Topic: Malaysia's Central Bank to Decide on Crypto Regulation at Year's End (Read 227 times)

LOL Hahaha, you are obviously confused, haha.

Why the Malaysian central bank doesn't matter = Over four years ago, back in 2013, All central banks including the Malaysian one followed suit to ensure every big bank in the world including in Malaysia to train bank tellers and their supervisors to block transactions if you mention to the bank it is for "bitcoin". Blocked and banned since 2013 yet they still cannot control it. Never say "bitcoin" and you are fine and the banks can never control that. That is why Bitcoin keeps growing.

Exponential growth despite worldwide bank bans:
Bitcoin is GLOBALLY held and sought after by people in almost every country - see global trade data by country or see this list:
https://bitcointalksearch.org/topic/which-country-are-you-from-here-list-thirty-popular-bitcoin-countries-for-trade-1853019

example screenshot:


Even China is irrelevant! China or any country's government for that matter should all go ahead say bitcoin is illegal and it will do nothing to Bitcoin. In fact they might as well all say bitcoin is legal and that will do nothing.
Bitcoin reached escape velocity 4-years ago in 2013 which means it cannot be stopped - cannot make it illegal or legal - governments/banks do not matter.

Bitcoin has freed, continuing to free, and tomorrow will still free many people globally from the centrally controlled debt-based fiat system that confiscates your wealth with inflation and tax. Bitcoin is a TRUE savings vehicle. Buying Real Estate, Hospital healthcare, Global traveling, College Education gets cheaper as you hold Bitcoin.

And it has become clear that...
Bitcoin CANNOT be controlled.

Bitcoin cannot be made legal. Governments may still attempt to do so.

Bitcoin cannot be made illegal. Governments may still attempt to do so.

Central banks already control and manipulate Stocks, Real Estate, Gold, Interest Rates. They have no such domination on Bitcoin and wont.


On the opposite end of the spectrum the global fiat (US Dollars, Indian Rupees, Chinese Yuan, etc) bubble system broke a couple of decades ago.

Fiat around the world is forced to inflate issuance as its heavily infested, burdened and broken with:
-regulatory burden on fiat banks & system (incredibly costly)
-unemployment & other welfare costs
-inflating fiat to keep stock market rising and to keep house-prices from collapsing
-financing conflicts, bombs, and "aid"
-insurance fraud
-false claims and insurance loss-events
-stabilize regions after natural disasters
-keeping monopolies with internet access centralized and search engine crawlers centralized
-money laundering
-chargebacks
-frivolous legal costs (lawsuits bogging the system down)
-state-sponsored corruption and unofficial corruption (governments and gangs, banks and conartists)
-retirement obligations (debasement in value to keep up with payments from government or other retirement-obligations)
-fake credit (goods being transacted with credit-loss, replaced by inflation of monetary base rather than bringing perpetrators & source to justice)
-using enforcement labor to freeze accounts and assets and take away your money
-costs of auditors and budgetors and accountants to governments and businesses

Bitcoin, systemically, is free from these burdens.

Bitcoin is GLOBALLY held and sought after by people in almost every country - see global trade data by country or see this list:
https://bitcointalksearch.org/topic/which-country-are-you-from-here-list-thirty-popular-bitcoin-countries-for-trade-1853019

CAN SOMEONE PLEASE STOP BLOWING BUBBLES OF EXTRA FIAT MONEY AROUND THE WORLD? (PLEASE NO MORE USD, EUROS, JAPANESE YENS, INDIAN RUPEES, CHINESE YUAN, MEXICAN PESOS - PLEASE STOP INFLATING AND MAKING BITCOIN SO VALUABLE)...stop this pumping

https://macromon.wordpress.com/2017/04/26/the-chart-that-floats-overvaluation/

That is great for the country of Malaysia as more people will talk about it now and it will only continue to gain more legitimacy that way. Hopefully they legalize it without taxing. That's the best option for them so they can get people to spend BTC there.

Malaysia is an advanced country, but few who use Bitcoin may not be like China or Japan. The impact will be felt after all countries in southeast asia begin to see Malaysia as the leading country to legalize bitcoin.

Eh, given that the GDP per Capita there is pretty low I highly doubt many people in Malaysia are actually ending up using Crypto their. I know there is probably a select few, maybe even miners, which is why regulation has to come out from the government but I just can't see too many people using Bitcoin in a place like Malaysia.

If this was another country, like Canada or the US, it'd be taken seriously.

Here is an article about it though - https://www.cryptocoinsnews.com/malaysias-central-bank-enforce-cryptocurrency-ban/

URL: https://twitter.com/BTCTN?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor

Wondering how much of an impact will this be on Crypto world..