tjtonmoy (OP)
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February 14, 2023, 07:56:09 PM |
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Bitcoin is the fastest growing crypto in recent few years. We have seen many countries legalizing it as a currency. This is great news for the community too. Many are taking advantage of Bitcoin. But on the other hand, many are trying to get rid of it. Thus, they are banning crypto. Showing lame excuses to put it down. I live in a country where Bitcoin and all other cryptos are ban.
Few months back, I started a business and was doing great. And out of curiosity, I started accepting Crypto as a payment method. I have already posted about it in the past, so I don't want to talk about it here anymore. Just for little information- I had to stop accepting crypto because it is banned now. It was in a gray area for some times, but the law enforcement is arresting those who are involved in crypto, and this is the reason.
So what I want to talk about today is, those countries who legalize bitcoin and crypto. What was their first push? What led them to legalize crypto. Is it totally depended on Government decision or some individuals can convince the Government to do it?
I know it will take a lot of effort for one to convince the whole country to accept cryptocurrency, but what is there to try in order to make it possible. I know there are many senior persons in this forum who has contributed their effort for their country's legalization.
So I want to know from them what can I do to make it possible. I know if I start, many will join me too. It's not possible by one person. Share me your knowledge on what I should do. What is the correct approach and what step should be the first. For your information, many in our country doesn't even know what cryptocurrency is.
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Macadonian
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February 14, 2023, 08:14:27 PM |
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Poor countries are more likely to accept Bitcoin because they are looking to propel their country forward. None of the wealthy countries have made Bitcoin legal tender the most they do is regulate it. I do not think we can convince the governments of the wealthy nations to adopt bitcoin but I think we can convince them that banning it is worse for them and the people because it would be a reduction of freedom but they profit of accepting bitcoin because they can claim taxes on it. if you remove bitcoin from the economy it would be like removing 1000 of jobs.
I would not worry too long about your country banning Bitcoin most of the countries that have banned bitcoin in the past like Russia and China have accepted it again a few months after the ban. What country do you live in btw?
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Die_empty
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February 14, 2023, 08:26:14 PM |
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Every country is governed by laws made by the government through parliamentary or executive orders. Every policy of the government can be determined by the ideology of those in government or public opinion. If those in power see the importance or need to legalize cryptocurrency, they would make favorable policies. But some governments are rigid and close-minded which propels them to make policies against the crypto industry.
Citizens or groups can make moves targeted at making the government change its negative view on bitcoin and other. Citizens can present a bill in the parliament through their representatives seeking to promote bitcoin or lobby some parliamentarians. Public enlightenment programs and peaceful demonstrations and rallies could also be good instruments to push for bitcoin adoption.
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franky1
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February 14, 2023, 08:31:53 PM |
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technically all countries that "legalised" it.. did ban it but in the same breath, seconds later, permitted it
this is because to be able to offer licences/permits. they first need to ban it
so if they want businesses to buy licences. they first need businesses to be banned from using it. to then offer a permit/licence to then use it. its the only way the world work where they decide to licence, regulate stuff
so the legalisation was a businesses are banned at 00:00:00 but if you buy a licence of you are a money service business(exchange) before [time] then at [time] your again permitted. other laws are. if you are a merchant selling goods for coin you are permitted without needing to buy a licence
some countries done it as a 0 second event to gain regulatory jurisdiction over the businesses(the NY btc licence is a good example)
some banned for a couple months to get their regulatory systems in place to allow it under their permit/reasoning
some take longer between the ban vs permit
history: it took decades to ban then permit alcohol drugs history: it took decades to ban then permit some recreational drugs
you are seeing some countries banning electric vehicles (bikes that go over X speed) where they will later offer licences to use them
as thats the only way they gain control to even be able to offer a permit/licence by first banning said subject
countries that can arrange the ban->permit as a 1 second event are better than the countries that prefer the month-decade intermission/delay
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I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER. Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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Doan9269
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February 14, 2023, 09:10:58 PM |
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So what I want to talk about today is, those countries who legalize bitcoin and crypto. What was their first push? What led them to legalize crypto. Is it totally depended on Government decision or some individuals can convince the Government to do it?
The beginning of interest on cryptocurrency begins with the introduction of bitcoin being the first decentralized digital currency before other cryptocurrencies begin to come up whch were centralized, also we have many countries that legalizes cryptocurrencies but we only have two countries that have bitcoin as a legal tender which is El-Savador and Central African Republic, no country had ever made any other cryptos a legal tender, to cap it all, bitcoin is the force that drive them because it's been decentralized and serve a newly different introduced system of currency and payment in a convinient way and the government never encourage this from the start.
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franky1
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February 14, 2023, 09:25:31 PM |
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the best way to get governments to speed up the process of their future permit allowance. is to speed up their understanding of crypto and offer them best practices of regulation and businesses operating in crypto
EG merchants selling goods/services below 1k. no licence/audit/inspection required (free unrestricted acceptance) EG custodial exchanges. require licence/audit/inspection and proof of customers custody reserves separate from business owned property (regulated acceptance)
EG asics dont contain transaction data nor choose the code. they just hash a hash so dont need to be regulated/licenced (free unrestricted acceptance)
EG developers dont personally handle value personally. they just make software. much like bill gates makes excel but does not hand customer bank money of bank of america. even if bank of america use excel to do accounting thus developers are not fiduciaries, thus dont need regulating (free unrestricted acceptance)
i dumbed down a few concepts. but im sure you can do research on what other countries have done want to do and will do. to get a list of things and bake practical lists of whats best practice and desires of your country
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drwhobox
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- hello doctor who box
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February 14, 2023, 10:21:21 PM |
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Bitcoin is the fastest growing crypto in recent few years. We have seen many countries legalizing it as a currency. This is great news for the community too. Many are taking advantage of Bitcoin. But on the other hand, many are trying to get rid of it. Thus, they are banning crypto. Showing lame excuses to put it down. I live in a country where Bitcoin and all other cryptos are ban.
Yes bitcoin has many advantages and power, but the most powerful thing is that bitcoin can replace banks. But I think no governments want their central banks to replaced by a currency which is can not be controlled or centralized by govt. So this is obvious for governments to ban bitcoin or cryptocurrency. Few months back, I started a business and was doing great. And out of curiosity, I started accepting Crypto as a payment method. I have already posted about it in the past, so I don't want to talk about it here anymore. Just for little information- I had to stop accepting crypto because it is banned now. It was in a gray area for some times, but the law enforcement is arresting those who are involved in crypto, and this is the reason. It is sad that you have to stop accepting bitcoin for the ban issue of your country. No one should take that kind of risk while the government is taking action against peoples involved in bitcoin.
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tabas
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February 14, 2023, 10:29:55 PM |
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It really depends on the view of the government and that sets to the higher officials in the agencies where they're assigned especially related to finance matters of the country. What I can see is that not really all of them are optimistic about bitcoin but they just want to source out some taxes from it. So, either they like it or they have no option because their people are already on it. Whilst for those countries that have been vocal about their crypto adoption, they're seeing the posivity of it that it will create a huge billion dollar market and they don't want to be seen late on it. And with your plan of trying to spread the word in a country where it is banned, I think you really have to deal with this hardship or if else caught, you'll be taking the consequence of it. I think the best start is to know the other people that are also in crypto in your area and make a small community from there.
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franky1
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February 14, 2023, 11:24:47 PM |
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take as much advice as you can from people in your country to form a draft policy that sets out the common sense(hard to object against) policy of what regulators should concentrate on(licence) and what should get a free pass(not restricted/banned, nor need regulation nor licence)
EG free pass developers of open decentralised networks merchants miners users/customers, public
EG licenced/regulators developers/companies offering a pre-mined centralised/ICO/closed network of crypto custodial services/exchanges
note down what expectations regulators should perform EG audit custodians to ensure they are securing customer funds not allowing custodial services from bad small print terms of service that harm customers(high risk of loss while leaving business not liable is a no no) make busineses accountable to customers where customers have more rights than the business serving the customer
.. once you list a draft of common sense idea's that benefit the publics wealth security. pass it around to all the politicians to read and get to know reference to other people in your country that politicians have been given such advice and idea
and if the people you speak to agree with it and it goes viral as a good idea. turn it into a petition for the government to push forward into uniting under the idea
but like i said get advice from those around you of whats best for your country that just makes sense and is obvious benefits to the majority
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Jawhead999
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February 15, 2023, 03:41:42 AM |
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We have seen many countries legalizing it as a currency.
So what I want to talk about today is, those countries who legalize bitcoin and crypto. What was their first push? What led them to legalize crypto. Is it totally depended on Government decision or some individuals can convince the Government to do it?
I know there are many senior persons in this forum who has contributed their effort for their country's legalization.
Currently, only 2 countries are accepting Bitcoin as a currency e.g. El Salvador and Central African Republic, the rest it's only accept Bitcoin as an investment asset. So you're wrong for saying many countries right now are accepting Bitcoin as a currency. Both El Salvador and Central African Republic are started from their president itself, there's no citizen ask the government to legalize Bitcoin. You need to know there's a high risk you will face a problem because you broke the laws. Which these senior persons in this forum? you need to mention them because I don't see anyone in this forum combating against the Bitcoin's laws in their countries.
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pooya87
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February 15, 2023, 04:24:27 AM |
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So what I want to talk about today is, those countries who legalize bitcoin and crypto. What was their first push? What led them to legalize crypto. Is it totally depended on Government decision or some individuals can convince the Government to do it?
One way of looking at this question is from the utility for the government perspective. You should expect resistance from governments (the centralized authority) in all countries without exception simply because bitcoin is decentralized and they can never have any kind of control over it. But if bitcoin has a certain utility for the government or has a certain utility against the government, they will choose a different approach. Lets see some examples. El Salvador government adopted bitcoin because it offered a lot of utility to the government. They could invest in it and in the long term build up a good reserve currency that would be worth a lot of money. They could also attract a lot of investment to their country and build their economy. They still tried a centralized approach with a government created closed source non-custodial wallet! US government has been against bitcoin and they have been trying to ban it and is enforcing bans little by little simply because bitcoin offers an option to dump US dollar and it ruins US government. China has been putting a lot of restrictions on bitcoin because like US, bitcoin is used as an option to dump Yuan and China was also creating a CBDC which they tried to get everyone to adopt and bitcoin was and still is a serious competitor. This doesn't mean things will remain the same though. For example in a year from now we may see a complete ban in US and in a couple of years when US economy is fallen apart completely we could see a mass adoption of bitcoin in US completely replacing dollar.
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mk4
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February 15, 2023, 04:31:43 AM |
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While I'm not from a country where Bitcoin is necessarily legal(neither legal nor illegal) — if I were to guess, some countries legalize bitcoin simply because their GDP is very small and they're willing to take risks. If Bitcoin actually grows in the long term, they can reap the benefits for legalizing earlier than most countries.
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tjtonmoy (OP)
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February 15, 2023, 07:29:06 PM |
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Which these senior persons in this forum? you need to mention them because I don't see anyone in this forum combating against the Bitcoin's laws in their countries.
I did not mean to say it like that. I mean, there are people here obviously from those 2 country. So they may know something, or maybe I am just unaware of that. I was just asking if there's any, then they could give some suggestion on this. That's all. And if it's totally from government side, then they have nothing to say in this matter. ~snip
I have read all your reply, they are very informative. I will try to do as you say. It will be a long journey for my country to adapt to bitcoin. Let's see what the future holds for us.
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franky1
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February 15, 2023, 08:22:38 PM |
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~snip
I have read all your reply, they are very informative. I will try to do as you say. It will be a long journey for my country to adapt to bitcoin. Let's see what the future holds for us. look at your last elections. of your own local representative. what was the vote count of your local regions election.. if it was say a difference of 50k that could have swung the vote. then target a petition of getting enough votes to 'scare' a candidate into thinking he wont win unless he mentions positively a pledge that XXk petitioners desire carrot and stick pledge you are pro bitcoin and get XXk more voters.. say your anti-bitcoin and lose xxk voters it doesnt have to be a pledge of one topic requiring a high community of that one topic. think of similar things the community in your area want that will get many to sign (its like how US congress bills get passed by dropping in several laws into 1 bill that sway the majority of congress into agreeing to. just to get the small law they actually want passed) so think smart about the wording of what you/your local community want from a representative and make it read worthy of signing a petition to get more numbers to sway your candidates into agreeing to pledge to find other like minded people in your nation to do the same for their regional candidates
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I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER. Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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tjtonmoy (OP)
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February 15, 2023, 08:46:27 PM |
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find other like minded people in your nation to do the same for their regional candidates
WOW, gotta admit, your way of thinking is really different. I have never thought of anything like this. This could work like a charm. But getting people to come together in order to do something which they have no knowledge about will be a real pain. But as we, the youth are the majority of the population and have the power of voting, we could really turn the table this way. If I am to follow this path, I will have to let the youth know about bitcoin first. I have taught many people who are close to me, and it was not that much of a hard thing to do. So I think I can pull this off. It will take some time for sure. Thanks again for your wonderful advice.
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lionheart78
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February 15, 2023, 09:39:17 PM |
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So I want to know from them what can I do to make it possible. I know if I start, many will join me too. It's not possible by one person. Share me your knowledge on what I should do. What is the correct approach and what step should be the first. For your information, many in our country doesn't even know what cryptocurrency is.
If you want to create your own crypto community, you need to learne the left and right of cryptocurrency especially the one cryptocurrency you wanted to support. Then you can use social media, circle of friends, and relatives as prospects to join your own community. Bitcoin had been propagated through the use of both words of mouth and shares. So after learning stuff about Bitcoin, you should think hard about what approach you will use in order to get those prospects interest to your idea.
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franky1
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February 15, 2023, 10:05:40 PM Last edit: February 15, 2023, 10:18:48 PM by franky1 |
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you do not have to go extreme in teaching every one that you want to sign a petition to understand bitcoin
you can have simple petitions like "we the citizens, names and signatures listed below, will not vote for any candidate that does not pledge to overhaul the financial restrictions that limit our access to the international financial systems. we wish to see our next chosen representative to allow citizens better access to international currencies both fiat and crypto, and restructure regulations to be less about policing and limiting citizens access, and instead more geared toward consumer protection and financial freedoms. any candidate or currently running politician who vows to go against citizens financial freedoms will not get our vote"
see you dont have to explain bitcoin. you just have to show signatures of enough people that want restrictions lifted where by its in candidates best interest to pander to those wishes and be pro freedom
also trying to organise a "1million person march" protest in one city to just shout "we want financial freedom" is just noise outside a window, on the street, to a politician.. he can just turn his radio up louder and ignore it but being handed a petition of 100k people(legally cant be ignored) saying they wont vote for that city/regions politician if he doesnt go pro-financial freedom. will hurt him more and is more of a sway
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I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER. Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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Husires
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February 15, 2023, 10:23:53 PM |
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Mostly, the state does not have laws regarding digital currencies, and when people began to use them and increased, with the influence of the upper classes on them, rationing was positive or negative. If people lose their money, they start complaining, which will force governments to take decisions, and so on. If people earn money, governments become greedy and impose taxes.
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