For a country still illegal against bitcoin? - page 2.

Granxis

hero member

Activity: 1400

Merit: 536

Quote from: Tigorss on March 07, 2018, 08:15:34 AM

Iceland
Iceland has implemented strict capital controls as part of the monetary policy adopted following the global economic crisis of 2008. It aims to protect the outflow of currencies from the state. For the same reason, forex trading with bitcoin is also banned in Iceland because its kripton does not comply with the Foreign Exchange Act there. Interestingly there are currently other new digital currencies unearthed in Iceland yaittu Auroracoin. Its founders claimed to want to create a viable alternative to Iceland's banking system.

I knew Iceland was a country in which the banking system was not open to the outside. So Iceland is not as effective as the netherlands and the United Kingdom in the financial sector.

BCTBF

sr. member

Activity: 560

Merit: 257

Quote from: Paditani on January 18, 2018, 07:42:28 AM

In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?

In my country bitcoin is only forbidden to serve as a means of payment, and the government only advises to be careful investing in bitcoin. With so many countries still fighting bitcoin I think that's natural, because bitcoin is a market that can not be controlled by the government and there are so many worries on bitcoin so then it's better they forbid bitcoin to be used. And again now more and more are against bitcoin like facebook, google, and twitter.

bL4nkcode

copper member

Activity: 2142

Merit: 1305

Limited in number. Limitless in potential.

Quote from: St4yInTh3D4rk on February 28, 2018, 11:07:12 AM

I think the country Bangladesh and Nepal are the only countries banned the bitcoin in their countries but many Asian countries are in the legalization process so we have to wait for the respective governments to announce officially.In my knowledge there are only countries made bitcoin usage illegal in their countries.

You should include China and Vietnam too for restricting their people to bitcoin.

Quote from: Zadicar on January 20, 2018, 04:07:37 PM

Decentralized, Anonymous, Cant be Taxed, Will affect financial supply.

This are the most common reasons why Bitcoin is banned in some countries. And also don't forget money laundering and funding terrorism.

But I don't know how G20 will affect cryptocurrency value including bitcoin, as it reaches 8k again after some news regarding G20

btc-facebook

legendary

Activity: 1862

Merit: 1015

Quote from: KorakPawon on March 18, 2018, 11:37:43 PM

...another reason is the fear if the digital currency is used as financing of terrorism.

My country still forbid bitcoin because bitcoin still consider as risky investment that able to cause massive inflation for my currency
I heard that G-20 will do nothing for cryptocurrency because they still not consider as a threat yet so my government will do the same , at least bitcoin will not drop too much !

LadyCoin

full member

Activity: 448

Merit: 100

Quote from: Paditani on January 18, 2018, 07:42:28 AM

In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?

especially in my country if the government does not legalize because the government is afraid of bitcoin or cryptocurrency is done for crime and money laundering.
and the government does not want the function of paper money replaced by bitcoin.

KorakPawon

member

Activity: 350

Merit: 11

Strict rules in a number of countries also make a lot of digital currency enthusiasts who must go to jail because they are considered against. The main reason is the fear of these countries will be the volatility and uncertainty of digital currency. In addition, as quoted from bitcoinbans.com, another reason is the fear if the digital currency is used as financing of terrorism.

Claudyah

newbie

Activity: 252

Merit: 0

Quote from: terrific on January 18, 2018, 08:09:57 AM

Quote from: Paditani on January 18, 2018, 07:42:28 AM

In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?

This has been discussed and told that bitcoin is illegal in some particular country because they don't want their citizen to engage in such coin that is being used to criminal activities. This is their belief since bitcoin has been used before to those activities that we can't deny but now there is another coin taking over that job that bitcoin took before. They don't understand that bitcoin is in a new level today and it's on the mainstream and is being use as store value and investment.

instead of not receiving bitcoin but not yet regulated, it takes time to make the regulation plus also to understand bitcoin is not as fast as turning the palm of the hand all takes time.

burner2014

hero member

Activity: 952

Merit: 515

Quote from: Budugbass on March 15, 2018, 02:41:27 AM

Anyhow because there are still thoughts bitcoin/kripto have a negative impact (risk) and the lack of review or learn more deeply on bitcoin/crypto related technology.. this could be the reason still illegal.
For citizens it can be profitable and very helpful, but the basis of responses from countries.. of course it's different and have many considerations especially of the risks related the all characteristics of crypto.

It is already given, and no doubt about it that it has risk as this was not came or governed by our government, so things won't come as easy with just a blink of an eye, it will take a lot of considerations, studies, evaluations and debates in the congress and Senate before it will legal in one country.

Budugbass

full member

Activity: 392

Merit: 100

Anyhow because there are still thoughts bitcoin/kripto have a negative impact (risk) and the lack of review or learn more deeply on bitcoin/crypto related technology.. this could be the reason still illegal.
For citizens it can be profitable and very helpful, but the basis of responses from countries.. of course it's different and have many considerations especially of the risks related the all characteristics of crypto.

richardsNY

legendary

Activity: 1232

Merit: 1091

Quote from: StonedWolf on March 12, 2018, 02:10:08 AM

Well, simply, no government can control the bitcoin market, because, in this field, everything is anonymous and everything is hidden. As a result they can't neither get a percentage of the transactions as taxes nor control the money flow, that is something that all governments cannot accept !

Governments can control centralized exchanges, and that's already what we have seen happen. They even managed to make Coinbase hand them over the details of 13,000 users, and they, if found guilty of tax evasion, will be facing the consequences. If you want to make sure the government can't do anything to you, then stay away from centralized exchanges, because they will snitch on you if they are being forced to do so. But even if you don't make use of centralized exchanges, legally you as a brave citizen are still obliged to pay tax, even though the government can't directly force you to do it when they don't know you hold anything or made profits.

Hamphser

sr. member

Activity: 2506

Merit: 328

Quote from: Paditani on January 18, 2018, 07:42:28 AM

In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?

We do all know that each country do have different perspective when it comes to bitcoin this would really result into different prohibitions or even comes to decide on fully adopting it which isn't really a surprising thing but now we are seeing gradual increase of ban into some countries which doesn't really like the features of bitcoin that's why they decide on fully banning and prohibits it to be used by its citizens.

StonedWolf

full member

Activity: 308

Merit: 120

Well, simply, no government can control the bitcoin market, because, in this field, everything is anonymous and everything is hidden. As a result they can't neither get a percentage of the transactions as taxes nor control the money flow, that is something that all governments cannot accept !

Baoo

full member

Activity: 854

Merit: 116

Actually, due to the existence of bitcoin there was many economic problems in some countries and the popularity of bitcoin develop always in every period of time, So the value of FIAT (like, euro, dollar...) has some financial problems or crisis.
In fact, the governments cannot recognize bitcoin and other cryptocurrencies because they cannot control their transactions of money, due to they are digital. But I think in the near future there will be a solution to those problems and then the majority of countries will use bitcoin as a legal currency.

Palmholder

full member

Activity: 224

Merit: 100

Quote from: jhongzjhong on March 08, 2018, 05:05:57 AM

Quote from: Palmholder on March 08, 2018, 04:58:47 AM

I think bitcoin is banned in only countries which have weak economy and national currency. Such countries are not able to tolerate bitcoin because of fear to reduce value of national currency and central bank influence. That is what happens in Vietnam, Bangladesh, Indonesia etc.

We could not blame them, but hopefully, later on, they were realized what is useful bitcoin it is and other cryptocurrencies that they refused. Those countries are not opened minded to their community that these cryptocurrencies are really helped to growth economy problem such as unemployed people will lessen. We hope that someday they will be embraced bitcoin and to grow more of the population in bitcoin holder.

I dont think those states seriously care about unemployment and level of people's life, Bangladesh particulary is forgotten land with middle ages law. I bet authorities are able to realize how bitcoin may help sitizens, but bitcoin is threat for people in power so they would not tolerate it. Central bank and other state institutes may lose financial control over people therefore lose profit and "legal" power. They just care of themselves

jhongzjhong

full member

Activity: 798

Merit: 109

https://bmy.guide

Quote from: Palmholder on March 08, 2018, 04:58:47 AM

I think bitcoin is banned in only countries which have weak economy and national currency. Such countries are not able to tolerate bitcoin because of fear to reduce value of national currency and central bank influence. That is what happens in Vietnam, Bangladesh, Indonesia etc.

We could not blame them, but hopefully, later on, they were realized what is useful bitcoin it is and other cryptocurrencies that they refused. Those countries are not opened minded to their community that these cryptocurrencies are really helped to growth economy problem such as unemployed people will lessen. We hope that someday they will be embraced bitcoin and to grow more of the population in bitcoin holder.

Palmholder

full member

Activity: 224

Merit: 100

I think bitcoin is banned in only countries which have weak economy and national currency. Such countries are not able to tolerate bitcoin because of fear to reduce value of national currency and central bank influence. That is what happens in Vietnam, Bangladesh, Indonesia etc.

Kemarit

legendary

Activity: 3080

Merit: 1353

Quote from: Paditani on January 18, 2018, 07:42:28 AM

In some Asian countries bitcoin is very influential for people to invest. why it is still illegal for a particular country. to be more clear and can be received by the government like where?

Because they are really afraid how disruptive this technology its.

Quote

A disruptive technology is one that displaces an established technology and shakes up the industry or a ground-breaking product that creates a completely new industry.

http://whatis.techtarget.com/definition/disruptive-technology

So by definition, bitcoin and crypto can really change the landscape of a certain country. They think that probably it can replace their traditional system specially banking. So to put a stop on it, some countries ban it. However, there are still nation like Japan who thinks otherwise. They embrace crypto and up to now we haven't heard any negatives coming from them about the drastic effects. So its all bullshit. They just wanted to stop it because they are losing money. When people go to crypto, we eliminated banks in the middle. That's what banks is afraid of. They are losing potential profits because of cryptos.

tweetbit

full member

Activity: 560

Merit: 112

Quote from: gantez on March 02, 2018, 10:29:45 AM

Quote from: btc.fanda on January 18, 2018, 08:09:48 AM

I know so far China is against bitcoin and they are promoting only NEO Coin

If they are promoting NEO coin as you said. What is then the point fighting and banning crypto business. This will simply mean deceit.
Because , Neo is also a crypto currency. No evidence to your statement anyway.

Why? Because of greediness and security, they want they’re citizens to profit as well as the government itself and not the foreign countries. I have heard NEO coins before and I know it is a chinese made coin, but by the government of China promoting it as of the moment, I have no idea about that. I need time to research about that statement or btc.fanda should give a Link for verification.

Coffee135

full member

Activity: 392

Merit: 137

Quote from: Tigorss on March 07, 2018, 08:15:34 AM

Iceland
Iceland has implemented strict capital controls as part of the monetary policy adopted following the global economic crisis of 2008. It aims to protect the outflow of currencies from the state. For the same reason, forex trading with bitcoin is also banned in Iceland because its kripton does not comply with the Foreign Exchange Act there. Interestingly there are currently other new digital currencies unearthed in Iceland yaittu Auroracoin. Its founders claimed to want to create a viable alternative to Iceland's banking system.

All coins pursue such a goal. But we must be prepared for banks to actively resist this. No one wants to lose their income. Now the entire world economy is created by banks and works to enrich the bankers. Do you think without a fight, they will pass everything that was built a few centuries? We need to be very strong to win this war. It seems to me that the community is not yet ready for this.

Tigorss

member

Activity: 308

Merit: 10

Iceland
Iceland has implemented strict capital controls as part of the monetary policy adopted following the global economic crisis of 2008. It aims to protect the outflow of currencies from the state. For the same reason, forex trading with bitcoin is also banned in Iceland because its kripton does not comply with the Foreign Exchange Act there. Interestingly there are currently other new digital currencies unearthed in Iceland yaittu Auroracoin. Its founders claimed to want to create a viable alternative to Iceland's banking system.

Topic: For a country still illegal against bitcoin? - page 2. (Read 523 times)