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Author Topic: How can I survive in a place where BTC is restricted?  (Read 839 times)
Majestic-milf (OP)
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June 12, 2022, 12:51:24 PM
 #1

While there are countries who have embraced or tolerated BTC since it's emergence in 2008, there seem to be some who are adamant about it because of its high volatility rate and the ability to conduct nefarious activities with it.
 In September 2021, El Salvador became the first country to not just embrace it, but also to use it as a legal tender and where were followed by Central African Republic in April 2022. It would seem that these countries have seen the light(BTC), in this case and have held firmly.
 Despite it's controversial emergence, it has managed to gain a kind of positive publicity. Countries who are strongly against it and have moved for it's ban in their nations are;

Algeria
They passed into law in 2014 and making illegal the use, buying and selling or holding of crypto currency
Bolivia
 Bolivia Central Bank passed the law of the total ban of the use of crypto currency in 2014
China
 On Sept 24, the Bureau of the People's Financial Consumer Rights Bank of China outrightly banned the use of BTC. https://en.m.wikipedia.org/wiki/Legality_of_cryptocurrency_by_country_or_territory
 There are many more countries who have taken this step. My question now is, how do citizens who have BTC and reside in areas that are not crypto friendly cope?

 

R


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June 12, 2022, 12:55:51 PM
 #2

Don't:
Don't use centralized exchange
Don't link your address with any services e.g. gambling, lending, investment platform etc

Do:
Use decentralized exchange e.g. bisq
Buy a gift card using Bitcoin without link your identity
Use Tor to hide your IP address for searching any Bitcoin stuffs
Use a mixer e.g. Chipmixer to concealing your tainted coin for better privacy

Even your countries isn't ban Bitcoin, but you should be worry since government can do anything to ban or unban if they want. So you need to be prepare when the worst happen on your country about Bitcoin legality especially you live in the country where Bitcoin legality is still grey area.

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June 12, 2022, 12:59:51 PM
 #3

It's quite discrete though imo for people in those countries.

If it does well they could probably either just move country to sell their crypto or find someone who could trade it for them - in countries where drugs have been made illegal, they don't seem too hard to come by (enough people seem to have them/take them).

Use Tor to hide your IP address for searching any Bitcoin stuffs


I wonder how easy tor is to access and use in China without detection.. I know there's a bridge that was made so people from China could connect to tor but I'm not sure how noticeable it is (and presumably you'd have to get tor from an unofficial source).
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June 12, 2022, 01:01:51 PM
 #4

It's actually 2018 for Algeria, and September of 2021 for China.

As mentioned above, using decentralized and P2P exchanges will do the trick. I however don't think that it matters for most of the banned countries.  If you check the biggest exchanges out there, you'll see that Algeria, Bolivia, and a few others are still supported so I'm guessing that it just depends on the jurisdiction or how much push there's from the regulators. I still wouldn't encourage using CEXes though, especially if identity verification is required.

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June 12, 2022, 01:19:18 PM
 #5

While western sites are mainly banned in China, nothing is stopping from residents from utilizing VPNs to access them. Bitcoin is no different.

Besides, China has more things to prioritize (e.g. political stability) about than simply Bitcoin alone.

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June 12, 2022, 01:38:37 PM
Last edit: June 12, 2022, 02:01:18 PM by okorieemmanuel
 #6

While there are countries who have embraced or tolerated BTC since it's emergence in 2008, there seem to be some who are adamant about it because of its high volatility rate and the ability to conduct nefarious activities with it.
 In September 2021, El Salvador became the first country to not just embrace it, but also to use it as a legal tender and where were followed by Central African Republic in April 2022. It would seem that these countries have seen the light(BTC), in this case and have held firmly.
 Despite it's controversial emergence, it has managed to gain a kind of positive publicity. Countries who are strongly against it and have moved for it's ban in their nations are;

Algeria
They passed into law in 2014 and making illegal the use, buying and selling or holding of crypto currency
Bolivia
 Bolivia Central Bank passed the law of the total ban of the use of crypto currency in 2014
China
 On Sept 24, the Bureau of the People's Financial Consumer Rights Bank of China outrightly banned the use of BTC. https://en.m.wikipedia.org/wiki/Legality_of_cryptocurrency_by_country_or_territory
 There are many more countries who have taken this step. My question now is, how do citizens who have BTC and reside in areas that are not crypto friendly cope?

 


Wow! Are you actually looking for tips to break the law of countries banning Bitcoin? That's a bid odd. If you have bitcoin and you stay in an area where it is banned, you can simply take a plane or trip to a place where bitcoin is not banned and use your bitcoin. At least, you will be on the right side of the law. If you stay in area where bitcoin is banned and you take all these people advices and eventually get caught, the expenses you will incure will be greater than a simple travel. Even binance exchange was founded in China. When china issued such ban on crypto, they simply moved their headquarters to cayman islands. Such individuals can do the same. Don't break the law

https://en.m.wikipedia.org/wiki/Binance
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June 12, 2022, 01:49:31 PM
 #7

How can I survive in a place where BTC is restricted?

Just as how 6 billion poeple managed to survive before 2009.
This whole drama, I can't use bitcoin, I'm going to die is just lame, according to a study I just read on a  topic yesterday bitcoin-related sources quoted a number of 30 million users, how the hell does the rest of the world go by? /s

As mentioned above, using decentralized and P2P exchanges will do the trick. I however don't think that it matters for most of the banned countries.

Might do the trick!
Decentralized exchanges don't have your data, but that doesn't mean the one sending or receiving money from you for the coins exchanged won't.
And depending on the seriousness of the country that wants to ban this kind of transaction you might end up dealing with an undercover cop or the guy with whom you tarded might get nabbed by the police and from there all they have to do is go through all his bank/paxum/paypal whatever transactions.

I've always warned people that a trader is so easy to be discovered by a bank, just how many people that you know do 10 bank transfers to complete strangers all over the country each day?  Grin All t takes is one to go down and every one after that is so easy to catch. It all comes to how hard the police want to catch you, not how good you're hiding your tracks.

If you have small amounts try to buy stuff from the outside or deal with close friends that might help you, if you have large sums, it's time to move away as you won't be able to cover the real-life wealth once you sell 10 BTC, how are you going to explain 300k in your accounts when your wage is 300 or worse than that you're unemployed  Grin

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June 12, 2022, 02:01:28 PM
 #8

You can survive of living in a country that do not accept Bitcoin or embraced it as a legal tender or for exchanges of goods and services. They are not going to deprived of internet access to operate via cryptocurrencies or set an organization who will be moving house hold to house hold search for people who dealing with cryptocurrency, the answer is No. So therefore we have peer to peer platforms which any country or continent can operate with via peers to peer transaction. For me even though my country restrict the adoption of bitcoin it won't affect me, because i exchange my cryptocurrency to their fiat currency and use in purchase of anything

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June 12, 2022, 02:11:51 PM
 #9

You can still use it — mostly just not as a currency, but for holding. You just need to hold extra quietly, and make sure you don't over-allocate so you wouldn't be forced to sell some if you needed the money.

As for buying, I'd try to figure out a method. One way on the top of my head (outside of doing P2P) is to use your local currency to buy game items(CSGO, RuneScape, etc), then sell the game items for bitcoin.

^ You're going to pay an extra premium for that buying method, but if you're extra paranoid then it's a decent method imo.

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June 12, 2022, 02:46:41 PM
 #10

I wonder how easy tor is to access and use in China without detection.. I know there's a bridge that was made so people from China could connect to tor but I'm not sure how noticeable it is (and presumably you'd have to get tor from an unofficial source).
It is pretty hard to stay undercover in China simply due to human errors.  Out of say 100 days of browsing, I would imagine there is a big chance you mess up at least once.  I do this myself, even as paranoid and extremely cautious as I am.  If you are very tired or drunk, or even just not having the ability to pay attention for a second, you might click the wrong thing and that could turn out very badly for you.

I remember there were some communities selling CD's and USB sticks with Tails on them that you could buy in countries where Tor is banned so that you can bypass governmental restrictions.  But again, there is a big risk you have to assume by using it.  I would rather occasionally travel to other countries and do my Bitcoin business there and return to my country when I am done.  They can find you are using Tor, but they can not find your seed as long as you properly store it.

Long story short.  If you can not survive in a country due to a Bitcoin ban, maybe it is time to move to another country instead.  Or travel every now and then specifically to do your Bitcoin business somewhere else where Bitcoin is not banned, or if you have the balls then risk it and try to stay undercover in a country that may end up torturing you and destroying your life for it.

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Regards,
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June 12, 2022, 04:23:23 PM
 #11

There are many more countries who have taken this step. My question now is, how do citizens who have BTC and reside in areas that are not crypto friendly cope?
No choice. But if they arent so tight to use on crypto. Then use decentralized exchange or p2p to trade crypto. Thats the only way you cant be bound to such rules and strict regulations. Obviously they are seeking cooperation on exchanges that operates within their territory. But if you arent gonna use that, then you can still survive using dex. However the chances of small numbers of people are using it or even doing p2p is the cons of it.

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June 12, 2022, 09:11:49 PM
 #12

Peer to peer(P2P) transactions is one of the ways to go if you are in a country where its illegal to own or use bitcoin.
My country is a good reference point of what I am talking about, the government of my country ones made it illegal to own or transact in bitcoin, all banks were instructed to report any bitcoin or crypto currency related transactions, in the end, we all resorted to peer to peer,, all we do is to make sure we don't include anything that has to do with bitcoin or crypto in our payment description/reference note when transferring or sending money to the other party.

The above is one of the ways to survive in a country where bitcoin and cryptocurrencies are restricted.

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June 12, 2022, 09:24:54 PM
 #13

Each country does have their own takings and perceptions into different things specially we do talk about Bitcoin or crypto as a whole which there would be places who
would fully accepted it and there are who would completely ban it thats why it would be not that good to experience or deal with crypto if its banned.
So lucky for those who had lived on a country which does have good impressions and taking about bitcoin or crypto as a whole.
You could really be that confident on dealing with something which isnt banned or prohibited.

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June 12, 2022, 09:55:07 PM
 #14

Each country does have their own takings and perceptions into different things specially we do talk about Bitcoin or crypto as a whole which there would be places who
would fully accepted it and there are who would completely ban it thats why it would be not that good to experience or deal with crypto if its banned.
So lucky for those who had lived on a country which does have good impressions and taking about bitcoin or crypto as a whole.
You could really be that confident on dealing with something which isnt banned or prohibited.

the OP has not mentioned what country he is coming from. so we don't know what kind of restrictions they have in terms of crypto market. is it total ban or just crypto businesses such as local exchange is not permitted to operate? are they allowing their people to hold crypto and use at their own risk? it depends on the level of restriction here. because if he can use the p2p method, there are several reputable sites to convert his crypto to fiat.

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June 12, 2022, 09:59:00 PM
 #15

Have a decentralized wallet or hard wallet, and if you have good amount of Bitcoin you can travel abroad and use your Bitcoin there. Living on those restricted countries is really hard and you can’t do anything about that aside from following their laws or else you will face consequences. Just keep it to yourself and safely secured your wallet, time will come and they make that legal in the future, they can’t just ignore Bitcoin.
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June 12, 2022, 10:09:49 PM
 #16

I guess you need to move on and find another way to spend your Bitcoin (if you have) like converting them to fiat money. Otherwise, you will never enjoy them as possible it will be seized by the authorities if they know about you.

Well, some had made their decision to transfer their residency to other places where Bitcoin is legal but I'm not suggesting it. That is why I'm saying, you have to forget about crypto, about Bitcoin. We can still make a living without Bitcoin so we can still survive despite everything.

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June 12, 2022, 10:57:14 PM
 #17

It's an interesting question, because in few years more of us can be in a situation like this in our countries where there aren't specific laws for bitcoin and crypto yet. There isn't much to do: or you use it illegally taking the risks of being harassed, blackmailed, fined and persecuted by authorities, give up on crypto and throws on the garbage your financial life becoming a slave of the local system forever or you move on to a friendly crypto country.

The latter option is the best, but I imagine it's hard to go to an entirely new country where you don't know anyone, without any guarantees, opportunities or a sure place to start your new life.

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June 12, 2022, 11:59:15 PM
 #18

It's either you follow the law of your government and know that your safe and out of possible criminal activity or you don't. You might still be able to hold and use btc or other crypto however it will be harder for you to do a transaction. Also, there's a chance that you might get caught in the process if you are not careful enough.
Again, you will still be able to use and hold cryptocurrency. Your main problem is doing transaction with it especially selling it for fiat or even doing P2P. Another issue are website that also restrict access on these countries as your funds may not be available once they've detected your from an illegal country.

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June 13, 2022, 01:02:19 AM
 #19

To survive with your BTC in restricted countries it means you should avoid services that will link your address. The most tempting is funding centralized services directly from your decentralized wallet. The easiest way to track address has been through centralized exchanges since the have the KYC of their customers so staying as decentralized as possible or avoiding any direct link to centralized services with your wallet will be just fine

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June 13, 2022, 02:36:11 AM
 #20

Wow! Are you actually looking for tips to break the law of countries banning Bitcoin? That's a bid odd. If you have bitcoin and you stay in an area where it is banned, you can simply take a plane or trip to a place where bitcoin is not banned and use your bitcoin. At least, you will be on the right side of the law. If you stay in area where bitcoin is banned and you take all these people advices and eventually get caught, the expenses you will incure will be greater than a simple travel. Even binance exchange was founded in China. When china issued such ban on crypto, they simply moved their headquarters to cayman islands. Such individuals can do the same. Don't break the law

https://en.m.wikipedia.org/wiki/Binance
A good option is to simply hold your coins, we know that one day bitcoin could be legal and the next day it could not depending on the mood of a small number of politicians, it is because of this it is important to always retain your privacy, however even if at some point bitcoin becomes illegal where you live you can just keep holding it, if you never revealed to anyone you have it then no one will be looking for you, and once bitcoin becomes legal where you live then you can begin to use it again.

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June 13, 2022, 05:31:39 AM
 #21

There are many more countries who have taken this step. My question now is, how do citizens who have BTC and reside in areas that are not crypto friendly cope?
If that's the case, it's best to keep your bitcoins and not try to sell them, as that will cause you problems. While you keep your bitcoins, you should keep trying to make money in other ways so that you can still earn while waiting for the time to sell your bitcoins legally. At least that's what you can do now, and don't tell anyone that you own bitcoins. I am sure you don't want to get any problems because of owning bitcoin, so that will be how you can do it.
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June 13, 2022, 05:54:57 AM
 #22

Don't worry, currently there are so many countries that are Bitcoin restricting, including my Banned Bitcoin country, but that doesn't make me stop for Invest Cryptocurrencies, in my country Banned Many sites related to Cryptocurrencies such as Binance, Huobi, HitBTC, Crypto.com And so on, but I can still access the application on a smartphone and of course free to receive USD in the account, I usually receive about 4-7 days after I withdraw.


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June 13, 2022, 07:23:34 AM
 #23

if you live from china, you can use a VPN to get around this ... because most Chinese people use VPN for their transactions ... but it will be a little difficult if you want to convert BTC to YUAN or vice versa

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June 13, 2022, 08:20:38 AM
 #24

There are many more countries who have taken this step. My question now is, how do citizens who have BTC and reside in areas that are not crypto friendly cope?
If that's the case, it's best to keep your bitcoins and not try to sell them, as that will cause you problems. While you keep your bitcoins, you should keep trying to make money in other ways so that you can still earn while waiting for the time to sell your bitcoins legally. At least that's what you can do now, and don't tell anyone that you own bitcoins. I am sure you don't want to get any problems because of owning bitcoin, so that will be how you can do it.
Most businesses rely on Bitcoin for transactions. They use Bitcoin to pay for goods and services and not for investment. Hence these business would do everything possible to bypass these restrictions imposed on Bitcoin by government. Bitcoin has so much benefits that have helped businesses to overcome many barriers encountered in international trade. Like in my country their is always scarcity of dollars and accessing it would take a whole lot of time. There are also limits to bank transaction and this has made businesses to suffer. Since Bitcoin is illegal in my country, most business rely on P2P and middlemen to bypass these restriction. But the best option would be to leave these Bitcoin unfriendly nations.     

R


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June 13, 2022, 09:46:06 AM
 #25

While there are countries who have embraced or tolerated BTC since it's emergence in 2008, there seem to be some who are adamant about it because of its high volatility rate and the ability to conduct nefarious activities with it.

Volatility and illicit activities bitcoin is being used for isn't enough reason for lack of adoption by those countries that does not support the use of it for their payment service, what bothers them most is their inability to have mastery over it, those countries only discourage the use of it and avoided thier financial institutions from using it but individuals use cannot be place on ban because bitcoin is decentralized and one can easily make use of p2p for making transactions, while other countries places ban in other to succeed with the launch of their CBDC, country like China can only exercise threat on centralized exchange, mining rigs and many other cryptocurrencies related industries and as for bitcoin, it is best done with full privacy by running a full node or using a decentralized exchange wallet and using p2p for subsequent transactions.



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June 13, 2022, 10:27:30 AM
 #26

No matter how serious or severe the law about Bitcoin in any country. Whether total ban or partial ban. If an individual use a non custodian wallet, use Tor or vpn to access internet such that their ip is hidden totally and maybe use cold wallet to save Bitcoin or restrict his device only within his house. How will the government be able to know that the fellow owns Bitcoin to come after him?

I am of the opinion that anyone who applies all that is needed can own Bitcoin silently and anonymously without the government of the country being aware of it.

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June 13, 2022, 12:27:51 PM
 #27

~snip~  If you can not survive in a country due to a Bitcoin ban, maybe it is time to move to another country instead.  Or travel every now and then specifically to do your Bitcoin business somewhere else where Bitcoin is not banned, or if you have the balls then risk it and try to stay undercover in a country that may end up torturing you and destroying your life for it.

-
Indeed, every country has different policies. But the friend above has shown several ways to keep transacting Bitcoin and other cryptos. In fact, I don't even read much about China at the moment. But I heard that many of them go to other areas to still be able to make crypto transactions.
Maybe you can replicate it, but if your costs will exceed your assets then think about it. I think people who dare to move because their assets and future mas depend on crypto. Perhaps using a VPN, MIxer, DNS is the cheapest alternative so you can transact in a country that prohibits you, although legal risks may await you if they are aware of your activities
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June 13, 2022, 12:53:27 PM
 #28

Peer to peer(P2P) transactions is one of the ways to go if you are in a country where its illegal to own or use bitcoin.
My country is a good reference point of what I am talking about, the government of my country ones made it illegal to own or transact in bitcoin, all banks were instructed to report any bitcoin or crypto currency related transactions, in the end, we all resorted to peer to peer,, all we do is to make sure we don't include anything that has to do with bitcoin or crypto in our payment description/reference note when transferring or sending money to the other party.

The above is one of the ways to survive in a country where bitcoin and cryptocurrencies are restricted.
YES -  that is the possible solution. Mostly people use this peer to peer transaction option.
In my country where paypal is also available - people used peer to peer transactions. So its good to find alternative solution as per local laws.

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June 13, 2022, 02:42:50 PM
 #29

I think most of them have already understood the loop holes. Bitcoin can be restricted but it’s on paper with legal restrictions and shit but I don’t think people can be restricted from accessing it over the “internet”.  This thread alone states bunch of option to access it Like VPN.

One can connect for a while, transfer the cryptos to hardware wallets and shook about it. It’s easy formula to follow. And then comes p2p option to trade with foreign people so that funds can be wired securely. Seems hassle free.
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June 13, 2022, 03:00:35 PM
 #30

Most of the countries that we see have already restricted bitcoins and other cryptocurrencies so some things that people do to survive is :
1. Trade through international bank accounts
2. Try and use VPN wherever possible
3. Not use your ID even if they ask and OPT for wallets not requiring them
4. Ensure you are able to file a PIL against the laws restricting you the usage of Bitcoins, PIL is basically Public interest ligation which would work if you have tons of supporters of Bitcoins as well.
5. Try and look for alternatives or move to some other country.

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June 13, 2022, 07:26:27 PM
 #31

I think most of them have already understood the loop holes. Bitcoin can be restricted but it’s on paper with legal restrictions and shit but I don’t think people can be restricted from accessing it over the “internet”.  This thread alone states bunch of option to access it Like VPN.

One can connect for a while, transfer the cryptos to hardware wallets and shook about it. It’s easy formula to follow. And then comes p2p option to trade with foreign people so that funds can be wired securely. Seems hassle free.
I agree, since it can't be really traced (could be, but would take a big workload and why would governments do that), there is really no way to completely ban it. This is why there are nations that tried to ban it first, but then made it legal. Why would you make something legal when you wanted it banned just a year ago? They realize that there will be a ton of dark market p2p crypto exchanging anyway, so might as well make some tax profit from it instead and make it legal.

This is why you could be from a nation that banned crypto or limited or restricted, but it is obvious that when your nation or where you are ends up seeing profits from taxing it could bring, they will not only legalize it, but support it.
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June 13, 2022, 10:51:07 PM
 #32

I think most of them have already understood the loop holes. Bitcoin can be restricted but it’s on paper with legal restrictions and shit but I don’t think people can be restricted from accessing it over the “internet”.  This thread alone states bunch of option to access it Like VPN.

One can connect for a while, transfer the cryptos to hardware wallets and shook about it. It’s easy formula to follow. And then comes p2p option to trade with foreign people so that funds can be wired securely. Seems hassle free.

What you say is true, I have a friend who lives in a country where the use of Bitcoin is illegal. But my friend can still have Bitcoin and can also make
Bitcoin transactions. Because the government can ban its citizens from using Bitcoin, but there is always a way to still be able to use Bitcoin.
Even if we type keywords in Google search engine, to find out how to use Bitcoin in a country that prohibits Bitcoin, many articles will appear
explaining it. Now information is very easy to get, so there is always a solution for every problem that occurs.

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June 14, 2022, 08:42:48 AM
 #33

There must be a lot of ways if you want to find a way, like the one mentioned above and one you think can do it too.
and my way is if government ban bitcoin or crypto, just transfer your crypto assets to International exchange and try to open bank account in any foreign bank.
and nowadays even tourists can open bank accounts easily in any country, and in this way, you can easily move assets in your pocket. The process is a little longer but if you want to gain something you have to lose something.

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June 14, 2022, 10:00:53 AM
 #34

While there are countries who have embraced or tolerated BTC since it's emergence in 2008, there seem to be some who are adamant about it because of its high volatility rate and the ability to conduct nefarious activities with it.
 In September 2021, El Salvador became the first country to not just embrace it, but also to use it as a legal tender and where were followed by Central African Republic in April 2022. It would seem that these countries have seen the light(BTC), in this case and have held firmly.
 Despite it's controversial emergence, it has managed to gain a kind of positive publicity. Countries who are strongly against it and have moved for it's ban in their nations are;

Algeria
They passed into law in 2014 and making illegal the use, buying and selling or holding of crypto currency
Bolivia
 Bolivia Central Bank passed the law of the total ban of the use of crypto currency in 2014
China
 On Sept 24, the Bureau of the People's Financial Consumer Rights Bank of China outrightly banned the use of BTC. https://en.m.wikipedia.org/wiki/Legality_of_cryptocurrency_by_country_or_territory
 There are many more countries who have taken this step. My question now is, how do citizens who have BTC and reside in areas that are not crypto friendly cope?
 

In China, the concept of the sovereign Internet (Golden Shield Project) operates.  

However, the Chinese get around the restrictions with VPNs.  

Bitcoin is too valuable an entity to pass up.  States do not have the right to prohibit the free circulation of the first cryptocurrency.  Bitcoin is a universal value.  

The ban on bitcoin in a given country can also be bypassed using appropriate software tools.  

If this is not possible, then you can go on a tourist trip to another country (where bitcoin is allowed) and make the necessary transactions there.

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June 14, 2022, 10:18:49 AM
 #35

Most businesses rely on Bitcoin for transactions. They use Bitcoin to pay for goods and services and not for investment. Hence these business would do everything possible to bypass these restrictions imposed on Bitcoin by government. Bitcoin has so much benefits that have helped businesses to overcome many barriers encountered in international trade. Like in my country their is always scarcity of dollars and accessing it would take a whole lot of time. There are also limits to bank transaction and this has made businesses to suffer. Since Bitcoin is illegal in my country, most business rely on P2P and middlemen to bypass these restriction. But the best option would be to leave these Bitcoin unfriendly nations.     
But if those countries don't allow bitcoin, they won't be able to use bitcoin and only use bitcoin as an investment and not as a payment alternative. Maybe it's not time for bitcoin to be used as an alternative means of payment other than fiat because there are still restrictions in certain countries that do not recognize it as a means of payment. But if they realize the benefits of bitcoin for their business, especially the government, maybe they will try to apply it to the payment system so that people can pay using bitcoin.
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June 14, 2022, 10:21:14 AM
 #36

yeah right bro.
The pros and cons that you mention in my opinion are only the interests of the top brass in that country.

come on..the nature of bitcoin should be full freedom and privacy.if someone is a citizen in a country and he has activities.saves,sells,buys bitcoin.then what does the country lose? if you can't provide welfare, let the people seek prosperity with the assets they have. Literally the state didn't give it (bitcoin) or cultivate the like at that time. (its initial appearance) is sometimes as funny as that.

if there are several people who access the vpn or dns it is a personal right and human rights in activity.
both hobbies and rights to anything including fun with assets and investments.
I quite feel for those who live with the outrageous regulatory limitations on bitcoin.

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June 14, 2022, 11:19:36 AM
 #37

The answer is different depending on where you live and what kind of restriction you are talking about but the most important thing about bitcoin restriction is that's not something the government can suspend is completely and the only this can mostly do is to suspend the fiat transaction related to bitcoin and other cryptocurrencies while even if they do that can still have many backup plans, for example, I know some people are using the cafe shops and do p2p changes with each other while the government will never know them cannot track what they do, also you can use the tor network and proper VPN so the government will not understand if you are visiting the bitcoin and cryptocurrency-related websites to track you and your transaction.

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June 14, 2022, 11:55:43 AM
 #38

I believe that people that have a btc on those countries have already existed before btc came therefore they can continue doing those things again that made them survive and grow even without the help of btc. The country of china have re-allowed btc before on their country. They are the same with India and others that can ban and unban btc/crypto so there might be a chance that they will do it again.

Btc users on this country should hope and pray for it but for now they should avoid any other activity that is deemed illegal like using a vpn to access restricted btc sites because that will be a big problem if ever they got caught.
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June 14, 2022, 09:26:01 PM
 #39

I believe that people that have a btc on those countries have already existed before btc came therefore they can continue doing those things again that made them survive and grow even without the help of btc. The country of china have re-allowed btc before on their country. They are the same with India and others that can ban and unban btc/crypto so there might be a chance that they will do it again.

Btc users on this country should hope and pray for it but for now they should avoid any other activity that is deemed illegal like using a vpn to access restricted btc sites because that will be a big problem if ever they got caught.
It's not going to be easy to do that though. Like for example I have been full-time crypto worker for the past 6 years or so, and that means I have been accustomed to living a certain way, mainly at home without going to work for example. If we suddenly start to consider all of those people needing to find another work, that would be hard.

I wouldn't be able to find any other work these days, I would stay at home and try to find a way to stay as a full time crypto worker forever, not going to be simple and would take months or even a year, but I am certain that I will get there eventually, a year of terrible works and being unemployed, but I will get there anyway, even if it's illegal, I would just find foreigners to pay me instead.

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June 15, 2022, 05:21:54 AM
 #40

Except for China, which is a giant country in the field of technologies so that it is difficult to circumvent the laws, especially if the intended use is not that large, the rest of the countries that have passed legislation banning the use of cryptocurrencies, their citizens or those coming to them can resort to the black market to secure their needs of encrypted currencies or Simply use peer-to-peer platforms including Binance which is active in almost all countries of the world with some exceptions.
Personally, I will resort to the forum to ask for help, especially since there must be reliable members here who belong to those countries.
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June 15, 2022, 08:16:45 AM
 #41

Most businesses rely on Bitcoin for transactions. They use Bitcoin to pay for goods and services and not for investment. Hence these business would do everything possible to bypass these restrictions imposed on Bitcoin by government. Bitcoin has so much benefits that have helped businesses to overcome many barriers encountered in international trade. Like in my country their is always scarcity of dollars and accessing it would take a whole lot of time. There are also limits to bank transaction and this has made businesses to suffer. Since Bitcoin is illegal in my country, most business rely on P2P and middlemen to bypass these restriction. But the best option would be to leave these Bitcoin unfriendly nations.     
But if those countries don't allow bitcoin, they won't be able to use bitcoin and only use bitcoin as an investment and not as a payment alternative. Maybe it's not time for bitcoin to be used as an alternative means of payment other than fiat because there are still restrictions in certain countries that do not recognize it as a means of payment. But if they realize the benefits of bitcoin for their business, especially the government, maybe they will try to apply it to the payment system so that people can pay using bitcoin.
Yes basically every country has its own policies and I'm sure it won't be easy for Bitcoin to be allowed as a means of payment worldwide,
it will always be interesting to talk about this because we know for ourselves that cryptocurrency technology is very advanced,
We'll see what the future will be like

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June 15, 2022, 10:39:35 AM
 #42

Maybe at this time many countries are banned bitcoin than officially legalized, but the Bitcoin community is developing rapidly and cannot be stopped, many big issues continue to be spread to make FUDS, but we are not worried about the future of Bitcoin despite more restricted and more banned rules.
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June 15, 2022, 10:59:21 AM
 #43

Yes basically every country has its own policies and I'm sure it won't be easy for Bitcoin to be allowed as a means of payment worldwide,
it will always be interesting to talk about this because we know for ourselves that cryptocurrency technology is very advanced,
We'll see what the future will be like
Hopefully, every government can see the use of bitcoin for their citizens, so they will allow the use of bitcoin and legalize it. Several countries have legalized the use of bitcoin and allowed their citizens to pay for transactions using bitcoin. But with the other benefits of bitcoin as an investment tool, I don't think people will often use it as an alternative tool to make payment transactions but will store their bitcoins and sell them when the price is at its best peak.
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June 15, 2022, 04:45:16 PM
 #44

I also live in a country where crypto is completely banned. You get jail if you were found dealing in bitcoin or doing bitcoin mining. What I do is I transfer my bitcoin to friend living in UK and he pays me via PayPal. I am lucky that I have such an honest friend whom I never meet in real world but online. You can also try that if crypto is ban in your country.
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June 15, 2022, 07:01:35 PM
 #45

No worries if the government ban crypto, use decentralized exchange and wallet to secure your funds and privacy. My government does not allow trading or holding crypto. But still, we survive. Using p2p or black market when we need to make it cash. So you have to do the same. Binance helps us with that for the p2p trade. Otherwise, we have no choice except to black-market though there is a risk of getting scamms.

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June 15, 2022, 08:24:21 PM
 #46

Hi, OP;
Bitcoin is revolutionary, not to be confused with anarchy, rebellious, adjectives with which they They could very well be used in those countries of your OP.  But as individuals we must weigh up to what extent without harming our present as citizens we must act in relation to the existing laws in the country where we residency.

It is very easy for someone who is not in certain countries, easily to give advice abouth bitcoin has no borders, you are your own bank, etc. because they don't have the risk likely to be fined or his freedom is not at risk.

Then, you can turn-on  idea revolutionary on the bitcoin issue but always stay within the laws of your country.

So if there are prohibitions, then fight against them, create proposals that are listened to, look for social organizations, give legal advice, whenever in a country that lives with restricted bitcoin you have to become a revolutionary of ideas(bitcoin).


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June 15, 2022, 08:42:17 PM
 #47

No worries if the government ban crypto, use decentralized exchange and wallet to secure your funds and privacy. My government does not allow trading or holding crypto. But still, we survive. Using p2p or black market when we need to make it cash. So you have to do the same. Binance helps us with that for the p2p trade. Otherwise, we have no choice except to black-market though there is a risk of getting scamms.
You can also  so peer to peer transaction - if you have trust worthy friends.You can always get your money exchanged through them.
There are also alternative sources available - you have to see - what other locals do and just get your money.

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June 15, 2022, 08:44:14 PM
 #48

Hopefully, every government can see the use of bitcoin for their citizens, so they will allow the use of bitcoin and legalize it. Several countries have legalized the use of bitcoin and allowed their citizens to pay for transactions using bitcoin. But with the other benefits of bitcoin as an investment tool, I don't think people will often use it as an alternative tool to make payment transactions but will store their bitcoins and sell them when the price is at its best peak.
Bitcoin is not just beneficial for us neither, it is great deal for the governments as well. We could literally pay taxes from our profits and those taxes would mean a lot of money for them.

Think about it, even if we paid just 1/1000 of our profit each time we profit, that would be a huge huge huge amount for a whole government because they will take it from each profitable trade made by every single citizen they have. That's going to be billions at least, use those billions to build something that will make them a profit, and they would be swimming in cash in a few years. That is at least if they use it smartly instead of just corruption and pocketing it.

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June 15, 2022, 09:16:41 PM
 #49

No worries if the government ban crypto, use decentralized exchange and wallet to secure your funds and privacy. My government does not allow trading or holding crypto. But still, we survive. Using p2p or black market when we need to make it cash. So you have to do the same. Binance helps us with that for the p2p trade. Otherwise, we have no choice except to black-market though there is a risk of getting scamms.
This is the only option, and its a good thing that decentralized exchange still works on a restricted place but of course you have to very careful to avoid any problem later on. Surviving on a place where Bitcoin is banned is not easy and seriously, I can’t imagine being on that place. Just be careful always on dealing with P2P, you might already transacting with the government agent, and this can be more risky. The other option is to convert your Bitcoin in other place, though it requires a huge cost but still its worth it if we are talking big money here.
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June 16, 2022, 02:12:47 PM
 #50

~snip~
Bitcoin is not just beneficial for us neither, it is great deal for the governments as well. We could literally pay taxes from our profits and those taxes would mean a lot of money for them.

Think about it, even if we paid just 1/1000 of our profit each time we profit, that would be a huge huge huge amount for a whole government because they will take it from each profitable trade made by every single citizen they have. That's going to be billions at least, use those billions to build something that will make them a profit, and they would be swimming in cash in a few years. That is at least if they use it smartly instead of just corruption and pocketing it.
That's what the current government should do instead of banning the use of bitcoin for the public. If governments do not or have not learned anything about bitcoin, they will be left behind by other countries and unable to see the benefits that they can get from bitcoin.

If more people use bitcoin and the government can get taxes from transactions sent to local banks, that will certainly be additional income for the government. This extra income can be huge as more people join and use bitcoin and it could be that it will be one of the biggest earners for the government.
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June 16, 2022, 02:39:31 PM
 #51

~snip~
Bitcoin is not just beneficial for us neither, it is great deal for the governments as well. We could literally pay taxes from our profits and those taxes would mean a lot of money for them.

Think about it, even if we paid just 1/1000 of our profit each time we profit, that would be a huge huge huge amount for a whole government because they will take it from each profitable trade made by every single citizen they have. That's going to be billions at least, use those billions to build something that will make them a profit, and they would be swimming in cash in a few years. That is at least if they use it smartly instead of just corruption and pocketing it.
That's what the current government should do instead of banning the use of bitcoin for the public. If governments do not or have not learned anything about bitcoin, they will be left behind by other countries and unable to see the benefits that they can get from bitcoin.

If more people use bitcoin and the government can get taxes from transactions sent to local banks, that will certainly be additional income for the government. This extra income can be huge as more people join and use bitcoin and it could be that it will be one of the biggest earners for the government.

Things like these could happen if the government aren't blind about the importance of Bitcoin in our economy but in some countries, they're trying to get rid of Bitcoin because they can't regulate it which is too unfair. The government usually disagrees with anything that they couldn't handle and control so they just ban it just like Bitcoin. It's just a good thing that other countries are open to cryptocurrency adoption.
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June 16, 2022, 03:18:16 PM
 #52

OP if you can’t survive in your place where BTC is banned, then you need to move to different country if you truly need to use Bitcoins.
Else go for elections and yourself become the President of the Country.
Moreover due to the decentralised nature of Bitcoins, it cannot be controlled by any government.
So you can keep your business with BTCs but with certain limitations.
You can use P2P transactions to buy sell Bitcoins.
And to store your Bitcoins use hardware wallet.
This will surely help to solve your problem upto certain limit.

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June 16, 2022, 03:43:48 PM
 #53

Don't worry, top exchanges like Binance, Kucoin and so on provide withdrawal services to banks, even if we are in any country we can receive money from these top exchanges within a week of working days.
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June 16, 2022, 06:10:31 PM
 #54

I also live in a country where crypto is completely banned. You get jail if you were found dealing in bitcoin or doing bitcoin mining.

I think this is a weird decision made by such country as it's assumed to be part of ways human rights are being deprived of, pls I will like to have interest in knowing that particular country that made such implementation, and if this is truly indeed truth then i think its incalled for, giving a jail term is totally an abuse to human rights to freedom.

What I do is I transfer my bitcoin to friend living in UK and he pays me via PayPal.

Another good and available option is to engage the use of p2p in situations whereby your government go against the payment transactions in bitcoin or cryptocurrency from their respective commercial banks, this has been the most acceptable means to boycott the sanctions raised by the government as against crypto.



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June 16, 2022, 08:37:44 PM
 #55

While there are countries who have embraced or tolerated BTC since it's emergence in 2008, there seem to be some who are adamant about it because of its high volatility rate and the ability to conduct nefarious activities with it.
 In September 2021, El Salvador became the first country to not just embrace it, but also to use it as a legal tender and where were followed by Central African Republic in April 2022. It would seem that these countries have seen the light(BTC), in this case and have held firmly.
 Despite it's controversial emergence, it has managed to gain a kind of positive publicity. Countries who are strongly against it and have moved for it's ban in their nations are;

Algeria
They passed into law in 2014 and making illegal the use, buying and selling or holding of crypto currency
Bolivia
 Bolivia Central Bank passed the law of the total ban of the use of crypto currency in 2014
China
 On Sept 24, the Bureau of the People's Financial Consumer Rights Bank of China outrightly banned the use of BTC. https://en.m.wikipedia.org/wiki/Legality_of_cryptocurrency_by_country_or_territory
 There are many more countries who have taken this step. My question now is, how do citizens who have BTC and reside in areas that are not crypto friendly cope?

Like any illegal activity, you could run great risk if you get caught - each of these countries have particularly repressive governments that could easily bury you in the prison system if they choose to make an example out of you. There is usually a powerful reason that they choose to ban it in the first place, if we take China as an example they want complete control of monetary policy because it gives them control over the actions of every citizen, they have shown willingness to use all methods in order to make somebody comply with their demands. Advising people on methods to get around restrictions in these sort of countries is very dangerous and you should avoid holding cryptocurrencies while resident in these places.

R


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June 16, 2022, 10:48:18 PM
 #56

You can still use it — mostly just not as a currency, but for holding. You just need to hold extra quietly, and make sure you don't over-allocate so you wouldn't be forced to sell some if you needed the money.
Actually, it depends on the status of BTC in that country. For a country that bans BTC both as a digital asset and a currency, I have no idea for the solution since we will be in trouble if known by the authorities. But if in that country, you aren't allowed to use it as a currency but you are free to use it as a digital asset, surely holding it is the right way. My country also legalizes BTC as a digital asset only, so we have no chance to use it as a currency. But to have it as a digital asset, we have no problem at all. Even, the government supports the development of crypto businesses and more people are confident to have crypto digital assets.


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June 16, 2022, 11:48:03 PM
 #57

Just because it is stated a ban connective to a law, it doesn't mean people are obedient and never use it. They always find a way for the same. Likewise the users from specific countries can give OP the best suggestion than others like me giving random choices. In most countries cryptocurrency is considered among the assets and not as legal tender. In my country we don't have the legal status of Bitcoin usage, but we continue using it. Neighbouring country people reach here for using cryptocurrencies. Maybe OP can try this, if it is possible.

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June 16, 2022, 11:53:11 PM
 #58

This is the beauty of BTC, its anonymity can give you the opportunity to transact without even the government knowing that you transacted. Like some have mentioned, using a decentralized exchange can provide you the opportunity to exchange your BTCs and convert them to your desired currency. Though this may be risky, p2p transactions may also do the trick but you have trust people from here.

But the best would be to move all of your BTCs and avoid any of the local exchanges hosted by the country. These types of exchanges are the ones who require KYC documents- avoid them at all cost if you do not want to experience conflict with the laws of your country.

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June 17, 2022, 02:18:28 AM
 #59

Don't worry about that, you can continue to invest in bitcoin or cryptocurrencies, if your country is banned from sites related to cryptocurrencies then you can subscribe to a VPN for around $ 10 per month, and I'm sure you can still receive money from top exchanges because currently there are many exchanges that provide facilities for withdrawals to bank accounts.
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June 17, 2022, 04:22:29 AM
 #60

Don't worry about that, you can continue to invest in bitcoin or cryptocurrencies, if your country is banned from sites related to cryptocurrencies then you can subscribe to a VPN for around $ 10 per month, and I'm sure you can still receive money from top exchanges because currently there are many exchanges that provide facilities for withdrawals to bank accounts.

We can make Bitcoin transactions if our country forbids it is by using a VPN, using a VPN is a common way that many people use to open access
to sites that are prohibited by the government. However, regarding the withdrawal of money from top exchanges, it cannot go directly to our
bank accounts, especially if our country is one that considers Crypto illegal, banks will not accept money from top exchanges. We can try platforms
that serve crypto exchange, because now there are many third parties that provide these services. We can also ask for help from our friends who live
in countries that legalize crypto to help withdraw money. In conclusion even though we live in a country that considers Bitcoin illegal, there is always
a way for us to have Bitcoin and make Bitcoin transactions, as long as we can still access the internet.

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June 17, 2022, 06:09:19 AM
 #61

Until now my country is still banned cryptocurrencies, many sites related to cryptocurrencies such as coinbase, binance, huobi and so on cannot be accessed via the website, but I have been active in cryptocurrencies since 2015, many things we can do even though we get restricted.
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June 17, 2022, 07:09:57 AM
 #62

This is a very easy thing to manage :

1. Collect as much bitcoins as you can, whilst you are in that (restricted) country. - There are ways to do this, without using local Exchanges.
2. Once you have enough bitcoins, go visit countries where Bitcoin is accepted and buy goods and have a great holiday paying with bitcoins.

I say.... F@#$$k those countries that does not want to support Bitcoin as legal tender..... just support the countries that does. The countries that does not accept it, will not get the VAT on the purchases of the coins you own. (Buy Apps and software online and pay with Bitcoin)  Wink  

3. The final option will be to relocate to another country that does accept Bitcoin as a payment option. (Once you have collected enough bitcoins)

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June 17, 2022, 09:04:37 AM
 #63

Things like these could happen if the government aren't blind about the importance of Bitcoin in our economy but in some countries, they're trying to get rid of Bitcoin because they can't regulate it which is too unfair. The government usually disagrees with anything that they couldn't handle and control so they just ban it just like Bitcoin. It's just a good thing that other countries are open to cryptocurrency adoption.
Governments shouldn't try to get rid of bitcoin just because they can't regulate bitcoin directly. Maybe people in government need to learn how they can use bitcoin for their own benefit so that the government can earn more from its users. This will only happen if they have an open mind to accept bitcoin and don't just try to ban its use. Hopefully, people from countries that ban bitcoin can still use bitcoin and there won't be any sanctions against them.
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June 17, 2022, 09:22:51 AM
 #64

I think this is a weird decision made by such country as it's assumed to be part of ways human rights are being deprived of, pls I will like to have interest in knowing that particular country that made such implementation, and if this is truly indeed truth then i think its incalled for, giving a jail term is totally an abuse to human rights to freedom.

Another good and available option is to engage the use of p2p in situations whereby your government go against the payment transactions in bitcoin or cryptocurrency from their respective commercial banks, this has been the most acceptable means to boycott the sanctions raised by the government as against crypto.

You can inbox me if you really wanna know my location. There are many countries where bitcoin is banned. P2P option is available here but the point is in P2P trading people are willing to but bitcoin at lower price. So P2P is not beneficial at all. I am comfortable with the way I m withdrawing the moeny.
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June 17, 2022, 09:29:49 AM
 #65

Things like these could happen if the government aren't blind about the importance of Bitcoin in our economy but in some countries, they're trying to get rid of Bitcoin because they can't regulate it which is too unfair. The government usually disagrees with anything that they couldn't handle and control so they just ban it just like Bitcoin. It's just a good thing that other countries are open to cryptocurrency adoption.
Governments shouldn't try to get rid of bitcoin just because they can't regulate bitcoin directly. Maybe people in government need to learn how they can use bitcoin for their own benefit so that the government can earn more from its users. This will only happen if they have an open mind to accept bitcoin and don't just try to ban its use. Hopefully, people from countries that ban bitcoin can still use bitcoin and there won't be any sanctions against them.
That's how it should be in dealing with Bitcoin, the government needs to have an open mind and that's important,
because if you just ban it is not the right solution and needs to be discussed further,
Cryptocurrency also continues to experience rapid development and this will continue to happen

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June 17, 2022, 09:58:37 AM
 #66

I am thinking if your country tracks down BTC users or those who transact bitcoin discreetly.  If your government does that, I won't suggest using VPN or any tools that bypass restrictions.  Doing such a thing will make your life miserable in jail or can confiscate your earned BTC plus a criminal case and fine.  If you have enough funds to move out of your country then do it and look for a place where BTC is welcomed.

Governments shouldn't try to get rid of bitcoin just because they can't regulate bitcoin directly.

That is what we believe but those who are in authority look at Bitcoin and its effect on the entire operation of a country while we are just thinking its effect to ourselves.  So there is a huge difference in terms of perspective.

Maybe people in government need to learn how they can use bitcoin for their own benefit so that the government can earn more from its users. This will only happen if they have an open mind to accept bitcoin and don't just try to ban its use. Hopefully, people from countries that ban bitcoin can still use bitcoin and there won't be any sanctions against them.

I bet they have looked into that but probably the current situation of that country does not benefit much if they adopt Bitcoin.  Or they see an act of accepting Bitcoin is like accepting a hostile take over of their finance system.

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June 17, 2022, 01:49:50 PM
 #67

I'm sure there are no countries that provide strict rules regarding cryptocurrencies, in my country cryptocurrencies are not legal yet, but the government collects taxes from transactions on some exchanges, even though it's not legal yet but I'm happy with the current condition because some local exchanges in my place have good service and Easy and fast withdrawal process.

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June 17, 2022, 09:07:22 PM
 #68

Yes you can, every human should be able to adapt to he's or her society one way or the other. Since they're not majorly used down your ends, you can still hold Bitcoin right ? Without anyone knowing about what you have.
Also you can use for p2p but not with anyone around your resident. You shouldn't thrive more if you're fiat poor then you can transfer some of them Bitcoin to some local exchange's. But I don't think the government has time to track folks making use of Bitcoin.

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June 17, 2022, 09:12:22 PM
 #69

Look at China, many of its citizens are for sure investors and holders of bitcoin. The country has been shifting from time to time telling that cryptos were banned.

Coming from ICOs, to mining and the actual ban on the ownership of crypto. Honestly, if a citizen there owns a lot of cryptos, he won't tell the government.

He can fly to the nearby countries where crypto isn't banned and that's where he can freely access his funds without a single worry. This is a way for those that are wanting it with the much effort way.

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June 17, 2022, 09:33:22 PM
 #70

Despite tte ban, China is still one of the big place where crypto venture capitals hailed from, most of them have migrated out of Hong Kong and close their offices due to this heavy restrictions.
I don't know how good you are with the internet but there is always ways out of any hard situations if you are smart since you still want to buy and hold bitcoin.
We have p2p places where bitcoin can be bought without kyc information, you are paired with either a buyer and a seller anytime you want to do crypto transaction and everything will looks like nothing ever happens in the first place.
You can also decoy your wallet by having two wallet address, used two passphrase for the two, write them down and fund one with all your bitcoin and the other one with little change of Bitcoin. Always make sure that the one with little change is the one you always display by default in case they want to seized your wallet. That's the way you can enjoy buying, selling and holding bitcoin in those countries.

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June 17, 2022, 09:56:47 PM
Merited by The Sceptical Chymist (4), DVlog (2)
 #71

While there are countries who have embraced or tolerated BTC since it's emergence in 2008, there seem to be some who are adamant about it because of its high volatility rate and the ability to conduct nefarious activities with it.
 In September 2021, El Salvador became the first country to not just embrace it, but also to use it as a legal tender and where were followed by Central African Republic in April 2022. It would seem that these countries have seen the light(BTC), in this case and have held firmly.
 Despite it's controversial emergence, it has managed to gain a kind of positive publicity. Countries who are strongly against it and have moved for it's ban in their nations are;

Algeria
They passed into law in 2014 and making illegal the use, buying and selling or holding of crypto currency
Bolivia
 Bolivia Central Bank passed the law of the total ban of the use of crypto currency in 2014
China
 On Sept 24, the Bureau of the People's Financial Consumer Rights Bank of China outrightly banned the use of BTC. https://en.m.wikipedia.org/wiki/Legality_of_cryptocurrency_by_country_or_territory
 There are many more countries who have taken this step. My question now is, how do citizens who have BTC and reside in areas that are not crypto friendly cope?

 

Bangladesh banned all kinds of cryptocurrencies, 3 rules of law is directly going against [Foreign Exchange Regulation Act 1947, the Money Laundering Prevention Act 2012, The Anti-Terrorism Act, 2009.] The authority banned all types of trading or  making any transection in digital currencies. Even, Central Bank sent a letter to the:
Quote
Criminal Investigation Department of the police that trading of cryptocurrencies cannot be considered apparently a crime although virtual coins are illegal under the laws of the country.
Cryptocurrency trading not allowed at all: Bangladesh Bank

On the other hand, If you take eye on the rela pictures of current situation of crypto industry in Bangladesh, its booming. Besides of decleration of baning, many peoples have invested in Bitcoin. Ex. Pathao have already have a DAO platform and also have a Opensea NFT store. Many small startup in crypto market is creating in the industry.
The Govt. knew the potensial of the crypto market, they can't or don't wanna miss the opportuanites in future. If your situation like this, you can invest openly, but if you are facing raw rule of law, then you can should follow alternative ways to invest in crypto.
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June 18, 2022, 08:06:33 AM
 #72

The truth is that every country's legality is different, it's hard to say that Bitcoin is profitable. Meanwhile, today BTC is experiencing a deep decline. Then, for people who are really addicted to Cryptocurrencies, it becomes a common thing. For example, in my country, Crypto legality is only limited to digital assets, it does not apply to trade for daily needs and I accept the rule. I don't know when, Crypto will be accepted in any country.
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June 18, 2022, 03:45:20 PM
 #73

The truth is that every country's legality is different, it's hard to say that Bitcoin is profitable. Meanwhile, today BTC is experiencing a deep decline. Then, for people who are really addicted to Cryptocurrencies, it becomes a common thing. For example, in my country, Crypto legality is only limited to digital assets, it does not apply to trade for daily needs and I accept the rule. I don't know when, Crypto will be accepted in any country.
That is correct. And in most of the counties this crypto is banned. When government wants to have strong control over the people.
But the best option for the user to survive is having peer to peer transaction. We do the same for paypal because - paypal in banned in our country.

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June 18, 2022, 08:49:28 PM
 #74

Don't:
Don't use centralized exchange
Don't link your address with any services e.g. gambling, lending, investment platform etc

Do:
Use decentralized exchange e.g. bisq
Buy a gift card using Bitcoin without link your identity
Use Tor to hide your IP address for searching any Bitcoin stuffs
Use a mixer e.g. Chipmixer to concealing your tainted coin for better privacy

Even your countries isn't ban Bitcoin, but you should be worry since government can do anything to ban or unban if they want. So you need to be prepare when the worst happen on your country about Bitcoin legality especially you live in the country where Bitcoin legality is still grey area.
Ever since the government of my country declared a ban on cryptocurrency trading entirely, many people I know end up taking the decision of patiently holding their coin until the ban is probably lifted maybe, when a new government that is cryto friendly comes into power. For they feel they can't keep up with especially the kind of don'ts you have just listed above.

But then I ask myself for how long can they be able to exercise such patience. What if the next government in power still stick to such ban as it's predecessor?
For people like us that stuck to our guns in still trading in cryto despite the ban, I must say it hasn't been that easy!
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June 18, 2022, 09:43:27 PM
Merited by The Sceptical Chymist (3)
 #75

I am thinking if your country tracks down BTC users or those who transact bitcoin discreetly.  If your government does that, I won't suggest using VPN or any tools that bypass restrictions.  Doing such a thing will make your life miserable in jail or can confiscate your earned BTC plus a criminal case and fine.  If you have enough funds to move out of your country then do it and look for a place where BTC is welcomed.
That is quite true. I mean if you use VPN to do that, it would mean that you are hiding doing something illegal and the government would punish you for it. By that logic, you could secretly do anything illegal and hope not to get caught, like for example drug dealers make SOOOO much money, why are we not all together become a drug dealer?

Because (well outside of health reasons) it would mean we would be jailed, why do something that you could get jailed for? Makes no sense to me at all. This is why it is quite important to realize VPN or not, if it is illegal, then stay away from it. That is what I would do but this is of course an individual decision for each person.
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June 18, 2022, 10:22:16 PM
 #76

I am thinking if your country tracks down BTC users or those who transact bitcoin discreetly.  If your government does that, I won't suggest using VPN or any tools that bypass restrictions.  Doing such a thing will make your life miserable in jail or can confiscate your earned BTC plus a criminal case and fine.  If you have enough funds to move out of your country then do it and look for a place where BTC is welcomed.
That is quite true. I mean if you use VPN to do that, it would mean that you are hiding doing something illegal and the government would punish you for it. By that logic, you could secretly do anything illegal and hope not to get caught, like for example drug dealers make SOOOO much money, why are we not all together become a drug dealer?

Because (well outside of health reasons) it would mean we would be jailed, why do something that you could get jailed for? Makes no sense to me at all. This is why it is quite important w realize VPN or not, if it is illegal, then stay away from it. That is what I would do but this is of course an individual decision for each person.
It is must to abide with the laws and policies that are being followed within the country. Whether it is cryptocurrency or something else, because when you make a plan to go against the law we're getting ourselves into trap. Moving to a crypto friendly country is the better option. More countries that are against the usage of cryptocurrency are now making welcoming statements. But, the recent crash have made them worried and think. So, you can hold your cryptocurrencies and wait. Maybe your country too can take a positive decision on cryptocurrency usage.

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June 19, 2022, 04:59:20 AM
 #77

if you mean a total ban. then it is very difficult. so the choice is that you can only hold it secretly. if you want to sell it can with p2p. although still risky. but I want to ask all of them. If we transact bitcoins from personal wallets to other personal wallets, is there a possibility that our whereabouts can be tracked such as via IP or something?
I'm a beginner, so I still don't know about this. because at first I thought it would be safe as long as we exchanged on foreign exchanges or p2p.

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June 19, 2022, 09:03:31 AM
 #78

if you mean a total ban. then it is very difficult. so the choice is that you can only hold it secretly. if you want to sell it can with p2p. although still risky. but I want to ask all of them. If we transact bitcoins from personal wallets to other personal wallets, is there a possibility that our whereabouts can be tracked such as via IP or something?
I'm a beginner, so I still don't know about this. because at first I thought it would be safe as long as we exchanged on foreign exchanges or p2p.
That is correct total ban has no solution - but than again an honest peer can be a great help.
We have paypal not operational in our country - so most of the local have friends in the region where they can make transactions through them.

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June 20, 2022, 03:41:36 PM
Merited by The Sceptical Chymist (2)
 #79

Survining with bitcoin in nations where it isn't allowed isn't much of an issue. We've got P2P to play a role in ensuring that the system stays as discrete as possible. It's for you to play safe by using p2p enabled exchanges to do your transactions. Bitcoin encourages anonymity and you remain as much if you don't go about publicising yourself as a bitcoin or crypto investor.
In most nations of the world, bitcoin or cryptocurrencies isn't welcomed just yet but still, its been used by some without any trouble. One way not to draw much attention to yourself as a crypto investor is in having an actual job. A job that could deflect attention from your other streams (in this case, cryptos) of income and you have a better way of explaining the source of your fortune.

R


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June 23, 2022, 10:54:53 AM
 #80

It sounds like can fiat currency kill BTC! I ready doubts about this concept of CBDC and its potential. Most of the country in the world doesn't have the ability and resource to create and maintain their own CBDC. Allowing crypto assets and taxing them is less costly and convenient for the govt than creating CBDC. Also, I do not find many similarities between them expect their use case. So talking about killing one another is irrelevant.
Look for other opportunities as well. There are many successful business. One of my friends lost so much money in crypto - he withdrew all the money and invested in local property
If you are that much interested in crypto - then find a good friend in the other region where crypto is legal and find a good solution...

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June 23, 2022, 12:18:31 PM
 #81

I know that there will always be loopholes for people who are citizens of those anti-crypto countries. They can be creative or thinking outside of the box, but it’ll be tougher for them to live a crypto life in an anti-crypto country like the ones you have mentioned. I can’t imagine myself living in those countries, but thank God I am in one of the crypto friendliest countries in the world.

Pla
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June 23, 2022, 01:28:17 PM
 #82

I know that there will always be loopholes for people who are citizens of those anti-crypto countries. They can be creative or thinking outside of the box, but it’ll be tougher for them to live a crypto life in an anti-crypto country like the ones you have mentioned. I can’t imagine myself living in those countries, but thank God I am in one of the crypto friendliest countries in the world.
although there is a way but at least this can hinder the development of technology in the country. and I see cryptocurrencies open up a lot of jobs, so this can be used to prosper the people. actually the best thing is to provide an understanding of crypto to the public, so that they are not wrong in investing. There are many ways that are misunderstood about crypto investing today, so that they are actually harming themselves

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June 23, 2022, 02:38:04 PM
 #83

Until now my country is still banned cryptocurrencies, many sites related to cryptocurrencies such as coinbase, binance, huobi and so on cannot be accessed via the website, but I have been active in cryptocurrencies since 2015, many things we can do even though we get restricted.

They can't ban it outright, as long as your device has an internet connection then you can use bitcoins through various services, VPN is possibly one of the solutions that I see people using the most.

The only restriction that I see in countries that ban bitcoin is that it cannot be converted to fiat, we cannot directly trade on centralized exchanges for bank transfers, we can use P2P to exchange but we should be really careful otherwise it will be very easy to detect.

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June 24, 2022, 03:15:35 AM
 #84

What the state can do is ban sites that are usually related to cryptocurrencies such as exchanges, market analysis and so on, but the government will not be able to ban all sites, including many applications on android, at first I was worried because my government has also massively banned exchange sites, but now I can access it easily via apps like binance, trustwallet and so on.
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June 24, 2022, 08:16:24 PM
 #85

What the state can do is ban sites that are usually related to cryptocurrencies such as exchanges, market analysis and so on, but the government will not be able to ban all sites, including many applications on android, at first I was worried because my government has also massively banned exchange sites, but now I can access it easily via apps like binance, trustwallet and so on.
If bitcoin is ban in your region. Than you should check from other crypto user how they withdraw their money.
There are regional forums too at bitcoin where people discusses their regional issues and you can discuss yours and get to know more local gamblors.
Good luck \

.
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June 24, 2022, 08:32:35 PM
 #86

What the state can do is ban sites that are usually related to cryptocurrencies such as exchanges, market analysis and so on, but the government will not be able to ban all sites, including many applications on android, at first I was worried because my government has also massively banned exchange sites, but now I can access it easily via apps like binance, trustwallet and so on.
Well things like this can still happen and indeed when I say restrictions are indeed in the country I live in, it's like that even for Binance we can only open in the Application but cannot open on the Website because there is already a ban there due to some cases with Stupid investment in several trading sites that made almost all trading sites banned in my country. but as you said there is always a way to minimize things like this so that indeed things like this will still continue even if the government prohibits it.

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June 24, 2022, 08:49:33 PM
 #87

We need to consider how stringent the restrictions are. If it's a total ban of cryptocurrency, then you're better off not trying to break the rules because you might end up facing a very hard punishment. But if it's just a limitation on local crypto exchange or banks restrictions on crypto activities then you can always use your decentralised exchange and P2P services for your native fiat currency.
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June 25, 2022, 02:15:31 PM
 #88

We need to consider how stringent the restrictions are. If it's a total ban of cryptocurrency, then you're better off not trying to break the rules because you might end up facing a very hard punishment. But if it's just a limitation on local crypto exchange or banks restrictions on crypto activities then you can always use your decentralised exchange and P2P services for your native fiat currency.

There are different forums on the bitcoin talk too. You can check how the locals are dealing with the situation if there are any in BTC.
Otherwise check out from locals how they do it. Think hard about it and get the work done.

.
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June 25, 2022, 06:48:18 PM
 #89

If BTC is illegal in your country and you're still using it means your are breaking the laws and also you can be charged for criminal activities. However bitcoin is not something like fiat so we don't have our names liked to the bitcoins until we buy from exchange we completed the KYC so you are going to be in need of no KYC p2p platform to crypto <=> fiat conversion and that's it, you will never be in the radar. Wink









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June 26, 2022, 08:04:20 PM
 #90

If BTC is illegal in your country and you're still using it means your are breaking the laws and also you can be charged for criminal activities. However bitcoin is not something like fiat so we don't have our names liked to the bitcoins until we buy from exchange we completed the KYC so you are going to be in need of no KYC p2p platform to crypto <=> fiat conversion and that's it, you will never be in the radar. Wink
Well said - the finest way is to find the solution or switch to the local businesses.
I am not sure if at this time people are still investing in crypto - keeping in consideration the inflation around the globe.

.
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romero121
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June 27, 2022, 11:38:23 PM
 #91

If BTC is illegal in your country and you're still using it means your are breaking the laws and also you can be charged for criminal activities. However bitcoin is not something like fiat so we don't have our names linked to the bitcoins until we buy from exchange we completed the KYC so you are going to be in need of no KYC p2p platform to crypto <=> fiat conversion and that's it, you will never be in the radar. Wink
People all around the world continue to use bitcoin. Governments weren't able to make a perfect infrastructure to tax cryptocurrencies. If not, by now majority of the countries would've announced officially that bitcoin is legal within the country. See, the above post shows how a user can make use of bitcoin when the government is watching you. However there is acceptance of bitcoin happening in a slower phase as countries that are against bitcoin in the past are legalizing the usage.
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June 29, 2022, 06:31:03 AM
 #92

If you can still use huobii or binance on a smartphone then you can receive money from exchanges, I once withdrawing USDT from the 2 exchanges and about 4 working days I receive in the account, the boundaries from the country will not be able to stop the creative cryptocurrencies community and of course more strong.

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minime0105
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June 29, 2022, 07:29:23 AM
 #93

If you can still use huobii or binance on a smartphone then you can receive money from exchanges, I once withdrawing USDT from the 2 exchanges and about 4 working days I receive in the account, the boundaries from the country will not be able to stop the creative cryptocurrencies community and of course more strong.
there's no place you will stay across the world but you will not have access of cryptocurrency in your exchange or wallet, only thing government can restrict you for is only not to use cryptocurrency to purchase anything or exchange of any physical transaction around the country that bitcoin is not legalised and if cryptocurrency is bum in such country there is another method of assessing a glitter currency wallet if binance is not having the network of cryptocurrency to be visible so you can support your site with a VPN in order to access cryptocurrency no country you cannot have where to buy or peer to peer cryptocurrency transaction.
Nrcewker
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June 29, 2022, 04:21:42 PM
 #94

If BTC is illegal in your country and you're still using it means your are breaking the laws and also you can be charged for criminal activities. However bitcoin is not something like fiat so we don't have our names liked to the bitcoins until we buy from exchange we completed the KYC so you are going to be in need of no KYC p2p platform to crypto <=> fiat conversion and that's it, you will never be in the radar. Wink

Bitcoins are decentralised in nature and for that reason no government can control the Bitcoins.
So if the OP or anyone is holding some Bitcoins, then no one can never know.
So if also BTC is banned in his country, then no problem, he can buy or sell Bitcoins through Peer to Peer deals or he can buy Bitcoins from here in the forum.
The only impact that he will be facing if Bitcoins are ban, is that he can’t use exchanges in his country, as they might have certain laws for that specific country.
Rest everything is normal like always.

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June 30, 2022, 01:42:13 PM
 #95

I am always worried that if my country takes aggressive action by closing cryptocurrencies, even though we hold the private key but we will encounter many difficulties, especially if I want to receive money from cryptocurrencies transactions, the easiest way is to make credit cards so it is easier for transactions at cryptocurrencies.

Cryptock
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July 01, 2022, 09:57:57 AM
 #96

I am always worried that if my country takes aggressive action by closing cryptocurrencies, even though we hold the private key but we will encounter many difficulties, especially if I want to receive money from cryptocurrencies transactions, the easiest way is to make credit cards so it is easier for transactions at cryptocurrencies.
the best way is to keep withdrawing your money time to time and invest in some secure local businesses. My friend was doing good in cypto - but his wallet got hacked and he was so upset. But then he started withdrawing money and invested in some local property - he is happy with his decision after a big loss.

.
.7 BTC  WELCOME BONUS!..
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coupable
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July 02, 2022, 07:07:03 PM
 #97

I entered the crypto field relatively early in 2014 and I live in a country where it is not even possible to own international payment cards, which was difficult for workers in the freelance sector on the Internet to get their salaries, so Bitcoin was the best solution for them, and it made it easier for them that they could make money if they could convince their employers to pay their salaries in Bitcoin. They have been wonderful days.

To this day, international banking services are still prohibited, as is crypto. Despite that, an important market is growing in this field despite all the restrictions and ban, besides promises of legal adoption.
Living in a country that prohibits Bitcoin trading is not impossible, but you just have to find a market that works in this field and it definitely exists.
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July 02, 2022, 09:12:33 PM
 #98

While there are countries who have embraced or tolerated BTC since it's emergence in 2008, there seem to be some who are adamant about it because of its high volatility rate and the ability to conduct nefarious activities with it.
 In September 2021, El Salvador became the first country to not just embrace it, but also to use it as a legal tender and where were followed by Central African Republic in April 2022. It would seem that these countries have seen the light(BTC), in this case and have held firmly.
 Despite it's controversial emergence, it has managed to gain a kind of positive publicity. Countries who are strongly against it and have moved for it's ban in their nations are;

Algeria
They passed into law in 2014 and making illegal the use, buying and selling or holding of crypto currency
Bolivia
 Bolivia Central Bank passed the law of the total ban of the use of crypto currency in 2014
China
 On Sept 24, the Bureau of the People's Financial Consumer Rights Bank of China outrightly banned the use of BTC. https://en.m.wikipedia.org/wiki/Legality_of_cryptocurrency_by_country_or_territory
 There are many more countries who have taken this step. My question now is, how do citizens who have BTC and reside in areas that are not crypto friendly cope?

 
Taking about Chinese - they are very particular about their laws. Even after so many years -Chinese and JApanese -  they don't like coping Americans. Although they have difficulty eating with chopsticks but they don't do it. Even they have their own social media and their local language phone. So i am not sure if they will go against their country laws.

.
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Shasha80
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July 03, 2022, 05:38:47 AM
 #99

I am always worried that if my country takes aggressive action by closing cryptocurrencies, even though we hold the private key but we will encounter many difficulties, especially if I want to receive money from cryptocurrencies transactions, the easiest way is to make credit cards so it is easier for transactions at cryptocurrencies.

Indeed, most governments do not support Bitcoin and also the government usually only legalizes Bitcoin as an investment. It is very rare for a country
to dare to legalize bitcoin as a legal tender. Even some countries prohibit the use of Bitcoin, and there are also countries that are trying to make
Bitcoin die, this initially made me worried the development of Bitcoin would stop. Because it turns out that the government is negative and
aggressive towards Bitcoin. But my guess is wrong, Bitcoin is more powerful than I imagined. Bitcoin turned out to be growing quite rapidly
in a decade, even the popularity of Bitcoin continues to increase every year. Just imagine Bitcoin managed to reach a price above $60k last year,
meaning that Bitcoin is trusted by many people, even though it is not supported by the government and is hated by the government. This means
that if anyone lives in a country where Bitcoin is banned, there's no need to worry. I believe there is always a way to be able to use Bitcoin.
In the end I believe countries that ban Bitcoin will change their minds, after realizing the benefits of Bitcoin.

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tygeade
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July 03, 2022, 08:52:48 AM
 #100

I am always worried that if my country takes aggressive action by closing cryptocurrencies, even though we hold the private key but we will encounter many difficulties, especially if I want to receive money from cryptocurrencies transactions, the easiest way is to make credit cards so it is easier for transactions at cryptocurrencies.
the best way is to keep withdrawing your money time to time and invest in some secure local businesses. My friend was doing good in cypto - but his wallet got hacked and he was so upset. But then he started withdrawing money and invested in some local property - he is happy with his decision after a big loss.
Just because your friend invested into bitcoin and got hacked, doesn't mean that bitcoin is a bad decision to go on. Plus, just because he invested into some local places, doesn't mean that it would be smart for them neither. Sure there could be some situations where you may get hacked and nobody denies that, but YOU are the one that is getting hacked in that situation, hence the problem is not in the nature of bitcoin, it is in the nature of people, who get hacked.

I have been here for nearly 10 years now, never got hacked, not because I am so careful or anything, but none of my coins are in places that could be hacked hence even if someone literally got my phone and my pc, they still wouldn't get a dime out of me.

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July 04, 2022, 03:56:42 PM
 #101

Just because your friend invested into bitcoin and got hacked, doesn't mean that bitcoin is a bad decision to go on. Plus, just because he invested into some local places, doesn't mean that it would be smart for them neither. Sure there could be some situations where you may get hacked and nobody denies that, but YOU are the one that is getting hacked in that situation, hence the problem is not in the nature of bitcoin, it is in the nature of people, who get hacked.

I have been here for nearly 10 years now, never got hacked, not because I am so careful or anything, but none of my coins are in places that could be hacked hence even if someone literally got my phone and my pc, they still wouldn't get a dime out of me.
You are the lucky one - I hope you remain lucky forever.
But then again the problems are there and they do exist. However luck and bad luck goes side by side and there is no denial for sure.

.
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July 04, 2022, 05:00:06 PM
 #102

Bangladesh banned all kinds of cryptocurrencies, 3 rules of law is directly going against [Foreign Exchange Regulation Act 1947, the Money Laundering Prevention Act 2012, The Anti-Terrorism Act, 2009.] The authority banned all types of trading or  making any transection in digital currencies. Even, Central Bank sent a letter to the:
Quote
Criminal Investigation Department of the police that trading of cryptocurrencies cannot be considered apparently a crime although virtual coins are illegal under the laws of the country.
Cryptocurrency trading not allowed at all: Bangladesh Bank

On the other hand, If you take eye on the rela pictures of current situation of crypto industry in Bangladesh, its booming. Besides of decleration of baning, many peoples have invested in Bitcoin. Ex. Pathao have already have a DAO platform and also have a Opensea NFT store. Many small startup in crypto market is creating in the industry.
The Govt. knew the potensial of the crypto market, they can't or don't wanna miss the opportuanites in future. If your situation like this, you can invest openly, but if you are facing raw rule of law, then you can should follow alternative ways to invest in crypto.

I know pathao is a very popular ride-sharing app in Bangladesh but I didn't know that they have an openseas NFT store. I do not think that govt have any intention to legal crypto in Bangladesh. People from Bangladesh are still not that well known about crypto and without having enough knowledge it could create an economic disaster for the country. The Bangladesh Govt should invest in blockchain technology and spend more money on spreading awareness about crypto.

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July 04, 2022, 08:47:33 PM
 #103



I know pathao is a very popular ride-sharing app in Bangladesh but I didn't know that they have an openseas NFT store. I do not think that govt have any intention to legal crypto in Bangladesh. People from Bangladesh are still not that well known about crypto and without having enough knowledge it could create an economic disaster for the country. The Bangladesh Govt should invest in blockchain technology and spend more money on spreading awareness about crypto.
seems like India and Bangladesh are leading ahead in crypto and IT industry.
But other south Asian countries like Sri Lanka and Pakistan are not very advance in these things. It will take some time but surely something will happen in the near future.

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July 09, 2022, 01:48:18 PM
 #104

If BTC is illegal in your country and you're still using it means your are breaking the laws and also you can be charged for criminal activities. However bitcoin is not something like fiat so we don't have our names linked to the bitcoins until we buy from exchange we completed the KYC so you are going to be in need of no KYC p2p platform to crypto <=> fiat conversion and that's it, you will never be in the radar. Wink
People all around the world continue to use bitcoin. Governments weren't able to make a perfect infrastructure to tax cryptocurrencies. If not, by now majority of the countries would've announced officially that bitcoin is legal within the country. See, the above post shows how a user can make use of bitcoin when the government is watching you. However there is acceptance of bitcoin happening in a slower phase as countries that are against bitcoin in the past are legalizing the usage.

Those countries that ban BTC will end up accepting it and I think the best way to accept it is as most are doing and it is through regulations, it is a very serious way to do it and without them they will look like idiots, because it will make people think that they still have the power, but it is a matter of people beginning to learn (those who do not know) that it can be more anonymous, with wallets, with decentralized exchanges, among other tools, mixers are a fundamental part here, then it is a matter of time for people who do not know about btc to learn and know that there is a very big world in finance and that this alternative economy is much better and gives better opportunities than the traditional one.

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July 09, 2022, 02:26:48 PM
 #105

Just because your friend invested into bitcoin and got hacked, doesn't mean that bitcoin is a bad decision to go on. Plus, just because he invested into some local places, doesn't mean that it would be smart for them neither. Sure there could be some situations where you may get hacked and nobody denies that, but YOU are the one that is getting hacked in that situation, hence the problem is not in the nature of bitcoin, it is in the nature of people, who get hacked.

I have been here for nearly 10 years now, never got hacked, not because I am so careful or anything, but none of my coins are in places that could be hacked hence even if someone literally got my phone and my pc, they still wouldn't get a dime out of me.
You are the lucky one - I hope you remain lucky forever.
But then again the problems are there and they do exist. However luck and bad luck goes side by side and there is no denial for sure.
Luck? I don't think that security depends on luck of an individual but rather you, alone determine how secured your assets and crypto are. Bitcoin technology is too secured to be easily hacked by anyone and your hardware security depends on you or the owner. You can keep your phrases or private key either offline or thru your PC or mobile or even at a hardware wallet such as trexor to keep your funds safe from anyone.

So yes, Luck doesn't concern you if you talk about security of your funds in crypto.

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July 10, 2022, 08:15:36 AM
 #106

it will be very crowded if we live where bitcoin is prohibited in that country. because if caught using it then we will face complicated problems with the law. I'm still lucky to live in a country that doesn't totally ban bitcoin in its use. it's just not legal for payment. but for those who live in a country that strictly prohibits bitcoin, the only step that can be taken is to maintain confidentiality. be anonymous.
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July 10, 2022, 12:03:15 PM
 #107

it will be very crowded if we live where bitcoin is prohibited in that country. because if caught using it then we will face complicated problems with the law. I'm still lucky to live in a country that doesn't totally ban bitcoin in its use. it's just not legal for payment. but for those who live in a country that strictly prohibits bitcoin, the only step that can be taken is to maintain confidentiality. be anonymous.
In the country I live in now Bitcoin is not completely prohibited because in any payment you still have to use the country's currency so storing Bitcoin is still very safe as long as you don't use it into any payments (for goods or services) within the country. So its use is still very limited and also only prohibited for certain things and for me it is still very good because it does not have to deal with the law.

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July 14, 2022, 07:31:02 PM
 #108

Be wise not because your current location doesn't accepts Bitcoin nor make use of them doesn't mean you can or should not make use of the local fiat available. It might be life and death you know.
Good example is in China, you can help but adapt to the law by making use of the local fiat or two h Yaun digital currencies. But you can still use secretly with those who are mutual about it.

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July 14, 2022, 10:55:11 PM
 #109

While there are countries who have embraced or tolerated BTC since it's emergence in 2008, there seem to be some who are adamant about it because of its high volatility rate and the ability to conduct nefarious activities with it.
 In September 2021, El Salvador became the first country to not just embrace it, but also to use it as a legal tender and where were followed by Central African Republic in April 2022. It would seem that these countries have seen the light(BTC), in this case and have held firmly.
 Despite it's controversial emergence, it has managed to gain a kind of positive publicity. Countries who are strongly against it and have moved for it's ban in their nations are;

Algeria
They passed into law in 2014 and making illegal the use, buying and selling or holding of crypto currency
Bolivia
 Bolivia Central Bank passed the law of the total ban of the use of crypto currency in 2014
China
 On Sept 24, the Bureau of the People's Financial Consumer Rights Bank of China outrightly banned the use of BTC. https://en.m.wikipedia.org/wiki/Legality_of_cryptocurrency_by_country_or_territory
 There are many more countries who have taken this step. My question now is, how do citizens who have BTC and reside in areas that are not crypto friendly cope?

 
Taking about Chinese - they are very particular about their laws. Even after so many years -Chinese and JApanese -  they don't like coping Americans. Although they have difficulty eating with chopsticks but they don't do it. Even they have their own social media and their local language phone. So i am not sure if they will go against their country laws.
The more correct question to ask is whether they can actually violate the laws of their countries and use Bitcoin, contrary to the legal formulas that prevent its use, or is their loyalty to the decisions of their governments more important than their needs in violation of those legislation.
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July 15, 2022, 03:06:00 AM
 #110

The government of my country is also still banned cryptocurrencies, even now I actively transact cryptocurrencies, top exchanges such as coinbase, binance, huobi and so on provide withdrawal options directly to the account and for foreign consumers need a maximum of 5 working days to get to the destination account.


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Iroh
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July 15, 2022, 10:21:02 AM
 #111

Your question on the subject topic I think is highly rhetorical as humans have survived in far worse conditions before btc became a thing. So I don’t think you should be worried as you’re probably be just fine.
You could maybe also get a job like most people and get paid in fiat as I think that would help living in a society where btc is restricted
og kush420
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July 16, 2022, 10:18:39 PM
 #112

Your question on the subject topic I think is highly rhetorical as humans have survived in far worse conditions before btc became a thing. So I don’t think you should be worried as you’re probably be just fine.
You could maybe also get a job like most people and get paid in fiat as I think that would help living in a society where btc is restricted
there are some local forums too - you can also check what other local of your area are doing and you can use the same procedure.

Little Mouse
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July 19, 2022, 08:42:30 AM
 #113

Ex. Pathao have already have a DAO platform and also have a Opensea NFT store.
Where did you get this information. I can't see anything like that anywhere. Can you add some source or link so that I/we can check out that? I really have no idea when all these happened and how? Because to be listed in opensea they have to use ETH which is forbidden to use in our country.


My bad. Sorry for necro bump. I didn’t even bother to check when this topic got the last reply when I saw this post.

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