM

Quote from: Fuso.hp on June 09, 2023, 12:26:59 PM

Already everything bitcoin related is banned in our country still we are using bitcoin but recently government of our country may be more strict about using bitcoin. NAGAD, the popular mobile banking service of our country, is currently conducting a cautionary campaign in various ways to transact through Bitcoin in our country. They are using social media and leaflets as part of the campaign. Since we are involved with Bitcoin, these things seem scary to us. I already have some investment in Bitcoin and I am thinking of investing some more but at this time news like this is making me weak mentally.
I don't know what we should do at this point.

If your country has banned cryptocurrencies and you continue to acquire and keep more, you have gone against your country's government in your pursuit of financial freedom. This new policies appear to be very serious, and the government intends to take harsh measures against anyone who own cryptocurrency.

The best advice is to stay away from cryptocurrency for the time being in order to avoid confiscating all of your accounts that have previously transacted with cryptocurrency. It is advisable to stop now rather than lose all funds to the government later. Hopefully, your government will recognize bitcoin's significance and allow its use in the country in the near future.

My country's government has completely banned bitcoin cryptocurrency and recognized it as a legal crime. If here find out about Bitcoin transactions, must take administrative action. Since Bitcoin is not legal in our country, we are definitely going against the government by using Bitcoin. But I can say this from experience as long as I have been involved with this cryptocurrency. If you are careful, you can certainly succeed in investing in Bitcoin. Because Bitcoin transactions in my country will definitely lose those funds if the government finds out. So I am totally cautious when I invest in Bitcoin. And I hope the government in my country approves Bitcoin cryptocurrency very soon.

Ndabagi01

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Quote from: Fuso.hp on June 09, 2023, 12:26:59 PM

Already everything bitcoin related is banned in our country still we are using bitcoin but recently government of our country may be more strict about using bitcoin. NAGAD, the popular mobile banking service of our country, is currently conducting a cautionary campaign in various ways to transact through Bitcoin in our country. They are using social media and leaflets as part of the campaign. Since we are involved with Bitcoin, these things seem scary to us. I already have some investment in Bitcoin and I am thinking of investing some more but at this time news like this is making me weak mentally.
I don't know what we should do at this point.

If your country has banned cryptocurrencies and you continue to acquire and keep more, you have gone against your country's government in your pursuit of financial freedom. This new policies appear to be very serious, and the government intends to take harsh measures against anyone who own cryptocurrency.

The best advice is to stay away from cryptocurrency for the time being in order to avoid confiscating all of your accounts that have previously transacted with cryptocurrency. It is advisable to stop now rather than lose all funds to the government later. Hopefully, your government will recognize bitcoin's significance and allow its use in the country in the near future.

KingsDen

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Quote from: Fuso.hp on June 09, 2023, 12:26:59 PM

Already everything bitcoin related is banned in our country still we are using bitcoin but recently government of our country may be more strict about using bitcoin. NAGAD, the popular mobile banking service of our country, is currently conducting a cautionary campaign in various ways to transact through Bitcoin in our country. They are using social media and leaflets as part of the campaign. Since we are involved with Bitcoin, these things seem scary to us. I already have some investment in Bitcoin and I am thinking of investing some more but at this time news like this is making me weak mentally.
I don't know what we should do at this point.

Get the issues straight, I don't know your country but I'm pretty sure the government laws against Bitcoin should be related to Bitcoin mining and spending Bitcoin in the country. This means that you should only buy bitcoin if you want to hold for a long time. Buy a hardware wallet, buy bitcoin and save for a long time. You don't need to talk about it and you will be fine.
Whenever you want to trade your bitcoin, you can use this forum and sell your bitcoin to fiat.
It will be nice to leave in such a country, because it will help you to remain cool with bitcoin without public knowledge.

Yatsan

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Quote from: loopes on June 11, 2023, 04:53:05 PM

Quote from: Fuso.hp on June 09, 2023, 12:26:59 PM

Already everything bitcoin related is banned in our country still we are using bitcoin but recently government of our country may be more strict about using bitcoin. NAGAD, the popular mobile banking service of our country, is currently conducting a cautionary campaign in various ways to transact through Bitcoin in our country. They are using social media and leaflets as part of the campaign. Since we are involved with Bitcoin, these things seem scary to us. I already have some investment in Bitcoin and I am thinking of investing some more but at this time news like this is making me weak mentally.
I don't know what we should do at this point.

In my point of view, you can still invest in bitcoin as long as you invest bitcoin in foreign platform. Buy and store your bitcoin on a platform which is not tracked by your finance regulator of your country. Then when you want to sell your bitcoin, you can sell it on b*nance (as one of the largest trading platform) or any trading platform which supports a withdrawal into USD or into your FIAT directly.

As long as there's no clear sanctions to those who will be proven to use or invest into this technology, I think there's nothing to worry about. It is a campaign which probably just warns the public due to the risk involved. Those who would be easily convinced not to do so are basically ones who knows nothing mucb about this industry. Not unless there will be a direct prohibition 'coz you might have trouble accessing and transacting with your funds which would really impose risk in your asset. But if you are really worried, then try making a pause, you won't be wrong for that, and wait for things to be more clear regarding this movement of them.

Fivestar4everMVP

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Quote from: Fuso.hp on June 09, 2023, 12:26:59 PM

Already everything bitcoin related is banned in our country still we are using bitcoin but recently government of our country may be more strict about using bitcoin. NAGAD, the popular mobile banking service of our country, is currently conducting a cautionary campaign in various ways to transact through Bitcoin in our country. They are using social media and leaflets as part of the campaign. Since we are involved with Bitcoin, these things seem scary to us. I already have some investment in Bitcoin and I am thinking of investing some more but at this time news like this is making me weak mentally.
I don't know what we should do at this point.

If you have plans for investing more in bitcoin, I would advice you just do it, bitcoin is a secure and highly decentralized currency which runs on a decentralized blockchain as well, the government of any country can ban bitcoin for what ever reason, but can never be able to stop bitcoin from existing, any country banning bitcoin at the moment is just wasting their time and do not even know it, some countries have managed to fully legalize bitcoin, and this is the same thing I think every country are gonna end up doing in the long run, bitcoin, as well as cryptocurrencies are here to stay, the sooner countries realize, the much better.

TimeTeller

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Quote from: loopes on June 11, 2023, 04:53:05 PM

Quote from: Fuso.hp on June 09, 2023, 12:26:59 PM

Already everything bitcoin related is banned in our country still we are using bitcoin but recently government of our country may be more strict about using bitcoin. NAGAD, the popular mobile banking service of our country, is currently conducting a cautionary campaign in various ways to transact through Bitcoin in our country. They are using social media and leaflets as part of the campaign. Since we are involved with Bitcoin, these things seem scary to us. I already have some investment in Bitcoin and I am thinking of investing some more but at this time news like this is making me weak mentally.
I don't know what we should do at this point.

In my point of view, you can still invest in bitcoin as long as you invest bitcoin in foreign platform. Buy and store your bitcoin on a platform which is not tracked by your finance regulator of your country. Then when you want to sell your bitcoin, you can sell it on b*nance (as one of the largest trading platform) or any trading platform which supports a withdrawal into USD or into your FIAT directly.

He can always store his bitcoin for the moment in noncustodial wallets.
I am positive that sooner or later, his government will change their stance towards the bitcoin market.
Upon searching the Nagad website, I assume the OP is from Bangladesh.
However, as you said, they can use binance to convert their crypto to their fiat, Bangladeshi (BDT).
But with more and more countries accepting crypto, I believe this country will loosen their approach towards crypto.
There are also a lot of Bangladeshis here in the forum, it means, they have their means of using crypto or converting crypto to their fiat.

loopes

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Quote from: Fuso.hp on June 09, 2023, 12:26:59 PM

Already everything bitcoin related is banned in our country still we are using bitcoin but recently government of our country may be more strict about using bitcoin. NAGAD, the popular mobile banking service of our country, is currently conducting a cautionary campaign in various ways to transact through Bitcoin in our country. They are using social media and leaflets as part of the campaign. Since we are involved with Bitcoin, these things seem scary to us. I already have some investment in Bitcoin and I am thinking of investing some more but at this time news like this is making me weak mentally.
I don't know what we should do at this point.

In my point of view, you can still invest in bitcoin as long as you invest bitcoin in foreign platform. Buy and store your bitcoin on a platform which is not tracked by your finance regulator of your country. Then when you want to sell your bitcoin, you can sell it on b*nance (as one of the largest trading platform) or any trading platform which supports a withdrawal into USD or into your FIAT directly.

teosanru

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Quote from: Fuso.hp on June 09, 2023, 12:26:59 PM

Already everything bitcoin related is banned in our country still we are using bitcoin but recently government of our country may be more strict about using bitcoin. NAGAD, the popular mobile banking service of our country, is currently conducting a cautionary campaign in various ways to transact through Bitcoin in our country. They are using social media and leaflets as part of the campaign. Since we are involved with Bitcoin, these things seem scary to us. I already have some investment in Bitcoin and I am thinking of investing some more but at this time news like this is making me weak mentally.
I don't know what we should do at this point.

Bangladesh has strict ban on virtual currencies. They don't have a separate law on this but these things are covered under the Money laundering act itself so anyone involved in transacting in cryptos can be very well charged under money Laundering laws and sent to Jail. I feel to some extent it's scary to keep bitcoin while your government has clearly banned it. I would atleast try to keep it in places where they can't be attached to my identity.

Odusko

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Quote from: Porfirii on June 10, 2023, 04:02:15 AM

Quote from: Fuso.hp on June 09, 2023, 12:26:59 PM

Already everything bitcoin related is banned in our country still we are using bitcoin but recently government of our country may be more strict about using bitcoin. NAGAD, the popular mobile banking service of our country, is currently conducting a cautionary campaign in various ways to transact through Bitcoin in our country. They are using social media and leaflets as part of the campaign. Since we are involved with Bitcoin, these things seem scary to us. I already have some investment in Bitcoin and I am thinking of investing some more but at this time news like this is making me weak mentally.
I don't know what we should do at this point.

First of all, don't let your neurosis get over you. I don't know the sanctions you could face in your country for holding Bitcoin, so I don't fully understand the seriousness of the matter, but getting caught is more difficult than it looks so try to be tidy, learn coin control, and when the time comes and your country lifts the ban maybe you can sell and live a dear life.

I don't see reason why any one should continue to use something that is ban, Bitcoin bitcoin is exception since no. One can trace your bitcoin is it held in a non custodial wallet where only you have access and can operate the wallet, unlike the other ways where your bitcoin are held on an exchange this is something that is risky and can lead to possible sanctioning from the authority since the exchange are centralized and for you to operate an account with them you need to go through verification which mandates you to provides IDs and other personal data for verifications.

So it is left for the individual to choose from where. He's holding the coins to keep them out of government readers.

Nrcewker

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Quote from: Fuso.hp on June 09, 2023, 12:26:59 PM

Already everything bitcoin related is banned in our country still we are using bitcoin but recently government of our country may be more strict about using bitcoin. NAGAD, the popular mobile banking service of our country, is currently conducting a cautionary campaign in various ways to transact through Bitcoin in our country. They are using social media and leaflets as part of the campaign. Since we are involved with Bitcoin, these things seem scary to us. I already have some investment in Bitcoin and I am thinking of investing some more but at this time news like this is making me weak mentally.
I don't know what we should do at this point.

Not only in your country, in many other country also, Bitcoins are banned, but still they are using Bitcoin due to it's various advantages above banking systems. They are able to use it without any hassle, because Bitcoins are decentralized in nature, that is no other person, excluding the owner itself can know how many Bitcoins the owner is holding. If you don't say anyone about your investments, then you are safe from your government. Moreover if exchanges are also banned, then do P2P deals in order to buy or sell the coins.

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Quote from: Fuso.hp on June 09, 2023, 12:26:59 PM

Already everything bitcoin related is banned in our country still we are using bitcoin but recently government of our country may be more strict about using bitcoin. NAGAD, the popular mobile banking service of our country, is currently conducting a cautionary campaign in various ways to transact through Bitcoin in our country. They are using social media and leaflets as part of the campaign. Since we are involved with Bitcoin, these things seem scary to us. I already have some investment in Bitcoin and I am thinking of investing some more but at this time news like this is making me weak mentally.
I don't know what we should do at this point.

So sorry to hear that your country is turning into anti-bitcoin. So I guess you being a bitcoiner might take a lot of risk of buying it. Why not get a wallet though that you have total control? maybe a hardware wallet will do or even Electrum to some extend.

But then again, it's the question on how strict your government is, I don't know what the punishment will be if they every caught you with bitcoin. But if you are willing and knows how to hide your track then the risk might be worth, IMHO. Best of luck to you.

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Quote from: Fuso.hp on June 09, 2023, 12:26:59 PM

Already everything bitcoin related is banned in our country still we are using bitcoin but recently government of our country may be more strict about using bitcoin. NAGAD, the popular mobile banking service of our country, is currently conducting a cautionary campaign in various ways to transact through Bitcoin in our country. They are using social media and leaflets as part of the campaign. Since we are involved with Bitcoin, these things seem scary to us. I already have some investment in Bitcoin and I am thinking of investing some more but at this time news like this is making me weak mentally.
I don't know what we should do at this point.

First of all, don't let your neurosis get over you. I don't know the sanctions you could face in your country for holding Bitcoin, so I don't fully understand the seriousness of the matter, but getting caught is more difficult than it looks so try to be tidy, learn coin control, and when the time comes and your country lifts the ban maybe you can sell and live a dear life.

libert19

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In India too, RBI banned banks from giving services to people involved in cryptocurrency, so people went to p2p exchanges, it did increase the scams but what choice did they have?

Unless your main source of income is cryptocurrency, refrain from converting funds into fiat and hold your funds in non-custodial & secure wallets (non-custodial doesn't always mean secure, look in case of atomic wallet).

avp2306

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Quote from: Fuso.hp on June 09, 2023, 12:26:59 PM

Already everything bitcoin related is banned in our country still we are using bitcoin but recently government of our country may be more strict about using bitcoin. NAGAD, the popular mobile banking service of our country, is currently conducting a cautionary campaign in various ways to transact through Bitcoin in our country. They are using social media and leaflets as part of the campaign. Since we are involved with Bitcoin, these things seem scary to us. I already have some investment in Bitcoin and I am thinking of investing some more but at this time news like this is making me weak mentally.
I don't know what we should do at this point.

To save you up from any trouble better to follow what government order to you or to their citizens since its not really worth it to continue using it while there are so many obstacle that preventing you to use it. For now its better to quit since being penalize by law and got a bad record is so really bad.

Just came back when bitcoin is legal to use in your country but for now take a rest for using it and find another investment alternative.

Marvell1

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Quote from: usekevin on June 09, 2023, 02:43:48 PM

Bitcoin is the digital currency and had a capacity to replace the bank system.So many countries government was fear about the crypto currency and bitcoin.

I don't mean to go to war, but how will bitcoin replace the banking system? Bitcoin is just a speculative asset, an alternative currency, while a bank is an institution that provides us with many different services. Maybe many people will choose bitcoin as a store of wealth rather than a bank, but besides that, bitcoin does not provide insurance, mortgage loans, loans ... so saying it replaces banks is entirely incorrect. Some governments still ban bitcoin for various reasons, not entirely because they fear it will replace banking. If bitcoin can replace banking or is a real threat, other countries will not legalize bitcoin.

OcTradism

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Quote from: Fuso.hp on June 09, 2023, 12:26:59 PM

Already everything bitcoin related is banned in our country still we are using bitcoin but recently government of our country may be more strict about using bitcoin.

You can use decentralized exchanges, peer to peer like Bisq, RoboSats.

More exchanges without KYC.
https://kycnot.me/

Your fear and demand are for cash so you can bookmark this page https://kycnot.me/?cash=on

fredericktaylor

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In passing years, Bitcoin has gained popularity as a digital currency and a investment platform. The caveats are that everyone needs to acquire enough knowledge about investing in Bitcoin. It is popular for its high volatility. It can go up and down a lot in a short period of time so investing here can lead to loss or profit. The state does not legally allow Bitcoin banking. Investors may face a variety of manipulation, fraud or other risks.Individuals who are involved in Bitcoin investment should acquire sufficient knowledge about all the risks of Bitcoin. Think before investing in cryptocurrency and be aware of all its risks before investing.

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