Bitcoin for Afghanistan and Taiwan

[mrongoz_imut]

Based on our Afghan cryptocurrency regulatory review, crypto-related activity in the country has a security rating of 1.9/10. The main ranking factor for Afghanistan is User Voting. There are 5 ICOs and 0 Exchange offices located in the country and 38 ICOs have restricted Afghan residents from taking part in their crowdfunding campaigns. Currently the state of Bitcoin in the region is controversial. You can use regulatory review this Afghan crypto to check if it is safe to invest in ICO or exchange crypto assets in the country and what legitimacy status Bitcoin has here. Today the analysis tool has rated Afghanistan at 183 number 249 out of countries by security rating.

[buwaytress]

The Hong Kong protests already saw quite impressive use case demonstrations for Bitcoin. Even if you're not looking or able to flee -- and many Afghans are also choosing to stay and resist -- Bitcoin can help overcome oppressive police states, as the protestors in HK showed when they had to use Bitcoin to buy travel tickets and send assistance to circumvent China's monitoring of bank accounts to put location and linkage tracing on HK residents.

It's a great store (and transport) of value, yes. But it's also a really useful anti-censorship transmission of money.

[pawanjain]

Given the events in Afghanistan over the last week, it is a great example of where bitcoin could have been of great use to the people of the country.  The currency, the Afghani, fell to record lows.  Anyone who owned bitcoin was protected and could escape the country with their assets, not worrying about capital controls or confiscation at the border.

Given that China sees how weak the current US administration is, Taiwanese should beware and should have escape plans in place:  assets offshore in the US, EU, Switzerland etc and some large percentage in bitcoin.  The people of Hong Kong had an opportunity to do so, and probably still have a slight window, but right now Taiwan is in a place where the people should be concerned about the communists at their door.

I was thinking of the same thing. Just as I started reading about the things going on in Afghanistan a thought came into my mind.

What if the Taiwan people who know control the government of Afghanistan declare their tradition fiat currency as illegal.
Everybody who holds that currency will basically have zero money. I explained this thing to my brother and said him that this why it is absolutely necessary to hold some possession in bitcoin.
He understood my point.

The thought of your life savings turning into zero overnight is very thrilling and this is why it is necessary that a globally accepted currency not controlled by the government should exist.
Bitcoin is the way ahead for many such problems.

[UmerIdrees]

Given the events in Afghanistan over the last week, it is a great example of where bitcoin could have been of great use to the people of the country.  The currency, the Afghani, fell to record lows.  Anyone who owned bitcoin was protected and could escape the country with their assets, not worrying about capital controls or confiscation at the border.

You have the bitcoins with you, so you can survive in these tough times at Afghanistan but what's the grantee that you will live ?  The currency comes in handy when you are able to survive but currently the situation of the country is not good and anyone could get a shot gun anytime 

Anyways bitcoin is  always a safe place to keep your money without concerning much about geographical boundaries.

[bosede1]

It would have been a great advantage to holders of Bitcoin before all this started and I hope the holder of the Bitcoin over there have really safeguard their securities and Password related to Cryptocurrency.

[aoluain]

The Hong Kong protests already saw quite impressive use case demonstrations for Bitcoin. Even if you're not looking or able to flee -- and many Afghans are also choosing to stay and resist -- Bitcoin can help overcome oppressive police states, as the protestors in HK showed when they had to use Bitcoin to buy travel tickets and send assistance to circumvent China's monitoring of bank accounts to put location and linkage tracing on HK residents.

It's a great store (and transport) of value, yes. But it's also a really useful anti-censorship transmission of money.

And the recent Afghanistan scenario where thousands of people are queuing to take
their money out of the banks is another typical example of ownership of wealth and
the consequences of not having full control of what you own.



Bitcoin as posted above is a perfect store, transport and anti-censorship of wealth,
when the Taliban take full control of the country restrictions and limits will be in
place  until there is a change, Bitcoin is the wealth safehaven.

[cr1776]

Given the events in Afghanistan over the last week, it is a great example of where bitcoin could have been of great use to the people of the country.  The currency, the Afghani, fell to record lows.  Anyone who owned bitcoin was protected and could escape the country with their assets, not worrying about capital controls or confiscation at the border.

Not a good idea though. If people see the Taliban use it (and let's face it, that's inevitable if the common people start using it) it will give bitcoin a bad name that we can't really recover from as long as it's used there.

People anywhere facing an existential threat who can preserve their assets with something like bitcoin would do well to do so whether or not that encourages scum to use it.  Let's face it, people protect their assets with USD, Euros, gold, silver etc, just because there are bad people using them too doesn't matter.

[cr1776]

Given the events in Afghanistan over the last week, it is a great example of where bitcoin could have been of great use to the people of the country.  The currency, the Afghani, fell to record lows.  Anyone who owned bitcoin was protected and could escape the country with their assets, not worrying about capital controls or confiscation at the border.

Given that China sees how weak the current US administration is, Taiwanese should beware and should have escape plans in place:  assets offshore in the US, EU, Switzerland etc and some large percentage in bitcoin.  The people of Hong Kong had an opportunity to do so, and probably still have a slight window, but right now Taiwan is in a place where the people should be concerned about the communists at their door.

These are the exact reasons why fascist and regressive countries have either banned bitcoin or in the process of doing it. Because governments do not like people to have control over their own assets, rather they want to control everything they can.

Bitcoin is indeed a great tool to avoid such intervention from the government dogs. We have seen that in the past when protest against China erupted in Hongkong. I am sure many people are using bitcoin solely for this purpose. But governments are furious. Recently Federal Reserve president said few lines on bitcoin.

Read here: https://www.marketwatch.com/story/crypto-is-95-fraud-hype-noise-and-confusion-says-feds-neel-kashkari-11629236416

Exactly.  The degree to which a country bans bitcoin (or crypto) is the degree to which they are or intend to be authoritarian in nature.

[Fortify]

Given the events in Afghanistan over the last week, it is a great example of where bitcoin could have been of great use to the people of the country.  The currency, the Afghani, fell to record lows.  Anyone who owned bitcoin was protected and could escape the country with their assets, not worrying about capital controls or confiscation at the border.

Given that China sees how weak the current US administration is, Taiwanese should beware and should have escape plans in place:  assets offshore in the US, EU, Switzerland etc and some large percentage in bitcoin.  The people of Hong Kong had an opportunity to do so, and probably still have a slight window, but right now Taiwan is in a place where the people should be concerned about the communists at their door.

Bitcoin would be a great asset for savings if only it was a lot more stable - but that is something that nobody can control. Maybe a better idea is having a basket of the top 5 most popular currencies to sort of hedge your bets, even though they often move in tandem. Weight the majority of your holdings (say 40%) into Bitcoin as the first mover will always have a strong advantage over others, and taper it down in a similar way to the remaining cryptocurrencies. The trouble with your idea is, that it is hard to be safe all of the time - you might store a hardware wallet (which might be difficult to smuggle out depending on circumstances) or you might have your funds in an exchange - which are relentlessly targeted by hackers.

[blockman]

Bitcoin is not yet fully payment system like fiat.

It is.

Bitcoin is high volatile and common people of Afghanistan would not like it. Well devolped countries should choose bitcoin for payments purpose than off course some small countries will also adopt it.

That's the matter for what they see in bitcoin. Bitcoin's purposely being used as both, investment and payment. But mostly today, we're all holding it and treats it as an investment and that's what's being said on the original post because it cannot be confiscated by any government unless you're the one surrendering and voluntarily giving it. And for the developed countries, they're not obliged to do it, but as long as there's no law about it, people living in those countries are free to own, use it for payments and as a store of value.

[cr1776]

Just to be clear to those advocating for some type of authoritarian system:  I’m not going to accept some fake freedom where I am “free” to work as I want while you are free to dispose of my life as you want. Someplace where everyone is both a slave master and a slave.

If you think that is a good idea, I suggest that you go and live somewhere that is practicing that for a few years.  See what it is like to live under the whip hand.  If you survive, come and report back to us afterward, but don't pretend that it is for our own good that you want to impose your whims on people who want to be free.  It is for your own selfish desire to control everyone else.

 

[leea-1334]

Don't hope you can run and escape global economic collapse that is slowly spreading around the world, so US or EU and not really safe havens and could soon turn more into newage concentration camps like in Canada or Australia.
I would say that safest countries are located in Latin and South America, but only outside big cities, and I think that having some Bitcoin and other hard assets is essential for surviving upcoming years.

Really those are the safest? But I have been reading in the last few years, even if you see on social media, many people in South America are sharing how worthless their currencies are and how many are protesting against the police but police brutality is so common there. On one side are drug cartels and crime gangs that force everyone to live under them. On the other side is police who are corrupt and brutal.

I have seen the protests shared on social media and people saying pray for them. Colombia Venezuela Argentina Peru I only say a few of what I remember,,,

[Lucius]

Given the events in Afghanistan over the last week, it is a great example of where bitcoin could have been of great use to the people of the country.  The currency, the Afghani, fell to record lows.  Anyone who owned bitcoin was protected and could escape the country with their assets, not worrying about capital controls or confiscation at the border.

I haven't really read any news that would indicate that the average Afghan could even get acquainted with the advantages of cryptocurrencies, and far from being able to own them at all with the low standard of life. The keyword here is that something could have been helpful if people had known it at all, that is, if they had the infrastructure that would allow them to create the conditions for the adaptation of new technologies. What they have unfortunately had for the past 20 years is a false promise that brought them back to square one.


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[TheNineClub]

Given the events in Afghanistan over the last week, it is a great example of where bitcoin could have been of great use to the people of the country.  The currency, the Afghani, fell to record lows.  Anyone who owned bitcoin was protected and could escape the country with their assets, not worrying about capital controls or confiscation at the border.

Not a good idea though. If people see the Taliban use it (and let's face it, that's inevitable if the common people start using it) it will give bitcoin a bad name that we can't really recover from as long as it's used there.

This exactly. And to be fair, there is only a small percentage of Afghani people that would use BTC, most are at least 2-3 centuries mentally behind that. And this is no disrespect, the fact is that a big part of that country is just behind a bunch of years due to being in constant turmoil. I don't see how crypto would make any good sense there.

[AicecreaME]

Given the events in Afghanistan over the last week, it is a great example of where bitcoin could have been of great use to the people of the country.  The currency, the Afghani, fell to record lows.  Anyone who owned bitcoin was protected and could escape the country with their assets, not worrying about capital controls or confiscation at the border.

Given that China sees how weak the current US administration is, Taiwanese should beware and should have escape plans in place:  assets offshore in the US, EU, Switzerland etc and some large percentage in bitcoin.  The people of Hong Kong had an opportunity to do so, and probably still have a slight window, but right now Taiwan is in a place where the people should be concerned about the communists at their door.

I don't think bitcoin would be fit for Afghanistan especially given their current state. Bitcoin is volatile. It requires knowledge about how it works for someone to fully utilize it. In addition, the processing time is longer and transaction fees are higher compared to the usual digital banking. Although I get that bitcoin is really useful if you will really think about it because of its decentralized nature, meaning even Taliban group won't be able to regulate it as much as they would want to; but we must also take into consideration that Afghanistan is a country that is far from being developed. Their citizens would definitely have a hard time most especially if they will just be introduced to bitcoin by now.

I don't think most of their people have resources as well as of now that their country is in chaos. In addition, the establishments that are accepting bitcoin are still limited particularly to the developed countries, hence, using bitcoin would be futile because the adoption in their country doesn't happen yet.

[Fundamentals Of]

I agree that Bitcoin should have played a very important role in Afghanistan. Banks are now overflowing with people. Managers, administration staff, employees, and so on are now leaving their jobs from bank branches. Banks are now stopping the release of withdrawals and have failed to deliver a lot of services because of what happened there. The currency itself is unstable even before the Taliban took over because the threat had always been there.

As in the case of Taiwan, it is better to be safe while it is still early. Bitcoin is a safe way to keep one's worth.

[ChiBitCTy]

This is an awesome topic as it's something that a group of friends and I were discussing in a Discord chat recently.  We were all trying to figure out if there was a way for us to be able to help out the Afghani people, and we came to the conclusion that trying to mail anything in would surely be stolen, and if anyone tried to bring any aid in that they would surely be shot and killed.  Bitcoin is the one true way to help aid these people where the Taliban has no control over it. 

[buwaytress]

It's a great store (and transport) of value, yes. But it's also a really useful anti-censorship transmission of money.

Bitcoin as posted above is a perfect store, transport and anti-censorship of wealth,
when the Taliban take full control of the country restrictions and limits will be in
place  until there is a change, Bitcoin is the wealth safehaven.

Afghanistan's right at the heart of all empires from East, West, Central. And even in the past few decades it's seen upheavals, so yeah, it's going to be hard for anyone anywhere there to rely on fiat, whether it's the local currency or a foreign one like USD that's of course going to be sanctioned against there.

Bitcoin does work, but perhaps not everyone there is able to take advantage. Those who can are already fleeing.

[kryptqnick]

Given the events in Afghanistan over the last week, it is a great example of where bitcoin could have been of great use to the people of the country.  The currency, the Afghani, fell to record lows.  Anyone who owned bitcoin was protected and could escape the country with their assets, not worrying about capital controls or confiscation at the border.

If you're talking about the people of the country who are now left without the international aid which was 80% of the country's GDP and are facing an uncertain future, you might be right that Bitcoin is a good choice for them to keep the people they possess because the banking system isn't well-developed and is currency restricted there, and it's hard to get a hold of an ATM. That being said, I don't think there are options to spend Bitcoin in Afghanistan, so it's only a temporary solution for those who want to keep some wealth they already have, not for day-to-day life. It's only not an option in daily life because many Afghans don't have internet access on their smartphones.

[southerngentuk]

It will be like BTC going crazy in IRAN given the military tension between US and IRAN. Their own panic scenario that makes everything valuable or meaningless is only seen as an opportunity to find a chance to survive. It's really bad for the people living in the territory of these countries, pray for them to have peace.