Bitcoin Forum

With the current state of threat the banks has shown to it's citizens, and truckers, Canadians are now scared and no longer have a good trust in the banking system, this will lead to a whole lot down that ends pulling out their Fiat and buying Bitcoin.
This will be the first step to full bitcoin adoption in Canada!
If I we're to be there, I'd have done that a long long time... Financial Sovereignty is the key, besides Banks gives no profits.
#The revolution is coming and bitcoin is the future.
My advice here to all Canadians is to buy Bitcoin, Banks are of the past, Bitcoin is the future.

What has happened is that the government has taken quasi-dictatorial measures against those who do not act like they want. In theory for the common good, to get rid of the pandemic, which is more like an epidemic, and which is just now less dangerous than ever since the March 2020 outbreak. But if we look at the past, all dictators, even those who murdered millions of people, did it for a supposed common good.

And, yes, Bitcoin has provided a window of opportunity to break free from the clutches of the state.

I'm searching for articles that might have something to do with Canada and banking but I didn't see any resource that could possibly be related to your topic here, OP. I want to know and understand why you show and concluded that they have a crisis or disbelief in the banking system now. What's happening?

It would be beneficial for Canadians that they go to the decentralized part and make sure that they are free from it (if they are looking forward to controlling their own).

You'd see them news from New York times magazine's, get daily updates about it.
And about me criticizing the government, is this the best way to solve the problem by freezing their money ? To follow a vaccine rule or protocol ?
This will only get the people their scared resulting to take their money off bank's, if government can collaborate with banks to bring such a rule, sure they can do more worst than this.
Imagine wanting to get money off the ATM and your debit cards are been disabled for political reason, this hurts deeply please.

While banks in Canada have shown their ugly face one doesn't sees in the commercials, this can only be good for Bitcoin.

On the other hand, all this is caused by their government. And we have to also see that the current politicians (and the way they use democracies pretty much like dictatorships) are no longer good enough; in the way bitcoin is the evolutionary step from banking, we also need something more evolved than the current politicians.

I do not expect full adoption because the number of Canadians truly needing a move from Fiat to Cryptocurrencies is very small.  Even if they did move to Cryptocurrencies, taking into account what Canada's government has done to the protesters how are we supposed to hope that full adoption is happening?  It is not only the banks who are against us.  The entire leadership seems to turn against freedom at this point.

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Regards,
PrivacyG

With the Canadian banks having a hard time coping up with everything at the same time we are seeing market fluctuations in Bitcoins. Which can be a sign of sudden upset between the people. Understandably it is very scary because during 2021 some of the banks limited hours and even considered closing down portraying that they do not have much back up and considering the situation that it's Canada not any third world nation. Makes me scared thinking about the situation elsewhere. I do think that Canadians have to understand and try and adopt cryptocurrencies and not just that they also have to try and and adopt stable coins, Invest in other things that might be unrelated to the banks.

It's a surprise that Canadian government had to resort to such authoritarian measures against their own truckers. It's very very surprising because Canada is known as an epitome of democracy and equality. This is really sad to see such things are coming out from a country like Canada.

But if the government takes such drastic measures, then bitcoin is the answer to it. But they need to be very careful not to use any centralized bitcoin wallets like Coinbase.  Government can use their influence to close down centralized exchanges and wallet service providers.

From some of the news that I read, actually the conflict that occurred was only between the government and the truck drivers who carried out the convoy, and I didn't see it as a conflict that might spread to all regions in Canada, it is true that if the government would freeze the bank accounts of the protesters, but that doesn't mean other Canadians will withdraw all their fiat money from banks,  we still need conventional banks in that case, even if there is a complete adoption of bitcoin in the country, this is just my opinion because I saw what you say currently have no credible sources in my opinion.

It all depending on the bitcoin law in Canada. If the government has not encouraged the hodling of bitcoin it won't give them such choice. But the problem don't need to escalate because it is only about the few sector of the economy that is affected and should be resolved with the government and the truck drivers. Anyway the incident has brought Canada in the news lately.

from what i've read, the chaos that's going on in canada right now has nothing to do with their financial system. they only protested about the mandatory vaccination of truck drivers, that's all https://www.nytimes.com/live/2022/02/14/world/canada-protests-news

... but i can say that cryptocurrency is the financial system of the future, which sooner or later will be adopted by many people in the future.

That's the good thing about this - to make it even clear to people that banks - and the government are not your friends. If they have your money, they can use it against use. Don't forget that.


Yes they are prostesting about the vaxx mandate - to which their government responded by freezing bank accounts. Which in turn highlighted the need for alternatives to fiat.

Isn't it, Elon Musk has already taken care of the truck driver in Bitcoin matters, as reported here:Elon Musk–backed ‘freedom truckers’ in Canada get Bitcoin lifeline after GoFundMe freezes millions in donations (https://www.google.com/amp/s/fortune.com/2022/02/08/freedom-truckers-canada-bitcoin-lifeline-after-gofundme-freezes-donations/amp/), I think many roads lead to Rome, Canada is included in the list of 5 biggest Bitcoin users, if many investors and entrepreneurs outside guarantee Bitcoin users, it will not be bad for Bitcoin users even though the Bank has banned them.

Adoption is expected and it will only provide greater opportunities for Canadians to use a decentralized currency (bitcoin). Adoption is not meant to fight the dictatorship of the government but it is the need for a better financial system than the fiat system. Canadians now have the option of using bitcoin although not all of them want to use bitcoin as a means of payment for various reasons.

If these protests can influence the government's decision to regulate bitcoin, then I'm sure we won't see a very negative impact on the price. But I hope this is a good start for bitcoin in Canada as a means of payment allowed by the government.

Lately, there has been quite a lot of discussion about the authoritarian actions carried out by the Canadian bank, only because of the large amount with withdrawals divided into several addresses, but in fact it is monitored so that it is frozen. This action has sparked various speculations between the government, as well as banks which show an unsupportive attitude towards what is being done. Even though there is no need to freeze the account in question, if you really want to get tax, then cut it according to the applicable rules, not freezing all wallets that have access to Bitcoin, especially Bitcoin generated during fundraising.

I think that the government of Canada is absolutely wrong on the measures taken. After Omicron, a large part of the world has already been exposed to the virus and the variant resulted quite weak compared to the original COVID. I think it has been the best vaccine to date.

Now, what the protesters are doing is not a sensible way of protesting. It creates too much chaos and it seems frivolous and harming for the economy and image of Canada. I think is a result of a psychologically difficult year for everyone.

The OP have celebrated early and he doesn't think of what can happen next. Bitcoin can be legal now in Canada but if the government noticed that all people have switched to btc and they do not use fiats anymore, the Canadian government might get offended and they can release a new law to ban btc and punish people that are caught of using a btc.

This issue is not totally a big issue but the issue is only between the truck drivers and the government, that is why the banks hold their funds but other people should not worry because their funds wont get frozen. Not all people are going to hate the banks, governments or the fiats after they saw this. Let us not think in advanced.

It's not a good move from the canadian government. It's not a good one to freeze the wallet of people who hold the cryptocurrency. Instead they can make a law. Because they can get a law in a parliament.The percentage of tax can be get from the people. At the last government get huge money for the government which can be used for the welfare of the government. Freezing of wallet opinion should be changed by the government. It's only way to earn some tax from people.

That's what they're doing. They are the law and that's what they're implementing is based from what they think and there's no need to have it long to wait just to implement it.

It's not really a good move to freeze those accounts that might have been known to hold crypto. But they're into those protesters and that's the action that they're taking for them to mitigate the issue.

It's not the issue about taxation, it's more than that and the Canadian government doesn't care about it. They're only certain and targeting specific people.

Therefore, what is now being done by the Canadian government, especially the Bank, which blocks accounts will trigger a split. Until finally there will be pressure from the account holders who demand the freedom of their money. No wonder why the Bank always does this kind of thing. They don't easily come to terms with the finances generated from cryptocurrencies.

i just read the news, and I can tell that this is crazy stuff

...how can a president of a country with a democratic system do something like this?

things like this will make more people want to move to a decentralized financial system, where their wallets will not be able to be intervened by anyone

The question is if people will actually see this, people always defend these kind of actions by saying they have nothing to hide and that only criminals should be worried about it but this is not true, now everyone that does not think like the government in turn is not safe and could find that one day they have lost everything they have worked for just because they government decided so, which proves once again that letting any government have control of the money and the banking system is never a good idea.

     I'll tell you what's happening - Just a childishly egoistic leader suppressing simple protesters about COVID-19 related stuff using the banks as the way to make these poor people suffer. I don't know what is running inside this leader's head or the people around him who should be giving advices or whatsoever. This will inly turn the people of Canada against them and would only push the country into chaos. I pity the Canadians for having such a leader. On a side note, investing right now on cryptos while a good choice would he pretty difficult seeing that the banks are being strict at the moment. Lucky are those that have already planted seeds in this industry before all these stuff happened.

They are left with that only option to adopt bitcoin because if the state will freeze their accounts then they will snatch their living and the rights of their family and their food. If this will happen to them then better to adopt bitcoin.

Yes despite that banks have behaved this way with citizens in Canada ,I don't think it will stop them from keeping money with the bank at the end of the problem because banks are still playing certain roles but this issue will show that blockchain and bitcoin is the future where nobody will restrict the transaction and your hodlings are safe with out interference through blockchain.

if these is a totally legit information surely their second choice is to rely in bitcoin since bitcoin is very legal on their country as well .  And it will become a good choice because indeed they can get benefits from bitcoin than storing money from their banks which is currently very stricted at the moment.. So its not surprising if they will suddenly use bitcoin than keeping their money in the same place which despite always give them a problem..

Yes, unfortunately, countries that claim to be civilized and leaders of the civilized world carry out tyrannical economic and financial practices against their citizens. This clearly shows the flaws in the current financial system and the need to replace it with a decentralized system. Bitcoin is the solution and the Bitcoin revolution is coming. Yes, this is absolutely true, it will not take long to understand These tyrants believe that the Bitcoin revolution is irresistible and that Bitcoin will change the face of the financial and economic world.
Bitcoin = Financial Freedom

The world economy is gradually getting into a decentralised system but how that will happen I'm yet to know myself. Maybe we are going to get to a stage where youths and citizens will get on the street with placards with the imprint of bitcoin. This can happen, but some countries are already accepting this reality and making bitcoin legal, that's a way it will begin.

I understand that people are not seeing eye to eye in Canada right now.
People have many different opinions and I try to stay compassionate and not judge anyone.
I’m lucky, I feel like most of my friends are open but many people just don’t want to hear the other side.

I don’t trust them either, they are literally showing up their Poker Face. Nobody gonna understand what the Canadian government is up to. I never thought that Canada will pull off their faith from the crypto currencies. Currently major countries are already accepting the bitcoin. They might be imposing the rules and regulations but at least they are letting their people to use it. Why Canada is going so rogue is really mystery for me. I though Canada was the most friendly nation around the globe when it comes to acceptance of new things. They have amazing immigration policy but they are not able to immigrate the newest tech formed. Hilarious.

That means that people are ignorant and that they didn't have the proper education to be able to have that, in my opinion, it's better not to care about them because they're not going to change, instead spread your open mindedness elsewhere that you're appreciated. I think that people not seeing eye to eye is a good thing because with that kind of approach, we will be able to point out if someone's doing something wrong.

Is just that people have not been given proper assurance and they are so tired of the governments manipulating the information and generating their own versions of "truth". Now, when we need to have some faith in what goverments say and there is a lot a risk we can only observe that these are not doing any better, with plenty of contradictory information and senseless measures. That is why people feel cheated and protest.

I would like for things to be that simple but that is not the case, to me this is a concerted effort to try to cut down the freedoms of the people, now more than ever exist all kind of restrictions to our behavior that did not existed before and that quite honestly are ridiculous, governments are trying to put their hands in everything and we know that they are incredibly inefficient at everything that they do so they are only complicating everything by doing so, and this is one more case of this trend, fortunately bitcoin exists so those protesters can begin to use it to avoid having all their wealth stolen by a government that does not value freedom.