Not banned, yet not accepted | Bitcointalksearch.org

Mr.right85

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Quote from: Obari on September 17, 2023, 06:34:07 PM

Now my question is this, do you think because bitcoin is still widely in use in countries where it has alot of restrictions makes it not banned or people who use it are breaking some sort of law?

In my country, there are strict rules against local banks not getting involved in cryptocurrency transactions which simply means that the government has banned all cryptocurrency transactions though local banks but yet people still think bitcoin isn't banned.

Banks are agents and an affiliate of the CB and there product remains fiat. Having the local banks be actively involved in trading cryptos doesn’t make them good supporters of the CB which they remain affirmative to.

Not banned with restrictions is by some means a way to protect citizens and ensure they dwell more on the fiat currencies.
While you shouldn’t feel so bad about restrictions is that, it doesn’t become unlawful and you could as well defend yourself in the face of the law and be good. You just ensure your transactions are legitimate and use means that are legal and acceptable within the jurisdiction.

It’s a tricky situation but, that’s why bitcoin is decentralized and remains anonymous amongst its users.

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Quote from: fruktik on September 22, 2023, 01:17:00 AM

And I thought that this forum was intended for communication, not making money. Roll Eyes

I would like to know from you. Why do you need these Bitcoins as a means of payment? Do you plan to use them to pay in stores or something else? I would like to consider the request in more detail. Is the national currency really that much worse? Everyone has long been accustomed to it and does not want to change anything, but you have a different vision.

There must be some reason for everything. One desire is not enough. Will this bring the results and prospects you are counting on?

I think people who love Bitcoin more than any national currency will treat Bitcoin differently even though that person will still expect better things from Bitcoin and I think that person will also not think badly of Bitcoin if Bitcoin is not accepted as payment goods and services for the whole world. Because such a person will tend to prefer to spend national currency rather than spend Bitcoin to shop for what he wants.

And if you want to consider this request in more detail, it means that you also don't want to just give up Bitcoin on things that are not that important or if this can still be done using the national currency. I am sure that those who receive Bitcoin, such as shop owners or companies for the goods and services they sell, are people who understand Bitcoin and have also invested in Bitcoin. If this were not the case, they would definitely not be willing to accept it as payment, especially if it were for goods and services that they sell generally to everyone.

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Quote from: 2Pizza410000BTC on September 18, 2023, 01:14:23 PM

In fact Bitcoin is still banned in the country I live in. Banks in my country strictly prohibit cryptocurrency transactions Even though the government has banned bitcoin in my country and banks have completely stopped cryptocurrency transactions, we are using cryptocurrency very well in my country. That's why I don't have to face any obstacles here. I am trading in bitcoins without any hindrance and selling bitcoins and converting them to my country's currency. But I'm hopeful that one day this bitcoin transaction will be introduced in my country too, then we won't have to use bitcoin in a hidden way like we do now.

But I feel very blessed to be working on this bitcoin forum. Because I didn't believe in making money from this crypto currency forum. I earn from working on this bitcoin forum and from here I hope to eliminate my own unemployment. I can contribute to the development of the country.

And I thought that this forum was intended for communication, not making money. Roll Eyes

I would like to know from you. Why do you need these Bitcoins as a means of payment? Do you plan to use them to pay in stores or something else? I would like to consider the request in more detail. Is the national currency really that much worse? Everyone has long been accustomed to it and does not want to change anything, but you have a different vision.

There must be some reason for everything. One desire is not enough. Will this bring the results and prospects you are counting on?

Wiwo

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Quote from: Fivestar4everMVP on September 21, 2023, 09:28:50 AM

Well, the circumstances relating to bitcoin and crypto currencies in general' in Nigeria is one that indeed will leave anyone puzzled, since the government outrightly banned local banks from transacting in crypto, even ordered the banks to close with immediate effect, any account discovered to be transacting in bitcoin, and yet, the same government have turned and imposed 10 percent tax on every crypto gains, even while they have not officially lifted the ban on banks transacting in crypto, where exactly in the world is such a thing done?

I Personally have come to agree with Bitcoin and cryptocurrencies are not banned in Nigeria, but it's just that some entities are restricted from transacting in it.

The Nigeria government never banned Bitcoin at first, what happened back then was a game that was planned by the then CBN governor who is currently being arrested for financial crimes and Arms dealing plus terrorism financing, being a bad actor in the economy with his then position he made such uninformed ill thoughts out ban on banks from transacting in Bitcoin and ordered any account openened in that respect to be closed.

So this act have built a lot of misconceptions around the status of Bitcoin in Nigeria but then anyone in Nigeria will testify to the fact that cryptocurrency has gained a lot of traction in Nigeria with a large majority of youths getting actively involved in it with many already engaging in bitcoin mining even though it not made public yet.

Fivestar4everMVP

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Well, the circumstances relating to bitcoin and crypto currencies in general' in Nigeria is one that indeed will leave anyone puzzled, since the government outrightly banned local banks from transacting in crypto, even ordered the banks to close with immediate effect, any account discovered to be transacting in bitcoin, and yet, the same government have turned and imposed 10 percent tax on every crypto gains, even while they have not officially lifted the ban on banks transacting in crypto, where exactly in the world is such a thing done?

I Personally have come to agree with Bitcoin and cryptocurrencies are not banned in Nigeria, but it's just that some entities are restricted from transacting in it.

CryptoHeadlineNews

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We all know what Bitcoin/cryptocurrency stands for (i.e to take the control of finance from the hands of banks/government to private individuals due to it's decentralized nature), and as such, I think that's the main reason why banks and government are always against it (i.e being a digital currency which they have no control over it). But on the contrary, when it comes to "Nigeria", I will love to say that banks and all other financial institutions were asked to restrict all Bitcoin related transactions so as to prevent people from the acclaimed risk said to be associated with Bitcoin due to it's volatile price nature, so that doesn't mean for those who decided to take the risk of investing their own money were given a punishment of any kind.

However, more update can be found in the link below;...
https://www.benjamindada.com/cbn-nigeria-ban-crypto/

Alpha Marine

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It's the technicalities of the situation.
Like you said, local banks have been restricted from getting involved with crypto, but the public is allowed to use it. It's like banning crypto without really banning crypto.
Now that will affect the acceptance of crypto in the country.
Meaning you won't be breaking any law if you own crypto or even trade crypto because the government didn't say you can't have or trade crypto. If it was a ban, it would be illegal for you to even own or trade any crypto.

There's a difference between a complete ban and restrictions.
What the government succeed is doing is reduce the adoption of crypto without actually being openly against it.

Just like what the government of India and some other countries did with the tax rates on crypto investors and exchanges. They try to tax people out of business, therefore minimizing crypto activities without actually banning it completely.

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Quote from: irhact on September 21, 2023, 05:37:13 AM

Quote from: Obari on September 17, 2023, 06:34:07 PM

I've seen several threads talking about bitcoin not been banned in their country but yet they're not allowed to make any bitcoin related transactions through their local banks and this has really kept me puzzled lately about how people think because they still use bitcoin despite it's restrictions in their country makes it seem is not banned.

If the country you're staying in hasn't ban the use of Bitcoin then it isn't banned, when the government wants to ban anything they don't stay on the fence, they'll make it a public knowledge that the use of that thing that they want to ban is banned and any individual caught using it will be punished. From your explanation, the government hasn't banned Bitcoin in your country but restricted banks from allowing individuals using their banks to participate in cryptocurency transaction.

I don't support law breakers therefore when Bitcoin is officially banned by you your government, don't go behind their back and make use of Bitcoin. If you have made some profits or have enough money to relocate to a neighboring countries that the government isn't strict do it.

So how do you explain the government ordering an account to be frozen if it is discovered that the account is used to trade bitcoin? In this case, saying that the government does not ban bitcoin is not entirely correct because they know clearly that to be able to participate in bitcoin investment, banks and fiat are the only and necessary way for anyone who wants to own bitcoin own bitcoins. If you don't have access to a bank account and fiat, how will you invest in bitcoin?

This situation is also happening in my country and it is quite difficult to understand what the government is thinking about bitcoin. Furthermore, with the bank account freezing order, no one dares to publicly say that they are using bitcoin.

irhact

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Quote from: Obari on September 17, 2023, 06:34:07 PM

I've seen several threads talking about bitcoin not been banned in their country but yet they're not allowed to make any bitcoin related transactions through their local banks and this has really kept me puzzled lately about how people think because they still use bitcoin despite it's restrictions in their country makes it seem is not banned.

If the country you're staying in hasn't ban the use of Bitcoin then it isn't banned, when the government wants to ban anything they don't stay on the fence, they'll make it a public knowledge that the use of that thing that they want to ban is banned and any individual caught using it will be punished. From your explanation, the government hasn't banned Bitcoin in your country but restricted banks from allowing individuals using their banks to participate in cryptocurency transaction.

I don't support law breakers therefore when Bitcoin is officially banned by you your government, don't go behind their back and make use of Bitcoin. If you have made some profits or have enough money to relocate to a neighboring countries that the government isn't strict do it.

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Quote from: Obari on September 17, 2023, 06:34:07 PM

Now my question is this, do you think because bitcoin is still widely in use in countries where it has alot of restrictions makes it not banned or people who use it are breaking some sort of law?

When there is a serious incident or cases in some countries, it will definitely be aired on social media or some news channel, and there have not been any incidents where I happen to come across any bitcoiner yet being penalized or punished for violating the law and investing in bitcoin, so I guess even if bitcoin is banned in most of those countries that claim that they place a ban on bitcoin, then the ban is not serious. Also, in every country, there are usually states, sub-states, cities, and villages. Be it as it may, there are some things (law violations) that can be done in some states of the country and can easily be detected and dealt with, but the same thing can be done in a sub-state and might not face any serious penalty. The same thing can be done in a village (the rural part), and no one would even give a fuck about the law. So, in some countries where bitcoin is banned, since you are not in those countries, you cannot tell how serious the rules are or how citizens are managing to buy their bitcoin secretly in violation of the law.

0t3p0t

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Depends upon how strict the regulation a country can implement. Here in my country we can buy and sell Bitcoin though local exchanges, e-wallets and banks that supported Cryptocurrency but will undergo such regulation. In other countries with strict policies on crypto I think Bitcoin enthusiasts will be having a hard time to perform a trade. I think we can have a full access to any Bitcoin or other cryptocurrency forums around the world without any problems. Correct me if I am wrong. Unfortunately if things really won't work in your country, the only solution is to move into another country that is crypto friendly.

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Quote from: kro55 on September 18, 2023, 10:50:57 PM

Quote from: pawanjain on September 18, 2023, 09:46:33 AM

It is indeed a weird situation because it depends on the banks whether they want to support cryptocurrency or not.
If a bank want's they can simply deny supporting payments made for purchase of cryptocurrency.
Unless there is a crypto friendly bank we will keep facing such issues. That is why P2P is beneficial but the risks of P2P are always there.

But the problem is that every day the banking system has to perform millions of transactions and if you do not have any notes in the transaction, how can the bank detect that you are trading crypto? Like my country, banks also have a similar announcement that they will block accounts if they detect any accounts being used to buy or sell cryptocurrencies. But when I trade p2p on Binance we only make money transfers without any content, so how does the bank know I am trading crypto?

If you are trading crypto with P2P traders then it is hard for banks to detect that the money is being used to trade crypto.
But if you are sending or withdrawing money from an exchange then the banks can detect it based on the account details.

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Quote from: Bitcoin_people on September 20, 2023, 12:36:48 AM

Quote from: Obari on September 17, 2023, 06:34:07 PM

Now my question is this, do you think because bitcoin is still widely in use in countries where it has alot of restrictions makes it not banned or people who use it are breaking some sort of law?

I think a lot of bitcoin transactions are done clandestinely in countries that have made bitcoin illegal. Basically no one does bitcoin transactions publicly but people use bit cards for a privacy purpose where most of the countries governments get many benefits by using this bitcoin. I think the government of the country that has made bitcoin illegal also accepts bitcoin through transactions in different countries that use bitcoin. Although Bitcoin is legal in many countries but Bitcoin transactions in banks are not completed but banned, I could not say anything accurate about this. However, even in countries where Bitcoin is not legal, a large amount of Bitcoin is being used and various tasks are being done with Bitcoin. Bitcoins are being traded in secret despite breaking government laws, of course in countries where the government has made Bitcoin illegal, stealing and using Bitcoins is definitely against the law.

The topic appears complex, like the freedom vs. regulation discussion. One view is that adults are wise and restrained enough to make decisions. Another view is that society needs a structure to prevent harm.

Advertising's omnipresence must be considered. It affects us consciously and subconsciously. We believe adults should have the freedom to acquire information and make decisions, but persuasive ads have power over individuals.

Internet is a huge, unregulated area, as said. Stakeholders must ensure a safe environment despite poor content.

Personal freedom is highlighted by the China issues. Although its important not to violate an individual's autonomy, one must consider if theres a middle ground where freedom doesnt mean perfect liberty but doesnt mean extreme censorship either. The balance is delicate, and perhaps, thats the real challenge.

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Quote from: bayu7adi on September 19, 2023, 08:57:10 AM

Quote from: kro55 on September 18, 2023, 10:50:57 PM

But when I trade p2p on Binance we only make money transfers without any content, so how does the bank know I am trading crypto?

Banks won't inquire into or investigate the source of fiat currency entering your account, as long as the funds align logically with your occupation. Even if it's your side business, transactions on Binance should be secure because Binance doesn't casually disclose user information. Moreover, peer-to-peer (p2p) transactions on the BTC blockchain network are even more challenging to trace, as blockchain networks have a ledger distinct from banks.

As long as the amount you're transacting on Binance remains within reasonable limits and doesn't raise red flags for Binance or the government, you should be safe from bank scrutiny. That's the essence of Bitcoin's freedom, where there is no interference from any third party when p2p transactions occur.

That's true, I have been involved with bitcoin for nearly 10 years now and there has been a lot of money coming in and out of exchanges all through this time and banks never asked me a single thing about it. Sometimes it was huge amount of money, sometimes it was tiny, and the tiny ones not getting any red flag is understandable but even the huge ones didn't get any attention.

It's all about the fact that you are getting something that would be reasonable and not something illogical. If you have been making one thousand dollars per month for 10 years, and suddenly one day there is 1 million dollars transaction into your account, of course that would raise some red flags and you will not be able to explain what it is.

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Quote from: Obari on September 17, 2023, 06:34:07 PM

Now my question is this, do you think because bitcoin is still widely in use in countries where it has alot of restrictions makes it not banned or people who use it are breaking some sort of law?

I think a lot of bitcoin transactions are done clandestinely in countries that have made bitcoin illegal. Basically no one does bitcoin transactions publicly but people use bit cards for a privacy purpose where most of the countries governments get many benefits by using this bitcoin. I think the government of the country that has made bitcoin illegal also accepts bitcoin through transactions in different countries that use bitcoin. Although Bitcoin is legal in many countries but Bitcoin transactions in banks are not completed but banned, I could not say anything accurate about this. However, even in countries where Bitcoin is not legal, a large amount of Bitcoin is being used and various tasks are being done with Bitcoin. Bitcoins are being traded in secret despite breaking government laws, of course in countries where the government has made Bitcoin illegal, stealing and using Bitcoins is definitely against the law.

kro55

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Quote from: bayu7adi on September 19, 2023, 08:57:10 AM

Quote from: kro55 on September 18, 2023, 10:50:57 PM

But when I trade p2p on Binance we only make money transfers without any content, so how does the bank know I am trading crypto?

Banks won't inquire into or investigate the source of fiat currency entering your account, as long as the funds align logically with your occupation. Even if it's your side business, transactions on Binance should be secure because Binance doesn't casually disclose user information. Moreover, peer-to-peer (p2p) transactions on the BTC blockchain network are even more challenging to trace, as blockchain networks have a ledger distinct from banks.

As long as the amount you're transacting on Binance remains within reasonable limits and doesn't raise red flags for Binance or the government, you should be safe from bank scrutiny. That's the essence of Bitcoin's freedom, where there is no interference from any third party when p2p transactions occur.

An important note for us, we should not trade with unusually large amounts of money, it will get us noticed by Binance as well as banks. If you want to cash out a large amount of money, it is best to divide it into small parts and make small transactions many times, so no one will know what we are doing and will not be noticed by banks. That is also one of the points for me to dare to assert that the government cannot ban us from participating in bitcoin even if there is an additional ban.

ingiltere

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There may be different practices in each country. In some countries, the use of Bitcoin is completely prohibited, in some countries it's prohibited to use it only while shopping, but trading is free. Some countries take stricter measures, some are more flexible. Some governments think it's right to ban them altogether because they don't have compatible tax laws. Others try to control trade without hindering it. So what you are so surprised about is actually quite normal. It may vary from country to country, culture and economy.

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Quote from: Obari on September 17, 2023, 06:34:07 PM

I might not have gotten the right caption for this post because I think I will do my best to explain it here.

I've seen several threads talking about bitcoin not been banned in their country but yet they're not allowed to make any bitcoin related transactions through their local banks and this has really kept me puzzled lately about how people think because they still use bitcoin despite it's restrictions in their country makes it seem is not banned.

Now my question is this, do you think because bitcoin is still widely in use in countries where it has alot of restrictions makes it not banned or people who use it are breaking some sort of law?

When the government or the central bank announce that the use of Bitcoin is ban then it is banned no matter how many people are using Bitcoin. They are doing illegal trades since the government restrict the use of it.

Quote from: Obari on September 17, 2023, 06:34:07 PM

In my country, there are strict rules against local banks not getting involved in cryptocurrency transactions which simply means that the government has banned all cryptocurrency transactions though local banks but yet people still think bitcoin isn't banned.

So do you also agree that bitcoin can be said not be banned despite ban on local banks not getting involved with it?

Please let's discuss as I would really want to hear the opinions of others about this.

It is not about what the people think, in a legal authority, it is what the government implement. Government maybe relax in implementing the restriction but in a case where the government label the use of Bitcoin is illegal, then anyone using Bitcoin can be apprehended.

The government cannot stop an individual in doing illegal things but the authority have the right to capture anyone violating the law. With that, I do not agree that Bitcoin can be said not banned when the authority banned it.

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Quote from: Renampun on September 19, 2023, 04:00:33 PM

Quote from: Obari on September 17, 2023, 06:34:07 PM

...

So do you also agree that bitcoin can be said not be banned despite ban on local banks not getting involved with it?

Please let's discuss as I would really want to hear the opinions of others about this.

Each country has different rules, my country is one that strictly monitors Bitcoin and does not allow transactions with Bitcoin but allows Bitcoin trading because our country's government classifies Bitcoin as a commodity. Regarding the government's power over its citizens, I don't think it is strong anymore, my country is a democracy, maybe the government has some hard rules that must not be broken, but will the citizens obey them when they feel that what they are doing is right!
As long as you don't harm other people and don't commit criminal transactions via Bitcoin then you don't do anything wrong, remember that Bitcoin is never wrong, the behavior of negative people who use it is wrong (such as corruptors or illegal traders).

It's obvious that not every countries that restricted bitcoin transaction, but I know quite that none of the countries that have accepted bitcoin as a legal tender, they can allow bitcoin trading and other bitcoin transactions based on personal things of bitcoin, so right now, what i know concerning bitcoin Is that bitcoin have not be implemented in any government law makers, they only allow bitcoin transaction base on p2p but it has not really been generally been pronounced as a legal tender as per say.

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Quote from: Obari on September 17, 2023, 06:34:07 PM

...

So do you also agree that bitcoin can be said not be banned despite ban on local banks not getting involved with it?

Please let's discuss as I would really want to hear the opinions of others about this.

Each country has different rules, my country is one that strictly monitors Bitcoin and does not allow transactions with Bitcoin but allows Bitcoin trading because our country's government classifies Bitcoin as a commodity. Regarding the government's power over its citizens, I don't think it is strong anymore, my country is a democracy, maybe the government has some hard rules that must not be broken, but will the citizens obey them when they feel that what they are doing is right!
As long as you don't harm other people and don't commit criminal transactions via Bitcoin then you don't do anything wrong, remember that Bitcoin is never wrong, the behavior of negative people who use it is wrong (such as corruptors or illegal traders).

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