Topic: Do you fear the president of your country, one day, making Crypto illegal ? - page 13. (Read 4114 times)
August 04, 2020, 06:09:15 AM
Where I'm from we've been warned not to invest in any crypto, my government thought it was a scam or Ponzi scheme until later when they came to realise that crypto is a helpful technology capable to change the life of many, now my government is now spreading news about crypto and blockchain, advising youths to get into the tech
August 04, 2020, 06:05:12 AM
Anything could happen, the bad or the good, we just have to be ready with that.
As of the current state, our president is pro crypto and it's already regulated in our country, so I doubt soon it will be ban as they surely understand bitcoin could help the economy to grow, in fact bitcoin is useful for small countries as it gives us an opportunity to transact online easily and faster compared to the traditional system which is the banking and the remittance centers.
As the world is adopting in cryptocurrency, I doubt a just president would not embrace that opportunity as when more people are using bitcoin, it will also help to increase the tax collection, so as long as there is a proper regulation those risk will be minimize.
As of the current state, our president is pro crypto and it's already regulated in our country, so I doubt soon it will be ban as they surely understand bitcoin could help the economy to grow, in fact bitcoin is useful for small countries as it gives us an opportunity to transact online easily and faster compared to the traditional system which is the banking and the remittance centers.
As the world is adopting in cryptocurrency, I doubt a just president would not embrace that opportunity as when more people are using bitcoin, it will also help to increase the tax collection, so as long as there is a proper regulation those risk will be minimize.
August 04, 2020, 05:55:16 AM
It can happen to any country depending on the president's view regarding cryptocurrency.
However they should not ban or set crypto as illegal since its only a digital currencies and actually giving users a convenience in which fiat cant do.
Instead of banning crypto, they should be after scammers because some of them are using crypto as tool to scam other people for their own sake.
However they should not ban or set crypto as illegal since its only a digital currencies and actually giving users a convenience in which fiat cant do.
Instead of banning crypto, they should be after scammers because some of them are using crypto as tool to scam other people for their own sake.
August 04, 2020, 05:47:55 AM
What if, for example - like after that twitter hack - the President wakes up (in a bad mood) and decides with an executive order to make all crypto illegal in the USA?
Of course this probably will never happen in today's world, as the there is big money is invested into crypto currencies; but do you ever think that it is even remotely possible...
Or the next elected president is so "old school" and decides that crypto needs to go?
I don't mean only America, what about in your country; do think that a future ban on crypto currencies is ever possible in your country?
August 04, 2020, 05:46:58 AM
I think the possibility is always there, and I am afraid that this will happen in my country especially our President is very aggressive on things he suspects illegal and those not covered by the government. But I hope before they do that they should think many times and look at the good things crypto can do for us specially for the future.
August 04, 2020, 05:46:25 AM
Crypto would have seized to exist today if government can kill it, they tried though but in the end they have no choice but to embrace the technology, crypto and blockchain isn't a joke, bans on crypto won't ever stop crypto, right now crypto is 100 times more stronger
August 04, 2020, 05:44:30 AM
All Crypto holders fear this scenario this means he cannot trade hodl and might go to jail if their president ban Crypto in their country so it's better those Crypto community that resides in your country, should unite and support president that will not ban Crypto for the sake of this technology in your country.
August 04, 2020, 05:37:43 AM
What if, for example - like after that twitter hack - the President wakes up (in a bad mood) and decides with an executive order to make all crypto illegal in the USA?
Of course this probably will never happen in today's world, as the there is big money is invested into crypto currencies; but do you ever think that it is even remotely possible...
Or the next elected president is so "old school" and decides that crypto needs to go?
I don't mean only America, what about in your country; do think that a future ban on crypto currencies is ever possible in your country?
I dont think this will ever happen where im from. Theres little to no knowledge about crypto even with our normal citizens, the possibility that the president will even consider this is minimal.
August 04, 2020, 05:00:20 AM
banning on other countrys did happen already so why not on yours or on ours ?
but we dont want that to happen . users not only on this forum have thier own investment and business on cryptos . banning on cryptos will make those all obsolete and we are going to have a hard time earning a profit because the effects of covid are also still there . currently we have a good president here on our country and he fully support cryptos .
but we dont want that to happen . users not only on this forum have thier own investment and business on cryptos . banning on cryptos will make those all obsolete and we are going to have a hard time earning a profit because the effects of covid are also still there . currently we have a good president here on our country and he fully support cryptos .
August 04, 2020, 04:46:19 AM
There is always that possibility of course. We know that the Cryptocurrency Industry is not based in any country and it runs free internationally. The use of the forum is one of the best way to gain knowledge about Cryptocurrencies and you can actually monetize time here in the forum. If ever government officials learned that, they will at least have a hard time pinpointing on where to get restrictions using Cryptocurrency BUT they can create some ways that you will be unable to turn your Crypto into cash and that would really be scary.
August 04, 2020, 04:38:08 AM
Even if crypto got banned in my country I will still use it, banning won't stop me from using and it's even impossible because crypto is decentralized, something like each man for himself, I'm ready to take risk with my own hard earned money, why would my government restrict me from using it?
August 04, 2020, 04:34:42 AM
It's not that government has not tried to make crypto illegal, they did and they failed.
The same happened in my country. The government first ignored it, after some complaints, they cracked down on bank integrated exchanges. They even seized mining equipments and called mining and trading of crypto illegal. But that didn't stopped people from P2P trading and mining. And with cheap electricity here, mining farms are again booming this time with the protection of state.
The same happened in my country. The government first ignored it, after some complaints, they cracked down on bank integrated exchanges. They even seized mining equipments and called mining and trading of crypto illegal. But that didn't stopped people from P2P trading and mining. And with cheap electricity here, mining farms are again booming this time with the protection of state.
August 04, 2020, 04:16:22 AM
Yep, I'm afraid that one day the cryptocurrency will be ban in my country. As a crypto enthusiast it is a bad news for us, we lost opportunity to make extra money in crypto space. I hope that the our government making legal using crypto.
So there is a chance that your country might ban Cryptocurrency? government and administration come and go but Cryptocurrency will stay for good so keep on supporting and holding your coins and and if times come there is a new government that supports Cryptocurrency you can continue trading but be sure to strengthen the Crypto community in your country so you will have voice when there is election.
August 04, 2020, 04:07:16 AM
Our country is crypto-friendly and our government only warns people to be careful of investment scams that are using cryptocurrency to scam people and also the risk of getting involved in crypto. Even our security and exchange warn people if there are investment scams that they should be aware of. Some countries are starting to take notice of crypto and now starting to regulate and create law for crypto.
August 04, 2020, 04:04:14 AM
I think it's a general fear that a lot of people have, but for the most part it is undeserved. The vast majority of countries are democratic and value individual freedoms over the whims of the government.
In order to sign a democratic order banning something, Trump would need to be confident that he is actually able to enforce the ban. However, since the United States does not have totalitarian control over the internet, they're definitely not going to able to ban Bitcoin. In a country like China or Iran, where internet access is heavily restricted, this might be more feasible—but even then, the likes of VPNs and proxies can help those under a firewall use Bitcoin.
There's also the blockstream satellite to consider. Unless a country is willing to shoot these out of the sky (practically impossible given their size), people will always be able to communicate with blockstream using a standard satellite dish. This means they'll be able to execute Bitcoin transactions and sync to the Bitcoin blockchain with just ~$50 worth of equipment.
With the development of Elon Musk's Star Link it's only likely to become harder to enforce this ban, since there will essentially be thousands of internet broadcasting Bitcoin nodes in low earth orbit!
In order to sign a democratic order banning something, Trump would need to be confident that he is actually able to enforce the ban. However, since the United States does not have totalitarian control over the internet, they're definitely not going to able to ban Bitcoin. In a country like China or Iran, where internet access is heavily restricted, this might be more feasible—but even then, the likes of VPNs and proxies can help those under a firewall use Bitcoin.
There's also the blockstream satellite to consider. Unless a country is willing to shoot these out of the sky (practically impossible given their size), people will always be able to communicate with blockstream using a standard satellite dish. This means they'll be able to execute Bitcoin transactions and sync to the Bitcoin blockchain with just ~$50 worth of equipment.
With the development of Elon Musk's Star Link it's only likely to become harder to enforce this ban, since there will essentially be thousands of internet broadcasting Bitcoin nodes in low earth orbit!
August 04, 2020, 03:56:51 AM
What if, for example - like after that twitter hack - the President wakes up (in a bad mood) and decides with an executive order to make all crypto illegal in the USA?
Of course this probably will never happen in today's world, as the there is big money is invested into crypto currencies; but do you ever think that it is even remotely possible...
Or the next elected president is so "old school" and decides that crypto needs to go?
I don't mean only America, what about in your country; do think that a future ban on crypto currencies is ever possible in your country?
August 04, 2020, 03:47:15 AM
It is possible for a president to be bad like what you have described because it's his/her account that has been hack. But it just can't be passed quickly out of his words. There's a process even if it's an executive order.
But if that happens in my country, I don't even think that it's going to happen. As it's a new technology and most are new to it, they should go after the scams and not cryptocurrencies.
But if that happens in my country, I don't even think that it's going to happen. As it's a new technology and most are new to it, they should go after the scams and not cryptocurrencies.
Good thing that America's current president is not a big fan of the banks (as he probably believes that have treated him "unfairly" thoughtout the years), but he is a big fan of using Executive Orders...
On a side note:
Looks like Tik Tok just got 45 more days...
Trump is a known businessman so he knows what's essential and beneficial related to finance. But do you know that there are too many crypto casinos and exchanges that have a separated rule for their US resident users.
August 03, 2020, 10:17:02 PM
Too paranoid, it can't suddenly be a president or a state leader banning crypto, a study by competent institutions must first be done. Currently many countries have accepted Crypto, although not as a currency, but the recognition of a commodity. So seeing the enthusiasm and development now I don't think there will be a ban on crypto, but maybe a special regulation might be made
August 03, 2020, 10:09:33 PM
It's already ban in my country. So I am expecting one morning PM to wake with good mode and announce crypto is legal 
I do not think any country where crypto is legal now, would consider ban crypto. The adoption is increasing now.
I do not think any country where crypto is legal now, would consider ban crypto. The adoption is increasing now.Going from legal to banning of crypto is very slim, as they already experience the benefits brought by crypto. It may not have big impact on the economy, but it is giving income to some small crypto users, which is helping the economy of the country. Also, with this pandemic and looking for options not to use fiat money, crypto is one good alternative to be digital. So I don't think that a country will go from legal to banning the usage of crypto.
August 03, 2020, 09:51:40 PM
If our president will do that that would be a very bad decision seeing that adoption in Cryptocurrency in our country is very much in progress his finanacial advisers will not advice that because the government is making revenues from Cryptocurrency it's like saying we do already have enough money and don't want additional source of funding when in fact the government needs all the money it can get.
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