Do you fear the president of your country, one day, making Crypto illegal ? - page 14.

Pamadar

legendary

Activity: 2982

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Quote from: btcholder on August 03, 2020, 04:41:18 PM

I would not like to think that way of course. Cheesy

But it's possible though. Cheesy

It's sad to see that bad people using crypto technology for bad purpose. No doubt it'll harm crypto industry. But in my opinion financial system is not a thing that you just make a decision and change the law. At this moment crypto industries net worth almost $350billion. So it's not a joke.

It's already a huge amount of money that present to this industry, though there's no assurance that the government will do such action.

If they will continue to see that there's illegal activities and there are lots of scamming which causes for
the citizen to lose their money, the president needs to take side, it's not good for people who really understand
crypto but there's no other choose if the government will see the negative side and not to focus with the positive
impacts of this crypto business.

crwth

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Whether or not the head of the country has defined something as illegal, it's not reasonable unless he is scared of decentralization or something. How is it that people make crypto look bad? It's the people that use it for wrong reasons like scamming and making Ponzi Schemes for the people to "entice" into that type of investment and, in the end, blaming the currency being used or what that company is marketing. It's going to make the view of cryptocurrencies seem wrong, but it's the people that are bad.

There are a lot of good reasons why cryptocurrency should stay legal, and the head of the country should acknowledge or at least know that.

maxreish

sr. member

Activity: 1330

Merit: 326

Not fear at all.
There are so many things to consider before deciding to put some law and makes crypto an illegal one in my country. I respect and trust our President. He is a mediocre and wise leader. Also, I believe he will not make such careless decisions regarding cryptocurrency legalities. And there are advisers of the President that may eventually be helpful in every decisions and law he may implement in the future.

cabron

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Things will not flow easily despite the president supporting cryptocurrency, but might just work for a country that already supports cashless transactions like China. When Xi Jin Ping announced he supported blockchain, the price of BTC suddenly spiked in two days. Doing it in countries in South America would just shrug the shoulders of their people saying whatever. They'd still be there fishing in the amazon river.

btcholder

full member

Activity: 686

Merit: 102

I would not like to think that way of course. Cheesy

But it's possible though. Cheesy

It's sad to see that bad people using crypto technology for bad purpose. No doubt it'll harm crypto industry. But in my opinion financial system is not a thing that you just make a decision and change the law. At this moment crypto industries net worth almost $350billion. So it's not a joke.

alani123

legendary

Activity: 2422

Merit: 1451

Leading Crypto Sports Betting & Casino Platform

If crypto is made illegal in one country, then it'd be very hard to block funds derived from crypto. After all, international bank transfers can also happen and banks in other countries wouldn't ban cryptocurrency so easily.
It'd be more devastating if a few countries banded together and decided to ban crypto. This way exchanges couldn't simply move to another country if a block of interconnected economies was working together. But that's unlikely to happen. If a country bans part of the economy, other countries will most likely seek to benefit from it.

rathaha10

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Quote from: btcgolong on August 02, 2020, 08:28:07 PM

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?

Yes i often do worry that the government of my country might decide to ban crypto one day because the media promotes how bitcoin and other cryptocurrency are being use for bad deals and considering how people are perpetuating scam with cryptocurrency, there is greater chance for governments to consider banning the usage of cryptocurrency around here! I just hope some members of the cabinet will know the good side of crypto well enough to debunk such idea when it get raised

abeecrypto

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No worries at all. My country hasn’t even legalized crypto. Neither have they illegalized it. But people use it and the government is aware. In my country, the government is beginning to embrace the cryptocurrency market little by little. I know it’s going to take some time but I don’t see a president making crypto illegal. What do I know!

The legality of crypto rests in our hands. We have to include the government in this crypto journey. Some fellas in my country are beginning to make that movement. I think this would go a long way to foster the progress of crypto in every country.

Memminger

sr. member

Activity: 540

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I think everyone in crypto fears that moment because they doesn't have any choice but to quit or be jailed because of earning in crypto.
Who wouldn't fear about it if you are earning in crypto and they make it illegal then it is the same as losing your job or source of income.

btcgolong

sr. member

Activity: 451

Merit: 269

Quote from: jossiel on August 02, 2020, 10:30:56 PM

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.

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...

ScamViruS

hero member

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Top Crypto Casino

Such a decision must be shocking for those in whose country cryptocurrency is completely legal. Before the government makes any decision, it looks at what kind of crime is being committed using that thing. If they find any inconsistency, they are prepared to ban it. However, it is illegal to use cryptocurrency in the country where I live. Citizens of our country can be jailed for keeping cryptocurrency. So I'm not too scared about that, since I've been dealing with these for so long.

Saisher

full member

Activity: 2324

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I hope it will not happen but so far it's unlikely to happen because so many people are used in transacting cryptocurrency, the new president that will ban Crypto will have to change a lot of laws about Cryptocurrency, Cryptocurrency is well adopted here in our country he will lose supports from so many people and sectors and besides it's helping the economy.

Zeehaxan

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Quote from: btcgolong on August 02, 2020, 08:28:07 PM

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?

Why would we have to worry about such things when crypto is based on decentralization and powered by blockchain technology. Yes we need to follow local rules and regulations but crypto is something different it is borderless and is a unique peer to peer tech which i think cannot be controlled by anyone.

bitgolden

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Honestly I do not because in my country whatever you can tax gets legal and becomes something important and protected, not because government likes it or wants it or even supports it, they do not give a damn about it, but they know that they could tax people and make themselves richer, so that is why they do look like they are supporting it and making it legal, all because they want the tax.

So, I am not worried that my president would do anything about it, he doesn't even know about it if you ask me, if you asked my president what he thinks about bitcoin he couldn't tell you what a bitcoin is, so I am 100% sure people around him are the ones that make the decision and they definitely wouldn't make it illegal considering if they do there will be money not coming in and that would anger the president.

Anonylz

hero member

Activity: 2562

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It won't be nice if for any reason the president of a country decided to present crypto as illegal, this will really affect the crypto community a lot because many people have come to love this space and benefit from it greatly, although, the president in some countries have not publicly come out to put a ban on crypto yet and we hope it won't result to this, if not anything, they should start accepting crypto at soon.

20kevin20

legendary

Activity: 1134

Merit: 1598

I would not be surprised at all if my country came up with a ban, although I do not think so. But enough stupid choices and laws have been passed out here.. If a large country with a significant economy such as the USA does though, it'd become an issue. On the other hand, hardcore Bitcoin supporters would probably rather emigrate in this situation.

Let's not forget one thing. Bitcoin's ledger is completely transparent, unlike fiat. This means hacks are way easier to be tracked than cash scams are, and this is both a good and a bad thing.

If a fiat scam at the level of Twitter's last vulnerability exploit happened, you couldn't see how much of the stolen bucks went to a certain place. Having a public fully transparent ledger makes things seem way more prominent when it comes to scams than cash tracing possibilites does, but in reality, way more fiat is stolen per day than the equivalent of BTC in USD is.

But.. a ban is now unlikely. It would've been a possibility if we hadn't seen large companies allegedly supporting cryptocurrencies. We have followed authorities' path, so we've basically kneeled to them. Hence, they probably do not see us as a danger anymore.

bigcash2011

sr. member

Activity: 1442

Merit: 265

Quote from: btcgolong on August 02, 2020, 08:28:07 PM

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 think such things have already happened especially in 2018-19 where some countries anniunced to ban cryptocurrencies or declared them illegal, it did created some short term FUD and drama but to be honest there was literally no effect on buying, selling, trading or exchanging of crypto coins which proved the solid and commanding position of crypto and increased trust as no third party was able to stop it including governments.

fuer44

sr. member

Activity: 1652

Merit: 262

I was afraid because the jobs in crypto such as bounty, trading, and investing were very good prospects. at that time I always thought that this work must be there forever. but then when the market goes down, the bounty is also quiet, capital for trading and investment is also limited, when there are new rules from the government to ban it, maybe I can accept it. in addition to being in a state like this, the government does have the authority to provide regulations and we must comply with applicable law. I think it would be wise if we obey the rules.

coin-investor

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Quote from: btcgolong on August 02, 2020, 08:28:07 PM

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?

Our president supports this technology and I'm sure all the coming president will support it also because Cryptocurrency is well established here in our country it is legal and has a strong foothold he will lose big support for and his popularity will go down and besides our country has a lot of business that revolves around Cryptocurrency.

Jackl87

sr. member

Activity: 1722

Merit: 269

I'm not worried at all that Crypto will be banned or declared illegal in my country.
Even if it would happen, i don't think that this would have a big impact at all.
Crypto has always been about decentralisation and freedom.
I think it would make it only even more attractive.

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