Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: MrSpasybo on December 24, 2023, 02:43:21 PM
-
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?
-
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.
-
True. Cryptocurrency markets can function without direct government authorization due to their decentralized nature, facilitated by blockchain technology.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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
-
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)
-
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
-
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.
-
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.
-
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.
-
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.
-
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...
-
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.
-
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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,.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
-snip-
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.
-
- 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.
-
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.
-
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.
-
-snip-
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 !
-
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.
-
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. 😅
-
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.
-
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.
-
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.
-
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.
-
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.
-
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 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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
....
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 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.
-
....
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.
-
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.
-
....
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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...
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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 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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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 .
-
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.
-
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.
-
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.
-
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
-
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.
-
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.
-
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).
-
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.
-
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.
-
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.
-
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.
-
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
-
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.
-
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
-
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.
-
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.
-
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
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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...
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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
-
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.
-
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.
-
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
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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
-
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.
-
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.
[/quote]
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.
-
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
-
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.
-
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.
-
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.
-
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.
-
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.
Yeah, the taxation of crypto simply indicates that governments view them as a type of asset or investment, similar to stocks, commodities, real estate, or inherited property. Taxes are not characteristic of a means of payment, and fiat is not taxed because they are not investments. For crypto to be accepted as a means of payment, more time is needed, and I am also not sure if this is the highest priority.
In the bull run 2017, we once thought of economic models in which cryptocurrencies were used for the purpose of paying medical or transportation expenses, similar to how we use BTC and ETH to pay transaction fees. However, I do not think that this can be done because it would make it difficult to declare taxes, so I think that we should not expect too much from the adoption of crypto into the economy. For the time being, I only consider crypto to be commodities and financial instruments.
-
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.
I know taxing crypto transactions may actually portray some level of acceptance or recognition, but that actually doesn't mean they they've fully accepted crypto, let alone allowing it to be adopted as a method of payment, i believe the only reason they're showing somewhat level of interest and acceptance is simply because they're also benefiting from every transaction.
The government are only motivated to tax crypto transactions simply because they're also sharing the profits offered by cryptocurrency, rather than fully adopting and accepting it as legal tender.
As a matter of fact, the government taxing cryptocurrency transactions could actually be a their own method or technique to gain control over the market and try to regulate what happens there in every possible way they can.
-
Does your country have a plan to accept crypto? Are you willing to use crypto as a legal payment method alongside fiat currency?
It cannot be said that our country has fully accepted cryptocurrencies, but there are already several regulations regarding cryptocurrencies. Such as tax on income from crypto and the release of a list of crypto that is legal to trade, this shows that in fact in our country there is no prohibition on cryptocurrencies.
And if possible, we will definitely also use crypto for buying and selling transactions, but for now all of that is prohibited.
-
Does your country have a plan to accept crypto? Are you willing to use crypto as a legal payment method alongside fiat currency?
It cannot be said that our country has fully accepted cryptocurrencies, but there are already several regulations regarding cryptocurrencies. Such as tax on income from crypto and the release of a list of crypto that is legal to trade, this shows that in fact in our country there is no prohibition on cryptocurrencies.
And if possible, we will definitely also use crypto for buying and selling transactions, but for now all of that is prohibited.
Crypto is still prohibited in several countries for payment methods but is permitted for investment, I think this is good enough for the development of crypto in several countries. because its citizens can invest safely.
-
Does your country have a plan to accept crypto? Are you willing to use crypto as a legal payment method alongside fiat currency?
It cannot be said that our country has fully accepted cryptocurrencies, but there are already several regulations regarding cryptocurrencies. Such as tax on income from crypto and the release of a list of crypto that is legal to trade, this shows that in fact in our country there is no prohibition on cryptocurrencies.
And if possible, we will definitely also use crypto for buying and selling transactions, but for now all of that is prohibited.
Crypto is still prohibited in several countries for payment methods but is permitted for investment, I think this is good enough for the development of crypto in several countries. because its citizens can invest safely.
Yes, I see that too, the longer I feel the development of crypto, the more rapid it is. Every day new projects appear, so if we don't get in soon then we will miss out on this technology.
And of course, the absence of a ban on cryptocurrencies by a country will certainly have more or less influence on the development of crypto in that country.
-
Yes, I see that too, the longer I feel the development of crypto, the more rapid it is. Every day new projects appear, so if we don't get in soon then we will miss out on this technology.
And of course, the absence of a ban on cryptocurrencies by a country will certainly have more or less influence on the development of crypto in that country.
Even though crypto is banned, crypto technology will still work and be used by countries that accept it well. because crypto is one of the technologies of the future, so no one can stop it. That's why several governments have started to accept crypto as an investment, even though not yet as a means of payment.
-
Even though crypto is banned, crypto technology will still work and be used by countries that accept it well. because crypto is one of the technologies of the future, so no one can stop it. That's why several governments have started to accept crypto as an investment, even though not yet as a means of payment.
In most of the countries where crypto was banned is permitted now because they have understood the value of crypto now and they know that it is useful for mankind.
If crypto is banned in Some countries then they will surely understand the value of crypto at a certain stage because it is going to be more valuable day by day so no one can ignore the importance of crypto. In many countries crypto has been accepted and in the remaining where there is no use of crypto still people have knowledge about it and are familiar with it so very soon there will be an initiation taking place.
-
Even though crypto is banned, crypto technology will still work and be used by countries that accept it well. because crypto is one of the technologies of the future, so no one can stop it. That's why several governments have started to accept crypto as an investment, even though not yet as a means of payment.
In most of the countries where crypto was banned is permitted now because they have understood the value of crypto now and they know that it is useful for mankind.
If crypto is banned in Some countries then they will surely understand the value of crypto at a certain stage because it is going to be more valuable day by day so no one can ignore the importance of crypto. In many countries crypto has been accepted and in the remaining where there is no use of crypto still people have knowledge about it and are familiar with it so very soon there will be an initiation taking place.
I think it's just a matter of time, countries that haven't yet accepted crypto are just waiting for them to learn the advantages and disadvantages of cry[p[to. Crypto is becoming increasingly popular, if they take too long to learn I think they will be left behind by countries that first accepted crypto.
-
Yes, I see that too, the longer I feel the development of crypto, the more rapid it is. Every day new projects appear, so if we don't get in soon then we will miss out on this technology.
And of course, the absence of a ban on cryptocurrencies by a country will certainly have more or less influence on the development of crypto in that country.
Even though crypto is banned, crypto technology will still work and be used by countries that accept it well. because crypto is one of the technologies of the future, so no one can stop it. That's why several governments have started to accept crypto as an investment, even though not yet as a means of payment.
I personally have felt positive things from the existence of this cryptocurrency industry, so I actually don't agree if, for example, our country prohibits activities in cryptocurrency. Luckily our country doesn't ban it, so we can still trade and invest in crypto.
Maybe in the past the countries that banned crypto saw that crypto was not useful or would be detrimental to their country so they banned it, but after seeing the huge development of crypto they changed their minds.
-
I personally have felt positive things from the existence of this cryptocurrency industry, so I actually don't agree if, for example, our country prohibits activities in cryptocurrency. Luckily our country doesn't ban it, so we can still trade and invest in crypto.
Maybe in the past the countries that banned crypto saw that crypto was not useful or would be detrimental to their country so they banned it, but after seeing the huge development of crypto they changed their minds.
Years ago, for example during the bull run 2017, the focus was solely on blockchain technology: countries and companies wanted to use blockchain for supply chains or decentralized data storage for healthcare, transportation, education... Currently, blockchain technology is more developed, but its adoption by businesses is still not really widespread, only some private blockchains have been tested on a small scale. In the meantime, crypto has developed strongly and is seen as a new market, a new asset class for investors.
I'm not sure if governments see the value of crypto to the economy, but they have at least recognized that taxes from crypto can help the country develop better. Crypto adoption can also create jobs, attract investment, and get votes from young voters - these are enough to make politicians think seriously about a national crypto strategy.
-
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).
The same ban that was lifted by the Nigeria government, a year ago, has turned out to be worse, that the same government that lifted the crypto ban is currently accusing the peer-to-peer trading of dollar to Nigeria currency(naira) on crypto exchanges like Binance, is guilty of making the dollar exchange to naira, the main cause why the dollar is increasing against the country currency(naira).
Currently, the Nigerian government is against the trading of peer to peer of crypto exchange to the country's currency. Binance has deactivated peer-to-peer orders of USDT to naira
-
Even though crypto is banned, crypto technology will still work and be used by countries that accept it well. because crypto is one of the technologies of the future, so no one can stop it. That's why several governments have started to accept crypto as an investment, even though not yet as a means of payment.
In most of the countries where crypto was banned is permitted now because they have understood the value of crypto now and they know that it is useful for mankind.
If crypto is banned in Some countries then they will surely understand the value of crypto at a certain stage because it is going to be more valuable day by day so no one can ignore the importance of crypto. In many countries crypto has been accepted and in the remaining where there is no use of crypto still people have knowledge about it and are familiar with it so very soon there will be an initiation taking place.
I think it's just a matter of time, countries that haven't yet accepted crypto are just waiting for them to learn the advantages and disadvantages of cry[p[to. Crypto is becoming increasingly popular, if they take too long to learn I think they will be left behind by countries that first accepted crypto.
Day by day it is becoming increasingly difficult to resist technological advances, including crypto. All countries will inevitably be involved indirectly in this activity because its spread is already very massive. It's just a matter of time because they also have to prepare the regulations. If not, it's not impossible that people are using it in an illegal way, and it's possible to do so.
-
I think it's just a matter of time, countries that haven't yet accepted crypto are just waiting for them to learn the advantages and disadvantages of cry[p[to. Crypto is becoming increasingly popular, if they take too long to learn I think they will be left behind by countries that first accepted crypto.
Day by day it is becoming increasingly difficult to resist technological advances, including crypto. All countries will inevitably be involved indirectly in this activity because its spread is already very massive. It's just a matter of time because they also have to prepare the regulations. If not, it's not impossible that people are using it in an illegal way, and it's possible to do so.
[/quote]
Yes, the government should make regulations for crypto. because we have been following crypto developments for a long time, where previously it was opposed and prohibited, now many countries are starting to accept it. No one will be able to resist technological advances, they will come with new advancements and advantages.
-
Does your country have a plan to accept crypto? Are you willing to use crypto as a legal payment method alongside fiat currency?
It cannot be said that our country has fully accepted cryptocurrencies, but there are already several regulations regarding cryptocurrencies. Such as tax on income from crypto and the release of a list of crypto that is legal to trade, this shows that in fact in our country there is no prohibition on cryptocurrencies.
And if possible, we will definitely also use crypto for buying and selling transactions, but for now all of that is prohibited.
Crypto is still prohibited in several countries for payment methods but is permitted for investment, I think this is good enough for the development of crypto in several countries. because its citizens can invest safely.
In my perspective that governments are implicitly allowing Bitcoin, even if they don't allow it directly. When investment is allowed in a country then Bitcoin will also be considered as a payment method in that country but it may take a little longer time. Some countries have already legalized crypto and the number will gradually increase. After the emergence of Bitcoin most of the governments of the world did not support Bitcoin but that did not decrease people's interest in Bitcoin.
-
In my perspective that governments are implicitly allowing Bitcoin, even if they don't allow it directly. When investment is allowed in a country then Bitcoin will also be considered as a payment method in that country but it may take a little longer time. Some countries have already legalized crypto and the number will gradually increase. After the emergence of Bitcoin most of the governments of the world did not support Bitcoin but that did not decrease people's interest in Bitcoin.
The statement to every country that implicitly allows bitcoin only occurs in countries that do from the beginning provide regulations that seem to allow, but not completely.
But looking at some developing countries or developed countries that banned bitcoin from the beginning, there is certainly no loophole anymore.
My country Indonesia makes bitcoin as a commodity asset, and it is a regulation that allows bitcoin as a trading asset but cannot be a means of payment.
But gradually regulation can also pay off depending on every regulation made and some research on the advantages of using crypto.
-
Now governments are banning P2P in Nigeria. But some exchanges still support thier currency. Binance, OKX and some exchanges stop supporting Nigerians currency on there P2P platform but Bitget and some other Exchanges still does. Nigerian government are really trying to stop crypto trading.
-
I personally have felt positive things from the existence of this cryptocurrency industry, so I actually don't agree if, for example, our country prohibits activities in cryptocurrency. Luckily our country doesn't ban it, so we can still trade and invest in crypto.
Maybe in the past the countries that banned crypto saw that crypto was not useful or would be detrimental to their country so they banned it, but after seeing the huge development of crypto they changed their minds.
Years ago, for example during the bull run 2017, the focus was solely on blockchain technology: countries and companies wanted to use blockchain for supply chains or decentralized data storage for healthcare, transportation, education... Currently, blockchain technology is more developed, but its adoption by businesses is still not really widespread, only some private blockchains have been tested on a small scale. In the meantime, crypto has developed strongly and is seen as a new market, a new asset class for investors.
I'm not sure if governments see the value of crypto to the economy, but they have at least recognized that taxes from crypto can help the country develop better. Crypto adoption can also create jobs, attract investment, and get votes from young voters - these are enough to make politicians think seriously about a national crypto strategy.
In the past, many countries banned Bitcoin, but they used Blockchain technology for the benefit of the country. Finally, over time they realized that the existence of Blockchain technology was very helpful, finally over time they accepted several crypto activities starting from trading and investment, then they took advantage by applying tax on income from crypto.
They are indeed smart, but the important thing is that this cryptocurrency can continue to grow rapidly.
-
In the past, many countries banned Bitcoin, but they used Blockchain technology for the benefit of the country. Finally, over time they realized that the existence of Blockchain technology was very helpful, finally over time they accepted several crypto activities starting from trading and investment, then they took advantage by applying tax on income from crypto.
They are indeed smart, but the important thing is that this cryptocurrency can continue to grow rapidly.
The war was actually not against Blockchain Technology but against the product of Blockchain Tech, which is Bitcoin and other cryptocurrencies, asides cryptocurrency, Blockchain Technology has been quite useful in other areas hence the reason why it was embraced.
The reason that the government and other financial authorities war against cryptocurrency was due to its decentralised nature, and the fact that financial authorities has been removed from their hands and placed in the hands of the citizens.
The government are used to being in power over every areas that concerns the country, especially financially, so depriving them of that absolute power wasn't funny at all.
-
Crypto is still illegal here in my country but buying crypto from Binance p2p is easy in many ways. And the money transaction we do is not crypto related because p2p transaction is complete here. so I think it is possible to use and buy and sell crypto even if the government doesn't want it. But it will be very difficult and troublesome. And in this case, if you try to buy a large amount of crypto, you may have to fall under the target of the central bank. And if you fall under the supervision of the Central Bank, we may face trouble. but in by country still we can easily buy sell crypto even crypto is illegal here
-
Crypto is still illegal here in my country but buying crypto from Binance p2p is easy in many ways. And the money transaction we do is not crypto related because p2p transaction is complete here. so I think it is possible to use and buy and sell crypto even if the government doesn't want it. But it will be very difficult and troublesome. And in this case, if you try to buy a large amount of crypto, you may have to fall under the target of the central bank. And if you fall under the supervision of the Central Bank, we may face trouble. but in by country still we can easily buy sell crypto even crypto is illegal here
Each country has its own policies in responding to crypto. Several countries have made it legal for their citizens to invest in crypto. and maybe your country still hasn't legalized crypto. But rest assured your country will soon legalize crypto when big countries have started to open their doors and legalize crypto for investment.
-
In the past, many countries banned Bitcoin, but they used Blockchain technology for the benefit of the country. Finally, over time they realized that the existence of Blockchain technology was very helpful, finally over time they accepted several crypto activities starting from trading and investment, then they took advantage by applying tax on income from crypto.
They are indeed smart, but the important thing is that this cryptocurrency can continue to grow rapidly.
The war was actually not against Blockchain Technology but against the product of Blockchain Tech, which is Bitcoin and other cryptocurrencies, asides cryptocurrency, Blockchain Technology has been quite useful in other areas hence the reason why it was embraced.
The reason that the government and other financial authorities war against cryptocurrency was due to its decentralised nature, and the fact that financial authorities has been removed from their hands and placed in the hands of the citizens.
The government are used to being in power over every areas that concerns the country, especially financially, so depriving them of that absolute power wasn't funny at all.
There is also a reason that is usually stated by the government, namely because decentralized cryptocurrencies are feared as a tool for money laundering and other crimes.
Because this will make it difficult for the relevant departments to trace it and arrest the perpetrators of the crime.
So actually there is some truth in what the government is doing, but the most important thing right now is that we can see the development of crypto in the world growing more rapidly every day.
-
Crypto is still illegal here in my country but buying crypto from Binance p2p is easy in many ways. And the money transaction we do is not crypto related because p2p transaction is complete here. so I think it is possible to use and buy and sell crypto even if the government doesn't want it. But it will be very difficult and troublesome. And in this case, if you try to buy a large amount of crypto, you may have to fall under the target of the central bank. And if you fall under the supervision of the Central Bank, we may face trouble. but in by country still we can easily buy sell crypto even crypto is illegal here
Blockchain is decentralized, meaning that everyone can use blockchain to move crypto without government permission. However, when the government wants to ban crypto, people's crypto investments will face many difficulties and face severe penalties in the worst case. I hope that your government will soon recognize the positive value of crypto for the economy and society as a whole, and thereby accept crypto as an asset that can be freely accessed by everyone, similar to stocks and gold. When that happens, market liquidity will increase and boost crypto development in your country and globally.
-
Each country has its own policies in responding to crypto. Several countries have made it legal for their citizens to invest in crypto. and maybe your country still hasn't legalized crypto. But rest assured your country will soon legalize crypto when big countries have started to open their doors and legalize crypto for investment.
It totally depends on the government of a country whether they want to allow crypto use in their country or not. If they are willing to allow its uses there will be no restriction even if it will be used as a payment method.
There will be a time soon when those countries will accept crypto too who have not understood its positive features yet. In some countries crypto uses are not for the welfare of the individuals therefore others countries are not allowing it to be used in their countries as important features are still hidden for them.
-
It totally depends on the government of a country whether they want to allow crypto use in their country or not. If they are willing to allow its uses there will be no restriction even if it will be used as a payment method.
There will be a time soon when those countries will accept crypto too who have not understood its positive features yet. In some countries crypto uses are not for the welfare of the individuals therefore others countries are not allowing it to be used in their countries as important features are still hidden for them.
We have seen prime examples of the benefits of crypto on a national scale: El Salvador has adopted a BTC strategy, attracting investment capital, tourism inflows, and profiting from buying and self-mining BTC using geothermal energy. Other countries are also collecting taxes from crypto, generating additional revenue to develop their countries. Other govs can also refer to, learn from, and apply these experiences to themselves.
In the near future, if Trump becomes US president, I believe that crypto will become a mainstream market in the US and then globally. Anti-crypto governments will not be able to continue deceiving the public about the nature of crypto, they will face pressure for innovation from their citizens, and will be forced to change if they do not want to be replaced and lose power.
-
In the past, many countries banned Bitcoin, but they used Blockchain technology for the benefit of the country. Finally, over time they realized that the existence of Blockchain technology was very helpful, finally over time they accepted several crypto activities starting from trading and investment, then they took advantage by applying tax on income from crypto.
They are indeed smart, but the important thing is that this cryptocurrency can continue to grow rapidly.
The war was actually not against Blockchain Technology but against the product of Blockchain Tech, which is Bitcoin and other cryptocurrencies, asides cryptocurrency, Blockchain Technology has been quite useful in other areas hence the reason why it was embraced.
The reason that the government and other financial authorities war against cryptocurrency was due to its decentralised nature, and the fact that financial authorities has been removed from their hands and placed in the hands of the citizens.
The government are used to being in power over every areas that concerns the country, especially financially, so depriving them of that absolute power wasn't funny at all.
There is also a reason that is usually stated by the government, namely because decentralized cryptocurrencies are feared as a tool for money laundering and other crimes.
Because this will make it difficult for the relevant departments to trace it and arrest the perpetrators of the crime.
So actually there is some truth in what the government is doing, but the most important thing right now is that we can see the development of crypto in the world growing more rapidly every day.
Money laundering or terrorist activities have been existed before and still now. No government has been able to stop this type of crime even with fiat currency and it is not possible to do so. But while the crypto space is booming, some governments want to restrict the use of crypto due to this issue. However, if we consider the positive and negative sites of crypto use and discuss its positive aspects, then cryptocurrency will definitely gain acceptance in all areas. Although some countries support Bitcoin, most countries still view crypto negatively. But despite their continued negative outlook, they could not hold crypto. Despite all this, crypto has held its position.
-
It totally depends on the government of a country whether they want to allow crypto use in their country or not. If they are willing to allow its uses there will be no restriction even if it will be used as a payment method.
There will be a time soon when those countries will accept crypto too who have not understood its positive features yet. In some countries crypto uses are not for the welfare of the individuals therefore others countries are not allowing it to be used in their countries as important features are still hidden for them.
I think the “problem” that governments have with cryptocurrencies is not in terms of allowing their use or applying restrictions. It is possible that the problem that governments have is the control they can exercise over citizens who use cryptocurrencies. If some government allows the use of cryptocurrencies with very high taxes, it is likely that no one will use their cryptocurrencies to buy in stores, for example, but if controls are not imposed, that country's AML problems are likely to increase. There should be a point that benefits both parties, but we can call that utopia, since neither of those two parties is satisfied.
-
Money laundering or terrorist activities have been existed before and still now. No government has been able to stop this type of crime even with fiat currency and it is not possible to do so. But while the crypto space is booming, some governments want to restrict the use of crypto due to this issue. However, if we consider the positive and negative sites of crypto use and discuss its positive aspects, then cryptocurrency will definitely gain acceptance in all areas. Although some countries support Bitcoin, most countries still view crypto negatively. But despite their continued negative outlook, they could not hold crypto. Despite all this, crypto has held its position.
It is very true, we must see things from the correct point of view, crimes are always carried out with any type of tool, now since they have crypto they say that the fault of all crimes is because of crypto, no, that is a way to intimidate people who have crypto, it's like KYC, they tried to sell it to people thinking that was the best thing they could do, anything to avoid fraud, and yet with everything and KYC there are still scams, and not even Talking about what they can do with fiat money, that is already over, so it is something for which there is no longer any excuse.
-
When a country bans crypto, black markets for it inevitably pop up. The opportunity for profit is just too good to pass on when you could become one of the few players in the country offering crypto brokerage for the public.
These tend to disappear the more accessible crypto becomes in that country via legal services, however.
-
Each country has its own policies in responding to crypto. Several countries have made it legal for their citizens to invest in crypto. and maybe your country still hasn't legalized crypto. But rest assured your country will soon legalize crypto when big countries have started to open their doors and legalize crypto for investment.
You are right, in the near future every single country will prefer to adopt it, either due to the huge adoption by other tier-one countries or to tackle the inflation just like El Salvador did. But what I think is, the smarter one is that, which will accept it in bear run, as if a country is legalizing crypto in bull run and buying BTC in bull run just like El Salvador did as they bought high and waited a long time till this halving to cover there losses.
As governments don't suffer a lot, as they invest for longer period fo times so if they have to bear loss for 2 to 3 years they can, but when other citizens also invest in BTC just because there government did, they are not able to bear loss for 2 to 3 years, as they are not prepared for it due to lack of knowledge. So its not necessary that with other countries yours will also accept it, even if it did then they should not lack the knowledge.
-
When a country bans crypto, black markets for it inevitably pop up. The opportunity for profit is just too good to pass on when you could become one of the few players in the country offering crypto brokerage for the public.
These tend to disappear the more accessible crypto becomes in that country via legal services, however.
There will always be opportunities like you said wherever they are implemented, because these opportunities can be, done and cannot be avoided through mechanisms that might be implemented, because of their ability to do so without permission.
But as good citizens, it is not appropriate for us to violate the rules that have been made because it will always be risky, and it is not a good thing to do, even if we can.
However, currently more and more countries are able to provide convenience even though they do not recognize but are allowed to trade, thus avoiding the intention of violating the rules.
-
When a country bans crypto, black markets for it inevitably pop up. The opportunity for profit is just too good to pass on when you could become one of the few players in the country offering crypto brokerage for the public.
These tend to disappear the more accessible crypto becomes in that country via legal services, however.
There will always be opportunities like you said wherever they are implemented, because these opportunities can be, done and cannot be avoided through mechanisms that might be implemented, because of their ability to do so without permission.
But as good citizens, it is not appropriate for us to violate the rules that have been made because it will always be risky, and it is not a good thing to do, even if we can.
However, currently more and more countries are able to provide convenience even though they do not recognize but are allowed to trade, thus avoiding the intention of violating the rules.
Yes, as good citizens we must always follow the rules, because if we break them and are caught we will be punished. If our country prohibits it, we should not go against this rule.
-
There will always be opportunities like you said wherever they are implemented, because these opportunities can be, done and cannot be avoided through mechanisms that might be implemented, because of their ability to do so without permission.
But as good citizens, it is not appropriate for us to violate the rules that have been made because it will always be risky, and it is not a good thing to do, even if we can.
However, currently more and more countries are able to provide convenience even though they do not recognize but are allowed to trade, thus avoiding the intention of violating the rules.
Since one of my local board has posted here, I want to say that it is true that as a good citizen should obey the laws of the country. But in a report I saw that around 4 million people are connected to crypto in our country which is 25% of our population. Now my point is that if our country does not legalize this crypto then what do we have to do. Our current ICT minister also invited the officials of our central bank to discuss about legalizing this cryptocurrency, but no positive response was given from our central bank officials. So I think the citizens of our country have no choice but to break the rules.
-
There will always be opportunities like you said wherever they are implemented, because these opportunities can be, done and cannot be avoided through mechanisms that might be implemented, because of their ability to do so without permission.
But as good citizens, it is not appropriate for us to violate the rules that have been made because it will always be risky, and it is not a good thing to do, even if we can.
However, currently more and more countries are able to provide convenience even though they do not recognize but are allowed to trade, thus avoiding the intention of violating the rules.
Since one of my local board has posted here, I want to say that it is true that as a good citizen should obey the laws of the country. But in a report I saw that around 4 million people are connected to crypto in our country which is 25% of our population. Now my point is that if our country does not legalize this crypto then what do we have to do. Our current ICT minister also invited the officials of our central bank to discuss about legalizing this cryptocurrency, but no positive response was given from our central bank officials. So I think the citizens of our country have no choice but to break the rules.
If countries don't ban and imprison people who invest in crypto, I think we're still safe. We can also use VPN to carry out transactions in crypto. In our country crypto is legal for investment, so there is no problem in my country.
-
There will always be opportunities like you said wherever they are implemented, because these opportunities can be, done and cannot be avoided through mechanisms that might be implemented, because of their ability to do so without permission.
But as good citizens, it is not appropriate for us to violate the rules that have been made because it will always be risky, and it is not a good thing to do, even if we can.
However, currently more and more countries are able to provide convenience even though they do not recognize but are allowed to trade, thus avoiding the intention of violating the rules.
Since one of my local board has posted here, I want to say that it is true that as a good citizen should obey the laws of the country. But in a report I saw that around 4 million people are connected to crypto in our country which is 25% of our population. Now my point is that if our country does not legalize this crypto then what do we have to do. Our current ICT minister also invited the officials of our central bank to discuss about legalizing this cryptocurrency, but no positive response was given from our central bank officials. So I think the citizens of our country have no choice but to break the rules.
If countries don't ban and imprison people who invest in crypto, I think we're still safe. We can also use VPN to carry out transactions in crypto. In our country crypto is legal for investment, so there is no problem in my country.
With technological developments, every country and its citizens will certainly follow every development, including crypto. Of course, if it is legal in a country, it will no longer be difficult for its citizens to do anything with crypto. But if there is a ban, it is certain that there will be people who will try to do it illegally and, in technology, it can be done and there are many ways. But breaking the rules is certainly not good, because it will be dangerous for him, even though he has the opportunity to make transactions.
-
With technological developments, every country and its citizens will certainly follow every development, including crypto. Of course, if it is legal in a country, it will no longer be difficult for its citizens to do anything with crypto. But if there is a ban, it is certain that there will be people who will try to do it illegally and, in technology, it can be done and there are many ways. But breaking the rules is certainly not good, because it will be dangerous for him, even though he has the opportunity to make transactions.
You're right that breaking the law isn't a good thing, but just like you said, there'll always be people who will break those laws, so if you're going to be a law breaker, then it shouldn't be laws that infringes on another citizen's fundamental rights or that'll cause harm to you, other citizens or the society at large.
Most governments places a ban on crypto because they're scared of the height crypto might attain in the future and then try to contain it, so those laws are mostly for their personal and selfish reasons and nothing more, so breaking such crypto laws to me isnt really an actual crime.
-
With technological developments, every country and its citizens will certainly follow every development, including crypto. Of course, if it is legal in a country, it will no longer be difficult for its citizens to do anything with crypto. But if there is a ban, it is certain that there will be people who will try to do it illegally and, in technology, it can be done and there are many ways. But breaking the rules is certainly not good, because it will be dangerous for him, even though he has the opportunity to make transactions.
Yeah, governments have also been studying blockchain and may be able to find the identities of those who deliberately commit crimes to trade crypto. I don't think the government can find all those who trade crypto illegally, but just a few cases of severe punishment can also have a negative impact on the demand for exposure to and investment in crypto in that country.
I do not encourage investors to disregard their own safety to reach crypto. We are not trying to fight against governments, we just want crypto to be accepted in the economy as an asset for investment purposes. After all, the government is elected by the people, so the best way is to raise public awareness of crypto over time so that they can choose a crypto-friendly government like what the US people are doing.
-
You're right that breaking the law isn't a good thing, but just like you said, there'll always be people who will break those laws, so if you're going to be a law breaker, then it shouldn't be laws that infringes on another citizen's fundamental rights or that'll cause harm to you, other citizens or the society at large.
Most governments places a ban on crypto because they're scared of the height crypto might attain in the future and then try to contain it, so those laws are mostly for their personal and selfish reasons and nothing more, so breaking such crypto laws to me isnt really an actual crime.
I thought laws are meant to be broken isn't? ;D Even with the government supervision, there are high numbers of people that are committing fraud and scam investments, some are doing money laundering and many of them are using crypto to avoid tax, we have them but despite all this, the government can't control it because of the anonymity that crypto thieves gives people.
It's because of the privacy people has from crypto market that is making them regulate crypto but the number of people that are doing bad things in crypto aren't more than 1%, they are just a fraction of them and is the more reason why they need to let crypto be as it should be, no regulations.
-
When a country bans crypto, black markets for it inevitably pop up. The opportunity for profit is just too good to pass on when you could become one of the few players in the country offering crypto brokerage for the public.
These tend to disappear the more accessible crypto becomes in that country via legal services, however.
There will always be opportunities like you said wherever they are implemented, because these opportunities can be, done and cannot be avoided through mechanisms that might be implemented, because of their ability to do so without permission.
But as good citizens, it is not appropriate for us to violate the rules that have been made because it will always be risky, and it is not a good thing to do, even if we can.
However, currently more and more countries are able to provide convenience even though they do not recognize but are allowed to trade, thus avoiding the intention of violating the rules.
Yes, as good citizens we must always follow the rules, because if we break them and are caught we will be punished. If our country prohibits it, we should not go against this rule.
Agree, clearly, as citizens who follow the rules that have been made by the government, you should follow the recommendations or rules that have been made and not try to get around or try to break those rules, because it is clearly not a good thing to do. Apart from having to deal with the law, and it is not impossible that it will make your life difficult because you have violated the rules, it is not recommended to do this even if you can and can do it.
-
There will always be opportunities like you said wherever they are implemented, because these opportunities can be, done and cannot be avoided through mechanisms that might be implemented, because of their ability to do so without permission.
But as good citizens, it is not appropriate for us to violate the rules that have been made because it will always be risky, and it is not a good thing to do, even if we can.
However, currently more and more countries are able to provide convenience even though they do not recognize but are allowed to trade, thus avoiding the intention of violating the rules.
Since one of my local board has posted here, I want to say that it is true that as a good citizen should obey the laws of the country. But in a report I saw that around 4 million people are connected to crypto in our country which is 25% of our population. Now my point is that if our country does not legalize this crypto then what do we have to do. Our current ICT minister also invited the officials of our central bank to discuss about legalizing this cryptocurrency, but no positive response was given from our central bank officials. So I think the citizens of our country have no choice but to break the rules.
If countries don't ban and imprison people who invest in crypto, I think we're still safe. We can also use VPN to carry out transactions in crypto. In our country crypto is legal for investment, so there is no problem in my country.
Digital currencies like Bitcoin are very easy to spread, lots of news is already talking about Bitcoin. Indirectly, this makes people want to find out what Bitcoin is. It is true that several countries have banned the use of Bitcoin and even closed access to certain exchanges. But all that doesn't make internet users just stay silent, many people already understand VPNs like you said. May I know your country? because several large countries no longer have access to exchanges like Binance.
-
Crypto market keep existing have government permission or not recently many time some top countries from China and United State announced against for suspending bitcoin but keep bitcoin on the higher price. I think government permission will make bitcoin and some cryptocurrencies get more support but if not get permission we can still trade, sell and converting cryptocurrency assets to be cash trough third party way.
Talking about government permission, we have got news after Donald Trump as United State president candidate will support and make cryptocurrency become legal in their country.
-
Talking about government permission, we have got news after Donald Trump as United State president candidate will support and make cryptocurrency become legal in their country.
Trump (like any other candidate) would say anything to win the election to the White House. Its intention is to attract the vote of all possible niches. The simple question is: why didn't Trump do that during his White House presidency from 2017 to 2021?. Why didn't Trump pardon Ross Ulbricht during his previous presidency?. The answers are also simple: opportunism, votes, reaching niches where Trump could not reach in the previous elections... The best (or worst) thing about all this is that Trump will possibly get votes by making those promises. In a few months we will know if Trump's strategy has been well planned.
-
Talking about government permission, we have got news after Donald Trump as United State president candidate will support and make cryptocurrency become legal in their country.
I heard Robert was the first candidate to support cryptocurrency in his campaign but Donald Trump been a lousy candidate make it seems like he was the one that want it for the people and investors but I see that as just a mere talk, he never supported Bitcoin from day one when he was in the office and he wouldn't change his mind when he needs a way to back to that office.
It's high time people don't take Politicians seriously, they don't care about crypto because they think it's a competition with their shares and bond and it will make investors run away from the traditional market.
-
Crypto market keep existing have government permission or not recently many time some top countries from China and United State announced against for suspending bitcoin but keep bitcoin on the higher price. I think government permission will make bitcoin and some cryptocurrencies get more support but if not get permission we can still trade, sell and converting cryptocurrency assets to be cash trough third party way.
Talking about government permission, we have got news after Donald Trump as United State president candidate will support and make cryptocurrency become legal in their country.
When it first started then pretty sure that government wasnt really that putting up that much attention into its existence, but at the moment that its surpporters or the community
becomes that bigger then this is where they would really be starting up to make some involvement on which they would really be that trying out to surpress it out when it comes to
recognition and adoption but there's no way that it could be stopped now. This is why theyw ould really be thriving as much as they could on surpressing or even trying
to stop but there's no way that it could happen.
-
With technological developments, every country and its citizens will certainly follow every development, including crypto. Of course, if it is legal in a country, it will no longer be difficult for its citizens to do anything with crypto. But if there is a ban, it is certain that there will be people who will try to do it illegally and, in technology, it can be done and there are many ways. But breaking the rules is certainly not good, because it will be dangerous for him, even though he has the opportunity to make transactions.
Yeah, governments have also been studying blockchain and may be able to find the identities of those who deliberately commit crimes to trade crypto. I don't think the government can find all those who trade crypto illegally, but just a few cases of severe punishment can also have a negative impact on the demand for exposure to and investment in crypto in that country.
I do not encourage investors to disregard their own safety to reach crypto. We are not trying to fight against governments, we just want crypto to be accepted in the economy as an asset for investment purposes. After all, the government is elected by the people, so the best way is to raise public awareness of crypto over time so that they can choose a crypto-friendly government like what the US people are doing.
Government have Blockchain and cryptocurrency gurus (experts) in the ICT ministry and they know how cryptocurrency work and theta is why they are skeptical about the whole stuff if not those guys would have destroyed everything but it is very hard for them to do that so all what they can do now is to support the community to develop their economy and countries. And when a government support or give a permission to use cryptocurrency in the country, it increases the price of Bitcoin. Like as Donald Trump is supporting Bitcoin in his campaign and using bitcoin to funds the campaign and finally he becomes the president of America and he approves bitcoin to be used fully in America then bitcoin will skyrocket to the highest climax.
-
Government have Blockchain and cryptocurrency gurus (experts) in the ICT ministry and they know how cryptocurrency work and theta is why they are skeptical about the whole stuff if not those guys would have destroyed everything but it is very hard for them to do that so all what they can do now is to support the community to develop their economy and countries. And when a government support or give a permission to use cryptocurrency in the country, it increases the price of Bitcoin. Like as Donald Trump is supporting Bitcoin in his campaign and using bitcoin to funds the campaign and finally he becomes the president of America and he approves bitcoin to be used fully in America then bitcoin will skyrocket to the highest climax.
We are in the crypto market, we see the potential and opportunities from crypto so we support crypto. However, for the government, crypto has more risks than opportunities so they are extremely cautious and often choose the safest way is to refuse this opportunity. I don't think we should hope too much for a change in the mindset of the older people in the government, younger people who are more internet and currency savvy may be more approachable and accepting of crypto.
Trump is running a smart campaign by maximizing the popularity of BTC and crypto in the US. I really hope that Trump will win and create conditions for crypto to develop strongly. The success of crypto in the US could be the impetus for many other governments to change their conservative views.
-
Government have Blockchain and cryptocurrency gurus (experts) in the ICT ministry and they know how cryptocurrency work and theta is why they are skeptical about the whole stuff if not those guys would have destroyed everything but it is very hard for them to do that so all what they can do now is to support the community to develop their economy and countries. And when a government support or give a permission to use cryptocurrency in the country, it increases the price of Bitcoin. Like as Donald Trump is supporting Bitcoin in his campaign and using bitcoin to funds the campaign and finally he becomes the president of America and he approves bitcoin to be used fully in America then bitcoin will skyrocket to the highest climax.
if the government supports bitcoin, it will make the price of bitcoin even more expensive and of course more popular. But it seems like governments in several countries are still studying crypto technology.
about donald trump, i don't really care about it because that's how politicians are during the campaign. He will issue a statement supporting crypto to attract votes from crypto fans.
-
- It may be possible for the crypto market to exist without the permission of the government, so the only cons that I see are that if the government notices that,
for sure it will be taken down immediately. And when that happens, it's not good. But not all feudal countries do that.
Because there are only a few countries that have banned cryptocurrency or Bitcoin, if there are others that have banned it, they have also withdrawn it because they may have seen from a different angle that Bitcoin or blockchain technology that it brings can help the country and those people.
-
- It may be possible for the crypto market to exist without the permission of the government, so the only cons that I see are that if the government notices that,
for sure it will be taken down immediately. And when that happens, it's not good. But not all feudal countries do that.
Because there are only a few countries that have banned cryptocurrency or Bitcoin, if there are others that have banned it, they have also withdrawn it because they may have seen from a different angle that Bitcoin or blockchain technology that it brings can help the country and those people.
I believe that in some countries that are not crypto-friendly, the government is aware that citizens are still quietly owning and trading crypto through P2P, but it is also difficult for them to charge or arrest all participants. The number of crypto investors is too large for the government to have enough tools to handle all violations. Sometimes a few typical cases are used to warn the majority but also do not have a big enough result, it only makes people want to access crypto more because they cannot accept the government's incompetence in running country and developing economy.
The positive thing is that we are seeing crypto being accepted in more countries, the number of countries banning crypto is not too many and I believe that in the future they will change their views on crypto, or young people who love crypto will replace them in government.
-
- It may be possible for the crypto market to exist without the permission of the government, so the only cons that I see are that if the government notices that,
for sure it will be taken down immediately. And when that happens, it's not good. But not all feudal countries do that.
Because there are only a few countries that have banned cryptocurrency or Bitcoin, if there are others that have banned it, they have also withdrawn it because they may have seen from a different angle that Bitcoin or blockchain technology that it brings can help the country and those people.
It is true that the crypto market can be done without government permission, but it will be called an illegal market. As a good cryptocurrency trader, we must avoid trading in this market, even though maybe there we will get bigger profits.
Because actually it is dangerous, if suddenly the market is closed by the government while our assets are in that market. Of course we will lose and we can't complain anywhere.
-
It is true that the crypto market can be done without government permission, but it will be called an illegal market. As a good cryptocurrency trader, we must avoid trading in this market, even though maybe there we will get bigger profits.
Because actually it is dangerous, if suddenly the market is closed by the government while our assets are in that market. Of course we will lose and we can't complain anywhere.
Currently, in many countries, crypto is still an unregulated asset, meaning that investors have the right to trade and own crypto, without having to pay taxes on crypto profits but also not being protected in case of being scammed in the crypto market. This is quite common and many experienced investors prefer it so they can enjoy the full profits from their work.
In the worst case, if the government officially bans crypto and stipulates that any act of crypto trading is considered illegal, then everything will be very bad. Crypto will only exist in the dark, people will have more difficulty trading crypto and liquidity will definitely decrease. This is also happening in a few countries but I don't think we should be satisfied with it. Crypto should be allowed to exist legally in the economy as a formal market, similar to goods!
-
It is true that the crypto market can be done without government permission, but it will be called an illegal market. As a good cryptocurrency trader, we must avoid trading in this market, even though maybe there we will get bigger profits.
Because actually it is dangerous, if suddenly the market is closed by the government while our assets are in that market. Of course we will lose and we can't complain anywhere.
Currently, in many countries, crypto is still an unregulated asset, meaning that investors have the right to trade and own crypto, without having to pay taxes on crypto profits but also not being protected in case of being scammed in the crypto market. This is quite common and many experienced investors prefer it so they can enjoy the full profits from their work.
In the worst case, if the government officially bans crypto and stipulates that any act of crypto trading is considered illegal, then everything will be very bad. Crypto will only exist in the dark, people will have more difficulty trading crypto and liquidity will definitely decrease. This is also happening in a few countries but I don't think we should be satisfied with it. Crypto should be allowed to exist legally in the economy as a formal market, similar to goods!
If the government prohibits its citizens from investing and trading in crypto, of course this will have a bad effect on crypto. It is possible that crypto prices will plummet because this is part of negative news. Until now, some still let their citizens invest in crypto even though they don't legalize it.
-
If the government prohibits its citizens from investing and trading in crypto, of course this will have a bad effect on crypto. It is possible that crypto prices will plummet because this is part of negative news. Until now, some still let their citizens invest in crypto even though they don't legalize it.
In those countries where there is no permission of using crypto will have no effects on the value of crypto but those who are already using crypto for investment will be worried if the countries banned the use of crypto and the value will gradually deteriorate. I don't think that those countries will ever ban the use of crypto who knows the value of crypto so there will be an increase in its value as more people are going to accept it and it will be good news.
Time will be needed but crypto will become acceptable all over the world because a successful platform cannot be denied by everyone for a longer time so remember that there will be an increasing value for crypto as we see the time passing.
-
In those countries where there is no permission of using crypto will have no effects on the value of crypto but those who are already using crypto for investment will be worried if the countries banned the use of crypto and the value will gradually deteriorate. I don't think that those countries will ever ban the use of crypto who knows the value of crypto so there will be an increase in its value as more people are going to accept it and it will be good news.
Time will be needed but crypto will become acceptable all over the world because a successful platform cannot be denied by everyone for a longer time so remember that there will be an increasing value for crypto as we see the time passing.
The success of El Salvador after adopting BTC, or the legal development of crypto in the US after BTC & ETH Spot ETF being approved is having positive impacts on the status and future of crypto on global scale. The number of countries banning crypto is very few, some countries have accepted crypto as an asset and the majority of countries are still silent and waiting for more data to be able to make the most appropriate decision for crypto policy.
I believe that we are in a positive phase for the development of crypto. Optimism and patience should be directed, not worry or fear. China used to be a threat to crypto but China has also banned crypto, currently China no longer has any tools to negatively impact crypto anymore, even I am waiting for the approval of crypto from the Chinese government ^^
-
Cryptocurrencies are not legal in many countries, but crypto markets or exchanges still exist and are being exploited at will without government permission. But it is true that not everything is running smoothly or the individual is independent. So following the premise of confidential transactions they are using crypto currency. Moreover choosing P2P has its risks and one should be careful. But maybe in the future crypto will be accepted in all countries so now you have to keep the exchange confidential.
-
This hatred for government (no matter how right you might feel) is unrealistic because you aren't really changing anything. I mean you can vote the people you do not like out and elect new people if you can, but of course only if you are big enough in numbers, aside from that you just have to accept. I am not quite happy with my government neither, and yet I accept it and live my life accordingly. Constantly blaming and complaining and whining doesn't get you anywhere, like it or hate it, you have to move on with your life and do something with it. Otherwise, what is even the point of it?
-
This hatred for government (no matter how right you might feel) is unrealistic because you aren't really changing anything. I mean you can vote the people you do not like out and elect new people if you can, but of course only if you are big enough in numbers, aside from that you just have to accept. I am not quite happy with my government neither, and yet I accept it and live my life accordingly. Constantly blaming and complaining and whining doesn't get you anywhere, like it or hate it, you have to move on with your life and do something with it. Otherwise, what is even the point of it?
Maybe there are many policies and regulations from the government that disappoint us, but we have to accept them. because that's the rule, whether we like it or not, we have to follow the government's rules. Maybe there are those who allow crypto, there are also those who block crypto.
-
Unfortunately after the government banned CBN from facilitating on crypto currency transactions they still returned back and placed the ban again.
Graciously this banking interrelated with cryptocurrencies transactions has no transforms potentials to add values to crypto currencies and even the crypto adoptors doesn't give a damn of the banks not fascinating on cryptocurrencies because there had been P2P means of transactions.
Even though they places crypto currencies and illegal there will always be means to gain prospects in the crypto industries in as much the government does not provide networking interfaces for Crypto accessibilities.
-
- It may be possible for the crypto market to exist without the permission of the government, so the only cons that I see are that if the government notices that,
for sure it will be taken down immediately. And when that happens, it's not good. But not all feudal countries do that.
Because there are only a few countries that have banned cryptocurrency or Bitcoin, if there are others that have banned it, they have also withdrawn it because they may have seen from a different angle that Bitcoin or blockchain technology that it brings can help the country and those people.
It is true that the crypto market can be done without government permission, but it will be called an illegal market. As a good cryptocurrency trader, we must avoid trading in this market, even though maybe there we will get bigger profits.
Because actually it is dangerous, if suddenly the market is closed by the government while our assets are in that market. Of course we will lose and we can't complain anywhere.
Cryptocurrencies are still not legal in many countries that means i can say not approved by the government. But cryptocurrency is being used in those countries without any problem. Users are using crypto even though governments don't give permission there and the number of these users is increasing gradually. I don't think governments can stop it. But if the governments are behind it then some people can surf there but the government will never find the all users. Moreover some governments are trying how this crypto can be profitable for their country. Since it cannot be stopped, some governments are looking for ways to profit from it by legalizing it.
-
Unfortunately after the government banned CBN from facilitating on crypto currency transactions they still returned back and placed the ban again.
Graciously this banking interrelated with cryptocurrencies transactions has no transforms potentials to add values to crypto currencies and even the crypto adoptors doesn't give a damn of the banks not fascinating on cryptocurrencies because there had been P2P means of transactions.
Even though they places crypto currencies and illegal there will always be means to gain prospects in the crypto industries in as much the government does not provide networking interfaces for Crypto accessibilities.
To my greatest knowledge government banning people from trading crypto currency was the major raise to p2p transaction and increased the way nigerians trades on cryptocurrency, as of early 2019 they were so scare to use direct bank deposit but the p2p trade made it looks so unique and off from the trace of government.
-
This hatred for government (no matter how right you might feel) is unrealistic because you aren't really changing anything. I mean you can vote the people you do not like out and elect new people if you can, but of course only if you are big enough in numbers, aside from that you just have to accept. I am not quite happy with my government neither, and yet I accept it and live my life accordingly. Constantly blaming and complaining and whining doesn't get you anywhere, like it or hate it, you have to move on with your life and do something with it. Otherwise, what is even the point of it?
Maybe there are many policies and regulations from the government that disappoint us, but we have to accept them. because that's the rule, whether we like it or not, we have to follow the government's rules. Maybe there are those who allow crypto, there are also those who block crypto.
Yeah, I think it's already 2024 and for sure in the last 7 years, or at least when I joined crypto world in 2017, there's not much of a regulation. But as soon as Bitcoin or crypto becoming well known, there are a lot of regulatory bodies and financial watchdogs that keep an eye on it and so they implemented a lot of regulations.
So today, we have to accept that fact, we can no longer be as a (pseudo) anonymous as we wanted to be, because there is KYC for AML and every one could have been tracked by our government.
-
To my greatest knowledge government banning people from trading crypto currency was the major raise to p2p transaction and increased the way nigerians trades on cryptocurrency, as of early 2019 they were so scare to use direct bank deposit but the p2p trade made it looks so unique and off from the trace of government.
P2P gave people a quick way to fund their crypto wallet and that is what many people still practise now, they don't make use of withdrawals directly with banks as it may even take days for some to reflects in their accounts. The likes of lightening banks like Zelle and Cash app even made it smooth to transact p2p in many western countries but there is high rate of scammers that exist there as well. One need to be careful and follow p2p guidelines to avoid falling into p2p scams.
-
~
Cryptocurrencies are still not legal in many countries that means i can say not approved by the government. But cryptocurrency is being used in those countries without any problem. Users are using crypto even though governments don't give permission there and the number of these users is increasing gradually. I don't think governments can stop it. But if the governments are behind it then some people can surf there but the government will never find the all users. Moreover some governments are trying how this crypto can be profitable for their country. Since it cannot be stopped, some governments are looking for ways to profit from it by legalizing it.
The ease of making money in Cryptocurreny will make people who enter Cryptocurreny continue to increase, and the Government will not be able to control it. Even if they forbid it, there will always be a way to get in.
It would be better for this government to legalize cryptocurrencies, even if they apply income tax later, it doesn't matter, because it will make people more confident and calm about being here.
-
To my greatest knowledge government banning people from trading crypto currency was the major raise to p2p transaction and increased the way nigerians trades on cryptocurrency, as of early 2019 they were so scare to use direct bank deposit but the p2p trade made it looks so unique and off from the trace of government.
P2P gave people a quick way to fund their crypto wallet and that is what many people still practise now, they don't make use of withdrawals directly with banks as it may even take days for some to reflects in their accounts. The likes of lightening banks like Zelle and Cash app even made it smooth to transact p2p in many western countries but there is high rate of scammers that exist there as well. One need to be careful and follow p2p guidelines to avoid falling into p2p scams.
I have never used this service to trade cryptocurrency and sell to my local account directly, and again p2p services made it so hard for government to track every transaction that is associated with cryptocurrencies does this means that taxation is no longer possible? Since they can't understand how the transactions are being carried between exchanges to banks because i understand that they can only tax when it coming from exchange to bank directly.
-
Before now and till this present time we are talking, crypto market has been existing and never exist to depend on the government role for any of it achievements, but instead, the government are the ones being a direct beneficiaries of what they offer on them and to the people in the society, if it were to be by government wish and desires, there couldn't have been anything like crypto existing till now.
-
Before now and till this present time we are talking, crypto market has been existing and never exist to depend on the government role for any of it achievements, but instead, the government are the ones being a direct beneficiaries of what they offer on them and to the people in the society, if it were to be by government wish and desires, there couldn't have been anything like crypto existing till now.
Yeah, exactly the point, if the government had their way, I personally believe that by now, crypto would have been a bygone innovation.
It is actually impossible to many of us to imagine correctly; the kind of fight, things the government have done, both in the open and in the secret, simply to get people to take their minds off crypto, but unfortunately, crypto continues to scales, more and more people continue to adopt it.
Crypto is here to stay, and it doesn't matter what the government does, they have tried all they can and many of them are currently out of ideas,, and none have worked, and right now, they have no choice but to embrace crypto, or forever be left behind.
-
Before now and till this present time we are talking, crypto market has been existing and never exist to depend on the government role for any of it achievements, but instead, the government are the ones being a direct beneficiaries of what they offer on them and to the people in the society, if it were to be by government wish and desires, there couldn't have been anything like crypto existing till now.
Yeah, exactly the point, if the government had their way, I personally believe that by now, crypto would have been a bygone innovation.
It is actually impossible to many of us to imagine correctly; the kind of fight, things the government have done, both in the open and in the secret, simply to get people to take their minds off crypto, but unfortunately, crypto continues to scales, more and more people continue to adopt it.
Crypto is here to stay, and it doesn't matter what the government does, they have tried all they can and many of them are currently out of ideas,, and none have worked, and right now, they have no choice but to embrace crypto, or forever be left behind.
We are in the paradigm shift from fiat to BTC and for most people it is difficult to accept it, Most of these people are a representation of what the government is doing right now but don't worry, money naturally moves to the best store of value, and Bitcoin is the safest asset and is the best store of value, they will soon be able to see it, and they will no longer be able to ignore it.
-
Before now and till this present time we are talking, crypto market has been existing and never exist to depend on the government role for any of it achievements, but instead, the government are the ones being a direct beneficiaries of what they offer on them and to the people in the society, if it were to be by government wish and desires, there couldn't have been anything like crypto existing till now.
Yeah, exactly the point, if the government had their way, I personally believe that by now, crypto would have been a bygone innovation.
It is actually impossible to many of us to imagine correctly; the kind of fight, things the government have done, both in the open and in the secret, simply to get people to take their minds off crypto, but unfortunately, crypto continues to scales, more and more people continue to adopt it.
Crypto is here to stay, and it doesn't matter what the government does, they have tried all they can and many of them are currently out of ideas,, and none have worked, and right now, they have no choice but to embrace crypto, or forever be left behind.
Governments have tried to restrict crypto but they have failed as they are convinced that they cannot regulate it after that they plan to think positively about it. However, the governments have been giving restrictions in various ways so that the general public cannot be encouraged towards crypto. If crypto runs at its own pace without government support or permission then we can say that the crypto market can exit without government support.
-
Before now and till this present time we are talking, crypto market has been existing and never exist to depend on the government role for any of it achievements, but instead, the government are the ones being a direct beneficiaries of what they offer on them and to the people in the society, if it were to be by government wish and desires, there couldn't have been anything like crypto existing till now.
Yes we know that crypto industry existing without following Government role. But recently us government and some others government following government rules. Government monitoring by EFT transection. But i think no any government control it fully. Because most currency are decentralised so it will be impossible to control.
Crypto markets can exist without government permission i strongly believe it.
-
Crypto markets can exist without government permission i strongly believe it.
No no no... the fact is that the government plays a big role in this matter... even though it cannot interfere in the cryptocurrency system, the government can easily lead public opinion away from or towards cryptocurrency... we can all comply with the government regarding regulations cryptocurrency, people's fear of the government still exists... and that is what the government uses to regulate society through coercion that can be said to be excessive.
It seems to me that governments will still gain the power to regulate cryptocurrencies in their own way.
-
Crypto markets can exist without government permission i strongly believe it.
No no no... the fact is that the government plays a big role in this matter... even though it cannot interfere in the cryptocurrency system, the government can easily lead public opinion away from or towards cryptocurrency... we can all comply with the government regarding regulations cryptocurrency, people's fear of the government still exists... and that is what the government uses to regulate society through coercion that can be said to be excessive.
It seems to me that governments will still gain the power to regulate cryptocurrencies in their own way.
That's right, every government has such power, they can influence their people to interfere a little with Cryptocurrency. But so far I have only seen a few countries that have governments to provide support for Cryptocurrencies. There are still many who prefer to be Neutral and do not provide full support for Cryptocurrencies.
-
No no no... the fact is that the government plays a big role in this matter... even though it cannot interfere in the cryptocurrency system, the government can easily lead public opinion away from or towards cryptocurrency... we can all comply with the government regarding regulations cryptocurrency, people's fear of the government still exists... and that is what the government uses to regulate society through coercion that can be said to be excessive.
It seems to me that governments will still gain the power to regulate cryptocurrencies in their own way.
Crypto is not just about price but also about innovation, efficiency, and transparency.
Look at the bigger picture, to speed up the mass adoption of crypto, we need governments because clear regulations on crypto are the main key to making crypto mainstream.
Crypto players, traders, and stakeholders must meet with regulators and collaborate to create better conditions.
Too many crypto projects scam the community and are not punished because of weak regulations regarding crypto.
-
Crypto is not just about price but also about innovation, efficiency, and transparency.
Look at the bigger picture, to speed up the mass adoption of crypto, we need governments because clear regulations on crypto are the main key to making crypto mainstream.
Crypto players, traders, and stakeholders must meet with regulators and collaborate to create better conditions.
Too many crypto projects scam the community and are not punished because of weak regulations regarding crypto.
Yeah, I believe that we are still in the early stages of the crypto market: seeking the existence and widespread acceptance of crypto in the economy or at least in the investment field. The existence of many scam projects is normal, just like many weak projects that developed in the dotcom bubble, they have disappeared and only the best projects continue to exist. I believe the same will be true for crypto!
When good projects are accepted and operate everywhere, bringing a lot of value to users and businesses, and contributing a large amount of tax, crypto will certainly be welcomed by governments. At this point, we have not seen the application of blockchain outside the financial market, we need more efforts to convince the government to issue a legal framework for this market, which is a necessary condition for teams to know how to comply and develop their projects.
-
No no no... the fact is that the government plays a big role in this matter... even though it cannot interfere in the cryptocurrency system, the government can easily lead public opinion away from or towards cryptocurrency... we can all comply with the government regarding regulations cryptocurrency, people's fear of the government still exists... and that is what the government uses to regulate society through coercion that can be said to be excessive.
It seems to me that governments will still gain the power to regulate cryptocurrencies in their own way.
Crypto is not just about price but also about innovation, efficiency, and transparency.
Look at the bigger picture, to speed up the mass adoption of crypto, we need governments because clear regulations on crypto are the main key to making crypto mainstream.
Crypto players, traders, and stakeholders must meet with regulators and collaborate to create better conditions.
Too many crypto projects scam the community and are not punished because of weak regulations regarding crypto.
The government can make regulations and we as crypto lovers are obliged to comply with them. but crypto is semi anonymous, we will always meet scammers in the crypto world. But if there are clear regulations from the government, at least we as crypto lovers can invest in crypto safely.
-
We are in the paradigm shift from fiat to BTC and for most people it is difficult to accept it, Most of these people are a representation of what the government is doing right now but don't worry, money naturally moves to the best store of value, and Bitcoin is the safest asset and is the best store of value, they will soon be able to see it, and they will no longer be able to ignore it.
I would say we are quite far from that, actually. Surely, if we talk about crypto enthusiasts, who understand this sphere, than that are more fond of crypto, instead of fiat. But for most people crypto is still a mystery they don't wish to discover. And, to be honest, I prefer it to stay that way, because mass adoption will lead to more strict regulation, and I don't want this to happen.
-
When good projects are accepted and operate everywhere, bringing a lot of value to users and businesses, and contributing a large amount of tax, crypto will certainly be welcomed by governments. At this point, we have not seen the application of blockchain outside the financial market, we need more efforts to convince the government to issue a legal framework for this market, which is a necessary condition for teams to know how to comply and develop their projects.
Tax, a word that the government loves :)
Speculating about the future is difficult, but the perspective of crypto assets as a global asset is getting stronger every day and yeah, we need more efforts.
Blockchain technology must be deployed where it is needed, use cases must be put forward, and education
As long as everything is done right, it will be closer than we think
-
Before now and till this present time we are talking, crypto market has been existing and never exist to depend on the government role for any of it achievements, but instead, the government are the ones being a direct beneficiaries of what they offer on them and to the people in the society, if it were to be by government wish and desires, there couldn't have been anything like crypto existing till now.
Indeed. Crypto market can survive until now without any help from the government. However, it will be a problem for us if the government bans crypto exchanges. In some cases, the government bans local exchange and people in the country has many limitation to convert their crypto assets to fiats. So even if crypto market can survive without a permission from government, the government actually has a contribution because they give a freedom to us. The local exchanges can survive because the government doesn't shut down them. They understand that the society needs to use the exchanges, they give a freedom. However, if crypto is an illegal matter in a country, the government mustn't give a freedom to the society.
-
True. Cryptocurrency markets can function without direct government authorization due to their decentralized nature, facilitated by blockchain technology.
The government has always and will always want to be in control of the people. The freedom that blockchain cryptocurrency has brought is well known to the government and their agencies. However, they will still need the control so as to see if they could keep the people perpetually under control.
-
Same happened in India years ago, central bank (RBI) banned banks to deal with individuals/companies involved in crypto, people moved to p2p. (this ban has been lifted now though).
Does your country have a plan to accept crypto? Are you willing to use crypto as a legal payment method alongside fiat currency?
1) No, we have rulling that crypto can not function as a legal tender. Would love if it changes. 2) I'd love to.
-
Same happened in India years ago, central bank (RBI) banned banks to deal with individuals/companies involved in crypto, people moved to p2p. (this ban has been lifted now though).
Does your country have a plan to accept crypto? Are you willing to use crypto as a legal payment method alongside fiat currency?
1) No, we have rulling that crypto can not function as a legal tender. Would love if it changes. 2) I'd love to.
In my country there is also no clear permission regarding the use of Cryptocurrency as a currency that can be used in everyday life. They still use local currency. Only certain people who understand Cryptocurrency trading accept transactions using Cryptocurrency. But you need to remember that the government is not responsible, no matter how small, when its people trade using Cryptocurrency because in the country there are no regulations that legalize transactions using Cryptocurrency.
-
Same happened in India years ago, central bank (RBI) banned banks to deal with individuals/companies involved in crypto, people moved to p2p. (this ban has been lifted now though).
Does your country have a plan to accept crypto? Are you willing to use crypto as a legal payment method alongside fiat currency?
1) No, we have rulling that crypto can not function as a legal tender. Would love if it changes. 2) I'd love to.
In my country there is also no clear permission regarding the use of Cryptocurrency as a currency that can be used in everyday life. They still use local currency. Only certain people who understand Cryptocurrency trading accept transactions using Cryptocurrency. But you need to remember that the government is not responsible, no matter how small, when its people trade using Cryptocurrency because in the country there are no regulations that legalize transactions using Cryptocurrency.
In countries where the government has not legalized crypto as a payment method, it is best not to use crypto as a transaction. Because the government does not protect it, if you try to use it the risk is on your own hands. In our country the government only legalizes crypto as an investment, even though we are happy because the government has allowed it, because in other countries it is still prohibited.
-
Same happened in India years ago, central bank (RBI) banned banks to deal with individuals/companies involved in crypto, people moved to p2p. (this ban has been lifted now though).
Does your country have a plan to accept crypto? Are you willing to use crypto as a legal payment method alongside fiat currency?
1) No, we have rulling that crypto can not function as a legal tender. Would love if it changes. 2) I'd love to.
In countries where the government has not legalized crypto as a payment method, it is best not to use crypto as a transaction. Because the government does not protect it, if you try to use it the risk is on your own hands. In our country the government only legalizes crypto as an investment, even though we are happy because the government has allowed it, because in other countries it is still prohibited.
Crypto is not a legal tender here but that does not mean it's prohibited, there is no offense on using it. Since there is no government entity overseeing it, in case of dispute arising in crypto transactions there is no support from government either.
We are also supposed to pay tax on crypto earnings, just like any other investment.
-
Crypto is not a legal tender here but that does not mean it's prohibited, there is no offense on using it. Since there is no government entity overseeing it, in case of dispute arising in crypto transactions there is no support from government either.
We are also supposed to pay tax on crypto earnings, just like any other investment.
We have to pay taxes on crypto transactions, that's right. In my country it is the same, and this is a good thing because the government allows us to invest in crypto, even though there are no regulations that allow us to transact using crypto. But at least we are allowed to invest in crypto and this is a positive thing for crypto lovers.
-
We have to pay taxes on crypto transactions, that's right. In my country it is the same, and this is a good thing because the government allows us to invest in crypto, even though there are no regulations that allow us to transact using crypto. But at least we are allowed to invest in crypto and this is a positive thing for crypto lovers.
Taxes are a main source of state income and support for various development and social welfare programs.
And the tax potential of crypto will be greater as crypto becomes popular, and big taxes potentially will make more and more countries support crypto.
More good things are coming :) Blockchain Technology is the future, not a single person will be able to resist it
-
Taxes are a main source of state income and support for various development and social welfare programs.
And the tax potential of crypto will be greater as crypto becomes popular, and big taxes potentially will make more and more countries support crypto.
More good things are coming :) Blockchain Technology is the future, not a single person will be able to resist it
You are actually right that the main earning source of the government is tax. And it is also that the crypto currency has many possibilities in the future, so the heads of state of different countries who can imagine the future of the next 20 years from now are taking various development activities to increase the involvement with this crypto currency along with the legalization of crypto currency. Those who cannot or will not take such development programs now will have nothing but regret years from now. But I also want to say that it doesn't matter if a country legalizes Bitcoin or not.
-
We have to pay taxes on crypto transactions, that's right. In my country it is the same, and this is a good thing because the government allows us to invest in crypto, even though there are no regulations that allow us to transact using crypto. But at least we are allowed to invest in crypto and this is a positive thing for crypto lovers.
Taxes are a main source of state income and support for various development and social welfare programs.
And the tax potential of crypto will be greater as crypto becomes popular, and big taxes potentially will make more and more countries support crypto.
More good things are coming :) Blockchain Technology is the future, not a single person will be able to resist it
Big taxes thwart the individuals from paying taxes though, people feel tax is too high and they will try to find alternate means to withdraw their crypto to fiat.
In India, there is 30% tax on crypto investments, I feel it's more than necessary, if the rates were reasonable about 10-15%, people would show willingness to pay. There is huge money to be made in crypto for both governments and individuals, I wish governments would stop thwarting this by pushing huge taxes.
-
We have to pay taxes on crypto transactions, that's right. In my country it is the same, and this is a good thing because the government allows us to invest in crypto, even though there are no regulations that allow us to transact using crypto. But at least we are allowed to invest in crypto and this is a positive thing for crypto lovers.
Taxes are a main source of state income and support for various development and social welfare programs.
And the tax potential of crypto will be greater as crypto becomes popular, and big taxes potentially will make more and more countries support crypto.
More good things are coming :) Blockchain Technology is the future, not a single person will be able to resist it
Big taxes thwart the individuals from paying taxes though, people feel tax is too high and they will try to find alternate means to withdraw their crypto to fiat.
In India, there is 30% tax on crypto investments, I feel it's more than necessary, if the rates were reasonable about 10-15%, people would show willingness to pay. There is huge money to be made in crypto for both governments and individuals, I wish governments would stop thwarting this by pushing huge taxes.
If taxes are too large, it is likely that people will be lazy about paying taxes, especially as you said investment taxes in India reach 30%, this is very burdensome for crypto investors. The country's government should review this rule.
-
If taxes are too large, it is likely that people will be lazy about paying taxes, especially as you said investment taxes in India reach 30%, this is very burdensome for crypto investors. The country's government should review this rule.
I also do not like the 30% tax rate on crypto profits, because investors also have to spend a lot of capital, health and mental effort to get that profit, a tax that is too high can cause for investors to get discouraged and abandon the market, or find ways to avoid taxes. Unfortunately, we are currently seeing many countries using tax rates higher than 30% @@
In Vietnam, crypto is still in a gray area: the government neither prohibits nor allows it, meaning investors do not need to pay taxes but are also not protected in the event of crypto asset fraud. For me, this is suitable and I am completely satisfied with 0% tax. However, startups in the crypto sector will be forced to go to other countries such as Singapore and Hongkong to register their business.
- Crypto Tax Rates In Various Countries (https://cleartax.in/s/crypto-tax-rates-in-various-countries)
-
We have to pay taxes on crypto transactions, that's right. In my country it is the same, and this is a good thing because the government allows us to invest in crypto, even though there are no regulations that allow us to transact using crypto. But at least we are allowed to invest in crypto and this is a positive thing for crypto lovers.
Taxes are a main source of state income and support for various development and social welfare programs.
And the tax potential of crypto will be greater as crypto becomes popular, and big taxes potentially will make more and more countries support crypto.
More good things are coming :) Blockchain Technology is the future, not a single person will be able to resist it
Big taxes thwart the individuals from paying taxes though, people feel tax is too high and they will try to find alternate means to withdraw their crypto to fiat.
In India, there is 30% tax on crypto investments, I feel it's more than necessary, if the rates were reasonable about 10-15%, people would show willingness to pay. There is huge money to be made in crypto for both governments and individuals, I wish governments would stop thwarting this by pushing huge taxes.
If taxes are too large, it is likely that people will be lazy about paying taxes, especially as you said investment taxes in India reach 30%, this is very burdensome for crypto investors. The country's government should review this rule.
What you say could be true. There is a fear of paying high taxes. Actually, the problem is that if the tax proceeds are used properly by the state for the benefit of development and welfare of its people, I think there is no problem. But most of it is that tax irregularities have occurred that that many people are apathetic about wanting to pay taxes. So, everything is returned to the individual, because in crypto you can do it without wanting to pay taxes, because of the nature of crypto, which cannot be interfered with.
-
If taxes are too large, it is likely that people will be lazy about paying taxes, especially as you said investment taxes in India reach 30%, this is very burdensome for crypto investors. The country's government should review this rule.
What you say could be true. There is a fear of paying high taxes. Actually, the problem is that if the tax proceeds are used properly by the state for the benefit of development and welfare of its people, I think there is no problem. But most of it is that tax irregularities have occurred that that many people are apathetic about wanting to pay taxes. So, everything is returned to the individual, because in crypto you can do it without wanting to pay taxes, because of the nature of crypto, which cannot be interfered with.
[/quote]
When we pay taxes and these taxes are not used for development and good for the community's economy, most of them are also corrupted, making us as citizens disappointed and reluctant to pay taxes. but actually we don't need to expose our crypto asset wealth to avoid being chased by tax officials.
-
In countries where the government has not legalized crypto as a payment method, it is best not to use crypto as a transaction. Because the government does not protect it, if you try to use it the risk is on your own hands. In our country the government only legalizes crypto as an investment, even though we are happy because the government has allowed it, because in other countries it is still prohibited.
If we count the countries that has Bitcoin legal status, trust me they are not upto 7. The majority of the countries aren't against Bitcoin neither did they make Bitcoin a legal thing. While few countries has allow their citizens to legally used it but it's not a legal tender and you can used it freely. The only places I think people should not use Bitcoin are the places where there is a strict ban law by the country.
One day, I believe the Bitcoin revolution is going to be everywhere and it's not like their is going to a chaos of sort but it's going to be what people want and then the government will legalize it even though they don't make it legal tender but what I don't know is the regulations that may come after, you know the government is known for give and take.
-
We have to pay taxes on crypto transactions, that's right. In my country it is the same, and this is a good thing because the government allows us to invest in crypto, even though there are no regulations that allow us to transact using crypto. But at least we are allowed to invest in crypto and this is a positive thing for crypto lovers.
Taxes are a main source of state income and support for various development and social welfare programs.
And the tax potential of crypto will be greater as crypto becomes popular, and big taxes potentially will make more and more countries support crypto.
More good things are coming :) Blockchain Technology is the future, not a single person will be able to resist it
Big taxes thwart the individuals from paying taxes though, people feel tax is too high and they will try to find alternate means to withdraw their crypto to fiat.
In India, there is 30% tax on crypto investments, I feel it's more than necessary, if the rates were reasonable about 10-15%, people would show willingness to pay. There is huge money to be made in crypto for both governments and individuals, I wish governments would stop thwarting this by pushing huge taxes.
If taxes are too large, it is likely that people will be lazy about paying taxes, especially as you said investment taxes in India reach 30%, this is very burdensome for crypto investors. The country's government should review this rule.
What you say could be true. There is a fear of paying high taxes. Actually, the problem is that if the tax proceeds are used properly by the state for the benefit of development and welfare of its people, I think there is no problem. But most of it is that tax irregularities have occurred that that many people are apathetic about wanting to pay taxes. So, everything is returned to the individual, because in crypto you can do it without wanting to pay taxes, because of the nature of crypto, which cannot be interfered with.
Or others think that the taxes that we payed are going into the pockets of corrupt politicians that's why there are individuals who have problems paying taxes. There will be no problems if it will properly go to projects like health and welfare of the population.
But we can't deny that there are certain countries whose leadership are very corrupt and that's why the issues of not paying is a big thing for them. And now with the introduction of crypto, but I don't know, maybe it could benefits some individuals that are against paying taxes because of reasons that I mentioned above.
-
What you say could be true. There is a fear of paying high taxes. Actually, the problem is that if the tax proceeds are used properly by the state for the benefit of development and welfare of its people, I think there is no problem. But most of it is that tax irregularities have occurred that that many people are apathetic about wanting to pay taxes. So, everything is returned to the individual, because in crypto you can do it without wanting to pay taxes, because of the nature of crypto, which cannot be interfered with.
No one wants to pay high taxes, especially when those taxes are misused due to corruption... Well, I think taxation is necessary to legitimize the crypto market but the government also needs to determine a reasonable tax rate and commit to using a portion of that tax revenue to manage and promote the development of the crypto market, as well as protect the rights of crypto investors in complex situations.
For me, 5%-10% would be an appropriate tax rate, and in addition, the government could exempt taxes for the first few years to encourage the crypto market!
-
What you say could be true. There is a fear of paying high taxes. Actually, the problem is that if the tax proceeds are used properly by the state for the benefit of development and welfare of its people, I think there is no problem. But most of it is that tax irregularities have occurred that that many people are apathetic about wanting to pay taxes. So, everything is returned to the individual, because in crypto you can do it without wanting to pay taxes, because of the nature of crypto, which cannot be interfered with.
No one wants to pay high taxes, especially when those taxes are misused due to corruption... Well, I think taxation is necessary to legitimize the crypto market but the government also needs to determine a reasonable tax rate and commit to using a portion of that tax revenue to manage and promote the development of the crypto market, as well as protect the rights of crypto investors in complex situations.
For me, 5%-10% would be an appropriate tax rate, and in addition, the government could exempt taxes for the first few years to encourage the crypto market!
I do not think the government would agree to giving Crypto firms one year tax exemption. That would be the last thing they would do when it involves huge amount of money that they could benefit from. You know what, the government can be very greedy too not only individuals.
You are right that people are just really looking for possible means to skip taxation because they think the government are not doing the right thing with it. Looting and embezzlement is the order of the day in government that nobody dare says anything about it.
It is true that taxation is very important in the society because from the tax paid, social amenities are provided for the people. Roads and other meaningful projects are executed as a result of tax collected. So taxing crypto organisations by the government is not a bad thing as we all know but the truth is that let the right thing be done with the taxes collected.
-
If taxes are too large, it is likely that people will be lazy about paying taxes, especially as you said investment taxes in India reach 30%, this is very burdensome for crypto investors. The country's government should review this rule.
High taxes are not the problem itself. If taxes really go where they are supposed to, if they create infrastructure, cultural places, civilization moves forward and society begins to live better, then it is not a pity to pay high taxes. Problems begin when taxes are stolen by those who are in power. Of course, in such a case there is no reason and desire to pay even 5%, not to mention 30%.
-
For me, 5%-10% would be an appropriate tax rate, and in addition, the government could exempt taxes for the first few years to encourage the crypto market!
I would be happy with lower taxes even if government don't do anything in support for crypto.
-
For me, 5%-10% would be an appropriate tax rate, and in addition, the government could exempt taxes for the first few years to encourage the crypto market!
I would be happy with lower taxes even if government don't do anything in support for crypto.
What I want to see from the government is not even support and help, but at least non-interference. I can pay 10-15%, but at the same time I want to be sure that my activities will not be undermined. That would be the best option.
-
If taxes are too large, it is likely that people will be lazy about paying taxes, especially as you said investment taxes in India reach 30%, this is very burdensome for crypto investors. The country's government should review this rule.
High taxes are not the problem itself. If taxes really go where they are supposed to, if they create infrastructure, cultural places, civilization moves forward and society begins to live better, then it is not a pity to pay high taxes. Problems begin when taxes are stolen by those who are in power. Of course, in such a case there is no reason and desire to pay even 5%, not to mention 30%.
You're on point mate. This is one of the reasons most persons get tired of paying government taxes. The fact that they don't see any new developments by the government and their claims with taxes is just so annoying. Well from where I come from, taxes aren't that high, they are pretty much affordable and easy to deal with but I do understand how most government of other countries make their taxes so high that a common citizen cannot cope with and still fight for survival of his life. Paying 10% or 30% is too high for taxes, after paying that, the remaining balance is not enough to be used for maybe your planned project.... The government should reconsider reducing taxes.
-
For me, 5%-10% would be an appropriate tax rate, and in addition, the government could exempt taxes for the first few years to encourage the crypto market!
I would be happy with lower taxes even if government don't do anything in support for crypto.
What I want to see from the government is not even support and help, but at least non-interference. I can pay 10-15%, but at the same time I want to be sure that my activities will not be undermined. That would be the best option.
When you pay 10-15% to the government where does the money you pay go? Is it for the development of the country's infrastructure or will it only go into their personal wallets? So far, many governments have been neutral about Cryptocurrency, perhaps only a few governments in certain countries have restrictions on the use of Cryptocurrency, such as what happened in Germany a few days ago, which sold all the Bitcoin they had.
-
What I want to see from the government is not even support and help, but at least non-interference. I can pay 10-15%, but at the same time I want to be sure that my activities will not be undermined. That would be the best option.
If the government collects taxes on crypto, they will need to issue a legal framework to manage this market: prevent criminals and protect legitimate investors. At least, they also recognize crypto and do not continue to attack crypto on the media, which will indirectly promote the development of crypto in that country.
In case the government cannot manage crypto, it would be better if they continue to be silent and let crypto develop in a gray area: investors do not need to pay taxes but are not protected.
-
What I want to see from the government is not even support and help, but at least non-interference. I can pay 10-15%, but at the same time I want to be sure that my activities will not be undermined. That would be the best option.
If the government collects taxes on crypto, they will need to issue a legal framework to manage this market: prevent criminals and protect legitimate investors. At least, they also recognize crypto and do not continue to attack crypto on the media, which will indirectly promote the development of crypto in that country.
In case the government cannot manage crypto, it would be better if they continue to be silent and let crypto develop in a gray area: investors do not need to pay taxes but are not protected.
Precisely, this is what I feel also; If government legalizes crypto, they will have to create frameworks and I feel government folks are incompetent at that, specially the old folks which usually have strings to pull, so they'd rather not bother with it all.
-
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.
That's for decentralized exchanges and not centralized exchanges which users needs to exchange their crypto assets to fiats.
-
For me, 5%-10% would be an appropriate tax rate, and in addition, the government could exempt taxes for the first few years to encourage the crypto market!
I would be happy with lower taxes even if government don't do anything in support for crypto.
Support you say!
Government can't support crypto, like the subject of this thread says, the crypto market can exist and do so well without the government, so literally crypto don't need no government, on the contrary, I believe it's the government that actually needs crypto because even the government have realized the potentials cryptocurrencies like Bitcoin has, they know fully well that bitcoin has the potential to solve most of the economical problems we face today, but since the current condition of the economic actual puts money on their purse, they'd rather just let things be the way they are right now and secretly exploit their citizens.
But since they also are fully aware they can't stop the existence of crypto, they try a more suitable approach that'll make them have a piece of the crypto cake via imposing of taxation on crypto and also enacting a few laws that'll enable them monitor crypto activities.
-
If taxes are too large, it is likely that people will be lazy about paying taxes, especially as you said investment taxes in India reach 30%, this is very burdensome for crypto investors. The country's government should review this rule.
High taxes are not the problem itself. If taxes really go where they are supposed to, if they create infrastructure, cultural places, civilization moves forward and society begins to live better, then it is not a pity to pay high taxes. Problems begin when taxes are stolen by those who are in power. Of course, in such a case there is no reason and desire to pay even 5%, not to mention 30%.
- Taxes are actually normal in the government of every country, and you are quite right that I also agree that if other government officials are corrupt, that is not good because it will only be theft instead of allocating it to the majority of taxpayers.
Besides, the government only depends on taxes so that they can provide good programmes for their constituent citizens. That's why it's even better for a government official to be loyal to the service.
-
What I want to see from the government is not even support and help, but at least non-interference. I can pay 10-15%, but at the same time I want to be sure that my activities will not be undermined. That would be the best option.
If the government collects taxes on crypto, they will need to issue a legal framework to manage this market: prevent criminals and protect legitimate investors. At least, they also recognize crypto and do not continue to attack crypto on the media, which will indirectly promote the development of crypto in that country.
In case the government cannot manage crypto, it would be better if they continue to be silent and let crypto develop in a gray area: investors do not need to pay taxes but are not protected.
Yes, of course, this is an ideal option. But this is not the case in all states. For example, in the country where I live, it is considered normal practice to raise taxes, not change the legislation so that it is human-oriented, steal money from the budget, and the population will remain without protection. And no one in the ruling circles even thinks about the future, about the fact that such a feeding trough is not eternal. Their goals are short-term: to grab as big a piece as possible until others come with the same goal and displace them.
-
I think crypto can still operate even though the government prohibits it, there are even countries where the country considers crypto trading to be illegal but there are still many people who trade it... it's a shame that countries prohibit it from being used as payment or something like that because it has so many benefits for everyone and makes technology easier. now, with this the country will progress and will get huge profits from crypto. and crypto has changed the economy a lot for people who involve themselves with crypto.
-
I am from India. Earlier crypto was free in my country. But since last few years Indian government has taken over crypto. And it is continuing to do so. High taxes are being imposed and new rules are being imposed. If I look at the past time, the crypto market was running smoothly without any interference from the government.
-
I think crypto can still operate even though the government prohibits it, there are even countries where the country considers crypto trading to be illegal but there are still many people who trade it... it's a shame that countries prohibit it from being used as payment or something like that because it has so many benefits for everyone and makes technology easier. now, with this the country will progress and will get huge profits from crypto. and crypto has changed the economy a lot for people who involve themselves with crypto.
Its not problem when government prohibit with cryptocurrency market regulation regarding we can access it trough VPN, in my country we faced bigger problem last year when government banned access to global market such as Binance, Houbi but we can use VPN to access without any problem yet. Cryptocurrency can't controlling by one country only and depend on holder or trader how to make market keep solid with many buy or sell order.
Many countries prohibited with top global market exchange access but most of them can access well by using unique IP, right now in my country Indonesia have suspended all social media of exchange global market.
-
For me, 5%-10% would be an appropriate tax rate, and in addition, the government could exempt taxes for the first few years to encourage the crypto market!
I would be happy with lower taxes even if government don't do anything in support for crypto.
Support you say!
Government can't support crypto, like the subject of this thread says, the crypto market can exist and do so well without the government, so literally crypto don't need no government, on the contrary, I believe it's the government that actually needs crypto because even the government have realized the potentials cryptocurrencies like Bitcoin has, they know fully well that bitcoin has the potential to solve most of the economical problems we face today, but since the current condition of the economic actual puts money on their purse, they'd rather just let things be the way they are right now and secretly exploit their citizens.
But since they also are fully aware they can't stop the existence of crypto, they try a more suitable approach that'll make them have a piece of the crypto cake via imposing of taxation on crypto and also enacting a few laws that'll enable them monitor crypto activities.
Quite controversial statements !
1. Cryptocurrency cannot simply and fully exist when the entire market is fiat money. Simplified and clear - you can not buy water, meat, vegetables for cryptocurrency. So you cannot use cryptocurrency as an alternative financial system. That's a fact !
2. “Bitcoin can solve most economic problems” - it can't ! Economic problems are not solved by changing the type of financial system, but by economic mechanisms. If we do not know something - share, how do you think replacing the fiat system with bitcoin will save the economy, for example, your country ? Only please - in detail and with arguments and taking into account all the nuances ?
PS I'm sure there will be no answer to this question :)
-
Quite controversial statements !
1. Cryptocurrency cannot simply and fully exist when the entire market is fiat money. Simplified and clear - you can not buy water, meat, vegetables for cryptocurrency. So you cannot use cryptocurrency as an alternative financial system. That's a fact !
2. “Bitcoin can solve most economic problems” - it can't ! Economic problems are not solved by changing the type of financial system, but by economic mechanisms. If we do not know something - share, how do you think replacing the fiat system with bitcoin will save the economy, for example, your country ? Only please - in detail and with arguments and taking into account all the nuances ?
PS I'm sure there will be no answer to this question :)
First of, I didn't say Bitcoin can completely replace the traditional fiat currency, because I'm fully aware that each of em has exactly how best they feature and contribute to the development and smooth running of the economy.
Secondly, I'm not advocating that Bitcoin has the capacity to solve ALL economic problems, but there are some crucial aspects of the economy that Bitcoin can indeed lubricate such as.
1. Bitcoin as a store of value, I believe a lot of people can agree with me that Bitcoin can be considered to be a better store of Value compared to Gold and other store of value.
2. Security: Bitcoin's decentralized nature provides a much better security and transparency when compared to the traditional fiat system.
3. Censorship Resistance: since Bitcoin is decentralized, it's impossible for anyone to block or freeze Bitcoin transactions.
4. Inflation protection, I believe this one is self explanatory.
There are several others I can't mention.
Maybe you think changing a country's financial system wouldn't have much impact on economic reformation and development, but then again, we can agree that finance happens to be one of the most important aspect and pillars of an economy, so when there's a flaw in the financial system of a country, the economy is automatically affected.
-
If taxes are too large, it is likely that people will be lazy about paying taxes, especially as you said investment taxes in India reach 30%, this is very burdensome for crypto investors. The country's government should review this rule.
High taxes are not the problem itself. If taxes really go where they are supposed to, if they create infrastructure, cultural places, civilization moves forward and society begins to live better, then it is not a pity to pay high taxes. Problems begin when taxes are stolen by those who are in power. Of course, in such a case there is no reason and desire to pay even 5%, not to mention 30%.
I thunk high tax is also a fact when you earn low. We know there are lot of option in crypto where you can earn different amount. If you pay over taxes what will be on your hand then. So that need a good decision and infrastructure to control al over and decrease the tax amount. It will help to encourage the earning people from crypto to earn much and more and enjoy and survive their money. I also have heard many times to restrict it by low but nothing could happen with that. I wanna say to them make a low how to control and make secure thing as currency which makes a country to go ahead to the next world.
-
I am from India. Earlier crypto was free in my country. But since last few years Indian government has taken over crypto. And it is continuing to do so. High taxes are being imposed and new rules are being imposed. If I look at the past time, the crypto market was running smoothly without any interference from the government.
Of course, it is very a dilemma for you because there is no restriction. Now it is applied to high tax restrictions, because the government already knows that interested people or users of Crypto in your country are very large, so it is natural that the government is limiting taxes so that there is income for the government. But we know that crypto is not intervened and can do trade, etc. not through the government, but it is clear that it violates the rules and it is not recommended to violate the rules.
-
...But we know that crypto is not intervened and can do trade, etc. not through the government...
Back when crypto was completely banned, Indians could trade via p2p means but it had it's fair share of problems, I was scammed once too. From that perspective, it's good that ban was lifted and now exchanges are free to operate, at least people can exchange their fiat assets safely despite having to pay taxes.
-
Quite controversial statements !
1. Cryptocurrency cannot simply and fully exist when the entire market is fiat money. Simplified and clear - you can not buy water, meat, vegetables for cryptocurrency. So you cannot use cryptocurrency as an alternative financial system. That's a fact !
2. “Bitcoin can solve most economic problems” - it can't ! Economic problems are not solved by changing the type of financial system, but by economic mechanisms. If we do not know something - share, how do you think replacing the fiat system with bitcoin will save the economy, for example, your country ? Only please - in detail and with arguments and taking into account all the nuances ?
PS I'm sure there will be no answer to this question :)
First of, I didn't say Bitcoin can completely replace the traditional fiat currency, because I'm fully aware that each of em has exactly how best they feature and contribute to the development and smooth running of the economy.
Secondly, I'm not advocating that Bitcoin has the capacity to solve ALL economic problems, but there are some crucial aspects of the economy that Bitcoin can indeed lubricate such as.
1. Bitcoin as a store of value, I believe a lot of people can agree with me that Bitcoin can be considered to be a better store of Value compared to Gold and other store of value.
2. Security: Bitcoin's decentralized nature provides a much better security and transparency when compared to the traditional fiat system.
3. Censorship Resistance: since Bitcoin is decentralized, it's impossible for anyone to block or freeze Bitcoin transactions.
4. Inflation protection, I believe this one is self explanatory.
There are several others I can't mention.
Maybe you think changing a country's financial system wouldn't have much impact on economic reformation and development, but then again, we can agree that finance happens to be one of the most important aspect and pillars of an economy, so when there's a flaw in the financial system of a country, the economy is automatically affected.
Thanks for the clarification, I'll add that I probably didn't express my opinion accurately if you thought that I expected you to “solve all problems” :) Yes, English is not my native language, you can expect inaccuracies.
Let me start with the last sentences: the financial system is one of the main pillars of the economy. It's silly to deny it. But there is a nuance... the financial system is very much related to such a concept as POWER. And here we face the first problem - a decentralized, not controlled “out of my hands” system is not needed by the POWER. Otherwise, it, the power, will lose one of the key mechanisms of governance.
1. Bitcoin as a means of saving is a good idea, but.... it is more or less workable if there are guarantees of bitcoin growth, and the HOLDER'S POSSIBILITY to hold it without selling it for 2-3-5 years. Hint - poor people can't do it....
2. Decentralization is good, but also... bad - any mistake in the address - and bitcoin is irretrievably lost. Or if a person can't ensure quality storage of a passphrase, password - his bitcoins will DEFINITELY be stolen.... Decentralization has disadvantages in addition to advantages, this is also a fact
3. Yes, decentralization is good, but... Legislative norms and mechanisms of influence can easily make your bitcoins (your wallet) illiquid by putting it on a blacklist for exchanges, stores,...
4.Regarding the protection against inflation - also a controversial issue, because it can give a positive result only in the long term, which, for example, the poor are not ready for.....
-
Thanks for the clarification, I'll add that I probably didn't express my opinion accurately if you thought that I expected you to “solve all problems” :) Yes, English is not my native language, you can expect inaccuracies.
Let me start with the last sentences: the financial system is one of the main pillars of the economy. It's silly to deny it. But there is a nuance... the financial system is very much related to such a concept as POWER. And here we face the first problem - a decentralized, not controlled “out of my hands” system is not needed by the POWER. Otherwise, it, the power, will lose one of the key mechanisms of governance.
1. Bitcoin as a means of saving is a good idea, but.... it is more or less workable if there are guarantees of bitcoin growth, and the HOLDER'S POSSIBILITY to hold it without selling it for 2-3-5 years. Hint - poor people can't do it....
2. Decentralization is good, but also... bad - any mistake in the address - and bitcoin is irretrievably lost. Or if a person can't ensure quality storage of a passphrase, password - his bitcoins will DEFINITELY be stolen.... Decentralization has disadvantages in addition to advantages, this is also a fact
3. Yes, decentralization is good, but... Legislative norms and mechanisms of influence can easily make your bitcoins (your wallet) illiquid by putting it on a blacklist for exchanges, stores,...
4.Regarding the protection against inflation - also a controversial issue, because it can give a positive result only in the long term, which, for example, the poor are not ready for.....
All you've said is just as accurate as said, I'd be damned if I said decentralization doesn't have its prons and cons, just like every other things, decentralization has its disadvantages and flaws but compared to native fiat currency/banking systems, you'll need to consider which option is a lot more preferable or convenient.
To buttress your 1st point, while you're right that there's no guarantee for Bitcoin growth, and yes past events are not a guarantee for future performance but then again, if you think about it very well, you'll be able to notice that Bitcoin has proven beyond doubt to be the best digital asset when it comes of having potential for future growth and maintaining its reputation in the long run.
Thousands/millions of people around the globe are actively participating and HODLing Bitcoin, I'm pretty sure if they're not sure and positive about tye authenticity of Bitcoin, the population wouldn't be that much.
Concerning the HOLDER's possibility to HODL for that long, before a person decides to store his value or his money, he should already be aware that savings are meant to be for the long-term, except of course they plan to save for a short-term goal, then they can sort for other means to save.
Sure, the poor may not be able to do it, but then again, how many poor people has the ability to purchase gold and save their money there? It's also almost impossible for the poor to do so too right?
Yes, any mistakes in the address, one's Bitcoin is irretrievably lost hence the reason why people needs to double check the address or any of the recipient's details before initiating any transactions, which is the normal thing to do when making transactions.
Concerning one's wallet being compromised due to their inability to secure their passphrases or any other confidential information, people should always be aware that information such as those are quite delicate and should be protected, it's just like accidentally giving out your credit card or debit card details to someone else and then got scammed... Whether with bitcoin or traditional banking systems, there's always need to be cautious and protective of your personal information and avoid them getting into the wrong hands.
You need to realize that the Blockchain technology and Bitcoin is relatively a new technology and currency, and has the possibility to make changes and has room for further developments and innovations.
-
Thanks for the clarification, I'll add that I probably didn't express my opinion accurately if you thought that I expected you to “solve all problems” :) Yes, English is not my native language, you can expect inaccuracies.
Let me start with the last sentences: the financial system is one of the main pillars of the economy. It's silly to deny it. But there is a nuance... the financial system is very much related to such a concept as POWER. And here we face the first problem - a decentralized, not controlled “out of my hands” system is not needed by the POWER. Otherwise, it, the power, will lose one of the key mechanisms of governance.
1. Bitcoin as a means of saving is a good idea, but.... it is more or less workable if there are guarantees of bitcoin growth, and the HOLDER'S POSSIBILITY to hold it without selling it for 2-3-5 years. Hint - poor people can't do it....
2. Decentralization is good, but also... bad - any mistake in the address - and bitcoin is irretrievably lost. Or if a person can't ensure quality storage of a passphrase, password - his bitcoins will DEFINITELY be stolen.... Decentralization has disadvantages in addition to advantages, this is also a fact
3. Yes, decentralization is good, but... Legislative norms and mechanisms of influence can easily make your bitcoins (your wallet) illiquid by putting it on a blacklist for exchanges, stores,...
4.Regarding the protection against inflation - also a controversial issue, because it can give a positive result only in the long term, which, for example, the poor are not ready for.....
All you've said is just as accurate as said, I'd be damned if I said decentralization doesn't have its prons and cons, just like every other things, decentralization has its disadvantages and flaws but compared to native fiat currency/banking systems, you'll need to consider which option is a lot more preferable or convenient.
To buttress your 1st point, while you're right that there's no guarantee for Bitcoin growth, and yes past events are not a guarantee for future performance but then again, if you think about it very well, you'll be able to notice that Bitcoin has proven beyond doubt to be the best digital asset when it comes of having potential for future growth and maintaining its reputation in the long run.
Thousands/millions of people around the globe are actively participating and HODLing Bitcoin, I'm pretty sure if they're not sure and positive about tye authenticity of Bitcoin, the population wouldn't be that much.
Concerning the HOLDER's possibility to HODL for that long, before a person decides to store his value or his money, he should already be aware that savings are meant to be for the long-term, except of course they plan to save for a short-term goal, then they can sort for other means to save.
Sure, the poor may not be able to do it, but then again, how many poor people has the ability to purchase gold and save their money there? It's also almost impossible for the poor to do so too right?
Yes, any mistakes in the address, one's Bitcoin is irretrievably lost hence the reason why people needs to double check the address or any of the recipient's details before initiating any transactions, which is the normal thing to do when making transactions.
Concerning one's wallet being compromised due to their inability to secure their passphrases or any other confidential information, people should always be aware that information such as those are quite delicate and should be protected, it's just like accidentally giving out your credit card or debit card details to someone else and then got scammed... Whether with bitcoin or traditional banking systems, there's always need to be cautious and protective of your personal information and avoid them getting into the wrong hands.
You need to realize that the Blockchain technology and Bitcoin is relatively a new technology and currency, and has the possibility to make changes and has room for further developments and innovations.
If we consider the situation from the point of view of bitcoin's quality and prospects as a digital asset - I absolutely agree, everything is correct.
But as always, there are nuances.... On the one hand, in the long term, we see a tendency for bitcoin to grow with some cycles.
On the other hand we see cycles of severe value decline, also with cycles.
The question is - how long will this trend continue ? I have a hunch that today's “recognition” of the Bitcoin ETF is done for a rather cunning move - on the one hand to “recognize” and on the other hand to show that this asset, in a regulated financial system, will not be such an effective investment vehicle, just to hit the reputation of bitcoin and cryptocurrencies in general. There are a lot of reasons for this - from discomfort for the financial system of the state(s), to “inconvenient asset” for those in power ...
And again - the opportunity to use bitcoin, to store it, is available only to people with average income, and this is a very important nuance, because the majority of people, it is not an available instrument of accumulation/income.
This is what I'm getting at - bitcoin cannot be a tool that “will save the country's economy”, it is a purely speculative asset (for today) that does not help the economy in any way, but helps some group of people.
-
✂️✂️✂️✂️
While the economic value of Bitcoin might not be seen as directly generating money like goods and services do, it is also instrumental in generating forms of value that could prove useful in the economic development of the country eventually. For instance, Bitcoin’s ability of cheap and fast international remittances can triple ‘in-flow’ of money to a nation. Moreover, it can able to offer basic and essential financial services to the unserved and low income population hence enhance financial inclusion.
The increasing popularity of Bitcoin and blockchain technology also has the potential to draw investments, encourage innovations, and bring new business prospects associated with, for instance, fintech and Web3. Additionally, Bitcoin can also be used as an item of stash and for this end, can be of benefit to whoever wishes to keep his or her money and actually any class irrespective of their financial status especially in countries experiencing high inflation or even currency devaluation helping to maintain people’s wealth and stabilize an economy.
However, one must emphasize that these potential benefits are still in their defragmentation stage and may further evolve with time along with improvements in the existing and new technologies as well as with changing regulations. That is why speaking about the consequences of Bitcoin adoption one has to admit that its speculative character is rather justified now, but it is not the only advantage that can affect the economy of a country.
-
✂️✂️✂️✂️
While the economic value of Bitcoin might not be seen as directly generating money like goods and services do, it is also instrumental in generating forms of value that could prove useful in the economic development of the country eventually. For instance, Bitcoin’s ability of cheap and fast international remittances can triple ‘in-flow’ of money to a nation. Moreover, it can able to offer basic and essential financial services to the unserved and low income population hence enhance financial inclusion.
The increasing popularity of Bitcoin and blockchain technology also has the potential to draw investments, encourage innovations, and bring new business prospects associated with, for instance, fintech and Web3. Additionally, Bitcoin can also be used as an item of stash and for this end, can be of benefit to whoever wishes to keep his or her money and actually any class irrespective of their financial status especially in countries experiencing high inflation or even currency devaluation helping to maintain people’s wealth and stabilize an economy.
However, one must emphasize that these potential benefits are still in their defragmentation stage and may further evolve with time along with improvements in the existing and new technologies as well as with changing regulations. That is why speaking about the consequences of Bitcoin adoption one has to admit that its speculative character is rather justified now, but it is not the only advantage that can affect the economy of a country.
On the one hand, I agree, but there are contradictions. First of all, I re-emphasize the group of low-income people. Why? Because for a layer of rich people or the middle class, bitcoin can serve as an asset for saving, investing or preserving the value of money, which they already have in sufficient quantity.
But I am most interested in the poor part of the population, because people with low incomes need help the most, against the background of the rich or middle class.
This is where the nuances come in. Nuance one, a primitive nuance, is a technological nuance. Cryptocurrency requires hardware and internet. Hard to argue, but most poor people do not have this “kit” That is, most of them will simply not be able to technically use this technology
Nuance number two is the cost of transactions. People who have, for example, a monthly income in the equivalent of 100 dollars, or so, are unlikely to accept a fee of 20-40 dollars.
These are nuances that lie on the surface. And this we have not yet reached the issue of using savings in bitcoin to provide for their daily needs.....
In sum, my thought is that bitcoin is not a bad financial instrument, but its scope of application is limited to users with medium or high incomes.
-
On the one hand, I agree, but there are contradictions. First of all, I re-emphasize the group of low-income people. Why? Because for a layer of rich people or the middle class, bitcoin can serve as an asset for saving, investing or preserving the value of money, which they already have in sufficient quantity.
But I am most interested in the poor part of the population, because people with low incomes need help the most, against the background of the rich or middle class.
This is where the nuances come in. Nuance one, a primitive nuance, is a technological nuance. Cryptocurrency requires hardware and internet. Hard to argue, but most poor people do not have this “kit” That is, most of them will simply not be able to technically use this technology
Nuance number two is the cost of transactions. People who have, for example, a monthly income in the equivalent of 100 dollars, or so, are unlikely to accept a fee of 20-40 dollars.
These are nuances that lie on the surface. And this we have not yet reached the issue of using savings in bitcoin to provide for their daily needs.....
In sum, my thought is that bitcoin is not a bad financial instrument, but its scope of application is limited to users with medium or high incomes.
I count BTC as a financial instrument in the investment sector, meaning it can become a way to store value or generate profits for investors. Unlike other traditional assets such as gold, stocks, or real estate, participating in the purchase and self-custody of BTC has fewer barriers, and many people can participate. The internet and smartphones have become popular, meaning that billions of people can participate in investing a few tens of $ into BTC, which is completely possible.
Transaction costs are no longer an issue with BTC as the Lightning Network has been able to serve at a speed of millions of tps, reducing transaction fees to a few cents. This is being experienced by the people of El Salvador.
Finally, if someone believes in the enormous potential of BTC, they can choose BTC to be a strategic investment, regardless of government permission or bans. This is something that other asset classes can hardly provide!
-
...But we know that crypto is not intervened and can do trade, etc. not through the government...
Back when crypto was completely banned, Indians could trade via p2p means but it had it's fair share of problems, I was scammed once too. From that perspective, it's good that ban was lifted and now exchanges are free to operate, at least people can exchange their fiat assets safely despite having to pay taxes.
Well, based on my understanding with your opinion it is clear that you feel safe with centralized exchange and tax is worth it. But to be honest it is really safe doing that for some reason that is why we have options to whether hodl our funds from non custodial wallets, local crypto e-wallets and a crypto exchange especially the local one for us to be able to convert crypto to our local fiat currency without any feelings of doubts about being scammed because it was all under SEC though I personally use it only for withdrawals because I don't usually store crypto in there unless I need to cash it out.
-
...But we know that crypto is not intervened and can do trade, etc. not through the government...
Back when crypto was completely banned, Indians could trade via p2p means but it had it's fair share of problems, I was scammed once too. From that perspective, it's good that ban was lifted and now exchanges are free to operate, at least people can exchange their fiat assets safely despite having to pay taxes.
Well, based on my understanding with your opinion it is clear that you feel safe with centralized exchange and tax is worth it. But to be honest it is really safe doing that for some reason that is why we have options to whether hodl our funds from non custodial wallets, local crypto e-wallets and a crypto exchange especially the local one for us to be able to convert crypto to our local fiat currency without any feelings of doubts about being scammed because it was all under SEC though I personally use it only for withdrawals because I don't usually store crypto in there unless I need to cash it out.
I also use local CEXs for withdrawals to fiat only, usually don't keep much funds there as there aren't many coins to purchase anyway compared to bigger exchanges like binance and dexes.
-
...But we know that crypto is not intervened and can do trade, etc. not through the government...
Back when crypto was completely banned, Indians could trade via p2p means but it had it's fair share of problems, I was scammed once too. From that perspective, it's good that ban was lifted and now exchanges are free to operate, at least people can exchange their fiat assets safely despite having to pay taxes.
Actually, taking action against the rules is clearly inappropriate even though there are facilities that can be done even though they are against the rules. But again, the risks and fraud like you said can happen with transactions like you said, because they are not supported by clear rules.
Be happy if the rules have started to be opened and allowed, because that is the best way that is very appropriate to do it rather than going against the rules go hopefully, it will continue because, after all, crypto is worthy of being done by a country whose community is very large.
-
...But we know that crypto is not intervened and can do trade, etc. not through the government...
Back when crypto was completely banned, Indians could trade via p2p means but it had it's fair share of problems, I was scammed once too. From that perspective, it's good that ban was lifted and now exchanges are free to operate, at least people can exchange their fiat assets safely despite having to pay taxes.
Actually, taking action against the rules is clearly inappropriate even though there are facilities that can be done even though they are against the rules. But again, the risks and fraud like you said can happen with transactions like you said, because they are not supported by clear rules.
Be happy if the rules have started to be opened and allowed, because that is the best way that is very appropriate to do it rather than going against the rules go hopefully, it will continue because, after all, crypto is worthy of being done by a country whose community is very large.
It seems that the government in some countries has started receiving Bitcoin and Crypto, so we don't need to carry out the stitching that prohibits it. But trying to take advantage of the opportunity if the government in our country has begun to receive bitcoin as an investment. This is a good thing. Bitcoin and Altcoin will get good news if it can be accepted in all countries both as an investment and payment method, but we must wait until the government immediately makes rules about crypto.
-
It seems that the government in some countries has started receiving Bitcoin and Crypto, so we don't need to carry out the stitching that prohibits it. But trying to take advantage of the opportunity if the government in our country has begun to receive bitcoin as an investment. This is a good thing. Bitcoin and Altcoin will get good news if it can be accepted in all countries both as an investment and payment method, but we must wait until the government immediately makes rules about crypto.
Not all governments will take such a step. Many states will not be allowed to do so by economic realities. Not to mention creating acceptable legislation that would regulate, rather than limit and subject the cryptosphere and relations within it to total control. Yes, some states are interested, but these are the states that are turned to face the people, that are legal. The majority consider cryptocurrencies as a way to take even more taxes.
-
...But we know that crypto is not intervened and can do trade, etc. not through the government...
Back when crypto was completely banned, Indians could trade via p2p means but it had it's fair share of problems, I was scammed once too. From that perspective, it's good that ban was lifted and now exchanges are free to operate, at least people can exchange their fiat assets safely despite having to pay taxes.
Actually, taking action against the rules is clearly inappropriate even though there are facilities that can be done even though they are against the rules. But again, the risks and fraud like you said can happen with transactions like you said, because they are not supported by clear rules.
Be happy if the rules have started to be opened and allowed, because that is the best way that is very appropriate to do it rather than going against the rules go hopefully, it will continue because, after all, crypto is worthy of being done by a country whose community is very large.
It seems that the government in some countries has started receiving Bitcoin and Crypto, so we don't need to carry out the stitching that prohibits it. But trying to take advantage of the opportunity if the government in our country has begun to receive bitcoin as an investment. This is a good thing. Bitcoin and Altcoin will get good news if it can be accepted in all countries both as an investment and payment method, but we must wait until the government immediately makes rules about crypto.
Ha, payment method? Never happening. Do you really expect governments to give up fiat which they have control over and start using crypto on which they have no control whatsoever? It'll be just fine if they allow their people to trade in crypto and don't impose heavy taxes.
-
Do you really expect governments to give up fiat which they have control over and start using crypto on which they have no control whatsoever? It'll be just fine if they allow their people to trade in crypto and don't impose heavy taxes.
Governments will never reject such tool of control, as fiat money. Moreover, they will try their best to impose it and to make it even more restrictive. Because that is how they gain control and power over population. Crypto can be one of the payment tools but most likely not a fully legal one. And you always have to convert some part into fiat, because crypto is not adopted everywhere, so you have to address to traditional money.
-
Governments will never reject such tool of control, as fiat money. Moreover, they will try their best to impose it and to make it even more restrictive. Because that is how they gain control and power over population. Crypto can be one of the payment tools but most likely not a fully legal one. And you always have to convert some part into fiat, because crypto is not adopted everywhere, so you have to address to traditional money.
The best-case scenario is that governments will allow crypto to coexist with fiat as a means of payment, similar to in El Salvador. However, this also comes with many regulatory risks, so for now, I only hope that crypto will be recognized as a legitimate asset class for storage and trading.
As you said, governments will never abandon fiat, at least as far as I understand. Fiat is not only a means of payment under the government's control, but it is also an effective tool for governments to manage and intervene deeply in the economy when necessary, such as during a pandemic or rescuing companies that are too big to fail.
-
Cryptocurrency markets use decentralized technology, specifically blockchain, that keeps them free from central control or oversight. This is why crypto markets can operate without government permission. Again in this case the system is operated without any central counterparty. There are also many countries that have introduced laws and regulations to regulate trade.
However, many countries have imposed controls on these markets to ensure economic stability and security. These rules and regulations include various restrictions for corporate transparency, customer protection, and fraud prevention. The level of this regulation can vary in different countries, which affects the speed and use of cryptocurrencies.
-
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.
excellent The importance of your words is immense. You have arranged the words beautifully. Bitcoin is still illegal in different countries and when this Bitcoin is legalized then people will be able to use it safely in these countries where Bitcoin is legal in those countries today there is no need to face any kind of trouble to transact. The increase in Bitcoin transactions will likely lead to gains in many parts of the country and losses in large parts as many professional killers transact their money through Bitcoin. In this they are very comfortable and have less ricks.
-
Governments will never reject such tool of control, as fiat money. Moreover, they will try their best to impose it and to make it even more restrictive. Because that is how they gain control and power over population. Crypto can be one of the payment tools but most likely not a fully legal one. And you always have to convert some part into fiat, because crypto is not adopted everywhere, so you have to address to traditional money.
"The struggle for freedom is ultimately not resistance to autocrats or oligarchs but resistance to the despotism of public opinion."
Ludwig von Mises
Embracing Bitcoin's uniqueness will lead to innovation and maintaining individuality in a world that rewards conformity.
And Satoshi's goal from day one was mass adoption, a new system for the masses.
So don't be pessimistic, Bitcoin's uniqueness will soon touch politics and financial institutions.
-
It seems that the government in some countries has started receiving Bitcoin and Crypto, so we don't need to carry out the stitching that prohibits it. But trying to take advantage of the opportunity if the government in our country has begun to receive bitcoin as an investment. This is a good thing. Bitcoin and Altcoin will get good news if it can be accepted in all countries both as an investment and payment method, but we must wait until the government immediately makes rules about crypto.
The government of each country thinks differently due to which rules of every country are different from others so I think if Bitcoin and altcoins remain successful in future as they are now then a time is not far if every government will be ready to accept Bitcoin. Now due to illegal use of Bitcoin and its use in crimes does not allow all of the countries to accept Bitcoin therefore if good use enhances and bad use reduces then it is possible that Bitcoin will be legal for every individual throughout the world.
A person can only take advantage of the crypto investment if he works under the rules settled by the government because the government always thinks good about its citizens so one should take profit from Bitcoin and altcoins investment if the government permits its uses and the boundaries become eliminated.
-
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.
excellent The importance of your words is immense. You have arranged the words beautifully. Bitcoin is still illegal in different countries and when this Bitcoin is legalized then people will be able to use it safely in these countries where Bitcoin is legal in those countries today there is no need to face any kind of trouble to transact. The increase in Bitcoin transactions will likely lead to gains in many parts of the country and losses in large parts as many professional killers transact their money through Bitcoin. In this they are very comfortable and have less ricks.
There will always be pros and cons to every update that exists, and this is something natural. It is necessary to always adapt to the updates that occur, including bitcoin. You are right that there are still many countries that do not and have not fully accepted bitcoin, because maybe the regulations do not exist because the country should not be unable to protect its citizens from this bitcoin.
Agree, there are those who benefit from giving bitcoin, accepted and can contribute to state revenue, but not a few if there are no regulations, will be misused by a few people for money laundering from illegal transactions.
-
There will always be pros and cons to every update that exists, and this is something natural. It is necessary to always adapt to the updates that occur, including bitcoin. You are right that there are still many countries that do not and have not fully accepted bitcoin, because maybe the regulations do not exist because the country should not be unable to protect its citizens from this bitcoin.
Agree, there are those who benefit from giving bitcoin, accepted and can contribute to state revenue, but not a few if there are no regulations, will be misused by a few people for money laundering from illegal transactions.
I get what you are saying but money laundering? it is irrelevant, this is an old issue spread by crypto haters.
Bitcoin will get mass adoption when everyone else changes their mentality.
It's not will happen in the blink of an eye, but it will happen
Bitcoin is a great ideology and not impossible to get accomplished in real life but If we don't believe the slightest then yes, it will not happen but when the voice of the people gets stronger, the government has no choice but to accept it.
We must choose the right battles
-
Governments will never reject such tool of control, as fiat money. Moreover, they will try their best to impose it and to make it even more restrictive. Because that is how they gain control and power over population. Crypto can be one of the payment tools but most likely not a fully legal one. And you always have to convert some part into fiat, because crypto is not adopted everywhere, so you have to address to traditional money.
The best-case scenario is that governments will allow crypto to coexist with fiat as a means of payment, similar to in El Salvador. However, this also comes with many regulatory risks, so for now, I only hope that crypto will be recognized as a legitimate asset class for storage and trading.
As you said, governments will never abandon fiat, at least as far as I understand. Fiat is not only a means of payment under the government's control, but it is also an effective tool for governments to manage and intervene deeply in the economy when necessary, such as during a pandemic or rescuing companies that are too big to fail.
Of course, fiat is provided by the government, it is its brainchild. And it is clear that governments will not refuse it, because the entire economy of the country is tied to it. Personally, I do not think that cryptocurrency should become a means of payment on par with fiat. Cryptocurrency develops and flourishes due to its niche nature, because it does not duplicate the properties of fiat, but solves those problematic points that fiat is not able to close.
-
Governments will never reject such tool of control, as fiat money. Moreover, they will try their best to impose it and to make it even more restrictive. Because that is how they gain control and power over population. Crypto can be one of the payment tools but most likely not a fully legal one. And you always have to convert some part into fiat, because crypto is not adopted everywhere, so you have to address to traditional money.
The best-case scenario is that governments will allow crypto to coexist with fiat as a means of payment, similar to in El Salvador. However, this also comes with many regulatory risks, so for now, I only hope that crypto will be recognized as a legitimate asset class for storage and trading.
As you said, governments will never abandon fiat, at least as far as I understand. Fiat is not only a means of payment under the government's control, but it is also an effective tool for governments to manage and intervene deeply in the economy when necessary, such as during a pandemic or rescuing companies that are too big to fail.
Of course, fiat is provided by the government, it is its brainchild. And it is clear that governments will not refuse it, because the entire economy of the country is tied to it. Personally, I do not think that cryptocurrency should become a means of payment on par with fiat. Cryptocurrency develops and flourishes due to its niche nature, because it does not duplicate the properties of fiat, but solves those problematic points that fiat is not able to close.
It would be better, of course, for crypto to exist to be able to cover what fiat might not be able to do and vice versa, what fiat does. So it would be better to cover each other with each other's shortcomings that might not be able to be done.
I think what you said is right, that cryptocurrencies will never be the same as what fiat has done, Because fiat will be the main means of payment forever, although the development of crypto may be even wider.
Replacing the existence of fiat will certainly be difficult to do because fiat is the main currency in almost every sovereign country.
-
It would be better, of course, for crypto to exist to be able to cover what fiat might not be able to do and vice versa, what fiat does. So it would be better to cover each other with each other's shortcomings that might not be able to be done.
I think what you said is right, that cryptocurrencies will never be the same as what fiat has done, Because fiat will be the main means of payment forever, although the development of crypto may be even wider.
Replacing the existence of fiat will certainly be difficult to do because fiat is the main currency in almost every sovereign country.
But in fact, this is practically the case. Cryptocurrency definitely closes the problematic issues of fiat. And vice versa is also fair, because no matter how much we are crazy about cryptocurrencies, it is not a universal means of payment, and in any case, there is always in the end a need to exchange it for fiat. And the nominal value of cryptocurrency is determined one way or another through fiat, it is tied to it. Without fiat, cryptocurrency does not exist yet. And I think this is good, because we have a choice, an alternative. And not one solution to all problems.
-
It would be better, of course, for crypto to exist to be able to cover what fiat might not be able to do and vice versa, what fiat does. So it would be better to cover each other with each other's shortcomings that might not be able to be done.
I think what you said is right, that cryptocurrencies will never be the same as what fiat has done, Because fiat will be the main means of payment forever, although the development of crypto may be even wider.
Replacing the existence of fiat will certainly be difficult to do because fiat is the main currency in almost every sovereign country.
But in fact, this is practically the case. Cryptocurrency definitely closes the problematic issues of fiat. And vice versa is also fair, because no matter how much we are crazy about cryptocurrencies, it is not a universal means of payment, and in any case, there is always in the end a need to exchange it for fiat. And the nominal value of cryptocurrency is determined one way or another through fiat, it is tied to it. Without fiat, cryptocurrency does not exist yet. And I think this is good, because we have a choice, an alternative. And not one solution to all problems.
Agreed, With the circulation of Cryptocurrency we can see the development of technology is getting faster so that sending money becomes easier with fairly cheap transaction costs. We can see the cost of Bitcoin which is currently less than $ 1. So with this Cryptocurrency it is very beneficial for many countries and its users when they want to make transactions between countries. While when using fiat everything is very complicated and not as easy as imagined, Even the transaction costs are also very high.
-
Agreed, With the circulation of Cryptocurrency we can see the development of technology is getting faster so that sending money becomes easier with fairly cheap transaction costs. We can see the cost of Bitcoin which is currently less than $ 1. So with this Cryptocurrency it is very beneficial for many countries and its users when they want to make transactions between countries. While when using fiat everything is very complicated and not as easy as imagined, Even the transaction costs are also very high.
Transactions with crypto will make it easier for us, but crypto is not yet as popular as FIAT, which should be the duty of crypto lovers to always share about crypto in society. just knowledge about crypto, but that doesn't mean we invite them to invest in crypto because the risks are also big. By making cheap transactions in crypto, it makes it easier for us.
-
Agreed, With the circulation of Cryptocurrency we can see the development of technology is getting faster so that sending money becomes easier with fairly cheap transaction costs. We can see the cost of Bitcoin which is currently less than $ 1. So with this Cryptocurrency it is very beneficial for many countries and its users when they want to make transactions between countries. While when using fiat everything is very complicated and not as easy as imagined, Even the transaction costs are also very high.
Transactions with crypto will make it easier for us, but crypto is not yet as popular as FIAT, which should be the duty of crypto lovers to always share about crypto in society. just knowledge about crypto, but that doesn't mean we invite them to invest in crypto because the risks are also big. By making cheap transactions in crypto, it makes it easier for us.
Cryptocurrency for me is the best option for people who are looking for something to invest into that might possibly gave financial freedom which fiat is lacking. And you are correct people should atleast invest time to study the basics of crypto before jumping in so that things will go smoothly without having any issues.
-
Of course, fiat is provided by the government, it is its brainchild. And it is clear that governments will not refuse it, because the entire economy of the country is tied to it. Personally, I do not think that cryptocurrency should become a means of payment on par with fiat. Cryptocurrency develops and flourishes due to its niche nature, because it does not duplicate the properties of fiat, but solves those problematic points that fiat is not able to close.
I agree with almost everything you said. The problem for governments and the rich and powerful is that they feel threatened by cryptocurrencies and the freedoms they offer, that is why they can "offer a certain freedom of movement", but never equate it with fiat money. The most recent proof is the attacks and bans on mixers and services that offer more anonymity to users.
They "allow" us to use cryptocurrencies but as long as they are easily traceable. Maybe that's an exaggerated way of summarizing it, but that's the reality.
-
Cryptocurrency for me is the best option for people who are looking for something to invest into that might possibly gave financial freedom which fiat is lacking. And you are correct people should atleast invest time to study the basics of crypto before jumping in so that things will go smoothly without having any issues.
I agree with you, crypto is the best currency to invest in making us have potential freedom. Crypto technology will dominate in the future, many people predict it will happen. and for us we must be able to take advantage of the moment, buy and hold until the bullish season occurs to make a profit.
-
Of course, fiat is provided by the government, it is its brainchild. And it is clear that governments will not refuse it, because the entire economy of the country is tied to it. Personally, I do not think that cryptocurrency should become a means of payment on par with fiat. Cryptocurrency develops and flourishes due to its niche nature, because it does not duplicate the properties of fiat, but solves those problematic points that fiat is not able to close.
I agree with almost everything you said. The problem for governments and the rich and powerful is that they feel threatened by cryptocurrencies and the freedoms they offer, that is why they can "offer a certain freedom of movement", but never equate it with fiat money. The most recent proof is the attacks and bans on mixers and services that offer more anonymity to users.
They "allow" us to use cryptocurrencies but as long as they are easily traceable. Maybe that's an exaggerated way of summarizing it, but that's the reality.
I would only add here that this "tracking" condition of theirs has not yet been fully implemented. There are not enough resources to track cryptocurrencies, especially in countries with weak economies. Therefore, regulation and control are delayed horror stories that do not yet have much impact yet on the life of an ordinary crypto-lover. But this time should be used to prepare for the fact that in the future such control will undoubtedly be established.
-
I would only add here that this "tracking" condition of theirs has not yet been fully implemented. There are not enough resources to track cryptocurrencies, especially in countries with weak economies. Therefore, regulation and control are delayed horror stories that do not yet have much impact yet on the life of an ordinary crypto-lover. But this time should be used to prepare for the fact that in the future such control will undoubtedly be established.
It's a matter of time. And I agree with what you say, but in addition to countries with weak economies, they also have very marked impediments and limits with countries that are not “friends” in matters of foreign policy. Especially the United States, where they cannot close, for example, a website (of a mixer supposedly used by North Korean hackers) and many other examples. As time goes by, the resources you mention will undoubtedly expand to try to have greater control, but always leaving "normal" users who already know who they are and what they do.
-
I would only add here that this "tracking" condition of theirs has not yet been fully implemented. There are not enough resources to track cryptocurrencies, especially in countries with weak economies. Therefore, regulation and control are delayed horror stories that do not yet have much impact yet on the life of an ordinary crypto-lover. But this time should be used to prepare for the fact that in the future such control will undoubtedly be established.
It's a matter of time. And I agree with what you say, but in addition to countries with weak economies, they also have very marked impediments and limits with countries that are not “friends” in matters of foreign policy. Especially the United States, where they cannot close, for example, a website (of a mixer supposedly used by North Korean hackers) and many other examples. As time goes by, the resources you mention will undoubtedly expand to try to have greater control, but always leaving "normal" users who already know who they are and what they do.
Yes, in countries with a weak economy, in fact, there are many more opportunities than in developed countries. Because there are simply not enough resources to control all industries. And there are many "loopholes", gray areas in which spheres are developing that are not yet clearly outlined by law. However, just in parallel with the opportunities, this also carries huge risks, because the activity is not protected in any way and at any moment it can be attacked and taken away from the owner.
-
I agree with you, crypto is the best currency to invest in making us have potential freedom. Crypto technology will dominate in the future, many people predict it will happen. and for us we must be able to take advantage of the moment, buy and hold until the bullish season occurs to make a profit.
Crypto is giving us freedom because nobody can alter the price of its coins as it gets changed due to some news, events as well as demand and supply so if these things are positive then the worth will be higher but if these are negative then value will be going down.
Crypto is already dominated but some of the people are not a part of its investment because they cannot afford it or maybe they are living in that area where there is no access to the internet so one day the majority of people will invest in crypto and the time is not so far. Those who know about it are taking advantage of both bear and bull season and many have made good revenue from elevated costs in the past days or months.
-
Yes, in countries with a weak economy, in fact, there are many more opportunities than in developed countries. Because there are simply not enough resources to control all industries. And there are many "loopholes", gray areas in which spheres are developing that are not yet clearly outlined by law. However, just in parallel with the opportunities, this also carries huge risks, because the activity is not protected in any way and at any moment it can be attacked and taken away from the owner.
It is true, but we must keep in mind that in countries with developed economies not everything is as perfect as it seems. Legal support can be slow or a direct waste of time and resources, so they do not guarantee anything 100%. At the end of the day, the best “defenders” are ourselves when making investments. The rest can become a madness of bureaucracy, paperwork, lawyers and waste of time and money. I have always thought that with patience and knowledge about the industry we will always have less chance of making mistakes, but that doesn't work 100% logically either.
-
I would only add here that this "tracking" condition of theirs has not yet been fully implemented. There are not enough resources to track cryptocurrencies, especially in countries with weak economies. Therefore, regulation and control are delayed horror stories that do not yet have much impact yet on the life of an ordinary crypto-lover. But this time should be used to prepare for the fact that in the future such control will undoubtedly be established.
It's a matter of time. And I agree with what you say, but in addition to countries with weak economies, they also have very marked impediments and limits with countries that are not “friends” in matters of foreign policy. Especially the United States, where they cannot close, for example, a website (of a mixer supposedly used by North Korean hackers) and many other examples. As time goes by, the resources you mention will undoubtedly expand to try to have greater control, but always leaving "normal" users who already know who they are and what they do.
Yes, in countries with a weak economy, in fact, there are many more opportunities than in developed countries. Because there are simply not enough resources to control all industries. And there are many "loopholes", gray areas in which spheres are developing that are not yet clearly outlined by law. However, just in parallel with the opportunities, this also carries huge risks, because the activity is not protected in any way and at any moment it can be attacked and taken away from the owner.
It seems that not only countries with weak economies, sometimes developing countries are also often found, and it is not strange anymore, Where human resources are indeed very lacking and there will always be loopholes for something to be done that violates the rules and sometimes the state apparatus itself does that. Agree that, in the end, the protection that should be obtained is not necessarily fulfilled, so that at any time, as you said, it can be taken from its owner and cannot get protection.
-
It seems that not only countries with weak economies, sometimes developing countries are also often found, and it is not strange anymore, Where human resources are indeed very lacking and there will always be loopholes for something to be done that violates the rules and sometimes the state apparatus itself does that. Agree that, in the end, the protection that should be obtained is not necessarily fulfilled, so that at any time, as you said, it can be taken from its owner and cannot get protection.
I think it is a mistake to entrust our total protection as investors to the State, regardless of the country in which we live. The process is long, complicated and in most cases very expensive, in addition to differences between countries in regulations and protection against scams. It all depends on our knowledge and the luck we have, although according to science, luck does not exist.
-
It seems that not only countries with weak economies, sometimes developing countries are also often found, and it is not strange anymore, Where human resources are indeed very lacking and there will always be loopholes for something to be done that violates the rules and sometimes the state apparatus itself does that. Agree that, in the end, the protection that should be obtained is not necessarily fulfilled, so that at any time, as you said, it can be taken from its owner and cannot get protection.
I think it is a mistake to entrust our total protection as investors to the State, regardless of the country in which we live. The process is long, complicated and in most cases very expensive, in addition to differences between countries in regulations and protection against scams. It all depends on our knowledge and the luck we have, although according to science, luck does not exist.
true, we should not ask for full protection because the government is very bad with its policies,
the problem of luck is true, you said there is no philosophy, but everyone believes in the existence of luck in ourselves,
-
true, we should not ask for full protection because the government is very bad with its policies,
the problem of luck is true, you said there is no philosophy, but everyone believes in the existence of luck in ourselves,
I think this only happens in countries that haven't legalized crypto and investors are forced to protect themselves from hackers in the crypto market. We're heading towards the possibility of crypto being officially recognized and regulated by governments globally, which could boost the development of the entire crypto market.
With positive moves from the US, especially during the current election campaign, we can hope that crypto will become a new legal asset class in the world's largest economy, then trigger a wave of crypto adoption globally and open a new era in the crypto history.
-
true, we should not ask for full protection because the government is very bad with its policies,
the problem of luck is true, you said there is no philosophy, but everyone believes in the existence of luck in ourselves,
I think this only happens in countries that haven't legalized crypto and investors are forced to protect themselves from hackers in the crypto market. We're heading towards the possibility of crypto being officially recognized and regulated by governments globally, which could boost the development of the entire crypto market.
With positive moves from the US, especially during the current election campaign, we can hope that crypto will become a new legal asset class in the world's largest economy, then trigger a wave of crypto adoption globally and open a new era in the crypto history.
Hopefully Trump's promises during the election can be realized when he wins the election. For countries that have not yet legalized crypto, crypto investors must be careful in safeguarding and protecting their assets.
-
true, we should not ask for full protection because the government is very bad with its policies,
the problem of luck is true, you said there is no philosophy, but everyone believes in the existence of luck in ourselves,
I think this only happens in countries that haven't legalized crypto and investors are forced to protect themselves from hackers in the crypto market. We're heading towards the possibility of crypto being officially recognized and regulated by governments globally, which could boost the development of the entire crypto market.
With positive moves from the US, especially during the current election campaign, we can hope that crypto will become a new legal asset class in the world's largest economy, then trigger a wave of crypto adoption globally and open a new era in the crypto history.
Hopefully Trump's promises during the election can be realized when he wins the election. For countries that have not yet legalized crypto, crypto investors must be careful in safeguarding and protecting their assets.
There are a lot of nations that are in the gray area and so they won't be affected legally unless suddenly their government turn their backs on crypto and made a U-turn.
As for the election in the USA, Trump already made a head way that he will be supporting Bitcoin and the rest of the crypto. But so far according to some polls, Kamala Harris is leading and so we won't really know the state of crypto in the US unless Trump wins as we all know that Kamala and his political party are anti-crypto to say the least.
-
There are a lot of nations that are in the gray area and so they won't be affected legally unless suddenly their government turn their backs on crypto and made a U-turn.
As for the election in the USA, Trump already made a head way that he will be supporting Bitcoin and the rest of the crypto. But so far according to some polls, Kamala Harris is leading and so we won't really know the state of crypto in the US unless Trump wins as we all know that Kamala and his political party are anti-crypto to say the least.
If kamala harris wins while she is anti-crypto, then this will have an impact on crypto. but we have experienced several negative news and bitcoin was initially rejected in many countries, but bitcoin is still surviving until now. so let's just wait, if I hope Trump will win and have a positive impact on crypto because we know Trump is a supporter of bitcoin and crypto.
-
There are a lot of nations that are in the gray area and so they won't be affected legally unless suddenly their government turn their backs on crypto and made a U-turn.
As for the election in the USA, Trump already made a head way that he will be supporting Bitcoin and the rest of the crypto. But so far according to some polls, Kamala Harris is leading and so we won't really know the state of crypto in the US unless Trump wins as we all know that Kamala and his political party are anti-crypto to say the least.
If kamala harris wins while she is anti-crypto, then this will have an impact on crypto. but we have experienced several negative news and bitcoin was initially rejected in many countries, but bitcoin is still surviving until now. so let's just wait, if I hope Trump will win and have a positive impact on crypto because we know Trump is a supporter of bitcoin and crypto.
Exactly, the negative impact on cryptocurrency may be a price drop and what is worse is that Kamala Harris has the opportunity to review the acceptance of cryptocurrency in her country. Trump is likely to be the winner in the ongoing presidential election process. Trump has various policies that are strongly supported by the American people.
-
There are a lot of nations that are in the gray area and so they won't be affected legally unless suddenly their government turn their backs on crypto and made a U-turn.
As for the election in the USA, Trump already made a head way that he will be supporting Bitcoin and the rest of the crypto. But so far according to some polls, Kamala Harris is leading and so we won't really know the state of crypto in the US unless Trump wins as we all know that Kamala and his political party are anti-crypto to say the least.
If kamala harris wins while she is anti-crypto, then this will have an impact on crypto. but we have experienced several negative news and bitcoin was initially rejected in many countries, but bitcoin is still surviving until now. so let's just wait, if I hope Trump will win and have a positive impact on crypto because we know Trump is a supporter of bitcoin and crypto.
Exactly, the negative impact on cryptocurrency may be a price drop and what is worse is that Kamala Harris has the opportunity to review the acceptance of cryptocurrency in her country. Trump is likely to be the winner in the ongoing presidential election process. Trump has various policies that are strongly supported by the American people.
if I personally support Trump because he is a businessman and during his leadership of the US he avoided confrontation with other countries. Trump is one of the politicians who supports crypto, this will have a good impact on crypto if Trump wins this election. Hopefully many US citizens will support Trump and crypto. Let's see.
-
if I personally support Trump because he is a businessman and during his leadership of the US he avoided confrontation with other countries. Trump is one of the politicians who supports crypto, this will have a good impact on crypto if Trump wins this election. Hopefully many US citizens will support Trump and crypto. Let's see.
If Trump can actually realize his big plans for the US such as reserve BTC for the federal budget and make the US a crypto hub, it will be a big win for BTC and crypto in the world's largest economy. I was not wrong to always support Trump since the 2016 election, even though I am not a US citizen to vote for Trump.
The US crypto community will have the opportunity to change their financial future by electing a president and congress through this election. I hope they know what they are doing and make the best decision when voting for crypto-friendly congressmen.
-
If Trump can actually realize his big plans for the US such as reserve BTC for the federal budget and make the US a crypto hub, it will be a big win for BTC and crypto in the world's largest economy. I was not wrong to always support Trump since the 2016 election, even though I am not a US citizen to vote for Trump.
The US crypto community will have the opportunity to change their financial future by electing a president and congress through this election. I hope they know what they are doing and make the best decision when voting for crypto-friendly congressmen.
I agree with you about Trump crypto plans being exciting for US and for whole world. If he makes Bitcoin part of US budget and makes America center for crypto it would be big deal and help more people accept Bitcoin. You supported Trump since 2016 which shows you believe in his ideas. Now it is important for US crypto community to choose leaders who will make these ideas happen. Their choices can change the country financial future and more. Let's hope they make smart decisions that help crypto grow and improve.
-
I agree with you about Trump crypto plans being exciting for US and for whole world. If he makes Bitcoin part of US budget and makes America center for crypto it would be big deal and help more people accept Bitcoin. You supported Trump since 2016 which shows you believe in his ideas. Now it is important for US crypto community to choose leaders who will make these ideas happen. Their choices can change the country financial future and more. Let's hope they make smart decisions that help crypto grow and improve.
It's interesting that this election is happening simultaneously with the bullrun and we have both political and financial events to follow. I even believe that crypto will be one of the key factors determining the outcome of this election because millions of Americans are investing in crypto and they will choose someone who can protect the crypto market and their legitimate rights.
Currently, Harris is still very naive about finance and crypto. I don't think she can compete with Trump when it comes to inflation, federal debt, the FED, or BTC. Anyway, we will have the results by the end of this year to plan how to handle our crypto assets in this cycle. I hope that we will receive the most positive news for the fate of BTC and crypto in the US.
-
I believe that cryptocurrency is a best benefited digital currency in the world. So i think that crypto market is always trying to running in the worldwide. We know that some country were rejected in cryptocurrency, but another we can see that next time they can try to received it cordially. Example we know that trump made bitcoin, which including in US budget and it helps to more people for accept bitcoin. So i think without government permission can running it’s activities.
-
If Trump can actually realize his big plans for the US such as reserve BTC for the federal budget and make the US a crypto hub, it will be a big win for BTC and crypto in the world's largest economy. I was not wrong to always support Trump since the 2016 election, even though I am not a US citizen to vote for Trump.
The US crypto community will have the opportunity to change their financial future by electing a president and congress through this election. I hope they know what they are doing and make the best decision when voting for crypto-friendly congressmen.
I agree with you about Trump crypto plans being exciting for US and for whole world. If he makes Bitcoin part of US budget and makes America center for crypto it would be big deal and help more people accept Bitcoin. You supported Trump since 2016 which shows you believe in his ideas. Now it is important for US crypto community to choose leaders who will make these ideas happen. Their choices can change the country financial future and more. Let's hope they make smart decisions that help crypto grow and improve.
Vote for Trump to protect our crypto bags :) Trump is "good with" crypto
We need crypto adoption in the US and are tired of the constant FUD from the SEC.
But Trump has a big ego and at this point, he will pull all the tricks just so he wins.
As is RFK, and he’s a bit more trustworthy but I'm glad Trump understands what blockchain is.
Honestly, Trump has the best chance by far to beat Kamala.
-
if I personally support Trump because he is a businessman and during his leadership of the US he avoided confrontation with other countries. Trump is one of the politicians who supports crypto, this will have a good impact on crypto if Trump wins this election. Hopefully many US citizens will support Trump and crypto. Let's see.
If Trump can actually realize his big plans for the US such as reserve BTC for the federal budget and make the US a crypto hub, it will be a big win for BTC and crypto in the world's largest economy. I was not wrong to always support Trump since the 2016 election, even though I am not a US citizen to vote for Trump.
The US crypto community will have the opportunity to change their financial future by electing a president and congress through this election. I hope they know what they are doing and make the best decision when voting for crypto-friendly congressmen.
Only time will tell how things will go ;D Also, it was stated many times by many prominent figures (like Vitalik Buterin, for example) that it's not a good trend to go for politicians because they tell everybody that they are pro-crypto, so to speak.
` Against choosing your political allegiances based on who is "pro-crypto" `, the article was called.
-
Only time will tell how things will go ;D Also, it was stated many times by many prominent figures (like Vitalik Buterin, for example) that it's not a good trend to go for politicians because they tell everybody that they are pro-crypto, so to speak.
` Against choosing your political allegiances based on who is "pro-crypto" `, the article was called.
I agree with Vitalik's statement that supporting politicians is not a good trend, because politicians are already kept to their promises when they are elected. We should focus on our investment and not care about that. Trump and Kamala are fighting, they will definitely find a way to get support.
-
Only time will tell how things will go ;D Also, it was stated many times by many prominent figures (like Vitalik Buterin, for example) that it's not a good trend to go for politicians because they tell everybody that they are pro-crypto, so to speak.
` Against choosing your political allegiances based on who is "pro-crypto" `, the article was called.
I agree with Vitalik's statement that supporting politicians is not a good trend, because politicians are already kept to their promises when they are elected. We should focus on our investment and not care about that. Trump and Kamala are fighting, they will definitely find a way to get support.
Yep, it shouldn't be taken as the biggest factor, so to speak. Both in choosing the candidate and in our plans for the future regarding investments and trading.
-
I agree with Vitalik's statement that supporting politicians is not a good trend, because politicians are already kept to their promises when they are elected. We should focus on our investment and not care about that. Trump and Kamala are fighting, they will definitely find a way to get support.
I think that support from governments is necessary for crypto to thrive. The President of El Salvador has embraced BTC and we have seen their success. On the contrary, the Nigerian government has banned crypto and investors can only access crypto through inconvenient P2P.
In this election, crypto companies donated a lot of money and played a major role in the final result. At the same time, crypto investors tend to vote for people who will benefit them and I encourage this. We need the political power to elect a crypto-friendly government instead of anti-crypto lawmakers!
-
I agree with Vitalik's statement that supporting politicians is not a good trend, because politicians are already kept to their promises when they are elected. We should focus on our investment and not care about that. Trump and Kamala are fighting, they will definitely find a way to get support.
I think that support from governments is necessary for crypto to thrive. The President of El Salvador has embraced BTC and we have seen their success. On the contrary, the Nigerian government has banned crypto and investors can only access crypto through inconvenient P2P.
In this election, crypto companies donated a lot of money and played a major role in the final result. At the same time, crypto investors tend to vote for people who will benefit them and I encourage this. We need the political power to elect a crypto-friendly government instead of anti-crypto lawmakers!
I also agree that we should get government support in investing in crypto, because we need comfort and security. If the government makes rules and takes taxes from its support, I think that's a reasonable thing. El Salvador has allowed bitcoin and crypto as a payment method, but I can't understand why there are still governments that prohibit crypto like the one you mentioned in Nigeria.
-
Crypto’s resilience in countries like Nigeria and China really depicts how crypto can thrive despite government restrictions and issues. Which has made many governments to reconsider their stance and decisions, seeing potential benefits like taxes and job creation. But still, global adoption is likely, concerns over volatility and security make governments cautious. I believe crypto will coexist with fiat currency but then the acceptance of crypto will depend on stable regulations and a clear legal framework.
-
I agree with Vitalik's statement that supporting politicians is not a good trend, because politicians are already kept to their promises when they are elected. We should focus on our investment and not care about that. Trump and Kamala are fighting, they will definitely find a way to get support.
I think that support from governments is necessary for crypto to thrive. The President of El Salvador has embraced BTC and we have seen their success. On the contrary, the Nigerian government has banned crypto and investors can only access crypto through inconvenient P2P.
In this election, crypto companies donated a lot of money and played a major role in the final result. At the same time, crypto investors tend to vote for people who will benefit them and I encourage this. We need the political power to elect a crypto-friendly government instead of anti-crypto lawmakers!
I also agree that we should get government support in investing in crypto, because we need comfort and security. If the government makes rules and takes taxes from its support, I think that's a reasonable thing. El Salvador has allowed bitcoin and crypto as a payment method, but I can't understand why there are still governments that prohibit crypto like the one you mentioned in Nigeria.
It directly depends on what kind of government has been formed in the country. The governments of some countries are really interested in building a social, legal state. And then their involvement in regulating the cryptosphere really makes sense, because they are able to establish legitimate rules that will make the relationships in the cryptosphere more understandable and certain.
But if we are talking about countries where the government only thinks about how to steal more while they are in power, then regulating the cryptosphere will only lead to another activity, the taxes from which go into the pockets of those in power. This will not create any advantages for regular crypto activists.
-
Crypto’s resilience in countries like Nigeria and China really depicts how crypto can thrive despite government restrictions and issues. Which has made many governments to reconsider their stance and decisions, seeing potential benefits like taxes and job creation. But still, global adoption is likely, concerns over volatility and security make governments cautious. I believe crypto will coexist with fiat currency but then the acceptance of crypto will depend on stable regulations and a clear legal framework.
Yeah.
It will happen and be integrated eventually.
The question is how much effort and resilience the parties involved will have for that.
-
I also agree that we should get government support in investing in crypto, because we need comfort and security. If the government makes rules and takes taxes from its support, I think that's a reasonable thing. El Salvador has allowed bitcoin and crypto as a payment method, but I can't understand why there are still governments that prohibit crypto like the one you mentioned in Nigeria.
El Salvador can easily implement the BTC strategy for the country because it is a small country, they do not have their own fiat, and their president is progressive and understands BTC value for his country. Other countries do not have these conditions, they rely too much on fiat and are not willing to accept the threat from crypto.
People often tend to fear what they do not fully understand, which may be why many governments are cautious and take extreme measures to suppress crypto instead of accepting, managing, and taxing it to develop the country. After all, it is their choice, their actions will affect people choices for the government in the next term.
-
I also agree that we should get government support in investing in crypto, because we need comfort and security. If the government makes rules and takes taxes from its support, I think that's a reasonable thing. El Salvador has allowed bitcoin and crypto as a payment method, but I can't understand why there are still governments that prohibit crypto like the one you mentioned in Nigeria.
El Salvador can easily implement the BTC strategy for the country because it is a small country, they do not have their own fiat, and their president is progressive and understands BTC value for his country. Other countries do not have these conditions, they rely too much on fiat and are not willing to accept the threat from crypto.
People often tend to fear what they do not fully understand, which may be why many governments are cautious and take extreme measures to suppress crypto instead of accepting, managing, and taxing it to develop the country. After all, it is their choice, their actions will affect people choices for the government in the next term.
At the beginning of El Salvador legalizing bitcoin in their country, many people predicted that if El Salvador succeeded, it would affect the governments of other countries, but as we know, El Salvador is a small country. If bitcoin is implemented in a large country, will it not disrupt their FIAT and the country's economic conditions, because we know that the government will always guard their central bank to control inflation.
-
At the beginning of El Salvador legalizing bitcoin in their country, many people predicted that if El Salvador succeeded, it would affect the governments of other countries, but as we know, El Salvador is a small country. If bitcoin is implemented in a large country, will it not disrupt their FIAT and the country's economic conditions, because we know that the government will always guard their central bank to control inflation.
I think we can see the positive impacts of El Salvador BTC strategy: it has been successful and become a case study for many other governments to reference and have a more positive view of BTC and crypto. Some other South American countries could also learn from this strategy to deal with their out-of-control hyperinflation.
If we wait for BTC adoption in larger countries with larger economies, we could wait for Trump win and the implementation of his many plans to make the US a global crypto center. I believe that would be a big push to trigger a wave of BTC adoption worldwide as other governments would also experience FOMO and start accumulating BTC for their national budgets.
-
....
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 cryptocurrency is allowed to be traded and our country also has a native market supported by the government. Before it was in great demand by everyone, the market was calm and relaxed because there were no regulations given by the government but now that cryptocurrency is in great demand by everyone, the government has immediately stepped in and there are many regulations present, including KYC with various levels etc.
-
....
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 cryptocurrency is allowed to be traded and our country also has a native market supported by the government. Before it was in great demand by everyone, the market was calm and relaxed because there were no regulations given by the government but now that cryptocurrency is in great demand by everyone, the government has immediately stepped in and there are many regulations present, including KYC with various levels etc.
Interesting. Do you think the regulations will become more strict in your country or no?
-
in my country cryptocurrency is allowed to be traded and our country also has a native market supported by the government. Before it was in great demand by everyone, the market was calm and relaxed because there were no regulations given by the government but now that cryptocurrency is in great demand by everyone, the government has immediately stepped in and there are many regulations present, including KYC with various levels etc.
This is clearly a good sign when everyone can participate in crypto investing without facing the risk of being accused or prosecuted. I'm quite curious about the tax rate you have to pay when trading and profiting from crypto, hoping your government isn't too greedy ^^
Many investors like crypto to be in a gray area to avoid paying taxes on crypto income but regulation is necessary to legalize investing and more easily attract capital from the economy. This is a necessary condition for us to have crypto growth in each cycle, so that investors will have the opportunity to make profits in the bullrun instead of having to seek profits from shorting in the bearsleep!
-
Here in our country, we can trade freely on other exchanges, even though it is not yet regulated by our government. Except for binance, which has been given a restriction. Although many of us crypto believers have regretted the step taken by our government here.
But in other top exchanges like Kucoin, Bybit, bitget, x.com, gate.io, and others, we can use it at the moment. Maybe this is also one of the reasons why our government is still grateful because they don't pay much attention to the aforementioned exchanges.
-
But in other top exchanges like Kucoin, Bybit, bitget, x.com, gate.io, and others, we can use it at the moment. Maybe this is also one of the reasons why our government is still grateful because they don't pay much attention to the aforementioned exchanges.
Sorry, X.com is not an exchange... it's a twitter that has been rebranded by Elon Musk...
For bybit and binance, as of today I found that both of these websites are not blocked from my country.. so I can create an account there through the mobile application directly. However, for the website version, both of these top exchanges are blocked from my country, so to access them we have to use a VPN to get around government restrictions.
-
in my country cryptocurrency is allowed to be traded and our country also has a native market supported by the government. Before it was in great demand by everyone, the market was calm and relaxed because there were no regulations given by the government but now that cryptocurrency is in great demand by everyone, the government has immediately stepped in and there are many regulations present, including KYC with various levels etc.
This is clearly a good sign when everyone can participate in crypto investing without facing the risk of being accused or prosecuted. I'm quite curious about the tax rate you have to pay when trading and profiting from crypto, hoping your government isn't too greedy ^^
Many investors like crypto to be in a gray area to avoid paying taxes on crypto income but regulation is necessary to legalize investing and more easily attract capital from the economy. This is a necessary condition for us to have crypto growth in each cycle, so that investors will have the opportunity to make profits in the bullrun instead of having to seek profits from shorting in the bearsleep!
It seems like the government takes tax from our crypto transactions when we convert our crypto assets to FIAT, this will be state revenue. and hopefully not greedy, but so far I see in my country only taking a small amount of crypto transaction tax, and this is something that makes us feel safe because the government can already accept crypto, because in some other countries it may still be prohibited.
-
It seems like the government takes tax from our crypto transactions when we convert our crypto assets to FIAT, this will be state revenue. and hopefully not greedy, but so far I see in my country only taking a small amount of crypto transaction tax, and this is something that makes us feel safe because the government can already accept crypto, because in some other countries it may still be prohibited.
Government doesn't only take the taxes when we convert our coins to fiats. But government can take the taxes in each transaction in our local exchanges. I think the local exchanges cooperate together with government. It seems the government a bit greedy because they take too much taxes, it is not good for traders because spending too much fees in trading. That's why I prefer to trade in global exchanges where it is not regulated by any government. Once the government regulates the system, they begin too greedy in taking the taxes.
-
It seems like the government takes tax from our crypto transactions when we convert our crypto assets to FIAT, this will be state revenue. and hopefully not greedy, but so far I see in my country only taking a small amount of crypto transaction tax, and this is something that makes us feel safe because the government can already accept crypto, because in some other countries it may still be prohibited.
Government doesn't only take the taxes when we convert our coins to fiats. But government can take the taxes in each transaction in our local exchanges. I think the local exchanges cooperate together with government. It seems the government a bit greedy because they take too much taxes, it is not good for traders because spending too much fees in trading. That's why I prefer to trade in global exchanges where it is not regulated by any government. Once the government regulates the system, they begin too greedy in taking the taxes.
That's true. In India, government takes 1% TDS (Tax Deducted at Source) on trades. Here is helpful article, if you want to learn more about it: https://coindcx.com/blog/cryptocurrency/one-percent-tds-on-crypto/
And this is also reason, why majority of Indian crypto traders prefer to trade on overseas exchanges such as Binance, Gate, KuCoin, etc — at least for crypto-crypto trades, sometimes they use local exchanges for fiat trades because of scamsters in P2P systems available on global exchanges.
-
It seems like the government takes tax from our crypto transactions when we convert our crypto assets to FIAT, this will be state revenue. and hopefully not greedy, but so far I see in my country only taking a small amount of crypto transaction tax, and this is something that makes us feel safe because the government can already accept crypto, because in some other countries it may still be prohibited.
Yes, government takes the tax whenever we convert our assets into fiats. We know the tax probably increases because the government will be always greedy. In my country, the government is trying to take the tax optimally in crypto transaction. I think it won't be good if the tax looks quite big. But it is much better than the government prohibits any crypto transaction. I know there are some countries that the government never allow people to have crypto. ;D
-
It seems like the government takes tax from our crypto transactions when we convert our crypto assets to FIAT, this will be state revenue. and hopefully not greedy, but so far I see in my country only taking a small amount of crypto transaction tax, and this is something that makes us feel safe because the government can already accept crypto, because in some other countries it may still be prohibited.
Government doesn't only take the taxes when we convert our coins to fiats. But government can take the taxes in each transaction in our local exchanges. I think the local exchanges cooperate together with government. It seems the government a bit greedy because they take too much taxes, it is not good for traders because spending too much fees in trading. That's why I prefer to trade in global exchanges where it is not regulated by any government. Once the government regulates the system, they begin too greedy in taking the taxes.
I also prefer to transact on global exchanges, because as you said the government is too greedy in taking taxes from our transactions. Of course the local exchange will work with the government for that and we also have to take the positive side in countries that have received permission from the government we can transact with crypto, this is something positive and must be grateful for because there are still countries that prohibit their citizens from investing in crypto.
-
It seems like the government takes tax from our crypto transactions when we convert our crypto assets to FIAT, this will be state revenue. and hopefully not greedy, but so far I see in my country only taking a small amount of crypto transaction tax, and this is something that makes us feel safe because the government can already accept crypto, because in some other countries it may still be prohibited.
Government doesn't only take the taxes when we convert our coins to fiats. But government can take the taxes in each transaction in our local exchanges. I think the local exchanges cooperate together with government. It seems the government a bit greedy because they take too much taxes, it is not good for traders because spending too much fees in trading. That's why I prefer to trade in global exchanges where it is not regulated by any government. Once the government regulates the system, they begin too greedy in taking the taxes.
I also prefer to transact on global exchanges, because as you said the government is too greedy in taking taxes from our transactions. Of course the local exchange will work with the government for that and we also have to take the positive side in countries that have received permission from the government we can transact with crypto, this is something positive and must be grateful for because there are still countries that prohibit their citizens from investing in crypto.
Although local exchange taxes are heavy, we must accept that cryptocurrency has the benefit of being legally recognised within this country. What we invest and transact will be safer and free from legal issues with clear regulations. Local exchanges, in addition to global exchanges, provide an important consideration regarding transaction security and clarity. In addition, in a number of countries, crypto remains illegal, so we are fortunate to have more open access to investing in or transacting Cryptocurrency assets in several markets.
-
I also prefer to transact on global exchanges, because as you said the government is too greedy in taking taxes from our transactions. Of course the local exchange will work with the government for that and we also have to take the positive side in countries that have received permission from the government we can transact with crypto, this is something positive and must be grateful for because there are still countries that prohibit their citizens from investing in crypto.
I think in the future, international CEXs will also have to pay taxes to governments in order to operate, and investors may have to pay higher transaction fees. This is completely normal because Google and Facebook are also paying taxes to the countries they reach. We have to accept this as crypto becomes more popular and legal globally.
CEXs under government regulation is also a solution to collect taxes and transaction fees for the budget, but it often has liquidity issues because it's difficult to reach users from other countries. I'm willing to use Binance Global rather than a CEX from China or North Korea ^^
-
Although local exchange taxes are heavy, we must accept that cryptocurrency has the benefit of being legally recognised within this country. What we invest and transact will be safer and free from legal issues with clear regulations. Local exchanges, in addition to global exchanges, provide an important consideration regarding transaction security and clarity. In addition, in a number of countries, crypto remains illegal, so we are fortunate to have more open access to investing in or transacting Cryptocurrency assets in several markets.
Most often when crypto is regulated, the government do it to favour their own side and they don't give priority to the other side of crypto which is why many people are against it any time they try to regulate it. If crypto is regulated, scammers that use centralized exchanges to scam people can be easily track but the disadvantage of this is that government are very manipulative, they will use it to their own advantage to censor people.
If you look at some of the countries that have been trying to regulate cryptocurrency, they are been careful about the whole thing because they are generating revenue from it and they know quite well that if they regulate any how, they will lose the revenue they are generating, if not for the tax they make from crypto, I'm sure they wouldn't be talking about regulations but ban of cryptocurrency.
-
Most often when crypto is regulated, the government do it to favour their own side and they don't give priority to the other side of crypto which is why many people are against it any time they try to regulate it. If crypto is regulated, scammers that use centralized exchanges to scam people can be easily track but the disadvantage of this is that government are very manipulative, they will use it to their own advantage to censor people.
If you look at some of the countries that have been trying to regulate cryptocurrency, they are been careful about the whole thing because they are generating revenue from it and they know quite well that if they regulate any how, they will lose the revenue they are generating, if not for the tax they make from crypto, I'm sure they wouldn't be talking about regulations but ban of cryptocurrency.
I believe we can strike a balance between government regulation and investor protection. Currently, CEXs are already willing to provide user data to law enforcement agencies upon court order. This is unlikely to change if governments adopt stricter regulations for this market.
The same logic applies to government decisions: adopting crypto could benefit national budgets through taxation but also poses risks to fiat currency values and capital flows in other major markets like equities and real estate. This is likely why most nations are maintaining a cautious stance and avoiding taking a definitive position on crypto.
-
Government now interfere in crypto due to they want tax collection from it that's it and it's hurt to many investors and traders due to unfair Tax slab on crypto transaction as per my view.
We need platform like no any boundaries and no need to pay tax so crypto market can alive bullish.
-
Government now interfere in crypto due to they want tax collection from it that's it and it's hurt to many investors and traders due to unfair Tax slab on crypto transaction as per my view.
We need platform like no any boundaries and no need to pay tax so crypto market can alive bullish.
Governments want a slice of it too, or to control it to some degree.
I do think it's natural, however, it does mean that the crypto market should be balanced, as MrSpasybo said.
Of course, many can brag about it, but it essentially is in that state on CEXes. The better situation is on DEXes I imagine, but they are not as convenient and reliable for now for most of the traders.
-
Most often when crypto is regulated, the government do it to favour their own side and they don't give priority to the other side of crypto which is why many people are against it any time they try to regulate it. If crypto is regulated, scammers that use centralized exchanges to scam people can be easily track but the disadvantage of this is that government are very manipulative, they will use it to their own advantage to censor people.
If you look at some of the countries that have been trying to regulate cryptocurrency, they are been careful about the whole thing because they are generating revenue from it and they know quite well that if they regulate any how, they will lose the revenue they are generating, if not for the tax they make from crypto, I'm sure they wouldn't be talking about regulations but ban of cryptocurrency.
I believe we can strike a balance between government regulation and investor protection. Currently, CEXs are already willing to provide user data to law enforcement agencies upon court order. This is unlikely to change if governments adopt stricter regulations for this market.
The same logic applies to government decisions: adopting crypto could benefit national budgets through taxation but also poses risks to fiat currency values and capital flows in other major markets like equities and real estate. This is likely why most nations are maintaining a cautious stance and avoiding taking a definitive position on crypto.
If CEX has cooperated with the government by sharing user data which is something that might be positive for those who only invest and trade. But for those who like the anonymous world, they will feel disadvantaged by this case. Because we know crypto is a semi -anonymous, but we as citizens must comply with the rules of the country. And the government can get success by taking taxes from our transactions at CEX.
-
Government now interfere in crypto due to they want tax collection from it that's it and it's hurt to many investors and traders due to unfair Tax slab on crypto transaction as per my view.
We need platform like no any boundaries and no need to pay tax so crypto market can alive bullish.
Taxes cannot be avoided if the government has made the rules because they have full power in all of this,
what can we do, we are just a society that is required to follow the rules in one country
if it is possible to exchange without government interference, I think the exchange will not last long, there will be obstacles
-
If CEX has cooperated with the government by sharing user data which is something that might be positive for those who only invest and trade. But for those who like the anonymous world, they will feel disadvantaged by this case. Because we know crypto is a semi -anonymous, but we as citizens must comply with the rules of the country. And the government can get success by taking taxes from our transactions at CEX.
I think it will be bad if CEX share the user data with government. It means it is unsafe to do KYC in CEX. I think CEX won't do this, they only will share the data that has nothing to do with user private data. Well, it is actually not recommended to do KYC at CEX because this bad thing can happen. Using DEX looks more secure if we consider this bad side of CEX.
-
I think it will be bad if CEX share the user data with government. It means it is unsafe to do KYC in CEX. I think CEX won't do this, they only will share the data that has nothing to do with user private data. Well, it is actually not recommended to do KYC at CEX because this bad thing can happen. Using DEX looks more secure if we consider this bad side of CEX.
Do you think KYC is dangerous? Does it threaten your life and potentially put you in danger? I think there are also people like Elon Musk who don't mind his personal data as a resident born in South Africa... it means everyone has their own considerations, what risks they can bear when submitting their personal data to others... if it's just data that is already known to some people around us, it's not a big problem.. as long as it doesn't risk too much of our valuable things there.
-
Government now interfere in crypto due to they want tax collection from it that's it and it's hurt to many investors and traders due to unfair Tax slab on crypto transaction as per my view.
We need platform like no any boundaries and no need to pay tax so crypto market can alive bullish.
Taxes cannot be avoided if the government has made the rules because they have full power in all of this,
what can we do, we are just a society that is required to follow the rules in one country
if it is possible to exchange without government interference, I think the exchange will not last long, there will be obstacles
Where crypto is not legalized taxes will not be relevant. It is demanded after crypto is legalized in a country I think it should not be ignored. If the government does not benefit, then the government cannot play a role in the development of that country. The government will not be motivated to provide services to the people. Of course I am in favor of taxation but the TAX must be at the logical level. If additional tax is leveled then common people will not be encouraged to pay for tax and also there will be a big hurdle in the transition of this industry.
-
Government now interfere in crypto due to they want tax collection from it that's it and it's hurt to many investors and traders due to unfair Tax slab on crypto transaction as per my view.
We need platform like no any boundaries and no need to pay tax so crypto market can alive bullish.
Taxes cannot be avoided if the government has made the rules because they have full power in all of this,
what can we do, we are just a society that is required to follow the rules in one country
if it is possible to exchange without government interference, I think the exchange will not last long, there will be obstacles
Where crypto is not legalized taxes will not be relevant. It is demanded after crypto is legalized in a country I think it should not be ignored. If the government does not benefit, then the government cannot play a role in the development of that country. The government will not be motivated to provide services to the people. Of course I am in favor of taxation but the TAX must be at the logical level. If additional tax is leveled then common people will not be encouraged to pay for tax and also there will be a big hurdle in the transition of this industry.
I agree if taxes are imposed on crypto investors who make transactions, but taxes that are reasonable and do not burden us as crypto lovers. That is compensation for the government legalizing crypto and we become safer because crypto is already legal and not something that is prohibited in our country.
-
That's true. In India, government takes 1% TDS (Tax Deducted at Source) on trades. Here is helpful article, if you want to learn more about it: https://coindcx.com/blog/cryptocurrency/one-percent-tds-on-crypto/.
And this is also reason, why majority of Indian crypto traders prefer to trade on overseas exchanges such as Binance, Gate, KuCoin, etc — at least for crypto-crypto trades, sometimes they use local exchanges for fiat trades because of scamsters in P2P systems available on global exchanges.
1% is quite a lot, I'm surprised that Indian government takes 1% in each crypto transaction in exchanges. If you have many CEXs, your government will get huge money from crypto industry. In my country, it is only around 0,22% and I think it is still reasonable. We must lodge a protest if it can reach $1%.
I also prefer to transact on global exchanges, because as you said the government is too greedy in taking taxes from our transactions. Of course the local exchange will work with the government for that and we also have to take the positive side in countries that have received permission from the government we can transact with crypto, this is something positive and must be grateful for because there are still countries that prohibit their citizens from investing in crypto.
Yep. If we are trader, we can choose global exchange. I prefer to choose Binance because it is free to send crypto from Binance to Tokocrypto. This is a solution to deal with the high taxes from the government. We trade on the global exchange, then we can withdraw it to our local exchanges.
-
That's true. In India, government takes 1% TDS (Tax Deducted at Source) on trades. Here is helpful article, if you want to learn more about it: https://coindcx.com/blog/cryptocurrency/one-percent-tds-on-crypto/.
And this is also reason, why majority of Indian crypto traders prefer to trade on overseas exchanges such as Binance, Gate, KuCoin, etc — at least for crypto-crypto trades, sometimes they use local exchanges for fiat trades because of scamsters in P2P systems available on global exchanges.
1% is quite a lot, I'm surprised that Indian government takes 1% in each crypto transaction in exchanges. If you have many CEXs, your government will get huge money from crypto industry. In my country, it is only around 0,22% and I think it is still reasonable. We must lodge a protest if it can reach $1%.
Tbh, I'm still ok with 1% TDS, but there is 30% more tax on crypto earnings, which makes people hesitant to convert their crypto to inr in first place, as no one want to pay huge tax.
-
Government now interfere in crypto due to they want tax collection from it that's it and it's hurt to many investors and traders due to unfair Tax slab on crypto transaction as per my view.
We need platform like no any boundaries and no need to pay tax so crypto market can alive bullish.
Taxes cannot be avoided if the government has made the rules because they have full power in all of this,
what can we do, we are just a society that is required to follow the rules in one country
if it is possible to exchange without government interference, I think the exchange will not last long, there will be obstacles
Where crypto is not legalized taxes will not be relevant. It is demanded after crypto is legalized in a country I think it should not be ignored. If the government does not benefit, then the government cannot play a role in the development of that country. The government will not be motivated to provide services to the people. Of course I am in favor of taxation but the TAX must be at the logical level. If additional tax is leveled then common people will not be encouraged to pay for tax and also there will be a big hurdle in the transition of this industry.
I agree if taxes are imposed on crypto investors who make transactions, but taxes that are reasonable and do not burden us as crypto lovers. That is compensation for the government legalizing crypto and we become safer because crypto is already legal and not something that is prohibited in our country.
Adoption of taxation with regards to cryptocurrency leads to their transactions does not necessarily have be a vice for a country’s economy especially if applied correctly without bias. When regulation is good, then the surrounding will be secure and reliable for the investors as well as the other players within the industry. This also assists the government to benefit from the prospective new revenues within this sector for development ad welfare.
But it should be done in a manner that does not put a dent in the future development of the cryptocurrency related services. Where this is true, high information acquisition and processing costs imply that firms can be discouraged from investing or that investors will likely seek other, higher return, investments or even avoid regulation. Hence the need to develop a balance between need for taxes and striving to provide an environment that fosters financial technology innovation.
-
Adoption of taxation with regards to cryptocurrency leads to their transactions does not necessarily have be a vice for a country’s economy especially if applied correctly without bias. When regulation is good, then the surrounding will be secure and reliable for the investors as well as the other players within the industry. This also assists the government to benefit from the prospective new revenues within this sector for development ad welfare.
But it should be done in a manner that does not put a dent in the future development of the cryptocurrency related services. Where this is true, high information acquisition and processing costs imply that firms can be discouraged from investing or that investors will likely seek other, higher return, investments or even avoid regulation. Hence the need to develop a balance between need for taxes and striving to provide an environment that fosters financial technology innovation.
Yes, taxes are collected to fund public services, but it would be better if a portion of crypto taxes were used to further develop this market through positive and reasonable regulations. If this were done, everyone would be happy to pay taxes to protect themselves in this market.
Sadly, many governments are too lazy to learn about crypto, so they ban it to avoid facing a financial risk they don't understand. Sometimes they also accept crypto and impose excessively high taxes as a way to limit its growth. I oppose both approaches. We should have a government that understands crypto well before proposing any legal framework for our market.
-
~snip~
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 still open to crypto and everything that is caused by crypto, such as profits and losses, is borne by the person who joins crypto, but trade taxes must still go to the government because it is from the government that taxes are ultimately distributed to the community.
The characteristic in our country is that it is very DWYOR to those who join crypto. I can also attend this altcoinstalks because I am sure that the local government does not prohibit the circulation of crypto but all the effects of this crypto are borne by me myself. While I myself do like crypto as a digital asset whose price can be very expensive or change to cheap at any time.
-
~snip~
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 still open to crypto and everything that is caused by crypto, such as profits and losses, is borne by the person who joins crypto, but trade taxes must still go to the government because it is from the government that taxes are ultimately distributed to the community.
The characteristic in our country is that it is very DWYOR to those who join crypto. I can also attend this altcoinstalks because I am sure that the local government does not prohibit the circulation of crypto but all the effects of this crypto are borne by me myself. While I myself do like crypto as a digital asset whose price can be very expensive or change to cheap at any time.
My government also allows crypto which makes me comfortable to invest in crypto and I don't mind if we as crypto users are taxed because it is state revenue that will later be used for the development of our country. There may still be some countries that prohibit crypto, but it is likely that in the future the government in that country will allow it, it's just a matter of time.
-
My country used to strictly prohibit the circulation of cryptocurrency so that many people gave statements to us as criminals or scammers because cryptocurrency is identical to fraud.
Until now, I still keep quiet and do not give any information to friends in the real world about cryptocurrency because I am so afraid of being labeled as a fraud in the digital world. Even though cryptocurrency is now allowed to be traded, I still keep quiet to be more private and hide from everyone.
-
~snip~
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 still open to crypto and everything that is caused by crypto, such as profits and losses, is borne by the person who joins crypto, but trade taxes must still go to the government because it is from the government that taxes are ultimately distributed to the community.
The characteristic in our country is that it is very DWYOR to those who join crypto. I can also attend this altcoinstalks because I am sure that the local government does not prohibit the circulation of crypto but all the effects of this crypto are borne by me myself. While I myself do like crypto as a digital asset whose price can be very expensive or change to cheap at any time.
~snip~
There may still be some countries that prohibit crypto, but it is likely that in the future the government in that country will allow it, it's just a matter of time.
But it's not just a matter of time because I pay attention to crypto regulations in the country. Time can also be taken into account because no human person is able to stop time. Crypto in a country that is prohibited now must have many factors, maybe among them is the incompleteness of the government if something that happens to its users ended later the government itself is blamed. Like a word like this Crypto is Boomerang in a country that prohibits crypto.
-
~snip~
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 still open to crypto and everything that is caused by crypto, such as profits and losses, is borne by the person who joins crypto, but trade taxes must still go to the government because it is from the government that taxes are ultimately distributed to the community.
The characteristic in our country is that it is very DWYOR to those who join crypto. I can also attend this altcoinstalks because I am sure that the local government does not prohibit the circulation of crypto but all the effects of this crypto are borne by me myself. While I myself do like crypto as a digital asset whose price can be very expensive or change to cheap at any time.
~snip~
There may still be some countries that prohibit crypto, but it is likely that in the future the government in that country will allow it, it's just a matter of time.
But it's not just a matter of time because I pay attention to crypto regulations in the country. Time can also be taken into account because no human person is able to stop time. Crypto in a country that is prohibited now must have many factors, maybe among them is the incompleteness of the government if something that happens to its users ended later the government itself is blamed. Like a word like this Crypto is Boomerang in a country that prohibits crypto.
Indeed, regulatory measures applied to decentralized coins in different countries can be considered as one of the parameters affecting the implementation and growth of this industry. If a country decides to ban crypto, then the government might not wish to deal with emerging issues that tend to occur like security, fraud or market fluctuations. They may be afraid that in case of some substantial issue happens, the public will turn to the government to seek justice. Therefore, Wei crypto can be best described as a boomerang that might come back to ‘bite’ if not well ‘handled’. Besides, it is also important to notice that with the time and constant development of cryptocurrencies, the problem of regulations in many countries stays one of the largest challenges for this industry.
-
But it's not just a matter of time because I pay attention to crypto regulations in the country. Time can also be taken into account because no human person is able to stop time. Crypto in a country that is prohibited now must have many factors, maybe among them is the incompleteness of the government if something that happens to its users ended later the government itself is blamed. Like a word like this Crypto is Boomerang in a country that prohibits crypto.
Yeah, much of the time is needed for different govs see different pros of the crypto, mostly because they want to regulate something that is decentralized at its core.
But I do hope for every country to rethink its stance on it if it's negative.
-
But it's not just a matter of time because I pay attention to crypto regulations in the country. Time can also be taken into account because no human person is able to stop time. Crypto in a country that is prohibited now must have many factors, maybe among them is the incompleteness of the government if something that happens to its users ended later the government itself is blamed. Like a word like this Crypto is Boomerang in a country that prohibits crypto.
~snip~
But I do hope for every country to rethink its stance on it if it's negative.
In that country there must be many rules that apply, just like in crypto too. If crypto is adopted in a country then there will definitely be many rules imposed by the country on the presence of crypto. Moreover, as far as I know, crypto is very vulnerable to hacking and the country also does not want to lose when one day the country's assets in the form of crypto are hacked by irresponsible people and finally the country's assets are minus or disappear.
-
Yeah, much of the time is needed for different govs see different pros of the crypto, mostly because they want to regulate something that is decentralized at its core.
But I do hope for every country to rethink its stance on it if it's negative.
The only time I see the government not seeing it as a threat is when someone with deep knowledge of crypto and also a crypto ethuthiast gets into power that’s when he can start making decisions that will favour crypto.
But for now all we have are those who have chose to believe that crypto will cause harm to those in power if allowed to stand and they have taken it deep into their hearts that they don’t even bother to see recent developments.
-
My country used to strictly prohibit the circulation of cryptocurrency so that many people gave statements to us as criminals or scammers because cryptocurrency is identical to fraud.
Until now, I still keep quiet and do not give any information to friends in the real world about cryptocurrency because I am so afraid of being labeled as a fraud in the digital world. Even though cryptocurrency is now allowed to be traded, I still keep quiet to be more private and hide from everyone.
This shows that they still lack the crypto knowledge in your environment. It’s happening everywhere that there is no sufficient knowledge of cryptocurrency. That is what they think everybody who is into crypto will label that person as a scammer, or maybe someone who has been scammed through the crypto space will also see crypto as a scam, and people will find it very hard to know about bitcoin in places where they think cryptocurrency is a scam because even the few people who know about it and have the knowledge will be afraid of telling them about it just the way you are doing now.
You don’t want to tell anyone because of the fear of your government and also the kind of eye that society will be watching you with. I can tell you are so lucky to be aware of the crypto world, and coming from such environments where they can’t differentiate crypto and scam is really hard.
-
Yeah, much of the time is needed for different govs see different pros of the crypto, mostly because they want to regulate something that is decentralized at its core.
But I do hope for every country to rethink its stance on it if it's negative.
The only time I see the government not seeing it as a threat is when someone with deep knowledge of crypto and also a crypto ethuthiast gets into power that’s when he can start making decisions that will favour crypto.
But for now all we have are those who have chose to believe that crypto will cause harm to those in power if allowed to stand and they have taken it deep into their hearts that they don’t even bother to see recent developments.
I think there are actually many government officials who have bought and stored their wealth in crypto, although this is not exposed by the media. And the government should not ban crypto, but only make rules so that it is not misused, for example sharing information with local exchanges.
-
I think there are actually many government officials who have bought and stored their wealth in crypto, although this is not exposed by the media.
Even if bitcoin or crypto becomes accepted by the government those in power still won’t disclose their holding in crypto, so it’s not really because it’s not accepted or anything that makes them buy and keep in secret it’s sometimes because they don’t want people to know incase anything happens to them and their properties are confiscated they can still have something to fall back to. It’s mostly used as a back up plan.
-
I think there are actually many government officials who have bought and stored their wealth in crypto, although this is not exposed by the media.
Even if bitcoin or crypto becomes accepted by the government those in power still won’t disclose their holding in crypto, so it’s not really because it’s not accepted or anything that makes them buy and keep in secret it’s sometimes because they don’t want people to know incase anything happens to them and their properties are confiscated they can still have something to fall back to. It’s mostly used as a back up plan.
I also agree with your opinion, it is possible that government officials also invest in bitcoin and altcoin but they keep it secret. Whether it is clean money or not. But the suspicion towards that direction is there and makes sense.
-
I think there are actually many government officials who have bought and stored their wealth in crypto, although this is not exposed by the media.
Even if bitcoin or crypto becomes accepted by the government those in power still won’t disclose their holding in crypto, so it’s not really because it’s not accepted or anything that makes them buy and keep in secret it’s sometimes because they don’t want people to know incase anything happens to them and their properties are confiscated they can still have something to fall back to. It’s mostly used as a back up plan.
I also agree with your opinion, it is possible that government officials also invest in bitcoin and altcoin but they keep it secret. Whether it is clean money or not. But the suspicion towards that direction is there and makes sense.
Although the government officials may have some degree of share or involvement in Bitcoin or altcoins, not all the officials will do it, or act illicite. I think that majority of officials do not cheat and disclose the financial statements of their organizations, and if is obligatory will report about crypto assets. Besides, one cannot say that all officials who bought cryptocurrency use dirty money. Allegations of this nature are risky in that they discuss reputations most especially when baseless information is placed on the public domain.
-
I think there are actually many government officials who have bought and stored their wealth in crypto, although this is not exposed by the media.
Even if bitcoin or crypto becomes accepted by the government those in power still won’t disclose their holding in crypto, so it’s not really because it’s not accepted or anything that makes them buy and keep in secret it’s sometimes because they don’t want people to know incase anything happens to them and their properties are confiscated they can still have something to fall back to. It’s mostly used as a back up plan.
I also agree with your opinion, it is possible that government officials also invest in bitcoin and altcoin but they keep it secret. Whether it is clean money or not. But the suspicion towards that direction is there and makes sense.
Some do it openly, and some - probably do not, it's up to each person in high places to be a law-abiding member of his gov and be fair about it ;D
-
I think there are actually many government officials who have bought and stored their wealth in crypto, although this is not exposed by the media.
Even if bitcoin or crypto becomes accepted by the government those in power still won’t disclose their holding in crypto, so it’s not really because it’s not accepted or anything that makes them buy and keep in secret it’s sometimes because they don’t want people to know incase anything happens to them and their properties are confiscated they can still have something to fall back to. It’s mostly used as a back up plan.
I also agree with your opinion, it is possible that government officials also invest in bitcoin and altcoin but they keep it secret. Whether it is clean money or not. But the suspicion towards that direction is there and makes sense.
If we do speak about those hidden plans or secrets then we do know that government is really that good at that. They would really be that pretending that they are against with Bitcoin or crypto
but just like been said that we dont even know on what they are involving into or plans in the shadows. They would really be wanting on dealing up with things and doesnt really
like on getting behind. Yes, this crypto market space could exist out without centralization but we do know that we would be able to touch up centralized platforms on which these
companies are heavily regulated.
-
If we do speak about those hidden plans or secrets then we do know that government is really that good at that. They would really be that pretending that they are against with Bitcoin or crypto
but just like been said that we dont even know on what they are involving into or plans in the shadows. They would really be wanting on dealing up with things and doesnt really
like on getting behind. Yes, this crypto market space could exist out without centralization but we do know that we would be able to touch up centralized platforms on which these
companies are heavily regulated.
I also think that many countries were against bitcoin when it was first launched, but they actually studied it and finally accepted it. We don't know if there are any hidden projects by the government in our country, for example, they will launch a crypto currency to participate in the crypto market. This is also a good thing.
-
If we do speak about those hidden plans or secrets then we do know that government is really that good at that. They would really be that pretending that they are against with Bitcoin or crypto
but just like been said that we dont even know on what they are involving into or plans in the shadows. They would really be wanting on dealing up with things and doesnt really
like on getting behind. Yes, this crypto market space could exist out without centralization but we do know that we would be able to touch up centralized platforms on which these
companies are heavily regulated.
I also think that many countries were against bitcoin when it was first launched, but they actually studied it and finally accepted it. We don't know if there are any hidden projects by the government in our country, for example, they will launch a crypto currency to participate in the crypto market. This is also a good thing.
Indeed, As technology based on the blockchain unfolds, more countries are starting to shift their perspective on cryptocurrency. for a while, governments around the world dismissed the idea out of hand, but after further research into the potential advantages and disadvantages to both their countries and the global community, have shifted towards contemplating the implementation of the innovation. Some countries are either considering or are actively creating their own central bank digital currencies in orderto regulate the digital economy and engage in the world of crypto more systematically. They enable them to adapt to the emerging market conditions in the global economy besides offsetting risk that accompany uncontrolled use of digital currency. It could be a form of planning for the future in a bid to create economic stability as well as to discourage further development of financial instruments.
-
If we do speak about those hidden plans or secrets then we do know that government is really that good at that. They would really be that pretending that they are against with Bitcoin or crypto
but just like been said that we dont even know on what they are involving into or plans in the shadows. They would really be wanting on dealing up with things and doesnt really
like on getting behind. Yes, this crypto market space could exist out without centralization but we do know that we would be able to touch up centralized platforms on which these
companies are heavily regulated.
I also think that many countries were against bitcoin when it was first launched, but they actually studied it and finally accepted it. We don't know if there are any hidden projects by the government in our country, for example, they will launch a crypto currency to participate in the crypto market. This is also a good thing.
Indeed, As technology based on the blockchain unfolds, more countries are starting to shift their perspective on cryptocurrency. for a while, governments around the world dismissed the idea out of hand, but after further research into the potential advantages and disadvantages to both their countries and the global community, have shifted towards contemplating the implementation of the innovation. Some countries are either considering or are actively creating their own central bank digital currencies in orderto regulate the digital economy and engage in the world of crypto more systematically. They enable them to adapt to the emerging market conditions in the global economy besides offsetting risk that accompany uncontrolled use of digital currency. It could be a form of planning for the future in a bid to create economic stability as well as to discourage further development of financial instruments.
Yeah, there is a whole concept about CDBC being developed all around and how central banks would be able to use them to pursue their own goals, but for now, it's all only a thin air or a bunch of thoughts piled up on one another. Only time will tell who and how crypto will be integrated the best way out there.
-
If we do speak about those hidden plans or secrets then we do know that government is really that good at that. They would really be that pretending that they are against with Bitcoin or crypto
but just like been said that we dont even know on what they are involving into or plans in the shadows. They would really be wanting on dealing up with things and doesnt really
like on getting behind. Yes, this crypto market space could exist out without centralization but we do know that we would be able to touch up centralized platforms on which these
companies are heavily regulated.
I also think that many countries were against bitcoin when it was first launched, but they actually studied it and finally accepted it. We don't know if there are any hidden projects by the government in our country, for example, they will launch a crypto currency to participate in the crypto market. This is also a good thing.
For now, El Salvador is the main country everybody focuses on in terms of accepting BTC - others are not so eager to do so, and even then, if it (El Salvador) will resolve its debt via BTC, it will be a glorious example of how BTC may be used in other things, not only for investment but for issues like that too.
-
I also think that many countries were against bitcoin when it was first launched, but they actually studied it and finally accepted it. We don't know if there are any hidden projects by the government in our country, for example, they will launch a crypto currency to participate in the crypto market. This is also a good thing.
I believe governments have a token they're aiming to implement but find difficult to manage: CBDC. This was once their proposed solution to replace fiat currency and counter crypto, but most CBDCs haven't been truly successful due to public opposition and limitations in international trade.
Governments are gradually shifting their views and policies on crypto, but it's still insufficient to drive the market growth. I think the US will be the nation to officially trigger a global crypto wave when it formally accepts BTC as a national reserve and plans to become the world crypto-hub.
-
I also think that many countries were against bitcoin when it was first launched, but they actually studied it and finally accepted it. We don't know if there are any hidden projects by the government in our country, for example, they will launch a crypto currency to participate in the crypto market. This is also a good thing.
I believe governments have a token they're aiming to implement but find difficult to manage: CBDC. This was once their proposed solution to replace fiat currency and counter crypto, but most CBDCs haven't been truly successful due to public opposition and limitations in international trade.
Governments are gradually shifting their views and policies on crypto, but it's still insufficient to drive the market growth. I think the US will be the nation to officially trigger a global crypto wave when it formally accepts BTC as a national reserve and plans to become the world crypto-hub.
I too heard about CBDC recently, there are pros and cons, mainly that it's the central banks' dog on a leash, basically, and can be used accordingly just like any other reserve in need, but, only time will tell how exactly it will be implemented and released into the world.
-
Regardless of the specific case, cryptocurrencies and bitcoin in particular were created for this specific purpose, to exist and be immune to the control of governments/states, to be able to create an alternative market, a choice without intermediaries and therefore without banks
-
Regardless of the specific case, cryptocurrencies and bitcoin in particular were created for this specific purpose, to exist and be immune to the control of governments/states, to be able to create an alternative market, a choice without intermediaries and therefore without banks
Yes, that’s right. Bitcoin and other cryptocurrencies were developed with the purpose to introduce healthier financial freedom and decentralization of the economy. This is embedded in the fact that with use of crypto a individual is able to solve his problems directly, without resorting to third parties such as banks or financial institutions. This gives individuals a chance to have total control over their property at the same time being immune to government or state the intervention. Nonetheless, with time we have seen some other factors as limitations like regulation and slow rate of uptake but the essence of decentralization is appealing to many people who would love their operations to be free .
-
Yes, that’s right. Bitcoin and other cryptocurrencies were developed with the purpose to introduce healthier financial freedom and decentralization of the economy. This is embedded in the fact that with use of crypto a individual is able to solve his problems directly, without resorting to third parties such as banks or financial institutions. This gives individuals a chance to have total control over their property at the same time being immune to government or state the intervention. Nonetheless, with time we have seen some other factors as limitations like regulation and slow rate of uptake but the essence of decentralization is appealing to many people who would love their operations to be free .
It's true that BTC and crypto were created to be accessible to everyone without the need for intermediaries, but reality shows that the crypto market cannot thrive without government acceptance or support. Governments cannot interfere with the blockchain, but they have numerous ways to suppress crypto if they deem it a threat to fiat and the domestic economy.
Blocking CEX websites, banning CEX operations, requiring CEXs to provide customer transaction data, prohibiting crypto trading and mining, and continuously disseminating negative propaganda about crypto with accusations related to money laundering and crime... If these actions are carried out extensively, it could deter people from investing in crypto and hinder the development of the crypto market in that country.
-
It's true that BTC and crypto were created to be accessible to everyone without the need for intermediaries, but reality shows that the crypto market cannot thrive without government acceptance or support. Governments cannot interfere with the blockchain, but they have numerous ways to suppress crypto if they deem it a threat to fiat and the domestic economy.
Blocking CEX websites, banning CEX operations, requiring CEXs to provide customer transaction data, prohibiting crypto trading and mining, and continuously disseminating negative propaganda about crypto with accusations related to money laundering and crime... If these actions are carried out extensively, it could deter people from investing in crypto and hinder the development of the crypto market in that country.
All this makes sense in relation to countries that have a significant amount of resources to implement such obstacles in working with cryptocurrencies. But not every country can afford this kind of fight. Therefore, the statement that cryptocurrencies cannot thrive without state approval and regulation is too general. There are many countries where cryptocurrency regulation is far from being the first place in the list, it is not a priority. Therefore, the cryptosphere exists quite autonomously.
-
All this makes sense in relation to countries that have a significant amount of resources to implement such obstacles in working with cryptocurrencies. But not every country can afford this kind of fight. Therefore, the statement that cryptocurrencies cannot thrive without state approval and regulation is too general. There are many countries where cryptocurrency regulation is far from being the first place in the list, it is not a priority. Therefore, the cryptosphere exists quite autonomously.
As far as I know the industry has been sailing swiftly without the approval of any authority, this way bitcoin is also not depending on any particular country for the price double or fall below expected price, therefore market keeps growing and increasing gradually. Even though it's used as legal tender or not people are even using it the more to perform some secret transactions, and come to think of this, we cryptocurrency or bitcoin is made as legal tender then I must say there would be much monitoring and government might also implement everyone to get their address or wallet register to enable them have control over how funds are being moved within the space. Don't be surprised that many people wouldn't want bitcoin to serve as legal tender because it's that easy for them to perform cool and anonymous transaction without anyone's knowledge, therefore, legalization may not make bitcoin price soar as we may think.
-
It's true that BTC and crypto were created to be accessible to everyone without the need for intermediaries, but reality shows that the crypto market cannot thrive without government acceptance or support. Governments cannot interfere with the blockchain, but they have numerous ways to suppress crypto if they deem it a threat to fiat and the domestic economy.
Blocking CEX websites, banning CEX operations, requiring CEXs to provide customer transaction data, prohibiting crypto trading and mining, and continuously disseminating negative propaganda about crypto with accusations related to money laundering and crime... If these actions are carried out extensively, it could deter people from investing in crypto and hinder the development of the crypto market in that country.
All this makes sense in relation to countries that have a significant amount of resources to implement such obstacles in working with cryptocurrencies. But not every country can afford this kind of fight. Therefore, the statement that cryptocurrencies cannot thrive without state approval and regulation is too general. There are many countries where cryptocurrency regulation is far from being the first place in the list, it is not a priority. Therefore, the cryptosphere exists quite autonomously.
Yeah, it's a gap that smaller countries may use to get a leap in that field, whereas bigger countries wouldn't be able to do so due to regulations / wanting to control the crypto space.
I do hope to see more countries like El Salvador in that regard. And even better.
-
As far as I know the industry has been sailing swiftly without the approval of any authority, this way bitcoin is also not depending on any particular country for the price double or fall below expected price, therefore market keeps growing and increasing gradually. Even though it's used as legal tender or not people are even using it the more to perform some secret transactions, and come to think of this, we cryptocurrency or bitcoin is made as legal tender then I must say there would be much monitoring and government might also implement everyone to get their address or wallet register to enable them have control over how funds are being moved within the space. Don't be surprised that many people wouldn't want bitcoin to serve as legal tender because it's that easy for them to perform cool and anonymous transaction without anyone's knowledge, therefore, legalization may not make bitcoin price soar as we may think.
Bitcoin can be used as a good payment tool and we can do it anytime and anywhere as long as there is an internet connection. This is financial freedom. And I never thought bitcoin would become a legal tender, because it seems like it will never happen. Bitcoin is a decentralized system and no one can control it.
Bitcoin will likely become more popular and more widely used in the future.
-
I dont really think so actually.Since government has the upper hand in regulating what is to be and what not to be.Considering china and sonw other countries aho do not allow the engagement of crypto activities i theur countries.For some it could even be considered a crine or something wlse of that nature,i think.
They can regulate, tax, and enforce laws to combat illicit activities. China's ban, the US SEC's oversight, and EU's AML directives show how governments shape the landscape.
It's a delicate balance between decentralization and regulation. Crypto markets can exist without explicit permission, but governments influence the environment through laws, regulations, and enforcement.
-
As far as I know the industry has been sailing swiftly without the approval of any authority, this way bitcoin is also not depending on any particular country for the price double or fall below expected price, therefore market keeps growing and increasing gradually. Even though it's used as legal tender or not people are even using it the more to perform some secret transactions, and come to think of this, we cryptocurrency or bitcoin is made as legal tender then I must say there would be much monitoring and government might also implement everyone to get their address or wallet register to enable them have control over how funds are being moved within the space. Don't be surprised that many people wouldn't want bitcoin to serve as legal tender because it's that easy for them to perform cool and anonymous transaction without anyone's knowledge, therefore, legalization may not make bitcoin price soar as we may think.
Bitcoin can be used as a good payment tool and we can do it anytime and anywhere as long as there is an internet connection. This is financial freedom. And I never thought bitcoin would become a legal tender, because it seems like it will never happen. Bitcoin is a decentralized system and no one can control it.
Bitcoin will likely become more popular and more widely used in the future.
The popularity of bitcoin is indeed unquestionable and many already know it and, of course, this is something very good, so that more and more countries will want to accept bitcoin in its entirety, not half-heartedly, because recognizing but not being accepted as a legal means of transaction will certainly be a problem because it must be changed to fiat first.
Because of the system, bitcoin will indeed not be able to be controlled and, of course, this is very profitable, but there are still many countries that have problems with this, so there are restrictions on accepting bitcoin.
-
As far as I know the industry has been sailing swiftly without the approval of any authority, this way bitcoin is also not depending on any particular country for the price double or fall below expected price, therefore market keeps growing and increasing gradually. Even though it's used as legal tender or not people are even using it the more to perform some secret transactions, and come to think of this, we cryptocurrency or bitcoin is made as legal tender then I must say there would be much monitoring and government might also implement everyone to get their address or wallet register to enable them have control over how funds are being moved within the space. Don't be surprised that many people wouldn't want bitcoin to serve as legal tender because it's that easy for them to perform cool and anonymous transaction without anyone's knowledge, therefore, legalization may not make bitcoin price soar as we may think.
Bitcoin can be used as a good payment tool and we can do it anytime and anywhere as long as there is an internet connection. This is financial freedom. And I never thought bitcoin would become a legal tender, because it seems like it will never happen. Bitcoin is a decentralized system and no one can control it.
Bitcoin will likely become more popular and more widely used in the future.
The popularity of bitcoin is indeed unquestionable and many already know it and, of course, this is something very good, so that more and more countries will want to accept bitcoin in its entirety, not half-heartedly, because recognizing but not being accepted as a legal means of transaction will certainly be a problem because it must be changed to fiat first.
Because of the system, bitcoin will indeed not be able to be controlled and, of course, this is very profitable, but there are still many countries that have problems with this, so there are restrictions on accepting bitcoin.
In this regard the main factor lies in the fact that more efforts should be made to explain the reasons behind acceptance of Bitcoin as a legal tender, so, there is a lack of an open discussion with governments of various states. With a clearer and more positive understanding of what blockchain technology is and what Bitcoin can offer, as a currency and a platform, governments will be more comfortable structuring regulations to support further innovation, while not at the cost of economic stability. Furthermore, it needs to be illustrated that Bitcoin could help to make greater financial services available for those who have limited opportunities to obtain them with the assistance of conventional methods.
As for now assembled in what at first might seem as a cumbersome, cliquish ecosystem such as it as user we can also do our part and keep supporting elements that make Bitcoin as a medium of exchange easier to integrate into the framework of our everyday life. The improvement in the environment, including the digital wallets and the payment systems, will lead to increased use of the technologies. With the evolution of the systems that underlie this digital currency,there shall be a continued progressive of more nations considering to accord Bitcoin legal recognition without necessarily having to convert it into fiat currencies.
-
In this regard the main factor lies in the fact that more efforts should be made to explain the reasons behind acceptance of Bitcoin as a legal tender, so, there is a lack of an open discussion with governments of various states. With a clearer and more positive understanding of what blockchain technology is and what Bitcoin can offer, as a currency and a platform, governments will be more comfortable structuring regulations to support further innovation, while not at the cost of economic stability. Furthermore, it needs to be illustrated that Bitcoin could help to make greater financial services available for those who have limited opportunities to obtain them with the assistance of conventional methods.
As for now assembled in what at first might seem as a cumbersome, cliquish ecosystem such as it as user we can also do our part and keep supporting elements that make Bitcoin as a medium of exchange easier to integrate into the framework of our everyday life. The improvement in the environment, including the digital wallets and the payment systems, will lead to increased use of the technologies. With the evolution of the systems that underlie this digital currency,there shall be a continued progressive of more nations considering to accord Bitcoin legal recognition without necessarily having to convert it into fiat currencies.
I believe governments have conducted sufficient research on BTC to understand its value and potential. After all, their economic experts must be constantly monitoring the crypto market. The only reason they might prohibit crypto is that they aren't prepared for the acceptance of a new asset class that solely exists online. They fear a minor oversight could lead to catastrophic consequences for the national economy.
Another issue is that crypto can be used as a fiat alternative, which is difficult for governments to accept as fiat is the simplest financial tool for them to manage the economy. If this tool is taken away, governments will struggle to intervene as they don't control public blockchains to print or burn money.
-
The popularity of bitcoin is indeed unquestionable and many already know it and, of course, this is something very good, so that more and more countries will want to accept bitcoin in its entirety, not half-heartedly, because recognizing but not being accepted as a legal means of transaction will certainly be a problem because it must be changed to fiat first.
Because of the system, bitcoin will indeed not be able to be controlled and, of course, this is very profitable, but there are still many countries that have problems with this, so there are restrictions on accepting bitcoin.
Many countries still prohibit bitcoin, perhaps their consideration is because bitcoin is difficult to control and can be used as money laundering from corruption crimes and illegal activities, even though in my opinion it is not only bitcoin, crimes and money laundering can be done anywhere. Bitcoin is getting more popular and its price is getting higher, if the country still prohibits bitcoin they will be left behind from other countries.
-
Many countries still prohibit bitcoin, perhaps their consideration is because bitcoin is difficult to control and can be used as money laundering from corruption crimes and illegal activities, even though in my opinion it is not only bitcoin, crimes and money laundering can be done anywhere. Bitcoin is getting more popular and its price is getting higher, if the country still prohibits bitcoin they will be left behind from other countries.
The main concern has been about the control Of Bitcoin. If Bitcoin can't be control, then the rest of the laundering becomes a big problem for them but what about the fit currency they controlled by the Fed and central banks? There is still increase in high rate if money laundering reported by the government and yet they think Bitcoin is there main problem.
The thing is that people that do bad things look for opportunities and Bitcoin is just one of the place where money laundering can be done like their own failed fiat system and the privacy it has is what fear them to ban Bitcoin but time will tell whether they need Bitcoin or not.
-
The popularity of bitcoin is indeed unquestionable and many already know it and, of course, this is something very good, so that more and more countries will want to accept bitcoin in its entirety, not half-heartedly, because recognizing but not being accepted as a legal means of transaction will certainly be a problem because it must be changed to fiat first.
Because of the system, bitcoin will indeed not be able to be controlled and, of course, this is very profitable, but there are still many countries that have problems with this, so there are restrictions on accepting bitcoin.
Many countries still prohibit bitcoin, perhaps their consideration is because bitcoin is difficult to control and can be used as money laundering from corruption crimes and illegal activities, even though in my opinion it is not only bitcoin, crimes and money laundering can be done anywhere. Bitcoin is getting more popular and its price is getting higher, if the country still prohibits bitcoin they will be left behind from other countries.
So, knowing that some countries have decided to ban Bitcoin it is possible to state that its usage can be justified only by precautionary measures against its misuse for criminal purposes, However, it is important to note that crime, money-laundering, and other illicit activities can occur via any particular instrument, including Bitcoin. However, with the further advancement of technology and with the growing acceptance of Bitcoins for use, it has become our responsibility to learn how to use them rightly than prohibiting them. Those nations that will persist in Banning Bitcoin stand the risk of being left out of the emerging world of new financial technologies, thus are the nations that will open their doors to this innovation willing to gain more economic and technological advantages.
-
Many countries still prohibit bitcoin, perhaps their consideration is because bitcoin is difficult to control and can be used as money laundering from corruption crimes and illegal activities, even though in my opinion it is not only bitcoin, crimes and money laundering can be done anywhere. Bitcoin is getting more popular and its price is getting higher, if the country still prohibits bitcoin they will be left behind from other countries.
The main concern has been about the control Of Bitcoin. If Bitcoin can't be control, then the rest of the laundering becomes a big problem for them but what about the fit currency they controlled by the Fed and central banks? There is still increase in high rate if money laundering reported by the government and yet they think Bitcoin is there main problem.
The thing is that people that do bad things look for opportunities and Bitcoin is just one of the place where money laundering can be done like their own failed fiat system and the privacy it has is what fear them to ban Bitcoin but time will tell whether they need Bitcoin or not.
Every technological advancement, especially the decentralization of the system, cannot be controlled, and this is what attracts investors to invest in bitcoin. They can take advantage of this technological advancement to store their assets safely and can transact freely without any third party.
-
The popularity of bitcoin is indeed unquestionable and many already know it and, of course, this is something very good, so that more and more countries will want to accept bitcoin in its entirety, not half-heartedly, because recognizing but not being accepted as a legal means of transaction will certainly be a problem because it must be changed to fiat first.
Because of the system, bitcoin will indeed not be able to be controlled and, of course, this is very profitable, but there are still many countries that have problems with this, so there are restrictions on accepting bitcoin.
Many countries still prohibit bitcoin, perhaps their consideration is because bitcoin is difficult to control and can be used as money laundering from corruption crimes and illegal activities, even though in my opinion it is not only bitcoin, crimes and money laundering can be done anywhere. Bitcoin is getting more popular and its price is getting higher, if the country still prohibits bitcoin they will be left behind from other countries.
So, knowing that some countries have decided to ban Bitcoin it is possible to state that its usage can be justified only by precautionary measures against its misuse for criminal purposes, However, it is important to note that crime, money-laundering, and other illicit activities can occur via any particular instrument, including Bitcoin. However, with the further advancement of technology and with the growing acceptance of Bitcoins for use, it has become our responsibility to learn how to use them rightly than prohibiting them. Those nations that will persist in Banning Bitcoin stand the risk of being left out of the emerging world of new financial technologies, thus are the nations that will open their doors to this innovation willing to gain more economic and technological advantages.
Technological progress should be. So advance, not the other way around, so when a country bans bitcoin, of course. So there are problems that are known by the country, but losses will also be received because progress that should be accepted as an update is rejected. made there is a misuse that the country does not want, there is a, mechanism that can be done to protect it so that it avoids such problems, for example, with every transaction to be converted into fiat must go through a local exchange recognized by the country, then there will be protection if there is misuse.
If technological progress is very profitable, it should be accepted and utilized by taking fees from every transaction that occurs.
-
Technological progress should be. So advance, not the other way around, so when a country bans bitcoin, of course. So there are problems that are known by the country, but losses will also be received because progress that should be accepted as an update is rejected. made there is a misuse that the country does not want, there is a, mechanism that can be done to protect it so that it avoids such problems, for example, with every transaction to be converted into fiat must go through a local exchange recognized by the country, then there will be protection if there is misuse.
If technological progress is very profitable, it should be accepted and utilized by taking fees from every transaction that occurs.
Actually no one can reject the advancement of technology, therefore the government should support crypto technology because they can take taxes from crypto conversion to FIAT through local exchanges and can supervise it so that it is not misused by crypto users.
so crypto will always exist even though the government rejects it.
-
Technological progress should be. So advance, not the other way around, so when a country bans bitcoin, of course. So there are problems that are known by the country, but losses will also be received because progress that should be accepted as an update is rejected. made there is a misuse that the country does not want, there is a, mechanism that can be done to protect it so that it avoids such problems, for example, with every transaction to be converted into fiat must go through a local exchange recognized by the country, then there will be protection if there is misuse.
If technological progress is very profitable, it should be accepted and utilized by taking fees from every transaction that occurs.
Actually no one can reject the advancement of technology, therefore the government should support crypto technology because they can take taxes from crypto conversion to FIAT through local exchanges and can supervise it so that it is not misused by crypto users.
so crypto will always exist even though the government rejects it.
From this, it is clear that when governments extend their support for this crypto technology, there are more possibilities for positive uses of the innovation to be granted. Ministries of finance should not only be involved in the regulation of local exchanges in charge of converting fiat to crypto and vice versa but also gain more revenue by taxing those conversions. This also gives us a more secure way to engage in the cryptospace. This shows that more and more organizations are considering the use of this technology, as Deloitte’s survey showed that 76% of global financial firms have incorporated crypto in their companies. To that end, given sufficient backing, the opportunities of blockchain for economic growth can be realized more responsibly and safely.
-
From this, it is clear that when governments extend their support for this crypto technology, there are more possibilities for positive uses of the innovation to be granted. Ministries of finance should not only be involved in the regulation of local exchanges in charge of converting fiat to crypto and vice versa but also gain more revenue by taxing those conversions. This also gives us a more secure way to engage in the cryptospace. This shows that more and more organizations are considering the use of this technology, as Deloitte’s survey showed that 76% of global financial firms have incorporated crypto in their companies. To that end, given sufficient backing, the opportunities of blockchain for economic growth can be realized more responsibly and safely.
The trend toward the growth of government support for the development of crypto technology provides a vast potential for positive outlooks and the growth of public confidence in digital currency assets. This way, it is possible to increase security and transparency of fiat to crypto conversions with the help of engaging the finance ministry. The market report revealed that most financial firms have already embraced crypto and this suggests that the technology is becoming mainstream. By having the right kind of backing, it is possible to unlock value for investors from blockchain while at the same time making economic progress more ethical and sustainable.
-
The trend toward the growth of government support for the development of crypto technology provides a vast potential for positive outlooks and the growth of public confidence in digital currency assets. This way, it is possible to increase security and transparency of fiat to crypto conversions with the help of engaging the finance ministry. The market report revealed that most financial firms have already embraced crypto and this suggests that the technology is becoming mainstream. By having the right kind of backing, it is possible to unlock value for investors from blockchain while at the same time making economic progress more ethical and sustainable.
Compared to previous years, we're seeing active involvement from numerous businesses, investment funds, and banks in the crypto market. This could positively impact government perceptions and views of the market, leading to gradual acceptance of crypto as a new asset class for management and taxation.
This is what we hope for to allow crypto to develop freely without being hindered or threatened by unfounded legal accusations. Crypto has proven its ability to exist independently in all circumstances, but government involvement will help crypto grow faster. Of course, I hope that crypto taxes will be as low as those on stocks ^^
-
The trend toward the growth of government support for the development of crypto technology provides a vast potential for positive outlooks and the growth of public confidence in digital currency assets. This way, it is possible to increase security and transparency of fiat to crypto conversions with the help of engaging the finance ministry. The market report revealed that most financial firms have already embraced crypto and this suggests that the technology is becoming mainstream. By having the right kind of backing, it is possible to unlock value for investors from blockchain while at the same time making economic progress more ethical and sustainable.
Compared to previous years, we're seeing active involvement from numerous businesses, investment funds, and banks in the crypto market. This could positively impact government perceptions and views of the market, leading to gradual acceptance of crypto as a new asset class for management and taxation.
This is what we hope for to allow crypto to develop freely without being hindered or threatened by unfounded legal accusations. Crypto has proven its ability to exist independently in all circumstances, but government involvement will help crypto grow faster. Of course, I hope that crypto taxes will be as low as those on stocks ^^
I agree with you, government involvement in making rules and accepting crypto will help crypto grow faster because crypto lovers will feel safe when the government allows it.
Currently, many governments have allowed crypto, this is very good for crypto and more people will invest in crypto.
-
The trend toward the growth of government support for the development of crypto technology provides a vast potential for positive outlooks and the growth of public confidence in digital currency assets. This way, it is possible to increase security and transparency of fiat to crypto conversions with the help of engaging the finance ministry. The market report revealed that most financial firms have already embraced crypto and this suggests that the technology is becoming mainstream. By having the right kind of backing, it is possible to unlock value for investors from blockchain while at the same time making economic progress more ethical and sustainable.
Compared to previous years, we're seeing active involvement from numerous businesses, investment funds, and banks in the crypto market. This could positively impact government perceptions and views of the market, leading to gradual acceptance of crypto as a new asset class for management and taxation.
This is what we hope for to allow crypto to develop freely without being hindered or threatened by unfounded legal accusations. Crypto has proven its ability to exist independently in all circumstances, but government involvement will help crypto grow faster. Of course, I hope that crypto taxes will be as low as those on stocks ^^
I agree with you, government involvement in making rules and accepting crypto will help crypto grow faster because crypto lovers will feel safe when the government allows it.
Currently, many governments have allowed crypto, this is very good for crypto and more people will invest in crypto.
From here we can point out that unambiguous rules from the authorities may really help cryptographic money investors feel protected. If the government and its relevant bodies consider crypto as a real phenomenon, this would improve the conditions for the development of digital assets.
As more and more countries permit the use of cryptocurrency, people will start to develop confidence with it. This of course has the effect of creating more people who invest, which is of course beneficial to the overall ecosystem of cryptocurrency.
-
The trend toward the growth of government support for the development of crypto technology provides a vast potential for positive outlooks and the growth of public confidence in digital currency assets. This way, it is possible to increase security and transparency of fiat to crypto conversions with the help of engaging the finance ministry. The market report revealed that most financial firms have already embraced crypto and this suggests that the technology is becoming mainstream. By having the right kind of backing, it is possible to unlock value for investors from blockchain while at the same time making economic progress more ethical and sustainable.
Compared to previous years, we're seeing active involvement from numerous businesses, investment funds, and banks in the crypto market. This could positively impact government perceptions and views of the market, leading to gradual acceptance of crypto as a new asset class for management and taxation.
This is what we hope for to allow crypto to develop freely without being hindered or threatened by unfounded legal accusations. Crypto has proven its ability to exist independently in all circumstances, but government involvement will help crypto grow faster. Of course, I hope that crypto taxes will be as low as those on stocks ^^
I agree with you, government involvement in making rules and accepting crypto will help crypto grow faster because crypto lovers will feel safe when the government allows it.
Currently, many governments have allowed crypto, this is very good for crypto and more people will invest in crypto.
After all, as a crypto user, it always requires recognition from the government so that every step we take can be protected by applicable law, so that there is no worry that could happen if we do anything to Crypto.
Indeed, quite a lot of governments have fully recognized every transaction, but there are also those who can only make transactions but cannot be used as a legitimate payment tool and be accepted first to Fiat be accepted, but there are also those who still refuse to accept be accepted. It is only natural and all will happen and all will happen be accepted time can accept.
-
After all, as a crypto user, it always requires recognition from the government so that every step we take can be protected by applicable law, so that there is no worry that could happen if we do anything to Crypto.
Indeed, quite a lot of governments have fully recognized every transaction, but there are also those who can only make transactions but cannot be used as a legitimate payment tool and be accepted first to Fiat be accepted, but there are also those who still refuse to accept be accepted. It is only natural and all will happen and all will happen be accepted time can accept.
Crypto investors need recognition and regulations from the government so that they are legally protected and crypto is not considered something illegal.
those investors will feel safe and this will attract new investors, because they feel legally protected. and the government can also get taxes from crypto transactions on local exchanges. so a mutualistic symbiosis between investors and the government.
-
After all, as a crypto user, it always requires recognition from the government so that every step we take can be protected by applicable law, so that there is no worry that could happen if we do anything to Crypto.
Indeed, quite a lot of governments have fully recognized every transaction, but there are also those who can only make transactions but cannot be used as a legitimate payment tool and be accepted first to Fiat be accepted, but there are also those who still refuse to accept be accepted. It is only natural and all will happen and all will happen be accepted time can accept.
Crypto investors need recognition and regulations from the government so that they are legally protected and crypto is not considered something illegal.
those investors will feel safe and this will attract new investors, because they feel legally protected. and the government can also get taxes from crypto transactions on local exchanges. so a mutualistic symbiosis between investors and the government.
Indeed, it can be critical to development for this investment to have a proper legal framework built around it and recognized by the government. With good regulations in place, investors will feel more secure because there is law that governs the rights of the investors in every contract.
It will also create new ways through which the government can collect tax revenues on the cryptocurrencies activities. This foster the mutual benefits whereby both investors and the government benefit in equal measure in the support of development of the digital economy.
-
After all, as a crypto user, it always requires recognition from the government so that every step we take can be protected by applicable law, so that there is no worry that could happen if we do anything to Crypto.
Indeed, quite a lot of governments have fully recognized every transaction, but there are also those who can only make transactions but cannot be used as a legitimate payment tool and be accepted first to Fiat be accepted, but there are also those who still refuse to accept be accepted. It is only natural and all will happen and all will happen be accepted time can accept.
Crypto investors need recognition and regulations from the government so that they are legally protected and crypto is not considered something illegal.
those investors will feel safe and this will attract new investors, because they feel legally protected. and the government can also get taxes from crypto transactions on local exchanges. so a mutualistic symbiosis between investors and the government.
Indeed, it can be critical to development for this investment to have a proper legal framework built around it and recognized by the government. With good regulations in place, investors will feel more secure because there is law that governs the rights of the investors in every contract.
It will also create new ways through which the government can collect tax revenues on the cryptocurrencies activities. This foster the mutual benefits whereby both investors and the government benefit in equal measure in the support of development of the digital economy.
But can crypto market still exist without government regulation? I think from the begining of crypto where USDT or stable coin didn't exist yet crypto market stand alone. Altcoins during that time are priced in satoshi which I think was good. Today I guess every token and BTC can be bought with USDT and fiat.
Regulations are just there to collect tax, you can believe the government just interfere the market to make money out of it but at least they won't make it illegal.
-
After all, as a crypto user, it always requires recognition from the government so that every step we take can be protected by applicable law, so that there is no worry that could happen if we do anything to Crypto.
Indeed, quite a lot of governments have fully recognized every transaction, but there are also those who can only make transactions but cannot be used as a legitimate payment tool and be accepted first to Fiat be accepted, but there are also those who still refuse to accept be accepted. It is only natural and all will happen and all will happen be accepted time can accept.
Crypto investors need recognition and regulations from the government so that they are legally protected and crypto is not considered something illegal.
those investors will feel safe and this will attract new investors, because they feel legally protected. and the government can also get taxes from crypto transactions on local exchanges. so a mutualistic symbiosis between investors and the government.
Indeed, it can be critical to development for this investment to have a proper legal framework built around it and recognized by the government. With good regulations in place, investors will feel more secure because there is law that governs the rights of the investors in every contract.
It will also create new ways through which the government can collect tax revenues on the cryptocurrencies activities. This foster the mutual benefits whereby both investors and the government benefit in equal measure in the support of development of the digital economy.
But can crypto market still exist without government regulation? I think from the begining of crypto where USDT or stable coin didn't exist yet crypto market stand alone. Altcoins during that time are priced in satoshi which I think was good. Today I guess every token and BTC can be bought with USDT and fiat.
Regulations are just there to collect tax, you can believe the government just interfere the market to make money out of it but at least they won't make it illegal.
Although the government takes advantage of our Crypto transaction tax, it is a little burdensome but I am grateful that the government in my country has allowed Crypto for investment.
The Crypto Market remains there without government regulations and haven't happened when several countries banned crypto but Bitcoin still survived until now? The rules of the government that make us comfortable because there is a permit to invest in Cryppto.
-
Although the government takes advantage of our Crypto transaction tax, it is a little burdensome but I am grateful that the government in my country has allowed Crypto for investment.
The Crypto Market remains there without government regulations and haven't happened when several countries banned crypto but Bitcoin still survived until now? The rules of the government that make us comfortable because there is a permit to invest in Cryppto.
Of course, it is annoying to pay taxes on transactions with cryptocurrencies, but government regulations make us feel more protected when investing. This regulation shows that government understands the existence of crypto as an investment asset, which also explain legal bodies in this highly unpredictable investment market.
I also think that we are still seeing that despite some countries have not allowed for the use of crypto, Bitcoin is still strong into the future. With these permits in place, we can move forward more assertively for crypto investment to note that government backing in creating this environment makes so much a stable ground for the ecosystem.
-
Many countries still prohibit bitcoin, perhaps their consideration is because bitcoin is difficult to control and can be used as money laundering from corruption crimes and illegal activities, even though in my opinion it is not only bitcoin, crimes and money laundering can be done anywhere. Bitcoin is getting more popular and its price is getting higher, if the country still prohibits bitcoin they will be left behind from other countries.
The main concern has been about the control Of Bitcoin. If Bitcoin can't be control, then the rest of the laundering becomes a big problem for them but what about the fit currency they controlled by the Fed and central banks? There is still increase in high rate if money laundering reported by the government and yet they think Bitcoin is there main problem.
The thing is that people that do bad things look for opportunities and Bitcoin is just one of the place where money laundering can be done like their own failed fiat system and the privacy it has is what fear them to ban Bitcoin but time will tell whether they need Bitcoin or not.
- If we look at bitcoin and fiat from another angle, they have similarities. The question is, what is the similarity between bitcoin and Fiat in terms of purpose to use? Like, for example, Bitcoin and Fiat can both be used for good and bad purposes?
In this question, it is clear that if the person who buys Bitcoin is a bad person, it is possible that he will use the bitcoin for illegal purposes, and one of them is against the government's AML rules, in which this has also been done in Fiat for a long time, not yet. Bitcoin is created. So the only thing the government can do is change Bitcoin, but Bitcoin will continue for sure.
-
- If we look at bitcoin and fiat from another angle, they have similarities. The question is, what is the similarity between bitcoin and Fiat in terms of purpose to use? Like, for example, Bitcoin and Fiat can both be used for good and bad purposes?
In this question, it is clear that if the person who buys Bitcoin is a bad person, it is possible that he will use the bitcoin for illegal purposes, and one of them is against the government's AML rules, in which this has also been done in Fiat for a long time, not yet. Bitcoin is created. So the only thing the government can do is change Bitcoin, but Bitcoin will continue for sure.
You are right, it all depends on the user. FIAT and Bitcoin can be used for illegal things. But the government's concern is that bitcoin decentralization is difficult to track, if used for illegal activities, the government will have difficulty finding the perpetrators. That's why when bitcoin was launched many governments banned bitcoin from their countries. But now the government has started to allow bitcoin to be an investment.
-
- If we look at bitcoin and fiat from another angle, they have similarities. The question is, what is the similarity between bitcoin and Fiat in terms of purpose to use? Like, for example, Bitcoin and Fiat can both be used for good and bad purposes?
In this question, it is clear that if the person who buys Bitcoin is a bad person, it is possible that he will use the bitcoin for illegal purposes, and one of them is against the government's AML rules, in which this has also been done in Fiat for a long time, not yet. Bitcoin is created. So the only thing the government can do is change Bitcoin, but Bitcoin will continue for sure.
You are right, it all depends on the user. FIAT and Bitcoin can be used for illegal things. But the government's concern is that bitcoin decentralization is difficult to track, if used for illegal activities, the government will have difficulty finding the perpetrators. That's why when bitcoin was launched many governments banned bitcoin from their countries. But now the government has started to allow bitcoin to be an investment.
The issues that governments have with crypto are largely relating to issues of disclosure, and misuse. However, bitcoin is decentralized and this fact causes problems with tracking and therefore becomes a serious issue in many countries. Nevertheless, with time, there has been a revelation of how well crypto is a digital asset.
Some governments are gradually begin what may be described as accepting the possibility that bitcoin could be received as an acceptable investment vehicle and they are beginning to open up to try and control and use this possibly more efficiently. Such a decision indicates that there is a regulatory flexibility that lets us carry on we are participating in the crypto market. Now, the potential of bitcoin can be used with an opportunity to do it more as an alternative investment and still controlling the current legislation.
-
You are right, it all depends on the user. FIAT and Bitcoin can be used for illegal things. But the government's concern is that bitcoin decentralization is difficult to track, if used for illegal activities, the government will have difficulty finding the perpetrators. That's why when bitcoin was launched many governments banned bitcoin from their countries. But now the government has started to allow bitcoin to be an investment.
I think BTC is way more transparent than fiat. When you withdraw fiat from an ATM, anyone can move it around and use it without any reporting, making it nearly impossible to trace in many cases. With BTC, tracking is much easier, unless criminals use mixers to hide their identities.
Governments often use money laundering as an excuse to crack down on crypto, but the issue of money laundering was already a big problem before crypto existed, and fiat was always the preferred tool for criminals. I think governments aren't ready for BTC and crypto because they don't fully understand it and can't control it yet. Legal advancements for crypto in the US will be a classic example for other governments to follow and adopt in the future.
-
- If we look at bitcoin and fiat from another angle, they have similarities. The question is, what is the similarity between bitcoin and Fiat in terms of purpose to use? Like, for example, Bitcoin and Fiat can both be used for good and bad purposes?
In this question, it is clear that if the person who buys Bitcoin is a bad person, it is possible that he will use the bitcoin for illegal purposes, and one of them is against the government's AML rules, in which this has also been done in Fiat for a long time, not yet. Bitcoin is created. So the only thing the government can do is change Bitcoin, but Bitcoin will continue for sure.
You are right, it all depends on the user. FIAT and Bitcoin can be used for illegal things. But the government's concern is that bitcoin decentralization is difficult to track, if used for illegal activities, the government will have difficulty finding the perpetrators. That's why when bitcoin was launched many governments banned bitcoin from their countries. But now the government has started to allow bitcoin to be an investment.
It is a natural thing for the government to do to avoid something that might be misuse of bitcoin for illegal transactions and the government cannot track because of the special nature of bitcoin which has that facility.
But a good government can make regulations so that it can be tracked with rules where every use of bitcoin must be exchanged for the applicable fiat and on the local exchange, that's all that can be done.
But I agree with you that if it is indeed used illegally, both bitcoin and fiat can be done the same.
Many countries have made it easy to be used as an investment and trade, but legal use must be exchanged first into fiat.
-
It is a natural thing for the government to do to avoid something that might be misuse of bitcoin for illegal transactions and the government cannot track because of the special nature of bitcoin which has that facility.
But a good government can make regulations so that it can be tracked with rules where every use of bitcoin must be exchanged for the applicable fiat and on the local exchange, that's all that can be done.
But I agree with you that if it is indeed used illegally, both bitcoin and fiat can be done the same.
Many countries have made it easy to be used as an investment and trade, but legal use must be exchanged first into fiat.
I believe it is quite logical that governments seek to combat Bitcoin abuse with special rules since the currency is nearly impossible to track. I would like to second that, good regulation actually offers security and freedom of use like making fiat conversions at local exchanges for supervision. As we will see they can both be manipulated and thus require strict supervision, nevertheless the difference does exist. It also became easier to use Bitcoin for investment and trading if the countries meet the existing legal requirements.
-
It is a natural thing for the government to do to avoid something that might be misuse of bitcoin for illegal transactions and the government cannot track because of the special nature of bitcoin which has that facility.
But a good government can make regulations so that it can be tracked with rules where every use of bitcoin must be exchanged for the applicable fiat and on the local exchange, that's all that can be done.
But I agree with you that if it is indeed used illegally, both bitcoin and fiat can be done the same.
Many countries have made it easy to be used as an investment and trade, but legal use must be exchanged first into fiat.
I believe it is quite logical that governments seek to combat Bitcoin abuse with special rules since the currency is nearly impossible to track. I would like to second that, good regulation actually offers security and freedom of use like making fiat conversions at local exchanges for supervision. As we will see they can both be manipulated and thus require strict supervision, nevertheless the difference does exist. It also became easier to use Bitcoin for investment and trading if the countries meet the existing legal requirements.
The thing is even though bad things can be made both with fiat and BTC, BTC cannot be tracked so easily.
Many would see it as an attack on BTC and such, and to some extent - they are right, but if people want to see the BTC adapted on a bigger scale, it's inevitable. There should be a compromise made in many questions to come.
-
You are right, it all depends on the user. FIAT and Bitcoin can be used for illegal things. But the government's concern is that bitcoin decentralization is difficult to track, if used for illegal activities, the government will have difficulty finding the perpetrators. That's why when bitcoin was launched many governments banned bitcoin from their countries. But now the government has started to allow bitcoin to be an investment.
I think BTC is way more transparent than fiat. When you withdraw fiat from an ATM, anyone can move it around and use it without any reporting, making it nearly impossible to trace in many cases. With BTC, tracking is much easier, unless criminals use mixers to hide their identities.
Governments often use money laundering as an excuse to crack down on crypto, but the issue of money laundering was already a big problem before crypto existed, and fiat was always the preferred tool for criminals. I think governments aren't ready for BTC and crypto because they don't fully understand it and can't control it yet. Legal advancements for crypto in the US will be a classic example for other governments to follow and adopt in the future.
I do agree - and I hope for everything that would be beneficial for the community in the times to come.
Fiat and crypto both can be used to different extent in what govs would see as "non-legal", however, bigger entities tend to see something they didn't work with previously as something harming or alien. So much so that much efforts are needed for them to come up with needed regulations or compromises in order to process further.
-
- If we look at bitcoin and fiat from another angle, they have similarities. The question is, what is the similarity between bitcoin and Fiat in terms of purpose to use? Like, for example, Bitcoin and Fiat can both be used for good and bad purposes?
In this question, it is clear that if the person who buys Bitcoin is a bad person, it is possible that he will use the bitcoin for illegal purposes, and one of them is against the government's AML rules, in which this has also been done in Fiat for a long time, not yet. Bitcoin is created. So the only thing the government can do is change Bitcoin, but Bitcoin will continue for sure.
You are right, it all depends on the user. FIAT and Bitcoin can be used for illegal things. But the government's concern is that bitcoin decentralization is difficult to track, if used for illegal activities, the government will have difficulty finding the perpetrators. That's why when bitcoin was launched many governments banned bitcoin from their countries. But now the government has started to allow bitcoin to be an investment.
Yep. That's the gist of it - for now, may countries, smaller especially, loosen their belts on the crypto in general.
Maybe in the future, things will become better - it seems like crypto become more adopted everywhere as time goes on, and the talk about it in so many different spheres proves that.
-
I do agree - and I hope for everything that would be beneficial for the community in the times to come.
Fiat and crypto both can be used to different extent in what govs would see as "non-legal", however, bigger entities tend to see something they didn't work with previously as something harming or alien. So much so that much efforts are needed for them to come up with needed regulations or compromises in order to process further.
Well, fiat currencies get misused for bad stuff too, and I'm not saying it's okay that crypto is used by criminals. But I want to point out the unfair treatment of crypto by governments right now. They use inaccurate data and just want people to believe their biased views on crypto value in the economy.
The ECB is a prime example, and some US politicians are trying to twist the facts to suit their own agendas. But the good news is, no matter what they say, we get a new block mined on the Bitcoin blockchain every 10m. Crypto is here to stay and isn't going down without a fight against these extreme, outdated government policies.
-
It is a natural thing for the government to do to avoid something that might be misuse of bitcoin for illegal transactions and the government cannot track because of the special nature of bitcoin which has that facility.
But a good government can make regulations so that it can be tracked with rules where every use of bitcoin must be exchanged for the applicable fiat and on the local exchange, that's all that can be done.
But I agree with you that if it is indeed used illegally, both bitcoin and fiat can be done the same.
Many countries have made it easy to be used as an investment and trade, but legal use must be exchanged first into fiat.
I believe it is quite logical that governments seek to combat Bitcoin abuse with special rules since the currency is nearly impossible to track. I would like to second that, good regulation actually offers security and freedom of use like making fiat conversions at local exchanges for supervision. As we will see they can both be manipulated and thus require strict supervision, nevertheless the difference does exist. It also became easier to use Bitcoin for investment and trading if the countries meet the existing legal requirements.
Governments can certainly make bitcoin use free for everyone to invest and trade by enforcing existing laws. But any legal passed by the government of every country is looking at the profit of the government. So if the government wants to enforce any laws on the use of bitcoins, they must raise the issue of profit. We are making money in crypto and living life with that money. But the government always does more research on the negative aspects of an issue before accepting it. Since it is not possible to track someone with bitcoin transactions, there is a possibility of fraud. A lot of countries will support bitcoin in terms of country based business but we have to wait for a good news.
-
Technically yes, but governments plays major role in the adoption of they are against the crypto then they will enforce unfair tax rate that pushes the people from using it away that is why we also need government support to take the crypto to next level but the positive is if one government does something good it will effect the Bitcoin overall and it could even force other governments to follow the same.
-
It is a natural thing for the government to do to avoid something that might be misuse of bitcoin for illegal transactions and the government cannot track because of the special nature of bitcoin which has that facility.
But a good government can make regulations so that it can be tracked with rules where every use of bitcoin must be exchanged for the applicable fiat and on the local exchange, that's all that can be done.
But I agree with you that if it is indeed used illegally, both bitcoin and fiat can be done the same.
Many countries have made it easy to be used as an investment and trade, but legal use must be exchanged first into fiat.
I believe it is quite logical that governments seek to combat Bitcoin abuse with special rules since the currency is nearly impossible to track. I would like to second that, good regulation actually offers security and freedom of use like making fiat conversions at local exchanges for supervision. As we will see they can both be manipulated and thus require strict supervision, nevertheless the difference does exist. It also became easier to use Bitcoin for investment and trading if the countries meet the existing legal requirements.
Governments can certainly make bitcoin use free for everyone to invest and trade by enforcing existing laws. But any legal passed by the government of every country is looking at the profit of the government. So if the government wants to enforce any laws on the use of bitcoins, they must raise the issue of profit. We are making money in crypto and living life with that money. But the government always does more research on the negative aspects of an issue before accepting it. Since it is not possible to track someone with bitcoin transactions, there is a possibility of fraud. A lot of countries will support bitcoin in terms of country based business but we have to wait for a good news.
At the beginning of bitcoin's launch we saw many governments banning it because of concerns about bitcoin misuse. But eventually many countries have accepted bitcoin, because they think that when it is banned it becomes more expensive and more popular, it would be better for the government to allow it by being able to take tax from crypto transactions on local exchanges.
-
Technically yes, but governments plays major role in the adoption of they are against the crypto then they will enforce unfair tax rate that pushes the people from using it away that is why we also need government support to take the crypto to next level but the positive is if one government does something good it will effect the Bitcoin overall and it could even force other governments to follow the same.
I actually read a lot of complaints from crypto lovers who say that the crypto tax rates imposed by the government are too high. Is this true because the government is against crypto or is the government only using crypto to make state revenue from crypto taxes?
But in my opinion, the government accepting crypto and allowing it is enough for me, because if it is prohibited, we cannot invest and trade comfortably.
-
Technically yes, but governments plays major role in the adoption of they are against the crypto then they will enforce unfair tax rate that pushes the people from using it away that is why we also need government support to take the crypto to next level but the positive is if one government does something good it will effect the Bitcoin overall and it could even force other governments to follow the same.
I actually read a lot of complaints from crypto lovers who say that the crypto tax rates imposed by the government are too high. Is this true because the government is against crypto or is the government only using crypto to make state revenue from crypto taxes?
But in my opinion, the government accepting crypto and allowing it is enough for me, because if it is prohibited, we cannot invest and trade comfortably.
For many crypto enthusiasts, the tax rates introduced by the government seem quite high, and that is why the topic of whether the government is more keen on using the tax potential of crypto for raising revenues, or it has its own concerns regarding this specific digital asset. Nonetheless, for anyone who finds comfort in buying coins and tokens and interacting with blockchain-based systems among other things, official recognition and approval from the government is something of a blessing. At least, we can transact and invest without insecurity knowing that prohibition has reduced the freedom that is associated with digital assets.
-
Technically yes, but governments plays major role in the adoption of they are against the crypto then they will enforce unfair tax rate that pushes the people from using it away that is why we also need government support to take the crypto to next level but the positive is if one government does something good it will effect the Bitcoin overall and it could even force other governments to follow the same.
I actually read a lot of complaints from crypto lovers who say that the crypto tax rates imposed by the government are too high. Is this true because the government is against crypto or is the government only using crypto to make state revenue from crypto taxes?
But in my opinion, the government accepting crypto and allowing it is enough for me, because if it is prohibited, we cannot invest and trade comfortably.
true, there are many complaints from crypto enthusiasts about the high taxes set by the government for crypto traders and investors. in my opinion the government is not against it, in fact they benefit greatly from the existence of crypto, they can increase their income and they set high taxes because the price of crypto is very valuable, it's just that this only applies to certain countries and does not apply to all countries, depending on the government of a country.
-
Technically yes, but governments plays major role in the adoption of they are against the crypto then they will enforce unfair tax rate that pushes the people from using it away that is why we also need government support to take the crypto to next level but the positive is if one government does something good it will effect the Bitcoin overall and it could even force other governments to follow the same.
I actually read a lot of complaints from crypto lovers who say that the crypto tax rates imposed by the government are too high. Is this true because the government is against crypto or is the government only using crypto to make state revenue from crypto taxes?
But in my opinion, the government accepting crypto and allowing it is enough for me, because if it is prohibited, we cannot invest and trade comfortably.
true, there are many complaints from crypto enthusiasts about the high taxes set by the government for crypto traders and investors. in my opinion the government is not against it, in fact they benefit greatly from the existence of crypto, they can increase their income and they set high taxes because the price of crypto is very valuable, it's just that this only applies to certain countries and does not apply to all countries, depending on the government of a country.
Each country's policy is different in determining the amount of tax imposed on crypto transactions. The tax is one of the sources of government revenue, so at least crypto contributes tax to the government. Although there are complaints that the tax is too high, but by imposing tax at least the government has allowed crypto in the country.
-
Technically yes, but governments plays major role in the adoption of they are against the crypto then they will enforce unfair tax rate that pushes the people from using it away that is why we also need government support to take the crypto to next level but the positive is if one government does something good it will effect the Bitcoin overall and it could even force other governments to follow the same.
I actually read a lot of complaints from crypto lovers who say that the crypto tax rates imposed by the government are too high. Is this true because the government is against crypto or is the government only using crypto to make state revenue from crypto taxes?
But in my opinion, the government accepting crypto and allowing it is enough for me, because if it is prohibited, we cannot invest and trade comfortably.
true, there are many complaints from crypto enthusiasts about the high taxes set by the government for crypto traders and investors. in my opinion the government is not against it, in fact they benefit greatly from the existence of crypto, they can increase their income and they set high taxes because the price of crypto is very valuable, it's just that this only applies to certain countries and does not apply to all countries, depending on the government of a country.
Each country's policy is different in determining the amount of tax imposed on crypto transactions. The tax is one of the sources of government revenue, so at least crypto contributes tax to the government. Although there are complaints that the tax is too high, but by imposing tax at least the government has allowed crypto in the country.
The different tax regimes present by each country indicates that governments are slowly recognizing crypto as one of the established economy. When paying taxes, we can be assured because this shows that there are laws regulating the conducting of economies hence expecting cryptos to operate under specific rules. To my mind, it will always be helpful that, despite certain extra expenses, crypto goes through the process of taxes, it can be recognized as legal and, thus, we will be protected from above as investors.
Moreover, taxes arising from cryptocurrencies can open opportunities for improvement in every country to develop. The money we spend in tax forms part of the contributions we make towards the improvement of structures and services. In this way, our crypto investments are not only selfish and profitable for individual members but also serve the interest of economic development. This means creating a cycle where we as investors help these countries incorporate crypto as part of their regulations.
-
The different tax regimes present by each country indicates that governments are slowly recognizing crypto as one of the established economy. When paying taxes, we can be assured because this shows that there are laws regulating the conducting of economies hence expecting cryptos to operate under specific rules. To my mind, it will always be helpful that, despite certain extra expenses, crypto goes through the process of taxes, it can be recognized as legal and, thus, we will be protected from above as investors.
Moreover, taxes arising from cryptocurrencies can open opportunities for improvement in every country to develop. The money we spend in tax forms part of the contributions we make towards the improvement of structures and services. In this way, our crypto investments are not only selfish and profitable for individual members but also serve the interest of economic development. This means creating a cycle where we as investors help these countries incorporate crypto as part of their regulations.
The story of taxes can come with many important issues:
1. Confirmation of the government recognition of the legal existence of crypto.
2. Crypto taxes should be used to manage and develop the crypto market, not just for national development.
3. The tax rate reflects the government friendliness towards crypto. Sometimes governments only accept crypto under pressure from the people but then maintain extremely high taxes, for example, 42% to disappoint investors and gradually make them leave this market and the crypto market will be gradually eliminated without the government being blamed.
Therefore, even when the government accepts and collects crypto taxes, investors also need to be sober to protect their own interests in the future, especially in the face of unreasonably high tax rates!
-
Technically yes, but governments plays major role in the adoption of they are against the crypto then they will enforce unfair tax rate that pushes the people from using it away that is why we also need government support to take the crypto to next level but the positive is if one government does something good it will effect the Bitcoin overall and it could even force other governments to follow the same.
I actually read a lot of complaints from crypto lovers who say that the crypto tax rates imposed by the government are too high. Is this true because the government is against crypto or is the government only using crypto to make state revenue from crypto taxes?
But in my opinion, the government accepting crypto and allowing it is enough for me, because if it is prohibited, we cannot invest and trade comfortably.
Governments can use taxation system as a tool to discourage people from doing something that is why they impose taxes heavily on certain things like cigars, liquor and etc which means they can't stop them completely even if they ban so they are indirectly mentioning people to pay more if they want to use it and if they applied heavy taxes like 30 or 40% capital gains then people will look for other options than crypto which will definitely affect the adoption rate even though It doesn't stop them.
-
I did not read what you wrote I only read the blue write up.
But I want to make my comment from your topic that says crypto market can exist without government permission . I don't think that's true, crypto market can never exist in a country where the government has issued a ban to it. For example for years now nobody does crypto legally in china cause there government kicked against it. Any country operating in crypto market legally means it is the choice of the government.
-
Technically yes, but governments plays major role in the adoption of they are against the crypto then they will enforce unfair tax rate that pushes the people from using it away that is why we also need government support to take the crypto to next level but the positive is if one government does something good it will effect the Bitcoin overall and it could even force other governments to follow the same.
I actually read a lot of complaints from crypto lovers who say that the crypto tax rates imposed by the government are too high. Is this true because the government is against crypto or is the government only using crypto to make state revenue from crypto taxes?
But in my opinion, the government accepting crypto and allowing it is enough for me, because if it is prohibited, we cannot invest and trade comfortably.
Governments can use taxation system as a tool to discourage people from doing something that is why they impose taxes heavily on certain things like cigars, liquor and etc which means they can't stop them completely even if they ban so they are indirectly mentioning people to pay more if they want to use it and if they applied heavy taxes like 30 or 40% capital gains then people will look for other options than crypto which will definitely affect the adoption rate even though It doesn't stop them.
I agree with your comment, the government uses a high tax system as a tool to prevent someone from doing something, because with high taxes they will try to invest in other ways or not buy the goods such as cigarettes, alcohol, etc. Currently crypto is also subject to high taxes. This can be said that the government does not fully support crypto, but takes advantage of the busy crypto transactions.
-
It is a natural thing for the government to do to avoid something that might be misuse of bitcoin for illegal transactions and the government cannot track because of the special nature of bitcoin which has that facility.
But a good government can make regulations so that it can be tracked with rules where every use of bitcoin must be exchanged for the applicable fiat and on the local exchange, that's all that can be done.
But I agree with you that if it is indeed used illegally, both bitcoin and fiat can be done the same.
Many countries have made it easy to be used as an investment and trade, but legal use must be exchanged first into fiat.
I believe it is quite logical that governments seek to combat Bitcoin abuse with special rules since the currency is nearly impossible to track. I would like to second that, good regulation actually offers security and freedom of use like making fiat conversions at local exchanges for supervision. As we will see they can both be manipulated and thus require strict supervision, nevertheless the difference does exist. It also became easier to use Bitcoin for investment and trading if the countries meet the existing legal requirements.
It is natural that governments must provide protection for the state and citizens to avoid possible abuse, because the nature of bitcoin cannot be intervened by anything caused by bitcoin.
It is more effective with clear regulations, where the easiest and most feasible thing is that every transaction exchanged for fiat must go through a local exchange recognized by the government, so that there is supervision of transactions that can be seen and intervention can be carried out if necessary.
-
It is a natural thing for the government to do to avoid something that might be misuse of bitcoin for illegal transactions and the government cannot track because of the special nature of bitcoin which has that facility.
But a good government can make regulations so that it can be tracked with rules where every use of bitcoin must be exchanged for the applicable fiat and on the local exchange, that's all that can be done.
But I agree with you that if it is indeed used illegally, both bitcoin and fiat can be done the same.
Many countries have made it easy to be used as an investment and trade, but legal use must be exchanged first into fiat.
I believe it is quite logical that governments seek to combat Bitcoin abuse with special rules since the currency is nearly impossible to track. I would like to second that, good regulation actually offers security and freedom of use like making fiat conversions at local exchanges for supervision. As we will see they can both be manipulated and thus require strict supervision, nevertheless the difference does exist. It also became easier to use Bitcoin for investment and trading if the countries meet the existing legal requirements.
It is natural that governments must provide protection for the state and citizens to avoid possible abuse, because the nature of bitcoin cannot be intervened by anything caused by bitcoin.
It is more effective with clear regulations, where the easiest and most feasible thing is that every transaction exchanged for fiat must go through a local exchange recognized by the government, so that there is supervision of transactions that can be seen and intervention can be carried out if necessary.
I agree with you, the easiest thing that the government can do to monitor crypto is to work with local exchanges to find out crypto to FIAT exchange transactions. So the identity of each user can be known by the government. This will make it uncomfortable for those who use crypto as illegal activities. But for me personally because I only do legal transactions, I am comfortable with this rule.
-
I did not read what you wrote I only read the blue write up.
But I want to make my comment from your topic that says crypto market can exist without government permission . I don't think that's true, crypto market can never exist in a country where the government has issued a ban to it. For example for years now nobody does crypto legally in china cause there government kicked against it. Any country operating in crypto market legally means it is the choice of the government.
The government play a good role in cryptocurrency either we like it or not. Bitcoin used to roll around $40 to $50k but all of a sudden when Donald Trump started his Bitcoin support, Bitcoin gain traction and now thag he has won the election, Bitcoin has pumped to above $90k and heading towards $100k, that's government influence on Bitcoin.
When Kamala was in there, they didn't has this influence Donald Trump has on Bitcoin. If tomorrow Trump get to the office and ban Bitcoin, the damage it will do to the price is going to be very bad for Bitcoin price.
-
It is a natural thing for the government to do to avoid something that might be misuse of bitcoin for illegal transactions and the government cannot track because of the special nature of bitcoin which has that facility.
But a good government can make regulations so that it can be tracked with rules where every use of bitcoin must be exchanged for the applicable fiat and on the local exchange, that's all that can be done.
But I agree with you that if it is indeed used illegally, both bitcoin and fiat can be done the same.
Many countries have made it easy to be used as an investment and trade, but legal use must be exchanged first into fiat.
I believe it is quite logical that governments seek to combat Bitcoin abuse with special rules since the currency is nearly impossible to track. I would like to second that, good regulation actually offers security and freedom of use like making fiat conversions at local exchanges for supervision. As we will see they can both be manipulated and thus require strict supervision, nevertheless the difference does exist. It also became easier to use Bitcoin for investment and trading if the countries meet the existing legal requirements.
It is natural that governments must provide protection for the state and citizens to avoid possible abuse, because the nature of bitcoin cannot be intervened by anything caused by bitcoin.
It is more effective with clear regulations, where the easiest and most feasible thing is that every transaction exchanged for fiat must go through a local exchange recognized by the government, so that there is supervision of transactions that can be seen and intervention can be carried out if necessary.
I agree with you, the easiest thing that the government can do to monitor crypto is to work with local exchanges to find out crypto to FIAT exchange transactions. So the identity of each user can be known by the government. This will make it uncomfortable for those who use crypto as illegal activities. But for me personally because I only do legal transactions, I am comfortable with this rule.
If the government can watch crypto by partnering with local exchanges then there exists the possibility that the government will use this to track crypto to FIAT, this may raise some concern among users. This is why many people are wary, which is understandable given that each user’s personal data is sometimes indicated. I also get the impression that quite a number of people in my country employ crypto to evade state tax. In any case, it is necessary to be careful because this rule can affect practically all users of cryptocurrencies in terms of both the density of negative and positive consequences.
-
It is natural that governments must provide protection for the state and citizens to avoid possible abuse, because the nature of bitcoin cannot be intervened by anything caused by bitcoin.
It is more effective with clear regulations, where the easiest and most feasible thing is that every transaction exchanged for fiat must go through a local exchange recognized by the government, so that there is supervision of transactions that can be seen and intervention can be carried out if necessary.
It needs to be noted that the government has an apparent task of preventing abuses for the country as well as society, especially as regards to bitcoin elements that cannot be intervened. It will also be very useful for regulatory certainty to be provided perhaps if Crypto to fiat transactions are done through locally, licensed exchanges. Thus, intervention on the transactions turns into easier control and can be made if and only if needed to ensure security and transparency.
-
I did not read what you wrote I only read the blue write up.
But I want to make my comment from your topic that says crypto market can exist without government permission . I don't think that's true, crypto market can never exist in a country where the government has issued a ban to it. For example for years now nobody does crypto legally in china cause there government kicked against it. Any country operating in crypto market legally means it is the choice of the government.
The government play a good role in cryptocurrency either we like it or not. Bitcoin used to roll around $40 to $50k but all of a sudden when Donald Trump started his Bitcoin support, Bitcoin gain traction and now thag he has won the election, Bitcoin has pumped to above $90k and heading towards $100k, that's government influence on Bitcoin.
When Kamala was in there, they didn't has this influence Donald Trump has on Bitcoin. If tomorrow Trump get to the office and ban Bitcoin, the damage it will do to the price is going to be very bad for Bitcoin price.
You are right, government support will affect crypto. because with the support of the government, especially a big country like the US, the price of bitcoin reaches its ATH. Trump has made a good decision during the campaign to support bitcoin and will make the US a [bitcoin center so that the price of bitcoin skyrocketed when the vote count for Trump won the US presidential election.
-
You are right, government support will affect crypto. because with the support of the government, especially a big country like the US, the price of bitcoin reaches its ATH. Trump has made a good decision during the campaign to support bitcoin and will make the US a [bitcoin center so that the price of bitcoin skyrocketed when the vote count for Trump won the US presidential election.
We have seen it now, Trump promised to support bitcoin and make the US a bitcoin center and even fired SEC officials for doing many things that hinder the development of crypto. With that campaign promise when Trump won the presidential election, the price of bitcoin soared and touched ATH, so I also agree that government support will affect the price of crypto because investing needs to be comfortable for its citizens.
-
We have seen it now, Trump promised to support bitcoin and make the US a bitcoin center and even fired SEC officials for doing many things that hinder the development of crypto. With that campaign promise when Trump won the presidential election, the price of bitcoin soared and touched ATH, so I also agree that government support will affect the price of crypto because investing needs to be comfortable for its citizens.
Yes, that's what we've confirmed: crypto can still exist without government approval, but it's difficult to thrive. Government support is something the crypto community hopes for and welcomes, or in a normal case, as long as it's not suppressed, crypto will develop based on its real value.
We've witnessed the positive impact that BTC has brought to El Salvador, and I'm also waiting for a similar miracle for the US under Trump ^^
-
We have seen it now, Trump promised to support bitcoin and make the US a bitcoin center and even fired SEC officials for doing many things that hinder the development of crypto. With that campaign promise when Trump won the presidential election, the price of bitcoin soared and touched ATH, so I also agree that government support will affect the price of crypto because investing needs to be comfortable for its citizens.
Yes, that's what we've confirmed: crypto can still exist without government approval, but it's difficult to thrive. Government support is something the crypto community hopes for and welcomes, or in a normal case, as long as it's not suppressed, crypto will develop based on its real value.
We've witnessed the positive impact that BTC has brought to El Salvador, and I'm also waiting for a similar miracle for the US under Trump ^^
We all know that when bitcoin was first launched, governments in almost all countries banned bitcoin from circulating in their countries, but in reality bitcoin is getting more expensive and more people own it. The popularity of bitcoin increased until finally the government accepted bitcoin as an investment for its citizens.
That's what makes us think that maybe bitcoin and crypto will still exist without government support, but it will be difficult to develop.
And recently we saw when Trump said he would support bitcoin during the US presidential campaign, making the price of bitcoin touch ATH when Trump was announced as the winner of the US presidential election.
-
You are right, government support will affect crypto. because with the support of the government, especially a big country like the US, the price of bitcoin reaches its ATH. Trump has made a good decision during the campaign to support bitcoin and will make the US a [bitcoin center so that the price of bitcoin skyrocketed when the vote count for Trump won the US presidential election.
We have seen it now, Trump promised to support bitcoin and make the US a bitcoin center and even fired SEC officials for doing many things that hinder the development of crypto. With that campaign promise when Trump won the presidential election, the price of bitcoin soared and touched ATH, so I also agree that government support will affect the price of crypto because investing needs to be comfortable for its citizens.
The influence of the US government towards cryptocurrencies is positive and that support meant a lot to influence the feeling of people in investing . Such policies would open the doors to tremendous development of such technologies as digital currencies. If such regulations are clearer, then this will not only attract interest from investors but also increase the place of the crypto market at the international level. From this it is clear that government investment and participation, if channelled correctly, can generate a stable and healthy environment for every link in the chain.
-
It is a natural thing for the government to do to avoid something that might be misuse of bitcoin for illegal transactions and the government cannot track because of the special nature of bitcoin which has that facility.
But a good government can make regulations so that it can be tracked with rules where every use of bitcoin must be exchanged for the applicable fiat and on the local exchange, that's all that can be done.
But I agree with you that if it is indeed used illegally, both bitcoin and fiat can be done the same.
Many countries have made it easy to be used as an investment and trade, but legal use must be exchanged first into fiat.
I believe it is quite logical that governments seek to combat Bitcoin abuse with special rules since the currency is nearly impossible to track. I would like to second that, good regulation actually offers security and freedom of use like making fiat conversions at local exchanges for supervision. As we will see they can both be manipulated and thus require strict supervision, nevertheless the difference does exist. It also became easier to use Bitcoin for investment and trading if the countries meet the existing legal requirements.
It is natural that governments must provide protection for the state and citizens to avoid possible abuse, because the nature of bitcoin cannot be intervened by anything caused by bitcoin.
It is more effective with clear regulations, where the easiest and most feasible thing is that every transaction exchanged for fiat must go through a local exchange recognized by the government, so that there is supervision of transactions that can be seen and intervention can be carried out if necessary.
I agree with you, the easiest thing that the government can do to monitor crypto is to work with local exchanges to find out crypto to FIAT exchange transactions. So the identity of each user can be known by the government. This will make it uncomfortable for those who use crypto as illegal activities. But for me personally because I only do legal transactions, I am comfortable with this rule.
Regulations must indeed be made by the government with the aim of the good of its people and the government itself, although there may be many who deviate from the regulations that are already available and that is legitimate because it can be done.
But as a good society, there are times when we must support regulations that are made for the purpose of goodness.
The most effective way is to require exchange for fiat on local exchanges so that it can be known for the purpose of goodness.
-
The influence of the US government towards cryptocurrencies is positive and that support meant a lot to influence the feeling of people in investing . Such policies would open the doors to tremendous development of such technologies as digital currencies. If such regulations are clearer, then this will not only attract interest from investors but also increase the place of the crypto market at the international level. From this it is clear that government investment and participation, if channelled correctly, can generate a stable and healthy environment for every link in the chain.
The state participation in the cryptocurrency world has a potential to bring a new level of trust for many participants. When regulations are clear we can understand it’s a new chance for increasing financial inclusion and environmentally friendly innovation. Those favorable policies will help create a good environment for investors to have confidence, as well as enhance the level of crypto market internationally. If cooperation with the government is in practice as it is here today, the value of bitcoin can return to the level of $97,600 and set a new record again.
Regulations must indeed be made by the government with the aim of the good of its people and the government itself, although there may be many who deviate from the regulations that are already available and that is legitimate because it can be done.
But as a good society, there are times when we must support regulations that are made for the purpose of goodness.
The most effective way is to require exchange for fiat on local exchanges so that it can be known for the purpose of goodness.
Policies that exist for similar purposes can significantly become one of the four pillars for building a safer and more credible economic climate. It is important to support local exchanges to play focal roles in all the digital financial transactions to enhance on transparency and enhance community participation in digital financial sector. The regulations that are let out have to have the government working together with the community so that people can enjoy the benefits which go along with economic growth together with the protection of every individual involved.
-
Regulations must indeed be made by the government with the aim of the good of its people and the government itself, although there may be many who deviate from the regulations that are already available and that is legitimate because it can be done.
But as a good society, there are times when we must support regulations that are made for the purpose of goodness.
The most effective way is to require exchange for fiat on local exchanges so that it can be known for the purpose of goodness.
The government is elected by the people, but sometimes the government's actions go against the interests of the people, such as deficit spending or having overly extreme and outdated views that cause difficulties for the overall economy. The issue of a legal framework for crypto is also such a problem: crypto can actually benefit users, but it threatens the power of the government and the government wants to regulate crypto in the same way they regulate fiat.
I think we will soon no longer have to worry about the negative impacts from the government, as governments will also soon FOMO and start accumulating BTC for their national reserves. Currently, I think we can focus on how we can use our experience to profit when crypto becomes more popular worldwide.
-
Regulations must indeed be made by the government with the aim of the good of its people and the government itself, although there may be many who deviate from the regulations that are already available and that is legitimate because it can be done.
But as a good society, there are times when we must support regulations that are made for the purpose of goodness.
The most effective way is to require exchange for fiat on local exchanges so that it can be known for the purpose of goodness.
The government makes regulations to protect its citizens in investing in crypto and also the regulations are useful for the government itself because it can collect taxes from crypto transactions. and the exchange of crypto to FIAT in the local exchange should be mandatory so that crypto is not misused for illegal activities.
-
The government makes regulations to protect its citizens in investing in crypto and also the regulations are useful for the government itself because it can collect taxes from crypto transactions. and the exchange of crypto to FIAT in the local exchange should be mandatory so that crypto is not misused for illegal activities.
The government also makes regulations so they can see the bad people in the crypto space. This is why they have mandated anyone interested in crypto to pass their KYC as done by the banks to be able to identify each customers so that once you violate the rules and regulations set aside, they can identify you without going much stress but that's not what crypto stand for.
The way institutional investors want crypto to go mainstream, it is highly possible but there is no way it will be possible without accepting the terms and conditions of the government and that is the only way to crypto to reach every corner of the world.
-
The government also makes regulations so they can see the bad people in the crypto space. This is why they have mandated anyone interested in crypto to pass their KYC as done by the banks to be able to identify each customers so that once you violate the rules and regulations set aside, they can identify you without going much stress but that's not what crypto stand for.
The way institutional investors want crypto to go mainstream, it is highly possible but there is no way it will be possible without accepting the terms and conditions of the government and that is the only way to crypto to reach every corner of the world.
Well, this reminds me of many mistakes I made in the past. I used to believe that blockchain and crypto would change the world and I needed to keep my information private because blockchain aims for decentralization and anonymity. That's why I didn't do KYC on any CEXs in 2017 and 2018. As a result, I missed the opportunity to sell many tokens at a good price, and when I realized the problem, my account had decreased by 90% due to the crypto winter and I couldn't do anything to save it.
Governments will always find ways to regulate markets, including the crypto market. They have enough ways to prevent or limit negative issues that may arise in this market and we have to get used to them. In the end, if the government has accepted crypto and we decide to seek profits from crypto, we also have to play by the government rules.
-
The government also makes regulations so they can see the bad people in the crypto space. This is why they have mandated anyone interested in crypto to pass their KYC as done by the banks to be able to identify each customers so that once you violate the rules and regulations set aside, they can identify you without going much stress but that's not what crypto stand for.
The way institutional investors want crypto to go mainstream, it is highly possible but there is no way it will be possible without accepting the terms and conditions of the government and that is the only way to crypto to reach every corner of the world.
I agree with the government making regulations so that the misuse of crypto can be reduced because we know that if there is no KYC on the local exchange, the government will find it difficult to track suspicious transactions. and currently the government has collaborated with local exchanges, and the government should require crypto investors to transact on local exchanges in converting their crypto assets to FIAT.
but we know that someone can do many ways to circumvent existing regulations, but at least the government's steps to make regulations can reduce it.
-
-
The government makes regulations to protect its citizens in investing in crypto and also the regulations are useful for the government itself because it can collect taxes from crypto transactions. and the exchange of crypto to FIAT in the local exchange should be mandatory so that crypto is not misused for illegal activities.
It is natural that the government will provide protection for its citizens and, of course, for the interests of the country itself, with regulations made so that there is a sense of security for all parties, although it may not be able to satisfy everyone. The government is obliged to make these regulations.
I think there are many options that can be made by the government, but it seems that the thing and easy to do is to empower local exchanges, so that every transaction in fiat is required to be transacted on local exchanges. The benefits obtained are from the tax sector and at least a little can control illegal transactions.
-
I agree with the government making regulations so that the misuse of crypto can be reduced because we know that if there is no KYC on the local exchange, the government will find it difficult to track suspicious transactions. and currently the government has collaborated with local exchanges, and the government should require crypto investors to transact on local exchanges in converting their crypto assets to FIAT.
but we know that someone can do many ways to circumvent existing regulations, but at least the government's steps to make regulations can reduce it.
This measure by the government for controlling the cryptocurrencies’ transactions is a move that give more directions and even more shield to all the stakeholders. With such regulations and the conversion of assets to fiat on the local exchanges, transparency enhances, and chances of unfair usage, can be reduced. While there are points left for contingents to navigate, they still make this regulation a solid foundation for building the tried and trusted environment of crypto assets. In helping to effect this step we can persist with applying the legislation currently in force while also advocating for enhancement of that framework in the coming future.
It is natural that the government will provide protection for its citizens and, of course, for the interests of the country itself, with regulations made so that there is a sense of security for all parties, although it may not be able to satisfy everyone. The government is obliged to make these regulations.
I think there are many options that can be made by the government, but it seems that the thing and easy to do is to empower local exchanges, so that every transaction in fiat is required to be transacted on local exchanges. The benefits obtained are from the tax sector and at least a little can control illegal transactions.
Measures taken by the government for now depict a good effort of safeguarding the community in the crypto environment all without compromising the stability of the economy. Through central authorization of local exchanges as one of the tool, transaction supervision becomes more institutionalised and a tax base which can be useful for national development can be achieved. Such policies offer fairness in the treatment of citizens and the handling of the digital assets so that all stakeholders can enjoy tangible benefits in a fast growing community.
-
I agree with the government making regulations so that the misuse of crypto can be reduced because we know that if there is no KYC on the local exchange, the government will find it difficult to track suspicious transactions. and currently the government has collaborated with local exchanges, and the government should require crypto investors to transact on local exchanges in converting their crypto assets to FIAT.
but we know that someone can do many ways to circumvent existing regulations, but at least the government's steps to make regulations can reduce it.
We want to see crypto grow, so we have to accept sacrificing a part of decentralization and anonymity to cooperate with governments and CEXs. The period of criticizing governments and threatening fiat has ended, now crypto needs to be regulated to become stronger.
Today, we are not saying that the government should stay out of the market, we are asking the government to have a suitable legal framework for the development of crypto, at the same time we want the government to self-control its greed and collect appropriate taxes. Imposing excessively high crypto taxes is also a way to limit the development of this market!
-
It is natural that the government will provide protection for its citizens and, of course, for the interests of the country itself, with regulations made so that there is a sense of security for all parties, although it may not be able to satisfy everyone. The government is obliged to make these regulations.
I think there are many options that can be made by the government, but it seems that the thing and easy to do is to empower local exchanges, so that every transaction in fiat is required to be transacted on local exchanges. The benefits obtained are from the tax sector and at lIt is reasonable for the current government to do this because it is indeed in an effort to maintain good stability and stabilize the economy without sacrificing the existence of crypto itself. agreeing, with the central authority can provide flexibility for local exchanges to be able to play an active role, so that from there, stability can occur and, of course, to be able to benefit from the taxes imposed without reducing the applicable regulations so that citizens can still be guaranteedeast a little can control illegal transactions.
Measures taken by the government for now depict a good effort of safeguarding the community in the crypto environment all without compromising the stability of the economy. Through central authorization of local exchanges as one of the tool, transaction supervision becomes more institutionalised and a tax base which can be useful for national development can be achieved. Such policies offer fairness in the treatment of citizens and the handling of the digital assets so that all stakeholders can enjoy tangible benefits in a fast growing community.
It is reasonable for the current government to do this because it is indeed in an effort to maintain good stability and stabilize the economy without sacrificing the existence of crypto itself. agreeing, with the central authority can provide flexibility for local exchanges to be able to play an active role, so that from there, stability can occur and, of course, to be able to benefit from the taxes imposed without reducing the applicable regulations so that citizens can still be guaranteed
-
It is reasonable for the current government to do this because it is indeed in an effort to maintain good stability and stabilize the economy without sacrificing the existence of crypto itself. agreeing, with the central authority can provide flexibility for local exchanges to be able to play an active role, so that from there, stability can occur and, of course, to be able to benefit from the taxes imposed without reducing the applicable regulations so that citizens can still be guaranteed
We have many examples of how to integrate crypto into the economy to create a positive impact on the country, such as El Salvador crypto policy or the EU MiCA. We still only talk about crypto and not crypto-currency so that crypto does not come with the goal of replacing fiat in the economy.
Governments are chosen by the people and will not dare to go against the people wishes in the long run. Accepting crypto is something they will naturally have to do, it's just a matter of time and the legal framework they will use to manage and benefit from this new market.
-
Governments are chosen by the people and will not dare to go against the people wishes in the long run. Accepting crypto is something they will naturally have to do, it's just a matter of time and the legal framework they will use to manage and benefit from this new market.
Accepting Bitcoin is one thing and making a regulation that will makes it looks like the way it's is another thing. The government can't be trusted and that's why Bitcoin even existed in the beginning before it went to the main stream where instsit investor want to be here with crypto but because of the absence of regulation, the government doesn't has a say.
If something has government approval, know for sure that it's something they have to control and this why as we ask for government adoption, they counter it with regulation so they can monitor everything around it.
-
Governments are chosen by the people and will not dare to go against the people wishes in the long run. Accepting crypto is something they will naturally have to do, it's just a matter of time and the legal framework they will use to manage and benefit from this new market.
Accepting Bitcoin is one thing and making a regulation that will makes it looks like the way it's is another thing. The government can't be trusted and that's why Bitcoin even existed in the beginning before it went to the main stream where instsit investor want to be here with crypto but because of the absence of regulation, the government doesn't has a say.
If something has government approval, know for sure that it's something they have to control and this why as we ask for government adoption, they counter it with regulation so they can monitor everything around it.
Bitcoin is recognised as a freedom of finance, but its existence in the world governed by governments means it has rather intricate relationships. The concept of regulation is actually something that can provide a bridge here, to help facilitate wider adoption, without removing the core principles of decentralisation. To encourage openness in this process of regulation, more so in the framework involving communities and governments, we can make it a point that the above transparency is in full practise to regulate as a team. Thus, it is possible to establish an environment in which no one will be harmed and at the same time preserve the fundamentals of platform development and freedom inherent in Bitcoin.
-
Governments are chosen by the people and will not dare to go against the people wishes in the long run. Accepting crypto is something they will naturally have to do, it's just a matter of time and the legal framework they will use to manage and benefit from this new market.
Accepting Bitcoin is one thing and making a regulation that will makes it looks like the way it's is another thing. The government can't be trusted and that's why Bitcoin even existed in the beginning before it went to the main stream where instsit investor want to be here with crypto but because of the absence of regulation, the government doesn't has a say.
If something has government approval, know for sure that it's something they have to control and this why as we ask for government adoption, they counter it with regulation so they can monitor everything around it.
No one can control bitcoin even though the government legalizes bitcoin but no one can control bitcoin, the government only makes regulations so that citizens feel comfortable investing in bitcoin and the government can collect taxes from transactions on local exchanges. that's what I've understood so far, because centralized technology cannot be controlled by anyone.
-
No one can control bitcoin even though the government legalizes bitcoin but no one can control bitcoin, the government only makes regulations so that citizens feel comfortable investing in bitcoin and the government can collect taxes from transactions on local exchanges. that's what I've understood so far, because centralized technology cannot be controlled by anyone.
Yeah, governments have been forced to accept BTC & crypto under pressure from the investment community and they also want to collect crypto taxes to enrich their budgets. What makes BTC valuable is that it doesn't belong to any government or country, BTC is operated by thousands of decentralized nodes and is not subject to the direction of any presidents or political groups.
Currently, we are no longer worried about extreme bans from governments, we are just watching how they approach this market in the race to adopt crypto. If this race becomes fierce, BTC price will increase sharply when the supply cannot meet the demand of greedy governments.
-
No one can control bitcoin even though the government legalizes bitcoin but no one can control bitcoin, the government only makes regulations so that citizens feel comfortable investing in bitcoin and the government can collect taxes from transactions on local exchanges. that's what I've understood so far, because centralized technology cannot be controlled by anyone.
Yeah, governments have been forced to accept BTC & crypto under pressure from the investment community and they also want to collect crypto taxes to enrich their budgets. What makes BTC valuable is that it doesn't belong to any government or country, BTC is operated by thousands of decentralized nodes and is not subject to the direction of any presidents or political groups.
Currently, we are no longer worried about extreme bans from governments, we are just watching how they approach this market in the race to adopt crypto. If this race becomes fierce, BTC price will increase sharply when the supply cannot meet the demand of greedy governments.
I agree with you who make bitcoin valuable because bitcoin is owned by the government and we can have financial freedom from bitcoin because the technology is decentralized from bitcoin.
Currently the government is forced to accept this technological surprise because the crypto community is already large in every country, so whether they like it or not the government must make rules and accept bitcoin.
-
Governments are chosen by the people and will not dare to go against the people wishes in the long run. Accepting crypto is something they will naturally have to do, it's just a matter of time and the legal framework they will use to manage and benefit from this new market.
Accepting Bitcoin is one thing and making a regulation that will makes it looks like the way it's is another thing. The government can't be trusted and that's why Bitcoin even existed in the beginning before it went to the main stream where instsit investor want to be here with crypto but because of the absence of regulation, the government doesn't has a say.
If something has government approval, know for sure that it's something they have to control and this why as we ask for government adoption, they counter it with regulation so they can monitor everything around it.
The government can only monitor crypto transactions on local exchanges, so we don't need to worry about government regulations. because this actually makes investors safer and more comfortable in investing because the government can accept bitcoin and crypto as investments from its citizens.
The government always takes taxes from our transactions on local exchanges and that makes us have to let our profits be taken by the government as compensation from the government allowing us to invest in crypto
-
No one can control bitcoin even though the government legalizes bitcoin but no one can control bitcoin, the government only makes regulations so that citizens feel comfortable investing in bitcoin and the government can collect taxes from transactions on local exchanges. that's what I've understood so far, because centralized technology cannot be controlled by anyone.
Yeah, governments have been forced to accept BTC & crypto under pressure from the investment community and they also want to collect crypto taxes to enrich their budgets. What makes BTC valuable is that it doesn't belong to any government or country, BTC is operated by thousands of decentralized nodes and is not subject to the direction of any presidents or political groups.
Currently, we are no longer worried about extreme bans from governments, we are just watching how they approach this market in the race to adopt crypto. If this race becomes fierce, BTC price will increase sharply when the supply cannot meet the demand of greedy governments.
I agree with you who make bitcoin valuable because bitcoin is owned by the government and we can have financial freedom from bitcoin because the technology is decentralized from bitcoin.
Currently the government is forced to accept this technological surprise because the crypto community is already large in every country, so whether they like it or not the government must make rules and accept bitcoin.
Government do pretty sure trying out to crack down Bitcoin before as it is already that making up some noise but still they have failed out on doing so and thats why now that they do realize that this is something that cant really be stopped then they do rather just simply accept it out because there's nothing they can do. They've seen that institutions are really that starting up to accept it out and there are ones who do make it as a legal tender on which signifies that there's so much trust into it and thats why its not really that not shocking that they will really be making up some other actions towards it and instead on trying to crack it directly, they do rather impose strict regulations into those services that offers or in correlates with crypto.
-
Government do pretty sure trying out to crack down Bitcoin before as it is already that making up some noise but still they have failed out on doing so and thats why now that they do realize that this is something that cant really be stopped then they do rather just simply accept it out because there's nothing they can do. They've seen that institutions are really that starting up to accept it out and there are ones who do make it as a legal tender on which signifies that there's so much trust into it and thats why its not really that not shocking that they will really be making up some other actions towards it and instead on trying to crack it directly, they do rather impose strict regulations into those services that offers or in correlates with crypto.
We are seeing many companies starting to accumulate BTC for their treasury, which is a good sign, but it will also make governments worried because the demand for holding government bonds from businesses will decrease. Governments will need to have many new policies to protect themselves while still having to accept crypto according to the wishes of the voters.
Typically, governments will impose unreasonably high taxes, for example 28% or even 42%. I believe that those governments will need more feedback from the people to be able to adjust their greed. The South Korean government is doing a great job when they exempt crypto taxes for a few more years so that everyone can comfortably invest and enjoy all the profits from crypto.
-
Government do pretty sure trying out to crack down Bitcoin before as it is already that making up some noise but still they have failed out on doing so and thats why now that they do realize that this is something that cant really be stopped then they do rather just simply accept it out because there's nothing they can do. They've seen that institutions are really that starting up to accept it out and there are ones who do make it as a legal tender on which signifies that there's so much trust into it and thats why its not really that not shocking that they will really be making up some other actions towards it and instead on trying to crack it directly, they do rather impose strict regulations into those services that offers or in correlates with crypto.
The government initially rejected bitcoin because we read a lot of news that bitcoin was opposed by almost all countries. But now the government is trying to accept bitcoin because bitcoin is getting more famous.
There are even countries that allocate funds to buy bitcoin in large amounts.
So other countries' governments should consider accepting bitcoin and maybe in the future will allow bitcoin as a means of payment
-
The issue with the Nigerian government over crypto and it's users is the money that can be generated through the industry in a short period of time, either as an investor or trader. The crypto industry has shown a tremendous spark on financial freedom to the Nigerian users, and this is what came as a threat to the Nigerian government, that with this system, anyone can have financial freedom at ease.
This took time before the Nigerian citizens started developing interest in the crypto community due to the fear of scam and losing of money that can't be traced or regained. But now, they are high in the crypto industry.
The period of ban on crypto currency in Nigeria, gave a firm stand of the P2P system of trading.
Government do pretty sure trying out to crack down Bitcoin before as it is already that making up some noise but still they have failed out on doing so and thats why now that they do realize that this is something that cant really be stopped then they do rather just simply accept it out because there's nothing they can do. They've seen that institutions are really that starting up to accept it out and there are ones who do make it as a legal tender on which signifies that there's so much trust into it and thats why its not really that not shocking that they will really be making up some other actions towards it and instead on trying to crack it directly, they do rather impose strict regulations into those services that offers or in correlates with crypto.
The government initially rejected bitcoin because we read a lot of news that bitcoin was opposed by almost all countries. But now the government is trying to accept bitcoin because bitcoin is getting more famous.
There are even countries that allocate funds to buy bitcoin in large amounts.
So other countries' governments should consider accepting bitcoin and maybe in the future will allow bitcoin as a means of payment
Countries that has already accepted the use of Bitcoin and other crypto currencies are countries that has seen that the crypto industry has come to stay, and any ban placed on it, generates another idea or way that can byepass the ban without official trace. It is better for other countries to start making plans on accepting the use of crypto currencies and creating a way to control it's use to avoid illegal activities.
Any country fighting against Bitcoin and altcoins is probably fighting a vain fight, instead, they should start developing a means on how it can help the country's economy.
-
-snip-
Any country fighting against Bitcoin and altcoins is probably fighting a vain fight, instead, they should start developing a means on how it can help the country's economy.
Fighting against Bitcoin is like a person who doesn't even believe in technological advancements. Even China has now lifted the ban on bitcoin because they know the potential of bitcoin and its technology in the future.
Each country may have different regulations regarding bitcoin, but not to ban it and only provide appropriate regulations but still controllable, that's better.
-
Government do pretty sure trying out to crack down Bitcoin before as it is already that making up some noise but still they have failed out on doing so and thats why now that they do realize that this is something that cant really be stopped then they do rather just simply accept it out because there's nothing they can do. They've seen that institutions are really that starting up to accept it out and there are ones who do make it as a legal tender on which signifies that there's so much trust into it and thats why its not really that not shocking that they will really be making up some other actions towards it and instead on trying to crack it directly, they do rather impose strict regulations into those services that offers or in correlates with crypto.
The government initially rejected bitcoin because we read a lot of news that bitcoin was opposed by almost all countries. But now the government is trying to accept bitcoin because bitcoin is getting more famous.
There are even countries that allocate funds to buy bitcoin in large amounts.
So other countries' governments should consider accepting bitcoin and maybe in the future will allow bitcoin as a means of payment
The rising acceptance of bitcoin is evidence that this innovation holds much promise in revolutionising the way we trade and build wealth. It is still evident today that when utilised sufficiently controlled, bitcoin is evidence that such innovative currency can be adopted. It can also bring benefits for the other countries to review the prospects of bitcoins adoption for themselves.
It is possible to have clear and transparent rules that would help create a defensive working environment for the users and bring about extra economic returns. Those who work for the advancement of such technologies do not only adapt to the socially established tendencies, but also make ourselves ready for the better and more widely open world.
-
Fighting against Bitcoin is like a person who doesn't even believe in technological advancements. Even China has now lifted the ban on bitcoin because they know the potential of bitcoin and its technology in the future.
we know exactly why governments were hesitant in adopting bitcoin back then and it’s because of bitcoin’s decentralized nature that doesn’t allow them to gain full control of the network so they ban it completely but now they realize that the benefits outweigh largely the things they are scared of
Each country may have different regulations regarding bitcoin, but not to ban it and only provide appropriate regulations but still controllable, that's better.
the government won’t allow for complete control to be given to their citizens but at least this way they can still benefit from bitcoin if they don’t ban it and just regulate it
-
-snip-
Any country fighting against Bitcoin and altcoins is probably fighting a vain fight, instead, they should start developing a means on how it can help the country's economy.
Fighting against Bitcoin is like a person who doesn't even believe in technological advancements. Even China has now lifted the ban on bitcoin because they know the potential of bitcoin and its technology in the future.
Each country may have different regulations regarding bitcoin, but not to ban it and only provide appropriate regulations but still controllable, that's better.
I think every country will eventually accept bitcoin and tax crypto transactions on their local exchanges.
The government will have rules for bitcoin investors. And now the government in every country has started to accept and allow bitcoin, although some have not accepted bitcoin as a payment method.
-
I think every country will eventually accept bitcoin and tax crypto transactions on their local exchanges.
The government will have rules for bitcoin investors. And now the government in every country has started to accept and allow bitcoin, although some have not accepted bitcoin as a payment method.
This is evidence that with the development of digital asset adoptions such as Bitcoin, people globally are adopting a more opened financial system. It also promotes new thinking and creates chance for us to adopt technologies into our lives. Legislations to be provided by governments of various countries will be a gateway for these assets to be accepted by everybody while safeguarding the users from these risks. While some countries do not fully support it, future progress will be smooth due to the ongoing small strides. If further aid is provided we can turn this into an opportunity to have a more transparent and effective global financial system.
-
This is evidence that with the development of digital asset adoptions such as Bitcoin, people globally are adopting a more opened financial system. It also promotes new thinking and creates chance for us to adopt technologies into our lives. Legislations to be provided by governments of various countries will be a gateway for these assets to be accepted by everybody while safeguarding the users from these risks. While some countries do not fully support it, future progress will be smooth due to the ongoing small strides. If further aid is provided we can turn this into an opportunity to have a more transparent and effective global financial system.
The only major country that still bans crypto is China, but I believe they will soon re-accept crypto under pressure from the domestic investment community and the changing crypto policies of the US. China will not be content to be left behind in this financial wave, their extreme efforts in recent years have not created value, while crypto experiments in Hongkong are being welcomed and strongly supported by the people.
Ultimately, crypto can continue to exist without caring about the views of governments, while governments need to act quickly to avoid missing the opportunity to confirm their position in the crypto trend. We have actually come a long way in the development journey of this market, to the point where crypto is large enough to be bigger than governments.
-
This is evidence that with the development of digital asset adoptions such as Bitcoin, people globally are adopting a more opened financial system. It also promotes new thinking and creates chance for us to adopt technologies into our lives. Legislations to be provided by governments of various countries will be a gateway for these assets to be accepted by everybody while safeguarding the users from these risks. While some countries do not fully support it, future progress will be smooth due to the ongoing small strides. If further aid is provided we can turn this into an opportunity to have a more transparent and effective global financial system.
The only major country that still bans crypto is China, but I believe they will soon re-accept crypto under pressure from the domestic investment community and the changing crypto policies of the US. China will not be content to be left behind in this financial wave, their extreme efforts in recent years have not created value, while crypto experiments in Hongkong are being welcomed and strongly supported by the people.
Ultimately, crypto can continue to exist without caring about the views of governments, while governments need to act quickly to avoid missing the opportunity to confirm their position in the crypto trend. We have actually come a long way in the development journey of this market, to the point where crypto is large enough to be bigger than governments.
I believe after trump is inaugurated and supports bitcoin and crypto technology, China will likely consider it. And the Chinese government will accept and legalize bitcoin there.
This is just my analysis and prediction, because after all, Trump's influence will be great on the development of crypto next year.
-
This is evidence that with the development of digital asset adoptions such as Bitcoin, people globally are adopting a more opened financial system. It also promotes new thinking and creates chance for us to adopt technologies into our lives. Legislations to be provided by governments of various countries will be a gateway for these assets to be accepted by everybody while safeguarding the users from these risks. While some countries do not fully support it, future progress will be smooth due to the ongoing small strides. If further aid is provided we can turn this into an opportunity to have a more transparent and effective global financial system.
The only major country that still bans crypto is China, but I believe they will soon re-accept crypto under pressure from the domestic investment community and the changing crypto policies of the US. China will not be content to be left behind in this financial wave, their extreme efforts in recent years have not created value, while crypto experiments in Hongkong are being welcomed and strongly supported by the people.
Ultimately, crypto can continue to exist without caring about the views of governments, while governments need to act quickly to avoid missing the opportunity to confirm their position in the crypto trend. We have actually come a long way in the development journey of this market, to the point where crypto is large enough to be bigger than governments.
I believe after trump is inaugurated and supports bitcoin and crypto technology, China will likely consider it. And the Chinese government will accept and legalize bitcoin there.
This is just my analysis and prediction, because after all, Trump's influence will be great on the development of crypto next year.
This is always fascinating, especially if one gets to see certain large scale policy shifts potential, especially those involving heavyweights such as The Donald, Trump. Even though it is unpredictable whether the prices of crypto will rise, we may reason that measures that propel the adoption of cripto may motivate other nations to take similar actions. Bitcoin has become legal in many countries of the world and its legalisation in China can be a breakthrough, and can help establish the position of crypto technology stronger worldwide. Of course, these are still vague developments, but the chances must be pinned on the policies that have a positive effect on innovations in technologies and the ‘new’ digital economy. I believe the best way to maintain engagement with the development of this technology is to keep promoting and spreading awareness of its usage through education and debate even as I wait for the realisation of the idea.
-
I am sympathetic to the idea of an alternative, independent deflationary financial model. That's all fine, except for the nuances. The nuance is that our world is a fiat controlled centralized world. And that, unfortunately, moves us away from a reality where cryptocurrencies will become full participants in the fiat market.
As a simple example: tell me - can you now pay with cryptocurrency, for example, at least 75% of all necessary payments in your life? Utilities, school, gas up your car, buy basic foodstuffs?
The key problem is that most suppliers of goods and services CANNOT supply them for cryptocurrency.
-
I believe after trump is inaugurated and supports bitcoin and crypto technology, China will likely consider it. And the Chinese government will accept and legalize bitcoin there.
This is just my analysis and prediction, because after all, Trump's influence will be great on the development of crypto next year.
Yeah, this is the expectation of many investors because if we receive a huge inflows of capital from Chinese investors, the crypto market will develop faster and stronger. We have seen the positivity from Korean investors, and Chinese investors are equally wealthy and risk-tolerant, their participation will create an extremely vibrant crypto space like the ICO wave in 2017.
Legal maturity is a necessary thing that crypto needs to achieve to continue developing because it has grown large enough to be managed in a formal and serious manner. I am waiting for Trump actions: accepting BTC for the federal reserve budget, while enacting a clear legal framework to end the wild west era in crypto history ^^