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Well, to my knowledge, Bitcoin is declared illegal in some countries, but it is also legal in the country that has received it. Broadly speaking, I think the legality of bitcoin depends on the law that applies in one country, if in one country bitcoin is accepted and legal, but sometimes it is illegal in other countries.
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Comming from a 3rd world country, many opinions around but not certain. The country gov. doesn't have official statement about crypto. There is a law that you cannot own a bank account abroad and that you can't own stocks outside of the contry. But i think crypto doesn't fit into stocks sector. What are your oppinions?
Yes, in a third world country it's very confusing, where we don't know the legal status of crypto. I conclude that the status of crypto in third world countries is not recognized but not illegal, and I think, for now, let's just enjoy the status not admitted but not illegal. |
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I think it's safe as long as you know how to secure the money you save on cryptocurrency, therefore, it is mandatory for us to know the steps that must be taken so that our money remains safe.
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Yes, I agree with KYC Compliance for Bitcoin, besides it can help to gain legitimacy plus it will be available to people who are more general. This will also prove that Bitcoin can follow the rules like as other financial instruments.
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If you really care about your friend better to tell him everything, and teach them how to play in the market. I’m not saying that you idea is illegal, its legal as long as you are committed but again teaching him about cryptocurrency is the best thing that you can do, let him enjoy the cryptomarket.
I agree with this, I think this idea is the most appropriate and wise way for you and your friend. Give him an understanding of the cryptocurrency market, that way, there will be no problem later. |
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There are many businesses in the real world such as restaurants, apartments, and also online services that have received bitcoin. In fact, some time ago, I saw someone writing a thread that BMW would accept payment with bitcoin for their car.
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For now, it's not a concern. because bitcoin is now popular and all countries are connected to the internet. so I think you can show bitcoin and how it has been recognized by some countries. But it's different if in your country bitcoin is a prohibited currency.
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Simply put, HODL comes from the word "HOLD" with the wrong spelling but it's intentional.
which means not selling coins that we have or still holding coins that we have even when prices fall.
So far, that's my understanding of the term HODL.
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i was thinking about the Bitcoin and it's Future in Banking . can it remplace money in transactions ?
I think it's difficult, it's difficult for bitcoin to replace fiat money in transactions, even though I personally like bitcoin and all its advantages are compared to fiat money, but, somehow bitcoin will not replace fiat money for transactions. maybe I would say that bitcoin comes as an alternative money. |
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So many countries now were prohibiting the use of virtual cryptocurrencies. And to think that many unemployed individuals were beginning to uplift their way of living because of their dealings with cryptocurrencies. Banks doesn't expressly say why it is banning the use of Bitcoin.
What do you think is the reason behind this?
I think bitcoin offers an easier way to operate/transfer money from what has to offer by a bank. And the bank feels uncomfortable with the competition brought by bitcoin. |
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Trust yourself - 90% of what you read on the internet is bullshit, follow your instincts.
Yeah, Exactly! because often the news spread from people who do not understand about Bitcoin will certainly cause a misperception, or maybe that is another thing that is outside Bitcoin, but is associated with Bitcoin. |
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Interesting to wait, but, I think bitcoin has to face the many challenges of becoming the world's first currency to buy and sell, including the challenges of some countries that would rather ban it than make it legal.
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I will say, learn and understand everything about bitcoin before starting to invest or buy it, and most importantly you should know about risk management, then you will avoid unwanted risks.
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Yes, do not invest everything you have in Bitcoin and Cryptocurrency, but that statement does not only apply to bitcoin and crypto, it also applies to any form of investment.
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Wow, is there really Bitcoin Wallet without transaction fee !? Is not the fee a reward for the miners who verify a transaction. I think the fee is needed to build the network.
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I agree with what Draper says, blockchain has the potential to transform almost any industry, including government services. but I doubt it will happen in five years from now.
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