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

[Cryptock]

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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[DVlog]

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:

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.

[og kush420]

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.

[LUCKMCFLY]

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.

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.

[Jemzx00]

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.

[BRINIRHA]

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.

[bestcoins1]

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.

[harapan]

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.

[coupable]

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.

[Joshapat]

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.

[Iroh]

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]

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]

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.