What will you do if your country did not legalize cryptocurrency? - page 5.

Pandu Geddon

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Quote from: Xxmodded on September 28, 2023, 07:48:40 AM

More than 10 years above when Bitcoin releasing to the public still have fewest countries allowed bitcoin as legal payment transaction, but its not give negative side for bitcoin and exactly success make new all time high price last two years with several countries support to make bitcoin as legal currency transaction. There are not complicated problem when have any countries not legal bitcoin as payment transaction but they have take advantage from bitcoin or altcoin transaction trough local exchange currency by adapting with taxes payment.
To see Bitcoin raise to higher price we not needed urgent to see bitcoin as legal payment currency, we found many time China banned bitcoin in their country but can't give bad reputation for bitcoin leaving by their investor because bitcoin can't controlling by one country only.

as long as people can have Bitcoin to store and there are no regulations from the government to imprison people with Bitcoin ownership. the impact will not be large on the market price situation. Indeed, so far we can see that only a few countries accept Bitcoin as a means of payment or transaction. but most of them do not prohibit Bitcoin ownership. Some bans may be related to crypto or mining projects in their countries that reportedly use too many resources.
today, more people are holding Bitcoin for profit. but if all countries start legalizing Bitcoin as a means of payment, everyone will certainly be happy because the revolution that Bitcoin has brought as a decentralized currency is finally underway.

Xxmodded

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More than 10 years above when Bitcoin releasing to the public still have fewest countries allowed bitcoin as legal payment transaction, but its not give negative side for bitcoin and exactly success make new all time high price last two years with several countries support to make bitcoin as legal currency transaction. There are not complicated problem when have any countries not legal bitcoin as payment transaction but they have take advantage from bitcoin or altcoin transaction trough local exchange currency by adapting with taxes payment.
To see Bitcoin raise to higher price we not needed urgent to see bitcoin as legal payment currency, we found many time China banned bitcoin in their country but can't give bad reputation for bitcoin leaving by their investor because bitcoin can't controlling by one country only.

Assface16678

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The truth is, bitcoin being fully legalised in a country is far from happening. There are many factors or things to consider before it becomes legal and is used as a currency, just like what we use to date. Number one factor is that the government has no power over it; in fact, no one's price will change depending on whether they are holders, traders, or miners that the government can't control. Second, bitcoin volatility requires a lot of study on how they will use bitcoin as a currency to pay on a daily basis, among other things. But even if bitcoin is not legalised, we can still buy and trade bitcoin with 3rd parties' exchange platforms, and as time passes, bitcoin is slowly being used as a currency. Many banks offer crypto services, establishments, and businesses that support crypto currency. So even if it is too far yet, it is possible that crypto currency will be the future currency.

Woodie

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

Bitcoin is a very useful thing to many people.

Very useful indeed!
And the usefulness that crypto has to offer is as follows:

Allows us to enjoy the financial freedom of being our own banks and live maintenance-free and keep all profits realized fo holding
Skipping the hurdle of KYC when it comes to paying for good and services
With crypto middlemen are cut off which means cheaper goods and services are available

The list is endless....

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

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 started off without regulation and most of our governments ignored it thinking it would die a natural death...

Over 10 years have gone by and now it's a force to reckon with and the government now wants to play a part by regulating it..hell no, with or without regulation, the revolution will happen and it's team crypto all the way!![/list]

Benedictare

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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?

Since the government can't control or have full authority on cryptocurency and Bitcoin. The only way out is through P2P, you have to keep a very low profile on your transactions and the way you spend your money cause you will be mentioned and the government will want to know your source of income, you need to be carefull and know the people you introduce Bitcoin to and how to manage it in your country because if you are begin caught, you will be arrested and all your accounts will be blocked.The joy about Bitcoin is that it is decentralized digital currency all you have to do is electronical,computing and technological. It is not manual and so it is easy for you to be a Bitcoin holder, buyin, selling and investing also transactions and identities are hidden even your financial transactions ,not easily assessed by the governments so if not legalized in your country you can still continue your businesses.

albert0bsd

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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?

well there will always a side market with people to exchange goods and services, cost nothig to ask "Do you accept bitcoin?" but that would be the last option, also if you offer some service, you can also ask "Do you pay in bitcoin?"

At this point, who is willing to giveaway their coins? Last week i buy something with bitcoin here in the forum, but i've checking around my city and i don't see any bitcoin signal, that is really sad.

taufik123

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

-snip-
Greediness and lack of knowledge are some reasons why some countries ban and do not legalize crypto.

For example, China has banned Bitcoin and it's not really allowed.
That might fall into a more extreme category because China wants to control everything and must have access to all the privacy of its people.

Bitcoin is decentralized and China cannot enter the zone fully.
Those who try to use Bitcoin will be detected because all economic flows are monitored.
But who knows if users are smarter by using various ways to avoid detection?

But look at the surprising fact, the more it is banned, the more people use it.
China remains the largest crypto market in East Asia for transaction turnover and ranks fourth in the world.
This has been the case even as its government has outright banned its use in the country over the past few years.

Ptb73

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I will still be able to buy bitcoin for cash and store it in my decentralized wallet. No one will ever know that I am connected with bitcoin.

Questat

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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.

ultrloa

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Quote from: Fivestar4everMVP on September 28, 2023, 04:18:20 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 but your country did not legalize cryptocurrency?

There is nothing much you as a person can do if your country refuse to legalize bitcoin, all you can do is to depend on p2p.

I mean, you could earn your bitcoins from what ever means available to you, whether it be trading, investing, staking, whatever, but when you convert some of those bitcoins to cash(fiat) which is spendable in your country, you have to make use of p2p to sell those bitcoins..

It's the same thing we in Nigeria are doing today, since bitcoin has not yet officially legalized in the country, we depend on p2p to cash in on our bitcoins.

For now p2p will be the only solution regarding on that situation since we cannot do anything if there decision is done and they declare crypto as illegal asset. Maybe next time on next election day we should seek for innovative people that can possibly adopt bitcoin so that by their help we can freely use bitcoin on anywhere we want especially on big merchants on our country. For now its hard to disobey their order especially if they ban the access of crypto and for sure with this law I may stop using it since I don't want to violate the law of my country.

For now although we are not yet on legalization phase of crypto in our country but at least there are so many option to choose on where we can cashout our earned bitcoins.

Lucius

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Quote from: 3kpk3 on September 27, 2023, 10:42:07 AM

It's pretty simple op. VPNs! Don't use free VPNs. Instead, subscribe to a high quality paid VPN service which will help you stay anonymous online and dabble with all cryptocurrencies without any issues.

VPNs only provide the illusion of online anonymity, whether they are free or require a subscription, the fact is that they keep logs and will give away your real IP address if they receive a request from the authorities.

Quote from: 3kpk3 on September 27, 2023, 10:42:07 AM

TOR is another useful alternative in my opinion. World governments cannot stop BTC no matter how hard they try and they know it.

TOR is useful and a good way for online privacy, but it is far from the fact that users of the same can completely hide if they do something very bad - considering that there are those who have the resources to identify those who use TOR. In addition, some repressive regimes such as the Chinese one can block TOR, although even then with some additional actions it may be possible to use the same.

JohnBitCo

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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?

The first thing is that the government of my country did not accept cryptocurrencies and if a miracle happens and the government of my country accepts cryptocurrencies then I will do nothing because I investing in Bitcoin at this time, and if Bitcoin will be legal then I am also investing in Bitcoin.

Fivestar4everMVP

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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?

There is nothing much you as a person can do if your country refuse to legalize bitcoin, all you can do is to depend on p2p.

I mean, you could earn your bitcoins from what ever means available to you, whether it be trading, investing, staking, whatever, but when you convert some of those bitcoins to cash(fiat) which is spendable in your country, you have to make use of p2p to sell those bitcoins..

It's the same thing we in Nigeria are doing today, since bitcoin has not yet officially legalized in the country, we depend on p2p to cash in on our bitcoins.

Kakmakr

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You just go on as normal, because nothing can stop you to convert those bitcoins into cash, when you go to countries where it is legal. I will buy a lot of coins over a long period and then go on an extended "Bitcoin" holiday ..to a country where Bitcoin are legal.

I will then use those coins to buy stuff and to pay for services and my country will not see any of the taxes that are paid on those coins. (VAT in some countries)

Imagine buying an expensive Rolex watch in another country and then selling it, once you get back to your own country. Wink

Bitcoin_people

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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 has become the most popular virtual currency in today's world that everyone uses as their wealth. I see Bitcoin as a future asset because it will definitely help change my life. Bitcoin is very useful for people in many countries of the world accept all payments in Bitcoin, from shopping for goods to food to clothes, they pay with Bitcoin. Moreover Bitcoin is one of the digital currency of the present age which is very profitable to invest and investors are more and more attracted towards Bitcoin. Moreover, Bitcoin is not legal in many countries, especially in the country where I live. But still I am related to bitcoin and transacted by bitcoin, many people use this bitcoin currency from my country and transact easily. If a country legalizes Bitcoin then the economic position of that country changes and they can improve their economic position with Bitcoin in the future. And if they make bitcoin illegal in that country they will not be economically prosperous but they will be economically backward it is the responsibility of a government to legitimize bitcoin in its country. In that case if the government doesn't give Bitcoin legality then there is nothing for the people of our country to do the same way we are using Bitcoin in the future.

Ayers

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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.

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Quote from: m2017 on September 27, 2023, 12:27:11 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?

Any problem or task can be solved in different ways. Often, several. It is difficult for me to give a definite answer at the moment because the legal status of bitcoin in most countries remains unknown. How will I proceed if bitcoin is not legalized? Now I can only speculate, because I prefer to solve problems as they arise.

Here are some possible solutions:
- continue to use the bitcoin despite this, because it is almost impossible to track it unless you convert btc into a traditional monetary system and maintain confidentiality measures.
- move to another country that is more cryptocurrency-friendly.
- don't use the bitcoin in the host country, but when traveling to bitcoin friendly countries, use it. That is, use it periodically and where possible.

It looks like you're getting lost in "what if" and "maybe". These ideas are nice, but they're not really one-size-fits-all. You could pretend to be a sneaky Bitcoin user, a digital nomad looking for a Bitcoin safe haven, or a user who only uses Bitcoin when they move to Bitcoin-friendly areas. They made some smart moves, but each one came with its own problems.

Worrying about the unknown legal situation is normal, but lets not get too far ahead of ourselves. Bitcoin is still moving forward for now. Its always a good idea to have a plan (or three), but lets not worry just yet, shall we? Do not close your eyes, do not rule out any possibilities, and be ready both good and bad opportunitues. You never know, Bitcoin might turn out to be good for you

blockman

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Our country is good with cryptos and if ever they will not legalize it, that's okay. I'm already here and have been in the market for so long, that they might just stop all the crypto services coming from our local exchanges and we will have a hard time converting cryptos into our local money.
If that is so, I'll find the markets that are not commonly known by them because whether we like it or not, there are these exchanges physically that do really exist where people can just exchange each other and trade on their own without being regulated. And a sad thing is that our government's laws don't have that much teeth.

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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 don't really comply with the rules implemented by the government, so when there is a ban on using bitcoin then I don't care about that.

in my own country our government is unable to ban bitcoin because the number of bitcoin investors continues to increase so they agreed to directing bitcoin as a type of digital commodity investment asset, that too with the target that they can get tax money from it, the government always finds it difficult to refuse profits lol.

TheSpiral

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Yes bitcoin has make the life of individuals easy as there are limited jobs opportunities and everyone cannot get the desire job so for this purpose people move towards online earning and prefer bitcoin investment. If bitcoin was not here then during such inflation people will have loss their hopes of living a better life but bitcoin gives a new thoughts of earning to needy people.

I assume that as compared to the previous halving the desire for future halving is more because people was not interested that time in bitcoin but now as it become more successful people move more closer towards its investment.

If there is banned on bitcoin investment then one should not be a part of it because we should be sincere with our country. I think there should be nothing more important than person's loyalty and dignity.

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