Government's actions against crypto

[God bless u]

Yeah some countries arround the world want to block cryptocurrency in thier respective countries and we don't know why they do that as we all know that cryptocurrency is one of the best investing platform, maybe those countries don't want their people engage in crypto cause they think that once it will happen then thier people will go for investment rather than working from then with a minimum wages. Just an opinion we really not know what's the main reason.

In most of the countries cryptocurrency is not accepted yet but those countries which show no restrictions towards cryptocurrency will not show any restrictions in my opinion because they realized that how worthy it is. No one can deny the importance of cryptocurrency and the financial system of most of the individuals become good with the help of crypto investment.

Actually some country also banned crypto because they know the fact that people move towards money making ways so they will move away from other jobs which is important for country's prosperity. There is a hope that eventually every country will accept bitcoin investment as there is job limitation in each country and providing job to every person is not feasible.

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[DaNNy001]

I think government actually do all this sometimes for selfish reason, I say this because most government feel they can't control and regulate this coins they tend to put a ban to it and lead their citizens to the use of their controllable fiat currency.  Cryptocurrency especially some  coins that have gained reputable like Bitcoin will be hard to stop even by the government themselves because when it comes to painting with scam view, people still tend to use it because if the consistency and reliability of it over the recent years and this view of Bitcoin covers every other cryptocurrency out there.

You are absolutely correct Mr DaNNy001 on this, I think reasons for government having this negative behavior towards Bitcoin is because of their selfish reasons. You know due to the authenticity of Bitcoin  and the ability to track wallet address in the blockchain explorer i think, it tend to poss treat to the government as most of them engage in fraudulent activities. Don't get me wrong, I know what I am saying, in the year 2018 we were told a snake crawled into jamb office and allegedly swallowed 36million naira, just imaging the rubbish. What do they take us for, a fool? I believe this is a clear evidence enough to prove that I am not saying bullshit, I am fucking tired of the system and how they have denied us the ability to freely make Bitcoin official in the country.

Ah! I think you are talking about the story of the great serpent that actually swallow money, it's now become a famous folktale among citizens of the nation but I think the view to which am pointing at when I made reference to the government being stingy is that the fact that with cryptocurrency the challenge of third party involvement is cancelled out and people will no longer rely on the CBN for their income regulation of which posses a treat to the system because the government cut all sort of taxes and manover the rate of citizen income.

[abel1337]

Yeah some countries arround the world want to block cryptocurrency in thier respective countries and we don't know why they do that as we all know that cryptocurrency is one of the best investing platform, maybe those countries don't want their people engage in crypto cause they think that once it will happen then thier people will go for investment rather than working from then with a minimum wages. Just an opinion we really not know what's the main reason.

In most of the countries cryptocurrency is not accepted yet but those countries which show no restrictions towards cryptocurrency will not show any restrictions in my opinion because they realized that how worthy it is. No one can deny the importance of cryptocurrency and the financial system of most of the individuals become good with the help of crypto investment.

Actually some country also banned crypto because they know the fact that people move towards money making ways so they will move away from other jobs which is important for country's prosperity. There is a hope that eventually every country will accept bitcoin investment as there is job limitation in each country and providing job to every person is not feasible.

My country has no statement yet if they will legalize cryptocurrency formally in my country or will they ban it, as of now my country citizen is currently using cryptocurrency without any restrictions from the government. I like it that way given that having it legally recognized by my country means we crypto users can suffer high taxes and regulations for the sake of legality. It is also absolutely not good if cryptocurrency is banned because there will be so many restrictions and you could be charged if you caught using cryptocurrency.  I think it is better this way where it is not recognized. We won't know what might be the judgement in the future if the government want to fully capitalize cryptocurrency by collecting tax and regulation.

[Makus]

Ah! I think you are talking about the story of the great serpent that actually swallow money, it's now become a famous folktale among citizens of the nation but I think the view to which am pointing at when I made reference to the government being stingy is that the fact that with cryptocurrency the challenge of third party involvement is cancelled out and people will no longer rely on the CBN for their income regulation of which posses a treat to the system because the government cut all sort of taxes and manover the rate of citizen income.

Yes I am, and I think that is the dumbest story I had heard so far in my life coming from the government official, its so childish and stupid thinking anyone would buy that story, I don't know what they take we the citizens for. Any way let bygone be bygones, even if crypto was accepted in a country by the government, they could still choose to pay their workers using their fiat currency, and from there their taxes can still be extracted. Besides, not every one is into crypto so its not like the use of their fiat currency will depreciate to zero, they can still make some constitution that all government worker should be paid with fiat, then what happens there after is non of their business. I just hope they'll remove the restriction and see how their economy will improve.

[Bushdark]

Ah! I think you are talking about the story of the great serpent that actually swallow money, it's now become a famous folktale among citizens of the nation but I think the view to which am pointing at when I made reference to the government being stingy is that the fact that with cryptocurrency the challenge of third party involvement is cancelled out and people will no longer rely on the CBN for their income regulation of which posses a treat to the system because the government cut all sort of taxes and manover the rate of citizen income.

Yes I am, and I think that is the dumbest story I had heard so far in my life coming from the government official, its so childish and stupid thinking anyone would buy that story, I don't know what they take we the citizens for. Any way let bygone be bygones, even if crypto was accepted in a country by the government, they could still choose to pay their workers using their fiat currency, and from there their taxes can still be extracted. Besides, not every one is into crypto so its not like the use of their fiat currency will depreciate to zero, they can still make some constitution that all government worker should be paid with fiat, then what happens there after is non of their business. I just hope they'll remove the restriction and see how their economy will improve.

The government can only create laws to halt people especially traders and investors from investing in the crypto market but that would never stop the flow. We still have the option to go for what we want and how we want it. The government might be pushing for penalty for people that would break a particular law that is restricting people from making any form of investment with severe sanctions but that would never stop us. Cryptocurrency is an investment of choice and it is mostly decentralized without the permission of any government officials to determine when we are buying or selling cryptocurrency.

[Fredomago]

Ah! I think you are talking about the story of the great serpent that actually swallow money, it's now become a famous folktale among citizens of the nation but I think the view to which am pointing at when I made reference to the government being stingy is that the fact that with cryptocurrency the challenge of third party involvement is cancelled out and people will no longer rely on the CBN for their income regulation of which posses a treat to the system because the government cut all sort of taxes and manover the rate of citizen income.

Yes I am, and I think that is the dumbest story I had heard so far in my life coming from the government official, its so childish and stupid thinking anyone would buy that story, I don't know what they take we the citizens for. Any way let bygone be bygones, even if crypto was accepted in a country by the government, they could still choose to pay their workers using their fiat currency, and from there their taxes can still be extracted. Besides, not every one is into crypto so its not like the use of their fiat currency will depreciate to zero, they can still make some constitution that all government worker should be paid with fiat, then what happens there after is non of their business. I just hope they'll remove the restriction and see how their economy will improve.

The government can only create laws to halt people especially traders and investors from investing in the crypto market but that would never stop the flow. We still have the option to go for what we want and how we want it. The government might be pushing for penalty for people that would break a particular law that is restricting people from making any form of investment with severe sanctions but that would never stop us. Cryptocurrency is an investment of choice and it is mostly decentralized without the permission of any government officials to determine when we are buying or selling cryptocurrency.

It was developed outside the government radar and it grows up to now, maybe yes, government can implement rules and regulation but the continuation will continue to depends from how people will support the project, I also agree that due to the decentralization this venue of investment will continue and will grow for more.

Whatever the government will try to avoid the investors and supproters will always find ways to continue.

[Makus]

The government can only create laws to halt people especially traders and investors from investing in the crypto market but that would never stop the flow. We still have the option to go for what we want and how we want it. The government might be pushing for penalty for people that would break a particular law that is restricting people from making any form of investment with severe sanctions but that would never stop us. Cryptocurrency is an investment of choice and it is mostly decentralized without the permission of any government officials to determine when we are buying or selling cryptocurrency.

It was developed outside the government radar and it grows up to now, maybe yes, government can implement rules and regulation but the continuation will continue to depends from how people will support the project, I also agree that due to the decentralization this venue of investment will continue and will grow for more.

Whatever the government will try to avoid the investors and supproters will always find ways to continue.

For sure, no matter how hard they try Bitcoin accumulation and its usage will keep on increasing day by day until dey have nothing to fight with. That is, Bitcoin will became too powerful for dem to even restrict their citizens from adopting it. Because I believe that a time will come were if your economy does not accept Bitcoin you'll bee seen as a less developed and ignorant nation. Currently bitcoin and other cryptocurrencies are on restriction in my country but that does not stop me from accumulating bitcoin or increasing my crypto portfolio, they can restrict us but they can not stop us.

[Mame89]

For sure, no matter how hard they try Bitcoin accumulation and its usage will keep on increasing day by day until dey have nothing to fight with. That is, Bitcoin will became too powerful for dem to even restrict their citizens from adopting it. Because I believe that a time will come were if your economy does not accept Bitcoin you'll bee seen as a less developed and ignorant nation. Currently bitcoin and other cryptocurrencies are on restriction in my country but that does not stop me from accumulating bitcoin or increasing my crypto portfolio, they can restrict us but they can not stop us.

It is very clear that a country is struggling to face the development of decentralized blockchain technology, they are trying to avoid using blockchain technology with a centralized closed system by stopping all online businesses that use decentralized technology. However, fighting it will be in vain for the country, because the development of bitcoin is too strong, there are many ways to get it and the country cannot stop it.

Continuing to collect bitcoins in a portfolio is a smart choice because bitcoin will grow bigger in the future and I think gradually the country will adopt bitcoin technology too in the future. Due to the increase in its use, it is increasing day by day.

[AnonBitCoiner]

For sure, no matter how hard they try Bitcoin accumulation and its usage will keep on increasing day by day until dey have nothing to fight with. That is, Bitcoin will became too powerful for dem to even restrict their citizens from adopting it. Because I believe that a time will come were if your economy does not accept Bitcoin you'll bee seen as a less developed and ignorant nation. Currently bitcoin and other cryptocurrencies are on restriction in my country but that does not stop me from accumulating bitcoin or increasing my crypto portfolio, they can restrict us but they can not stop us.

accumulation of bitcoin is a good option because one day government will surely permit its investment and transactions. As quick bitcoin is becoming acceptable so it seems that in near future every country will remove restrictions which they have settled to not use bitcoin. Decentralized technology is the main characteristics of bitcoin so may be this is the reason that bitcoin is not accepted by government of a country but its not a harmful feature but there is a benefit but if one understands this fact.

Bitcoin is going more stronger so if one country see the success of other countries then there will be a possibility that every country will soon accept bitcoin. If you are still buying more and more bitcoin so it is possible that in future you will be able to take benefit from it as Bull run occurs after every four years. Restrictions will not persists always so everyone should accumulate, once bitcoin attain maximum value then there will be contrition for those who did not accumulate on time.

[Makus]

Bitcoin is going more stronger so if one country see the success of other countries then there will be a possibility that every country will soon accept bitcoin. If you are still buying more and more bitcoin so it is possible that in future you will be able to take benefit from it as Bull run occurs after every four years. Restrictions will not persists always so everyone should accumulate, once bitcoin attain maximum value then there will be contrition for those who did not accumulate on time.

Yes I agree with you, El Salvador being the first country to accept Bitcoin as a legal tender, its success and growth will influence the decision of other countries to join in this Wonderful network, we just need to give dem some time and before you'll know it boom, they've removed the restrictions. The decision of accumulating more bitcoin to my portfolio will never decrease but rather I'll grow to a more aggressive accumulation as time progresses. My advise to holders is, let's keep the good work going and before you'll know, our government would have no other choice than to accept.

[Publictalk792]

Yes I agree with you, El Salvador being the first country to accept Bitcoin as a legal tender, its success and growth will influence the decision of other countries to join in this Wonderful network, we just need to give dem some time and before you'll know it boom, they've removed the restrictions. The decision of accumulating more bitcoin to my portfolio will never decrease but rather I'll grow to a more aggressive accumulation as time progresses. My advise to holders is, let's keep the good work going and before you'll know, our government would have no other choice than to accept.

I understand that you are excited about El Salvador accepting Bitcoin as money. This is a big deal for people who use cryptocurrency and it is showing that other countries will soon accept it as legal tender.
It may take sometime for other governments to make this decision because they want to see how it goes in El Salvador first. But if it works out well more countries may start using Bitcoin too.

It is grea decision t that you want to buy more Bitcoin for yourself. Just stay updated on what is happening in the cryptocurrency world and make your choices based on your own research and according to your risk tolerance.
We don't know how governments will react to popularity of cryptocurrencies. But it is good to see that more people are accepting them. I am also holding a little amount of Bitcoin and I hope soon it will go to moon.

[Abiky]

The government can only create laws to halt people especially traders and investors from investing in the crypto market but that would never stop the flow. We still have the option to go for what we want and how we want it. The government might be pushing for penalty for people that would break a particular law that is restricting people from making any form of investment with severe sanctions but that would never stop us. Cryptocurrency is an investment of choice and it is mostly decentralized without the permission of any government officials to determine when we are buying or selling cryptocurrency.

You'd only need permission from the government to buy/sell crypto through a centralized exchange. But rules don't apply to decentralized exchanges and/or services. After all, governments can't enforce regulations on them. If they find themselves "deadlocked", they will make crypto "illegal" for mainstream use. Some people will secretly use crypto to enjoy true financial freedom. But the rest will be afraid of getting into something that's outlawed by the government. That's the way it works.

All that matters is that crypto stays decentralized so that it could stand the test of time. With decentralization, governments will be unable to stop the revolution. Hopefully, crypto will live alongside CBDCs for generations. Just my opinion

[Kelward]

This issues isn't peculiar with the US alone, even in Africa, some countries have brought up issues against crypto currency which is mostly based on regulatory grounds. These countries wants to be fully involved in regulations of crypto currencies because some of them are scared it could be used for laundry and similar crimes, this has further led to some crypto company relocating to other countries where the policies are mild on them

It's true that issues of government being anti crypto is not peculiar to USA, in fact I feel that most countries feel  threatened by the growing adoption of bitcoin and other cryptocurrencies, to the extent that they will bring unfriendly regulations and some will even slam total ban to frustrate the adoption. I guess that they are afraid of the growing popularity of bitcoin, that has no central authority unlike fiat that is the identity of their countries. The decentralized cryptocurrencies have come to change the narrative of financial transactions and there's nothing any country can do about it.

We crypto users in Nigeria, are facing our own issues here, where our central bank, have prohibited banks to facilitate crypto transactions. Thanks to p2p and exchanges, we're able to do our crypto transactions, although I here that my government is working on regulating crypto transactions, we're still waiting to see it goes.

[gabbie2010]

For sure, no matter how hard they try Bitcoin accumulation and its usage will keep on increasing day by day until dey have nothing to fight with. That is, Bitcoin will became too powerful for dem to even restrict their citizens from adopting it. Because I believe that a time will come were if your economy does not accept Bitcoin you'll bee seen as a less developed and ignorant nation. Currently bitcoin and other cryptocurrencies are on restriction in my country but that does not stop me from accumulating bitcoin or increasing my crypto portfolio, they can restrict us but they can not stop us.

It is very clear that a country is struggling to face the development of decentralized blockchain technology, they are trying to avoid using blockchain technology with a centralized closed system by stopping all online businesses that use decentralized technology. However, fighting it will be in vain for the country, because the development of bitcoin is too strong, there are many ways to get it and the country cannot stop it.

Continuing to collect bitcoins in a portfolio is a smart choice because bitcoin will grow bigger in the future and I think gradually the country will adopt bitcoin technology too in the future. Due to the increase in its use, it is increasing day by day.

It's a pity that countries that suppose to harness the potential of Blockchain technology to solve many societal problems are unfortunately opposed to adoption of Bitcoin many of these countries are opposed to Blockchain which is the core feature of Bitcoin because they cannot control it or may affect their monetary policies due to it decentralization, yet wouldn't look to the other useful features of it, I am aware of solutions to chain supply, voting etc can be solve using Blockchain, however despite all those restrictions, ban clamping down yet Bitcoin has come to stay because there are various methods of evading any government restrictions of it for it users.

[Romeotom]

Governments do more research on crypto usage and especially in countries where crypto is listed as illegal. But people of almost all countries are now indulging in crypto with secrecy which is completely impossible to hack. As far as I know in some countries using crypto is considered a very serious crime and has complicated laws in this regard. The governments of those countries are thinking that crypto is the exchange of one country's currency to another which is secret and unknown to the government.

[milewilda]

For sure, no matter how hard they try Bitcoin accumulation and its usage will keep on increasing day by day until dey have nothing to fight with. That is, Bitcoin will became too powerful for dem to even restrict their citizens from adopting it. Because I believe that a time will come were if your economy does not accept Bitcoin you'll bee seen as a less developed and ignorant nation. Currently bitcoin and other cryptocurrencies are on restriction in my country but that does not stop me from accumulating bitcoin or increasing my crypto portfolio, they can restrict us but they can not stop us.

It is very clear that a country is struggling to face the development of decentralized blockchain technology, they are trying to avoid using blockchain technology with a centralized closed system by stopping all online businesses that use decentralized technology. However, fighting it will be in vain for the country, because the development of bitcoin is too strong, there are many ways to get it and the country cannot stop it.

Continuing to collect bitcoins in a portfolio is a smart choice because bitcoin will grow bigger in the future and I think gradually the country will adopt bitcoin technology too in the future. Due to the increase in its use, it is increasing day by day.

It's a pity that countries that suppose to harness the potential of Blockchain technology to solve many societal problems are unfortunately opposed to adoption of Bitcoin many of these countries are opposed to Blockchain which is the core feature of Bitcoin because they cannot control it or may affect their monetary policies due to it decentralization, yet wouldn't look to the other useful features of it, I am aware of solutions to chain supply, voting etc can be solve using Blockchain, however despite all those restrictions, ban clamping down yet Bitcoin has come to stay because there are various methods of evading any government restrictions of it for it users.

You shouldnt really be shocked about because anything which is really that been centralization then it would really be always mean that you are really  that going against with the current government system.
They have been able to do such thing in the past in speaking about bad or false information for them the people to believe. Yes, it could really be that effective but doesnt mean that majority of people
in the community would really be that easily to get hooked on what are the things that they've been planning. This is why as an individual then it would really be that completely into your choice
on what are the things that you would really be needing to do considering that crypto would really giving out that kind of chances and opportunities for you to deal up with it.
If it turns out that it is really that prohibited or not allowed but honestly there's no way that they could really be able to stop someone to engage with it.

[Abiky]

Governments do more research on crypto usage and especially in countries where crypto is listed as illegal. But people of almost all countries are now indulging in crypto with secrecy which is completely impossible to hack. As far as I know in some countries using crypto is considered a very serious crime and has complicated laws in this regard. The governments of those countries are thinking that crypto is the exchange of one country's currency to another which is secret and unknown to the government.

It's no secret that crypto is being used by some governments to avoid sanctions. I believe that's the main reason why the US government is aggressive against crypto/Blockchain tech. There's no other explanation for this (aside from putting crypto under control). What matters is that crypto stays decentralized so it could render governments' efforts useless. They will control centralized exchanges, but they will never control crypto itself.

DEXs, non-custodial mixers, and other decentralized services will make it difficult (if not impossible) for governments to enforce regulations. The revolution simply can't be stopped. Some governments already recognized this, as they've embraced the revolution with open arms. "If you can't beat it, join it". Hopefully, crypto will be able to last for generations.

[Ben Barubal]

The US government and the cryptocurrency market are having a lot of ups and downs, and it seems like they're headed towards a very important conflict. This conflict will determine the fate of many people and companies involved in cryptocurrency. They might have to shut down or move to a different country.

  Other governments have been doing that for a long time with other cryptocurrencies. Specifically in the US, like the SEC, they can only shut down altcoins; even the other exchanges that are under CEX, like Coinbase, seem to have moved to another country to put their main office and are no longer in the US.

  The US government really won't stop until they control cryptographic assets. Because the US government feels that they are invincible. But the truth is, I wish they could control all the cryptos, but why can't they do it?

[Anguwa]

Governments do more research on crypto usage and especially in countries where crypto is listed as illegal. But people of almost all countries are now indulging in crypto with secrecy which is completely impossible to hack. As far as I know in some countries using crypto is considered a very serious crime and has complicated laws in this regard. The governments of those countries are thinking that crypto is the exchange of one country's currency to another which is secret and unknown to the government.

Governments are always selfish, they only agree to what will earn them extra money or what they can control with their power. Bitcoin and cryptocurrencies can never be controlled by governments in any way because of blockchain transparency, and we know that government are always after ways to loot extra funds through unknown ways and blockchain will make it public, that’s why they don’t like Bitcoin and crypto.

[Bushdark]

Ah! I think you are talking about the story of the great serpent that actually swallow money, it's now become a famous folktale among citizens of the nation but I think the view to which am pointing at when I made reference to the government being stingy is that the fact that with cryptocurrency the challenge of third party involvement is cancelled out and people will no longer rely on the CBN for their income regulation of which posses a treat to the system because the government cut all sort of taxes and manover the rate of citizen income.

Yes I am, and I think that is the dumbest story I had heard so far in my life coming from the government official, its so childish and stupid thinking anyone would buy that story, I don't know what they take we the citizens for. Any way let bygone be bygones, even if crypto was accepted in a country by the government, they could still choose to pay their workers using their fiat currency, and from there their taxes can still be extracted. Besides, not every one is into crypto so its not like the use of their fiat currency will depreciate to zero, they can still make some constitution that all government worker should be paid with fiat, then what happens there after is non of their business. I just hope they'll remove the restriction and see how their economy will improve.

The funny part about this whole matter is that even the government officials are also holding quantities of cryptocurrencies in there wallet. We should not be deceived by what we hear and what people tend to talk about the cryptocurrency.
We can keep investing in Bitcoin and other altcoins but we should not be deceived by the government trying to make us to keep all our funds  in fiat so that the economy is not going to loses it weighs and value. We need to make decisions that would aid us to be a good and profitable investors.