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tegarp90
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June 10, 2018, 02:28:25 PM |
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Can someone be punished or sent to jail just by holding bitcoin in banned country?
What will happen in case of trading bitcoin in country where bitcoin is banned?
In my country Indonesia, bitcoin is banned from doing transaction with bitcoin. But owning bitcoin is legal, and also we have an official indonesian exchange called indodax. So, it's just banned to be using bitcoin as a payment. |
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"The nature of Bitcoin is such that once version 0.1 was released, the
core design was set in stone for the rest of its lifetime." -- Satoshi
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fishball
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June 10, 2018, 02:36:24 PM |
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Can someone be punished or sent to jail just by holding bitcoin in banned country?
What will happen in case of trading bitcoin in country where bitcoin is banned?
Of course that kind of matter should be handled by the law-enforcing people using their regulation about it. So the punishment depends on their regulations. |
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gelaskopi
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June 10, 2018, 02:43:39 PM |
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We need to specify what the ban is. Does the ban not allow citizens to have bitcoins? Because there are some countries that just forbid bitcoin to transact, but it allows us to have bitcoin as an asset. If the country forbids us even to ownership. Then the risk depends on the laws of the country. But I don't feel the punishment will be as bad as in jail.
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dsaijz03
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June 10, 2018, 02:45:18 PM |
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I think ban means you are not able to exchange or make transactions on your token/coins on that country so we can notice that those investors on crypto ban where not able to invest.
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walemil
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June 10, 2018, 05:22:38 PM |
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This question will have to be answered with reference to the legal specifications of the country in question as it may vary from country to country. Since the law can't tie any cryptocurrency wallet to you, the only thing the ban can achieve is to forbid cryptocurrency activities in the country. This means you can spend your cryptocurrency in any other country where there is no ban.
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Khector
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June 10, 2018, 05:34:50 PM |
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Can someone be punished or sent to jail just by holding bitcoin in banned country?
What will happen in case of trading bitcoin in country where bitcoin is banned?
If anyone asks you what kind of prison? Keep answer because gara using bitcoin, it's not sane that make the law The same payers who accept no objection, even a third person who objected, This is what is called madness |
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cryptolet
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June 10, 2018, 06:09:39 PM |
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I think ban means when the government or a particular country restrict the use, trading and exchanging of bitcoin maybe for some illegal purposes.
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BelieveInBTC
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June 10, 2018, 06:39:46 PM |
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Many people think that if a certain country bans Bitcoin, their citizens are selling it and not using cryptocurrencies anymore. The only problem is that it is impossible to prohibit using cryptocurrencies because they are decentralised. It would be wise to use a VPN while connecting to other nodes because the police might setup honeypot nodes which would find IP addresses of people who are using crypto.
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lakatina
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June 11, 2018, 04:02:02 AM |
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Should remove the scam, that is the meaning of the board. Should do so in the big money market in this world.
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PsylockReborn
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June 11, 2018, 04:09:06 AM |
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Can someone be punished or sent to jail just by holding bitcoin in banned country?
What will happen in case of trading bitcoin in country where bitcoin is banned?
To make it more simple and understandable. If your country bans bitcoin then you won't be able to exchange it into cash if you needed the money for something unless you'll do it in between your friends or someone you know but if you get caught doing this, I guess there would be sanctions since it is not legalized in your country. Anything that is not legalized in your country is punishable by law if you'll be caught doing transactions that your government doesn't approve of it so better just hold your coins until the time will come that it will be legalized by your country. |
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Wanpush
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June 11, 2018, 04:30:01 AM |
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Yes, if in the country there is an official law related to the ban of bitcoin, then he can be imprisoned. but if in the country there is no law, then the person holding the bitcoin can make an appeal.
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violet catona
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June 11, 2018, 05:33:35 AM |
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I think For now 90% of bitcoin must be exchanged to fiat currency in order to finally use it to pay for goods and services. The banning is very effective at the point of exchanging it to fiat currency.
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ngacengan
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June 11, 2018, 07:31:23 AM |
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banned country means I think the country is prohibiting the circulation and use of bitcoin for transactions in his country because I see some countries have different rules for the finances used.
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hardtargetbtc002018
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June 11, 2018, 07:56:36 AM |
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Can someone be punished or sent to jail just by holding bitcoin in banned country?
What will happen in case of trading bitcoin in country where bitcoin is banned?
[/quote
Ban is actually a direction of the government not allowing a certain things or investment to enter in the country for some reason that they think can harm their citizen. |
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anitaraymonds
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June 11, 2018, 08:05:24 AM |
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I am yet to be aware if there is any country that has banned bitcoin. What they all are doing is to regulate the use of bitcioin in their country. If eventually bitcoin is banned by any country it will amount to sabotage to trade , deal or hold bitcoin in that country.
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Hopeman1
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June 11, 2018, 08:06:38 AM |
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Most of the time you just store your bitcoin and crypto money markets in a hardware wallet and you don't have to worry about anything.
Because no one can find your assets, if you're offline all the time.
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boblets243
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June 11, 2018, 08:22:16 AM |
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Can someone be punished or sent to jail just by holding bitcoin in banned country?
What will happen in case of trading bitcoin in country where bitcoin is banned?
The scope of it depends on country to country. So you may refer to the legislative group of your country. Some countries may put into jail for using bitcoin. While for other countries you only need to pay fines for disobeying the law. So the coverage and the penalities are different per country. |
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Cutieh01
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June 11, 2018, 08:23:49 AM |
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I think For now 90% of bitcoin must be exchanged to fiat currency in order to finally use it to pay for goods and services. The banning is very effective at the point of exchanging it to fiat currency.
I think if your country banned bitcoin it means there is no way you can have an exchange or any transaction is prohibited like paying of goods and services. In depends on a certain countries that banned bitcoin if the caught you using or trading bitcoin you will be sent in jail. So in my opinion better hold your bitcoin or store it in a hardware wallet then trade it if your country legalize bitcoin. |
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Xxmodded
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June 11, 2018, 08:32:35 AM |
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Can someone be punished or sent to jail just by holding bitcoin in banned country?
What will happen in case of trading bitcoin in country where bitcoin is banned?
I do not think that as you say, every country has different jurisdictions about the prohibition and the type of law. especially on crypto and bitcoin. not true if someone has bitcoin will be in jail if not criminal act. |
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EdenHazard
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June 11, 2018, 08:42:17 AM |
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Can someone be punished or sent to jail just by holding bitcoin in banned country?
This case depends on the decision of a country, if they (government) consider everything about bitcoin is something that is illegal then inevitably bitcoin users in the country must accept the consequences. Bitcoin is indeed freely owned by everyone, but users should be aware of where they live, there is a government that will manage all the life of a person. What will happen in case of trading bitcoin in country where bitcoin is banned?
In fact, there are some countries that prohibit the use of bitcoin only as a payment system. Some countries allow bitcoin users to trade with their records (the government) does not have the authority to manage and be responsible for any risks to be faced. |
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