When the government forbids cryptocurrency - page 10.

Capt00

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Quote from: Betwrong on October 14, 2018, 12:42:28 PM

I think that the most important thing to be aware of in this context is that most governments do not forbid cryptocurrencies. You can check out legality of Bitcoin by country following this link

https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory

and you'll see that most countries(read governments) are not hostile towards its usage. Only some of them, like China, India and Russia, have some legal restrictions on usage of Bitcoin, but in fact one can say that BTC is legal there. There is a really small number of countries where Bitcoin is totally illegal, and Vietnam(where OP lives) btw do not belong to that number. I think making cryptocurrencies illegal is ridiculous in the modern world, because it's obvious that there's no future without crypto. But people who make laws in some countries are far from being perfect and that's why sometimes we have ridiculous laws. For example potatoes were illegal in 18th-Century France for 24 years. I think in the future everyone will be laughing at past illegality of Bitcoin in the same manner as we are laughing today at illegality of potatoes.

I don't know yet that the potatoes are illegal in France in 18th-century, if what I the reason behind still I don't know yet. But your statements are right, different countries are having a perspective on what bitcoin it is. We are lucky enough and those countries that friendly on bitcoin also other cryptocurrencies. They will probably regret at the future why they are refusing bitcoin at this present time and not making legal by their government.

Betwrong

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I think that the most important thing to be aware of in this context is that most governments do not forbid cryptocurrencies. You can check out legality of Bitcoin by country following this link

https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory

and you'll see that most countries(read governments) are not hostile towards its usage. Only some of them, like China, India and Russia, have some legal restrictions on usage of Bitcoin, but in fact one can say that BTC is legal there. There is a really small number of countries where Bitcoin is totally illegal, and Vietnam(where OP lives) btw do not belong to that number. I think making cryptocurrencies illegal is ridiculous in the modern world, because it's obvious that there's no future without crypto. But people who make laws in some countries are far from being perfect and that's why sometimes we have ridiculous laws. For example potatoes were illegal in 18th-Century France for 24 years. I think in the future everyone will be laughing at past illegality of Bitcoin in the same manner as we are laughing today at illegality of potatoes.

sakrosak

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the government does not prohibit bitcoin as a digital asset but the government just wants to avoid the negative effects of bitcoin, for example corruption and other crimes.

princesspoppy

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How unfortunate that your country doesn't/can't see the good things about bitcoin and its effect and use in technology. Bitcoin offers lot of opportunities to people, financially and even information that can be useful to one's country to grow their economical status. Good thing that some countries see these opportunities of bitcoin and some of them are not closing their doors in using and supporting it. But as far as I know, blockchain can't be control by anyone, it is decentralize and gives us the idea that you can still use it in some ways.

I just hope that your country will soon open their eyes and see the real value and importance of bitcoin.

MTNAX

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I think even though the government prohibits bitcoin, there are still many people who are interested and use bitcoin. So I think even though the government prohibits bitcoin it will not be too influential for bitcoin users. I am sure that over time the government will know and be able to accept bitcoin as a currency.

randegibran

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I think the government is afraid and forbids for fear of being used in a crime, but they will not be able to stop users. the government will not be able to control the use and for transactions

Assface16678

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Quote from: gantez on June 20, 2018, 06:27:31 AM

You did not say what country you are talking about but such country is suppose to look at the positive side to cryptocurrency and the fact that so many countries have started being positive on it.

Yeah probably it is. The government need to understand what is really the cryptocurrency and also what are the perks of it and so as the positive and negative and how to minimize the risk. With this, if they really understand thing well then they will accept it and it will help the economy.

margaret22

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It is similar, than what happened with Uber in my country a couple years ago. Government said, they do not have a problem with the company, but more rules need for them to fullfill, and of course, these rules were impossible the fullfill, so Uber left. I believe, and hope Bitcoin will be stronger to hold on.

rosesocola

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In contrast to a system of decentralization and anonymity, the creation of government-controlled crypto is the only option of these countries so that the government can regain so-called "control" rights. The crypto money in the world is still very popular, but the leaders are still concerned about the illegal use of virtual currency. Terrorist financing is what the government fears for the anonymity of the market. However, the pre-crypto community still appears optimistic in the media and is slowly improving.

Chrisjay29

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Government will forbid cryptocurrency if people womt stop scamming and hacking people. If this people wont stop i will assure there will be no more crypto in the future

criza

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In banning the cryptocurrency of the government, the main reason why they do that is because the government does not have the benefits of gaininf as much as the people get involved to this. Since in cryptoccurency system, it is very difficult for only one body to regulate its distibution, hence, the government don't have the commission or part to the income. Some countries arounf the globe have already banned the cryptocurrency, but in out country's context, it has not yet been banned nor will be banned. However, if cryptocurrency will be banned, I think that it is imposibble for our country to ban it, but I think that if the government will insist, people will also insist their rights too, they will fight.

efxtrader

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I am believe there is always a way to access cryptocurrency if government forbid it. We are living on technology era and no one can block information or internet on these days. I dont believe government will always ban cryptocurrency, i am prefer believe government will take benefits from crypto market

basyang

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Quote from: asdnguyenthanhtin on June 20, 2018, 05:54:42 AM

When the government forbids cryptocurrency

In my country, the government is gradually apply internet and cryptocurrency control decrees. Previously, they banned direct Bitcoin transactions. Currently, they are banning crypto-related bank transfers. And of course, ICOS is also gradually banned .
Initially, they said they would not ban crypto and bitcoin. But now their actions show that they do not want crypto to exist.
Is their purpose not to secure crypto investors? They are trying to make it their own
They see huge profits being lost for themselves
And when the internet management program took place in my country, maybe I could not come up here to share my views like this. So sad

Hopefully, it will not come to this point that government forbid the used of bitcoin tranasctions. This is going to be a huge problem for all of us. Especially for those people who are relying in cryptocurrencies or somebody quit their job and focus on ICO projects. But I know there are countries that very open in comes to the innovation and believe that technology can really a big help for their economy.

mcTether

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Quote from: asdnguyenthanhtin on June 20, 2018, 05:54:42 AM

When the government forbids cryptocurrency

In my country, the government is gradually apply internet and cryptocurrency control decrees. Previously, they banned direct Bitcoin transactions. Currently, they are banning crypto-related bank transfers. And of course, ICOS is also gradually banned .
Initially, they said they would not ban crypto and bitcoin. But now their actions show that they do not want crypto to exist.
Is their purpose not to secure crypto investors? They are trying to make it their own
They see huge profits being lost for themselves
And when the internet management program took place in my country, maybe I could not come up here to share my views like this. So sad

Don't br afraid mate. Your government will soon realize that cryptocurrency is one important concept it cannot do without. This is because it is already a worldwide phenomenon and your country cannot afford to miss out of the global trend.

DAVETUN

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Bitcoin is the currency of this age

Government can raise a ban or regulations , but sure this can be mostly limited to when individual want to convert there earning to fiat, transactions can be trace and apprehended, But for Bitcoin transaction you can by pas the internet restriction policy, No need to panic, crypto is still evolving, globally individual will be force to adopt the community.

Anyobsss

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Quote from: asdnguyenthanhtin on June 20, 2018, 05:54:42 AM

When the government forbids cryptocurrency

In my country, the government is gradually apply internet and cryptocurrency control decrees. Previously, they banned direct Bitcoin transactions. Currently, they are banning crypto-related bank transfers. And of course, ICOS is also gradually banned .
Initially, they said they would not ban crypto and bitcoin. But now their actions show that they do not want crypto to exist.
Is their purpose not to secure crypto investors? They are trying to make it their own
They see huge profits being lost for themselves
And when the internet management program took place in my country, maybe I could not come up here to share my views like this. So sad

Didn't know that direct bitcoin transactions can be blocked. Would you mind telling us which country are you from?
Internet access could be controlled ex. is north Korea but i don't think that it would be possible to block bitcoin transactions.

trauchot

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There is nothing you can do, you need to search for a ban bypass or look for other earnings. In many countries, the situation is the same, but as I know, people have found ways to bypass the system and are still working with cryptocurrency, but the risk of getting caught is too high, so the every person has to decide what to do.

syamster

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Quote from: raidarksword on October 11, 2018, 08:17:48 PM

Government begun to forbid crypto currency when bitcoin was getting so much attention from people wanted a change and making noise on news and making uptrend on social media platforms. Now, everything was changed because there are some countries allowed crypto currency to enter into their economy by adapting and accepting the future currency that will surely be widely used by other countries as well.

Same as you I am sure no government can ever prohibit the movement of bitcoin in their country, because we all know bitcoin has high potential and it is being use as a goal of making money, so people are interested in using it and no government can control it because all investors are being so high in determination and they are increasing in number day by day, it means it is almost impossible to forbid bitcoin.

suzanne5223

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Quote from: raidarksword on October 11, 2018, 08:17:48 PM

Government begun to forbid crypto currency when bitcoin was getting so much attention from people wanted a change and making noise on news and making uptrend on social media platforms. Now, everything was changed because there are some countries allowed crypto currency to enter into their economy by adapting and accepting the future currency that will surely be widely used by other countries as well.

Those government that place ban on bitcoin or other crypto currency are been selfish and denying their citizen the right of democracy. However, the reason behind their negative habit towards Bitcoin because cryptoe gives people liberation but they say bitcoin is a threat to their economy.

nguyenthanhvien

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Quote from: sidodadii on September 27, 2018, 10:44:40 AM

but now, many country accept bitcoin. for investment, trading, or as payment method.
government have reason why they ban crypto in their country, and im sure there are many reason that make the country threatened. i know if crypto is profitable to make money, but they not talking about money.

I agree. Many places in the world are changing their minds when they realize the real value of Bitcoin. I think the next few years Bitcoin will be accepted around the world.

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