Bans on crypto now looks like a joke

[abralzain17]

I don't think it will be unstoppable, even though the government in certain countries continues to ban its people and of course at the same time crypto continues to be outperformed by other countries, so the ban will cancel itself. and this has happened in several countries including in my country.
I think the form of the ban is because the government itself doesn't understand the use of crypto.

[1714687899]

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[1714687899]

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[bitgolden]

I can't see how the USA will become crypto friendly in the near future. Both China and the USA will remain hostile towards all cryptocurrencies, because they will keep pushing their CBDC projects(as we all know, CBDC are NOT cryptocurrencies).
Banning crypto is the same as banning drugs, alcohol, prostitution and gambling. It doesn't work. It only gives more space and more business to the criminals and mobsters. Having a good regulatory frame is way better than a total crypto ban, but the politicians and the bankers simply don't care about the crypto industry. They want money in their pockets. This is the only thing they care about.

They sort of are already? I mean Coinbase is a publicly traded company, I understand that Biden didn't go out and gave a speech about how awesome bitcoin is, and maybe he never will, neither did Trump as far as I can remember.

However, we need to also remember that we are talking about a nation that allowed a crypto exchange website to get a publicly traded stock. If they allowed such a thing that means they are pro-crypto, that is as high as you can get, people can trade there, and people can own crypto, be taxed from it, mine crypto and many other things. I can't really say one thing that is banned about crypto there, sure you can't create your own and rug pull people, but anything legit could get legal there anytime they want.

[naira]

Which country between these two would you rather see welcoming crypto and fully embracing Bitcoin? China? The United States?

Personally, big countries like China, the US or Russia are better off being neutral than having a share, because what I see is that countries like that will always look at it from a profit standpoint and control it from within. Therefore, if the position is neutral crypto growth will be much more stable without the interference of big powers. Maybe some of us see it when countries like China and the US are crypto-friendly to have a big impact on adoption? may be true but the US and China have a much broader goal which is to control every financial transaction entering every exchange at any time if it is to pass regulation. That is what we need to fear, not only from the positive side but the negative side where anonymity has completely disappeared.

[Davidvictorson]

Banning crypto is no more effective on crypto itself, it's now more like a pure joke, I would still like to see the U.S embrace crypto more than China, just my own answer to my question, what about you?[/b]

I agree banning of cryptocurrency or bitcoin is not no longer effect. A case study is Nigeria. Many months ago the government put a ban cryptocurrency transactions. What it means is that  one could no longer buy bitcoin directly from any crypto exchange like binance and pay directly from their bank. If you do so your bank account will be frozen. What did the citizens do, we switched to Peer to peer trading for sales and purchase of cryptocurrencies. Although  there are risks associated with this, we got no other option. As a matter of fact, when the country was hit by inflation after some months, many people started to adopt bitcoin to save their wealth. So you see the ban on bitcoin transactions wasn't effective at all up till date. I feel that the bank has made my country miss out on a lot of development that bitcoin and its associated technologies would have brought in.

[slapper]

Which country between these two would you rather see welcoming crypto and fully embracing Bitcoin? China? The United States?

I read an article that says that upon the ban of Cryptocurrencies in China over 30 million Chinese are using Crypto in the country.

At this point in Bitcoin and crypto life, Ban is no more an issue it seems, what do you think about this? It's like saying a country ban VPNs where as you can bypass any country's FireWall.

Banning crypto is no more effective on crypto itself, it's now more like a pure joke, I would still like to see the U.S embrace crypto more than China, just my own answer to my question, what about you?

I am actually more leaned on China embracing Bitcoin rather than the US. This is because in the past a lot of Chinese really took crypto seriously and when bans happened some even migrated to other countries that were more tolerant towards crypto currencies. And besides, population of China is no joke either, if ever those people really get into crypto, I believe that there would be a huge movement in this industry with regards to volume. Not just on bitcoin but to all the other crypto currencies they get their sights on.

And about crypto banning, it really doesn't hold that much weight anymore compared to the past since it has been approved and lifted lots of times already. People also realised that regardless of the ban, most hodlers would never dump which is why despite bad news people tend to hold onto their bitcoins more nowadays.

China and Bitcoin? Folks, it's a game-changer, huge! China's population? Enormous! If they go crypto, transaction volume will go through the roof, believe me. And not just Bitcoin, all those other cryptos will soar too.

China has played nice with crypto before. When bans hit, some Chinese folks moved to crypto-friendly countries. But now? Crypto bans don't pack a punch like they used to. It's like a rollercoaster, up and down.

And let's not forget, hodlers don't just sell their cryptos because of bad news. They know bans don't change much, folks. Holding onto crypto? Could be a bigly win in the long run.

Bottom line, China and Bitcoin? It could shake up the crypto world.

[ancafe]

Which country between these two would you rather see welcoming crypto and fully embracing Bitcoin? China? The United States?

I want to know fully accept crypto, like what do you mean?because usually every country has a different treatment of crypto, in my country crypto is legal as a commodity asset but prohibited as legal tender.

I read an article that says that upon the ban of Cryptocurrencies in China over 30 million Chinese are using Crypto in the country.

It's best if you link the link so that we can read as material for discussion, as far as I know China is very extreme towards the journey of crypto to its people and many restrictions are binding and they cannot be violated.

At this point in Bitcoin and crypto life, Ban is no more an issue it seems, what do you think about this? It's like saying a country ban VPNs where as you can bypass any country's FireWall.

This ban is general in nature and there are consequences for us banning it, but there are loopholes that can be taken for those who like crypto, including the Chinese state which strictly prohibits crypto.

Banning crypto is no more effective on crypto itself, it's now more like a pure joke, I would still like to see the U.S embrace crypto more than China, just my own answer to my question, what about you?

In my opinion America is not against the concept of crypto, but they are trying to limit some infrastructure for crypto use. For example, regulating the exchange (exchange), taxes imposed and also the highly developed technology industry there. My knowledge of America may be very limited and my understanding may be inaccurate if I am not up to date.

[fadhilz123]

I don't think it will be unstoppable, even though the government in certain countries continues to ban its people and of course at the same time crypto continues to be outperformed by other countries, so the ban will cancel itself. and this has happened in several countries including in my country.
I think the form of the ban is because the government itself doesn't understand the use of crypto.

Maybe besides not understanding how the government uses crypto itself, the rules from the country itself can also be a factor in this so that the government requires several revisions to the rules if it wants to make an agreement on crypto. I'd love to see countries like El Salvador and the Central African Republic that have agreed and adopted Bitcoin that can be used to pay for anything there, but somehow the governments of other countries don't see these two countries as very accurate examples at this point in terms of crypto.

[BIT-BENDER]

Well truth be told both china and the US are both great users of crypto-currency regardless of the stand of their government on it, China has the largest amount of miners in the world and has good influence on crypto-currency.

The issue is that it’s hard to ban something that’s it’s decentralized you hardly have any control over it that’s why any ban placed on Crypto-currency usually fails.

[DaNNy001]

I think this whole banning of crypto nonsense is actually just a technique for the government to actually make their stand on the clear fact that they can't seem to control this decentralized technology that is so wonderful and the decentralized nature of course scares them so the alternative is to get rid of what you can't control but this move of thiers actually only spams the air on Bitcoin adoption to the next level by the masess. Like every other country the USA is trying to make a way to the acceptance of bitcoin but same time still looking for a way to control the technology but the latter is the case with China.

[Gyfts]

Banning crypto is no more effective on crypto itself, it's now more like a pure joke, I would still like to see the U.S embrace crypto more than China, just my own answer to my question, what about you?

This is a low bar because China has a soft "ban" on crypto currency. I have yet to see any strict enforcement or fines being levied against crypto users, but it's not as if China is welcoming of crypto. Anything that isn't overt government ban is more embracement of crypto than what China currently has.

The Biden administration are planning regulations on crypto and it would not surprise me if they introduce CBDC's after the 2024 election if he wins. They're already trying to roll out the regulatory framework that would allow for CBDC's to displace Bitcoin. Don't rely on the goverment to embrace crypto.

[Hamphser]

Which country between these two would you rather see welcoming crypto and fully embracing Bitcoin? China? The United States?

I read an article that says that upon the ban of Cryptocurrencies in China over 30 million Chinese are using Crypto in the country.

At this point in Bitcoin and crypto life, Ban is no more an issue it seems, what do you think about this? It's like saying a country ban VPNs where as you can bypass any country's FireWall.

Banning crypto is no more effective on crypto itself, it's now more like a pure joke, I would still like to see the U.S embrace crypto more than China, just my own answer to my question, what about you?

Wayback it is something that getting feared by the community on seeing bans on some countries whom do decide that they would really be making out some blocks about BItcoin or entire crypto space but we know

that later on with these decisions would really be turning out to be that revoked or would really be reconsidered once again which means that it isnt something that a serious thing that we should mind off.
Hence, no matter how hard they would ban it, there's no way that it could be stopped on what are the things that supposed to be achieved and this is the beauty if the community does really have that solid support.
Banning or any fuds that been generated in the market around seems to be really a joke because as long the community is really that solidly supportive then there's no way on taking down this market.

[Cookdata]

Which country between these two would you rather see welcoming crypto and fully embracing Bitcoin? China? The United States?

I read an article that says that upon the ban of Cryptocurrencies in China over 30 million Chinese are using Crypto in the country.

At this point in Bitcoin and crypto life, Ban is no more an issue it seems, what do you think about this? It's like saying a country ban VPNs where as you can bypass any country's FireWall.

Banning crypto is no more effective on crypto itself, it's now more like a pure joke, I would still like to see the U.S embrace crypto more than China, just my own answer to my question, what about you?

Comparing a Bitcoin ban and a VPN ban is not appropriate as they are fundamentally different. To clarify, when a country bans VPNs, you can still use them on your phone, but doing so would be considered illegal. If caught, you may face fines or even legal charges. However, it is possible to keep your VPN usage hidden since you are the only one using it.

On the other hand, if your country prohibits the use of Bitcoin, you can still hold onto it, but you will not have the freedom to use it as you wish. For example, converting it to your local currency may be difficult. This restriction means that you would have limited options for using your Bitcoin.

[carlfebz2]

Which country between these two would you rather see welcoming crypto and fully embracing Bitcoin? China? The United States?

I read an article that says that upon the ban of Cryptocurrencies in China over 30 million Chinese are using Crypto in the country.

At this point in Bitcoin and crypto life, Ban is no more an issue it seems, what do you think about this? It's like saying a country ban VPNs where as you can bypass any country's FireWall.

Banning crypto is no more effective on crypto itself, it's now more like a pure joke, I would still like to see the U.S embrace crypto more than China, just my own answer to my question, what about you?

Wayback it is something that getting feared by the community on seeing bans on some countries whom do decide that they would really be making out some blocks about BItcoin or entire crypto space but we know

that later on with these decisions would really be turning out to be that revoked or would really be reconsidered once again which means that it isnt something that a serious thing that we should mind off.
Hence, no matter how hard they would ban it, there's no way that it could be stopped on what are the things that supposed to be achieved and this is the beauty if the community does really have that solid support.
Banning or any fuds that been generated in the market around seems to be really a joke because as long the community is really that solidly supportive then there's no way on taking down this market.

This is true! I remember up the year where the news been stating about China is banning out Bitcoin and mining things which it did really make out that negative impact in overall market condition which the price
had gone come down and the rest of the news are pertaning on other places too which giving out on the same decisions.Until the time we've seen some changes where its like on what happen on that El Salvador
event which it did make Bitcoin as their main legal tender.There's soo much happening within this market and you should really make yourself that emotionally stable and wont be
easily get affected whenever you do face up these sentiments or news.

[Argoo]

Do not underestimate the ability of states to regulate and ban the circulation of cryptocurrencies. In China, as far as I know, the ban on the use of cryptocurrencies is not formalized by the regulations of the government or the legislature. It was at the level of the Central Bank of China - the People's Bank of China, and this is not the same thing. Therefore, where the banking system cannot control the situation with cryptocurrency, the Chinese are relatively easy to bypass such a ban.
As long as the G20 countries adhere to the previous decision that cryptocurrencies do not pose a threat to global financial stability, there is no need to fear serious bans on cryptocurrencies.

[jrrsparkles]

Which country between these two would you rather see welcoming crypto and fully embracing Bitcoin? China? The United States?

I read an article that says that upon the ban of Cryptocurrencies in China over 30 million Chinese are using Crypto in the country.

At this point in Bitcoin and crypto life, Ban is no more an issue it seems, what do you think about this? It's like saying a country ban VPNs where as you can bypass any country's FireWall.

Banning crypto is no more effective on crypto itself, it's now more like a pure joke, I would still like to see the U.S embrace crypto more than China, just my own answer to my question, what about you?

China and USA both are having different reasons to restrict the use of cryptocurrency, let's take China they never want to give such thing called decentralisation even in their current technically evolved era they only allowed wechat for paying via QR codes and any other apps are banned so basically they want complete control and tracking history. Whereas USA is different and more democratic so suppression will not work their so the government is trying to generate as much as revenue from they can.

[nimogsm]

I think all the leading countries will soon find a compromise that will satisfy everyone. I am sure that the heads of state will control the industry so as not to harm their financial system and later there will be integration in the role of conventional payments. A total ban is not a solution, it's just not a desire to understand the new technology which is of interest to people.

[Issa56]

Which country between these two would you rather see welcoming crypto and fully embracing Bitcoin? China? The United States?

I read an article that says that upon the ban of Cryptocurrencies in China over 30 million Chinese are using Crypto in the country.

At this point in Bitcoin and crypto life, Ban is no more an issue it seems, what do you think about this? It's like saying a country ban VPNs where as you can bypass any country's FireWall.

Banning crypto is no more effective on crypto itself, it's now more like a pure joke, I would still like to see the U.S embrace crypto more than China, just my own answer to my question, what about you?

It's kind of funny to me when I hear about countries banning bitcoin, those countries are just disturbing themselves, because am sure their citizens will keep on using bitcoin either legal or illegal way, since they believe what they are doing is not bad, government is just fighting for their own selfish interest.

Their was a time the central bank of my country was banning accounts linked to crypto transactions, they wasted their time and later free everyone, now they don't really care anymore. I was suprised that bitcoin got more awareness in my country during that period of time, everyone wanted to know what bitcoin was all about and why banks where blocking their customers accounts.

[naira]

I think all the leading countries will soon find a compromise that will satisfy everyone. I am sure that the heads of state will control the industry so as not to harm their financial system and later there will be integration in the role of conventional payments. A total ban is not a solution, it's just not a desire to understand the new technology which is of interest to people.

The point line is still back to the benefits of incoming financial control. And when the government cannot provide other alternatives or cannot be affiliated with the centralized exchange, then the flow of incoming and outgoing funds still cannot be fully controlled. Except those who are willing to agree to KYC/AML. The banking system will support its disapproval of costly crypto adoption.

[Myleschetty]

Yes, banning decentralized cryptocurrency is a pure joke because there's no way it can be totally executed since it is something that's out of the government's control in the first place. What I see in all this ban is that the government only blocks the means of them growing their country's economy and it will be much better if they embrace crypto.

[sana54210]

China and USA both are having different reasons to restrict the use of cryptocurrency, let's take China they never want to give such thing called decentralisation even in their current technically evolved era they only allowed wechat for paying via QR codes and any other apps are banned so basically they want complete control and tracking history. Whereas USA is different and more democratic so suppression will not work their so the government is trying to generate as much as revenue from they can.

Trying to generate as much income from crypto as you can is a smart approach to it. I mean think about being able to tax people automatically for each trade, and then being able to store that tax in crypto that you took from people. That means you are going to be so rich as a government, the treasury will be filled with crypto, mainly bitcoin but other stuff as well and you would be holding that since nations do not need cash quickly, and they will be able to use that as a leverage power.

Like how any government holding gold means something, like they can back that fiat with gold, this would be same but instead of gold we would have bitcoin instead. I personally hope that every single nation moves to something like that for our future.