Do you fear the president of your country, one day, making Crypto illegal ? - page 5.

jossiel

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Quote from: bttmember on November 15, 2020, 01:22:22 PM

There is nothing to get scared because most of the governments and local regulators are not aware of this tech and innovation so with time they will get to know about its legitimacy it will be encouraged everywhere in the world.

They are now becoming familiar with crypto. For some reason, taxation is the first thing that will be applied to it because there is money that the government can benefit from it.

If a government is still unaware of it, I don't know what they are doing. But if you look at the laws and regulations of most countries dealing with bitcoin, most of them are aware of it.

NavI_027

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Quote from: pixie85 on November 15, 2020, 05:50:42 PM

Quote from: ?? on ??

Well actually yes also if that day happened I was thinking of ways on how to bypass the system in order to access cryptocurrency again, I know that it would be dangerous for me and I can be in prison for that but I'm used to cryptocurrency and I don't think they can stop me from accessing it.

It's really easy as long as your banks offer international transfers.

You can move fiat money abroad and set up an account in another crypto friendly country like Estonia, Germany or Belarus. I also don't think the US will ever ban cryptocurrencies.

You can also send fiat to a foreign crypto exchange because your government can ban exchanges in your country but has no jurisdiction outside it.

I like the idea and it actually makes sense. So witty Cool

. Well, even if such method is safe and feasible, I might still refuse to do so. I mean, of course no one wants to go in jail. So why would I make something which could lead me to imprisonment I'm faint hearted when it comes to that matters. I will choose peace of mind than money over and over again.

But anyway, I am actually not worrying for the possibility of banning the use of crypto here in country at least for now simply because our president is more focused on eradicating drugs and strengthening the armed forces. That's his specialty. So I foresee that we can still continue enjoying our crypto profits TAX FREE hehe.

pixie85

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Quote from: ?? on ??

Well actually yes also if that day happened I was thinking of ways on how to bypass the system in order to access cryptocurrency again, I know that it would be dangerous for me and I can be in prison for that but I'm used to cryptocurrency and I don't think they can stop me from accessing it.

It's really easy as long as your banks offer international transfers.

You can move fiat money abroad and set up an account in another crypto friendly country like Estonia, Germany or Belarus. I also don't think the US will ever ban cryptocurrencies.

You can also send fiat to a foreign crypto exchange because your government can ban exchanges in your country but has no jurisdiction outside it.

santiPOGI

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If ever that happens, I am pretty sure that all crypto enthusiast will become worry about it, Although, the President has the authority to do that, but I am not to happen it here of course. Because, We as crypto fanatic knows that this matter is a big thing help for us in terms of financial solution via online.

uneng

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Actually what I most fear are the regulations and abusive taxes instead of a complete ban. Governments aren't fool to ban crypto currency. They know it's an opportunity for them to charge more money from their citizens and to use that excuse they are charging profits to distribute to people in need of the country.
It's digital slavery that should worry people nowadays... You work online, you take the risks by yourself and the government does nothing more than taking a big slice of the cake without supporting you in any ways.

bttmember

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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?

There is nothing to get scared because most of the governments and local regulators are not aware of this tech and innovation so with time they will get to know about its legitimacy it will be encouraged everywhere in the world.

enhu

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Quote from: Mpamaegbu on November 15, 2020, 12:30:20 PM

To be frank, I once had this palpable fear around the time the Chinese government banned crypto activities in China, and I was like what if that happened in my country? But great a thing the ban didn't come, following the Chinese ban. That would've dislodged so many crypto lovers and investors in my country. Since it didn't happen then at a time when Bitcoin had so much bad reviews, I don't see it happening now when the globe is getting into full grasp of its benefits. So, I doubt if the government of my country can ever ban Bitcoin.

I was also thinking of that possibility during that time. The problem, if this will happen today, is that some people had already relied on cryptocurrency earnings. Some users are dependent already on their cryptocurrency-related jobs at home.

If the president of my country makes BTC illegal I'd be one of the users that will be affected too.

firmino10

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Indeed, that is true. There is consistently a likelihood that the governments will limit or even ban the utilization of the cryptocurency market. The explanation is that the presence of cryptocurrencies can hurt the predominance of fiat currency. Governments use fiat currency as an apparatus to control their economy and they don't care for any factor that can compromise their device.

Mpamaegbu

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To be frank, I once had this palpable fear around the time the Chinese government banned crypto activities in China, and I was like what if that happened in my country? But great a thing the ban didn't come, following the Chinese ban. That would've dislodged so many crypto lovers and investors in my country. Since it didn't happen then at a time when Bitcoin had so much bad reviews, I don't see it happening now when the globe is getting into full grasp of its benefits. So, I doubt if the government of my country can ever ban Bitcoin.

gamer4156

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I am certain that won't makes individuals who use crypto will have an issue since we have the other method to get the cash into the financial balance. I trust that my administration, particularly my leader, will reconsider prior to choosing something identified with cryptographic money. Crypto has not come at this point into its legitimate selection however I think when this pandemic has recently begun, individuals has settled on the correct decision to work or put resources into crypto on the grounds that they are truly making acceptable benefits from it and had the option to support their essential necessities.

ZZ8ZZ

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Good question but tbh with you OP, my president and prime minister as well have their bags loaded with crypto even tho they denied it Grin

There was recently some info released by hackers that the politicians in my country have over 20 Million USD invested in crypto, that's literally insane and shows how much potential BTC has.

Argoo

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In my country, the president does not have the authority to make such decisions. The rules for the circulation of cryptocurrency in society are regulated by the relevant law, which is adopted by the parliament, that is, collectively. In this regard, there is no need to be afraid that some top government official will wake up in the morning in a bad mood and do something to the detriment of public interests.

JahriMeayer

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It won't going to be a big thing, if president ban crypto! Because people wouldn't going to stop using crypto as there will have no trouble going to occurred need. Cause people can use crypto from anywhere if they want. no need to wait for president confirmation.so no need to get feared.besides chance is also very few for that.but if anyone would like to go for legality first, then nothing to for them even they wound rather forget crypto

fosco333

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Not sure about that. The certain thing is, we know that cryptocurrency is a decentralized currency.
There will be no one can prohibit people to using crypto because crypto can't be controlled with single entity.
Fear not, we still be able to use cryptocurrency as long as we are using it without centralized exchange who affiliated with government regulations.

Wingo

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Yes, and everyone here is afraid that this might happen. But right now the possibility is very low.
At this time of pandemic, contactless and online transactions are the best solutions to lessen the infection of the coronavirus disease. People can buy goods online using online banking and online payments.
But on the business side, there is an alternative to lessen the cost of processing financial transactions while ensuring security with the use of blockchain technology and cryptocurrency.
So in order for this to happen, everyone must be educated about what cryptocurrencies are. In my experience, there is a stereotype that cryptocurrency is used by scammers and for money laundering. And this mentality needs to change.

sambuddha

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Quote from: NewRanger on October 20, 2020, 12:03:32 AM

Quote from: Tahid12 on October 19, 2020, 03:09:54 PM

It is not possible to ban bitcoin in my country cause the prime minister of our country already declared bitcoin as illegal currency.but i don't care of bitcoin if it will be unban or not, cause i can enjoy & use bitcoin even it is illegal in our country.but every government should allow bitcoin for transactions, thus using bitcoin may helps to develop of our country

allowing bitcoin in any countries will help them to create new opportunity for their citizen to earn money, our government should not look bitcoin from investment side only. they must understand about technology that created by blockchain, developtment in blockchain will create new online job for every person in the world , as developers , marketing team , bounty hunter and many others.when more people have job i am sure it will give positive impact to country.

I really like the laws in Portugal Cool

. In Portugal, tax authorities waived all tax on cryptocurrency trading and transacting – meaning that individuals do not have to pay capital gains tax or value added tax (VAT), when buying or selling BTC and other digital assets. That's cool)

TIDOVEE

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We expect anything on my country , we prepare ourselves against anything. And that's why many people maximize any slight opportunity they get even greedily, so sorry to say this, but it's the truth. My p resident doesn't even have time for crypto now, let alone thinking of it being legal or illegal, if only the members of his cabinet draw his attention to it. Bitcoin is not illegal and we can prove it to him.

Princejebs

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Quote from: Justin999 on October 19, 2020, 11:32:55 PM

Yeas i fear if Crypto get banned by our precedent.but i believe that, if he takes decision something like that, then that due to welfare for our country.cause many developing countries like china, banned bitcoin & declare about using bitcoin is a offensive crime even will be punished by low if found.and that ban has no effect to their people, they still developing so fastly.but i like to use crypto for cope with advance technology

Bitcoin as now at the pick where ban and offensive use no longer affect it value, it has gotten enough traction already, I believe you seen Okex news about their halt on withdrawals which never stop bitcoin growth unlike in the past. What we need right now is real adoption with zero hype.
In my country, we have a clown president, stupid central banks and government. Recently, they reduced purchase of dollars per month to $100/month for ordinary debit cards which is making things difficult for small entrepreneurs and individuals to purchase bitcoin from web except locally with P2p which I don't fancy.
They have authorise banks in my country to close any account that's associated with Bitcoin transactions, so when one make transactions or buy bitcoin through debit card, you must not include anything like Bitcoin purchase. I don't like the idea when government interfere with cryptocurrency.

Vishnu.Reang

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Quote from: NewRanger on October 20, 2020, 12:03:32 AM

allowing bitcoin in any countries will help them to create new opportunity for their citizen to earn money, our government should not look bitcoin from investment side only. they must understand about technology that created by blockchain, developtment in blockchain will create new online job for every person in the world , as developers , marketing team , bounty hunter and many others.when more people have job i am sure it will give positive impact to country.

Well.. I agree that the cryptocurrency sector provides passive employment to a huge number of people. But it is very difficult to make the politicians aware about cryptocurrency. In their eyes, cryptocurrency is a tool which is used by criminals for tax evasion and other illegal activities. Here in India, there were repeated attempts to legalize Bitcoin. But nothing has realized as of now, because of stiff opposition from certain sectors.

NewRanger

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Quote from: Tahid12 on October 19, 2020, 03:09:54 PM

It is not possible to ban bitcoin in my country cause the prime minister of our country already declared bitcoin as illegal currency.but i don't care of bitcoin if it will be unban or not, cause i can enjoy & use bitcoin even it is illegal in our country.but every government should allow bitcoin for transactions, thus using bitcoin may helps to develop of our country

allowing bitcoin in any countries will help them to create new opportunity for their citizen to earn money, our government should not look bitcoin from investment side only. they must understand about technology that created by blockchain, developtment in blockchain will create new online job for every person in the world , as developers , marketing team , bounty hunter and many others.when more people have job i am sure it will give positive impact to country.

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