Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: MrSpasybo on December 24, 2023, 02:43:21 PM
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Recently, Nigerian government lifted the ban on banks involved in crypto-enabled services. Of course, this is beneficial for the crypto market in this country, but even before this authorization, the crypto market in Nigeria was already very developed through P2P.
“The ban by CBN on Nigerian banks from aiding crypto transactions made P2P merchants dominant in the first place. The ban was supposed to stamp out Bitcoin and crypto use in Nigeria. Instead, the crypto community turned to peer-to-peer trades or sending payments directly to each other.”
Source: Nigerian crypto exchanges and P2P merchants brace for battle post ban lift (https://cointelegraph.com/news/nigerian-crypto-exchanges-and-p2p-merchants-brace-for-battle-post-ban-lift).
This once again shows the independence of transactions on blockchain from the management or permission of countries. China has banned crypto, but people can still buy, sell and store crypto assets without too much difficulty. It is this intense existence that has forced governments to be more serious when considering and accepting the existence and operation of crypto. Taxes, job opportunities, foreign investment are the things that every government wants to develop the country.
I believe that the wave of crypto adoption will soon spread globally, not only in El Salvador or Argentina, many other countries will soon have a clear legal framework to manage and collect taxes from this market. Large institutions have participated such as BlackRock, Vanguard, Fidelity, now it is the turn of governments.
Does your country have a plan to accept crypto? Are you willing to use crypto as a legal payment method alongside fiat currency?
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Legal legislation changes over time, and therefore banning Bitcoin or allowing trading will not benefit investors unless there is a clear law explaining how to deal with cryptocurrencies, the exchanges that are allowed, the registration conditions, and the accompanying tax data. If there is no clear legal legislation in your country, it is better to buy Bitcoin not trading, but rather a long-term investment.
The only difference is that after the ban is lifted, there will be a greater possibility of the existence of exchanges, and therefore the commission fees are lower (in P2P it is high), in addition to the possibility of trading and other options.
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True. Cryptocurrency markets can function without direct government authorization due to their decentralized nature, facilitated by blockchain technology.
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Here in our country, we have local crypto exchanges, and our government accepts applications that will follow their rules. In short, the government of our country is open about the cryptocurrency business.
But there are still other exchanges that, even without any approval from our government, can still exist and operate here in our country, like Binance. Only this time, there is an issue that must be fixed because if Binance does not fix it, the IP will be blocked by Binance here in the country, and it has been given 90 days to fix this problem.
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But there are still other exchanges that, even without any approval from our government, can still exist and operate here in our country, like Binance. Only this time, there is an issue that must be fixed because if Binance does not fix it, the IP will be blocked by Binance here in the country, and it has been given 90 days to fix this problem.
Yes, Binance and global platforms can work anywhere, but they will be limited to exchanging cryptocurrencies and you still need P2P if you want to withdraw local currency. Local platforms allow you to easily link your bank account or bank card and withdraw or deposit your money and convert it into cryptocurrencies.
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In my country the use of cryptocurrencies is legal. You can pay with cryptocurrency at merchants that accept it, and there are even dedicated physical stores (and many ATMs) where you can buy and sell cryptocurrency. There is no problem in using them as long as the tax agency is aware that you have them, although that is something that almost no one does. As time goes on, countries will see greater adoption of cryptocurrencies, but in some of those countries the restrictions will likely be greater for users.
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True. Cryptocurrency markets can function without direct government authorization due to their decentralized nature, facilitated by blockchain technology.
I live in Ukraine and its government has always been favorable towards cryptocurrency. At first, several bills even appeared that provided for a zero tax rate. But now Ukraine is going through difficult times, repelling the invasion of the racist army. Therefore, a tax on profits from cryptocurrency will most likely be introduced. In the meantime, cryptocurrency circulates absolutely freely in Ukraine.
If desired, the state and its government can greatly influence the circulation of cryptocurrency if it strictly controls exchanges and exchangers. You can send cryptocurrency to each other without government permission, but then you still have to go to exchanges and exchangers.
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It is true that crypto markets or exchanges can still exist and operate without permission from the government. But unfortunately, not everything can run smoothly. maybe there will still be problems in cashing out into fiat in our bank account. However, actually this can all be overcome with P2P, we just have to be smart and be careful when choosing P2P. It would be better if the government legalized exchange to make all transactions easier.
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It is true that crypto markets or exchanges can still exist and operate without permission from the government. But unfortunately, not everything can run smoothly. maybe there will still be problems in cashing out into fiat in our bank account. However, actually this can all be overcome with P2P, we just have to be smart and be careful when choosing P2P. It would be better if the government legalized exchange to make all transactions easier.
We can already be convinced that the government’s attitude towards cryptocurrency is crucial for its circulation within the country. No matter what we say, the government has the ability to control the work of crypto exchanges and exchangers that are registered on its territory. And if states and their governments unite, they will be able to dictate the conditions for the circulation of cryptocurrency almost throughout the entire planet. People can freely make cryptocurrency transactions among themselves and do not need government permission for this. However, cryptocurrency will simply survive and its price will be extremely low if there is no free exchange of it for fiat. And governments will always be able to control such exchanges.
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In my country the use of cryptocurrencies is legal. You can pay with cryptocurrency at merchants that accept it, and there are even dedicated physical stores (and many ATMs) where you can buy and sell cryptocurrency. There is no problem in using them as long as the tax agency is aware that you have them, although that is something that almost no one does. As time goes on, countries will see greater adoption of cryptocurrencies, but in some of those countries the restrictions will likely be greater for users.
In Vietnam, we have crypto in a gray zone, meaning government does not prohibit nor encourage people to hold or buy and sell crypto, it just cannot be used for payment on behalf of fiat. This is quite dangerous because investors are not protected against fraud in this very new market, but other investors like it because they do not have to pay taxes on profits from crypto investment.
Vietnamese government does not like this and they are preparing a legal framework to manage the market. I think their purpose is to tax crypto to supplement the budget, which is always in deficit. I believe that blockchain technology will always develop, but too high a tax rate can stifle the development of crypto market.
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Vietnamese government does not like this and they are preparing a legal framework to manage the market. I think their purpose is to tax crypto to supplement the budget,
This was my first thought when my country Nigeria released their ban in cryotocurrency. I felt they just found another method to gain more revenues.if you cant beat them join them is the approach they using. They well aware that her citizens are still dealing with cryptos so why the formalities when they can approve of it and gain returns.
Back to the topic cryotocurrency can exist without government permission as could be seen by china but the growth of adoption would be limited and individual could be easily exploited and cheated.
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Recently, Nigerian government lifted the ban on banks involved in crypto-enabled services. Of course, this is beneficial for the crypto market in this country, but even before this authorization, the crypto market in Nigeria was already very developed through P2P.
This once again shows the independence of transactions on blockchain from the management or permission of countries. China has banned crypto, but people can still buy, sell and store crypto assets without too much difficulty. It is this intense existence that has forced governments to be more serious when considering and accepting the existence and operation of crypto. Taxes, job opportunities, foreign investment are the things that every government wants to develop the country.
It's a great news indeed, but that doesn't mean that we should underestimate the power of the government. Sorry to say, the development in Nigeria is not that massive and the government are not living up to expectation, so it was easy for the citizens to find other means without the government knowing. For a well develop country like North Korea where they happen to operate under strict rules, you dare not disobey the order of the government.
I think the Nigeria government have caused enough suffering, so it was best to let the crypto community in Nigeria strive and operate freely, but I think heavy tasks might be coming in frequently.
In conclusion, though the government can not stop the use of crypto currency, but they can make things tough for the crypto community in a particular country, so let's not underestimate their power.
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No matter what we say, the government has the ability to control the work of crypto exchanges and exchangers that are registered on its territory. And if states and their governments unite, they will be able to dictate the conditions for the circulation of cryptocurrency almost throughout the entire planet.
Sure, the government will control the activities of crypto exchanges in their territory because it is their right. I think it is no problem as long as it makes sense. The government must ask the taxes and they probably make the rules to make it secure for any one to use the exchanges.
No, it is impossible that all the government in the world to unite to control exchanges in the world. :D
People can freely make cryptocurrency transactions among themselves and do not need government permission for this. However, cryptocurrency will simply survive and its price will be extremely low if there is no free exchange of it for fiat. And governments will always be able to control such exchanges.
If they sell crypto from their own wallets to other wallets, it is no need CEX. But if people want to trade their coins and want to convert it to fiats, they need CEX. All the CEXs should be controlled by the government. So, it is almost impossible to avoid the government if we use local exchanges.
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Since cryptocurrency integrated the P2P trading opinions, I new that any government of the world will find it very difficult to stop crypto business. I think the options left with the various governments is to try to regulate the sector. obviously crypto has come stay and there no stoping it because it has gone main stream adoptions. I think nations will be coming board in few years to come
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It's a great news indeed, but that doesn't mean that we should underestimate the power of the government. Sorry to say, the development in Nigeria is not that massive and the government are not living up to expectation, so it was easy for the citizens to find other means without the government knowing. For a well develop country like North Korea where they happen to operate under strict rules, you dare not disobey the order of the government.
I think the Nigeria government have caused enough suffering, so it was best to let the crypto community in Nigeria strive and operate freely, but I think heavy tasks might be coming in frequently.
In conclusion, though the government can not stop the use of crypto currency, but they can make things tough for the crypto community in a particular country, so let's not underestimate their power.
I agree with you, government always has enough tools to suppress this market and development of crypto market is directly affected by legal regulations. Crypto bans in China and Russia have made that clear.
North Korea is a special country, where government controls everything and people cannot freely access and use the Internet. Blockchain depends on the Internet so there is no blockchain-style freedom in North Korea.
What I want to say is: governments can do a lot of things, but users can still have access to Internet, to DeFi, to P2P transactions. Even if governments suppress the market in an extreme way, crypto markets will still exist in other countries around the world.
When crypto exists and crypto companies earn billions of dollars in profits every year, governments no longer have a reason to deny this market opportunity 8)
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No it is not possible. The government would ALWAYS strive to control crypto. It is much too powerful a financial instrument to be left floating around for criminals and rogue governments to utilize for their malicious purposes. The US Government through the SEC has made doubly sure about it. Even China and India are getting in on the act of crypto control
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As Bitcoin is a fully decentralized currency, no matter how many government and central bank restrictions are imposed for now, there will be no negative impact on Bitcoin. Because the control system of Bitcoin is not solely with the government and central bank. However, when any government and central bank bans on Bitcoin may temporarily affect the Bitcoin market, Bitcoin investors are not at all worried about government bans. Recently, the Indian government and parliament have imposed a ban on all types of central exchanges, which has not had any impact on the Bitcoin market.
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As Bitcoin is a fully decentralized currency, no matter how many government and central bank restrictions are imposed for now, there will be no negative impact on Bitcoin. Because the control system of Bitcoin is not solely with the government and central bank. However, when any government and central bank bans on Bitcoin may temporarily affect the Bitcoin market, Bitcoin investors are not at all worried about government bans. Recently, the Indian government and parliament have imposed a ban on all types of central exchanges, which has not had any impact on the Bitcoin market.
Not everything is as good as we want it to be. States and their governments, with their common decisions, may well put cryptocurrency on the brink of survival and force it to go illegal, which will collapse the price of cryptocurrency to almost zero. If there is a corresponding decision, say, from the G20 countries, states will close exchanges and exchangers, this will end very badly for cryptocurrency. It’s just that states have not yet finally decided on the future of cryptocurrency and we hope that they will only loyally regulate it and not ban it.
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As Bitcoin is a fully decentralized currency, no matter how many government and central bank restrictions are imposed for now, there will be no negative impact on Bitcoin. Because the control system of Bitcoin is not solely with the government and central bank. However, when any government and central bank bans on Bitcoin may temporarily affect the Bitcoin market, Bitcoin investors are not at all worried about government bans. Recently, the Indian government and parliament have imposed a ban on all types of central exchanges, which has not had any impact on the Bitcoin market.
Not everything is as good as we want it to be. States and their governments, with their common decisions, may well put cryptocurrency on the brink of survival and force it to go illegal, which will collapse the price of cryptocurrency to almost zero. If there is a corresponding decision, say, from the G20 countries, states will close exchanges and exchangers, this will end very badly for cryptocurrency. It’s just that states have not yet finally decided on the future of cryptocurrency and we hope that they will only loyally regulate it and not ban it.
There is always a black market for any product, even if it is illegal. And if the product is in demand, the government can only prohibit legal use. In any case, transfers of funds and their storage are the prerogative of cryptocurrencies. Of course, cashing out for ordinary people will be problematic.
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In my country the use of cryptocurrencies is legal. You can pay with cryptocurrency at merchants that accept it, and there are even dedicated physical stores (and many ATMs) where you can buy and sell cryptocurrency. There is no problem in using them as long as the tax agency is aware that you have them, although that is something that almost no one does. As time goes on, countries will see greater adoption of cryptocurrencies, but in some of those countries the restrictions will likely be greater for users.
Nice to hear in your country legalized crypto as payment method, buddy.
In my country the government don't care about crypto. The government didn't against or ban crypto but also didn't legalize it...But no matter with this.
It's better to us..We can do transactions, trading and investment here.
at several countries, crypto has been banned by the government.
It's annoying, yeah really annoying.
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There is always a black market for any product, even if it is illegal. And if the product is in demand, the government can only prohibit legal use. In any case, transfers of funds and their storage are the prerogative of cryptocurrencies. Of course, cashing out for ordinary people will be problematic.
The prohibition of the black market is much sought after by several groups, although there is also a lot of resistance from some government parties, as long as there are no suspicious cases, it seems that the government will allow it to operate in the country, because cases of loss or fraud in some black markets have never happened, it is legal if being allowed to operate in a large country is of no use and the government prohibits it if the user continues to transact there or save their money there, at least the government can take this into account for the community by providing an illegal market that the community can use, in order to prevent things that are not desired, that is if several governments in any country are willing to legalize the Crypto Currency market...
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Recently, Nigerian government lifted the ban on banks involved in crypto-enabled services. Of course, this is beneficial for the crypto market in this country, but even before this authorization, the crypto market in Nigeria was already very developed through P2P.
“The ban by CBN on Nigerian banks from aiding crypto transactions made P2P merchants dominant in the first place. The ban was supposed to stamp out Bitcoin and crypto use in Nigeria. Instead, the crypto community turned to peer-to-peer trades or sending payments directly to each other.”
Source: Nigerian crypto exchanges and P2P merchants brace for battle post ban lift (https://cointelegraph.com/news/nigerian-crypto-exchanges-and-p2p-merchants-brace-for-battle-post-ban-lift).
This once again shows the independence of transactions on blockchain from the management or permission of countries. China has banned crypto, but people can still buy, sell and store crypto assets without too much difficulty. It is this intense existence that has forced governments to be more serious when considering and accepting the existence and operation of crypto. Taxes, job opportunities, foreign investment are the things that every government wants to develop the country.
Nigeria has been crypto friendly, CBN and it's monetary policy never interfere with crypto mnot until protests that later turned self interest where hoodlums spoilt and burn a lot of government property and because of the losses both human and properties, the government took a decision to prevent banks from aiding bitcoin and crypto transactions(not completely ban) but even with that, I don't see anything they stop because crypto adoption has grown stronger ever than before, no changes.
The only thing reason I think the government allow banks to make transactions of bitcoin now is because they are not seeing remitance since they stopped making dollars to tbe people and they want to tap from the money and investment that are going into the foreign investment, this is why I think the allow banks to process transactions but the banks are not allow to personally but or trade cryptos.
I believe that the wave of crypto adoption will soon spread globally, not only in El Salvador or Argentina, many other countries will soon have a clear legal framework to manage and collect taxes from this market. Large institutions have participated such as BlackRock, Vanguard, Fidelity, now it is the turn of governments.
Does your country have a plan to accept crypto? Are you willing to use crypto as a legal payment method alongside fiat currency?
Even Argentina new president is doing what will only benefit his second tenure, he doesn't care that much for the county to become crypto hub. Politicians are very corny, liars and do what benefits them. But if he legalized it, then I might begin it trust him to some levels but it's to early to trust this guys, don't trust the government with cryptos.
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There is a stepping stone to being able to accept cryptocurrency because this cryptocurrency has something very complex and in fact I think this is a good first step.
If we can get past this rock surge, then we can be successful in the future. This means that if cryptocurrency is accepted by the government, this will definitely benefit us as a crypto community.
But unfortunately, in my place, cryptocurrency regulations are not recommended to own or buy because the government also doesn't want to be responsible for losing our assets that we have in cryptocurrency.
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Actually, it is true that crypto exchanges can exist without government. and this can also run very well without government, it can be tax free too. but unfortunately, there are times when the government really makes strict rules regarding exchanges so that exchanges in that country have to follow the rules that are made. and if not, then no one can operate in that country. not even able to cash out on the exchange. unless it is online only and can be P2P and very safe.
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There is a stepping stone to being able to accept cryptocurrency because this cryptocurrency has something very complex and in fact I think this is a good first step.
If we can get past this rock surge, then we can be successful in the future. This means that if cryptocurrency is accepted by the government, this will definitely benefit us as a crypto community.
But unfortunately, in my place, cryptocurrency regulations are not recommended to own or buy because the government also doesn't want to be responsible for losing our assets that we have in cryptocurrency.
Crypto is decentralized and governments can only restrict it, not ban it. The trading network only needs the Internet and VPN to operate, and the government cannot check every person and jail thousands of people. The best way the government can do is to research and promulgate a legal framework for crypto soon, then the government will be able to collect taxes from crypto and protect people from scammers in this market.
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Actually, it is true that crypto exchanges can exist without government. and this can also run very well without government, it can be tax free too. but unfortunately, there are times when the government really makes strict rules regarding exchanges so that exchanges in that country have to follow the rules that are made. and if not, then no one can operate in that country. not even able to cash out on the exchange. unless it is online only and can be P2P and very safe.
The government can not let you have a free market and then see you rake in profits and allow you go without a tax, you will definitely pay tax to them, they see tax as their birth right. However I think the existence of government in crypto will bring some sanity to the crypto even though I know how cunny they with the at they attack the existence of crypto.
I don't think we can deny the fact that government has play a role in this bitcoin, we have some bad guys here that hide under the umbrella of bitcoin and other cryptocurrency but because the government is looking at crypto, it's preventing them from coming here which is a win win for crypto and the government because crypto is doing his thing and the government can't control it.
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Cryptocurrencies are still not legal in many countries. Cryptocurrency is even officially illegal in my country where I live. Still I think a lot of people in our country are using crypto currency and are involved with it. Although there are some government regulations and laws related to cryptocurrencies. Still, many are using crypto-currencies in defiance of the law. Since we are a developing country, there is a possibility that cryptocurrency will become legal in the future.
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The government can not let you have a free market and then see you rake in profits and allow you go without a tax, you will definitely pay tax to them, they see tax as their birth right. However I think the existence of government in crypto will bring some sanity to the crypto even though I know how cunny they with the at they attack the existence of crypto.
I don't think we can deny the fact that government has play a role in this bitcoin, we have some bad guys here that hide under the umbrella of bitcoin and other cryptocurrency but because the government is looking at crypto, it's preventing them from coming here which is a win win for crypto and the government because crypto is doing his thing and the government can't control it.
I believe that, if desired, the government has many ways to limit people's access to crypto: blocking websites, investigating - fining - imprisoning people who intentionally interact with crypto. However, to do so, the government will need to spend huge efforts and promulgate a legal framework to manage this market.
And no matter how hard they try, the crypto market continues to exist in their country through VPN, OTC or other clever ways. At the same time, the government will lose a huge tax source from the extremely fast growing crypto market.
The best way is that they will find a way to manage and collect taxes. They will not lose votes and help the economy develop better.
Cryptocurrencies are still not legal in many countries. Cryptocurrency is even officially illegal in my country where I live. Still I think a lot of people in our country are using crypto currency and are involved with it. Although there are some government regulations and laws related to cryptocurrencies. Still, many are using crypto-currencies in defiance of the law. Since we are a developing country, there is a possibility that cryptocurrency will become legal in the future.
I agree! I believe that after the wave of BTC adoption by large WallStreet investment funds, governments will also participate as El Salvador or Argentina. We may soon see national CEXs, clear regulations and income tax rates for crypto.
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Yes, the cryptocurrency system will continue to make waves around the world. The system doesn't need the authority of the government to function, but it can be pressured by the government to reduce adoption. While the CBN of Nigeria banned cryptocurrency transactions in all banks, the government was not against citizens investing in Bitcoin. If they were really against it, then it wouldn't have been possible for citizens to freely invest in it.
In my country, there is no ban on cryptocurrency, adoption is free, and there are different exchanges that allow P2P here where citizens can easily deposit Fiat on the exchange and acquire some Bitcoin or other cryptocurrency with the money before withdrawing to their exchange.
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it should be possible. Currently there are also many DEXs that we usually use which certainly do not need legal permission from the government. and this makes it easier for all of us who want to use the exchange without KYC with ID, or having to pay tax for every transaction. However, if it is a CEX and it is in a certain country, then there is no choice but to comply with the regulations in that country. or the government will force the exchange to deactivate or not legalize its operations and this will definitely have a bad impact on reputation. Even though we don't expect control from the government, sometimes regulations are very restrictive and increasingly controlling.
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it should be possible. Currently there are also many DEXs that we usually use which certainly do not need legal permission from the government. and this makes it easier for all of us who want to use the exchange without KYC with ID, or having to pay tax for every transaction. However, if it is a CEX and it is in a certain country, then there is no choice but to comply with the regulations in that country. or the government will force the exchange to deactivate or not legalize its operations and this will definitely have a bad impact on reputation. Even though we don't expect control from the government, sometimes regulations are very restrictive and increasingly controlling.
Yeah, DEX is operated by a protocol, does not need an individual or organization to manage and operate, and CEX is a registered company and needs to fulfill legal obligations with the government. In case CEXs are banned, people can still trade via DEXs very easily and without anyone's permission. The government should allow crypto and find ways to manage it to collect additional taxes for the national budget.
While the CBN of Nigeria banned cryptocurrency transactions in all banks, the government was not against citizens investing in Bitcoin. If they were really against it, then it wouldn't have been possible for citizens to freely invest in it.
I don't really understand how the government can prohibit people from accessing, trading and owning BTC. As we said, CEXs are not the only option, people can trade via OTC or outside services easily. The government can impose heavy penalties for buying, selling or owning BTC, but the government does not have enough human and financial resources to carry out such a complicated job: they cannot check each address and trace its owner.
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I thought my country would not accept crypto as a means of payment, but they only want taxes on crypto, exchanges in my country are taxed.
making payments with crypto I don't think I will do it because in my opinion if you pay for something with crypto it is very lossy if the price of crypto is low
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I thought my country would not accept crypto as a means of payment,
As far as I know, cryptocurrency is Peer To Peer trading between traders without any involvement of third parties such as banks, governments or dealers.
The government is a third party and I am sure that they only impose cryptocurrency taxes to gain benefits for equal distribution of income in the country. Hmmm
Since the past and when Bitcoin was first created, it has been a digital asset for Peer To Peer trading, with this understanding, if the government does not have a stake in cryptocurrency, nothing will happen.
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As far as I know, cryptocurrency is Peer To Peer trading between traders without any involvement of third parties such as banks, governments or dealers.
The government is a third party and I am sure that they only impose cryptocurrency taxes to gain benefits for equal distribution of income in the country. Hmmm
Since the past and when Bitcoin was first created, it has been a digital asset for Peer To Peer trading, with this understanding, if the government does not have a stake in cryptocurrency, nothing will happen.
When you look at the whitepaper owned by Bitcoin and distributed in the early years Bitcoin was created, it is written that the initial plan was to create a single currency whose circulation could not be controlled by the government or other people because the price movements were regulated by ourselves, but now it seems like the government is starting to get into cryptocurrency by providing some regulations for the use of cryptocurrency in its country.
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Re: Crypto markets can exist without government permission
The government has 3 choices. It's either they will ban it, they will accept it like what El Salvador did, or they will just remain neutral on it.
In our country, our government didn't say anything about cryptocurrency. No regulations, no ban whatsoever. What they're doing is just to give advices, and warnings to us investors to beware of scammers, and phishing attacks. Crypto markets can just exist without the permission of the government because at first place, they're aren't the ones who did it. I guess the good thing that they can do is to just give warnings to people like what our government is doing.
Unfortunately, there are some governments who are banning their people to use cryptocurrencies. Well anyway, crypto will continue to exists anyway. People will always find way to have access on it, and the government will either continue to ban it or just let other people have access on it.
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When you look at the whitepaper owned by Bitcoin and distributed in the early years Bitcoin was created, it is written that the initial plan was to create a single currency whose circulation could not be controlled by the government or other people because the price movements were regulated by ourselves,
So far, I only know Bitcoin and only trade it in various markets, but for the Bitcoin whitepaper, it seems I have passed that information.
That is, it turns out that Bitcoin was initially given for free to those who knew at the beginning about the creation of Bitcoin.
Lucky are those who know about Bitcoin at the beginning when it was first created.
but now it seems like the government is starting to get into cryptocurrency by providing some regulations for the use of cryptocurrency in its country.
Yeps, I also see that in the country I live in, there are lots of regulations regarding cryptocurrency which ultimately seem to narrow the space for cryptocurrency.
If it's like this, it means the government needs Bitcoin and Bitcoin doesn't need the government to be able to live in various markets.
The real proof is that there are now many regulations given by the government regarding the presence of Bitcoin.
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but now it seems like the government is starting to get into cryptocurrency by providing some regulations for the use of cryptocurrency in its country.
Yeps, I also see that in the country I live in, there are lots of regulations regarding cryptocurrency which ultimately seem to narrow the space for cryptocurrency.
If it's like this, it means the government needs Bitcoin and Bitcoin doesn't need the government to be able to live in various markets.
The real proof is that there are now many regulations given by the government regarding the presence of Bitcoin.
Regulations are needed to govern its citizens. Although this doesn't mean the country needs bitcoin, it means the country needs to regulate its citizens. The state gets taxes from crypto transactions carried out by its citizens as a return for the join given by the state to its citizens.
Crypto with or without the government will always exist but If crypto has been allowed by the government, we will feel more comfort and safer.
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but now it seems like the government is starting to get into cryptocurrency by providing some regulations for the use of cryptocurrency in its country.
The real proof is that there are now many regulations given by the government regarding the presence of Bitcoin.
Crypto with or without the government will always exist but If crypto has been allowed by the government, we will feel more comfort and safer.
That's right, that's the government's function regarding Bitcoin. The tax that is emphasized for cryptocurrency trading is what makes me feel uncomfortable because Bitcoin was previously banned in my country.
But after the boom in all cryptocurrencies including Bitcoin, the government is back by providing taxes to all cryptocurrency traders.
It is indeed safe and comfortable if cryptocurrency is legalized in a country, but in the country I live in, it seems like the government is just playing with cryptocurrency traders, as I discussed in the first paragraph.
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but now it seems like the government is starting to get into cryptocurrency by providing some regulations for the use of cryptocurrency in its country.
Yeps, I also see that in the country I live in, there are lots of regulations regarding cryptocurrency which ultimately seem to narrow the space for cryptocurrency.
If it's like this, it means the government needs Bitcoin and Bitcoin doesn't need the government to be able to live in various markets.
The real proof is that there are now many regulations given by the government regarding the presence of Bitcoin.
Regulations are needed to govern its citizens. Although this doesn't mean the country needs bitcoin, it means the country needs to regulate its citizens. The state gets taxes from crypto transactions carried out by its citizens as a return for the join given by the state to its citizens.
Crypto with or without the government will always exist but If crypto has been allowed by the government, we will feel more comfort and safer.
Actually it is all about taxation and about citizens security , look at how much scamming happening in crypto world now so what more if government will not interfere ? what can we expect in the long years now , yeah we have being taxed specially in decentralized and anonymous market but if we wanted to play long time here we have no choice but to abide with the government .
yeah we can use crypto without government but government will not allowed the use of this so best to deal with both parties.
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Does your country have a plan to accept crypto? Are you willing to use crypto as a legal payment method alongside fiat currency?
There are local exchanges in our country that allow exchanging cryptocurrency legally because they are registered with the SEC government. So this means that our country is not strict with cryptocurrency as long as the local exchanges that we have here, like Coinsph and Gcrypto, are regulated by our government.
Although Binance here in our country seems to want to be blocked by our government if it does not comply with the requirements that need to be submitted by the platform,.
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I thought my country would not accept crypto as a means of payment, but they only want taxes on crypto, exchanges in my country are taxed.
making payments with crypto I don't think I will do it because in my opinion if you pay for something with crypto it is very lossy if the price of crypto is low
Bitcoin is not legalized in my country like your country so it will never be possible to accept payment through Bitcoin in my country. For now there won't be any negative impact on Bitcoin for my country. Bitcoin is not influenced by the world's most populous countries, especially China and India, which hold more than 40% of the world's population, but even if these two countries ban cryptocurrencies, it is not possible to make any changes in the Bitcoin market. For the time being, I think no government in the world can do any harm to the Bitcoin market.
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Governments may not directly regulate these cryptocurrencies. There are many countries where cryptocurrencies are banned outright but still people of those countries are using cryptocurrencies. If the government of those countries could completely control the cryptocurrency in their country, then the users would never be able to use the cryptocurrency from within the country. However, we as crypto users will always expect that no country's government can ever fully control cryptocurrencies. Because if you directly control the crypto currency, users from many countries will not be able to use it in any way.
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Governments may not directly regulate these cryptocurrencies. There are many countries where cryptocurrencies are banned outright but still people of those countries are using cryptocurrencies. If the government of those countries could completely control the cryptocurrency in their country, then the users would never be able to use the cryptocurrency from within the country. However, we as crypto users will always expect that no country's government can ever fully control cryptocurrencies. Because if you directly control the crypto currency, users from many countries will not be able to use it in any way.
Indeed, basically, the government cannot regulate or control anything regarding the circulation of cryptocurrency, but so far, the government has succeeded in entering the world of cryptocurrency, and several countries have banned the use of cryptocurrency. But there are also governments that are aware of the increasingly developing technology, so their countries are allowed to develop with new technology. such as several countries that have received permission to use cryptocurrency from their governments.
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the government cannot regulate or control anything regarding the circulation of cryptocurrency, but so far, the government has succeeded in entering the world of cryptocurrency, and several countries have banned the use of cryptocurrency. But there are also governments that are aware of the increasingly developing technology, so their countries are allowed to develop with new technology. such as several countries that have received permission to use cryptocurrency from their governments.
That's the fact, several countries ban bitcoin and crypto, but there are the government which allow and legalize bitcoin. So, I think bitcoin will exist although the government doesn't permit it.
As in my country, the government didn't legalize but didn't ban too. The citizens can do investing and also trading in bitcoin and crypto.
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No it is not possible. The government would ALWAYS strive to control crypto. It is much too powerful a financial instrument to be left floating around for criminals and rogue governments to utilize for their malicious purposes. The US Government through the SEC has made doubly sure about it. Even China and India are getting in on the act of crypto control
I think No one can control crypto, although the government. US, Chinese and India , I know They want to do, but It's impossible.
The Government just make regulations to reduce misused of crypto , for illegal activities or money laundering. Crypto currency will always exist.
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Since cryptocurrency integrated the P2P trading opinions, I new that any government of the world will find it very difficult to stop crypto business. I think the options left with the various governments is to try to regulate the sector. obviously crypto has come stay and there no stoping it because it has gone main stream adoptions. I think nations will be coming board in few years to come
As crypto lovers, that invest in crypto we also need the feel of safe and comfort. So I want the government have regulations for crypto currency. Any government can stop crypto, it's true .But as citizen we should comply with government regulations, if the government don't permit the crypto.
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If we talk crypto market can exist without government permission, I think It will be exist. At several countries the government has banned bitcoin at the past, their citizens still invest and trade in bitcoin.
So, I think It's not big matter.
But BTW, we will more comfort if the government have regulation and allow crypto.
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Recently, Nigerian government lifted the ban on banks involved in crypto-enabled services. Of course, this is beneficial for the crypto market in this country, but even before this authorization, the crypto market in Nigeria was already very developed through P2P.
“The ban by CBN on Nigerian banks from aiding crypto transactions made P2P merchants dominant in the first place. The ban was supposed to stamp out Bitcoin and crypto use in Nigeria. Instead, the crypto community turned to peer-to-peer trades or sending payments directly to each other.”
Source: Nigerian crypto exchanges and P2P merchants brace for battle post ban lift (https://cointelegraph.com/news/nigerian-crypto-exchanges-and-p2p-merchants-brace-for-battle-post-ban-lift).
This once again shows the independence of transactions on blockchain from the management or permission of countries. China has banned crypto, but people can still buy, sell and store crypto assets without too much difficulty. It is this intense existence that has forced governments to be more serious when considering and accepting the existence and operation of crypto. Taxes, job opportunities, foreign investment are the things that every government wants to develop the country.
I believe that the wave of crypto adoption will soon spread globally, not only in El Salvador or Argentina, many other countries will soon have a clear legal framework to manage and collect taxes from this market. Large institutions have participated such as BlackRock, Vanguard, Fidelity, now it is the turn of governments.
Does your country have a plan to accept crypto? Are you willing to use crypto as a legal payment method alongside fiat currency?
There has always been a mechanism working in the human world - if it is forbidden but you really want it, there will be "alternative" solutions :)
This is about the realization of P2P exchanges and "underground" crypto exchanges. The state and man are so organized that one will write laws and create restrictions (by the way - often logical), and man will look for ways to bypass these restrictions. This is an eternal process...
Regarding the full-fledged and official use of cryptocurrency with fiat - I understand the issue is to accept it as an asset to pay for goods and services ?
Personally, in my country, Ukraine, all sorts of experiments have been going on for a long time - from accepting payments in large networks, to exchanges and crypto ATMs. However, until today, there is no unified and comprehensive legal framework that gives clear concepts of what cryptocurrency is and how it can be used, what are the limitations, etc. At the end of last year, the situation began to change and several versions of laws were proposed, which are now under consideration and forming the final version.
Preliminarily, I can say that cryptocurrency will not be accepted as an official means of payment, but will be a digital asset with all the properties - from exchange for fiat/value offset to taxation.
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Preliminarily, I can say that cryptocurrency will not be accepted as an official means of payment, but will be a digital asset with all the properties - from exchange for fiat/value offset to taxation.
This is what happened in my country Indonesia, There is no approval of crypto being used as legal tender, it is strictly prohibited and will get penalties if done intentionally.
My country only provides regulation as a commodity asset, trading and investment instrument as well as some other crypto project developments.
This is growing, and the government is consciously supporting it as well.
But in essence, do not exceed the limits that have been made by the government.
Everything is regulated by the government and local exchanges are also under government rules, so they have to follow them.
Taxation also makes local exchanges have to increase taxes for their users as well.
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- Here in our country when crypto started, our government was not that strict with digital or blockchain technology, so it seems like our country is only asking for regulation. Until now, that's all that's needed here.
Also, how many times has Nigeria lifted the crypto ban, I know that many countries have done this and changed the crypto to something else and then finally lifted the ban on it.
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Well, bitcoin is a revolution, welcome to those who are finding out now.
So, since it is something that allows financial freedom, it is the individuals who must "fight" for it, how?, Well, Mr.OPs You've named a few things
So, the question is not what your government is doing, what you are doing, you exchange bitcoin, you sell, you buy, you try to find your financial freedom.
In my country the use of bitcoin is allowed, but there are conditions that are managed in a gray legal point.
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Well, bitcoin is a revolution, welcome to those who are finding out now.
So, since it is something that allows financial freedom, it is the individuals who must "fight" for it, how?, Well, Mr.OPs You've named a few things
So, the question is not what your government is doing, what you are doing, you exchange bitcoin, you sell, you buy, you try to find your financial freedom.
In my country the use of bitcoin is allowed, but there are conditions that are managed in a gray legal point.
At the moment, it is impossible to talk with confidence about the future of cryptocurrency: in various countries, both strict regulation and complete legalization of this market are possible. Most countries are gradually moving towards introducing laws that will regulate the cryptocurrency market.
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Preliminarily, I can say that cryptocurrency will not be accepted as an official means of payment, but will be a digital asset with all the properties - from exchange for fiat/value offset to taxation.
This is what happened in my country Indonesia, There is no approval of crypto being used as legal tender, it is strictly prohibited and will get penalties if done intentionally.
My country only provides regulation as a commodity asset, trading and investment instrument as well as some other crypto project developments.
This is growing, and the government is consciously supporting it as well.
But in essence, do not exceed the limits that have been made by the government.
Everything is regulated by the government and local exchanges are also under government rules, so they have to follow them.
Taxation also makes local exchanges have to increase taxes for their users as well.
And in my opinion this approach is balanced and realizes the interests of all parties ! The state financial system is not exposed to risks (uncontrolled currency flows are risks for the financial system, and this is a matter of state security, no less than the inviolability of borders), the population that wants to develop crypto-industry as a parallel product - receives loyal legislation. As a result - everyone is happy, the state is calm, the population creates a business that brings both income and taxes !
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It is true that crypto market can exist although the government never gave the permission. It is because there are decentralized crypto markets. When it is decentralized, the government can't stop it to exist. Decentralized exchanges in crypto will always grow if there are many people using it. However, some people prefer to choose centralized exchanges because they are easy to convert the coins to fiats on the centralized exchanges.
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Does your country have a plan to accept crypto? Are you willing to use crypto as a legal payment method alongside fiat currency?
Yes here in my country crypto is having a fair regulation. Well, yeah crypto is the best way for me to pay for something that does not compromise my privacy. The only downaside paying with crypto is the high transaction fees though we can choose whatever crypto we wanted that has lower fees but as long as it is supported by our local e-wallets or exchanges that commonly offers services it's all good. For online transactions decentralized crypto is the best for payment and I am happy to use it alongside fiat for day to day basis in the previous years but for now I see crypto more of an investment rather than a payment option. 😅
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I am from Nigeria and your topic was used to site an example of what happened in my country, so I don't have much to say. Since cryptocurrency is now legalized in Nigeria, it has been my joy ever since then, because citizens will no longer be scared of accepting crypto as an alternative means of payment in Nigeria, and customers too will be free to use crypto for payment of goods and services. I will use crypto fo payment when the need comes but if it does not nedd me using crypto, I will use the normal fiat payment method, due to the transaction fee rate currently, it might be an obstacle for businesses to enjoy crypto. I am saying this because I only invest in bitcoin, and I don't have any altcoins. Perhaps does that have litecoin, USDT and dogecoin e.t.c can use them freely.
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Cryptocurrency is illegal in our country. Bangladesh bank which our central bank a circular issued about it.Our central Bank issued a warning about cryptocurrency transection. Even many people has been arrested several times for hold or transection cryptocurrency.
But i think in future our government understand about it’s importance and will legalized it. Because day by day many country declared bitcoin and cryptocurrency as legal currency.
Although our government understand importance About blockchain. And huge people learn Blockchain technology. And our government promoting it. So i think today or tomorrow our government understand importance of cryptocurrency and do legalized it.
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Cryptocurrency is illegal in our country. Bangladesh bank which our central bank a circular issued about it.Our central Bank issued a warning about cryptocurrency transection. Even many people has been arrested several times for hold or transection cryptocurrency.
But i think in future our government understand about it’s importance and will legalized it. Because day by day many country declared bitcoin and cryptocurrency as legal currency.
Although our government understand importance About blockchain. And huge people learn Blockchain technology. And our government promoting it. So i think today or tomorrow our government understand importance of cryptocurrency and do legalized it.
My opinion - the state, as a system with centralized power and financial system, will never give cryptocurrency the same rights as fiat currencies, for one simple reason - the state (power) will not be able to control and ensure the operation of the financial system of the state. If you read, many countries are already implementing CBDC projects . It's a kind of cryptocurrency, but... completely centralized. So most likely we should prepare for the age of CBDC, and hope that cryptocurrency will not be outlawed and given the status of an asset that can be traded/stored.
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Cryptocurrency is illegal in our country. Bangladesh bank which our central bank a circular issued about it.Our central Bank issued a warning about cryptocurrency transection. Even many people has been arrested several times for hold or transection cryptocurrency.
But i think in future our government understand about it’s importance and will legalized it. Because day by day many country declared bitcoin and cryptocurrency as legal currency.
It is sad to hear this, people mustn't be arrested because they have crypto.
People must be afraid to have crypto if they will be arrested, no one wants to be jailed.
In this situation, I'm sure there is a big decrease of the interest of having crypto in your country.
Sure, there should be a chance to have a legal status in the future. When more countries to declare about legal tender on Bitcoin, your government will consider to legalize crypto.
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Crypto markets can exist without government permission
Should be. Because after all, most cryptocurrencies are decentralized, so basically you can. Like Bitcoin, Bitcoin is decentralized, so of course it can continue to exist without government interference. We have a DEX that doesn't need to be related to the government. We can also do it with various P2P methods. So this should not be controlled by the government.
But the problem is that this will be difficult to do because of how the government now regulates everything in the world. And it will make things difficult that don't support them. Including crypto. So, just follow what the government wants.
Does your country have a plan to accept crypto? Are you willing to use crypto as a legal payment method alongside fiat currency?
In my country? Yaaa, crypto is legal, but as commodity asset for trading and investment.
But it is illegal if used for payment method.
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It is sad to hear this, people mustn't be arrested because they have crypto.
People must be afraid to have crypto if they will be arrested, no one wants to be jailed.
In this situation, I'm sure there is a big decrease of the interest of having crypto in your country.
Sure, there should be a chance to have a legal status in the future. When more countries to declare about legal tender on Bitcoin, your government will consider to legalize crypto.
That's right, there should be clear rules about crypto, why is it prohibited? Why do those who have crypto have to go to prison? What crimes do crypto lovers commit? This is funny. Crypto is digital currency, technology of the future. No one can refuse the technology. The government should legalize crypto, and in return the government gets taxes from crypto.
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It is sad to hear this, people mustn't be arrested because they have crypto.
People must be afraid to have crypto if they will be arrested, no one wants to be jailed.
In this situation, I'm sure there is a big decrease of the interest of having crypto in your country.
Sure, there should be a chance to have a legal status in the future. When more countries to declare about legal tender on Bitcoin, your government will consider to legalize crypto.
That's right, there should be clear rules about crypto, why is it prohibited? Why do those who have crypto have to go to prison? What crimes do crypto lovers commit? This is funny. Crypto is digital currency, technology of the future. No one can refuse the technology. The government should legalize crypto, and in return the government gets taxes from crypto.
It doesn't seem worth it if you get arrested just because you have cryptocurrency. Is having cryptocurrency in another country or having Bitcoin a crime? That is not the correct implementation of a country in reality. And it's not fair in my assessment either.
It's okay if the government taxes the crypto enthusiasts on the cryptos they earn, so it still doesn't seem good because it seems that Bitcoin is already regulated, but with Bitcoin, they can't do that for sure.
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Does your country have a plan to accept crypto? Are you willing to use crypto as a legal payment method alongside fiat currency?
My country adopted what is the new trend in the market and technology so it's easy for my country to adopt Bitcoin, I notice that users from the third world are very open to Cryptocurrency because, besides the underlying technology behind Cryptocurrency, there is a promised profit for those who support, invest and HODL, so many of us here in our country are now using Cryptocurrency to pay their bills, just the other day I convert my Crypto to pay for my internet I just wish that many establishment on malls accept Cryptocurrency or just show signage that they accept Bitcoin.
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In the digital world or on the internet, I quite often use crypto to top up my internet bill payments. Besides, I rarely do it. But in my country crypto is only considered a commodity asset so here we can safely buy and sell it. But it seems that it will not be permitted as a means of payment here because it is not in accordance with existing regulations.
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Does your country have a plan to accept crypto? Are you willing to use crypto as a legal payment method alongside fiat currency?
Year ago, when I was opening a bank account with a big universal bank here in my country, the one assisting me told me that it is the policy of the bank to have nothing to do with cryptocurrency meaning that no money from cryptocurrency trading and profits can be sent to my account...at that time Coins.Ph was the most popular way to convert crypto to cash so money from Coins.Ph was discouraged to be sent to my account. Today, since Coins.Ph failed to be a big leader in the crypto space here most people into crypto are now using Binance P2P and Gcash/Maya and even banks where to send the money. Now, with the possible closure of Binance operation here, we will see where we will go maybe go back to Coins.Ph where rates are lower probably because they are paying taxes and is really legally operating here. On the question above, there is no specific law covering the business of cryptocurrency and my country is using existing laws most especially those covering foreign exchange transactions. I am hoping that soon we can come up with a comprehensive law covering most of the matters of the business so that once and for all things related to tax can also be clarified and fintech companies can operate here on the open. I have no problem with cryptocurrency also used like a currency along side with our national money...in fact it would be exciting though I am a little bit wary on explosion of possible scams so this is where we can go back to that law for this matter. In addition, there are now some outfits here accepting Bitcoin though I am not seeing many others adopting that fast.
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In the digital world or on the internet, I quite often use crypto to top up my internet bill payments. Besides, I rarely do it. But in my country crypto is only considered a commodity asset so here we can safely buy and sell it. But it seems that it will not be permitted as a means of payment here because it is not in accordance with existing regulations.
Here in my country crypto transactions is all good. About using crypto as internet bill payment, I am doing the same way some years back when the time I had a little knowledge about hodling Bitcoins for long term purposes. But right it's not gonna happen again as I use Bitcoin more of an investment rather than a payment method. The only downside here is that the SEC will impose ban on unregistered exchange like Binance and many others which is for me the most convenient exchange that existed.
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Here in my country crypto transactions is all good. About using crypto as internet bill payment, I am doing the same way some years back when the time I had a little knowledge about hodling Bitcoins for long term purposes. But right it's not gonna happen again as I use Bitcoin more of an investment rather than a payment method.
Nice to hear stories in your country. Unfortunately In my country, crypto is only for investment commodity mate, not for payment. The government prohibits using crypto for payments. Maybe one day the government in our country will allow it.
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In the digital world or on the internet, I quite often use crypto to top up my internet bill payments. Besides, I rarely do it. But in my country crypto is only considered a commodity asset so here we can safely buy and sell it. But it seems that it will not be permitted as a means of payment here because it is not in accordance with existing regulations.
I stand by the idea that cryptocurrencies will not be recognized for legal payments, and there are real reasons for that.
1. it essentially increases the amount of money in circulation. I.e. it disrupts the conventionally balanced financial system of the state.
2. A primitive question - what to do with taxes ? Accept them in cryptocurrency ? And where will the state use it? To pay your pensions? Will you agree to receive your pension with an asset with wild volatility and complete decentralization? And the state will not be able to use them in any other way, because the world market does not work with cryptocurrency.
3. A simple question - how to form prices in local currency and bitcoin, for example ? In what will be assessed the real value of the product ? In local currency? In bitcoin?
And there are so many such questions that any advantages of cryptocurrency are nullified by these complexities.
I am in favor of crypto-assets being an investment asset, but not money
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Nice to hear stories in your country. Unfortunately In my country, crypto is only for investment commodity mate, not for payment. The government prohibits using crypto for payments. Maybe one day the government in our country will allow it.
Actually in every country crypto is now used for investment purpose instead of payment method because people wants to multiply their wealth which can be possible only if they hold their asset for longer time instead of using it for buying objects.
In most of the countries the government does not allow the payment in the form of Crypto but when Crypto become more powerful and more successful then may be government of all countries accept bitcoin as a payment method for buying and selling of different materials.
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Nice to hear stories in your country. Unfortunately In my country, crypto is only for investment commodity mate, not for payment. The government prohibits using crypto for payments. Maybe one day the government in our country will allow it.
Actually in every country crypto is now used for investment purpose instead of payment method because people wants to multiply their wealth which can be possible only if they hold their asset for longer time instead of using it for buying objects.
In most of the countries the government does not allow the payment in the form of Crypto but when Crypto become more powerful and more successful then may be government of all countries accept bitcoin as a payment method for buying and selling of different materials.
Perhaps what @legend45 means is that in their country, crypto is mainly used for investment purposes due to government regulations. However, in El Salvador, Bitcoin is legally accepted for buying and selling goods.
Using Bitcoin to purchase items like laptops, motorcycles, or cars does offer some convenience. But, up to now, most holders prefer to gain profits with their basic reference being FIAT currency. And for anyone who observes the profit from Bitcoin when converted into FIAT, their primary currency remains FIAT, not Bitcoin.
Indeed, it's not easy to establish Bitcoin as a widely used currency.
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In my country crypto is not legal, but is not illegal as well.Right now its status is undecided and undefined. But the government created a few initiatives for legalising crypto and they preparing regulations. I think it will make crypto field more attractive for new investors, but the taxes will intimidate a lot, because they are planned to be quite high.
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Government regulation is very important how to make bitcoin keep existing in the future, although as allowed for commodity assets only is enough for us get profitable and make bitcoin investment assets in the future. But will make more profitable and bitcoin get popular if government allowed as legal currency transaction, I think without government regulation or permission difficult for bitcoin keep existing and get problem when withdrawing bitcoin fund to the bank.
Less countries not supported bitcoin right now, I think most government give permission for bitcoin legal although only commodity assets.
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Government regulation is very important how to make bitcoin keep existing in the future, although as allowed for commodity assets only is enough for us get profitable and make bitcoin investment assets in the future. But will make more profitable and bitcoin get popular if government allowed as legal currency transaction, I think without government regulation or permission difficult for bitcoin keep existing and get problem when withdrawing bitcoin fund to the bank.
Less countries not supported bitcoin right now, I think most government give permission for bitcoin legal although only commodity assets.
It's not about the regulatory framework of Bitcoin, the government relationship just have to be friendly with crypto. If today government across the globe decide to do crack down on the crypto market because of the negative things crypto has impacted on the society, it will not survive and if it does, the growth will be slow and adoption will not increase.
We need the government, we need to be friends with them in some aspect to allow people have free will to buy and sell Bitcoin and other altcoins and not be like the way China and other countries has ban their people from buying and selling Bitcoin.
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Government regulation is very important how to make bitcoin keep existing in the future, although as allowed for commodity assets only is enough for us get profitable and make bitcoin investment assets in the future. But will make more profitable and bitcoin get popular if government allowed as legal currency transaction, I think without government regulation or permission difficult for bitcoin keep existing and get problem when withdrawing bitcoin fund to the bank.
Less countries not supported bitcoin right now, I think most government give permission for bitcoin legal although only commodity assets.
It's not about the regulatory framework of Bitcoin, the government relationship just have to be friendly with crypto. If today government across the globe decide to do crack down on the crypto market because of the negative things crypto has impacted on the society, it will not survive and if it does, the growth will be slow and adoption will not increase.
We need the government, we need to be friends with them in some aspect to allow people have free will to buy and sell Bitcoin and other altcoins and not be like the way China and other countries has ban their people from buying and selling Bitcoin.
States are solving a difficult task - how to connect two worlds, but not destroy one by the other. Cryptocurrency as a phenomenon is already independent enough not to disappear if even millions of people stop believing in it. But its behavior remains unpredictable, and this is very bad for the financial system.
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Recently, Nigerian government lifted the ban on banks involved in crypto-enabled services. Of course, this is beneficial for the crypto market in this country, but even before this authorization, the crypto market in Nigeria was already very developed through P2P.
“The ban by CBN on Nigerian banks from aiding crypto transactions made P2P merchants dominant in the first place. The ban was supposed to stamp out Bitcoin and crypto use in Nigeria. Instead, the crypto community turned to peer-to-peer trades or sending payments directly to each other.”
Source: Nigerian crypto exchanges and P2P merchants brace for battle post ban lift (https://cointelegraph.com/news/nigerian-crypto-exchanges-and-p2p-merchants-brace-for-battle-post-ban-lift).
This once again shows the independence of transactions on blockchain from the management or permission of countries. China has banned crypto, but people can still buy, sell and store crypto assets without too much difficulty. It is this intense existence that has forced governments to be more serious when considering and accepting the existence and operation of crypto. Taxes, job opportunities, foreign investment are the things that every government wants to develop the country.
I believe that the wave of crypto adoption will soon spread globally, not only in El Salvador or Argentina, many other countries will soon have a clear legal framework to manage and collect taxes from this market. Large institutions have participated such as BlackRock, Vanguard, Fidelity, now it is the turn of governments.
Does your country have a plan to accept crypto? Are you willing to use crypto as a legal payment method alongside fiat currency?
I will say p2p has been the way of trading cryptocurrencies since the ban of crypto, crypto transaction has been taking place all this while , government place a ban still yet crypto transaction are still taking place.
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I will say p2p has been the way of trading cryptocurrencies since the ban of crypto, crypto transaction has been taking place all this while , government place a ban still yet crypto transaction are still taking place.
I wonder when they will get to “regulating” P2P? And this is extremely simple to do - regulators issue a new regulation - all registered cards on the exchange must be transferred to the fiscal authorities of the countries whose citizens are registered on the exchange. And the ban - without CUS and registration (with confirmation) of bank cards - the service is not provided. After the cards fall into the hands of the fiscal authorities, tracking and matching P2P transactions is a purely technical and not difficult issue.
I assume that we will hear about this very soon... unfortunately
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I will say p2p has been the way of trading cryptocurrencies since the ban of crypto, crypto transaction has been taking place all this while , government place a ban still yet crypto transaction are still taking place.
I wonder when they will get to “regulating” P2P? And this is extremely simple to do - regulators issue a new regulation - all registered cards on the exchange must be transferred to the fiscal authorities of the countries whose citizens are registered on the exchange. And the ban - without CUS and registration (with confirmation) of bank cards - the service is not provided. After the cards fall into the hands of the fiscal authorities, tracking and matching P2P transactions is a purely technical and not difficult issue.
I assume that we will hear about this very soon... unfortunately
I guess they haven't yet taken up this matter only because the funds withdrawn through p2p are not so large. Typically, these are amounts that can easily pass for transactions between individuals that are not subject to taxes. Usually people do not risk withdrawing large amounts through p2p, because the bank may block the transfer. To do this, they use other platforms, the regulation of which is more urgent on the agenda of governments, it seems to me.
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I will say p2p has been the way of trading cryptocurrencies since the ban of crypto, crypto transaction has been taking place all this while , government place a ban still yet crypto transaction are still taking place.
I wonder when they will get to “regulating” P2P? And this is extremely simple to do - regulators issue a new regulation - all registered cards on the exchange must be transferred to the fiscal authorities of the countries whose citizens are registered on the exchange. And the ban - without CUS and registration (with confirmation) of bank cards - the service is not provided. After the cards fall into the hands of the fiscal authorities, tracking and matching P2P transactions is a purely technical and not difficult issue.
I assume that we will hear about this very soon... unfortunately
It may very well be, but as far as I know, there is a minimum amount up to which it makes no sense to track financial transactions. Otherwise, the system may simply choke. Therefore, I will assume that there will be some “safe” amount with which you can operate.
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I don't sure with crypto market can exist without get government permission or regulation, many investor get difficult for withdrawing and deposit fiat fund to invest in crypto market trough local exchange after government not regulation with crypto market. I think really important with government permission or regulation with crypto market and make us easily for depositing fund and withdrawing cryptocurrency assets to local bank.
I don't see with some investor not get regulation with local exchange market in their country, how to withdraw and deposit fund to invest in cryptocurrency.
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I will say p2p has been the way of trading cryptocurrencies since the ban of crypto, crypto transaction has been taking place all this while , government place a ban still yet crypto transaction are still taking place.
I wonder when they will get to “regulating” P2P? And this is extremely simple to do - regulators issue a new regulation - all registered cards on the exchange must be transferred to the fiscal authorities of the countries whose citizens are registered on the exchange. And the ban - without CUS and registration (with confirmation) of bank cards - the service is not provided. After the cards fall into the hands of the fiscal authorities, tracking and matching P2P transactions is a purely technical and not difficult issue.
I assume that we will hear about this very soon... unfortunately
It may very well be, but as far as I know, there is a minimum amount up to which it makes no sense to track financial transactions. Otherwise, the system may simply choke. Therefore, I will assume that there will be some “safe” amount with which you can operate.
Of course, its true there will be a limitation in terms of transactions. That is, one can transfer much more if he wants but if it is in the suspect list then it is not difficult to block that transaction. I don't think small transactions will create any kind of problem. In case of large amount of money it must be transacted after dividing it into several parts which I think is the appropriate decision especially to avoid government restrictions.
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I think governments will continually focus on tightening regulation. A lot of dirty money was laundered through cryptocurrencies. There was trade in prohibited goods without the right to identify both the seller and the recipient. Therefore, control is important and necessary.
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I don't sure with crypto market can exist without get government permission or regulation, many investor get difficult for withdrawing and deposit fiat fund to invest in crypto market trough local exchange after government not regulation with crypto market. I think really important with government permission or regulation with crypto market and make us easily for depositing fund and withdrawing cryptocurrency assets to local bank.
I don't see with some investor not get regulation with local exchange market in their country, how to withdraw and deposit fund to invest in cryptocurrency.
If we talk about the exchange market then of course we must have permission to build a platform that can be used to trade digital currencies such as this cryptocurrency, but if the circulation of cryptocurrency then the government will not be able to control it because the volume of coins available is too much so it will make the government more difficulty in controlling everything in the hands of the government.
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If we talk about the exchange market then of course we must have permission to build a platform that can be used to trade digital currencies such as this cryptocurrency, but if the circulation of cryptocurrency then the government will not be able to control it because the volume of coins available is too much so it will make the government more difficulty in controlling everything in the hands of the government.
Government permission is only needed when we build an exchange platform, but if you only invest buy and hold, you don't need permission from the government. However, if crypto is used as payment, it certainly requires permission from the government, mate. And in my country crypto is not yet permitted as a means of payment.
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I don't sure with crypto market can exist without get government permission or regulation, many investor get difficult for withdrawing and deposit fiat fund to invest in crypto market trough local exchange after government not regulation with crypto market. I think really important with government permission or regulation with crypto market and make us easily for depositing fund and withdrawing cryptocurrency assets to local bank.
I don't see with some investor not get regulation with local exchange market in their country, how to withdraw and deposit fund to invest in cryptocurrency.
The government regulates companies, including CEXs. Therefore, Binance needs to apply for an operating license in each country. P2P market does not require it and people can easily exchange and buy and sell there.
In some countries, The government prohibits banks from serving services related to crypto CEXs, people can still send money abroad to ask others to buy crypto for them, then they trade with each other through P2P . Of course, they do not trade regularly to make profits, they trade to own crypto to protect their assets against the attack of inflation.
Of course, if the government accepts crypto as part of the economy, banks will offer crypto buying and selling services via credit cards, things will become a lot easier.
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Government permission is only needed when we build an exchange platform, but if you only invest buy and hold, you don't need permission from the government. However, if crypto is used as payment, it certainly requires permission from the government, mate. And in my country crypto is not yet permitted as a means of payment.
Maybe in a country that has a government like that, so you have a statement stating that the government gives permission to those who create exchange platforms, I would rather call it bribe money that must be given by the government.
As I know, the government really likes an agency that can give money easily while the government only issues paper with a stamp.
This means that your government has a neutral attitude towards the use of Cryptocurrency in its country and is not responsible if there are losses experienced by its citizens. This is different from several foreign countries which have provided clear statements regarding the prohibition of using Bitcoin or other Cryptocurrencies for transactions in their countries.
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Government permission is only needed when we build an exchange platform, but if you only invest buy and hold, you don't need permission from the government. However, if crypto is used as payment, it certainly requires permission from the government, mate. And in my country crypto is not yet permitted as a means of payment.
Maybe in a country that has a government like that, so you have a statement stating that the government gives permission to those who create exchange platforms, I would rather call it bribe money that must be given by the government.
As I know, the government really likes an agency that can give money easily while the government only issues paper with a stamp.
This means that your government has a neutral attitude towards the use of Cryptocurrency in its country and is not responsible if there are losses experienced by its citizens. This is different from several foreign countries which have provided clear statements regarding the prohibition of using Bitcoin or other Cryptocurrencies for transactions in their countries.
More precisely, the government expects income from crypto transactions, both from exchanges and other transactions. no government wants to be responsible for crypto transactions, because the government cannot control them.
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But there are still other exchanges that, even without any approval from our government, can still exist and operate here in our country, like Binance. Only this time, there is an issue that must be fixed because if Binance does not fix it, the IP will be blocked by Binance here in the country, and it has been given 90 days to fix this problem.
Yes, Binance and global platforms can work anywhere, but they will be limited to exchanging cryptocurrencies and you still need P2P if you want to withdraw local currency. Local platforms allow you to easily link your bank account or bank card and withdraw or deposit your money and convert it into cryptocurrencies.
But the p2p transaction is still different when it has features in a local exchange and is a big help to crypto enthusiasts like me. That's the thing in our country that all the crypto fanatics here in our country liked about Binance; that's why our SEC announced here to block Binance; that's why it's been delayed so far.
So at the moment, we are still able to access Binance with some hesitation, as if it is still worrying to put funds in until there is a final announcement.
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no government wants to be responsible for crypto transactions, because the government cannot control them.
And not only because they cannot control them. But also because they are not able to ensure their implementation. This is the essence of a decentralized system. Its work does not depend on some top mechanism, where a failure leads to cancelation or delay of all processes.
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no government wants to be responsible for crypto transactions, because the government cannot control them.
And not only because they cannot control them. But also because they are not able to ensure their implementation. This is the essence of a decentralized system. Its work does not depend on some top mechanism, where a failure leads to cancelation or delay of all processes.
Maybe that makes governments less supportive of crypto. but I think it doesn't matter as long as we can still invest in crypto, I'm happy and enjoying it. The problem is whether the government allows it or not, one day they will also allow it if their citizens have invested a lot in crypto.
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If we are indeed considering a decentralized network then there should be nothing to interfere them with the role of government in making regulation for them, but some of these crypto networks are also not decentralized, this is one of the means that the government use in getting then under their watchlist and apprehend them under their regulatory control, this is total out of the context of us having privacy or the required financial freedom because the governments are going to frustrate the crypto entities not decentralized with regulations.
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If we are indeed considering a decentralized network then there should be nothing to interfere them with the role of government in making regulation for them, but some of these crypto networks are also not decentralized, this is one of the means that the government use in getting then under their watchlist and apprehend them under their regulatory control, this is total out of the context of us having privacy or the required financial freedom because the governments are going to frustrate the crypto entities not decentralized with regulations.
Actually the world of crypto is a freedom, why do we think about government support for crypto. Even without their support and regulation, Bitcoin still survives today. The government should require crypto transactions, where they can take our taxes and transactions
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Actually the world of crypto is a freedom, why do we think about government support for crypto. Even without their support and regulation, Bitcoin still survives today. The government should require crypto transactions, where they can take our taxes and transactions
It is freedom indeed, however, this freedom is full only within the frames of crypto world itself. At the stage of withdrawing cryptocurrency, exchanging it for fiat money and converting it into material, tangible assets, it is impossible to avoid the issue of regulation and the government’s position towards the cryptosphere.
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Actually the world of crypto is a freedom, why do we think about government support for crypto. Even without their support and regulation, Bitcoin still survives today. The government should require crypto transactions, where they can take our taxes and transactions
It is freedom indeed, however, this freedom is full only within the frames of crypto world itself. At the stage of withdrawing cryptocurrency, exchanging it for fiat money and converting it into material, tangible assets, it is impossible to avoid the issue of regulation and the government’s position towards the cryptosphere.
Exactly. If the government in a specific country will implement a full banning on crypto it means inaccessible because they may block all possible access to it. If that scenario will happen we need to move to other countries just to take our profit and convert it to fiat. It would be better if they coexist alongside each other I mean fiat and crypto plus neutral or fair regulation of the government is enough for us enthusiasts to take part in this industry conveniently.
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If we are indeed considering a decentralized network then there should be nothing to interfere them with the role of government in making regulation for them, but some of these crypto networks are also not decentralized, this is one of the means that the government use in getting then under their watchlist and apprehend them under their regulatory control, this is total out of the context of us having privacy or the required financial freedom because the governments are going to frustrate the crypto entities not decentralized with regulations.
Actually the world of crypto is a freedom, why do we think about government support for crypto. Even without their support and regulation, Bitcoin still survives today. The government should require crypto transactions, where they can take our taxes and transactions
- The other government is already doing what you are saying, mate, in my opinion, while the other local exchangers that are regulated under the government are the users who are already getting taxes, to my knowledge.
Then there are other exchangers that can also operate here in our country that have not come under the regulation of our government but have existed for several years, although at the moment there is a bit of an issue because our SEC agency here is looking into it.
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If we are indeed considering a decentralized network then there should be nothing to interfere them with the role of government in making regulation for them, but some of these crypto networks are also not decentralized, this is one of the means that the government use in getting then under their watchlist and apprehend them under their regulatory control, this is total out of the context of us having privacy or the required financial freedom because the governments are going to frustrate the crypto entities not decentralized with regulations.
Actually the world of crypto is a freedom, why do we think about government support for crypto. Even without their support and regulation, Bitcoin still survives today. The government should require crypto transactions, where they can take our taxes and transactions
Yes, to be with world of crypto is a freedom from being controlled by the government. However, this freedom is not totally free because you must be responsible on it. If you don't know how to take care of this freedom you get from crypto, it will only put you at risks. The government doesn't like crypto because they can't track our actions in life especially our wealth, so we get privacy in crypto. However, even we get this kind of freedom we should still respect the government in other matter or else they will go against you.
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Exactly. If the government in a specific country will implement a full banning on crypto it means inaccessible because they may block all possible access to it. If that scenario will happen we need to move to other countries just to take our profit and convert it to fiat. It would be better if they coexist alongside each other I mean fiat and crypto plus neutral or fair regulation of the government is enough for us enthusiasts to take part in this industry conveniently.
What many governments don't understand is that crypto is actually a great benefit to the tax system if it is implemented smoothly and gradually. This is much more beneficial for everyone than banning it or subjecting it to total control, which only leads to an increase in the scale of the shadow economy.
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If we are indeed considering a decentralized network then there should be nothing to interfere them with the role of government in making regulation for them, but some of these crypto networks are also not decentralized, this is one of the means that the government use in getting then under their watchlist and apprehend them under their regulatory control, this is total out of the context of us having privacy or the required financial freedom because the governments are going to frustrate the crypto entities not decentralized with regulations.
Actually the world of crypto is a freedom, why do we think about government support for crypto. Even without their support and regulation, Bitcoin still survives today. The government should require crypto transactions, where they can take our taxes and transactions
Yes, to be with world of crypto is a freedom from being controlled by the government. However, this freedom is not totally free because you must be responsible on it. If you don't know how to take care of this freedom you get from crypto, it will only put you at risks. The government doesn't like crypto because they can't track our actions in life especially our wealth, so we get privacy in crypto. However, even we get this kind of freedom we should still respect the government in other matter or else they will go against you.
Such freedom would never have been possible if the government had controlled crypto. The bottom line is that governments are not able to track crypto users. Due to which they try to limit it by various restrictions. But while governments may not openly embrace crypto, their positive attitude towards crypto is easy to understand. I often hear crypto being used by government officials in different countries, which makes me think that people at every level want to use crypto. No bank or financial institution in the world can offer the freedom that crypto gives to the user.
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What many governments don't understand is that crypto is actually a great benefit to the tax system if it is implemented smoothly and gradually. This is much more beneficial for everyone than banning it or subjecting it to total control, which only leads to an increase in the scale of the shadow economy.
Countries that have completely banned crypto have only 2 reasons, first because they keep their fiat and only want to create their own digital currency and the second reason is because they cannot keep up with the development of digital technology, so the country is too skeptical of the rapid development of digital technology and considers crypto a disaster because everything will look transparent.
They will have no control and the previously neatly stored cheating will be exposed because everything is transparent.
Though those who accept crypto will have the opportunity to get bigger taxes and could be additional income for the country.
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The government can only suppress it, but they can't stop crypto, because crypto currency is not centralized to only one government.
But in a country the government can set some strict rules to stop crypto market...
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Exactly. If the government in a specific country will implement a full banning on crypto it means inaccessible because they may block all possible access to it. If that scenario will happen we need to move to other countries just to take our profit and convert it to fiat. It would be better if they coexist alongside each other I mean fiat and crypto plus neutral or fair regulation of the government is enough for us enthusiasts to take part in this industry conveniently.
What many governments don't understand is that crypto is actually a great benefit to the tax system if it is implemented smoothly and gradually. This is much more beneficial for everyone than banning it or subjecting it to total control, which only leads to an increase in the scale of the shadow economy.
You know better than to let this misunderstanding persist for as long as possible. Because otherwise, freedom in the full sense of the word will end. You won’t be able to hide anything, everything is stored in the blockchain, And in fact, there is, by and large, no benefit for the economy, but there is no benefit there is a lot to control.
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You know better than to let this misunderstanding persist for as long as possible. Because otherwise, freedom in the full sense of the word will end. You won’t be able to hide anything, everything is stored in the blockchain, And in fact, there is, by and large, no benefit for the economy, but there is no benefit there is a lot to control.
I am not sure I understood your words correctly. Are you convinced that blockchain is the end to freedom? If so, that I would rather disagree. Yes, every piece of information stored there, but it also provides anonymity and various choices of actions. No government controlled system provides such opportunities.
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You know better than to let this misunderstanding persist for as long as possible. Because otherwise, freedom in the full sense of the word will end. You won’t be able to hide anything, everything is stored in the blockchain, And in fact, there is, by and large, no benefit for the economy, but there is no benefit there is a lot to control.
I am not sure I understood your words correctly. Are you convinced that blockchain is the end to freedom? If so, that I would rather disagree. Yes, every piece of information stored there, but it also provides anonymity and various choices of actions. No government controlled system provides such opportunities.
I agree because blockchain technology offers freedom and anonymity. But remember, all our transactions are recorded there. Actually, blockchain is not completely anonymous, unless we use private coins in transactions. Legality or not, crypto will still work.
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Cryptocurrency is a decentralized digital currency and has been doing fairly well in its independent market without the regulations of the government.
Bitcoin did not come in existence with the order permissions from the government because earlier on, Bitcoin was designed to be operated just in this decentralized operative system without the a provision for centralized controlling bodies.
About my intenses feelings of Bitcoin to be adopted and permitted for alternative means of payments, of course that was primarily what this digital coins was made for before considering the alternative potentials of being an investment. So definitely it would be a great development for me and others who as re already into crytop currencies as much as it could grant quick transactions and also how to keep my funds untracked as our governments would always do with the fiats.
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I agree because blockchain technology offers freedom and anonymity. But remember, all our transactions are recorded there. Actually, blockchain is not completely anonymous, unless we use private coins in transactions. Legality or not, crypto will still work.
Transactions being recorded doesn't mean it isn't anonymous. Someone looking at your wallet and the transactions you have made wouldn't know that the wallet is related to you because you don't do KYC with your wallet as long as you are using a non-custodial wallet where you hold your seed phrases and private keys.
The public ledger only allows one to check your transactions or available balance, your wallet can only be linked with you if you have completed KYC verification at a certain platform and then either made a deposit or a withdrawal with that wallet in your KYCed account which makes the wallet connected to your identity through that platform if there is an investigation to find out this information. If you don't do that and stay away from centralized and KYC-based platforms, no one would know that the wallet is yours.
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Until now there has been no sign regarding the use of cryptocurrency as legal payment in my country, until now the use of cryptocurrency is still limited to digital assets, and nothing more. In the future, perhaps if cryptocurrency is truly legalized as a means of payment, I am more confident that several altcoins with blockchain networks could be a more convenient payment solution for transactions.
Like LTC nowadays, I often use it to buy several online services. Apart from being easy, the fees offered are also small, so that we can all move money easily and at a relatively small cost without any regional restrictions.
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The government can only suppress it, but they can't stop crypto, because crypto currency is not centralized to only one government.
But in a country the government can set some strict rules to stop crypto market...
True. The government only limits or makes a pressure on the people who use crypto coins. But the government can't totally stop crypto market because it is impossible. Although the government closes all the centralized exchanges but we still have many decentralized exchanges. How the government stop decentralized exchanges if they don't know where the base of the exchanges.
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The government can only suppress it, but they can't stop crypto, because crypto currency is not centralized to only one government.
But in a country the government can set some strict rules to stop crypto market...
True. The government only limits or makes a pressure on the people who use crypto coins. But the government can't totally stop crypto market because it is impossible. Although the government closes all the centralized exchanges but we still have many decentralized exchanges. How the government stop decentralized exchanges if they don't know where the base of the exchanges.
Cryptocurrency is the technology of the future, no one can resist the technology of the future. Even though the government is restricting it, crypto lovers still carry out transactions with bitcoin and altcoins. That's why the government should allow it to take taxes from crypto transactions.
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Cryptocurrency is the technology of the future, no one can resist the technology of the future. Even though the government is restricting it, crypto lovers still carry out transactions with bitcoin and altcoins. That's why the government should allow it to take taxes from crypto transactions.
Yes, you are right, with cryptocurrency it can be a bridge for the process of changing physical paper currency into digital form and as technology develops in the financial world, it will be easier to carry out transactions wherever you are, no need to carry a wallet anymore, you just need to use one. The smartphone you own can be used to buy whatever you want.
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I agree because blockchain technology offers freedom and anonymity. But remember, all our transactions are recorded there. Actually, blockchain is not completely anonymous, unless we use private coins in transactions. Legality or not, crypto will still work.
What makes the blockchain not completely anonymous is, in fact, not located within the blockchain itself. Yes, transactions are saved, but in order to reach the performer, you need to connect other tools that have nothing to do with the blockchain. Therefore, in my opinion, it is not entirely correct to say that this is blockchain exactly what is not anonymous.
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I agree because blockchain technology offers freedom and anonymity. But remember, all our transactions are recorded there. Actually, blockchain is not completely anonymous, unless we use private coins in transactions. Legality or not, crypto will still work.
What makes the blockchain not completely anonymous is, in fact, not located within the blockchain itself. Yes, transactions are saved, but in order to reach the performer, you need to connect other tools that have nothing to do with the blockchain. Therefore, in my opinion, it is not entirely correct to say that this is blockchain exactly what is not anonymous.
Anonymous or not, it has no effect for me as a small investor, because I only see profits. Regarding anonymity, I honestly don't care, because my intention to invest in crypto is only to make a profit and earn income from the crypto world. Maybe everyone has their own perspective and opinion.
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The nature of the use of p2p was to ensure that buying and selling exist directly with the persons involved without the interference of a third party to sabotage the deal between them, so when we are considering cryptocurrencies as a whole, we should ensure to avoid anything that will try to involve the hand of government into whatsoever thing we are doing, this is why there's a need for our privacy and security and with bitcoin, which is decentralized, there's no how the government could interfere into anything you are doing if you yourself don't give them the permission needed from the start through the use of centralized exchanges.
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The nature of the use of p2p was to ensure that buying and selling exist directly with the persons involved without the interference of a third party to sabotage the deal between them, so when we are considering cryptocurrencies as a whole, we should ensure to avoid anything that will try to involve the hand of government into whatsoever thing we are doing, this is why there's a need for our privacy and security and with bitcoin, which is decentralized, there's no how the government could interfere into anything you are doing if you yourself don't give them the permission needed from the start through the use of centralized exchanges.
The problem is that as soon as we start transferring crypto into fiat, this is where the government will get involved. So it turns out that crypto can exist without government intervention, but we cannot spend the earned profit.And for the chain to close, it is necessary to be able to pay directly with crypto, and even if this happens, it will not happen soon.
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The nature of the use of p2p was to ensure that buying and selling exist directly with the persons involved without the interference of a third party to sabotage the deal between them, so when we are considering cryptocurrencies as a whole, we should ensure to avoid anything that will try to involve the hand of government into whatsoever thing we are doing, this is why there's a need for our privacy and security and with bitcoin, which is decentralized, there's no how the government could interfere into anything you are doing if you yourself don't give them the permission needed from the start through the use of centralized exchanges.
I agree with you, but let me say three things. Lack of knowledge, user convenience and centralized exchanges. These three things are the worst things (besides scams) that can happen to a user. The lack of technical knowledge on the part of the user, and the laziness to learn in many cases, causes users to use centralized exchanges, even if they have to hand over their personal data, at that point, the country's government knows who the user is, how many cryptocurrencies they have, and how they use them.
Having bank accounts in more cryptocurrency-friendly countries is not a crime, in several countries taxes are 0%. This, along with the use of decentralized exchanges, can give us an idea of what to do in these cases, but we must always take into account the bureaucracy inherent in this type of banking solutions.
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The nature of the use of p2p was to ensure that buying and selling exist directly with the persons involved without the interference of a third party to sabotage the deal between them, so when we are considering cryptocurrencies as a whole, we should ensure to avoid anything that will try to involve the hand of government into whatsoever thing we are doing, this is why there's a need for our privacy and security and with bitcoin, which is decentralized, there's no how the government could interfere into anything you are doing if you yourself don't give them the permission needed from the start through the use of centralized exchanges.
In response to this, decentralized exchanges really prioritize privacy, but in market reality, CEX exchanges are the ones who win the competition... so here I see that there are no more people coming to cryptocurrency who prioritize privacy than the people coming to cryptocurrencies that prioritize money. CEX does not give money, they just provide a good service but our privacy becomes a prisoner there. The government has a high probability of taking control of our data through the help of CEX.
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The nature of the use of p2p was to ensure that buying and selling exist directly with the persons involved without the interference of a third party to sabotage the deal between them, so when we are considering cryptocurrencies as a whole, we should ensure to avoid anything that will try to involve the hand of government into whatsoever thing we are doing, this is why there's a need for our privacy and security and with bitcoin, which is decentralized, there's no how the government could interfere into anything you are doing if you yourself don't give them the permission needed from the start through the use of centralized exchanges.
The problem is that as soon as we start transferring crypto into fiat, this is where the government will get involved. So it turns out that crypto can exist without government intervention, but we cannot spend the earned profit.And for the chain to close, it is necessary to be able to pay directly with crypto, and even if this happens, it will not happen soon.
That's true, money problems occur if we transfer to fiat, the government will interfere there, that's why legality or government permission is needed. although there are ways that can be done, but it is better if bitcoin is allowed as an investment because there are more and more crypto lovers and this also becomes income for the state if crypto transactions occur to fiat which is subject to tax.
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That's true, money problems occur if we transfer to fiat, the government will interfere there, that's why legality or government permission is needed. although there are ways that can be done, but it is better if bitcoin is allowed as an investment because there are more and more crypto lovers and this also becomes income for the state if crypto transactions occur to fiat which is subject to tax.
It is natural that if the government wants to earn extra money from trading crypto to fiat, it will try to collect taxes, because this is also used to control the circulation of incoming money so that there will be no inflation of fiat currency in certain countries.
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What makes the blockchain not completely anonymous is, in fact, not located within the blockchain itself. Yes, transactions are saved, but in order to reach the performer, you need to connect other tools that have nothing to do with the blockchain. Therefore, in my opinion, it is not entirely correct to say that this is blockchain exactly what is not anonymous.
What do you mean exactly? Do you think blockchain isn't anonymous?
Well, it may be not 100% anonymous, there is transaction details, we can track the address and the amount to transfer. However, it can be anonymous if we use mixer technology. I think we can try this services if we want to be real anonymous.
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What do you mean exactly? Do you think blockchain isn't anonymous?
Well, it may be not 100% anonymous, there is transaction details, we can track the address and the amount to transfer. However, it can be anonymous if we use mixer technology. I think we can try this services if we want to be real anonymous.
That's right, with a mixer all transactions on the blockchain can be more anonymous so it is often used for money laundering, but you need to know that if you want to make a purchase at a shop that accepts bitcoin as one of the payments, they will know the wallet you have and know the number of bitcoins you have. have so that transactions are no longer anonymous.
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It can exist, but for how long? If my government tells me that I will go to jail if I use it, then I would probably stop using it, and even if ever do, it would be for transactions and very quick, but most likely I would not. Which would hurt me a lot believe me, I get paid in crypto, so if I suddenly stopped getting paid, I have no salary and my whole life would be ruined, but I still would stop. I rather go work a fast food joint making minimum wage then have the possibility of jail over my head. So it "can" be used, but would it? I am sure there are plenty of people like me who would stop using it.
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It can exist, but for how long? If my government tells me that I will go to jail if I use it, then I would probably stop using it, and even if ever do, it would be for transactions and very quick, but most likely I would not. Which would hurt me a lot believe me, I get paid in crypto, so if I suddenly stopped getting paid, I have no salary and my whole life would be ruined, but I still would stop. I rather go work a fast food joint making minimum wage then have the possibility of jail over my head. So it "can" be used, but would it? I am sure there are plenty of people like me who would stop using it.
Well, the truth is that it is a respectable answer, perhaps in your country it is something else, there are more opportunities, in my case it is more Difficult , I work with Crypto, in fact I am a professional and I do not have a job as such because in my Country there is no Opportunities , and when you ask for a job in Europe, they simply don't stop me just because I'm from that Country If the government prohibits cryptocurrencies, I wouldn't let them, because the Government always wants to benefit in everything, and it doesn't Provide facilities, for For example, they take away our basic services, just so that the Capital of the country is well, that they tell me right now that they are Giving me a job and so I have to renounce my nationality I would do it Because if I had more I would have no doubts, when there is family that You must Maintain it , I think that one thing that matters most to you is your Well-being.
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What do you mean exactly? Do you think blockchain isn't anonymous?
Well, it may be not 100% anonymous, there is transaction details, we can track the address and the amount to transfer. However, it can be anonymous if we use mixer technology. I think we can try this services if we want to be real anonymous.
That's right, with a mixer all transactions on the blockchain can be more anonymous so it is often used for money laundering, but you need to know that if you want to make a purchase at a shop that accepts bitcoin as one of the payments, they will know the wallet you have and know the number of bitcoins you have. have so that transactions are no longer anonymous.
If I only know the wallet address and the number of bitcoins I have, it's actually not a problem, because we can move it to another address that is more private. For the mixer I use Electrum Wallet, this is more useful. We also heard that bitcoin mixers are banned in several countries because they are prone to money laundering.
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We also heard that bitcoin mixers are banned in several countries because they are prone to money laundering.
Mixers themselves are not prone to anything, including money laundering. Just because some abuse their characteristics and use them for illegal purposes does not mean that the entire industry should be banned. Mixers are just a tool, they are neutral. This is a particular human being who chooses the way those tolls could be used.
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Anonymous or not, it has no effect for me as a small investor, because I only see profits. Regarding anonymity, I honestly don't care, because my intention to invest in crypto is only to make a profit and earn income from the crypto world. Maybe everyone has their own perspective and opinion.
Even with such goals, the issue of anonymity may become relevant to you when you decide to withdraw your earnings into fiat form and use them. Depends on what jurisdiction you live in, of course, but in few places income from cryptocurrencies is completely legalized under such conditions that do not rip off a large portion of a person’s earnings in the form of taxes. Moreover, the issue of anonymity is also a security issue. If no one knows that you have valuable cryptocurrency, it is much more difficult to steal it.
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Mixers themselves are not prone to anything, including money laundering. Just because some abuse their characteristics and use them for illegal purposes does not mean that the entire industry should be banned. Mixers are just a tool, they are neutral. This is a particular human being who chooses the way those tolls could be used.
I think the main purpose of Mixer is to launder money so that in this way hackers and scammers often use Mixer to remove digital traces which are very clearly visible in the Blockchain system. Mixer is indeed a neutral tool but there is the potential for misuse as I mentioned above .
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If I only know the wallet address and the number of bitcoins I have, it's actually not a problem, because we can move it to another address that is more private. For the mixer I use Electrum Wallet, this is more useful. We also heard that bitcoin mixers are banned in several countries because they are prone to money laundering.
Yes, we can move the Bitcoin to another wallets. It is not a big problem whether we want to keep it in certain wallets.
I rarely used the service of Mixers, I only send the Bitcoin in the common way. If I send it with mixer service, I surely will make it to be untraceable transaction. Sure, it sometimes is needed but it is not for all transactions.
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Does your country have a plan to accept crypto? Are you willing to use crypto as a legal payment method alongside fiat currency?
My country is not very prosperous. In my country, a less developed country, if cryptocurrency is legalized in this country, this country will have more problems because the people of my country are not very educated and even those who are educated have not gained much knowledge about cryptocurrency. If they don't get much knowledge about cryptocurrency, if it is legalized in this country then people will invest without understanding and one day it will be seen that he is more damaged. So considering all aspects of my country, the government of this country has taken the most stringent decision not to legalize cryptocurrency. However, there is no guarantee that cryptocurrency will be legalized in my country in the future. Although I wish to use crypto as a legal payment method alongside fiat currency, making that wish from my country will not succeed because it has no effect in my country.
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Mixers themselves are not prone to anything, including money laundering. Just because some abuse their characteristics and use them for illegal purposes does not mean that the entire industry should be banned. Mixers are just a tool, they are neutral. This is a particular human being who chooses the way those tolls could be used.
I think the main purpose of Mixer is to launder money so that in this way hackers and scammers often use Mixer to remove digital traces which are very clearly visible in the Blockchain system. Mixer is indeed a neutral tool but there is the potential for misuse as I mentioned above .
I agree that mixers could be used for such goals. However, I would not name it a main purpose of mixers, because an intention not to be traced and remain anonymous doesn't always imply that we are talking about money laundering here. Sometimes it could be due to security reasons, or just due to the wish to stay in a shadow.
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I agree that mixers could be used for such goals. However, I would not name it a main purpose of mixers, because an intention not to be traced and remain anonymous doesn't always imply that we are talking about money laundering here. Sometimes it could be due to security reasons, or just due to the wish to stay in a shadow.
There are people who are more comfortable remaining anonymous because they have to reveal their identity or in this case have their transactions tracked. They use private technology from crypto. It doesn't mean they are doing money laundering or illegal activities. They use a mixer because they prefer this technology
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I agree that mixers could be used for such goals. However, I would not name it a main purpose of mixers, because an intention not to be traced and remain anonymous doesn't always imply that we are talking about money laundering here. Sometimes it could be due to security reasons, or just due to the wish to stay in a shadow.
There are people who are more comfortable remaining anonymous because they have to reveal their identity or in this case have their transactions tracked. They use private technology from crypto. It doesn't mean they are doing money laundering or illegal activities. They use a mixer because they prefer this technology
That is exactly what I meant above. The desire to remain anonymous can be due to various reasons, and money laundering is just one of them as well as some criminal activity. Many people simply like to be in the shadows because it makes them feel safer and stronger.
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That is exactly what I meant above. The desire to remain anonymous can be due to various reasons, and money laundering is just one of them as well as some criminal activity. Many people simply like to be in the shadows because it makes them feel safer and stronger.
Actually, not everyone who transacts in crypto is carrying out illegal activities such as money laundering. therefore only a handful of people misuse crypto. so it shouldn't be that one person is wrong, the other person is also considered wrong. Crypto needs legality to be used for transactions, so the government should consider it.
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I think the main purpose of Mixer is to launder money so that in this way hackers and scammers often use Mixer to remove digital traces which are very clearly visible in the Blockchain system. Mixer is indeed a neutral tool but there is the potential for misuse as I mentioned above .
So, if we use your way of reasoning, do knives have the sole purpose of stabbing people?. That kind of reasoning doesn't make any sense in my opinion. The tools we have can be used to do good and normal things, or to do bad and illegal things. It's not the mixer or the knife that does things wrong, it's the person using it and the purpose they want to give it. Internet users, including you and me, have a right to privacy when we browse the Internet, and that doesn't mean we hide anything, or that we want to hide illegal things, it's a right.
References:
Secretary-General’s Strategy on New Technologies (https://www.un.org/en/newtechnologies/index.shtml).
Res 68/167. The right to privacy in the digital age (https://documents.un.org/doc/undoc/gen/n13/449/47/pdf/n1344947.pdf?token=ZF6VUG17yBw6uoMgRv&fe=true).
Res 69/166. The right to privacy in the digital age (https://documents.un.org/doc/undoc/gen/n14/707/03/pdf/n1470703.pdf?token=iKjzWRTfq9ywxIxKyu&fe=true).
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Crypto needs legality to be used for transactions, so the government should consider it.
The government will consider it due to its own interest. There is a pretty big chance that they will destroy the whole essence of cryptocurrencies by implementing regulations. Crypto is not really a convenient way to make some illegal activities. Cash is much more useful for it, if we think about it. But the image of crypto being used for money laundering or other criminal actions was created and it stuck with it, unfortunately.
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The government will consider it due to its own interest. There is a pretty big chance that they will destroy the whole essence of cryptocurrencies by implementing regulations. Crypto is not really a convenient way to make some illegal activities. Cash is much more useful for it, if we think about it. But the image of crypto being used for money laundering or other criminal actions was created and it stuck with it, unfortunately.
Maybe the regulations issued will only apply to the country with its government, because if the government of another country regulates our country then that won't be able to happen, the policies of each government in the country will be different, currently there may still be many who consider bitcoin as a digital currency which is not legal, but there are also those who think this is a legal digital currency in the country of El Salvador.
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If I only know the wallet address and the number of bitcoins I have, it's actually not a problem, because we can move it to another address that is more private. For the mixer I use Electrum Wallet, this is more useful. We also heard that bitcoin mixers are banned in several countries because they are prone to money laundering.
Yes, we can move the Bitcoin to another wallets. It is not a big problem whether we want to keep it in certain wallets.
I rarely used the service of Mixers, I only send the Bitcoin in the common way. If I send it with mixer service, I surely will make it to be untraceable transaction. Sure, it sometimes is needed but it is not for all transactions.
Yeah I think shady transactions like from gambling uses this services or any illegal funds but since we are good with the traditional transactions I don't think we need to use mixing services not unless we need it. Though I am not involved yet in gambling using crypto but I know our local e-wallets and exchanges will freeze funds from gambling platforms or the like.
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The government will consider it due to its own interest. There is a pretty big chance that they will destroy the whole essence of cryptocurrencies by implementing regulations. Crypto is not really a convenient way to make some illegal activities. Cash is much more useful for it, if we think about it. But the image of crypto being used for money laundering or other criminal actions was created and it stuck with it, unfortunately.
Maybe the regulations issued will only apply to the country with its government, because if the government of another country regulates our country then that won't be able to happen, the policies of each government in the country will be different, currently there may still be many who consider bitcoin as a digital currency which is not legal, but there are also those who think this is a legal digital currency in the country of El Salvador.
Yes, the policy of different countries in relation to cryptocurrencies differs. But still, there are leading countries that others will emulate in one way or another. Or at least accurately take into account the experience of these leading countries, because such countries can influence less powerful countries through economic and political decisions. Therefore, the strongest set the tone, and they do it in their own interests. The rest may change something within their countries, but not too significantly, in my opinion. And it will be so because the world is too closely connected by economic interests that no one wants to risk.
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If I only know the wallet address and the number of bitcoins I have, it's actually not a problem, because we can move it to another address that is more private. For the mixer I use Electrum Wallet, this is more useful. We also heard that bitcoin mixers are banned in several countries because they are prone to money laundering.
Yes, we can move the Bitcoin to another wallets. It is not a big problem whether we want to keep it in certain wallets.
I rarely used the service of Mixers, I only send the Bitcoin in the common way. If I send it with mixer service, I surely will make it to be untraceable transaction. Sure, it sometimes is needed but it is not for all transactions.
Yeah I think shady transactions like from gambling uses this services or any illegal funds but since we are good with the traditional transactions I don't think we need to use mixing services not unless we need it. Though I am not involved yet in gambling using crypto but I know our local e-wallets and exchanges will freeze funds from gambling platforms or the like.
sometimes it's not just frozen, if we deal with the bank our flow of funds will be tracked making it difficult to carry out loan transactions that link bank accounts,
I was confused as to why this was so, the effects of gambling plafroms were very bad in life
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sometimes it's not just frozen, if we deal with the bank our flow of funds will be tracked making it difficult to carry out loan transactions that link bank accounts,
I was confused as to why this was so, the effects of gambling plafroms were very bad in life
Exactly, therefore, when you have made a lot of profit from cryptocurrency, it is better to keep all your assets in a digital wallet such as Electrum or others. Never store it in an exchange wallet because we don't know how long the exchange will be around.
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sometimes it's not just frozen, if we deal with the bank our flow of funds will be tracked making it difficult to carry out loan transactions that link bank accounts,
I was confused as to why this was so, the effects of gambling plafroms were very bad in life
Exactly, therefore, when you have made a lot of profit from cryptocurrency, it is better to keep all your assets in a digital wallet such as Electrum or others. Never store it in an exchange wallet because we don't know how long the exchange will be around.
If you want to save assets for the long term, don't exchange them, it's very dangerous. It's best to keep it in a safe wallet, personal wallet. Electrum wallet is also good and safe. However, if we still want to trade, saving in a reputable exchange is no problem
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sometimes it's not just frozen, if we deal with the bank our flow of funds will be tracked making it difficult to carry out loan transactions that link bank accounts,
I was confused as to why this was so, the effects of gambling plafroms were very bad in life
Exactly, therefore, when you have made a lot of profit from cryptocurrency, it is better to keep all your assets in a digital wallet such as Electrum or others. Never store it in an exchange wallet because we don't know how long the exchange will be around.
Yeah if he plans to leave it there for a while then non custodial wallets or hardware wallets are athe best choice to store cryptocurrency assets. I don't personally store assets on exchanges unless a trusted and is on the top 5 but I only use it short term.
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Exactly, therefore, when you have made a lot of profit from cryptocurrency, it is better to keep all your assets in a digital wallet such as Electrum or others. Never store it in an exchange wallet because we don't know how long the exchange will be around.
Exchanges are for trading, not for storing assets, but in reality, many users have considered Binance or Coinbase as personal wallets to store a lot of money. Honestly, we always want to make more profit from our assets, and Simple Earn or staking on CEXs is really attractive. Coinbase understands this, so they continue to maintain staking instead of giving up to avoid trouble with the SEC.
In crypto-friendly countries, users can feel secure using CEXs, even storing a lot of money on CEXs. In countries with an unclear view of crypto or constantly changing policies towards crypto, users should prioritize self-custody of crypto in personal wallets to avoid problems. For example, in Nigeria, users are facing the risk that their personal data when using Binance will be made public under pressure from the government.
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sometimes it's not just frozen, if we deal with the bank our flow of funds will be tracked making it difficult to carry out loan transactions that link bank accounts,
I was confused as to why this was so, the effects of gambling plafroms were very bad in life
Exactly, therefore, when you have made a lot of profit from cryptocurrency, it is better to keep all your assets in a digital wallet such as Electrum or others. Never store it in an exchange wallet because we don't know how long the exchange will be around.
Yeah if he plans to leave it there for a while then non custodial wallets or hardware wallets are athe best choice to store cryptocurrency assets. I don't personally store assets on exchanges unless a trusted and is on the top 5 but I only use it short term.
You are right, we can use a wallet exchange for the short term and the nominal amount is not that big, and even then we have to choose a large exchange with a good reputation. Because if FTX has the same fate as FTX, we will lose our assets
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In crypto-friendly countries, users can feel secure using CEXs, even storing a lot of money on CEXs. In countries with an unclear view of crypto or constantly changing policies towards crypto, users should prioritize self-custody of crypto in personal wallets to avoid problems. For example, in Nigeria, users are facing the risk that their personal data when using Binance will be made public under pressure from the government.
Even in crypto-friendly countries storing large amount of crypto on CEXes is not safe enough, because exchanges could be attacked or hacked. Moreover, when you store your assets on CEXes you don't really own them. The exchange is an owner, which gives you some kind of a certificate of ownership. But the exchange can make your assets unavailable or postpone withdrawals thus limiting your options and freedom.
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sometimes it's not just frozen, if we deal with the bank our flow of funds will be tracked making it difficult to carry out loan transactions that link bank accounts,
I was confused as to why this was so, the effects of gambling plafroms were very bad in life
Exactly, therefore, when you have made a lot of profit from cryptocurrency, it is better to keep all your assets in a digital wallet such as Electrum or others. Never store it in an exchange wallet because we don't know how long the exchange will be around.
not our key , not our bitcoin so why entrust your funds in wallet that you don't owe ?
maybe instead of using centralized wallet then it is better to use off line or cold wallet , things that we mostly do because we need to secure our funds specially for long term than just thinking for easy manage here.
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Fortunately, I have no complications with withdrawing money and investing it in my country. ATM machines were made 5 years ago and the services are very easy and undemanding. There are also websites so that you don't have to go to certain cities.
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Even in crypto-friendly countries storing large amount of crypto on CEXes is not safe enough, because exchanges could be attacked or hacked. Moreover, when you store your assets on CEXes you don't really own them. The exchange is an owner, which gives you some kind of a certificate of ownership. But the exchange can make your assets unavailable or postpone withdrawals thus limiting your options and freedom.
I understand that the best way to secure crypto assets is through self-custody in personal accounts. However, this means giving up many benefits or profits from them. In crypto-friendly countries, the risk of CEXs being attacked and user accounts being frozen is not high, which can make users more comfortable.
The opposite can happen in countries like Nigeria: the government requires CEXs to provide user transaction data, the government blames CEXs, the government arrests people illegally... I don't think crypto can develop in such harsh conditions, even though crypto can still exist in personal accounts and be traded P2P.
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Even in crypto-friendly countries storing large amount of crypto on CEXes is not safe enough, because exchanges could be attacked or hacked. Moreover, when you store your assets on CEXes you don't really own them. The exchange is an owner, which gives you some kind of a certificate of ownership. But the exchange can make your assets unavailable or postpone withdrawals thus limiting your options and freedom.
I understand that the best way to secure crypto assets is through self-custody in personal accounts. However, this means giving up many benefits or profits from them. In crypto-friendly countries, the risk of CEXs being attacked and user accounts being frozen is not high, which can make users more comfortable.
The opposite can happen in countries like Nigeria: the government requires CEXs to provide user transaction data, the government blames CEXs, the government arrests people illegally... I don't think crypto can develop in such harsh conditions, even though crypto can still exist in personal accounts and be traded P2P.
It’s just important to set priorities and decide what is more important to you. Of course, exchanges are much more convenient to use and their commissions are lower than on cold wallets. There, your funds are easier to exchange, sell, withdraw or buy new assets. But if your priority is security, then the risks of storing cryptocurrency on an exchange will always be higher. And in this case, you should use a cold wallet that is not connected to the Internet.
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Fortunately, I have no complications with withdrawing money and investing it in my country. ATM machines were made 5 years ago and the services are very easy and undemanding. There are also websites so that you don't have to go to certain cities.
For withdrawing money that we earn from cryptocurrency in certain countries there may still be obstacles that ultimately make it difficult for us to withdraw money, but I am sure there will be many companies that will try to make it easier for traders who want to make withdrawals. Because in my country there is also an exchange that makes it very easy to withdraw cryptocurrency to fiat.
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Exactly, therefore, when you have made a lot of profit from cryptocurrency, it is better to keep all your assets in a digital wallet such as Electrum or others. Never store it in an exchange wallet because we don't know how long the exchange will be around.
No matter how you spread this information, people that will leave their coins on the exchange will leave their coins there and people that will used external wallet will make used of the external wallet, because when you look at the amount of coins that are stored on centralized exchanges, the coins are large and definitely they don't belong to the exchanges, it belongs to the users who decide to keep their coins on such exchanges. If you do some math's and calculate the amount of coins in the hands of exchange, is usually larger than the coins on external wallets.
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Fortunately, I have no complications with withdrawing money and investing it in my country. ATM machines were made 5 years ago and the services are very easy and undemanding. There are also websites so that you don't have to go to certain cities.
For withdrawing money that we earn from cryptocurrency in certain countries there may still be obstacles that ultimately make it difficult for us to withdraw money, but I am sure there will be many companies that will try to make it easier for traders who want to make withdrawals. Because in my country there is also an exchange that makes it very easy to withdraw cryptocurrency to fiat.
In fact, in many countries it is easy to withdraw money from crypto which is converted to dollars or FIAT in that country, although not in cash because there are ATMs, we can do it at our country's local exchange. So far I have used it safely and easily.
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If you want to save assets for the long term, don't exchange them, it's very dangerous. It's best to keep it in a safe wallet, personal wallet. Electrum wallet is also good and safe. However, if we still want to trade, saving in a reputable exchange is no problem
I think many of us sometimes overlook the logical aspects of exchange usage. For those who trade often, it would make more sense to leave your trading funds on the exchange you use frequently to minimize transaction fees associated with moving funds between wallets. However, you should be aware that your funds are in the hands of another individual, so you should always be vigilant and keep checking. On the other hand, for those who are holding onto assets for the long term or for reasons unrelated to trading, it would make more sense to store them in an external wallet.
Exactly, therefore, when you have made a lot of profit from cryptocurrency, it is better to keep all your assets in a digital wallet such as Electrum or others. Never store it in an exchange wallet because we don't know how long the exchange will be around.
In crypto-friendly countries, users can feel secure using CEXs, even storing a lot of money on CEXs. In countries with an unclear view of crypto or constantly changing policies towards crypto, users should prioritize self-custody of crypto in personal wallets to avoid problems. For example, in Nigeria, users are facing the risk that their personal data when using Binance will be made public under pressure from the government.
I don't think Nigerians currently have too much business with Binance since the peer-to-peer medium isn't available to them. Although there are a few services they can utilize, I came across news that doesn't make sense from any angle. Are all Nigerian Binance users under investigation or what? Like I said before, Binance would really love to see more involvement from Nigerian traders, which might possibly result in them releasing such sensitive data. Just saying...
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I don't think Nigerians currently have too much business with Binance since the peer-to-peer medium isn't available to them. Although there are a few services they can utilize, I came across news that doesn't make sense from any angle. Are all Nigerian Binance users under investigation or what? Like I said before, Binance would really love to see more involvement from Nigerian traders, which might possibly result in them releasing such sensitive data. Just saying...
I don't know specifically what Binance has done in Nigeria, I just believe that Binance is not causing the devaluation of the local currency. Binance also always tries to comply with the regulations of countries, there is no reason for them to do anything too dangerous in Negeria - a country with constantly changing views on crypto. We don't know yet whether Binance has handed over Nigerian user data, I just hope that Binance can find the best way to overcome the accusations and demands from the Nigerian government and will never return to that dangerous market again.
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If we are to go by the virtue of things we want to see with cryptocurrency, i don't think we need the government intervention in making any of these decision for us on how to engage on the use of cryptocurrency because it will make no difference to where we were coming from with the use of the commercial banks and the fiat currency, it is more better that they leave it as it has always been, moreover there's nothing they can achieve in taking over a decentralized blockchain network.
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Before governments, crypto can Exist , in fact yes, my answer is yes, where governments want to regulate this crypto, how can they do it? If we have good support with a protection system with the Tor network, a good VPN we can have access to crypto, this cannot be traced by the government, in fact not even the FBI can do something like that, so I don't think a government would to record every traffic that is suspicious because they will not find anything, they will get lost in their attempts, and that can cause the deaths to be different for the people who want this, like they do in China ? They use these protocols to make their transactions, for Everything there is always a trick, the giboern? Ha, what does a Government do apart from getting rich? for his people? eventually nothing.
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Before governments, crypto can Exist , in fact yes, my answer is yes, where governments want to regulate this crypto, how can they do it? If we have good support with a protection system with the Tor network, a good VPN we can have access to crypto, this cannot be traced by the government, in fact not even the FBI can do something like that, so I don't think a government would to record every traffic that is suspicious because they will not find anything, they will get lost in their attempts, and that can cause the deaths to be different for the people who want this, like they do in China ? They use these protocols to make their transactions, for Everything there is always a trick, the giboern? Ha, what does a Government do apart from getting rich? for his people? eventually nothing.
In fact, what the government is doing by making laws regarding the use of crypto is only to protect its citizens, so that crypto users will feel safe and comfortable. Even though the government cannot track what its citizens can do, because crypto technology is anonymous, the government cannot do anything and it is only a guess when there is misuse of crypto.
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In fact, what the government is doing by making laws regarding the use of crypto is only to protect its citizens, so that crypto users will feel safe and comfortable. Even though the government cannot track what its citizens can do, because crypto technology is anonymous, the government cannot do anything and it is only a guess when there is misuse of crypto.
When the government tries to pass laws regarding the use of crypto in their country, they try to control the circulation of crypto in their country. In fact, as far as I know, cryptocurrency cannot be controlled by anyone because its price movements are very volatile and unstable.
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I don't know specifically what Binance has done in Nigeria, I just believe that Binance is not causing the devaluation of the local currency. Binance also always tries to comply with the regulations of countries, there is no reason for them to do anything too dangerous in Negeria - a country with constantly changing views on crypto. We don't know yet whether Binance has handed over Nigerian user data, I just hope that Binance can find the best way to overcome the accusations and demands from the Nigerian government and will never return to that dangerous market again.
Currently, the new administration has been eager to generate supposed tasks from every possible angle. Not just Binance, but some notable people in Nigerian society are under investigation. What I clearly understand here is that the Nigerian government wants only money from Binance and nothing else. I saw the recent lawsuit where the government fined Binance $10 billion. All this excessive force on Binance proves that they want to extract money from them.
https://www.premiumtimesng.com/business/business-news/673361-nigeria-govt-slams-10-billion-fine-on-binance.html
In fact, what the government is doing by making laws regarding the use of crypto is only to protect its citizens, so that crypto users will feel safe and comfortable. Even though the government cannot track what its citizens can do, because crypto technology is anonymous, the government cannot do anything and it is only a guess when there is misuse of crypto.
Well, this might be applicable to some countries, but it ain't really what the government of other countries truly fights for. I don't want to speak from a political view, but I think most governments just don't want their citizens to get involved in things that are outside their influence or control. Just imagine my country, for example, where most of the gas stations, banks, shopping malls, real estate, universities, etc., are owned by those in government or those related to the government. Cryptocurrency certainly offers something that differs, and it's not under their control. How will people keep leaving their money in the bank when crypto offers something else? How will people invest in real estate when crypto investment appreciates faster?(though not all project). This is indeed a big threat to those who feel threatened. Crypto is freedom, and not every government would want to give that freedom.
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In fact, what the government is doing by making laws regarding the use of crypto is only to protect its citizens, so that crypto users will feel safe and comfortable. Even though the government cannot track what its citizens can do, because crypto technology is anonymous, the government cannot do anything and it is only a guess when there is misuse of crypto.
When the government tries to pass laws regarding the use of crypto in their country, they try to control the circulation of crypto in their country. In fact, as far as I know, cryptocurrency cannot be controlled by anyone because its price movements are very volatile and unstable.
The government will not be able to control crypto, they will only take taxes from transactions. We all know crypro is semi anonymous... How can the government control it. They only know about the transaction when they do it on the local exchange. So permission from the government is actually not really necessary
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Currently, the new administration has been eager to generate supposed tasks from every possible angle. Not just Binance, but some notable people in Nigerian society are under investigation. What I clearly understand here is that the Nigerian government wants only money from Binance and nothing else. I saw the recent lawsuit where the government fined Binance $10 billion. All this excessive force on Binance proves that they want to extract money from them.
https://www.premiumtimesng.com/business/business-news/673361-nigeria-govt-slams-10-billion-fine-on-binance.html
I've also heard about the $10B fine, but that's just third-party news, and the Nigerian government hasn't made any announcements about it. I also think they want money from Binance after seeing how easily the US DOJ was able to get $4B from Binance, and the government could also blame crypto when they can't solve domestic economic problems. We'll wait for the outcome of this drama, I really hope Binance will find a way to work things out to safely withdraw from Nigeria. With the current government, Nigeria is not a country suitable to embrace the benefits of crypto.
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Currently, the new administration has been eager to generate supposed tasks from every possible angle. Not just Binance, but some notable people in Nigerian society are under investigation. What I clearly understand here is that the Nigerian government wants only money from Binance and nothing else. I saw the recent lawsuit where the government fined Binance $10 billion. All this excessive force on Binance proves that they want to extract money from them.
https://www.premiumtimesng.com/business/business-news/673361-nigeria-govt-slams-10-billion-fine-on-binance.html
I've also heard about the $10B fine, but that's just third-party news, and the Nigerian government hasn't made any announcements about it. I also think they want money from Binance after seeing how easily the US DOJ was able to get $4B from Binance, and the government could also blame crypto when they can't solve domestic economic problems. We'll wait for the outcome of this drama, I really hope Binance will find a way to work things out to safely withdraw from Nigeria. With the current government, Nigeria is not a country suitable to embrace the benefits of crypto.
Or maybe it’s not the government of Nigeria, but the stock exchange? There is a saying “take the burden with you so as not to bend when walking.” Well, and besides, from a global perspective, this shows how cryptocurrency does not depend on government permissions, if suddenly all governments decide take on this issue, then everything will end very quickly and with a big badabum.
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In fact, what the government is doing by making laws regarding the use of crypto is only to protect its citizens, so that crypto users will feel safe and comfortable. Even though the government cannot track what its citizens can do, because crypto technology is anonymous, the government cannot do anything and it is only a guess when there is misuse of crypto.
When the government tries to pass laws regarding the use of crypto in their country, they try to control the circulation of crypto in their country. In fact, as far as I know, cryptocurrency cannot be controlled by anyone because its price movements are very volatile and unstable.
The government will not be able to control crypto, they will only take taxes from transactions. We all know crypro is semi anonymous... How can the government control it. They only know about the transaction when they do it on the local exchange. So permission from the government is actually not really necessary
Permission from the government to protect its citizens and some to prevent money laundering. As far as I know, in my country we are only allowed to invest in crypto, not to use crypto as a payment method. In my opinion, permission is required, because after all, every country has its rules
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Permission from the government to protect its citizens and some to prevent money laundering. As far as I know, in my country we are only allowed to invest in crypto, not to use crypto as a payment method. In my opinion, permission is required, because after all, every country has its rules
Exactly, each country has its own policy. If your country has a policy that cryptocurrency is only used for investment then that's good enough. Because countries like China and several other large countries have policies strictly prohibiting the use of cryptocurrency for investment and payment methods.
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Permission from the government to protect its citizens and some to prevent money laundering. As far as I know, in my country we are only allowed to invest in crypto, not to use crypto as a payment method. In my opinion, permission is required, because after all, every country has its rules
Exactly, each country has its own policy. If your country has a policy that cryptocurrency is only used for investment then that's good enough. Because countries like China and several other large countries have policies strictly prohibiting the use of cryptocurrency for investment and payment methods.
The principle is that the state can protect its citizens as much as possible, so it is not surprising that the policies made will be adjusted to the country's situation. So it seems like there are those who prohibit it from being used as a legal means of payment, but it is still allowed to be traded or invested.
Big countries like China, because the mining carried out by that country is very detrimental to the environment, so there is a ban, as well as perhaps other countries, because there are other problems. It could be to avoid money laundering from cartels and many other things for every country that refuses.
But with advances in technology, it is possible that every citizen whose country prohibits it can still carry out transactions, but this clearly violates the rules.
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Permission from the government to protect its citizens and some to prevent money laundering. As far as I know, in my country we are only allowed to invest in crypto, not to use crypto as a payment method. In my opinion, permission is required, because after all, every country has its rules
Exactly, each country has its own policy. If your country has a policy that cryptocurrency is only used for investment then that's good enough. Because countries like China and several other large countries have policies strictly prohibiting the use of cryptocurrency for investment and payment methods.
If it is prohibited in other countries, such as what you call China, many of its citizens invest there. The Chinese government should have a policy that protects its citizens from investing in crypto by providing investment permits.
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If it is prohibited in other countries, such as what you call China, many of its citizens invest there. The Chinese government should have a policy that protects its citizens from investing in crypto by providing investment permits.
Even though they have more citizens than other countries, they know the level of risk that can occur when trading and there also implement very strict regulations regarding the use of cryptocurrency so that the residents there are very compliant with these rules.
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If it is prohibited in other countries, such as what you call China, many of its citizens invest there. The Chinese government should have a policy that protects its citizens from investing in crypto by providing investment permits.
Even though they have more citizens than other countries, they know the level of risk that can occur when trading and there also implement very strict regulations regarding the use of cryptocurrency so that the residents there are very compliant with these rules.
I agree with your suggestion, the Chinese government should give permission for its citizens to invest in crypto by making regulations so that its citizens feel safe and protected. Because previously it was heard that the Chinese government was banning mining, for several reasons.
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The government will not be able to control crypto, they will only take taxes from transactions. We all know crypro is semi anonymous... How can the government control it. They only know about the transaction when they do it on the local exchange. So permission from the government is actually not really necessary
Actually, they are able to control crypto sphere and more likely they will be doing it in the near future. Of course, this will not be done directly, but obliquely. I think mainly through banning unauthorized payments without an explained history, which is already the case in Europe, because of which people will be forced to declare income from cryptocurrencies and pay taxes on them. And in this case, anonymity can no longer be maintained.
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The government will not be able to control crypto, they will only take taxes from transactions. We all know crypro is semi anonymous... How can the government control it. They only know about the transaction when they do it on the local exchange. So permission from the government is actually not really necessary
Actually, they are able to control crypto sphere and more likely they will be doing it in the near future. Of course, this will not be done directly, but obliquely. I think mainly through banning unauthorized payments without an explained history, which is already the case in Europe, because of which people will be forced to declare income from cryptocurrencies and pay taxes on them. And in this case, anonymity can no longer be maintained.
Isn't it possible for the government to find out about crypto money after we make transactions on local exchanges, so that we are subject to tax. If you have to report the number of crypto assets, that's really ridiculous because we never know when the value will fall during a bearish season.
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Isn't it possible for the government to find out about crypto money after we make transactions on local exchanges, so that we are subject to tax. If you have to report the number of crypto assets, that's really ridiculous because we never know when the value will fall during a bearish season.
Nobody said that governments really understand the crypto sphere. They create laws due to their own understanding of how people should pay taxes. But those taxes could have nothing to do with the peculiarities of cryptocurrencies. Those regulations would not work very well, but who cares, for most state institutions it is much more important just ti make a vision that they take everything under control.
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If it is prohibited in other countries, such as what you call China, many of its citizens invest there. The Chinese government should have a policy that protects its citizens from investing in crypto by providing investment permits.
Even though they have more citizens than other countries, they know the level of risk that can occur when trading and there also implement very strict regulations regarding the use of cryptocurrency so that the residents there are very compliant with these rules.
It's true, even though the population is the second largest after India, they can apply all the rules well, so that their citizens don't violate the rules that have been made, all because they are supported by their officials who can be disciplined in implementing the rules, including crypto, which is prohibited, and the officials there are not trapped to carry out manipulation.
So it is not surprising that they are able to become a country with very fast economic growth.
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If it is prohibited in other countries, such as what you call China, many of its citizens invest there. The Chinese government should have a policy that protects its citizens from investing in crypto by providing investment permits.
Even though they have more citizens than other countries, they know the level of risk that can occur when trading and there also implement very strict regulations regarding the use of cryptocurrency so that the residents there are very compliant with these rules.
It's true, even though the population is the second largest after India, they can apply all the rules well, so that their citizens don't violate the rules that have been made, all because they are supported by their officials who can be disciplined in implementing the rules, including crypto, which is prohibited, and the officials there are not trapped to carry out manipulation.
So it is not surprising that they are able to become a country with very fast economic growth.
China is always discussed in crypto, it needs government support, but to this day it still hasn't. The problem is that enforcement of the rules there is strict and the residents obey the rules, in my opinion that's not all. Because they are also looking to become bitcoin miners in other countries, rich people will do anything for their business
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The government will not be able to control crypto, they will only take taxes from transactions. We all know crypro is semi anonymous... How can the government control it. They only know about the transaction when they do it on the local exchange. So permission from the government is actually not really necessary
Actually, they are able to control crypto sphere and more likely they will be doing it in the near future. Of course, this will not be done directly, but obliquely. I think mainly through banning unauthorized payments without an explained history, which is already the case in Europe, because of which people will be forced to declare income from cryptocurrencies and pay taxes on them. And in this case, anonymity can no longer be maintained.
Isn't it possible for the government to find out about crypto money after we make transactions on local exchanges, so that we are subject to tax. If you have to report the number of crypto assets, that's really ridiculous because we never know when the value will fall during a bearish season.
There is always a loophole for anyone to do something that is not in accordance with government directions, so it is not impossible that they do not carry out transactions with local exchanges but with exchanges that are not connected to the government, so they do not pay taxes. Remember, the nature of crypto is that it cannot be controlled, and it is possible that if the government cannot or is capable of implementing strict regulations, someone will commit this violation. There must be a mechanism that can make them willing to pay what has been determined by the government.
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Isn't it possible for the government to find out about crypto money after we make transactions on local exchanges, so that we are subject to tax. If you have to report the number of crypto assets, that's really ridiculous because we never know when the value will fall during a bearish season.
There is always a loophole for anyone to do something that is not in accordance with government directions, so it is not impossible that they do not carry out transactions with local exchanges but with exchanges that are not connected to the government, so they do not pay taxes. Remember, the nature of crypto is that it cannot be controlled, and it is possible that if the government cannot or is capable of implementing strict regulations, someone will commit this violation. There must be a mechanism that can make them willing to pay what has been determined by the government.
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This should not be a mechanism of compulsion, but reasons for a conscious choice to pay such a tax. So far, governments are not providing them. Strengthening control and attempts to limit the cryptosphere will only lead, in my opinion, to the fact that crypto people will find ways to go into the shadows. Neither the crypto industry nor the state will benefit from this. The forcing methods that most governments now use in relation to cryptocurrencies will not achieve the result they claim. This leads to the conclusion that governments, in fact, are not interested in the implementation of the cryptosphere in other areas of life, but in establishing total vertical control over it for their own benefit.
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This should not be a mechanism of compulsion, but reasons for a conscious choice to pay such a tax. So far, governments are not providing them. Strengthening control and attempts to limit the cryptosphere will only lead, in my opinion, to the fact that crypto people will find ways to go into the shadows. Neither the crypto industry nor the state will benefit from this. The forcing methods that most governments now use in relation to cryptocurrencies will not achieve the result they claim. This leads to the conclusion that governments, in fact, are not interested in the implementation of the cryptosphere in other areas of life, but in establishing total vertical control over it for their own benefit.
You are right, the government is just trying to control crypto but in my opinion it can never be done. One way the government can do this is by taking taxes from crypto transactions on local exchanges, because this can increase government income. In my opinion, at the moment maybe some countries are not interested in adopting crypto technology, but I believe that it will happen in the future when everything will become crypto, because this is the technology of the future
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This should not be a mechanism of compulsion, but reasons for a conscious choice to pay such a tax. So far, governments are not providing them. Strengthening control and attempts to limit the cryptosphere will only lead, in my opinion, to the fact that crypto people will find ways to go into the shadows. Neither the crypto industry nor the state will benefit from this. The forcing methods that most governments now use in relation to cryptocurrencies will not achieve the result they claim. This leads to the conclusion that governments, in fact, are not interested in the implementation of the cryptosphere in other areas of life, but in establishing total vertical control over it for their own benefit.
You are right, the government is just trying to control crypto but in my opinion it can never be done. One way the government can do this is by taking taxes from crypto transactions on local exchanges, because this can increase government income. In my opinion, at the moment maybe some countries are not interested in adopting crypto technology, but I believe that it will happen in the future when everything will become crypto, because this is the technology of the future
If the government tries to take taxes for every transaction in cryptocurrency then it indicates that the government has succeeded in controlling the bitcoin market. But I see that in several countries, when withdrawing cryptocurrency and exchanging it for fiat currency, the government has implemented taxes in the sector using fiat currency.
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This should not be a mechanism of compulsion, but reasons for a conscious choice to pay such a tax. So far, governments are not providing them. Strengthening control and attempts to limit the cryptosphere will only lead, in my opinion, to the fact that crypto people will find ways to go into the shadows. Neither the crypto industry nor the state will benefit from this. The forcing methods that most governments now use in relation to cryptocurrencies will not achieve the result they claim. This leads to the conclusion that governments, in fact, are not interested in the implementation of the cryptosphere in other areas of life, but in establishing total vertical control over it for their own benefit.
You are right, the government is just trying to control crypto but in my opinion it can never be done. One way the government can do this is by taking taxes from crypto transactions on local exchanges, because this can increase government income. In my opinion, at the moment maybe some countries are not interested in adopting crypto technology, but I believe that it will happen in the future when everything will become crypto, because this is the technology of the future
If the government tries to take taxes for every transaction in cryptocurrency then it indicates that the government has succeeded in controlling the bitcoin market. But I see that in several countries, when withdrawing cryptocurrency and exchanging it for fiat currency, the government has implemented taxes in the sector using fiat currency.
By taking taxes from crypto transactions, it shows that the government has accepted the presence of crypto, although not completely. Because we can't use crypto as a payment method yet, but it is possible that the government will allow it in the future.
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By taking taxes from crypto transactions, it shows that the government has accepted the presence of crypto, although not completely. Because we can't use crypto as a payment method yet, but it is possible that the government will allow it in the future.
Hmm, we have been too optimistic about the possibility of this on global scale. El Salvador may have been very successful in adopting BTC as legal tender, but the same is unlikely to apply to large economies like the US, Germany, UK, Japan... Another important point is that El Salvador does not have its local currency, meaning that crypto and BTC do not affect the ability to manage the economy through monetary policy. In the meantime, the global economy is operating on debt, meaning that central banks can print more money to intervene in the economy. Clearly, I don't think governments are ready to give up this right, I think the local currency is as important as the military.
What I dare to hope for now is that BTC and crypto can be accepted as a legal asset: to be mined, traded, accumulated, and used in payments through crypto-fiat conversion gateways. Currently, BTC is chosen as an investment asset by many large companies and investment funds, it would be better if BTC is soon included in the reserve asset portfolio of many countries.
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You are right, the government is just trying to control crypto but in my opinion it can never be done. One way the government can do this is by taking taxes from crypto transactions on local exchanges, because this can increase government income. In my opinion, at the moment maybe some countries are not interested in adopting crypto technology, but I believe that it will happen in the future when everything will become crypto, because this is the technology of the future
If the government tries to take taxes for every transaction in cryptocurrency then it indicates that the government has succeeded in controlling the bitcoin market. But I see that in several countries, when withdrawing cryptocurrency and exchanging it for fiat currency, the government has implemented taxes in the sector using fiat currency.
By taking taxes from crypto transactions, it shows that the government has accepted the presence of crypto, although not completely. Because we can't use crypto as a payment method yet, but it is possible that the government will allow it in the future.
It is not as easy as we imagine, that by paying taxes, we can be sure that the government is in line and will accept crypto as a means of payment.
When it comes to taxes, the government is very smart and knows the need, but to be able to accept it as a legal means of payment, there will definitely be pros and cons, because it involves many institutions that all feel entitled to do so.
Also, look at the readiness of the community to see whether they are able and able to accept it, it is still too early for that.