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Author Topic: Bitcoin banned in Ecuador  (Read 5878 times)
Chin Cheng
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June 08, 2017, 11:44:43 PM
 #121

Do you think that the Ecuador government will freely allow the use of Bitcoin as its popularity increases?
The government banned bitcoin and introduced their version of digital currency and i am not sure how that progresses ,but i assume that they cannot force anyone to use their currency but another thing i need to know is that ,what happens when you use a banned currency,do you get jail term and under what law you will be booked,if i can have a clarity regarding that ,then i will wage on what will happen.
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June 09, 2017, 02:29:44 AM
 #122


In 2014, all the cryptocurrencies including Bitcoin was banned by the government in Ecuador. This was followed by the introduction of the country’s own digital currency, the Dinero Electrónico.

However, defiant Bitcoin users still continued using Bitcoin and other cryptocurrencies. In fact, Bitcoin use in Ecuador has spiked due to the recent price rise.

Do you think that the Ecuador government will freely allow the use of Bitcoin as its popularity increases?

I’m sorry for the people in Ecuador and having that dumb government but I like the fact they are resisting the efforts of that authoritarian government and continuing business as usual, I hope they elect a new government with a tolerant attitude towards bitcoin, not lie the one they have right now.


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June 09, 2017, 02:34:43 AM
 #123


In 2014, all the cryptocurrencies including Bitcoin was banned by the government in Ecuador. This was followed by the introduction of the country’s own digital currency, the Dinero Electrónico.

However, defiant Bitcoin users still continued using Bitcoin and other cryptocurrencies. In fact, Bitcoin use in Ecuador has spiked due to the recent price rise.

Do you think that the Ecuador government will freely allow the use of Bitcoin as its popularity increases?


Banning bitcoin will only drive demand up. I hope all countries ban BTC and every private currency, would be hilarious.

( ͡° ͜ʖ ͡°)
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June 09, 2017, 03:13:48 AM
 #124

i dont think the government needs to be forced to accept what they don't want, i believe they have a reason for rejecting it. e'en though it should do them no harm, if not for those who may misuse the opportunity for crime.but they could be convinced overtime to understand the confusing part of it. and as for those who are really interested has found their way into it as you have rightly said.


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June 09, 2017, 03:24:28 AM
 #125

Government is the tyrany of people, it use to be King, Dictator etc now ti's government ("democracy"). So I predict more and more bad things from tyrants in the future when it comes to bitcoin i predict no (or very little) good just more and more bad from them!

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>>WE MANAGE SOCIAL MEDIA FOR CRYPTO. IF YOU DON'T HAVE TIME AND HAVE CRYPTO, PM US!<<
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June 09, 2017, 09:01:54 AM
 #126

Do you think that the Ecuador government will freely allow the use of Bitcoin as its popularity increases?
The government banned bitcoin and introduced their version of digital currency and i am not sure how that progresses ,but i assume that they cannot force anyone to use their currency but another thing i need to know is that ,what happens when you use a banned currency,do you get jail term and under what law you will be booked,if i can have a clarity regarding that ,then i will wage on what will happen.

That would obviously depend on the specific law

If you get caught using (or consuming) prohibited substances like, say, drugs, you may get off cheap if you keep them for your personal use. If you are selling them (and Bitcoin would fit here perfectly), your mileage may vary depending on jurisdiction. In some countries you may go to jail for a few (dozen) years, in some other countries you may receive a capital punishment and go straight to the gallows instead like, say, in Iran. If we talk about banned currencies, more specifically, in the former USSR, for example, you could go on a date with a firing squad for illegally keeping as much as 100 dollars (a few dudes had actually been executed for currency speculation back then)

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June 09, 2017, 09:13:38 AM
 #127

Do you think that the Ecuador government will freely allow the use of Bitcoin as its popularity increases?
The government banned bitcoin and introduced their version of digital currency and i am not sure how that progresses ,but i assume that they cannot force anyone to use their currency but another thing i need to know is that ,what happens when you use a banned currency,do you get jail term and under what law you will be booked,if i can have a clarity regarding that ,then i will wage on what will happen.

That would obviously depend on the specific law

If you get caught using (or consuming) prohibited substances like, say, drugs, you may get off cheap if you keep them for your personal use. If you are selling them (and Bitcoin would fit here perfectly), your mileage may vary depending on jurisdiction. In some countries you may go to jail for a few (dozen) years, in some other countries you may receive a capital punishment and go to the gallows like, say, in Iran. If we talk about banned currencies, more specifically, in the former USSR, for example, you could go on a date with a firing squad for illegally keeping as much as 100 dollars (a few dudes had actually been executed back then)

USSR = Tyranny at it's finest! At least they where not deceptive tyrants, my country they pretend it's freedom but they try to be as close as USSR as they can hide it. My government is a stupid corrupt government they are to stupid to even know what Bitcoin is. But one day when they discover it's a threat to the their fake printed "money" they will ban it. I'm sure of it!

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>>WE MANAGE SOCIAL MEDIA FOR CRYPTO. IF YOU DON'T HAVE TIME AND HAVE CRYPTO, PM US!<<
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June 09, 2017, 02:04:29 PM
 #128


In 2014, all the cryptocurrencies including Bitcoin was banned by the government in Ecuador. This was followed by the introduction of the country’s own digital currency, the Dinero Electrónico.

However, defiant Bitcoin users still continued using Bitcoin and other cryptocurrencies. In fact, Bitcoin use in Ecuador has spiked due to the recent price rise.

Do you think that the Ecuador government will freely allow the use of Bitcoin as its popularity increases?

I’m sorry for the people in Ecuador and having that dumb government but I like the fact they are resisting the efforts of that authoritarian government and continuing business as usual, I hope they elect a new government with a tolerant attitude towards bitcoin, not lie the one they have right now.

They are authoritarian indeed. They treated bitcoin enthusiast like they are a terrorist or doing crimes. Which is sad to say the least. They don't truly understand what bitcoin means to their society. Its like really controlling what the citizens can and can't do. And it doesn't really sound good and its depressing to the citizen. I hope they elect a liberal government which somewhat really relax on bitcoin and other crypto's. We are really lucky that our government is open and freely support bitcoin.

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June 09, 2017, 02:08:12 PM
 #129


In 2014, all the cryptocurrencies including Bitcoin was banned by the government in Ecuador. This was followed by the introduction of the country’s own digital currency, the Dinero Electrónico.

However, defiant Bitcoin users still continued using Bitcoin and other cryptocurrencies. In fact, Bitcoin use in Ecuador has spiked due to the recent price rise.

Do you think that the Ecuador government will freely allow the use of Bitcoin as its popularity increases?

I’m sorry for the people in Ecuador and having that dumb government but I like the fact they are resisting the efforts of that authoritarian government and continuing business as usual, I hope they elect a new government with a tolerant attitude towards bitcoin, not lie the one they have right now.

They are authoritarian indeed. They treated bitcoin enthusiast like they are a terrorist or doing crimes. Which is sad to say the least. They don't truly understand what bitcoin means to their society. Its like really controlling what the citizens can and can't do. And it doesn't really sound good and its depressing to the citizen. I hope they elect a liberal government which somewhat really relax on bitcoin and other crypto's. We are really lucky that our government is open and freely support bitcoin.

What planet do you live on?

"Its like really controlling what the citizens can and can't do"

That what my government and most on this planet do including the so called "land of the free" America they " controlling what the American citizens can and can't do" look at Poker for example Americans don't have the freedom to play on-line just one example. So this is nothing new, I predict in less then 10 years more of these tyrants will ban bitcoin just like Equator and I hope I'm wrong.

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>>WE MANAGE SOCIAL MEDIA FOR CRYPTO. IF YOU DON'T HAVE TIME AND HAVE CRYPTO, PM US!<<
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June 09, 2017, 02:35:32 PM
 #130


In 2014, all the cryptocurrencies including Bitcoin was banned by the government in Ecuador. This was followed by the introduction of the country’s own digital currency, the Dinero Electrónico.

However, defiant Bitcoin users still continued using Bitcoin and other cryptocurrencies. In fact, Bitcoin use in Ecuador has spiked due to the recent price rise.

Do you think that the Ecuador government will freely allow the use of Bitcoin as its popularity increases?


The Ecuadorian government's policy to ban bitcoin and establish dollarization by rolling out their own digital currency has two flaws, Dinero Electrónico is backed by the Central Bank of Ecudaor, but the private banks do not have much faith in this own digital currency system plus bitcoin is banned, but Ecuadorian government has not specified any law against people using it. For example, in Bangladesh bitcoin is banned and people caught using it would be booked under anti-money laundering laws and imprisoned.

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June 09, 2017, 02:41:54 PM
 #131

in the USA they don't ban it outright but use Stalinist FUD tactics by randomly destroying people's lives

http://www.coindesk.com/libertarian-party-blasts-government-case-bitcoin-trader/

Time to clean the Stalinist & Fascist filth out of governments worldwide  Angry

Dinero Electronico is just an electronic fiat currency, precisely the same as XRP btw.  Grin

Truth is the new hatespeech.
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June 09, 2017, 03:07:34 PM
 #132

Depenflds, but more likely no. Seeing interest from the public doesn't change any decisions made by the government, especially if it's something opposing their ideology and their ally (the banks). Also, they have their own cryptocurrency so they will just shove that to the public's asses rather than lift the ban that is already on for bitcoin.

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June 09, 2017, 03:55:54 PM
 #133

Ecuador band bitcoin. Other hand Japan and suzarland adopted bitcoin. They made business industry and use bitcoin. They increase their business and ahead. Other hand Ecuador band bitcoin they stay behind.


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June 09, 2017, 05:02:32 PM
 #134


In 2014, all the cryptocurrencies including Bitcoin was banned by the government in Ecuador. This was followed by the introduction of the country’s own digital currency, the Dinero Electrónico.

However, defiant Bitcoin users still continued using Bitcoin and other cryptocurrencies. In fact, Bitcoin use in Ecuador has spiked due to the recent price rise.

Do you think that the Ecuador government will freely allow the use of Bitcoin as its popularity increases?

I’m sorry for the people in Ecuador and having that dumb government but I like the fact they are resisting the efforts of that authoritarian government and continuing business as usual, I hope they elect a new government with a tolerant attitude towards bitcoin, not lie the one they have right now.

They are authoritarian indeed. They treated bitcoin enthusiast like they are a terrorist or doing crimes. Which is sad to say the least. They don't truly understand what bitcoin means to their society. Its like really controlling what the citizens can and can't do. And it doesn't really sound good and its depressing to the citizen. I hope they elect a liberal government which somewhat really relax on bitcoin and other crypto's. We are really lucky that our government is open and freely support bitcoin.

What planet do you live on?

"Its like really controlling what the citizens can and can't do"

That what my government and most on this planet do including the so called "land of the free" America they " controlling what the American citizens can and can't do" look at Poker for example Americans don't have the freedom to play on-line just one example. So this is nothing new, I predict in less then 10 years more of these tyrants will ban bitcoin just like Equator and I hope I'm wrong.

This is Ecuador not Equator nor equator

While I certainly agree that governments want to control the lives of their citizens, we should still admit that we are nowhere near what happened in the Medieval times or just 100 years ago. Indeed, there are quite a few authoritarian regimes in the world nowadays (the North Korea seems to be the most extreme among these), but overall governments today care less what population does or thinks. In other words, they are trying to control the masses using indirect methods, for example, via mass media, and rarely resort to direct coercion and violence

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June 10, 2017, 09:16:30 AM
 #135

i dont think the government needs to be forced to accept what they don't want, i believe they have a reason for rejecting it. e'en though it should do them no harm, if not for those who may misuse the opportunity for crime.but they could be convinced overtime to understand the confusing part of it. and as for those who are really interested has found their way into it as you have rightly said.
Well I don’t think it is something about the government wants criminal activities to be reduced by it in the country but the truth is against this. The governments have some other intensions which could be clearly seen by the launching of their own currency.

If it was only about the anonymity issue then the government would only banned it but when it comes to the currency launching then it is competition.

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June 10, 2017, 10:43:15 AM
 #136

i dont think the government needs to be forced to accept what they don't want, i believe they have a reason for rejecting it. e'en though it should do them no harm, if not for those who may misuse the opportunity for crime.but they could be convinced overtime to understand the confusing part of it. and as for those who are really interested has found their way into it as you have rightly said.
Well I don’t think it is something about the government wants criminal activities to be reduced by it in the country but the truth is against this. The governments have some other intensions which could be clearly seen by the launching of their own currency.

If it was only about the anonymity issue then the government would only banned it but when it comes to the currency launching then it is competition.

It is not the anonymity that governments are afraid at all

After all, cash is by far more anonymous than Bitcoin while Bitcoin itself is only pseudo-anonymous. Besides, there are quite a few coins that provide true anonymity but no one is going to ban them. Thus this is not the real culprit behind banning Bitcoin. As to me, it is fear of competition exactly that is behind governments looking for banning Bitcoin. In fact, it is not just about Bitcoin, many countries banned the American dollar in the past on various pretexts (e.g. Russia) but the real cause was precisely that, the lack of competitiveness on the part of the local currency

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June 10, 2017, 07:09:48 PM
 #137

Do you think that the Ecuador government will freely allow the use of Bitcoin as its popularity increases?
The government banned bitcoin and introduced their version of digital currency and i am not sure how that progresses ,but i assume that they cannot force anyone to use their currency but another thing i need to know is that ,what happens when you use a banned currency,do you get jail term and under what law you will be booked,if i can have a clarity regarding that ,then i will wage on what will happen.
Well this can be better tell by a lawyer that what will happen exactly if you are guilty of using a banned currency.
Every country has its own laws and sentences for the crime. So when you are using a banned currency it means that you are committing a crime now what will be the sentence for it? It depends on where do you live and what the law says about you.

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June 10, 2017, 08:54:09 PM
 #138

Ecuador band bitcoin. Other hand Japan and suzarland adopted bitcoin. They made business industry and use bitcoin. They increase their business and ahead. Other hand Ecuador band bitcoin they stay behind.
I don't like what ecuador government do about bitcoin. It's too bad when a country are 'not allowed to use cryptocurrencies maybe it can affect bitcoin. in other hand like you said Japan start use bitcoin everywhere even in japanease airline.

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June 11, 2017, 08:56:36 AM
 #139

This is more of the conspiracists Bitcoin group believing that the world is after them because a handful of laws are thrown around, or in this case a simple declaration of intent.  The law is not a law in fact, simply a statement by the government that they were against the use of Bitcoin in the light that the central banking groups were attempting to work within the markets. 
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June 11, 2017, 09:04:44 AM
 #140

Another country that says they are banning bitcoins but I think it will not be long since they will change as many countries are considering to accept bitcoins.

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