Topic: Do you fear the president of your country, one day, making Crypto illegal ? - page 9. (Read 4123 times)
August 26, 2020, 12:40:25 PM
Governments can change and how they feel about crypto may change with them; overall I think it's here to stay for most of the world.
August 22, 2020, 04:48:06 PM
The president of my country currenctly has no issue with the crypto space and no law has also been made to answer to crypto yet but i guess if they want to make any laws, it will be in favor of the crypto space apart from the world of national politics.
August 22, 2020, 04:45:17 PM
Even if a president of a certain country having a bad day and want to flex his power over little matter, ban cryptocurrencies, it will not have a strong impact since cryptocurrencies are decentralized. I think they won't ban crypto currencies in the future because people raising awareness over crypto currencies. Mine country also likes that.
I think that will still make some new traders who do not understand the relationship between cryptocurrency and the government. I am sure that there will be a decline in prices because there are panics and eventually the cryptocurrency price collapses for a while and will slowly recover. August 22, 2020, 02:43:54 PM
Even if a president of a certain country having a bad day and want to flex his power over little matter, ban cryptocurrencies, it will not have a strong impact since cryptocurrencies are decentralized. I think they won't ban crypto currencies in the future because people raising awareness over crypto currencies. Mine country also likes that.
August 22, 2020, 02:33:23 PM
This would be similar to people not being able to hold physical gold legally, but you will still find many people hoarding them even more hastily because of this "restriction".
With the numerous ways to hide your identity online like VPNs and using decentralized exchanges and over-the-counter transactions, I'd go ahead and say with confidence that a ban on cryptocurrencies will raise their value even higher.
Regarding the president of my country, I haven't seen him even talking about cryptocurrencies yet, so I can't make an affirmation on that.
With the numerous ways to hide your identity online like VPNs and using decentralized exchanges and over-the-counter transactions, I'd go ahead and say with confidence that a ban on cryptocurrencies will raise their value even higher.
Regarding the president of my country, I haven't seen him even talking about cryptocurrencies yet, so I can't make an affirmation on that.
August 22, 2020, 02:21:36 PM
I am afraid someday, cryptocurrencies will be ilegal in my country. Till today's date even it not consider legal or ilegal. So decision may come on any side.
I have to see what to do with my investment if it's banned in future.
I have to see what to do with my investment if it's banned in future.
August 11, 2020, 01:05:26 PM
Crypto is unstoppable and can't be stopped, even government are looking into crypto right now, see what happened in crypto space even in a tough time like this (pandemic) makes crypto more stronger and more popular, banning won't work on crypto
We know that banning cryptocurrencies is never going to work because they have been specifically designed to resist any attempt of the government of doing so, but if an important economic crisis happens, even bigger than the one we are in right now, then governments are going to try any single measure that they can against cryptocurrencies even if they know those measures are going to be ineffective but at the end they will have to recognize and adopt cryptocurrencies whether they like it or not. August 11, 2020, 08:12:16 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 am not agree with it because for a simple twitter hack, crypto currency that full reflect in economy would be legal. In our county crypto currency is totally illegal and some were arrested for illegal transaction so if they think such like you, my president site or any other govt site would hacked to make crytp currency legal.
I also think this is a part of finance department and central bank so they must take decision by research that US finance department did otherwise president can not give permission this.
thanks.
August 11, 2020, 07:53:21 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 do however see pro crypto people in govt ranks so i am hopeful pro crypto policies will soon emerge and they will encourage more people to enter crypto with massive investments.
August 11, 2020, 07:37:44 AM
No, I'm not because it's going to be short-lived because president life's and tenant is only for a short period of time president just come and go but Bitcoin and Cryptocurrency are here to stay, they are going to make an impact in our lives and future of our civilization.
August 11, 2020, 07:25:50 AM
The president of my country has the legal rights to declare cryptocurrency illegal, but as it stands cryptocurrency is not a legal tender in many countries but its still used for transactions by individuals and companies who love to accept it. I personally don't think that the presidents order would make much impact, since he's order can't change people's choices, unless it's a criminal offence and shouldn't be used by the citizens.
August 10, 2020, 12:13:05 PM
Cryptocurrency is decentralized, so the government will never be able to discourage its development. Many countries have banned crypto but the people there still use it every day and make profit from it
That's true, there is always a workaround, I would think that a government would probably start by running PSA (public service announcement) type of campaign to scare people into not using crypto.
Has anything like this happened in any countries? I know some people ("business leaders") in America have cautioned against investing in crypto; saying the same old things (not based on anything, blah, blah)...I'm glad no one is listening.
August 10, 2020, 08:15:09 AM
Yes there will be some political resistance to not just crypto but also to digital currency backed by the government at first but I don't see any country banning crypto permanently . They might ban temporarily for the regulations to be in place at max.
August 10, 2020, 05:54:04 AM
This is every holder's fear they want to transact freely and they want to hodl without the government questioning them if their president will ban it there's a big possibility that they will go underground or will have to travel where Crypto is openly trading.
Its really bad for crypto enthusiasts if we cant use and trade crypto freely but if ever it happen we have no choice but to comply. There are other countries already ban crypto so it is not impossible to happen.
Good thing crypto is not prohibited here though the government also warn the citizen to careful when investing on crypto due to scam.
August 10, 2020, 05:24:42 AM
I don't think it could be remotely possible even if an "old school" president wants to do it. Mainly because most countries already consider cryptocurrencies are not a real currency like fiat and they don't see any reason why they should ban it. "If you want to use it or hold then okay, else we really don't care even when there are problems from it" that kind of attitude. My country has this attitude so I'm not worried at all.
August 09, 2020, 01:44:22 PM
I fear sweeping change - what if there is a drastic shift in government, new senators and congressmen - and they see "public" decentralized crypto as a threat; because the bank lobbyists paid them off and they now want to promote their own big corp version...
We know it has happened in some countries, but is your country safe?
We know it has happened in some countries, but is your country safe?
August 08, 2020, 01:03:46 PM
This is every holder's fear they want to transact freely and they want to hodl without the government questioning them if their president will ban it there's a big possibility that they will go underground or will have to travel where Crypto is openly trading.
August 08, 2020, 12:51:02 PM
Yes, it could be possible but not on the global or worldwide but limited to one country. For example, I can see some countries with high number of crime rates with the drug, human trafficking, homicide,... Could try to ban crypto because they only see it as a payment for criminals. Since my country doesn't have a high crime rate like that so I don't it will be possible for my country.
August 08, 2020, 10:58:39 AM
We don't know what might gonna happen in the future but I’m not worried in case crypto will be ban in my country. In case if this would happen there’s a discussion to tackle about cruptocurrency. Actually the government will not make a quick decisions that will suffer the people he will gather the bright side of this crypto brought to the users. In regards to this let's still always be ready to face the consequences might happen in crypto industry.
August 08, 2020, 07:44:16 AM
I'm not afraid of it because currently in my country crypto is illegal but until now I was able to make money from the crypto world, what we need to be afraid of now is that crypto is down and enthusiasts have started a little, don't let it happen
That means there are no local exchanges which will make things hard for you to convert your crypto to fiat and how much extra amount you are spending to overcome those, i know these are not cheap as there will be conversion charges and other charges will converting. Even with all these restrictions there are options but i am not having any issues as i am expecting regulations rather than making it illegal. Jump to: