Unban Bitcoin in pakistan

[goldade]

Bitcoin and other cryptocurrencies were banned in Pakistan, Now according to some sources, the Pakistani government is going to unban crypto including BTC.
What's your analysis? How BTC market will affect by this? is this charming news for crypto lovers from Pakistan?

I'm happy the Pakistani government have seen the light of bitcoin. They have come to realise the numerous benefits bitcoin has to offer to the people and the government itself. Truth be told, they have no reason to ban it in the first place.
However, I do not think the unban is going to to affect the bitcoin market in anyway. There is really not much input coming from Pakistan in the bitcoin market. It has happened before. There was no significant effect when the Nigerian government unbanned bitcoin and made it usable for the people

[k@suy]

Bitcoin and other cryptocurrencies were banned in Pakistan, Now according to some sources, the Pakistani government is going to unban crypto including BTC.
What's your analysis? How BTC market will affect by this? is this charming news for crypto lovers from Pakistan?

It was definitely a charming news for crypto lovers from Pakistan coz to be honest it is much better to trade or invest in bitcoin without the fear of being caught by the government because it was against the law.
How BTC market will affect by this announcement of unbanning of Pakistan? Well I can't figure it out because for me this may give a positive feedback to to Bitcoin market and to the cryptomarket too, but let's see what it may affect though.

[Alucard1]

It would be good if there is a source on your post so we can also read about this thing, there are already a lot of fake articles and rumors always that we may see online, if this is true then it will affect the price of bitcoin, the bitcoin may rise a little bit. This is really good news for the people in Pakistan as they can now explore bitcoin without doubting that they can hunt by any authority, not only Pakistan people will benefit from it also the crypto community as well.

[tranthidung]

If there are effects, it would be local effects, in your nation first. Then, if your nation has a big role and effect, it will in turn affect the global market. I don't know much about your nation but it seems that your nation does not have big communities for Bitcoin & crypto.

It is not about local or international effect, Pakistan is not a country like USA or China that have the economic power, if cryptocurrencies is legalized in China today, the price of cryptocurrencies will increase just because of how China is, also if bitcoin is banned in USA today, the price of each coins will reduce.
...
I remembered when India legalized crypto, not long that South Korea also legalized it within the same week, but crypto prices were not affected positively at the time, which can be a sign that the citizens were even trading cryptocurrencies during the ban.

You are correct but still missing a point.

By saying about local or global effects, I implied about trading volume in local market. If locals feel safe with crpytocurrency trades, they will more actively buy, hold, trade crypto that all cause higher trading volume.

Local effects will only turn to be global effects if

• That nation is big in crypto, such as China, the USA, Russia.
• That nation is small but is a component of a bigger net-effects that are made by many other small nations.

Charts and my previous post represent my opinion that I don't believe any ban or allowance for crypto trading in Pakistan will create global effects.
Correlations are like these

• Global effects ➔ Local effects
• Local effects ? Global effects

[finaleshot2016]

Bitcoin and other cryptocurrencies were banned in Pakistan, Now according to some sources, the Pakistani government is going to unban crypto including BTC.
What's your analysis? How BTC market will affect by this? is this charming news for crypto lovers from Pakistan?

It depends.

If Pakistan has a large number of potential crypto buyers, the price of bitcoin will skyrocket because the vast majority of them will buy it. Countries that are decriminalizing or legalizing the use of cryptocurrency may influence other countries, serving as a stepping stone for the global adoption of bitcoin.

Promoting cryptocurrencies has the potential to increase the number of cryptocurrency investors, which is a positive thing and a big benefit for us. 

[sunsilk]

The government will never know who are those keep on transacting with the use of bitcoin.

They might have banned it and if there is another rumor that soon they will lift the ban, then it is much better if that's the news.

[jinxing]

Bitcoin and other cryptocurrencies were banned in Pakistan, Now according to some sources, the Pakistani government is going to unban crypto including BTC.
What's your analysis? How BTC market will affect by this? is this charming news for crypto lovers from Pakistan?

For local Pakistani residents this might be interesting news because the government is able to cancel the cryptocurrency ban, but for all crypto users, this will only be a discussion and will not affect market price movements

[dikistutmazsabri]

I think it is not a very correct decision for Pakistan to ban bitcoin. Some countries are biased towards bitcoin. and this, I am sure, upset the people living in that country. Some states are considering banning bitcoin and other cryptocurrencies due to events such as fraud. but such risks are things that can happen in all areas. states can enact regulations instead of prohibiting them. that would be a better decision.

[nightrider]

It's a wonderful thing! The Pakisran government was rightly wrong to lift the Bitcoin ban in their country. It allows Pakistani citizens to invest in bitcoin. They can get rich quickly. People's lives here will be developed. Then the bitcoin market will expand. Bitcoin's value will hit new heights.

[arapgeceleri]

that's what it should be. The imposition of bans against crypto makes me angry. I do not understand why people are rich, the expansion of this market and the support of the state is not wanted so much. I am sure the people of Pakistan are very happy about this. this could mean new investors and new records in the crypt money market.

[Zemomtum]

Bitcoin has been banned and unbans in several countries and there has been no negative effect since it is global and decentralized and one country cannot hold it to ransom. Until Government at all cadre quickly adapt and switchgear to digital form of payment, the drawback will be huge on any that is holding back. Digital currency is here to stay and to save the life from scrutinization

[Blitzboy]

Is it true? Can you provide us the source of this information. If they really unban cryptocurrency, it is truly a good news for bitcoin community. Yet, this is not a big news since Pakistan is not a big country. But there might be whales using this news to manipulate the current market

[maxreish]

Hopefully, the government will reconsider and unban it in their country. If they may see that bitcoin can also be at help in increasing the economic growth of their country and can also help their people to engage in such new technology that also benefits them.
 
  But then again, of course I believe each country has own beliefs and own jurisdiction about a particular thing. If majority of the government officials reconsider to unban it, there is a big chance that Pakistan will go back into trading activity.

[cabron]

Hopefully, the government will reconsider and unban it in their country. If they may see that bitcoin can also be at help in increasing the economic growth of their country and can also help their people to engage in such new technology that also benefits them.
 
 But then again, of course I believe each country has own beliefs and own jurisdiction about a particular thing. If majority of the government officials reconsider to unban it, there is a big chance that Pakistan will go back into trading activity.

Pakistanis will take it as BTC being legalized and will make more transactions related to BTC like p2p. The Chinese ban BTC for a long time yet we can see they are still buying BTC, it didn't stop them from investing in BTC. I think the government had seen that it only make the people interested instead and most likely they see more people engaged in it instead.

[n786]

Maybe soon

[TastyChillySauce00]

if the unbanning didn't benefit the government themselves by any mean I doubt they really gonna unban it after all as you mentioned the news is still uncertain but if they truly do then it's really good.
Though after the ban I'm pretty sure the trading volume in there not gonna be that much which means it's not gonna affect bitcoin market that much, still a good start for the neighboring countries to follow as well.
If they can see the opportunity behind crypto they will surely unban it but sometimes lawmakers view clouded by other political interests.

[nagoarif]

Bitcoin and other cryptocurrencies were banned in Pakistan, Now according to some sources, the Pakistani government is going to unban crypto including BTC.

• UsefulTulips.org
• LocalBitcoins and Paxful Pakistani rupee (PKR) Combined Volume over years. From the spike on chart, it seems your government banned crypto circa 2018. Is it correct?

Yes you are right

[nagoarif]

If there are effects, it would be local effects, in your nation first. Then, if your nation has a big role and effect, it will in turn affect the global market. I don't know much about your nation but it seems that your nation does not have big communities for Bitcoin & crypto.

It is not about local or international effect, Pakistan is not a country like USA or China that have the economic power, if cryptocurrencies is legalized in China today, the price of cryptocurrencies will increase just because of how China is, also if bitcoin is banned in USA today, the price of each coins will reduce.

But in countries like Pakistan, what you need to know is about their interest in cryptocurrencies, also about the recent crypto trading volume in the country. Cryptocurrencies were banned in country like Nigeria, but no reduction in trading volume in the country, other countries do not even care, and crypto prices were not that affect at all.

Are Pakistanis still trading after the ban should be the question, if they are trading just like Nigeria are still trading crypto after the ban, the price may not really be affected immediately. Also with how the country is, I do not think if crypto are legalized in the country will result to any significant effect on bitcoin price.

I remembered when India legalized crypto, not long that South Korea also legalized it within the same week, but crypto prices were not affected positively at the time, which can be a sign that the citizens were even trading cryptocurrencies during the ban.

[nagoarif]

This is good news for the people of Pakistan. They can invest in bitcoin and become rich. The bitcoin market is increasingly expanding. But besides that it creates opportunities for criminals to function. Money laundering, black credit will flourish in this country. The Pakistani government will work hard to make bitcoin work.

[Leviathan.007]

I can see recently many governments are doing taking everything hard for bitcoiners sadly pakistan is one of them. But don't forget a few things.

- Any governments can suspend any exchange from local exchanges to bitcoin. But there are still people trading bitcoins in social networks such as telegram or even face to face methods and no government can make them stop. However, by doing so and suspending the official local exchanges there will be many scammers and frauds abusing this situation and this is the government's fault.

- Cryptocurrencies are progressing in all over the world and many countries are entering the market. While some other like pakistan will stay away from it. Obviously, they will feel regret soon because they are losing this golden opportunity.

- Considering the current interest in the market, banning cryptocurrencies will not make people to stop using it in long term and there will be many underground crypto deals in countries where bitcoin or crypto is not allowed.