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BitcoinMarshal
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May 25, 2017, 02:47:30 PM |
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Dear Brothers its just announcement and there is no time frame for this mean this can take very long time because currently they are discussing with State Bank of Pakistan then they have to do some very long work then its possible to take it easy |
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Rahman11
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May 26, 2017, 01:37:16 AM |
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Yes, I m here from bd. how are you all?
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dmz241
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May 28, 2017, 05:41:50 AM |
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Testing times. There is alot of FUD going around. The biggest culprit here is Meezan banking closing accounts of btc users. At this time I would like to clear a few things:
1. SBP is actively looking into bitcoin, the PSD department is of the view that btc is gambling and at the same time talks about xrp and ripple being the company they should allow. We need to keep ourselves updated and do our bit in educating people as much as possible. If we have connections in places now is the time to start teaching them how this is the new revolution and it is better to allow this then to out right ban it.
2. FIA has been active also as there are known cases with meezan bank losing customers funds through online banking.
3. FBR recently started sending out letters to btc traders.
Now things to note here. bitcoin is not illegal. Its not a legal tender as per SBP and SECP what that means is that it is not considered a payment method. To dive deeper into this bitcoin is not a legal tender in any country right now other the Japan. SBP/SECP on that same note also advises to invest with extreme caution, if it was illegal they would have not advised investment. Now as per FBR concern, they dont have a problem with investments into bitcoin they have a problem with black money being invested into it. I dont believe that Pakistan has more then 2000 btc at a given time, so money laundering (again a term that we must understand) will not be possible or even hiding black money in this is stupid as 1 day your value might be $2700 next day it will be $2200 who would want to do that is beyond my understanding?
I would like to touch a bit on money laundering also, it is when you move abroad or transfer your money over seas. In case of btc the money is never moving hence the fact that money was laundered is just absurd it was btc, whose ownership changed as by definition btc can never be sent or received. Only ownership changes. Lastly if you are paying someone in btc internationally like steam, dell microsoft etc etc its a Payment and there is nothing wrong with payments. I hope this clears up alot of things. Its time for us to take a stand and do what we can in our own way to help this ecosystem work in Pakistan. Pakistan is not producing any jobs and lots of freelancers depend on btc for their income and lively hoods.
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Abdussamad (OP)
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Activity: 3682
Merit: 1580
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May 29, 2017, 03:07:01 PM |
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Pakistan has a history of banning new technologies as soon as they start becoming popular. It is not surprising that the authorities would take offense at bitcoin's growing popularity. It was to be expected.
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Abdussamad (OP)
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May 29, 2017, 03:26:52 PM |
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I dont believe that Pakistan has more then 2000 btc at a given time, so money laundering (again a term that we must understand) will not be possible or even hiding black money in this is stupid as 1 day your value might be $2700 next day it will be $2200 who would want to do that is beyond my understanding?
This is not the argument you should be making as money launderers don't mind taking a haircut. The argument you should be making is that all bitcoin transactions are publicly viewable on blockchain explorers so there is no way you can hide anything. Despite what the media might say bitcoin is not an anonymous currency. There is total transparency of funds transfers in bitcoin.This is the argument the Indians made when their central bank started causing them problems and it worked because they were allowed to carry on trading bitcoin. |
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Rapidgator
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May 29, 2017, 04:20:12 PM |
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FBR goes after bitcoin traders - Updated May 25, 2017 10:37am - 5 days agohttps://www.dawn.com/news/1335184The top intelligence department of the Federal Board of Revenue (FBR) is investigating cases where investors trade digital currencies probably to evade taxes or launder money.
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dmz241
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June 03, 2017, 05:06:46 AM |
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I dont believe that Pakistan has more then 2000 btc at a given time, so money laundering (again a term that we must understand) will not be possible or even hiding black money in this is stupid as 1 day your value might be $2700 next day it will be $2200 who would want to do that is beyond my understanding?
This is not the argument you should be making as money launderers don't mind taking a haircut. The argument you should be making is that all bitcoin transactions are publicly viewable on blockchain explorers so there is no way you can hide anything. Despite what the media might say bitcoin is not an anonymous currency. There is total transparency of funds transfers in bitcoin.This is the argument the Indians made when their central bank started causing them problems and it worked because they were allowed to carry on trading bitcoin. Its not an argument its just information. Secondly having a hair cut of having your funds fall in value or paying double the price of the bitcoin is stupid even by launderers standards, I think the current hundi hawala system is much much cheaper then this. Secondly yes you can see on a public chain which address has what but you cant tie an address to its owners which makes tracking very difficult unless cashed out from known or registered places (Services that follow AML/KYC) But yes its a valid point never the less. |
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dmz241
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June 03, 2017, 05:08:47 AM |
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FBR goes after bitcoin traders - Updated May 25, 2017 10:37am - 5 days agohttps://www.dawn.com/news/1335184The top intelligence department of the Federal Board of Revenue (FBR) is investigating cases where investors trade digital currencies probably to evade taxes or launder money. BTW I just learned the IRS is very active on this also. The good point is that if they tax income from it, it will automatically become legal in Pakistan and defend-able in court. |
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Superzpay
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June 04, 2017, 07:43:21 PM |
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FBR goes after bitcoin traders - Updated May 25, 2017 10:37am - 5 days agohttps://www.dawn.com/news/1335184The top intelligence department of the Federal Board of Revenue (FBR) is investigating cases where investors trade digital currencies probably to evade taxes or launder money. BTW I just learned the IRS is very active on this also. The good point is that if they tax income from it, it will automatically become legal in Pakistan and defend-able in court. I was thinking of that same point that if Pakistan has not recognized that currency yet then they are not eligible to ask for the tax on it and it is our money and we have the right that we can spend it on any thing which we like. Governments cannot stop us for using our money on any thing which is not harmful for any person. If they want the tax on Bitcoin then they have to adopt bitcoin for the state. |
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ibrahim267
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June 06, 2017, 10:12:47 AM |
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i am from bangladesh but i love pakitani people and cricket
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dmz241
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June 11, 2017, 04:55:48 AM |
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i am from bangladesh but i love pakitani people and cricket
Hey brother welcome on board. |
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dmz241
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June 11, 2017, 04:58:17 AM |
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FBR goes after bitcoin traders - Updated May 25, 2017 10:37am - 5 days agohttps://www.dawn.com/news/1335184The top intelligence department of the Federal Board of Revenue (FBR) is investigating cases where investors trade digital currencies probably to evade taxes or launder money. BTW I just learned the IRS is very active on this also. The good point is that if they tax income from it, it will automatically become legal in Pakistan and defend-able in court. I was thinking of that same point that if Pakistan has not recognized that currency yet then they are not eligible to ask for the tax on it and it is our money and we have the right that we can spend it on any thing which we like. Governments cannot stop us for using our money on any thing which is not harmful for any person. If they want the tax on Bitcoin then they have to adopt bitcoin for the state. I dont believe its a tax on bitcoin. Currently they are only collecting data on who is buying and selling bitcoins. They want to see if Anti-Money Laundering or black money has been used to purchase btc. So hence they want to tax money that is being hidden in bitcoin. Again I dont see this possible however thats how they are thinking. |
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KingScorpio
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June 19, 2017, 05:03:53 PM |
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are there some folks interested joining and developing a cryptocurrency enterprise? creating a cryptocurrency brand and an exchange
regards
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jamalaezaz
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June 19, 2017, 06:59:48 PM |
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are there some folks interested joining and developing a cryptocurrency enterprise? creating a cryptocurrency brand and an exchange
regards
yes, I am interested.. |
Available For CM/SMM, Content Writing and Digital Marketing
TG: @jamalaezaz
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aakashsangwan
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June 19, 2017, 07:40:07 PM |
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are there some folks interested joining and developing a cryptocurrency enterprise? creating a cryptocurrency brand and an exchange
regards
I am also interested, please pm me about it |
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irfan_pak10
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👉 Pixelswap - DEX on TON
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June 20, 2017, 03:24:22 AM |
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Good to see that people in Pakistan adopting Bitcoin very rapidly now.
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ToniCrocano
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June 21, 2017, 12:13:16 PM |
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خوش سب، میں سیکشن altcoin میں اپنے اشتھار کیلئے مترجمین کے لئے تلاش کر، سادہ اور جامع ہونا چاہتے ہیں، آپ دلچسپی رکھتے ہیں تو، مجھے ایک ذاتی پیغام ارسال کریں شکریہ
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lolxxxx
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June 21, 2017, 02:56:36 PM |
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خوش سب، میں سیکشن altcoin میں اپنے اشتھار کیلئے مترجمین کے لئے تلاش کر، سادہ اور جامع ہونا چاہتے ہیں، آپ دلچسپی رکھتے ہیں تو، مجھے ایک ذاتی پیغام ارسال کریں شکریہ
Too hard to read that, Better to type in English next time. |
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linkybit
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Merit: 107
Keep Working
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June 22, 2017, 02:19:19 AM |
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Is anyone using PayPal here? I see that they have started to allow Pakistanis for business accounts... Did anybody use it?
Really ? can you please tell us where you read that info ? It'll be interesting. I think mein ne Propakistani website mein parha tha. but not sure. I see, IMO currently there is no legal way to get pp for Pakistani address. |
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Superzpay
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June 28, 2017, 07:32:18 PM |
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خوش سب، میں سیکشن altcoin میں اپنے اشتھار کیلئے مترجمین کے لئے تلاش کر، سادہ اور جامع ہونا چاہتے ہیں، آپ دلچسپی رکھتے ہیں تو، مجھے ایک ذاتی پیغام ارسال کریں شکریہ
Too hard to read that, Better to type in English next time. I think he used google translator for creating that post for Pakistani people. After checking on the google translator I found that he actually tried to post like that: خوش سب، میں سیکشن "الٹکوئین" میں اپنے اشتھار کیلئے مترجمین کے لئے تلاش کر، سادہ اور جامع ہونا چاہتے ہیں، آپ دلچسپی رکھتے ہیں تو، مجھے ایک ذاتی پیغام ارسال کریں شکریہ in the above actually he posted the word "altcoin" in English that is why the urdu words misplaced which after writing in Urdu alphabets made everything correct. The English translation of above words is below: "Hello everyone, I am looking for a simple and computable translators for my ad in the altcoin section, if you're interested, please send me a personal message. Thanks" |
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