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Topic: Don't panicked if bitcoin illegal in your country. - page 3. (Read 841 times)

legendary
Activity: 2352
Merit: 6089
bitcoindata.science
I find the biggest problem about bitcoin being illegal in a country that one should not buy/sell bitcoin. If he does, he can get into trouble, no matter what OP tells.
However, there are ways to earn bitcoin if one has the skills and the patience. And this can be just enough. Sooner or later bitcoin will be unbanned and one can find himself quite a HODLer at that point. Of course, it needs trust and patience at super high levels.

I agree that you should not be buying/selling bitcoin if it becomes illegal in your country. However, you can just do that elsewhere, where it is legal.

One can travel abroad and spend their bitcoins there, where it is legal. Or he can just sell it in an international exchange and move the money to an bank account in another country.

In the end, the only people who will suffer with BTC prohibitions are the ones who doesn't have much money or don't have the information to trade in another location. People with money and/or information will always find a legal way to buy/sell bitcoin (unless we are talking about a global prohibition of btc, which is quite unlikely to happen)
legendary
Activity: 3668
Merit: 6382
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I find the biggest problem about bitcoin being illegal in a country that one should not buy/sell bitcoin. If he does, he can get into trouble, no matter what OP tells.
However, there are ways to earn bitcoin if one has the skills and the patience. And this can be just enough. Sooner or later bitcoin will be unbanned and one can find himself quite a HODLer at that point. Of course, it needs trust and patience at super high levels.
legendary
Activity: 1820
Merit: 1207
If any government of the country ban crypto currency, Still you can transect bitcoin or any other crypto currencies. No one can understand. In this modern world 'Ban' is a valueless word. We are not committing in crime. We just make easy to transect our money.
1. How can you have Bitcoin/other crypto if you not bought it? When you bought it, you need to trade with your fiat isn't?
2. Which exchanges you used and does you've submit your KYC?
3. Which browser you use, are you using VPN?
4. Have you ever publiced your public key on social media or any apps?
5. Have you ever heard chainalysis? If not google it.

Even you have followed all steps to hide from government, I still advice to not use Bitcoin if you live where Bitcoin is illegal because it's just like committing a crime.
legendary
Activity: 2688
Merit: 3983
Violating the law is a crime, regardless of your position of that law, and therefore if the government bans Bitcoin in your country, you are legally prohibited from using those currencies.

Sometimes the government does not have a comprehensive control of cryptocurrencies, but this does not mean that it is a permission to use them, especially if a problem occurs and it is discovered that you have Bitcoins.

Perhaps the best scenario would be buying and storing until it becomes legal, or traveling to another country and selling it and returning to the original country with legal currency.
jr. member
Activity: 53
Merit: 2
Some countries don't allow to transect bitcoin or any other crypto currency. This is totally illegal by law in those countries. After invention of bitcoin, A great revolution happened in digital currency. world day by day going to depend on crypto currency for the demand of free currency. If any government of the country ban crypto currency, Still you can transect bitcoin or any other crypto currencies. No one can understand. In this modern world 'Ban' is a valueless word. We are not committing in crime. We just make easy to transect our money.
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