Do you fear the president of your country, one day, making Crypto illegal ?

clickerz

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Quote from: atamism on November 22, 2020, 12:51:04 AM

Nope, I see nothing wrong and cryptocurrency here in our country is not that popular for me. Only few know about cryptocurrency. Or they know about crypto but they are just scared about whats in the system? I think wayback 2017 or 2018, bitcoin featured in the new but they say it was scam, they said bitcoin is just like pyramiding and that was wrong. That’s is why people afraid doing crypto.

Same, a president only implements the law, and it's the legislative that makes the law that cam ka e crypto illegal. I think it's not good for any country, it's counterproductive to make crypto illegal, but instead, find a way to harness it in favor of their country. They can regulate maybe, for purpose of protecting its citizen from fraud and accountability.

Winscosinally

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A president of a country that do such have no idea what blockchain can do for his or her country, if countries like China and Russia have a place in heart for blockchain development why would other countries say no to crypto and blockchain? Thanks to crypto many african countries are getting better, some countries lacks good economy and crypto is playing a huge part saving many who are ready to learn.

mamesso

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A president wouldn't do a stupid thing like the OP said, it was like committing an own goal. Just look at how many people are using cryptocurrency in a country, they would be very disappointed by a president's ridiculous decision. Automatically the president will lose his supporters at the next election. So far, We've never heard cryptocurrency has made a country lose. So, The President can only prohibit transactions using cryptocurrency in a country, but cannot prohibit people from storing cryptocurrency in their wallets.

1l1l11ll1l

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Quote from: Greatchu on November 22, 2020, 07:19:19 AM

Right now I'm sure that every countries in the world are fully aware of what crypto did in the pandemic period this year, it's the reason why adoption rate is climbing up so fast today, crypto have proved to be stronger than other assets in the world today, blockchain is needed in most countries today to get rid of hardship and poverty, I don't see how a president will do such stupid thing

Maybe not stupid, but it's like a negative view that has been almost a long time ago. Most people still doubt crypto because they see many scam projects that tarnish the credibility of crypto. and with this pandemic, crypto has little to prove that crypto is capable of being one of the most useful and credible technologies.

Greatchu

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Right now I'm sure that every countries in the world are fully aware of what crypto did in the pandemic period this year, it's the reason why adoption rate is climbing up so fast today, crypto have proved to be stronger than other assets in the world today, blockchain is needed in most countries today to get rid of hardship and poverty, I don't see how a president will do such stupid thing

Ziskinberg

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Quote from: yurez on November 22, 2020, 12:45:39 AM

An adequate state and president will never make cryptocurrency illegal.

Not totally accurate IMO, China is a progressive country and yet they does not support crypto as bitcoin exchanges are illegal in their country.
They have their own stance too, but that does not mean the country does not have a good president.

Quote from: yurez on November 22, 2020, 12:45:39 AM

I think, on the contrary, the modern state will find advantages for itself in the use of cryptocurrency by people, because you can collect taxes on the profits of cryptocurrency and replenish the country's budget.

I do believe that restrictions and the like is not forever, a country's stance headed by the president could also change in the future, some with changes for positive to negative and even vice versa, nothing is permanent in short.

atamism

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Nope, I see nothing wrong and cryptocurrency here in our country is not that popular for me. Only few know about cryptocurrency. Or they know about crypto but they are just scared about whats in the system? I think wayback 2017 or 2018, bitcoin featured in the new but they say it was scam, they said bitcoin is just like pyramiding and that was wrong. That’s is why people afraid doing crypto.

yurez

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An adequate state and president will never make cryptocurrency illegal. I think, on the contrary, the modern state will find advantages for itself in the use of cryptocurrency by people, because you can collect taxes on the profits of cryptocurrency and replenish the country's budget.

Shasha80

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To be honest, there is always a fear that the president in my country will ban cryptocurrency, but even if it does happen I don't
really have a problem with it. Because there are still many ways to cashout my crytpto into fiat, I hope that doesn't happen.
I think the president in my country is unlikely to get banned on cryptocurrency, because I know the president in my country is
always open to new technology.

Salauddin1994

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If governments around the world make crypto illegal it will have a negative impact on both crypto and traders but there is nothing to be afraid of the government cannot control crypto and cannot ban it there is a long way to go. The reason for the fear of the President in the Philippines is that most of the people there are poor and do not have much idea about their crypto so if the use of crypto is illegal the President is afraid but it does not apply to all countries. Many countries in the world have supported and crypto is very helpful in improving the economy of the country.

MWesterweele

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Quote from: KimmyF on November 21, 2020, 06:45:58 PM

Quote from: Debonaire217 on November 20, 2020, 06:56:43 AM

Here in the Philippines where our current president here do not have care for the poor, running the government with greedy and stupidity. I guess cryptocurrency will never be accepted here if he will continue to reign. But if he will be impeached or he will finish his term I hopefully wish that the next president of the Philippines is open enough to the changes that is happening around the world. Not only for crypto tho.

So many countries have already banned cryptocurrency then accepted. Cryptocurrency features are very interesting even though some countries can't notice its value. People won't follow government policies which support privacy. Every government wants an illegal cryptocurrency but we don't care about it because banned countries' users are more than other countries.

It would take more some time that the world may see the big impact of bitcoin in the world of economic growth. Here in our country still bo indication of prohibitions or even allowing cryptocurrency. I just read some news that some of the government member of our country were open minded about bitcoin or crypto but in president alone not yet. Though it fears me if ever they prohibited crypto because it really affects me as a traders and user of cryptocurrency.

KimmyF

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Quote from: Debonaire217 on November 20, 2020, 06:56:43 AM

Here in the Philippines where our current president here do not have care for the poor, running the government with greedy and stupidity. I guess cryptocurrency will never be accepted here if he will continue to reign. But if he will be impeached or he will finish his term I hopefully wish that the next president of the Philippines is open enough to the changes that is happening around the world. Not only for crypto tho.

So many countries have already banned cryptocurrency then accepted. Cryptocurrency features are very interesting even though some countries can't notice its value. People won't follow government policies which support privacy. Every government wants an illegal cryptocurrency but we don't care about it because banned countries' users are more than other countries.

kayvie

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No, to date, the president in our country doesn't even take any steps when it comes to cryptocurrency. It stays neutral and do not care about it for now. That's why I am not afraid if they will make it illegal since before they even decide whethere they will make it as illegal or legal, it will surely take a lot of time and discussion before they can decide to that.

Slingshot

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The president of my country is not even allowing Crypto talk more of legalising or not legalising it. Despite the fact it's not legalised here youth still finds it useful and many are already fully into it as we speak. 60% of youths in my country are currently into Crypto and more are joining daily bases. Lol.

globalcitizen

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There wouldn't be anything so new with any country's leader or dictator placing such a ban on crypto activities. Even now there are some countries that have declared bitcoin and crypto activities illegal while some remain neutral on its stand. But does it stop people from getting involved in crypto activities? No.

One thing that is working for the industry is the fact that you can still conduct crypto transactions without going to the bank nor even using the bank. Peer-to-peer transactions have been hugely a success in this domain and I expect that to continue.

Politicians can do what they want but we the people will always find a way to pursue our individual and group aspirations and economic activities. Technology has got the power to beat governments and politicians.

Gozie51

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Quote from: copoyes on November 21, 2020, 12:35:11 PM

Not too afraid because in the country where I live, crypto has been legalized, legalized for investment, not for a medium of exchange to replace the original currency. So for durability, it seems unlikely that the rules will change from legal to illegal. Many will disagree later

You are lucky invyour country if your constitution and government have given legal permit to have cryptocurrency investment. This is nice. Your economy will be gracefully increase with time because terrorism will grow as people know they can freely exchange their coin if they are in tour country. Also some exchanges will open up in your country because your country is friendly to cryptocurrency business.

ChrisPop

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I haven't seen signs of even criticism in my country about Bitcoin and cryptocurrrencies, but anything can happen with today's politicians.

Hopefully the United States and the European Union won't declare any ban as that will have a lot of countries probably follow suit. Though, as the OP said, there are bigger interests now in the game so it is unlikely for that to happen.

I believe in our ability as humans to evolve to a better society and not reject the things that will make our lives more efficient and prosperous.

DU18

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Of course if this happens there will be many impacts felt by the people who do have assets in crypto, the loss will of course be the biggest impact if the president ilegalizes crypto currency, but a president cannot immediately take and implement regulations that really concern people many in private, of course, there are related institutions (ministers of economy, finance and banking) that must be consulted by the constitution, even though the president has veto power but cannot fully make controversial decisions without the approval of the council.
so I thought it would be impossible

sapnu

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Quote from: Kocret02 on November 21, 2020, 11:28:51 AM

until now the president of my country has not made this policy. it's just that it prohibits direct transactions using crypto. but if trading crypto with state money is not a problem and it is not prohibited

Same with our country, I think it doesn't concern him a lot because cryptocurrency also makes a lot of benefits to us not just by gaining income but also it makes every transaction safe and fast. We all know that there are still countries that don't recognize the goodness of cryptocurrency but still we are hoping that they can adopt and use it also. Not only for investment but for payment method it is really helpful to everyone making it less hassle and you can send your money in just a little bit of time.

asus09

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Very fear when president make bitcoin as illegal investment transaction in my country, I know what happen next if bitcoin become illegal as currency or investment assets because we can't access to exchange account because have block by government. No matter if bitcoin not become as legal payment currency transaction but never make bitcoin illegal as investment assets trading, I think its not easy to make bitcoin as payment currency with higher fees transaction but never make bitcoin become illegal with investing. We can see with many countries have banned for using bitcoin they can't participated at many ICO and IEO project.

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