After China, Now it's Mexico's Turn to Ban Crypto

[john1010]

snip

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Did you understand what I just said?

Bitcoin don't need those countries.

Those countries need bitcoin.

I say:

BRING IT ON!

I agree with you, Bitcoin/ALts do not need these country, days will come this country beg to have cryptocurrency because time will come, their monetary system will become bankrupt, and they need to survive only crypto can do that for them.

[Sirait]

After the Chinese government banned the use of cryptocurrencies a few weeks ago, the Mexican government is now banning the use of cryptocurrencies in the financial system.
https://www.coindesk.com/mexicos-treasury-secretary-confirms-cryptos-are-banned-from-financial-system

Will the ban have a negative impact on the future of crypto? there are already several countries that prohibit the use of cryptocurrencies.

Mexico is one of the countries with a large level of the cocaine trade, what happens in cryptocurrency is adopted there, of course, it will be tracked wherever the illicit funds are directed and of course, the Mexican government is also involved in that so don't be surprised if they are banned cryptocurrency.

[Slash61]

looks like the impact of what Mexico is doing is not big. maybe because there are not many companies and crypto market players from there. very different from what happened because of China.
the market is currently getting stronger. maybe the impact will last for quite a while because altcoins also strengthen with bitcoin. Unlike the previous situation, the altcoin market is growing quite well.

[clint25n]

I think we no longer need to worry about what these.countries.are doing, especially what China is.doing because they have banned bitcoin circulation.in their country since yesterday, so we don't need to think about what they will do, because this is.a trade. global market, sometimes the price will go up and down, depending.on how the current market conditions.are

[Fredomago]

looks like the impact of what Mexico is doing is not big. maybe because there are not many companies and crypto market players from there. very different from what happened because of China.
the market is currently getting stronger. maybe the impact will last for quite a while because altcoins also strengthen with bitcoin. Unlike the previous situation, the altcoin market is growing quite well.

It's good that in anyhow the impact just like what you have said is not that much compared to how China impacted the entire market, there' are fewer players which been affected by this news.

Also, with how those known alts that now showcasing their worth, investors are working with it and not just tied mostly with Bitcoin.

This kind of news brings interest to those newcomers who are seeking for  good place to invest. Learning the process and understanding all the potentials will move them to ride with this market.

[Helpme_please]

Will the ban have a negative impact on the future of crypto? there are already several countries that prohibit the use of cryptocurrencies.

So far there are many countries where cryptocurrency has not been legalized for even one day. Yet has cryptocurrency stopped? We got the 2017, 2021 bullrun.  Cryptocurrency is moving forward every day and will soon become an integral part of the world's financial system.

this is our future , cryptocurrency  have many benefit if compare to fiat or other payment gateway. COuntries who banned bitcoin or other cryptocurrency actually  didn't realize how big market potency to give some contribution to government , moreover from taxes that applied to crypto investors or traders. most of countries busy to block this ledger technology development

[Mr.Scott]

Will the ban have a negative impact on the future of crypto? there are already several countries that prohibit the use of cryptocurrencies.

So far there are many countries where cryptocurrency has not been legalized for even one day. Yet has cryptocurrency stopped? We got the 2017, 2021 bullrun.  Cryptocurrency is moving forward every day and will soon become an integral part of the world's financial system.

I'm getting bored, why the hell same thing happens every time when market start growing. I'm expecting good days for cryptocurrency market are waiting. No matter what, crypto market moving forward and replace back dated decisions made by different government.

[geegaw]

Will the ban have a negative impact on the future of crypto? there are already several countries that prohibit the use of cryptocurrencies.

So far there are many countries where cryptocurrency has not been legalized for even one day. Yet has cryptocurrency stopped? We got the 2017, 2021 bullrun.  Cryptocurrency is moving forward every day and will soon become an integral part of the world's financial system.

I'm getting bored, why the hell same thing happens every time when market start growing. I'm expecting good days for cryptocurrency market are waiting. No matter what, crypto market moving forward and replace back dated decisions made by different government.

When you pay attention to these monstrosities, you can think about global manipulation or say, every time crypto grows there is no stopping, governments demand that it narrow down these powerful lights before it becomes the source of social madness and damages some economies but these can only be said to be temporary freezing processes, when the temperature of crypto increases, the rules of cooling will be broken. Mexico is also not the kingdom of crypto, their ban cannot blow up the crypto market

[sherenikaw]

As long as there are many countries that accept and support crypto then the future of crypto will not be threatened, I think only a few countries ban crypto compared to countries that accept crypto and it will have no impact on the future of crypto. All countries have their own policies for banning or accepting crypto. I feel lucky because my country is a country that can accept crypto so I feel more free and secure in following the crypto world, and I will use it well so that the results that can be obtained are also good.

[Coroline]

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Will the ban have a negative impact on the future of crypto? there are already several countries that prohibit the use of cryptocurrencies.

So far there are many countries where cryptocurrency has not been legalized for even one day. Yet has cryptocurrency stopped? We got the 2017, 2021 bullrun.  Cryptocurrency is moving forward every day and will soon become an integral part of the world's financial system.

I'm getting bored, why the hell same thing happens every time when market start growing. I'm expecting good days for cryptocurrency market are waiting. No matter what, crypto market moving forward and replace back dated decisions made by different government.

When you pay attention to these monstrosities, you can think about global manipulation or say, every time crypto grows there is no stopping, governments demand that it narrow down these powerful lights before it becomes the source of social madness and damages some economies but these can only be said to be temporary freezing processes, when the temperature of crypto increases, the rules of cooling will be broken. Mexico is also not the kingdom of crypto, their ban cannot blow up the crypto market

A ban by a country is natural and I agree with you even though mexico bans it doesn't really affect the price because there is no boom there. in contrast to China, where the majority of bitcoin miners are there and it threatens the crypto world.

[ARTURVH]

The Panama government  behavior will not affect Bitcoin much. After all, Panama is a small country. This is just a government action. At present, the mainstream cryptocurrency market is in the United States, and many institutions and wealthy people have invested in cryptocurrency. I believe the market will get better and better in the future.

[nomenclatur]

it's commonplace fud drama the Chinese government keeps trying to do that already happened last year which made the market enter the bears market the longest it made the price of bitcoin fall for a very long time making almost everyone frustrated it's very severe it's very likely that other countries will also follow because china is very influential on the price bitcoin and the market is in a bad state so that everything is going down it could be that other countries are also doing the ban for bitcoin in a large and influential country in the near future.

[Sithara007]

the more FUD circulating in my opinion this becomes a test for bitcoin and other cryptocurrencies, look at the incident when last 2018, many coin prices collapsed, of course that happened because of the large number of FUDs circulating like this and a few months later the price soared again so in my opinion Moments like this should be used wisely.

The prices collapsed in 2018 not because of the FUD, but because of the scams in ICO sector. There is no point in not taking the responsibility for what happened in 2018. The signs were pretty obvious back then, as some of the shitcoins like TRX had accumulated market caps of tens of billions of USD. Actually, I can see the same happening now with Dogecoin managing to cross the $50 billion market cap (something that alts like TRX failed to achieve in 2018). When the market crashes, almost always it is the alts that are responsible. 

[Dump3er]

the more FUD circulating in my opinion this becomes a test for bitcoin and other cryptocurrencies, look at the incident when last 2018, many coin prices collapsed, of course that happened because of the large number of FUDs circulating like this and a few months later the price soared again so in my opinion Moments like this should be used wisely.

The prices collapsed in 2018 not because of the FUD, but because of the scams in ICO sector. There is no point in not taking the responsibility for what happened in 2018. The signs were pretty obvious back then, as some of the shitcoins like TRX had accumulated market caps of tens of billions of USD. Actually, I can see the same happening now with Dogecoin managing to cross the $50 billion market cap (something that alts like TRX failed to achieve in 2018). When the market crashes, almost always it is the alts that are responsible. 

That is not entirely correct. Bitcoin as far as I can recall (too lazy to look it up) dropped from around $20k to around $3k. The shit coins just got wiped out entirely in terms of market cap, which is a good thing to happen.

I agree with you though that the FUD had nothing to do with it. We see that today as well that bad news (or whatever you want to call them) don't really do that much to Bitcoin. Bitcoin has become quite resilient for a while now against all types of information trying to attack it.

What I also fully agree with is that a couple of things exactly feel like 2018 with one being that as you said a coin like Dogecoin can go beyond $50 billion. We will find out where this ends I guess.

[rodskee]

After the Chinese government banned the use of cryptocurrencies a few weeks ago, the Mexican government is now banning the use of cryptocurrencies in the financial system.
https://www.coindesk.com/mexicos-treasury-secretary-confirms-cryptos-are-banned-from-financial-system

Will the ban have a negative impact on the future of crypto? there are already several countries that prohibit the use of cryptocurrencies.

Mexico does not count in terms of market moving than what China can , Every Negative news that china will create will surely shake the market but what about this mexico banning the use of cryptocurrency ? if its not from you we will never heard about this lol.
this means only one thing , That Mexico will never take effect no matter what they stand for crypto not like big countries like US or China that will surely make difference.

[Luffygroove]

there are so many countries in this world and I think it won't affect the crypto world so much. I mean, of course, it can affect the price movement at that time but rest assured cryptocurrency will be strong enough to mend all of that. Let's take the China case, for example, within these years, China already done some banning to the crypto world, every time they did that the price was affected, but not permanent. Finally, in 2021 they banned crypto wholly. Thou' we haven't seen any significant recovery now, but I believe it'll recover eventually. Why? because crypto is decentralized. There is no single country in this world that can't stop a p2p. There's always a way when there's a will. So, chill and use your seatbelt. It's gonna be rough but we can through it.

[no-ice-please]

The Panama government  behavior will not affect Bitcoin much. After all, Panama is a small country. This is just a government action. At present, the mainstream cryptocurrency market is in the United States, and many institutions and wealthy people have invested in cryptocurrency. I believe the market will get better and better in the future.

Panama? What are you even talking about man? This thread is about Mexico!

By the way: https://www.coindesk.com/panama-to-present-crypto-related-bill-in-july

In that article you can read how Panama also is seeking to establish Bitcoin as legal tender.

[Tervelatuk]

Currently the crypto world is hitting negative news so that the value of bitcoin and altcoin continues to decline, after China banned the mining of the crypto world and now Mexico is also doing so then this continues to adversely affect the value of bitcoin, although Mexico is not a developed country but it also affects other countries that will follow Mexico, but rest assured the crypto world has stood firmly and developments will continue.

Mexico has no power like CHina . When mexico fud release its have no impact at all, at this moment cryptocurrency market centralized in China. every negative news from this countries will directly shake the market, but the good thing was  miners start distributed to several countries and not centralized again in CHina. So it will bring the balance to crypto market, for long term it be good fundamental.

[slaman29]

the more FUD circulating in my opinion this becomes a test for bitcoin and other cryptocurrencies, look at the incident when last 2018, many coin prices collapsed, of course that happened because of the large number of FUDs circulating like this and a few months later the price soared again so in my opinion Moments like this should be used wisely.

Bitcoin has always proven itself in the most dire of moments. Let us remember about Mt Gox and then about the civil war supposedly going to destroy Bitcoin in 2017.

What happened next in both those times is not merely Bitcoin surviving, but pushing up stronger to new heights and not looking back.

This is what's so scary about Bitcoin, it LOVES FUD.

[tyz]

I'm getting bored, why the hell same thing happens every time when market start growing. I'm expecting good days for cryptocurrency market are waiting. No matter what, crypto market moving forward and replace back dated decisions made by different government.

It's usually the case that when crypto is the talk of the town, regulators and governments start cracking down on crypto. You rarely read such actions in bear markets, but always in bull markets. It's a striking pattern if you look at the last five to six years.