When the government forbids cryptocurrency - page 3.

mamahdedeh

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Quote from: bitcoindusts on June 27, 2019, 04:41:57 PM

Quote from: Kingofbitcoin12345 on June 20, 2018, 06:49:37 AM

If they will insist of banning cryptocurrency in that country then you as a bitcoin enthusiast must do something like opposing this action by means of social media with the groups of investors who also be affected by it.. Revolution is one way to push crypto to the world that’s the first option that this is build..

This oppression is also a human right violations or freedom to choose what is right for people been compromised.. But if this won’t change a thing then use Virtual Private Network(VPN) to hide from authority and the last option and must be think carefully is leaving that country behind..

That will be nice but to fight with the government is not a good idea. Not everyone who oppose the government by means of rallying do not always win. The government can also impose a rule in social medias to prohibit any anti-government posts, so that is really sad. Let us just hope leaders in that country will come to realize the benefits they and their people could have with cryptocurrencies and start changing their minds about the law they’ve passed.

unfortunately many free VPN users, and this actually creates new problems for them. many hackers will enter our personal space and will drain all the assets we have. as good citizens, of course we must follow the rules, in order to get clear legal protection

Vishnu.Reang

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Quote from: Coin-1 on June 20, 2018, 10:58:21 AM

I guess your country is Bangladesh or India. In these circumstances the crypto exchange markets will go away into the dark internet. You can to use VPN, TOR or other anonymizers to make a transactions. To be honest, it is difficult to ban the crypto currencies from the technical side. The government of your country don't know how to control this market, and they did a mistake, I think.

VPN / TOR can be used for crypto-to-crypto transactions. But what he'll do in case he want to convert some of his coins to fiat currency? Almost all the major exchanges such as Bitstamp and Kraken have made KYC mandatory now and there is no guarantee that they will not share the user data with the governments. One option is to go for peer to peer transactions using platforms such as Localbitcoins. But even LBC is not 100% safe and the authorities can track your bank transactions.

bitcoindusts

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Quote from: Kingofbitcoin12345 on June 20, 2018, 06:49:37 AM

If they will insist of banning cryptocurrency in that country then you as a bitcoin enthusiast must do something like opposing this action by means of social media with the groups of investors who also be affected by it.. Revolution is one way to push crypto to the world that’s the first option that this is build..

This oppression is also a human right violations or freedom to choose what is right for people been compromised.. But if this won’t change a thing then use Virtual Private Network(VPN) to hide from authority and the last option and must be think carefully is leaving that country behind..

That will be nice but to fight with the government is not a good idea. Not everyone who oppose the government by means of rallying do not always win. The government can also impose a rule in social medias to prohibit any anti-government posts, so that is really sad. Let us just hope leaders in that country will come to realize the benefits they and their people could have with cryptocurrencies and start changing their minds about the law they’ve passed.

Dread Pirate Roberts

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my opinion is their avoiding some service or third parties that using bitcoin as their adventage to make service like money laundry
or as third parties that can handle people money . so far all i know in many country banned crypto mostly is for the service that are they using for make a payment or transaction. but this still controvertial .

trickyriky

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Quote from: Nhebu on June 26, 2019, 10:07:06 PM

Basically, the reason why some countries banned bitcoin to protect their economy from illegal transactions by using Bitcoin. When China, banned bitcoin, Charlie Hayter, founder and CEO of the cryptocurrency data analysis firm CryptoCompare said that there is a risk that it could be used to fund crime or illicit terrorist activity — another reason is that it can be a route to circumvent capital controls. The possible effect is of course, less bitcoin users.

The usage of cryptocurrencies, especially Bitcoin, the most powerful crypto, may affect negatively national currencies, and they will be devalued. Thus, some governments do everything to prohibit any activities connected with crypto.

idham29

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Quote from: arbifahrozy on June 26, 2019, 01:31:10 PM

in my opinion crypto countries will have a major impact on the country's economy. and in my country I have prohibited direct transactions using bitcoin can still make transactions via the bank. and maybe the country is afraid of small bank banks losing their investors

If a country prohibits the use of crypto currencies, it is the same as banning the coming of future financial technology in that country, because digital currencies will certainly be present to be used in domestic and international payment transactions because the development of internet technology has united the inhabitants of the earth.
There are more than 100 countries that have received crypto for use in their country and will continue to grow because something that facilitates transactions will certainly be easy to develop, especially starting from a country with a modern technology.

Nhebu

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Basically, the reason why some countries banned bitcoin to protect their economy from illegal transactions by using Bitcoin. When China, banned bitcoin, Charlie Hayter, founder and CEO of the cryptocurrency data analysis firm CryptoCompare said that there is a risk that it could be used to fund crime or illicit terrorist activity — another reason is that it can be a route to circumvent capital controls. The possible effect is of course, less bitcoin users.

Aptekary

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If you do not pay attention now to the abuse of power against users of cryptocurrency, then many states have expressed concerns that the cryptocurrency allows some individuals to launder money that is criminally. Of course, this should not affect the legalization of cryptocurrencies, but on the contrary should increase control over the processes in the cryptocurrency market.

bitbunnny

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Quote from: aioc on June 09, 2019, 05:34:32 AM

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

You did not mention the name of your country, but in India right now there is news that you could be facing up to ten years in prison just holding, trading and mining cryptocurrency, this is a very abusive law but they cannot stop adoption of cryptocurrency, and they will find themselves one of the few countries that are left in adopting Cryptocurrency.

This is just a proposal in.India, it's not yet in.power and it might not be at all. But I agree thia is very harsh and U don't know what is the background for such decision. Still ban and repression can't solve anything, this is the worst option and it will not solve the problem of cryptocurrencies misuse and illegal activities that are present.
Ban of Bitcoin and other cryptocurrencies could only be punishment for honest users and that is not fair.

rose9696

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Quote from: Ayiranorea on May 30, 2019, 06:30:30 PM

Governments always fear of the technology that they might get over ruled by the technology. The governments that has got the perfect learning about cryptocurrency and the technology behind has adopted it. Particularly I always think of Estonia which is one among the country that has got almost everything integrated to blockchain technology. Maybe this couldn't get effective results now, but it'll get with a bigger level of technology advancement without flaws and helps in having transparency in each and every activity. This makes people have trust on the government.

But it does bring a lot of risks to Estonia. You know, a decentralized market will often bring about rapid prosperity but can also make us poor in a short period of time.
I am not talking about legal issues. I am just afraid that, too many people know the crypto market and participate in it, leaving the current job. then people again use their money to invest in crypto and when lost, the country of Estonia will go into crisis easily. The government needs to print more money and make new terms. that is the worst case that Estonia may encounter in the future and it is very bad.

Adriano2010

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I think the governments should not forbid crypto because they can get extra money if they put a tax on profit for a year, so if someone buy a coin with 10$ and hold and sell it for 100$ the they had a profit of 90$ and maybe they will put 5% for profit or 10% and pay 4,5$ or 9$, but if but with 10$ and the price drop and sell for 5$ there should not be a tax on because is a loss.

geegaw

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Quote from: sinta23 on May 30, 2019, 03:38:41 AM

Quote from: Cherylstar86 on May 30, 2019, 01:51:48 AM

Quote from: Irviyandi on May 29, 2019, 05:59:45 PM

Indeed, sometimes this government does not side with the people sometimes what they prohibit for the people but that is what they use to enrich themselves, and we are forbidden to invest in the cryptocurenncy world but they invest a considerable amount there and take considerable profits also

Some governments forbid cryptocurrecy as they don't study and look its fundamental on how it give peoples accommodation in a way to earn appropriably. It actually develope promisingly with huge potential that been resemble by many. And I think it is about adoptation to conquer its development be recognize its viable fundamentals.

it's true that if the government sees a positive value it will benefit and the community will receive the impact such as the benefits of tourism and so on

I believe that many governments still see positive when using crypto but the problem is that they do not want to apply when their management for crypto is too poor, especially the crypto system is too suitable for high-tech criminals, if their management is not tight enough, losses will never be a small number. So many governments are strictly banning crypto, the characters they are aiming for are not longtime users here, they are targeting new users, they want to limit the appearance of new users in this area, which will help limit many risks

Cherylstar86

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Quote from: Irviyandi on May 29, 2019, 05:59:45 PM

Indeed, sometimes this government does not side with the people sometimes what they prohibit for the people but that is what they use to enrich themselves, and we are forbidden to invest in the cryptocurenncy world but they invest a considerable amount there and take considerable profits also

Some governments forbid cryptocurrecy as they don't study and look its fundamental on how it give peoples accommodation in a way to earn appropriably. It actually develope promisingly with huge potential that been resemble by many. And I think it is about adoptation to conquer its development be recognize its viable fundamentals.

abeecrypto

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It is so sad that the government of some countries are trying so hard to make cryptocurrency unusable in their country. Government generally like to have control over the affairs of the people they govern. Their action should be more the eason why more people should embrace the digital currency market. The government sees the cryptocurrency market as a force to reckon with. In the end, the people will have the final say.

Ozero

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It should be noted that the government is very reluctant to legalize cryptocurrency. This process is too slow and difficult. It realizes that it is unable to really control it. In these cases, under the pressure of citizens, it still does it, although it tries to limit their circulation.
It is forbidden to circulate cryptocurrency where governments have signs of authoritarianism and where the rights of citizens are ignored.

viralmetaphore

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Goverments can say whatever they like. It's their JOB, to lie infront of eyes on the people and handle 'em like puppets. But they never ever ban the true essence from where Bitcoin & cryptocurrencies came. The whole paradigm the spirit that was put in the deep creation and development of BTC.

Enjoy life

Tylev

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Governments of various countries prohibit their citizens from using cryptocurrency only where there is no full-fledged democracy in society and where, in this connection, there are signs of a totalitarian regime of government. In this case, the rights of citizens who cannot or do not want to protect their own interests are ignored. Approximately this situation is now in Russia. The government practically does what it wants, while protesting against the government’s anti-people regime of the unit. Therefore, they are now preparing such a law on cryptocurrency regulation, which will actually prohibit its use by ordinary citizens.

Best Dreams

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Quote from: pieppiep on February 12, 2019, 07:10:00 AM

Quote from: horrifiedx1 on February 12, 2019, 02:27:52 AM

Quote from: jabrix on February 11, 2019, 02:14:52 AM

Quote from: goaldigger on January 09, 2019, 08:01:04 AM

Cryptocurrency is useful in so many ways that the government needs to ban it one by one. Its sad that they limit their people freedom on choosing their own investment and they blocked your opportunity to earn more. After bitcoin's launch to the world, im sure your country will change their mind and go back to using crypto again.

Of course the government prohibits the use of cryptocurrency in his country after going through research and studies on cryptocurrency, whether it has a beneficial or adverse effect.
Besides that, cryptocurrency makes the citizens easier or difficult to use, because it requires technology that not all residents can use it.
Of course the internet network as the most vital means also needs to be known to be used maximally.

right, the government must have made a calculation in advance, whether crypto will have a good or bad impact on the country, so the government has a basis for determining policies, if the government prohibits crypto in its country, of course there are many obstacles that must be faced, so that legalized

in some countries it still prohibits the use of all types of cryptocurrency, the government is very serious about banning cryptocurrency and in my opinion the government prohibits the use of cryptocurrency maybe because of the influence of some local institutions that feel disadvantaged by cryptocurrency.

They are one of those who are having no economical development if they have they must know how important crypto currency is and how beneficial it is to make our economy stable, thankfully in my country there is no such issue because my country government is well aware of all benefits and all establishments that cryptocurrencies can bring in my country.

Triwiyono

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sad also if the government in the country doesn't want to support crypto, even though there are already examples from several countries that are willing to accept crypto, and that is very helpful. maybe you can share your opinion for your government about the benefits of crypto for now and in the future. so, your government thinks again not to ban crypto.

kamilah147

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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.

maybe for now many countries have not recognized the crypto currency in their country for several reasons and of course the negative influence if the government prohibits investors from doing anything with the crypto currency but I am sure that in the future crypto currency will become a currency recognized by the whole world

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