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Author Topic: When the government forbids cryptocurrency  (Read 844 times)
asdnguyenthanhtin
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June 20, 2018, 09:54:42 AM
 #1

When the government forbids cryptocurrency

In my country, the government is gradually apply internet and cryptocurrency control decrees. Previously, they banned direct Bitcoin transactions. Currently, they are banning crypto-related bank transfers. And of course, ICOS is also gradually banned .
Initially, they said they would not ban crypto and bitcoin. But now their actions show that they do not want crypto to exist.
Is their purpose not to secure crypto investors? They are trying to make it their own
They see huge profits being lost for themselves
And when the internet management program took place in my country, maybe I could not come up here to share my views like this. So sad
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June 20, 2018, 10:27:31 AM
 #2

You did not say what country you are talking about but such country is suppose to look at the positive side to cryptocurrency and the fact that so many countries have started being positive on it.

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June 20, 2018, 10:49:37 AM
 #3

If they will insist of banning cryptocurrency in that country then you as a bitcoin enthusiast must do something like opposing this action by means of social media with the groups of investors who also be affected by it.. Revolution is one way to push crypto to the world that’s the first option that this is build..

This oppression is also a human right violations or freedom to choose what is right for people been compromised.. But if this won’t change a thing then use Virtual Private Network(VPN) to hide from authority and the last option and must be think carefully is leaving that country behind..

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June 20, 2018, 11:04:59 AM
 #4

They can ban cryptocurrencies involvement with the real world but they cannot stop your use of it. There is no way they can control your use of it for transactions etc. It sucks they're doing this but there's also a limitation on how much they can do.

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June 20, 2018, 11:08:57 AM
 #5

very deeply pity what happened to you and your friends, may the government there immediately open his heart and immediately provide opportunities and looseniness again in bitcoin and cryptocurrency, amen
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June 20, 2018, 11:12:15 AM
 #6

When the government forbids cryptocurrency

In my country, the government is gradually apply internet and cryptocurrency control decrees. Previously, they banned direct Bitcoin transactions. Currently, they are banning crypto-related bank transfers. And of course, ICOS is also gradually banned .
Initially, they said they would not ban crypto and bitcoin. But now their actions show that they do not want crypto to exist.
Is their purpose not to secure crypto investors? They are trying to make it their own
They see huge profits being lost for themselves
And when the internet management program took place in my country, maybe I could not come up here to share my views like this. So sad


May I know which country you are from? It seems like a violation of basic human rights! But yes, a lot of governments are well known for doing so. However, it is very very hard to completely ban crypto by any particular government by implementing network limitation infrastructure. There are ways to bypass those security measures and a tech-savy person will know how to do it.

In India, the government banned porn websites few years back. However, they lifted the ban after facing huge protest. But tech savy youth didn't say a word because they knew how to bypass that. It's not easy to ban crypto. Governments can try but eventually they will have to accept the fact that it is uncontrollable.  

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June 20, 2018, 11:12:28 AM
 #7

Hmm, may thats in the vein of every other government on the planet and only crypto people are in favour of it. So this is not new thing to anyone here, everyone has seen there government reaction in negative ways only. I think it will take lot of time for them to understand that they can also get benefited from it in terms of the heavy taxes that they will receive. But may be they know this already and have got some issues in placing the both type of currencies under one roof. More pros and cons are there for the crypto currencies so yeah thats how the government thinks and acts over it.

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June 20, 2018, 11:16:22 AM
 #8

If they ban everything about cryptos in your country, that is to their peril and not yours because cryptocurrency is decentralised. Moreso, the cyberspace is still open for you to operate except where it is ban and this is likely not going to happen.

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June 20, 2018, 11:19:55 AM
 #9

Gladly in our country crypto/bitcoin isnt banned.Even me if bitcoin will be banned in my country I will feel annoyed and hopeless.Dont know what to do if that will happened in my country.How about do some research on how to deal things.
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June 20, 2018, 11:29:03 AM
 #10

You did not say what country you are talking about but such country is suppose to look at the positive side to cryptocurrency and the fact that so many countries have started being positive on it.
Probably there is no sense to say from which country OP. In fact, all governments are opposed to cryptocurrencies. Authoritarian governments prohibit the use of cryptocurrencies by their decrees. Democratic governments do not prohibit the use of cryptocurrencies but they want to destroy them through regulation.
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June 20, 2018, 11:37:57 AM
 #11

Yes, that's true, there is an anti-crypto "movement" taking place world wide because the governments/banks are afraid they could loose control of the money.

There will always be a way to go around it. For example there are 3rd parties that can set themselves in between the banks and the exchanges and still allow you to be able to use your funds.

Research more on Revolut, Mr. Tango, N26  Cool

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June 20, 2018, 12:05:01 PM
 #12

The government may ban cryptocurrency during this time, but certainly, in the future, the cryptocurrency will triumph over the government. It seems that the government is conservative when they refuse access to future technology
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June 20, 2018, 01:54:30 PM
 #13

The government may ban cryptocurrency during this time, but certainly, in the future, the cryptocurrency will triumph over the government. It seems that the government is conservative when they refuse access to future technology


Well it's going to be a whole lot different though if all governments ban crypto. I think that'll doom this market since an underground market that has been illegalized wouldn't attract that much mainstream support. It's a good thing that more governments today see crypto in a more positive light so it's probably a fact already that this market will move forward to the future.

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June 20, 2018, 02:04:08 PM
 #14

If i'm not wrong,may be he is speaking about India.Its the Indian government which said that it would not ban cryptos but then the central bank RBI issued a circular to all the banks not to deal with companies linked with cryptos.Also they have an idea to launch their own digital currency named Lakshmi.

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June 20, 2018, 02:10:50 PM
 #15

They can ban all cryptocurrencies and transactions. But, they can't prevent investors. I hope, your country sees positive sides of cryptos and set free it. I wonder, why does a country forbid something like that?
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June 20, 2018, 02:12:47 PM
 #16

When the government forbids cryptocurrency

In my country, the government is gradually apply internet and cryptocurrency control decrees. Previously, they banned direct Bitcoin transactions. Currently, they are banning crypto-related bank transfers. And of course, ICOS is also gradually banned .
Initially, they said they would not ban crypto and bitcoin. But now their actions show that they do not want crypto to exist.
Is their purpose not to secure crypto investors? They are trying to make it their own
They see huge profits being lost for themselves
And when the internet management program took place in my country, maybe I could not come up here to share my views like this. So sad

Just leave the country, why would you even want to live somewhere where the people are so irrational? Or I guess you can always use a vpn to hide your internet traffic.
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June 20, 2018, 02:16:05 PM
 #17

Your name seems Vietnamese to me, but the recent bans point out to india prohibiting banks to meddle with cryptocurrency-related affairs. The general public interested in bitcoin seem to be the most affected with the recent sanctions and as such, it's likely that people would just forget about procuring bitcoin since it might not be worth the hassle after all. P2P trades aren't restricted, so LBC is still a viable way to go., but bank transfers to an exchange? It would be difficult to trick the bank.

Also they have an idea to launch their own digital currency named Lakshmi.

It's kind of hypocritical for the Indian government to propose such a project while their citizens think that crypto altogether is bad because of them. There's a huge possibility that this crypto they're planning to launch would flop and not be supported by the locals.

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June 20, 2018, 02:18:56 PM
 #18

When the government forbids cryptocurrency

In my country, the government is gradually apply internet and cryptocurrency control decrees. Previously, they banned direct Bitcoin transactions. Currently, they are banning crypto-related bank transfers. And of course, ICOS is also gradually banned .
Initially, they said they would not ban crypto and bitcoin. But now their actions show that they do not want crypto to exist.
Is their purpose not to secure crypto investors? They are trying to make it their own
They see huge profits being lost for themselves
And when the internet management program took place in my country, maybe I could not come up here to share my views like this. So sad


Just relax. From that situation I think that they are carefully studying about crypto and blockchain whether it will be a threat to their economy or not.

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June 20, 2018, 02:42:52 PM
 #19

They can ban all cryptocurrencies and transactions. But, they can't prevent investors. I hope, your country sees positive sides of cryptos and set free it. I wonder, why does a country forbid something like that?

Who can ban. Govenment huh! They cannot do any shit to the decentralized crypto currencies bro. There are many people like you understand the crypto currencies wrong and go with the panic selling mate.
Please review the marketplace movement and volume upon that you can make the transaction and trades with the coin you holded bro.
None of government cannot lock the transaction or anything if they annouce the ban for bitcoin.


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Coin-1
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[ICO is live] TOKEN SALE until Oct 5, 2018


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June 20, 2018, 02:58:21 PM
 #20

I guess your country is Bangladesh or India. In these circumstances the crypto exchange markets will go away into the dark internet. You can to use VPN, TOR or other anonymizers to make a transactions. To be honest, it is difficult to ban the crypto currencies from the technical side. The government of your country don't know how to control this market, and they did a mistake, I think.

Neluns
♦ New Generation Financial Ecosystem ♦
Pre-sale on Aug, 1
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