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Genosx
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June 20, 2018, 09:04:40 PM |
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Banning is the concept of giving restrictions in a curtained field. Once the bitcoin or any cryptos are banned by the government they will be no longer can operate on that country through the governance of law.
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"In a nutshell, the network works like a distributed
timestamp server, stamping the first transaction to spend a coin. It
takes advantage of the nature of information being easy to spread but
hard to stifle." -- Satoshi
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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Maame Esi Sergio
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Activity: 112
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June 20, 2018, 09:20:32 PM |
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Currently, countries that claim to ban the use of cryptocurrencies did so by verbal means. If there are laws backing the ban then the fate of such a culprit can only be decided by the laws and regulation. I my country bitcoin is not used as a means of exchange but its been stated that investing in bitcoin is very risky and anyone who ventures do so at his/her own risk.
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syarifudin
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June 20, 2018, 09:39:27 PM |
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it could happen if bitcoin is indeed really prohibited in that country, for example in Indonesia there is a law that prohibits bitcoin, of course that prohibits the law will be arrested
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SistaFista
Sr. Member
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Activity: 1638
Merit: 251
Hexhash.xyz
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June 21, 2018, 01:48:21 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 don't really know because my country is not banning bitcoin, but i think ban mean you cannot using it. i mean you cannot using or holding bitcoin with their knowledge, but you can still use it if they don't know you. |
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Keeping Up
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Activity: 230
Merit: 22
Staker.network - POS Smart Contract ETH Token
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June 21, 2018, 04:17:04 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?
there may be a different rules and regulations in each country pertaining to cryptocurrencies. and as a responsible citizen we must abide by it. if your country tells you to stop holding cryptocurrency then so be it. . luckily in our country there isn't a regulation yet that prevents us from accumulating crypto. but if ever there is one then i guess i will be having no choice but to stay away from it whilst not committing something illegal.  |
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stayeduptolate
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June 22, 2018, 12:30:26 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?
Ban is something like complete inhibition of use of something and I think bitcoin could never be banned. Bitcoin is very volatile, versatile and sustainable crypto currency and most important it is decentralised crypto currency and no country can ban it , only country can inhibit the use of bitcoin or any other crypto currency in their nation only, there is no offence in holding bitcoin and yes the person will not send to jail if he owns bitcoin, he can use international exchange with ease. |
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inv_ker
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Activity: 144
Merit: 30
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June 22, 2018, 12:47:10 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?
To ban means to make or state something that it will never be shown and used. This is being conducted and implemented by governent. |
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Ekanenf
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June 22, 2018, 01:42:40 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?
i don't really know because my country is not banning bitcoin, but i think ban mean you cannot using it. i mean you cannot using or holding bitcoin with their knowledge, but you can still use it if they don't know you. Ban means that you are not capable of using it because they have blocked all of the resources that you could have to earn or to use bitcoin. Too sad if you have a very close minded government, because that would prevent you guys to make wealth through bitcoin. But if you really wanted to earn bitcoin, go to other countries where it is legal like in Japan or wherever the closest place in your home. |
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3rrr angels
Newbie
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Activity: 89
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June 22, 2018, 02:00:31 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?
Ban in crypto terms it means not allowing people to participate in trading, bounty campaign or any activities organized, it is also refers to a country of not allowing cryptocurrency to enter in their jurisdiction. |
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Raggie
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Activity: 462
Merit: 10
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June 23, 2018, 02:53:27 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?
Yes it can be. If the regulations about bitcoin in some country very strict, the offender can sent to jail. I think trading is ok. But you must find other exchange than your country exchange if they ban bitcoin. |
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code
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June 23, 2018, 03:36:24 PM |
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was unlikely such events, the legal framework and practices yet. if such an event happens, it will immediately become known
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takadada
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July 03, 2018, 02:30:47 AM |
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Just like your thought, if your country prohibits Bitcoin you should abide by the law, there are some countries that only prohibit bitcoin transactions, but it allows us to have bitcoin as an asset. If the country forbids us even the ownership. Then, the risk depends on the law of the country.
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FurDich
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Activity: 208
Merit: 10
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August 27, 2018, 03:50:40 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 meaning of the word BAN is to illegalized something . It is against the law , if someone will still on it then therefore it should be punished by the law . |
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AlexAtom
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YOUC - www.youengine.io
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September 05, 2018, 09:55:13 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?
Well, i think ban means cannot be used. for example if your country banning bitcoin, you wont be able to use bitcoin. Either buy/sell or trade, you won't be able to do that with bitcoin. It must be a security reason, they cannot know the owner of bitcoin, because everyone can make bitcoin wallet without their identity. |
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Kekyr
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September 05, 2018, 04:28:13 PM |
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All that I know is that if you were banned you can't use any of your accounts because your IP are banned.
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darkie199
Jr. Member
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Activity: 294
Merit: 9
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September 05, 2018, 05:16:03 PM |
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Cryptocurreny is inbuilt with the fact that you are not detected or governed by anyone as you probably know that it's secure as well as not looked after by anyone. In terms of holding crypto in any exchange, you probably submit your KYC (meaning Know your Customer), where you submit your personal information including ID as well as your identity. There are certain rules and regulations according to individual countries, some banned crypto while some are gladly accepting blockchain to make industry secure as well as more technical. If you are holding crypto in your exchanges you are more threatened to be detected by the Government which either results in permanent block/ban or even as rules can put you behind the bars.
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