bitcoin illegal some asia country bt why?can you give me some reason about this?? thanks
Legality by Asian countries: +China: Restricted - Exchanging bitcoins by people is lawful in China. +Hong Kong: Yes - In any case, the power will be firmly viewing the utilisation of bitcoins mainly and its improvement abroad. +Indonesia: Restricted - All risks regarding ownership or use of Bitcoin are borne by the owner or user of Bitcoin and other virtual currencies. +India: Restricted - India presumes that Bitcoins can be utilised for hawala exchanges and subsidising terror operations. +Israel: Yes - The Israel Bar Association considers the virtual money a fitting type of installment for lawyers. +Japan: Yes - You know! sure  +Kyrgyzstan: No - According to national law, the use of bitcoin and similar currencies is illegal. +Malaysia: Unrecognised - The national bank won’t direct Bitcoin operations right now, and clients ought to mindful of the dangers connected with bitcoin use. +Philippines: Yes - Bangko Sentral ng Pilipinas (BSP) will be monitoring the possibility of Bitcoin usage in money laundering and other illegal purposes. +Russia: No - In February 2014, Russia’s Prosecutor General’s Office guaranteed that bitcoin is a cash substitute and “can’t be utilised by people or lawful elements.” In September 2014, Deputy Finance Minister Aleksey Moiseev reported that a law will be gone by Spring 2015. +Singapore: Yes - Organisations that have an arrangement with bitcoin money trades will be saddled in light of their offers of bitcoins. +South Korea: Yes - There are no regulations in South Korea regulating the utilisation of bitcoin at the moment. On December 12, 2013, the president of the Bank of Korea recommended at a press conference that bitcoin be regulated in the future. +Taiwan: No - Alongside China, they have discharged a joint articulation against the utilisation of bitcoin. Truth be told, controllers have even went as far as to piece endeavors of establishment of Robocoin ATM. While bitcoin itself is not illicit, endorsements for bitcoin ATMs have been disallowed. +Thailand: No - A Bitcoin startup denied a business permit which was supposedly informed that purchasing and offering bitcoins, utilising bitcoins to purchase or offer merchandise and administrations, and moving bitcoins all through Thailand were all presently unlawful. +Vietnam: Restricted - Being one of the rare countries to ban bitcoin outright, the use of bitcoin in Vietnam is restricted. Despite this, there are still some small businesses that accept bitcoin. +Turkey: Yes - Bitcoin is not regulated as it is not considered to be electronic money according to the law. This is very interesting. It's good to see the number of countries in Asia which accepts and recognizes Bitcoin. I'm a bit surprised about China because I thought that they would outrightly ban Bitcoin, basically they want control for themselves. They even have their own Google, and their internet is basically regulated. To answer your question OP, I think the reason why some countries in Asia chose to ban Bitcoin or recognize it as illegal because they are mostly traditional and conservative. Some countries are very firm with their religion, customs and traditions and maybe there's something about Bitcoin that they don't like. Most traditional entities reject new concepts and change, because they'd rather stick to the old ways. Another reason may be for security, perhaps they just wanted to avoid some illegal activities done with the use of Bitcoin. |
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in my country, too, the situation is very difficult. High unemployment, wages too small - not enough money on that enough. Defer portion of income becomes heavier
We are similar. Here in the Phillipines have low employment rate . Many college grads but the government got no work to offer. There's a lot of bpo company thats offering job but not all pilipino's are capable of that job. Low wages , high bills . Thats why many Pilipino's going abroad to look for a better opportunity. Plus almost every pilipino is dependent on loans . And worst of all many Mayors and Congress people are involved in corruption and drug cartels. What a sad country. T_T Are there many Filipinos who rely on loans? I didn't know nor notice that. But I have to agree that the economy in the Philippines is very poor, and I think it's because it doesn't maximize its resources. There's a lot of room for improvement in the agricultural sector, and there should be more developments with education and infrastructure. The poverty situation is also very bad, especially amongst the rural areas. Most of the country's GDP is reliant on the filipino workers who work abroad. |
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Can't you work with a different device or internet network? I'm not sure what's the rule with IP addresses and signature campaigns. I recommend that the both of you don't join the signature campaign just in case, or if you do, ask permission from the manager but I think it would bring about some fishyness and worse they may choose to blacklist or ban you. Just don't violate any of the campaign rules and I think you guys are good to go.
It's good that you're teaching your family members and relatives, and that they chose to also engage in Bitcoin.
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There has been a lot of speculations regarding Bitcoin as a bubble which discourages some users and brings about fear, but generally I think that speculating is not a bad thing. It helps people make decisions and brings confidence for us bitcoin users. With the nature of bitcoin, it is but normal to speculate due to its volatility and constant price change. Also, if speculation is what attracts and encourages people to buy bitcoin then I think that it is then a good thing.
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I think there are different kinds of smarts, and ultimately it comes down to your goals. Someone who is a mathematical genius may not be 'smart' with their money, and could end up broke.
I think so to, because there are some people who are 'smart' in class, have high grades and are in the honors but when it comes to practical application to life and strategies, they suck at it. I somewhat admire those who are 'street smart' because they are very efficient, and I think its important for you to be like that for you to survive in this world and with this kind of society. I agree with OP because being simply smart is not enough and it won't get you to places. It would serve as a key, but like OP said there need's to be a balance. Having a college degree and latin honors is just a foot on the door, but it is up to you as a person as to where you'll get to in life. |
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And by educated and knowledgeable people, does it pertain to those who have attained a certain educational level? Like higher education or the college level? Because if it does then I would have to agree with you OP that Bitcoin is not limited to those type of people. I know of a lot of students who use Bitcoin, and they can use it even if they haven't attained their degree.
I, however, think that for people to use Bitcoin, you would have to be knowledgeable about the concept and you would have to educate herself on it. You won't be able to use it properly and make the correct investment decisions if you lack knowledge.
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It would seem that Bitcoin is a volatile object of mystery, but the reality is that it (blockchain) is brand new technology that is already disrupting how we give and receive money across the globe. I can see the potential, yet also understand the risks.
Why do you think now a good time to invest in Bitcoin?
So far, with all the risks being discussed, Bitcoin is still very much alive and kicking hard for almost a decade already. It has gone down but then it has risen and recovered its place. It used to be a brand new technology, a breakthrough of some sort, but it went off fast. The risk then was greater than the risk today because the reputation is already established unlike before. It is safer now to invest. I think now is the best time better than later. Despite its volatility the risks present, Bitcoin continues to be strong. Blockchain may be a brand new technology for some, and it has definitely revolutionized the money methods but it this new technology remains to provide service for its users and Bitcoin is still very profitable and is still the leading crypto. Every investment has its risks, and its up to you whether to take that risk. The bitcoin users are still very confident of Bitcoin for the years to come. |
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Do you believe in luck? Sometimes I believe that some people are luckier than others when it comes to gambling. I've seen someone win consecutively and every draw he made was a win, also he sometimes win in lotteries and raffles. In my country, we call these kind of people as "mainit ang kamay" which means "hot hands" in english. When it comes with mystics, I don't have the same beliefs. Some people use talismans or lucky charms while they play gambling games, but really I think it all boils down to your luck and chances.
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You are right with your precautionary concern...this is the reason why it is not good to promote Bitcoin only to a specific location or people because there would always be danger inherent when people would be part of a mania without first looking at that thing they are getting into. People should be educated first before they ride the Bitcoin bandwagon otherwise there can be some shocks later.
However, I still have to hear any news that Bitcoin became an agent for destruction as the scenario you are painting. When people do not have that much financially I don't think they would be thinking first of Bitcoin. When people are not wired to the internet there is a strong possibility they will not hearing that much with Bitcoin.
I still have to see a community mired in poverty that goes gaga over Bitcoin. What I am seeing right now is the opposite...most of those in Bitcoin really have the money to do so. So maybe we should just relax and not get concerned so much in so many theoretical imaginings of what Bitcoin can do and can not do but I do appreciate your concern.
I've never thought of it that way. Given a certain situation like and looking at it from that angle, Bitcoin could actually badly affect an economy and bring about chaos. I agree that the a poor community won't go heavily reliant on Bitcoin. First of all, I think you'd need to have a device (laptop or mobile) and internet for you to have access to Bitcoin. Also, I don't think they'll invest in Bitcoin given their financial situation. For the scenario you've come up with to actually happen, I think the community would have to be very isolated. It's possible for that to happen but I agree that the best way to go about it is to spread knowledge about Bitcoin and to provide better education for it. |
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I get the analogy you're getting at but to be honest: yes, when I sit on the old train of our city I've been thinking about why our government won't buy a new superconducting train instead. The old train works but it brings more discomfort than convenience to the public. The repairs made were of little help and I think that getting a new train is the only solution.
Anyway, I get were you're getting at despite having different thoughts about the analogy you've made. I have the same sentiments for those who make discouraging remarks and theorizing that Bitcoin is a bubble. A lot of people don't believe in it and have their doubts, but I don't regret the investments I've made on it. I guess some people just can't help but cling to security and assurance.
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Well, you're situation is definitely better than in my country. There's no Bitcoin debit cards, and just like you there are no actual stores which accept Bitcoin as a payment system. Not many people know about Bitcoin as well, and you'd have to exchange your BTC into fiat for you to be able to spend it. The bitcoin users in my country aren't given that much options either.
Anyway, I plan to hold my bitcoins rather than spend so I don't mind that much. Also, the local exchange wallet provides fast and easy service for those who want to exchange their BTC into local fiat currency.
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Wow, that sounds really cool because I'm a fan of John Cena. If its true that he invested on bitcoin or cryptocurrency, then I would idolize him even more. It's good to see that celebrities are now taking interest and making some investments on Bitcoin, I've heard about mayweather and STOX. I'm just wondering how come its a bunch of professional athletes (boxer/wrestler)? Whether its a paid advertisement or not, I still think that it brings good publicity for bitcoin. I'm sure that a lot of there fans and instagram users will get curious of what it is. Surely, it'll bring more users and people to invest.
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1. Do not remember electronic wallet password
2. Do not back up your wallet
3. Do not research new services
4. Buy and sell based on feelings
5. Leave your money in the electronic money floor
6. Waste time on faucets (we all did) 7. Collect dust and pay high fees on it 8. Leave coins in an exchange 9. Trust the wrong people and get scammed 10. Panic at a price correction Well, we all make mistakes especially as newbies. I wouldn't be where I am today if I hadn't make some of those mistakes. The best part about is learning from it. This is a good way of educating the bitcoin users, and I think this applies to all not only the newbies - experience is the best teacher. This should be a reminder for everyone as well, and no matter how long you've been using bitcoin, its always to good to keep learning. I'm definitely guilty of number 6 and I regret wasting so much time on it. It's one of the reasons why I got discouraged and lost interest on Bitcoin some years back. |
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it is good to be cautious when it comes to your investment and be aware of the bubbles and their deffinition. you should always have it somewhere back in your mind.
BUT you should also not forget the fact that people have been calling bitcoin a bubble and the comparison with Tulip bubble is nearly as old as bitcoin and each time someone compares these two, bitcoin price continues rising and they go silent until some other time to repeat the same thing again.
I agree with that, because its better to become cautious. Sometimes when fear creeps up, at the back of my head, a thought pops up like "What if Bitcoin suddenly crashes?" because I can't help but wonder how amazing Bitcoin is for its price to continue to increase over the years, and how fast and high its been increasing over a short period of time. Tulips are definitely different from Bitcoin. There are a lot of factors that are different from the current situation of Bitcoin and the tulip bubble, from its tangibility to its use. But really, the similarities between bubbles and crashes were how it crashed. Most economists still ponder on how a crash happens, and continuously research on how is it that one day a market suddenly crashes and the price drastically goes down in the blink of an eye. This happens when people lose confidence. They suddenly think for themselves "Oh this isn't worth buying" and at that moment when they choose to stop buying it, the price goes down and a crash happens. The fate of Bitcoin lies on the hands of its users. Its up to us, and our trust on it. As some people have suggested, the price of bitcoin relies on the "trust" of people since no one actually dictates its price. If people choose to believe that its in a bubble, it may breed fear and this could cause a possible crash. We should continue to become confident. |
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Well nothing special here. On the side note and a little bit of OT, they must learn how to follow rules and regulations. Uber just fined 190M here in my country because of lack of regulations and didn't able to follow some of the rules. They enjoy their freedom because of poor governance prior to the new administration but now everything was changed because of new government. Look at their counterpart Grab operating without a problem because they follow protocol. #ifonlyuberfollowsrulesthenwedonthavetotaketaxisanymore I bet you're talking about the Philippines. I beg to disagree with you because I don't see how uber had a "lack of regulations" and didn't follow some rules. What rules exactly didn't they follow? They actually complied to the required licensure as prescribed by the regulatory board, and I don't see how the offenses as pointed out by the agency only applied to Uber. The only difference was, Grab obeyed LTFRB's orders to stop hiring and accrediting new drivers but both Uber and Grab had regulation issues. Politics aside, its good to hear that the Uber CEO is also a fan of Bitcoin. More power to Uber because of their excellent service. |
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As long as it is functional and it can handle your work load then it can satisfy your requirements, it does not matter what gadget you have even if you are on your mobile phone connected in a wifi as long as it gets the job done you are good to go. I myself use my 10 years old desktop pc to earn Bitcoin from trading and signature campaigns, it is not a game with a need of a good gpu and processing power to finish the job.
I agree, it would suffice for you to have a working and functional device along with reliable internet. May it be a mobile phone, tablet or laptop also the internet doesn't have to be that fast. These simple and basic requirements allows us to earn Bitcoin through signature campaigns and other ways, and this is why it provides opporunity for a lot even for those who are unemployed and are still studying. |
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Rather, I think it would increase the demand for Bitcoin. If it were to be introduced and accepted by the market worldwide, it would attract more users for bitcoin and it will increase its popularity. More and more people will start using bitcoin and there will be an increased demand for it because more would want to buy it. Having Bitcoins will increase the options of payment system for the consumers. I think it would be a win-win situation for both the seller and the buyers.
On the other hand, I think that we are still far from introducing Bitcoin to the market. As of now, only very few merchants accept it.
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Im sorry about that mate. You country just banned Bitcoin recently (January 2017). I don't know why. Maybe just they see Bitcoin is a threat to your country's banking system. But there's still hope mate. I heard that government is working on possibility of adopting the technology. They already submitted the report and it's still on going. https://en.m.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory. So cheer up. Perhaps they chose to ban it because they saw bitcoin or cryptocurrency more of as threat than an opportunity. This could be a security measure, or way for them to keep control. Maybe its problematic because they could not regulate it and trace it, they must be scared that it could be used for illegal purposes. Some authorities choose to just dismiss these kinds of things insteading of addressing it. Hope this changes in the future and that your government would one day choose to be open for bitcoin and crypto. |
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Btctalk name: orions.belt19
Rank: member
Current post count: 186
BTC address: 3Bf62ofFiXGh5Z1BkPiEzFcZ8D7XELNU6L
Wear appropriate signature: yes
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There's an exchange wallet that allows you to buy steam credits directly with your bitcoin, so I think its convenient for some of those gamers out there who use steam. There are also some games that allow you to earn bitcoin I think, one which is similar to minecraft. It has an online platform and I think you're allowed to buy items using bitcoin there, I'm not quite sure how it works though since I don't use it.
Yes, I think it would be awesome for gamers if they were given the option to use bitcoin to buy credits or to directly purchase with the use of bitcoin, also it would attract other gamers to use bitcoin if it is introduced in the gaming world.
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