What will you do if your country did not legalize cryptocurrency? - page 4.

Adams0001

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Quote from: Honyek on September 26, 2023, 11:22:31 AM

Bitcoin is a very useful thing to many people. It has provided very good opportunities, job opportunity, trading opportunity and lots more for many people to earn money for their essentials of life. Bitcoin halving is fast approaching, giving many people hope of investment, and making reasonable profit at the end. Yet in some countries it is completely illegal. What will you do if you are a fan of bitcoin but your country did not legalize cryptocurrency?

In my country, Bitcoin is illegal but we still buy it We use P2P to buy Bitcoin and sell it through it Many countries ban Bitcoin because it is centralized and no government has control over it, which is why they make it illegal Many people will not put money in banks to save again, and the government will not have much revenue, because they have already found a profitable investment, I don't like putting money in the bank, I prefer to invest it so that I can make a large profit if the price rises Investing in Bitcoin gives you many accomplishments and is the best investment you will ever make, the government is aware that people are still using cryptocurrency, but they can't do anything about it because it is not under their jurisdiction So even if your country prohibits cryptocurrency, you will be able to obtain it.

CageMabok

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Quote from: bocyaj on September 28, 2023, 04:08:56 PM

The legalisation of bitcoin is just like the drama made by the government on the people,if you check the minister assets.Surely all the minister of your country will have their money in the bitcoin.Bitcoin was act as the asset now,most of the government official are get into the bitcoin at the early stage.Only the government had never legalise or say it as the neutral one.The bitcoin was the illegal one in the China,So you think all the people of the China had not have their money in the bitcoin.It’s not the real fact,many people have funds in the bitcoin.

This could very likely happen among government officials, because when they already know about Bitcoin and they try to explore it slowly to learn everything related to Bitcoin. It is very possible that they put their money in Bitcoin without telling many people about it and even they themselves told their people that Bitcoin was not liked by the government, even though they all really liked it even though the government did not make special rules so that people could also be encouraged to likes Bitcoin and puts his money into Bitcoin.

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Quote from: Inwestour on September 29, 2023, 09:58:54 AM

Quote from: Dr.Osh on September 29, 2023, 06:42:30 AM

quite reasonable. The government may close the activities of companies related to crypto so that we cannot access it. I think that it is sites like exchanges and others. However, we can still carry out P2P transactions in various crypto communities on social media. We just need to find a reliable escrow for that. Even though our movement is very limited, I think personally someone can still carry out crypto transactions when the country bans crypto.
However, it may take some effort to make money from crypto through trading, or anything like that, as the government will most likely ban such sites.

If breaking the laws can lead to serious consequences, then it is better to find ways in which you will not break the law, for example, go to another country to do this, where it will not be illegal, for a while. Workarounds can always be found, the main thing is to be confident in who you will make these transactions with.

My guess is that at some point governments will push CBDC and try to show how much better it is than Bitcoin, maybe it will work at first, but eventually the advantage of Bitcoin will be too obvious to deny.

Most likely there will be countries that do not legalize cryptocurrencies, there will always be those who are against it.

You do have a point about the risk and danger it brings to those who need to break the law or workaround it. However, your suggestion of them going to another country is not always possible for everyone, especially if you think about how impractical it is with how much money an individual needs to move country. Cryptocurrency brings additional income to a lot of us and to some it is their main source of everyday income and they heavily rely on it despite it being illegal on their countries so despite the danger and risk they have to face we cannot blame or criticize them for it.

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Quote from: Dr.Osh on September 29, 2023, 06:42:30 AM

Quote from: Nrcewker on September 26, 2023, 11:28:01 AM

Quote from: Honyek on September 26, 2023, 11:22:31 AM

Bitcoin is a very useful thing to many people. It has provided very good opportunities, job opportunity, trading opportunity and lots more for many people to earn money for their essentials of life. Bitcoin halving is fast approaching, giving many people hope of investment, and making reasonable profit at the end. Yet in some countries it is completely illegal. What will you do if you are a fan of bitcoin and your country did not legalize cryptocurrency?

The main reason for government not accepting the Bitcoins is the decentralised nature of the coin. Due to this the government cannot control the Bitcoins or neither can impose tax on it. Hence they not making Bitcoins legal. If you are a crypto user, and government is setting up restrictions for you, then you can directly to P2P transactions to buy or sell the coins. You need not have to rely on the exchanges on your country, and no one can know how many Bitcoins you are holding in your wallet.

quite reasonable. The government may close the activities of companies related to crypto so that we cannot access it. I think that it is sites like exchanges and others. However, we can still carry out P2P transactions in various crypto communities on social media. We just need to find a reliable escrow for that. Even though our movement is very limited, I think personally someone can still carry out crypto transactions when the country bans crypto.
However, it may take some effort to make money from crypto through trading, or anything like that, as the government will most likely ban such sites.

Governments can and may clamp down on centralized crypto-related activities. Yet, as you rightly pointed out, P2P transactions remain a beacon of hope. Remember, its the decentralized nature of crypto that gives it its power. Your reliance on social media communities and escrows is understandable, but it comes with its own set of challenges.

Its good to know you recognize the need for a trustworthy escrow, but how can you ensure their reliability? How do you guarantee that the escrow you choose wont disappear one fine day? And if we all turn to these communities, wont it just signal to governments where to look next? The real pseudo-problem here is not about the banning, but about how we adapt our voices and behavior to make sure we're staying one step ahead. Trading is one thing, but ensuring the safety of your assets is another. Always be cautious.

Inwestour

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Quote from: Dr.Osh on September 29, 2023, 06:42:30 AM

quite reasonable. The government may close the activities of companies related to crypto so that we cannot access it. I think that it is sites like exchanges and others. However, we can still carry out P2P transactions in various crypto communities on social media. We just need to find a reliable escrow for that. Even though our movement is very limited, I think personally someone can still carry out crypto transactions when the country bans crypto.
However, it may take some effort to make money from crypto through trading, or anything like that, as the government will most likely ban such sites.

If breaking the laws can lead to serious consequences, then it is better to find ways in which you will not break the law, for example, go to another country to do this, where it will not be illegal, for a while. Workarounds can always be found, the main thing is to be confident in who you will make these transactions with.

My guess is that at some point governments will push CBDC and try to show how much better it is than Bitcoin, maybe it will work at first, but eventually the advantage of Bitcoin will be too obvious to deny.

Most likely there will be countries that do not legalize cryptocurrencies, there will always be those who are against it.

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Quote from: Honyek on September 26, 2023, 11:22:31 AM

Bitcoin is a very useful thing to many people. It has provided very good opportunities, job opportunity, trading opportunity and lots more for many people to earn money for their essentials of life. Bitcoin halving is fast approaching, giving many people hope of investment, and making reasonable profit at the end. Yet in some countries it is completely illegal. What will you do if you are a fan of bitcoin but your country did not legalize cryptocurrency?

Most people have the same opinion about Bitcoin that it is the best cryptocurrency to make a profit and to invest.It is a fact that cryptocurrency does not have legal status in our country.Cryptocurrency seems to be difficult to get legal status in our country,ecause our government is not in favor of legalizing cryptocurrency.

We are definitely fans of bitcoin and we have full confidence in investing in bitcoin that it can give us good returns for our future.Exchanges are still operating in our country but the government can ban these exchanges at any time, in which case we are keeping our long-term investments in our personal wallets so that our bitcoins are safe after any exchange is banned.

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Quote from: Honyek on September 26, 2023, 11:22:31 AM

Bitcoin is a very useful thing to many people. It has provided very good opportunities, job opportunity, trading opportunity and lots more for many people to earn money for their essentials of life. Bitcoin halving is fast approaching, giving many people hope of investment, and making reasonable profit at the end. Yet in some countries it is completely illegal. What will you do if you are a fan of bitcoin but your country did not legalize cryptocurrency?

Bitcoin is decentralized and even if the government doesn't legalize it we can still use it. All we have to do is find a P2P connection that is genuine.
I know it might sound like going against the government but if you believe in something then you should do anything to achieve it.
I trust in bitcoin and holding bitcoin is not a crime. It's just that we shouldn't use it for the wrong purpose.

Dr.Bitcoin_Strange

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The government can place a ban on Bitcoin and block every easy step to invest in it, but definitely other decentralized means of buying and selling Bitcoin would still be there. Since Bitcoin is not a centralized asset, nor is it a physical asset, the government cannot totally prevent anyone from buying it unless it's someone who is not very exposed to the technology. Since Bitcoin is not a physical asset, I could buy it through any decentralized means and store it in my wallet. I could even decide to destroy my wallet, but I would keep my private key safe in a place no one could get access to unless it was just me. Perhaps if the government of my country bans Bitcoin, it wouldn't stop me from buying it; there are still other decentralized exchanges out there that will still be fully operational, and I can buy from there. Already, I have a few business friends in some countries that allow Bitcoin, and I also have a few of my relatives that are outside my country, and the country they are in still allows Bitcoin, so if by chance Bitcoin gets banned by the government in my country, there are still many ways to acquire it.

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Quote from: Nrcewker on September 26, 2023, 11:28:01 AM

Quote from: Honyek on September 26, 2023, 11:22:31 AM

Bitcoin is a very useful thing to many people. It has provided very good opportunities, job opportunity, trading opportunity and lots more for many people to earn money for their essentials of life. Bitcoin halving is fast approaching, giving many people hope of investment, and making reasonable profit at the end. Yet in some countries it is completely illegal. What will you do if you are a fan of bitcoin and your country did not legalize cryptocurrency?

The main reason for government not accepting the Bitcoins is the decentralised nature of the coin. Due to this the government cannot control the Bitcoins or neither can impose tax on it. Hence they not making Bitcoins legal. If you are a crypto user, and government is setting up restrictions for you, then you can directly to P2P transactions to buy or sell the coins. You need not have to rely on the exchanges on your country, and no one can know how many Bitcoins you are holding in your wallet.

quite reasonable. The government may close the activities of companies related to crypto so that we cannot access it. I think that it is sites like exchanges and others. However, we can still carry out P2P transactions in various crypto communities on social media. We just need to find a reliable escrow for that. Even though our movement is very limited, I think personally someone can still carry out crypto transactions when the country bans crypto.
However, it may take some effort to make money from crypto through trading, or anything like that, as the government will most likely ban such sites.

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Quote from: oktana on September 28, 2023, 06:52:09 PM

Quote from: Honyek on September 26, 2023, 11:22:31 AM

Bitcoin is a very useful thing to many people. It has provided very good opportunities, job opportunity, trading opportunity and lots more for many people to earn money for their essentials of life. Bitcoin halving is fast approaching, giving many people hope of investment, and making reasonable profit at the end. Yet in some countries it is completely illegal. What will you do if you are a fan of bitcoin but your country did not legalize cryptocurrency?

What can you do? Nothing. If your country doesn't want to legalize Bitcoin, it's most likely they haven't seen the need for it yet, or maybe it won't favor them (probably expose them or sth). Because last I checked, any country will do anything as long as it favors them. Also, it is a matter of time... from 1 country to 2, and the numbers will keep increasing. Also, some of these countries haven't legalized because they haven't been influenced to do so... sometimes they want another country to take the step while they follow (remember the COVID-19 vaccine?).

Well, there is nothing we can do to change that but we can still invest in bitcoin even if we are from countries that are banning bitcoin. I have a few friends from countries like China or Bangladesh, countries that are banning bitcoin, but they still quietly invest in bitcoin and have almost no difficulty in holding or cashing out every time they need money.
I agree with you that it is only a matter of time before those governments accept bitcoin, they cannot resist the technology of the future, they cannot be eccentric with the rest of the world. And investors from countries that ban bitcoin just need to wait quietly without doing anything.

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I will do nothing about it, I mean what do you expect me to do? I can only change my country if the government decide to hunt down crypto investors and adopters, I believe it's never going to happen, it's not a crime to have crypto but it can be a crime to spend them in the open or accept them in a country that says no to crypto.

I have no problem living in a country that failed to legalize crypto, I will be spending them online anyway, even if most countries start accepting crypto as means of payment, it will take a very long time for others to start accepting too, Fiat will still be the best option for many.

I am someone who likes doing my shopping online, if a store accepts crypto payment it's good and if it's Fiat it's still all good, banning crypto shouldn't be an excuse for me to be out of crypto, I mean no one knows I have crypto, only a few family members and friends, but the good news is crypto isn't ban in my country, so I am in good hands.

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Quote from: Questat on September 28, 2023, 06:30:44 AM

Quote from: Ayers on September 27, 2023, 10:25:10 PM

I think the fact that governments accept bitcoin is something we should be surprised by instead of being surprised when they ban it. I also believe that Satoshi could have predicted this because, from the beginning when he created bitcoin with its decentralized nature, it was completely against what the government wanted. And Satoshi created bitcoin for us, not for the government, so I think it doesn't matter too much whether the government accepts it or not. Because even if they ban it, we still use it and it keeps getting stronger and stronger. Banning bitcoin is almost impossible and it is easy to see that many governments that once banned bitcoin have now accepted it.

As long as the government doesn't have control of all online transactions, we can still use Bitcoin and other cryptocurrencies.
In fact, many countries don't legalize crypto but wondering why many people are still active and continue trading. Well, good thanks that crypto is not banned in my country even though it was not legalized yet as we still have the chance to own crypto. Legalization is not possible in any country when leaders don't just think about themselves but also the benefits of their people. Greediness and lack of knowledge are some reasons why some countries ban and do not legalize crypto.

I don't think governments lack knowledge about bitcoin, they certainly researched and discussed a lot before making the decision to ban it. They are the leaders of a country, they have many agencies, departments, and advisors in all fields, so it is inaccurate to say they lack understanding about bitcoin. Simply because they fear it will affect their power, bitcoin is decentralized and they cannot control it. I think that's the only reason without a second reason for them to hate it.

But anyway, that is no longer a problem because as said and we have also seen, even if the government bans it, people still silently use and invest in it. Even on this forum, there are many members from countries that ban bitcoin.

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Quote from: Honyek on September 26, 2023, 11:22:31 AM

Bitcoin is a very useful thing to many people. It has provided very good opportunities, job opportunity, trading opportunity and lots more for many people to earn money for their essentials of life. Bitcoin halving is fast approaching, giving many people hope of investment, and making reasonable profit at the end. Yet in some countries it is completely illegal. What will you do if you are a fan of bitcoin but your country did not legalize cryptocurrency?

What can you do? Nothing. If your country doesn't want to legalize Bitcoin, it's most likely they haven't seen the need for it yet, or maybe it won't favor them (probably expose them or sth). Because last I checked, any country will do anything as long as it favors them. Also, it is a matter of time... from 1 country to 2, and the numbers will keep increasing. Also, some of these countries haven't legalized because they haven't been influenced to do so... sometimes they want another country to take the step while they follow (remember the COVID-19 vaccine?).

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Flip burgers for a living I suppose lol.

But not really, career-wise I got a lot of experience under my belt to land management roles in most companies from where I live. So it's not like I don't have any choice when it comes to employment. Given that I could also go for other investment ventures out there like stocks and bonds, knowing how bitcoin and the crypto market works serves well to allow me to stay afloat in other investment ventures for a long while, so even if they do ban crypto here I'd still be left with ample choices to choose from.

I doubt that they'd ban it though, Philippines is one of the biggest crypto countries out there, the tax man here is living happy and rent-free from all the P2P and VAT transactions we make, banning it for the sake of banning crypto wouldn't spell well for the economy.

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That's okay, I don't really need government approval to use Bitcoin. If they don't legalize it that would be their loss. Bitcoin trading is free but using Bitcoin in goods and services is banned here. This doesn't affect the end user much, those who want to make purchases still can use Bitcoin. It just remains unrecorded. If governments don't benefit from Bitcoin, you shouldn't expect them to look favorably on it.

bocyaj

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The legalisation of bitcoin is just like the drama made by the government on the people,if you check the minister assets.Surely all the minister of your country will have their money in the bitcoin.Bitcoin was act as the asset now,most of the government official are get into the bitcoin at the early stage.Only the government had never legalise or say it as the neutral one.The bitcoin was the illegal one in the China,So you think all the people of the China had not have their money in the bitcoin.It’s not the real fact,many people have funds in the bitcoin.

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Not legalizing bitcoin does not mean that you will also be penalize once you are caught investing in bitcoin. The country is not just supporting it but I don't think the government will come to control its people as to what they are going to invest. But it will still be best if you invest bitcoin with caution. That is to protect yourself in the future especially if your country suddenly adopt rules and regulations concerning bitcoin.

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Quote from: Honyek on September 26, 2023, 11:22:31 AM

Bitcoin is a very useful thing to many people. It has provided very good opportunities, job opportunity, trading opportunity and lots more for many people to earn money for their essentials of life. Bitcoin halving is fast approaching, giving many people hope of investment, and making reasonable profit at the end. Yet in some countries it is completely illegal. What will you do if you are a fan of bitcoin but your country did not legalize cryptocurrency?

I suppose that it's impossible to be a fan of BTC... It's just like being the fan of money... I think that everyone likes money... Cheesy

As for legal status, I suppose that btc legal status is really a gambling, and it doesn't matter which country you live in... All the countries with no legal restrictions in cryptoindustry can make cryptohodlers experience much tougher troubles than countries with many restrictions... Especially when it comes to recognition of anonymised cryptoassets as property.

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Quote from: Honyek on September 26, 2023, 11:22:31 AM

Bitcoin is a very useful thing to many people. It has provided very good opportunities, job opportunity, trading opportunity and lots more for many people to earn money for their essentials of life. Bitcoin halving is fast approaching, giving many people hope of investment, and making reasonable profit at the end. Yet in some countries it is completely illegal. What will you do if you are a fan of bitcoin but your country did not legalize cryptocurrency?

Bitcoin is not recognized in my country, and I don't really have any problems with that. I can easily buy and sell cryptocurrencies using centralized exchanges such as Binance, I have my account verified there and they never refused to provide their services to me. I have never been asked by authorities if I have any involvement with Bitcoin or cryptocurrencies nor has my bank ever frozen my funds and asked for extra documentation to prove that I'm not involved or anything.

So, a person will not face a lot of problems just because Bitcoin or cryptocurrencies are not legal in their country but they can face problems if they are banned within the country because that will create issues for them, the applications supporting cryptocurrencies such as exchanges and stuff will not be accessible and they might also get in trouble if they are found being involved in buying or selling Bitcoin or cryptocurrencies.

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Quote from: Honyek on September 26, 2023, 11:22:31 AM

Bitcoin is a very useful thing to many people. It has provided very good opportunities, job opportunity, trading opportunity and lots more for many people to earn money for their essentials of life. Bitcoin halving is fast approaching, giving many people hope of investment, and making reasonable profit at the end. Yet in some countries it is completely illegal. What will you do if you are a fan of bitcoin but your country did not legalize cryptocurrency?

Most countries make no bad decisions like others who totally banned bitcoins and cryptocurrency in totality, they just being neutral taking some advantage and getting some taxes from the local exchanges and other crypto mining facilities. I'm totally fine with that because there are no tight regulations and I'm not worried that I'm gonna be arrested someday just by owning some bitcoins and transacting it in my country. because it really depends on how tight the regulations are, I don't really take the risk if owning BTC will makes me uncomfortable and makes me a wanted person, I rather wait for another time when they gonna change the rules again back to normal.

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