When the government forbids cryptocurrency - page 17.

Nikifor25

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Quote from: asdnguyenthanhtin on June 20, 2018, 04:54:42 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

It's not profitable for the government to lose money if more people are rich and more opportunities to overthrow the government.

Harrow30

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DATABLOCKCHAIN.IO SALE IS LIVE | MVP @ DBC.IO

That's a huge step taken to checkmate cryptocurrency operations in your country and handicapping withdrawal processes VI's the bank assistance. Well, I think there can still be a way around it to have your withdrawals made to a domiciliary account and also bypassing internet protocol via VPN.

Sled

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Bitcoin- in bullish time

Quote from: aoihs00 on July 03, 2018, 01:23:19 AM

Governments and their bans is problem of whole internet and globe itself. This is like most hot topic in the country and there is no real answer as to why government does such moves. Some says they are trying to protect the crypto investors from the fraud schemes, some says it comes down to the economic imbalance if crypto overgrows in the time, and rest of them says its all about the criminal activities that seeds out of the anonymity of the crypto currency. You see, there are multiple reasons behind this, either all of them true or some of them true but its finally in their hands and thinking on how to protect the nation.

In my opinion, there is no big deal for me if a country forbids the cryptocurrency because at the end they will remove the ban for it because the evolution of the technology is unstoppable and maybe they can escape it from now but in the future, they can't do it and there is no choice for them but to adopt it by themselves so they will not get behind.

aoihs00

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Governments and their bans is problem of whole internet and globe itself. This is like most hot topic in the country and there is no real answer as to why government does such moves. Some says they are trying to protect the crypto investors from the fraud schemes, some says it comes down to the economic imbalance if crypto overgrows in the time, and rest of them says its all about the criminal activities that seeds out of the anonymity of the crypto currency. You see, there are multiple reasons behind this, either all of them true or some of them true but its finally in their hands and thinking on how to protect the nation.

StarofBTC

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Quote from: hector3115 on June 27, 2018, 08:43:40 AM

Quote from: asdnguyenthanhtin on June 20, 2018, 04:54:42 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

It is so irritating that government would just have a desire, and they have an ability to forget somebody doing something. Eventually they see huge profits being lost for themselves and they want them to be there.

There are some governments which do not allow the cryptocurrencies in their countries due to the threats and disruption it will cause in their countries, the cryptocurrency will disrupt their banks.

They are selfish to get tax from people and as we know that cryptocurrency will make complications for them to implement tax here because it is a currency so they do not want to disrupt their sources from which they get tax.

PalindromemordnilaP

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That's a bit unfortunate for your country to turn away from cryptocurrencies. They may prohibit the use of cryptocurrencies in your country they can't stop you and other people who love cryptocurrencies and the entire internet access in your country. We also know that China bans crypto but i have read some news and reports that Chinese are still doing bitcoin mining and some crypto stuffs there.

kisscoin

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The world of cryptocurrency is a gold niche of a new generation. And when the government sees this monetization go past them and their pockets, then they start to twist everything in their favor. I do not think that they will be able to 100% turn this round of earnings in their direction and I hope for it!

drachman

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Quote from: no0dlepunk on June 27, 2018, 10:02:21 AM

Drugs are always forbidden, but the cartel always find ways to keep it running my friend. If your government starts to forbid bitcoins, then you must think like a gangster... there are lots of ways to cash in/out. You just have to be creative.

This is a terrible idea especially if you live in a country where the laws are actually applied, the best thing to do will be to move to another country but that is something that only those that have big holdings can do, but you need to understand that the moment the government declares holding and trading crypto illegal you cannot sell them or you risk going to prison so in the case in which you cannot leave your country it may be a good idea to leave your coins alone.

FlightyPouch

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Quote from: lelahkenabanned on June 25, 2018, 01:53:51 AM

it seems the government will never be able to prohibit circulation of bitcoin or other cryptocurrency based blockchain because bitcoin is a digital currency that was created to avoid government power.

That is right. Bitcoin is a decentralized digital currency so they can have the freedom of the transactions. Even if they ban Bitcoin in their country, people can still send transactions to other people using Bitcoin, they can't really stop it the reason I think some countries already put a tax on Bitcoins instead of banning it, they just want to get some money out of it.

Sled

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Bitcoin- in bullish time

Quote from: b3j0 on July 02, 2018, 04:14:24 AM

From which country are you from?
there is no reason for the government to ban cryptocurrency, the government should not ban but make regulations. everything will be fine if set correctly.

The government from different countries have their own basis in making decisions and also for what they are going at the end of the day. If government forbids cryptocurrency then just let them do that because it is not that hard to reverse if they change their mind and it is understandable since cryptocurrency is not that stable to rely on.

lelahkenabanned

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it seems the government will never be able to prohibit circulation of bitcoin or other cryptocurrency based blockchain because bitcoin is a digital currency that was created to avoid government power.

b3j0

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From which country are you from?
there is no reason for the government to ban cryptocurrency, the government should not ban but make regulations. everything will be fine if set correctly.

Mind Control

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Quote from: iamike on July 02, 2018, 02:59:36 AM

This is so sad that your government want to ban cryptocurrency in your country. But the question is why do they want to ban cryptocurrency at all? Banning cryptocurrency in the country will do more harm than good to be frank. Now most investors are putting money in cryptocurrency. People are getting themselves employed by investing in crypto so banning this will put serious stress on the economy. Your government should try and rescind that decision

I am wondering how could banning cryptocurrency in a certain country could significantly affect its economy. As far as I know, cryptocurrency hasn't even having a big impact for the economy as a whole. Let us say that many are making a living by engaging in cryptocurrency, however, the fact that engaging in cryptocurrency is not recognized as a "job" by government in most countries (I have no idea if a government somewhere recognizes it) then how can it put "serious stress" in the economy?

For the record, cryptocurrency will not make the economy any better. Optimism is good but we have to take a look at the reality from time to time. Roll Eyes

iamike

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This is so sad that your government want to ban cryptocurrency in your country. But the question is why do they want to ban cryptocurrency at all? Banning cryptocurrency in the country will do more harm than good to be frank. Now most investors are putting money in cryptocurrency. People are getting themselves employed by investing in crypto so banning this will put serious stress on the economy. Your government should try and rescind that decision

prtty2gal2

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Quote from: EdenHazard on June 27, 2018, 10:27:29 AM

Quote from: no0dlepunk on June 27, 2018, 10:02:21 AM

Drugs are always forbidden, but the cartel always find ways to keep it running my friend. If your government starts to forbid bitcoins, then you must think like a gangster... there are lots of ways to cash in/out. You just have to be creative.

Sound good, Government just human being, same like us. The government has a brain and we also have the same, do what you need do not depend on someone else. Cryptocurrency is not prohibited by all countries, you can still have reason to use, in contrast to drugs that almost all prohibit it, right.

This is why I hate the government for. The technology being a potential one and offering so many advantages is banned. This does not make any sense. Despite banning all the illegal and taking strict actions against corruption and other immoral activities, they have banned the crypto currency which can improve the economic efficiency of a country. But let’s hope for the time when everyone around the world will be able to use it to make their lives easy.

fishball

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Quote from: asdnguyenthanhtin on June 20, 2018, 04:54:42 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

Why bother feeling sad if cryptos are actually decwntralized meaning it does not matter wether it is being banned or not for it still can work freely right?

deppil

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Quote from: dharnamonitor on June 29, 2018, 11:38:38 PM

Quote from: no0dlepunk on June 27, 2018, 10:02:21 AM

Drugs are always forbidden, but the cartel always find ways to keep it running my friend. If your government starts to forbid bitcoins, then you must think like a gangster... there are lots of ways to cash in/out. You just have to be creative.

I agree with you, especially that the bitcoin itself are completely for anonymity. You could still make some transactions if you have some connections with some people who are willing to sell or buy in exchange for fiat.

You right. actually though the government forbids bitcoin even if you can still use bitcoin easily. because the government will not be
able to exercise control from within even though they provide a ban though. let alone an anonymous bitcoin. so the ban will not count

vimoknguoi1

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That would be the currency of a country in the future

hatsoff2btc

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Quote from: sp01_cardo on June 25, 2018, 06:36:46 PM

If our government forbids cryptocurrency we will not do anything about it. In my country our government not actually forbid crypto but they said that it is our risk to invest in crypto because of some scams have been happened. My country also consider what is the positive side of crypto so that they will not ban it.

Governments of different countries are against the Bitcoin and other cryptocurrencies due to the disruption it can cause if they recognize it in their countries, the disruption of Banks. Banks get disrupted due to the introduction of another innovation and this is Bitcoin and other cryptocurrencies. Central banks are also afraid however developed countries have recognized the Bitcoin and are going good with it.

Adamant06

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Quote from: canadinhano on June 22, 2018, 05:41:27 PM

Each country is different, in my country the government does not mention electronic money and they do not interfere with them, we are free to trade and just sell online, there are not any places to trade domestic.

Same goes to my country, actually they already accepted crytocurrency and the block chain technology. Though only few countries accepted cryptocurrency and others banned it already, were glad that our government adapted it.

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