Topic: Will You Still Get Into Bitcoin Even if the Gov't Declared it Illegal? (Read 398 times)
January 13, 2018, 05:53:25 PM
No, I will totally detach myself from crypto-world if my country declares BTC or Crypto illegal. It is because I don't want to take risk of my life just to earn few Bitcoin which I can't even convert into my country's fiat as it is illegal. So there is no point of taking the risk just to be digitally rich which can put me in jail also.
January 13, 2018, 04:37:42 AM
This just shows how antifragile Bitcoin is to political attacks.
I wholeheartedly agree with your statement. If one of the superpowers like the US decides
to ban Bitcoin it immediately becomes very attractive for other superpowers like Russia
or China to start to support Bitcoin publicly. This feature really serves as a defense against
potential enemies in the form of individual states.
I wholeheartedly agree with your statement. If one of the superpowers like the US decides
to ban Bitcoin it immediately becomes very attractive for other superpowers like Russia
or China to start to support Bitcoin publicly. This feature really serves as a defense against
potential enemies in the form of individual states.
If the US bans BTC China and Russia can't do ...you know what.
What will make that coin attractive?
A coin that is refused by 300 millions with the highest purchase power in the world?
Hasn't the whole China ban proved one thing?
That the real power and the real money source for bitcoin growth is in the west?
Nobody cares about China, and of course not about Russia!!!!
Oh, did you use the world superpower? Russia? With an economy smaller than that of Netherlands?
Get real.
If the US bans BTC usage entirely get ready for 10$ a coin.
If my government ban Bitcoin to used in my country it is quit complicated because the problem is you don't have the bitcoin to fiat exchanger that can process your transaction.but since is p2p transactions and known to have no boundary you can kept your Bitcoin in your electronic wallet and you can bring it anywhere in the world and you can use it in the countries that is bitcoin friendly country. The beauty of this currency is for being no boundary and anonymous as long as there is an internet you can use it any time anywhere you want. so government can get nothing banning Bitrcoin.
Probably you should read the laws a bit.
Even if you use your coins over the internet for a website in another country, you still commit a felony.
Just like a us citizen betting on an uk betting website is considered illegal.
January 12, 2018, 02:19:03 PM
No, I will get out of Bitcoin If govt. declare it illegal because I don't want to be a culprit and face any consequences of using BTC in future. If govt. implies strictly ban the BTC and this law has been implied effective then I will withdraw all my BTC into fiat.
January 12, 2018, 01:06:30 PM
Honestly, I would not. Once it gets illegal, I can do nothing but going back to my normal life hoping that they would legalize it one day. And at the moment, bitcoin is neither legal nor illegal. I can use it for whatever purpose I want as long as I do not use it for illegal purposes like buying drugs.
Moreover, the government would not get any benefits from banning bitcoin because it would prevent many people from working. And if they were not working, they would complain to the government about being unemployed. Therefore, they would rise an issue to the government.
True, if bitcoin is forbidden, we can not do anything except leave this activity. Moreover, the government would not get any benefits from banning bitcoin because it would prevent many people from working. And if they were not working, they would complain to the government about being unemployed. Therefore, they would rise an issue to the government.
Because if it continues to do it would be a big risk
January 11, 2018, 09:02:40 AM
Honestly, I would not. Once it gets illegal, I can do nothing but going back to my normal life hoping that they would legalize it one day. And at the moment, bitcoin is neither legal nor illegal. I can use it for whatever purpose I want as long as I do not use it for illegal purposes like buying drugs.
Moreover, the government would not get any benefits from banning bitcoin because it would prevent many people from working. And if they were not working, they would complain to the government about being unemployed. Therefore, they would rise an issue to the government.
True, if bitcoin is forbidden, we can not do anything except leave this activity. Moreover, the government would not get any benefits from banning bitcoin because it would prevent many people from working. And if they were not working, they would complain to the government about being unemployed. Therefore, they would rise an issue to the government.
Because if it continues to do it would be a big risk
January 11, 2018, 12:50:37 AM
Honestly, I would not. Once it gets illegal, I can do nothing but going back to my normal life hoping that they would legalize it one day. And at the moment, bitcoin is neither legal nor illegal. I can use it for whatever purpose I want as long as I do not use it for illegal purposes like buying drugs.
Moreover, the government would not get any benefits from banning bitcoin because it would prevent many people from working. And if they were not working, they would complain to the government about being unemployed. Therefore, they would rise an issue to the government.
True, if bitcoin is forbidden, we can not do anything except leave this activity. Moreover, the government would not get any benefits from banning bitcoin because it would prevent many people from working. And if they were not working, they would complain to the government about being unemployed. Therefore, they would rise an issue to the government.
Because if it continues to do it would be a big risk
January 10, 2018, 03:20:38 PM
Honestly, I would not. Once it gets illegal, I can do nothing but going back to my normal life hoping that they would legalize it one day. And at the moment, bitcoin is neither legal nor illegal. I can use it for whatever purpose I want as long as I do not use it for illegal purposes like buying drugs.
Moreover, the government would not get any benefits from banning bitcoin because it would prevent many people from working. And if they were not working, they would complain to the government about being unemployed. Therefore, they would rise an issue to the government.
Moreover, the government would not get any benefits from banning bitcoin because it would prevent many people from working. And if they were not working, they would complain to the government about being unemployed. Therefore, they would rise an issue to the government.
January 09, 2018, 05:07:21 PM
I'm already in. Would I leave? I don't really see why I should when it was perfectly legal when I arrived. And the coinciding announcement would wallop the price so much there wouldn't be much point in selling. I'll just nip off abroad. There'll be plenty of jurisdictions where it's fine and I can bring all my trillions with me on a piece of paper with a few words on it.
That's easy to say when Morocco or Vietnam talks about banning Bitcoin. What if the USA, Britain, Australia and others coordinated a ban? Then your options to move abroad become much less attractive.
And such coordinated state attacks against the network should take a nice bite out of the price, too. I suspect that Bitcoin would still have market demand in that case, but not the type of demand we see today, which is based on speculation of Wall Street and mainstream adoption.
January 09, 2018, 02:23:33 PM
The ban of bitcoin in one or several countries will not have consequences. To earn bitcoin on the Internet outside the jurisdiction of these countries. You can always go to another country to cash out bitcoins and to return to the country with Fiat. This creates additional inconvenience but does not stop the use of cryptocurrencies.
Government should support this great technology or they are just being scared because its Decentralized. I will keep on holding my bitcoin because I know time will come that more people will accept bitcoin and it includes every government. Cryptocurrency is a digital currency thay will makes us more better.
January 09, 2018, 09:08:25 AM
The ban of bitcoin in one or several countries will not have consequences. To earn bitcoin on the Internet outside the jurisdiction of these countries. You can always go to another country to cash out bitcoins and to return to the country with Fiat. This creates additional inconvenience but does not stop the use of cryptocurrencies.
Government should support this great technology or they are just being scared because its Decentralized. I will keep on holding my bitcoin because I know time will come that more people will accept bitcoin and it includes every government. Cryptocurrency is a digital currency thay will makes us more better.
January 09, 2018, 05:43:26 AM
The ban of bitcoin in one or several countries will not have consequences. To earn bitcoin on the Internet outside the jurisdiction of these countries. You can always go to another country to cash out bitcoins and to return to the country with Fiat. This creates additional inconvenience but does not stop the use of cryptocurrencies.
January 09, 2018, 01:39:22 AM
For me personally, I'm more thinking as long as I don't to harmful to the others people or deceiving people / committing crime with using bitcoin as a media, I will remain in it.
Anyway.. in the country where I live hasn't really banning completely to engage with bitcoin, the goverment only reminds to be cautious in the activities undertaken and not ban to selling it to local currency. I don't think it seems would be banning completely, due Bitcoin can helping a finances & reducing poverty.
If it's completely banned.. as a good citizen maybe I will follow the rules and stop engaging with bitcoin.
And for now, I can only take the advantage of the situation as best I can do to gain profit from bitcoin earnings / crypto currency.
Anyway.. in the country where I live hasn't really banning completely to engage with bitcoin, the goverment only reminds to be cautious in the activities undertaken and not ban to selling it to local currency. I don't think it seems would be banning completely, due Bitcoin can helping a finances & reducing poverty.
If it's completely banned.. as a good citizen maybe I will follow the rules and stop engaging with bitcoin.
And for now, I can only take the advantage of the situation as best I can do to gain profit from bitcoin earnings / crypto currency.
Maybe for the benefit of your reputations you can stop using bitcoin in general spending, but I don't think you will stop yourself in earning bitcoin for your personal use and digital wealth online. Because I think that bitcoin if become illegal in the country from where you're residing of, you will not be having a resistance of using the internet. Nowadays we could be able to use internet anonymously, so bitcoin transaction can be still done but in a confidential matters.
January 08, 2018, 11:23:42 PM
For me personally, I'm more thinking as long as I don't to harmful to the others people or deceiving people / committing crime with using bitcoin as a media, I will remain in it.
Anyway.. in the country where I live hasn't really banning completely to engage with bitcoin, the goverment only reminds to be cautious in the activities undertaken and not ban to selling it to local currency. I don't think it seems would be banning completely, due Bitcoin can helping a finances & reducing poverty.
If it's completely banned.. as a good citizen maybe I will follow the rules and stop engaging with bitcoin.
And for now, I can only take the advantage of the situation as best I can do to gain profit from bitcoin earnings / crypto currency.
Anyway.. in the country where I live hasn't really banning completely to engage with bitcoin, the goverment only reminds to be cautious in the activities undertaken and not ban to selling it to local currency. I don't think it seems would be banning completely, due Bitcoin can helping a finances & reducing poverty.
If it's completely banned.. as a good citizen maybe I will follow the rules and stop engaging with bitcoin.
And for now, I can only take the advantage of the situation as best I can do to gain profit from bitcoin earnings / crypto currency.
January 08, 2018, 05:29:16 PM
...If some governments ban it there will always be others that will endorse it.
This just shows how antifragile Bitcoin is to political attacks.
I wholeheartedly agree with your statement. If one of the superpowers like the US decides
to ban Bitcoin it immediately becomes very attractive for other superpowers like Russia
or China to start to support Bitcoin publicly. This feature really serves as a defense against
potential enemies in the form of individual states.
However, none of the superpowers have really banned Bitcoin so far and only
certain small countries like Morocco or Vietnam have done it, which hasn´t really
impacted Bitcoin adoption in these countries. They were negligible in terms of Bitcoin
adoption to begin with. This decision could really hurt these countries in the long-term in my
opinion.
January 08, 2018, 03:20:52 PM
Oh but they can!!!
Most people here haven't lived in a totalitarian regime , or a communist country.
They can stop everything!!!!
Power, tv,cellphones, water,gas and ...food!
Check out some pictures from the "education" camps.
One week in one of those and I'm willing to bet you would shout 2/47 "Bitcoin is a ponzi!!!".
People have this idiotic idea that the internet is free, that nothing can shut down the internet.
If we indeed manege to make the wrong choice and elect some stupid dimwits in the EU and US (really dimwits) that are against BTC you will see how it can be stopped.
Fortunately Europe is not Bangladesh or Nepal.
Most people here haven't lived in a totalitarian regime , or a communist country.
They can stop everything!!!!
Power, tv,cellphones, water,gas and ...food!
Check out some pictures from the "education" camps.
One week in one of those and I'm willing to bet you would shout 2/47 "Bitcoin is a ponzi!!!".
People have this idiotic idea that the internet is free, that nothing can shut down the internet.
If we indeed manege to make the wrong choice and elect some stupid dimwits in the EU and US (really dimwits) that are against BTC you will see how it can be stopped.
Fortunately Europe is not Bangladesh or Nepal.
We already have. In Europe Merkel and Macron are indirectly committing genocide on their own people by inviting more terrorists into their countries and making the taxpayers cover their expenses. As a result they have to increase the spending on police and army to fight those terrorists in their own countries and clean up after each new attack. And there are attacks basically every month.
As for the governments going against BTC, it will never happen globally. The world has always been divided, that's why we had wars. Some countries have nuclear weapons and some are against them. If some governments ban it there will always be others that will endorse it.
January 08, 2018, 02:51:31 PM
Bitcoin and other cryptocurrencies are right now making a big buzz and though 2017 is one of its most controversial year there are still more with this industry that will continue on creating a stir as it is entering the mainstream of the population. because of its increasing popularity, countries and their financial leaders are now forced to look at Bitcoin seriously and come up with the decision either to open up their country legally or follow the path decide on by China last September. The choice is theirs to make as we individually could not do so much about it except voicing our opinions if given the chance to say anything. Certainly, there are countries which do not recognize Bitcoin and are asking their citizens not to get involved with it warning that Bitcoin can be just another ponzi in the making.
Now, if you happen to be a residing citizen of a country that is banning Bitcoin will you still discreetly involved with it in the face of some possible sanctions?
January 08, 2018, 02:14:49 PM
Bitcoin and other cryptocurrencies are right now making a big buzz and though 2017 is one of its most controversial year there are still more with this industry that will continue on creating a stir as it is entering the mainstream of the population. because of its increasing popularity, countries and their financial leaders are now forced to look at Bitcoin seriously and come up with the decision either to open up their country legally or follow the path decide on by China last September. The choice is theirs to make as we individually could not do so much about it except voicing our opinions if given the chance to say anything. Certainly, there are countries which do not recognize Bitcoin and are asking their citizens not to get involved with it warning that Bitcoin can be just another ponzi in the making.
Now, if you happen to be a residing citizen of a country that is banning Bitcoin will you still discreetly involved with it in the face of some possible sanctions?
January 08, 2018, 02:14:32 PM
Yes I still get bitcoin. For me bitcoin is still investment and asset for my future. Bitcoin not stable yet, but every day is increase.
I sure one by one country, the government will legalized bitcoin in the future.
I sure one by one country, the government will legalized bitcoin in the future.
January 08, 2018, 01:55:31 PM
if the government of your country banish bitcoin then nothing that the people of that country can do, because banks, exchange and all actors that directly or indirectly allow you to buy and sell bitcoin will not accept that you buy and sell bitcoins. see for example my case, I am from a country that is restricted to using bitcoin debit card, so I can spend my bitcoins in my country I have to pay many fees and do lots of processes. Sometimes it becomes very annoying the processes that I must do so that I have my bitcoins in my bank account of my country.
But still you can get out your money, i guess. if you have bitcoins in your wallet, you can visit nearby country where it s legal, you just go and convert bitcoins to USD or any other currency that you like
January 08, 2018, 12:40:47 PM
I'm already in. Would I leave? I don't really see why I should when it was perfectly legal when I arrived. And the coinciding announcement would wallop the price so much there wouldn't be much point in selling. I'll just nip off abroad. There'll be plenty of jurisdictions where it's fine and I can bring all my trillions with me on a piece of paper with a few words on it.
January 08, 2018, 12:01:05 PM
Bitcoin and other cryptocurrencies are right now making a big buzz and though 2017 is one of its most controversial year there are still more with this industry that will continue on creating a stir as it is entering the mainstream of the population. because of its increasing popularity, countries and their financial leaders are now forced to look at Bitcoin seriously and come up with the decision either to open up their country legally or follow the path decide on by China last September. The choice is theirs to make as we individually could not do so much about it except voicing our opinions if given the chance to say anything. Certainly, there are countries which do not recognize Bitcoin and are asking their citizens not to get involved with it warning that Bitcoin can be just another ponzi in the making.
Now, if you happen to be a residing citizen of a country that is banning Bitcoin will you still discreetly involved with it in the face of some possible sanctions?
January 08, 2018, 11:18:49 AM
It depends on how strict will they enforce their laws about it as some country only create laws but not enforce it. If that is the case I can still safely earn Bitcoin even without worrying that i'll be caught in the future. Now my main problem will be of course cashing Bitcoin out to a Fiat Currency which it would be hard as no one will be brave enought to have big transactions involving Bitcoin so I meed to go out to the country and cash it out to another foreign Fiat Currency.
January 08, 2018, 09:35:07 AM
Now, if you happen to be a residing citizen of a country that is banning Bitcoin will you still discreetly involved with it in the face of some possible sanctions?
It would depend on my perception of enforcement action. Are they packet sniffing on individual citizens? Would I get thrown in jail for making a Bitcoin payment? Most governments are stretched too thin for that and are probably just interested in a blanket deterrent if they institute a ban. The use of VPN and TOR might be enough to hide your activity.
The real problem is when the governments start banning VPNs and turning TOR into a honeypot. Decentralized mesh networks can't come soon enough, but at this point, they still feel like a pipe dream.
Even with VPNs and TOR, I'd probably still not use bitcoin or any other crypto once a ban is declared in my country. It might not be worth it to continue using bitcoin if an individual would have to be discreet or hide their activities. Although it's not likely for the government to check on each user individually, it would still be difficult to use bitcoin discreetly. With the possibility for all of the local exchanges to shut down, it would too tiresome and a hassle to make transactions. Even the mere possession of bitcoin may get you in jail if a ban were to be constituted.
January 08, 2018, 04:59:05 AM
I was just talking about this with someone. If the crypto I am starting becomes a success, I will move to another country... likely somewhere in Europe. However, I don't believe the USA is going to completely outlaw it anytime soon. Our economy needs this boost of innovation and cash flow. Regulate the hell out of it, yes. Completely ban it, no.
January 08, 2018, 04:45:02 AM
Even if bitcoin is illegal in my country in case, i still do secretly joining the bitcoin. If this is the only way to be successful and can help me in my financial problem, then i still make it.
January 08, 2018, 04:29:10 AM
If there is a way I will but I don't think that could be possible. Government will ban all the wallet exchange So I think there is no for that as exchanges is the only way for us to convert bitcoin into cash.
January 08, 2018, 02:44:13 AM
If it will still be profitable then I would still get into bitcoin. There are many ways how to bypass it, as long as I am earning from it I will not stop investing from bitcoin.
I slightly disagree.
With the government intervening with the processes and systems of bitcoin, rich/famous investors and even big marketing/trading companies who are responsible for the increase of its price would start losing interest, thus making it immaterial and irrelevant to the market which would decrease its price significantly. But this scenario is very unlikely to happen considering that the market is full of other alternate coins for investments. Not to mention, if bitcoins were to be illegal and you still chose to meddle with it, it is no different from transacting drugs/guns due to their nature being opposing to public morals.
An end to bitcoin means an end to all other coins in the market. People can't be stopped on what they, no matter how the governments actions, people always find a way. Since transactions on bitcoin is anonymous there a small possibility that big investors will pull out their money.
January 08, 2018, 02:36:43 AM
Goverment can stop everything)))
Nope they cant. Because it is just common that rich people can control the law. And also there are times that a government also is making profits with this so called bitcoin. Different countries different problems, so it maybe illegal in other places, it is legal in other places. So if your country has rich businessmen who invested in bitcoin, they can always make some leeway to escape tax.
Oh but they can!!!
Most people here haven't lived in a totalitarian regime , or a communist country.
They can stop everything!!!!
Power, tv,cellphones, water,gas and ...food!
Check out some pictures from the "education" camps.
One week in one of those and I'm willing to bet you would shout 2/47 "Bitcoin is a ponzi!!!".
People have this idiotic idea that the internet is free, that nothing can shut down the internet.
If we indeed manege to make the wrong choice and elect some stupid dimwits in the EU and US (really dimwits) that are against BTC you will see how it can be stopped.
Fortunately Europe is not Bangladesh or Nepal.
January 07, 2018, 09:36:04 PM
If banning Bitcoin would actually happen, and it would be made illegal for possessing or trading Bitcoins it is difficult for the governments to compile a plan to enforce such a ban. Unless Bitcoin traders hand over their private keys, it is impossible for the government to seize those Bitcoins. but if due to government pressures the bitcoin bubble will burst, i will stop.
January 07, 2018, 09:20:31 PM
No, I would be out of bitcoin because I don't want to risk my life to be in prison because I want to earn some coins. I can't cash out anyway because banks and any other means to convert it to fiat would not allow it since it is illegal so I would have to find other means to earn another source of income. Fortunately, our country allow us to trade bitcoin and even cash out it banks but they are thinking of regulating the platforms and I have no problem with that because I can still earn.
I have been thinking of the what ifs and one of the scenario is the total ban of crypto in our country so from time to time, I cash out and start funding another business in the real world so that I would have a fall back in case something happens not in my favor.
I have been thinking of the what ifs and one of the scenario is the total ban of crypto in our country so from time to time, I cash out and start funding another business in the real world so that I would have a fall back in case something happens not in my favor.
January 07, 2018, 10:41:32 AM
I still want to earn money / profit from bitcoin trading so even though that my government decide to forbid bitcoin, I will find the way such like using VPN or convert bitcoin into paypal so I can still earn bitcoin profit.
Maybe the most extreme case is moving to another country !
Maybe the most extreme case is moving to another country !
January 07, 2018, 09:04:14 AM
If it will still be profitable then I would still get into bitcoin. There are many ways how to bypass it, as long as I am earning from it I will not stop investing from bitcoin.
I slightly disagree.
With the government intervening with the processes and systems of bitcoin, rich/famous investors and even big marketing/trading companies who are responsible for the increase of its price would start losing interest, thus making it immaterial and irrelevant to the market which would decrease its price significantly. But this scenario is very unlikely to happen considering that the market is full of other alternate coins for investments. Not to mention, if bitcoins were to be illegal and you still chose to meddle with it, it is no different from transacting drugs/guns due to their nature being opposing to public morals.
January 07, 2018, 07:31:15 AM
If it will still be profitable then I would still get into bitcoin. There are many ways how to bypass it, as long as I am earning from it I will not stop investing from bitcoin.
January 07, 2018, 07:28:34 AM
Tough question, but if I'm honest, yeah I probably would..
I'm lucky that in Australia, our government is rather supportive of Bitcoin and cryptocurrencies (even if the banks are not) so I won't have to face this situation any time soon.
But, if that was not the case, I'd still probably keep a stash of Bitcoin locked away somewhere - It wouldn't be that hard.
I'd be happy to cop a fine and slap on the wrist if I got caught
If the punishment was more serious, like jail time, I might reconsider..
Or move to a different country
I'm lucky that in Australia, our government is rather supportive of Bitcoin and cryptocurrencies (even if the banks are not) so I won't have to face this situation any time soon.
But, if that was not the case, I'd still probably keep a stash of Bitcoin locked away somewhere - It wouldn't be that hard.
I'd be happy to cop a fine and slap on the wrist if I got caught
If the punishment was more serious, like jail time, I might reconsider..
Or move to a different country
January 07, 2018, 05:51:36 AM
My country is in a process to ban the bitcoins, our government has already issued many notifications regarding risk involved with the cryptocurrencies but still people are investing into the bitcoins and other cryptos at their own risk. Government has clearly stated that citizens should stay away from crypto currencies and government will not be responsible for any losses. Even if my country's government banned the bitcoins then i will still continue to hold the bitcoins.
January 07, 2018, 04:20:44 AM
It will not happen as the gov has some interest in bitcoins, it's just more money to tax for them
January 07, 2018, 03:30:39 AM
We still can use bitcoins even if it is declared as illegal action because there is no way available to find who is using bitcoins but it is not possible to buy and sell bitcoins in your country because if it was illegal then all exchanges will be closed.So you have to buy from foreign countries so you must have bank account in that country it looks so annoying right.So people will lose interest on bitcoins if it was banned in their country.
January 06, 2018, 11:17:43 PM
Now, if you happen to be a residing citizen of a country that is banning Bitcoin will you still discreetly involved with it in the face of some possible sanctions?
It would depend on my perception of enforcement action. Are they packet sniffing on individual citizens? Would I get thrown in jail for making a Bitcoin payment? Most governments are stretched too thin for that and are probably just interested in a blanket deterrent if they institute a ban. The use of VPN and TOR might be enough to hide your activity.
The real problem is when the governments start banning VPNs and turning TOR into a honeypot. Decentralized mesh networks can't come soon enough, but at this point, they still feel like a pipe dream.
January 06, 2018, 02:51:54 PM
Bitcoin and other cryptocurrencies are right now making a big buzz and though 2017 is one of its most controversial year there are still more with this industry that will continue on creating a stir as it is entering the mainstream of the population. because of its increasing popularity, countries and their financial leaders are now forced to look at Bitcoin seriously and come up with the decision either to open up their country legally or follow the path decide on by China last September. The choice is theirs to make as we individually could not do so much about it except voicing our opinions if given the chance to say anything. Certainly, there are countries which do not recognize Bitcoin and are asking their citizens not to get involved with it warning that Bitcoin can be just another ponzi in the making.
Now, if you happen to be a residing citizen of a country that is banning Bitcoin will you still discreetly involved with it in the face of some possible sanctions?
Depends on the country, and the severity of the law. Some countries are extremely intolerant of financial crimes, and some countries are very draconian in the way that these crimes would be prosecuted. North Korea, for example, might mean a death sentence, while China or the US might mean a fine, at the worst some jail time.
Bitcoin is practically useless without a fiat gateway, either for conversion or to spend on real world goods. That gateway will need your identity if it is legit, so eventually, you will be able to be connected to your transactions. Since the blockchain is not going anywhere anytime soon, that is a very long time to have evidence of a crime in a public place
If you would not do it with fiat, do not do it with bitcoin. They have been lax up to this point, that is changing as we speak
And I would drop bitcoin like a hot potato if they banned it.
January 06, 2018, 01:49:46 PM
Goverment can stop everything)))
If there only was one global one and if people were programmed to obey... Fortunately for us the truth is much different
Yes because some governments will still consider it legal, so you will still have countries to cash out
Are you here just for that? To measure profit in terms of fiat and exit cryptocurrency as soon as that profit is reached?
I pity you if you're only worried about cashing out.
January 06, 2018, 01:01:05 PM
I would say the more pressing question is: Would it still be beneficial for you to keep using Bitcoin if it's declared illegal?
We know Bitcoin can be priced differently per market as we've seen in countries like Venezuela where demand is higher than normal. Bitcoin being declared illegal will almost certainly cause the price to plummet in that market because it cuts off demand. It will also be much harder to liquidate with exchanges unable to deal with them, among many other factors. There are lots of ways to cover your tracks to be able to get around bans, sure, but these considerations may just turn off the average user, if the threat of jail doesn't do that first.
If you're a whale though, it may be possible to just fly out and liquidate small amounts, though I'm not sure about the implications.
We know Bitcoin can be priced differently per market as we've seen in countries like Venezuela where demand is higher than normal. Bitcoin being declared illegal will almost certainly cause the price to plummet in that market because it cuts off demand. It will also be much harder to liquidate with exchanges unable to deal with them, among many other factors. There are lots of ways to cover your tracks to be able to get around bans, sure, but these considerations may just turn off the average user, if the threat of jail doesn't do that first.
If you're a whale though, it may be possible to just fly out and liquidate small amounts, though I'm not sure about the implications.
January 06, 2018, 12:09:24 PM
The main objective Bitcoin was created for is to have decentralized currency, for p2p transactions. That means no third party is involved, no banks nor governments. The only thing a government can do is to ban exchanges. So you'll need foreign exchanges if you want to cash out.
January 06, 2018, 12:02:19 PM
Goverment can stop everything)))
Nope they cant. Because it is just common that rich people can control the law. And also there are times that a government also is making profits with this so called bitcoin. Different countries different problems, so it maybe illegal in other places, it is legal in other places. So if your country has rich businessmen who invested in bitcoin, they can always make some leeway to escape tax.
January 06, 2018, 11:05:55 AM
Bitcoin and other cryptocurrencies are right now making a big buzz and though 2017 is one of its most controversial year there are still more with this industry that will continue on creating a stir as it is entering the mainstream of the population. because of its increasing popularity, countries and their financial leaders are now forced to look at Bitcoin seriously and come up with the decision either to open up their country legally or follow the path decide on by China last September. The choice is theirs to make as we individually could not do so much about it except voicing our opinions if given the chance to say anything. Certainly, there are countries which do not recognize Bitcoin and are asking their citizens not to get involved with it warning that Bitcoin can be just another ponzi in the making.
Now, if you happen to be a residing citizen of a country that is banning Bitcoin will you still discreetly involved with it in the face of some possible sanctions?
Drugs and rave parties are banned in majority of the countries, but it still exists in the society in almost every countries. So it doesn't matter if my government bans bitcoin. I will continue to use it. Probably I will have to take some precautions and can't use it openly the way I am doing now, but won't stop using bitcoin. Government can issue a notification and ban it but they need to have proper infrastructure to catch it. Thankfully my government doesn't have such infrastructure in place. Also small amount transactions will not raise any alarm as well.
I believe, bitcoin is a life changing innovation to many. A lot of people are earning a decent amount of money from crypto and living a decent life. If the government can't provide a job to them, they also don't have the right to take away their fundamental rights of earning money. So no matter what my government thinks, I will continue to use it.
January 06, 2018, 10:55:51 AM
Goverment can stop everything)))
January 06, 2018, 10:34:50 AM
A single country bannonv cryptocurrency would allow for a global field of competition in the finance sector. Those countries with Bitcoin banned would lose out in developing the necessary backbone for such an economy to flourish.
January 06, 2018, 10:32:39 AM
Bitcoin and other cryptocurrencies are right now making a big buzz and though 2017 is one of its most controversial year there are still more with this industry that will continue on creating a stir as it is entering the mainstream of the population. because of its increasing popularity, countries and their financial leaders are now forced to look at Bitcoin seriously and come up with the decision either to open up their country legally or follow the path decide on by China last September. The choice is theirs to make as we individually could not do so much about it except voicing our opinions if given the chance to say anything. Certainly, there are countries which do not recognize Bitcoin and are asking their citizens not to get involved with it warning that Bitcoin can be just another ponzi in the making.
Now, if you happen to be a residing citizen of a country that is banning Bitcoin will you still discreetly involved with it in the face of some possible sanctions?
January 06, 2018, 09:15:15 AM
you have to distinguish here if it is declared illegal for general public
or is prohibited to use by financial institutions like banks,exchanges and such
if you take China,for example,they banned bitcoins
in reality,general public can trade or use bitcoins allright
it is just that they will have to use foreign exchanges and such to do so
so even if it is declared illegal,like in Venezuella where it is illegal completely
people will find ways to circumvent the ban,I would most certainly do so
or is prohibited to use by financial institutions like banks,exchanges and such
if you take China,for example,they banned bitcoins
in reality,general public can trade or use bitcoins allright
it is just that they will have to use foreign exchanges and such to do so
so even if it is declared illegal,like in Venezuella where it is illegal completely
people will find ways to circumvent the ban,I would most certainly do so
January 06, 2018, 08:32:45 AM
Yes because some governments will still consider it legal, so you will still have countries to cash out
January 06, 2018, 08:30:34 AM
Bitcoin and other cryptocurrencies are right now making a big buzz and though 2017 is one of its most controversial year there are still more with this industry that will continue on creating a stir as it is entering the mainstream of the population. because of its increasing popularity, countries and their financial leaders are now forced to look at Bitcoin seriously and come up with the decision either to open up their country legally or follow the path decide on by China last September. The choice is theirs to make as we individually could not do so much about it except voicing our opinions if given the chance to say anything. Certainly, there are countries which do not recognize Bitcoin and are asking their citizens not to get involved with it warning that Bitcoin can be just another ponzi in the making.
Now, if you happen to be a residing citizen of a country that is banning Bitcoin will you still discreetly involved with it in the face of some possible sanctions?
Really tough question. What if your mean source of income is crypto trading? Where are you going to get money then to feed your family? Are you willing to take the risk and continue underground or probably used VPN to cover up your tracks? What if your government finds out? Are you willing to face the reality that you might be put in prison because you defy the order of the government? As for me, I wouldn't go man, its too risky for me and my family, only options is to go out and go to a friendly bitcoin country. But its gonna be very hard and a lot of adjustments has to be made.
I guess this should be a wake up call for everyone to really save and have other plans in case your country decided to put a hammer ban.
January 06, 2018, 08:04:57 AM
Bitcoin and other cryptocurrencies are right now making a big buzz and though 2017 is one of its most controversial year there are still more with this industry that will continue on creating a stir as it is entering the mainstream of the population. because of its increasing popularity, countries and their financial leaders are now forced to look at Bitcoin seriously and come up with the decision either to open up their country legally or follow the path decide on by China last September. The choice is theirs to make as we individually could not do so much about it except voicing our opinions if given the chance to say anything. Certainly, there are countries which do not recognize Bitcoin and are asking their citizens not to get involved with it warning that Bitcoin can be just another ponzi in the making.
Now, if you happen to be a residing citizen of a country that is banning Bitcoin will you still discreetly involved with it in the face of some possible sanctions?
I wouldn't, because I don't want to get involve on something illegal due to some punishments I may face if I defy the law that they implement. And also, I came here in bitcoin to have a more feasible life and if I violate them that's not what going to happen, but the reverse of it if I get caught by authorities doing transactions using bitcoin. But let's just hope it won't befall, because if it does, all we can do is to accept it, nothing more!
January 06, 2018, 07:45:11 AM
Bitcoin and other cryptocurrencies are right now making a big buzz and though 2017 is one of its most controversial year there are still more with this industry that will continue on creating a stir as it is entering the mainstream of the population. because of its increasing popularity, countries and their financial leaders are now forced to look at Bitcoin seriously and come up with the decision either to open up their country legally or follow the path decide on by China last September. The choice is theirs to make as we individually could not do so much about it except voicing our opinions if given the chance to say anything. Certainly, there are countries which do not recognize Bitcoin and are asking their citizens not to get involved with it warning that Bitcoin can be just another ponzi in the making.
Now, if you happen to be a residing citizen of a country that is banning Bitcoin will you still discreetly involved with it in the face of some possible sanctions?
If the punishment is heavy like to go to jail or death of course i will stop but if it will just slight as just to pay penalty fees then i will still going to trade and invest bitcoin because we have lots of ways not to be caught like using VPN and to request friends or relatives in abroad to do transactions for me in which the most safest way.
January 06, 2018, 06:10:42 AM
if the government of your country banish bitcoin then nothing that the people of that country can do, because banks, exchange and all actors that directly or indirectly allow you to buy and sell bitcoin will not accept that you buy and sell bitcoins. see for example my case, I am from a country that is restricted to using bitcoin debit card, so I can spend my bitcoins in my country I have to pay many fees and do lots of processes. Sometimes it becomes very annoying the processes that I must do so that I have my bitcoins in my bank account of my country.
January 05, 2018, 10:20:34 PM
Bitcoin and other cryptocurrencies are right now making a big buzz and though 2017 is one of its most controversial year there are still more with this industry that will continue on creating a stir as it is entering the mainstream of the population. because of its increasing popularity, countries and their financial leaders are now forced to look at Bitcoin seriously and come up with the decision either to open up their country legally or follow the path decide on by China last September. The choice is theirs to make as we individually could not do so much about it except voicing our opinions if given the chance to say anything. Certainly, there are countries which do not recognize Bitcoin and are asking their citizens not to get involved with it warning that Bitcoin can be just another ponzi in the making.
Now, if you happen to be a residing citizen of a country that is banning Bitcoin will you still discreetly involved with it in the face of some possible sanctions?
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