Topic: crypto banned? - page 3. (Read 851 times)
Things have changed today because all crypto banned have been lifted off especially on the country mentioned and more countries now are adopting and embracing crypto currencies as we speak. With all the legalization it is safe to say that crypto is here to stay.
Government bans cryptocurrencies for following reasons :-
1. They are afraid of the power it's giving people
2. People are using it for illegal activities and government is not able to control it
3. They want to bring their own cryptocurrencies
4. People are hiding behind it to save them from paying taxes
Etc...
Whatever they are doing , they are just making it more likely that people will use more underhanded methods to use it.
More reason behind that for sure and maybe those big companies are also controlling the government and influence the decision of the government to ban bitcoin and other cryptocurrency especially the BANKS. 1. They are afraid of the power it's giving people
2. People are using it for illegal activities and government is not able to control it
3. They want to bring their own cryptocurrencies
4. People are hiding behind it to save them from paying taxes
Etc...
Whatever they are doing , they are just making it more likely that people will use more underhanded methods to use it.
They can't stop this market anymore, many countries make this legal and they are good enough to influence the whole world in the future.
1. True, they do hate to lose power, don't they?
2. This is bs and just an excuse just like the stupid drug laws they use to imprison people.
3. Hmmmm.... not so sure about that, they might fear it too much but a government issues crypto may be one solution to paying tax.
4. Same as 2, yes another lame ass excuse to push laws on people. Criminals don't just move money around as currency they move cars,boats, drugs boats and cars full of drugs, counterfeit items hell anything they can invest in and lie to the government about. Fake companies that do not exist and things like that. It would be a bit more difficult to launder money or make fake companies if every transaction is recorded, eventually, the criminal will make a mistake. So they whole "crypto is good for criminals is bs" crypto is good for everyone this obvious includes bad people too. Bad people alwayas take advantage of new technology.
To that I want to add some governments piss away tax money and that is theft. You work your arse off to pay tax to the government and then the road outside your house has holes in it?? Utter bs.
it is sometimes funny how most people who didn't even know there is a country called India before this are now so concerned about what their government is going to decide to do with bitcoin and are constantly talking about it while the Indian people aren't so hyped up and scared about it. the worst part is that there has been no bans or anything like that but they are using it like they have been using Chinese news for years, as FUD.
It is nothing but FUD to muddy the waters. Crypto is fairly new to the government still. They are unsure about how it will work. It is not like there is that many using crypto. There are so few
people using crypto for it to be a threat to them yet but I guess they want to prepare.
people using crypto for it to be a threat to them yet but I guess they want to prepare.
There is too much manipulation going on in India with regard to crypto.. Whales pay media to post shit that ll obviously distress the day trader or even people who are holding bitcoin. A recent news was that a "draft" was produced which suggests a jail time for 10 years for whoever dealing or holding crypto. This was obviously one kind of manipulation I mentioned before. Few days later Reserve Bank of India (Central bank) said they had nothing to do with this "draft", this was known through RTI.
It is not a new news. Some country can afford to use it. Because of which they are declaring it illegal. But when the Leading Pogson countries will come forward. Now it will be very easy to work with us using it.
Government bans cryptocurrencies for following reasons :-
1. They are afraid of the power it's giving people
2. People are using it for illegal activities and government is not able to control it
3. They want to bring their own cryptocurrencies
4. People are hiding behind it to save them from paying taxes
Etc...
Whatever they are doing , they are just making it more likely that people will use more underhanded methods to use it.
More reason behind that for sure and maybe those big companies are also controlling the government and influence the decision of the government to ban bitcoin and other cryptocurrency especially the BANKS. 1. They are afraid of the power it's giving people
2. People are using it for illegal activities and government is not able to control it
3. They want to bring their own cryptocurrencies
4. People are hiding behind it to save them from paying taxes
Etc...
Whatever they are doing , they are just making it more likely that people will use more underhanded methods to use it.
They can't stop this market anymore, many countries make this legal and they are good enough to influence the whole world in the future.
It is said that what did not kill you can make you stronger. And I think this is quite true with the world of cryptocurrency specifically bitcoin. As a decentralized network, we should not expect any government to just follow what the industry wishes...no that is impossible and no industry has been given an easy pass especially one that involves money and to some extent investment. Bitcoin is meant to ruffle the feathers of people in the establishments and if we don't get the reactions from them maybe bitcoin is not effective at all. Everything is a test for bitcoin because in the first place this is an experimental currency but once it can really bloom we will see its full beauty...and we should be looking forward to that time.
Cryptocurrency is still strong even with these regulations and countries banning bitcoin. There is still a lot of countries where bitcoin is legal and not banned. That is enough to support the ecosystem of bitcoin.
In my opinion is not good that some countries ban bitcoin, but this is it, we go forward, but is good that other countries accept bitcoin and some of them will put tax on bitcoin, this will help mass adoption.
The use of cryptocurrencies are frowned upon in countries like China and some others but that is also not enough to stop the development of the crypto industry. Switzerland, Philippines are some of the countries that have welcome the use of cryptocurrencies in their countries. I believe other countries would come round as well and legalize the use of cryptocurrencies.
It started from the reason that Bitcoin was used for illegal transactions, yeah I am referring about that infamous online black market. The government has a firm belief that cryptocurrencies are just used for this sort and the people are just wrapping that 'fact' by showing the efficiency of cryptocurrencies compared to the present system. Government wants control over everything, they are too paranoid over the things that they can't see.
But here's the thing, even if the government wants to remove digital currency, it is the solution for the problem of the people. We want freedom, privacy, efficiency and control over our own funds.
Have you red the news about facebook starting their own cryptocurrency? I hope this will encourage other huge tech companies to create their own coin. In this way, the bad image of cryptocurrencies will slowly be removed from the head of many people. The government cannot simply kill this digital revolution.
Btw, nice write-up.
But here's the thing, even if the government wants to remove digital currency, it is the solution for the problem of the people. We want freedom, privacy, efficiency and control over our own funds.
Have you red the news about facebook starting their own cryptocurrency? I hope this will encourage other huge tech companies to create their own coin. In this way, the bad image of cryptocurrencies will slowly be removed from the head of many people. The government cannot simply kill this digital revolution.
Btw, nice write-up.
government and banks are still exist because most of the people do not withdraw their money and they are also afraid of thieves around them
No, governments force people to use there fiat to pay there taxes and stuff. Redrawing wont help since you still need to pay bills. 
China outright banned ICO offerings
China, among many other countries, have banned ICOs because even a blind person can see how scammy they are. and raising funds like this is illegal to begin with.Quote
and cryptocurrency trading,
wrong! they have never banned trading. you are misled by the social media FUDQuote
but India was slightly more subtle. The Indian government made an offer the banks couldn’t refuse — sure, you (banks) are free to do what you want. But if you let your customers swap between rupees and cryptocurrency the Indian Central Bank will cut you off. Not quite waking up with a prize stallion head in the bed,
a lot of banks all around the world have been doing the same exact thing! they close accounts of customers who dump fiat for bitcoin! it is not exclusive to India or even "eastern countries" as you put it.Quote
Full KYC (know your customer) requirements to open a cryptocurrency account.
Restrictions on how much fiat currency can be moved in and out of exchanges.
Huge increases in fees from credit and debit cards to fund cryptocurrency accounts.
New tax laws. ..........
Restrictions on how much fiat currency can be moved in and out of exchanges.
Huge increases in fees from credit and debit cards to fund cryptocurrency accounts.
New tax laws. ..........
almost all of these were already true and that is in fact among the main reasons why bitcoin as a decentralized currency that is created to cut the power of the corrupt banks and governmetns off, was created in first place.
It is laughable to be honest. How can you ban something that is not physical and exists only on a network created by the people for the people which connects to their private wallet which is outside everyone elses control but the holder. Will the government force people to unlock their wallets? They don't know if you have bitcoin.
They also have better things to do then run around arresting people or banning bitcoin. You will never prove that someone is a bitcoin holder.
Governments don't know how to even handle drugs and many other problems so how on earth will they deal with banning currency?
If criminals can launder money for all of history then crypto holders can surely bypass the ban as well?? The difference is it is their money not stolen funds. Having to resort to such heavy measures is ridiculous.
Good luck getting tax payers to go along having their money wasted chasing after digital currency that exists in cyberspace.
They also have better things to do then run around arresting people or banning bitcoin. You will never prove that someone is a bitcoin holder.
Governments don't know how to even handle drugs and many other problems so how on earth will they deal with banning currency?
If criminals can launder money for all of history then crypto holders can surely bypass the ban as well?? The difference is it is their money not stolen funds. Having to resort to such heavy measures is ridiculous.
Good luck getting tax payers to go along having their money wasted chasing after digital currency that exists in cyberspace.
For eastern countries, who don’t have things like democracy to worry about, it was easy. They banned it.
The West took a more subtle approach using the jab-cross-left-hook of fear, dis-accreditation, and tax. Fear of capital loss and distrust. Stories of stolen coins, bankrupt and corrupt exchanges. Linking cryptocurrency to crime, and what the government will do to anyone who actually makes a profit.
It worked.
Globally the response to the rise in the market capitalisation of cryptocurrencies was not homeopathic.
Governments didn’t bring out the heat lamp and cream to soothe the problem.
They brought the sword and started swinging.
On the demand side…
China outright banned ICO offerings and cryptocurrency trading, but India was slightly more subtle. The Indian government made an offer the banks couldn’t refuse — sure, you (banks) are free to do what you want. But if you let your customers swap between rupees and cryptocurrency the Indian Central Bank will cut you off. Not quite waking up with a prize stallion head in the bed, but Johnny Fontaine got his movie.
South Korea, a country whose citizens are understandably Bitcoin crazy, initially banned ICO’s but allowed the restricted buying and selling of cryptocurrency. The restrictions include prohibiting anonymous deposits and reporting anyone who moved more than 10 million won ($9,300) a day into the cryptocurrency market.
In the West, while not outright banning cryptocurrency trading, the campaign to stop cryptocurrency demand moved into full swing and included…
Full KYC (know your customer) requirements to open a cryptocurrency account.
Restrictions on how much fiat currency can be moved in and out of exchanges.
Huge increases in fees from credit and debit cards to fund cryptocurrency accounts.
New tax laws. The IRS now treats cryptocurrency as property. Any profit must be disclosed. Not just from moving fiat currency into cryptocurrency and then back again, but on every individual transaction.
Strong-arming cryptocurrency exchanges with new regulation caused massive delays in account opening, and all this combined with a negative media frenzy successfully killed the demand.
Big companies too joined the anti-cryptocurrency stance.
Facebook and Google outlawed cryptocurrency advertising. Perhaps they have been persuaded by the wisdom of the establishment, considering the lightness of touch over regulation and taxation. Why bite the hand?
The speed and aggressiveness in response to the rising value of cryptocurrencies is a significant tell on the future of this technology.
The establishment wants your seat at the table.
The West took a more subtle approach using the jab-cross-left-hook of fear, dis-accreditation, and tax. Fear of capital loss and distrust. Stories of stolen coins, bankrupt and corrupt exchanges. Linking cryptocurrency to crime, and what the government will do to anyone who actually makes a profit.
It worked.
Globally the response to the rise in the market capitalisation of cryptocurrencies was not homeopathic.
Governments didn’t bring out the heat lamp and cream to soothe the problem.
They brought the sword and started swinging.
On the demand side…
China outright banned ICO offerings and cryptocurrency trading, but India was slightly more subtle. The Indian government made an offer the banks couldn’t refuse — sure, you (banks) are free to do what you want. But if you let your customers swap between rupees and cryptocurrency the Indian Central Bank will cut you off. Not quite waking up with a prize stallion head in the bed, but Johnny Fontaine got his movie.
South Korea, a country whose citizens are understandably Bitcoin crazy, initially banned ICO’s but allowed the restricted buying and selling of cryptocurrency. The restrictions include prohibiting anonymous deposits and reporting anyone who moved more than 10 million won ($9,300) a day into the cryptocurrency market.
In the West, while not outright banning cryptocurrency trading, the campaign to stop cryptocurrency demand moved into full swing and included…
Full KYC (know your customer) requirements to open a cryptocurrency account.
Restrictions on how much fiat currency can be moved in and out of exchanges.
Huge increases in fees from credit and debit cards to fund cryptocurrency accounts.
New tax laws. The IRS now treats cryptocurrency as property. Any profit must be disclosed. Not just from moving fiat currency into cryptocurrency and then back again, but on every individual transaction.
Strong-arming cryptocurrency exchanges with new regulation caused massive delays in account opening, and all this combined with a negative media frenzy successfully killed the demand.
Big companies too joined the anti-cryptocurrency stance.
Facebook and Google outlawed cryptocurrency advertising. Perhaps they have been persuaded by the wisdom of the establishment, considering the lightness of touch over regulation and taxation. Why bite the hand?
The speed and aggressiveness in response to the rising value of cryptocurrencies is a significant tell on the future of this technology.
The establishment wants your seat at the table.
they banned it but they are having a hard time regulating it, its easy for them to say that something is banned but to realy stop it is a whole other ball game.
We can do nothing about it, government and banks are still exist because most of the people do not withdraw their money and they are also afraid of thieves around them. So baby lives that money can be safe inside banks but little they know that money is being used on other stuff like giving loan or giving someone else as his money. I do not care if government ban cryptocurrency there's just making another mistake and it was very expected from them.
Government bans cryptocurrencies for following reasons :-
1. They are afraid of the power it's giving people
2. People are using it for illegal activities and government is not able to control it
3. They want to bring their own cryptocurrencies
4. People are hiding behind it to save them from paying taxes
Etc...
Whatever they are doing , they are just making it more likely that people will use more underhanded methods to use it.
1. They are afraid of the power it's giving people
2. People are using it for illegal activities and government is not able to control it
3. They want to bring their own cryptocurrencies
4. People are hiding behind it to save them from paying taxes
Etc...
Whatever they are doing , they are just making it more likely that people will use more underhanded methods to use it.
Banning has been happening for years and the fact that Bitcoin is continuously developing only proves that banning it couldn't stop it. In fact, people are even wiser. They know how to deal and to get involved in cryptocurrency despite all the bannings and restrictions. Lucky are those countries who are accepting and adopting cryptocurrency because it will be a big help in their economic growth.
This increasingly heated competition between economic and crypto policies makes lay people feel more curiosity about how crypto works. Actually, I also haven't seen a significant impact because of crypto trade even since 2 years ago when Bitcoin and several other Altcoin reached ATH. This crypto affect nothing.
In my part of research, what I concluded is opressive governments are the ones that restricts the use of cryptocurrency.
Crypto is associated with freedom and several countries in this world are just a bunch of bugglers eating off from terrorising it's own people and keeping them in dark.
China doesn't want's its citizen to know what's the world about so that they never revolt against the regime.
India keeps it's people illiterate and poor just for the politician to buy votes for cheap. US is controlled by oil and arms elite who runs the largest scam country in the world.
Crypto is associated with freedom and several countries in this world are just a bunch of bugglers eating off from terrorising it's own people and keeping them in dark.
China doesn't want's its citizen to know what's the world about so that they never revolt against the regime.
India keeps it's people illiterate and poor just for the politician to buy votes for cheap. US is controlled by oil and arms elite who runs the largest scam country in the world.
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