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Author Topic: Bitcoin and Lockdown in every country  (Read 291 times)
VanityWallets2015
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September 19, 2020, 05:04:37 PM
 #21

Bitcoin is a decentralized any where in the world,  you don't need to visit any government officials befor you can join the platform, because is not control by the government.
During the pandemic many youths  in some  countries which allow their youths to engaged their self in cryptocurrency to reduce unemployment in their societies.

I agree with your point. Since this pandemic started, many has been unemployed and had a hard time seeking for a job.
And this forum being accessible to everyone for as long as you have internet, has been a significant aid to those people.
As you have mentioned, it helped the youths, especially to places that do not have jurisdictions regarding cryptocurrencies.

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September 19, 2020, 06:54:36 PM
Last edit: September 19, 2020, 08:16:56 PM by verita1
 #22

When I need cash I look for a P2P exchange platform where I can sell my Bitcoin at the best price and safely. And I can also see that there is good activity in trade with my compatriots. There is a good reference of Venezuelans with a high volume of trade in localbitcoin that has been reviewed by specialized media, which indicates that they are using Bitcoin to protect their capital.
For my part I can say that Bitcoin has served me as a means of payment due to my signature and also as savings.

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September 19, 2020, 07:38:55 PM
 #23

Bitcoin growth was so high during the lockdown, I don't think India's only experienced it. But indeed globally during the lockdown,
Bitcoin in any country experienced significant growth. Because when the lockdown occurs people will look for ways to be able to make
money even though they are still at home. And by trading and investing in Bitcoin it can be done. So in 2020 Bitcoin's performance is
very good, with lots of people starting to buy Bitcoin, and this is what made the Bitcoin price reach $ 12,000 in August. I believe that
by the end of this year Bitcoin will be able to hit the price of $ 15,000.

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September 19, 2020, 07:41:56 PM
 #24

I've mentioned about my country, INDIA
            WHAT ABOUT YOURS ?

For me, it's actually okay to regulate the use of cryptocurrency on each country, but though in the case of bitcoin, this could not happen since no one can regulate it. But on tax implementation on cryptocurrencies, as long as an investor is gaining profit through this cryptocurrencies, then why not give some to your own government. But though this is a really debatable topic, I agree on just a little taxation because it could help their country's economy to rise after the negative impact of the lockdown.

States do not yet understand the full meaning of cryptocurrency and do not understand that it can help them in the development of the financial system of the entire state. The same transaction taxes can go to the state Treasury and then it will become psychologically easier for people to switch to cryptocurrencies. I believe that the state should be engaged in PR and advertising of cryptocurrency and implement it in its financial instruments.

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September 19, 2020, 08:49:50 PM
 #25

Unlikely, our country did the support and never heard about banning but they are giving us the word to warns people when it comes to investing Bitcoin as the spread of scamming activities holding the name of Bitcoin is getting worse. Although we have that freedom to use and accumulate Bitcoin but the problem is that only a few establishments accepting Bitcoin that it slows down the adoption.

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September 19, 2020, 08:56:25 PM
 #26

Unlikely, our country did the support and never heard about banning but they are giving us the word to warns people when it comes to investing Bitcoin as the spread of scamming activities holding the name of Bitcoin is getting worse. Although we have that freedom to use and accumulate Bitcoin but the problem is that only a few establishments accepting Bitcoin that it slows down the adoption.

in time, more merchants will accept bitcoin or crypto. you really cant blame them because even right now, the tx fee is very high and sometimes if you pay low fees it would take long before your tx go thru.
 so if they use other alts, maybe doge or xrp, they will appreciate more about the benefits of using crypto - because they are cheap and fast. but since the popular one is bitcoin, the tendency of most businesses is to stick with btc. it is indeed work in progress, this adoption thing.

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September 19, 2020, 10:01:29 PM
 #27

900% growth is good but what we will see if india will ban crypto again as they want?

I wonder how they're getting legitimate statistics if bitcoin tradinfg for fiat is not allowed.

Are they measuring black market numbers or stats absed on altcoin and stablecoin exchange rates?

This covid pandemic indeed requires us to earn income from home because it is no longer possible to get money as usual.  and one that he can rely on is bitcoin because it is not affected by corona

It did not change that much. I know people who work from home like teachers and they keep getting exactly the same wages every month with the difference that now they don't have to commute to work. The lockdown wasn't hard on everyone.

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September 19, 2020, 10:41:55 PM
 #28

As for Nigeria during the lockdown crypto currency was a plus for us as many made huge amount of money from crypto currency exchange and other investments. But the now there is a threat on crypto currency as the Government is kicking against it.
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September 20, 2020, 10:39:32 AM
 #29

As for Nigeria during the lockdown crypto currency was a plus for us as many made huge amount of money from crypto currency exchange and other investments. But the now there is a threat on crypto currency as the Government is kicking against it.

Wow, I assume most of you guys from Nigeria are trade experts?
I myself is struggling to find anything crypto related which I could actually earn "huge" amount of money during this lockdown period. The least I can do is to hope for Btc to rise like a 2017ish bullrun.
But, heck how do you guys pull a "huge" amount of profit like it's a normal thing in crypto space? Lol.

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September 20, 2020, 01:23:20 PM
 #30

Nothing much change in my country. Traders still doing there activity, it's just that those who's job was affected were turn their interest into cryptocurrency trading.

Each countries has different crypto regulations. Our country is a crypto friendly community, this pandemic actually put some opportunity for some to try other passive income such as bitcoin trading.

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September 20, 2020, 01:49:18 PM
 #31

In my country, the use of the bitcoin is not too popular but only a few people are approaching the use of it.

In the country, I think they are just ignoring the use of the bitcoin but I and my friends are still supporting the use of the bitcoin trading some of us are already small earners.


Nothing much change in my country. Traders still doing there activity, it's just that those who's job was affected were turn their interest into cryptocurrency trading.

Each countries has different crypto regulations. Our country is a crypto friendly community, this pandemic actually put some opportunity for some to try other passive income such as bitcoin trading.

I'm so proud that my country see supporting the use of the cryptocurrency unlike the other country they are banned the use of this. On my county there are some businesses use this as a payment method.

Right now I didn't try this for now because of this covid

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September 20, 2020, 02:31:43 PM
 #32

It's great to know that this pandemic many people are looking in Cryptocurrency but I feel sorry for India since most of the trading services are now banned now I just want to know if using cryptocurrency is illegal as well or just trading it?
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September 20, 2020, 03:06:42 PM
 #33

I think in my country the citizens that are joining crypto are also expanding, it seems they realize that it's also good to invest especially in cryptocurrency, but for me the majority of them are getting scammed, because not only the price that is growing but the also the scams and fraud are spreading during lockdown.

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Wapfika
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September 20, 2020, 03:13:11 PM
 #34

Unlikely, our country did the support and never heard about banning but they are giving us the word to warns people when it comes to investing Bitcoin as the spread of scamming activities holding the name of Bitcoin is getting worse. Although we have that freedom to use and accumulate Bitcoin but the problem is that only a few establishments accepting Bitcoin that it slows down the adoption.
Since there are no regulations yet or no words from government only some warning on investing with knowledge an d study to avoid scams that makes adoption too slow. Many people still don't know how to use it as there seems no pplopular establishments yet use it. Sometimes regulation can be for good and at the same might be for bad but one thing is sure that those who really want to earn and invest even with risk already know btc and may already be taking advantage of its benefit especially during this lockdown.

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September 20, 2020, 04:40:48 PM
 #35

I think in my country the citizens that are joining crypto are also expanding, it seems they realize that it's also good to invest especially in cryptocurrency, but for me the majority of them are getting scammed, because not only the price that is growing but the also the scams and fraud are spreading during lockdown.

It could just depend on the country or the government, we can't really expect the government to easily just accept bitcoin since the technology is decentralized, government is not always gonna risk just to support it.

I think in my country bitcoin is not really popular and not a big percentage of people are using bitcoin probably because of a lot of news that involving it in scams, Government do not ban it but not really support it.

The government can't really fully banned it since people can still use it even if they did ban it, lockdown also could potentially boost bitcoin at some point because the government is encouraging digital transactions.

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September 20, 2020, 05:10:46 PM
 #36

Those growth figures are huge. Newer exchanges, particularly WazirX seem to have captured a lot of attention.

The growth is huge in relative numbers, yet the absolute numbers are tiny. On coinmarketcap Bitcoin has a total volume of 23 billion, so India's volume is just 1/1000th of it, and it's really small, as India is one of the largest countries in the world in terms of population. Also, the author confuses Bitcoin and cryptocurrency, so if that figure wasn't the volume of Bitcoin and was the volume of all crypto trading, than it's even much smaller.

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September 20, 2020, 06:21:15 PM
 #37

It's great to know that this pandemic many people are looking in Cryptocurrency but I feel sorry for India since most of the trading services are now banned now I just want to know if using cryptocurrency is illegal as well or just trading it?
Are you from India? What's your point anyway why you have to know? A quick google search will help you to get your answer but anyway here it is.
https://news.bitcoin.com/will-india-ban-crypto/

There's a rumor circulating in India that the government might ban again the use and trading of crypto currency. Yes, it does create a little panic over to those who have crypto currency but Indian government hasn't been making a move yet.

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