When the government forbids cryptocurrency

[asdnguyenthanhtin]

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

[Kingofbitcoin12345]

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..

[avikz]

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.  

[wantjokull]

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.

[vlad230]

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 

[trickshot22]

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.

[dothebeats]

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.

[jvdp]

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.

[Coin-1]

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.

[Basmic]

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.

How can vpn help you? Perhaps you don't understand the problem? You can make transactions in cryptocurrency but what next? In order to sell cryptocurrency for Fiat you need to be able to receive payments to a Bank account or card. In countries where cryptocurrencies are prohibited, this is impossible. How can vpn help you with this?

[1Referee]

You can make transactions in cryptocurrency but what next? In order to sell cryptocurrency for Fiat you need to be able to receive payments to a Bank account or card. In countries where cryptocurrencies are prohibited, this is impossible. How can vpn help you with this?

He's talking about conducting transactions (ie, moving value from point A to point B on-chain).

You either choose to not sell anything, or you choose to sell locally for cash, which happens to have gained a tremendous amount of use. Local markets are exploding and there is a lack of coin supply. That's why premium's exist. The fewer the available number of coins, the higher the premiums, and people actually are more than willing to pay these premiums. Some times it helps to be a little more open minded before ruling out other ways of getting things done.

[ArkiCrypto]

The government has the power.

There are some countries that banned cryptocurrency for a reason such as using it to do illegal trades, money laundering and It may affect the whole economy. Just like what I've said, the government has the power... a power that can ban the cryptocurrency from using to their country but they can't stop the cryptocurrency in the whole world or in the market.

So to answer your question the government only forbis the crypto if it has a lot of impact to their country (Of course if the impact is negative)

[Sir Cross]

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.  

Then it's possible that the same will happen when there is a crypto ban since there should be many users who will be enraged by the ban. In China, numerous websites are blocked yet in can be surpassed by VPNs. The same may be done in crypto bans or any other restriction in the internet. The government can't do much and has no total control over the internet unless they choose to totally eradicate it in their country which is highly unlikely as well.

[asdnguyenthanhtin]

I know some people do not believe. But your country is not like my country. The political game in my country is more scary than you think. When Internet control programt is enforced, it will greatly affect the transparency of the internet and the crypto market. It is difficult to convert bitcoin or eth into paper money. That really is a big problem

[sana54210]

May looking at Bitcoin, I don’t really see anything wrong with it. Bitcoin has helped several people to achieve something in life, people like me. The money I have now is because of Bitcoin. I wouldn’t have gotten to where I am now if I didn’t involve myself in doing Bitcoin business. Now I’m ten times richer than how I have ever been in life. So Bitcoin is good, despite that there are people who are using it for a bad purpose.

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.

Yes man you’re very right. I don’t really know why they are doing such, I don’t see so much bad in Bitcoin, although they have said that it can be used as money laundering tool, but sincerely, Bitcoin has its positive sides and they should try to understand that. Another thing I believe makes people to hate Bitcoin is because it is too volatile. If it doesn’t fluctuate much, they might consider it.

[romero121]

Same time there are more countries that make a big difference from other countries with the massive adoption. Governments never intend to forbid cryptocurrency, but due to the pressure from the banking sector at times they initiate hard decisions against cryptocurrency. This is common around and once after regulations several countries have adopted bitcoin which shows that the continued research will make the government understand the need of cryptocurrency.

[deklitt]

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

right now I don't know which country you mean about prohibition of bitcoin usage as well as limiting bank access related to cryptocurrency.
and for internet access restrictions i think there are various alternatives that can be done for access to bitcoins such as with VPN access.
But the polemic of course prohibition of banking access related to cryptocurrency because we know if banks become a means to access cryptocurrency.

[sepeda karat]

When high volatility hurts investors, then the problem will return to the digital literacy coverage of the people of a country. "The digital literacy of Indonesian society is different from that of Europe or America, where they buy cryptocurrency and then sell it, but our society can be prosecuted by regulators or BI's attitude forbidding it because we love this society, part of our moral control,".

[hugeblack]

Governments always try to impose restrictions on new or out-of-control things. When they fail, they accept them and impose fees on it.
If you divide all the countries of the world, you will find that there are no two non-beneficiaries of the Bitcoin, which will taxes and others are afraid of Bitcoin so impose restrictions.
You can take advantage of the Bitcoin property "Peer to Peer" and send to anyone for cash or any payment method. "localbitcoin."

[Dreamchaser21]

Unfortunately the government in any country has the ability to take away cryptocurrency or even regulate it. One of the main reasons why the government decides to ban cryptocurrency is because they are not able to regulate it enoug.

They will not stop making pressure to cryptocurrency especially when this market grow more in the coming years, so for now let's keep on believing that our government will support this technology.

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.

Hope that every government have their own legal team to study well the cryptocurrency and comes out to a good feedback.