Topic: Some Countries living behind their century, taking a back sit on BTC evolution. - page 2. (Read 529 times)

Sir you are a brilliant human, if everyone is living fine in a country, the government won't be happy about it, the more people are struggling and some are turning into poor people, the more the government will be happy.

I am from such country where the politicians don't care about the poor, all benefits coming from them are flowing into their own people, politicians like themselves, I can remember when a presidential candidate talked about bringing blockchain and bitcoin adoption to the country, though it was a promise, but I am very surprised that a 50+ years old man knew about blockchain perfectly.

But they never let him into that presidential sit, if truly he could do this it will help the country massively, but like you've said, the government won't be happy if people find a break through, it's why how to make money was never thought in school.

Yes, more awareness is needed to know the benefits of crypto for them so they can start using crypto as an investment or a means of payment. And that requires a unique person or group to start introducing crypto to the people of these countries.

But it's best to let them decide how to use crypto and not force them to use it. Maybe the time is not yet right to introduce crypto in these countries, but I think some people already know Bitcoin even though they are still hiding it from others.

They also have to see the crypto status in their country so that when they use it, they will not experience any problems. And if it remains banned, people may not want to learn about crypto or even use it. So this also requires awareness from each government to allow its citizens to use crypto. So let's just wait for news from each country and hopefully, each country's government can allow its citizens to use crypto.

Its odd that certain countries dont grasp this financial revolution message. In countries with unreliable banking systems, cryptocurrencies could be game-changers. Education is a must. In many locations, "Bitcoin" still makes people stare at each other (not positively). More knowledge helps people make healthy decisions. For those unfamiliar with crypto, it can like reading a philosophy book. You must simplify. Its not enough to offer crypto. Easy to understand is also required. There are many perplexing terms, such as "blockchain," "mining," and "wallets." Very easy to get lost.

It makes no sense for a single person on the government to not understand bitcoin and take decisions based on their misconceptions about it, what I mean is that the politicians of those countries know very well what bitcoin is about and they want none of it, and this is because they understand very well bitcoin gives back the power of money to the people, a power politicians stole long ago for their own benefit, and since they want to keep that power they prefer to ban bitcoin or at least to heavily restrict it.

Doesn't the government understand? It's funny, though. There is a great awareness of what Bitcoin is and what it represents. They just can’t do anything about it, since blockchain technology is beyond the current time and cannot be controlled by government agencies.
This will continue until a tool appears that can calculate the beneficiaries of transactions. It may already exist, but it is incredibly expensive and its use is irrational. Don’t think that at the very top there are complete idiots who don’t understand anything. Everything is fine with this.

I read somewhere here about Bangladesh and Algeria, both of them ban Bitcoin, but it does not seem that anyone has been imprisoned because of Bitcoin, and we can say that this ban is closer because taxes are zero and you do not need to report them to the authorities, and here I do not encourage doing any illegal work, but I say: Do not spend coins until they are legal.

Countries around the world will adopt Bitcoin after it succeeds, which means we have to wait a little.

I'm pretty sure people of these nations would be aware of it, it's hard to not hear of it as long as you have TV and Internet.

In addition, it's usually the backward nations that thwart any new evolution, but they eventually keep up when they see other developed nation's positive outlook/regulations, regulations which developed nations are working to provide however not have been successful so far in creating that perfect one, once that happens, these developing nations will also adopt and possibly derive their own regulation from what these nations do.

I think it's not the restrictions that are the main obstacle, but the main thing is that they don't fully understand and are still afraid of market volatility, in this case BTC, in the development of digital financial technology. Now. Here what must be explained about the risks and if they are ready for that is a new story apart from the advantages that exist in BTC itself as a digital currency pioneer at this time.

You are right, actually, the authorities in our country have no knowledge about crypto, which isn't shocking. But the most famous and trusted influencer in our country has confirmed that when he started a campaign to unban crypto in the country and also try to make legal laws for the ones who wanted to mine BTC and even he was the first to make a hydra power mining platform for BTC. His name is Waqar zaka. The point is, in his videos, he has confessed that the authorities to which he has to agree on accepting the BTC or crypto sphere. Don't know anything about it?

He said they are old people sitting on chairs doing the work, without noticing the current trend that other countries or the modern world is adopting. All they care about is their 9 to 5 jobs. And I really respect their jobs and the work they are doing but these guys really need a break and they should take a glance at the current trends how the world is going and what adoptions they are making to be in the race. But no, if a thing is not understandable by our authorities then that thing is banned and can not be legalized. That's the sad but bitter truth.

I hope one day BTC will become legal and the ban will be eliminated from it in mine and other aforementioned countries.

PS: why did you share a link in the middle of a post, as it seems not relevant to your topic!

Rather than "more awareness about the benefits of trading with cryptocurrencies", it should plainly be about Bitcoin education for a start. I'm convinced that many people, leaders included, are not into Bitcoin simply because they haven't understood it well enough. The more you understand Bitcoin, the more you want it. Although when it comes to decisions of governments, there will always be a good amount of power play. It's possible the elite bankers and financers could prevail over a pro-Bitcoin president. But it will only be a matter of time before the leadership could no longer resist the demand of the people and be friendly toward Bitcoin.

The basic concept of Blockchain technology is also utilized by China by creating its own Blockchain and banning crypto.
So there is no need to adopt Bitcoin.

Bitcoin itself is indeed the only solution for a country's economic growth, there are many other things that can build a country's economy.

Bitcoin is an anti-inflationary digital currency and certainly provides several advantages and has several disadvantages.
Countries that have fully adopted Bitcoin such as El Salvador already have their own research and already know what to do with Bitcoin adoption.

It is not easy to start bitcoin adoption for a country, as there is a lot to consider.

Perhaps it's their form of government not allowing their population to see the beauty of Bitcoin. For example, Bangladesh considers crypto currency as illegal, so how can the people be involved in crypto if their government is not allowing them?

I don't think though that we need to work on it, even in huge country such as India wherein the people are fighting for it and yet they can't do anything as their government opposes it.

https://www.indiatoday.in/cryptocurrency/story/rbi-gov-calls-for-an-outright-ban-on-cryptocurrency-as-union-budget-2023-approaches-2322146-2023-01-16

Bitcoin is not the only solution for a country's growth.  In fact, i do even think that at the current state of Bitcoin, it will only do little in terms of economic help. Using blockchain technology does not necessarily mean integrating Bitcoin economics into the country.  A government can use the blockchain technology concept but at the same time restrict the bitcoin market.

Remember adopting Bitcoin is not a live-and-die situation where one economy's life relies on the adoption of Bitcoin.  So I believe one can adopt the Bitcoin technology while pushing away its economic industry.

The countries mentioned may not be taking a back seat from their perspective on BTC, but to refrain from following the crowd of countries who do, might be just the wisest thing to do. If the population is concentrated and the workforce rely on human capital to ensure it maintains a good nGDP annually, then the government would do everything including banning the adoption of all crypto related activities and some mobile features even just to prove a point.

You shouldn't also expect countries with less seriousness about tech advancement like these aforementioned countries, to jump into cryptocurrencies business now mostly as exchanges are under very strict regulators microscope for malpractices, hacks and laundering cases.

I don't want to get too political here, but this is a major problem with much of the eastern part of the globe.  I'm not saying the western part of the globe is necessarily better, but in many ways it is, and is much more progressive.  Progressive means progress and countries like China are anti-progression in many ways.  For example China has banned bitcoin, but created the "digital Yuan".  This shows that the government of China understands the value of cryptocurrency, but they don't like bitcoin because it takes control away from them. The digital Yuan is anything but decentralized.

I do have hope they will progress as time goes on.

That's true to some extent because most of the people really wanted an option in which they want to pay tax instead of choosing an option in which they don't have to pay tax but have to use the BTC or perform related transactions in p2p with full care. Due to the ban on BTC by the government. And I am one of the people who prefer to choose the first option. Because the tax will definitely cut some of the money we have in BTC or in any other crypto token still we will be free to talk about it and will be free to openly say anything about cryptocurrency and its relevant technologies.

Even, I have seen, many bloggers being discouraged from making blogs on Crypto because the last time when they banned crypto they also banned more than 1400 websites that are directly related to crypto but most of those websites were performing exchanging feature. But the point remains the same, the bans should be lifted and the acceptance of tax is bearable but not the fear of ban from the country.

In the country where there is restrictions on bitcoin investment people cannot get awareness because the leader of a countries do not allow such type of seminars and programme that are planned for the purpose of bitcoin Awareness.

Every nation know very well about bitcoin investment but they are not ready to allow this because they think that this will effect the economy of their nations.
There may be another reason to not accept bitcoin but we don't know what the reason, we only can realize that they know everything about bitcoin but due to some reason they have banned it.

Most of those countries have awareness about the benefits of trading but a few of them also know the drawbacks of crypto-currencies. I don't think that awareness about crypto-currencies will solve the problem of those countries because we know that most of the crypto-currencies have turned out as scams. We should promote awareness regarding Bitcoin not any other crypto-currencies because only Bitcoin can solve the problems of those countries not other crypto-currencies.

Those countries that you mentioned won't be accepting Bitcoin because of their corrupt politicians because they somehow act that Bitcoin is harmful and they create fake stories to continue the ban on Bitcoin and its usage. Those countries will only adopt Bitcoin if the ones who control the main power of those countries allow Bitcoin to be used as a form of trading, and it will take a lot of time to see something like that. There are many other countries that aren't in favor of Bitcoin because of their corrupt system and they won't be adopting it any soon.

What in particular are the challenges with these countries you have mentioned, is it that they have the least numbers of bitcoin adoption globally or that they have banned bitcoin and cryptocurrency in their country, sometimes we only look at the success and achievements that bitcoin had within the it first fourteenth year, we cannot expect everyone to have been used to it that way or every to allow their government adopt it use like that without clearing their doubts about bitcoin first, there are also countries where bitcoin is made a legal digital currency the people were allowed to use aside El-Savador and Central African Republic where bitcoin is made a legal tender.

Well you can't expect every country would have a good economy, facilitation, internet connection, etc because each country has a different president, culture and resources. So if you live in where you can enjoy internet, you need to be happy and grateful because not everyone has a same situation like you.

Even they're have money and internet connection, the problem isn't they should invest in Bitcoin, but how to survive and learn about technology.