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January 10, 2024, 04:29:46 PM
 #21

im very excited to share about one of my friends condition.
he lives in an asian country where bitcoin is not legal to government.
he invested in bitcoin and he owned a second hand motorbike shop.
now he wants to dealing with crypto for his shop.
in this circumstances what should he do or which step best for him.
expect better suggestion from good people
If Bitcoin is not legalized in his country, then this is a risky deal for him because he might get arrested by any government official for violating the country's law for not using Bitcoin.
He can be using his profit to invest in Bitcoin through the DCA method so that he can save Bitcoin in his wallet for a long time because if he accepts Bitcoin payments, he can lose money sometimes when the market goes' down because the bitcoin market is volatile.

Therefore, I will advise your friend to make bitcoin payments optional and not public to be safe from government harassment since it is not yet legal.

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January 10, 2024, 04:39:27 PM
 #22

If bitcoin is not allowed in his country their is nothing you can do to deal in bitcoin in his business. What he should do is for him to use bitcoin in a way that he is not going to break the laws of his country which he will be punished.  If in the country people are allowed to use exchange he can buy bitcoin and move it to a non custodial wallet for hodling, but since it is an offence to allow bitcoin as means for payment for business,  you don't need to go into it .
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January 10, 2024, 04:48:13 PM
 #23

No one should ever give advice that is against the laws of your country. My advice to you and your friend would always be to respect the laws of the land. If your friend is so interested in crypto then he should go to a country where crypto is legal and many people in that country are involved with it. Or you have to wait until your country declares crypto legal.
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January 10, 2024, 04:50:42 PM
 #24

im very excited to share about one of my friends condition.
he lives in an asian country where bitcoin is not legal to government.
he invested in bitcoin and he owned a second hand motorbike shop.
now he wants to dealing with crypto for his shop.
in this circumstances what should he do or which step best for him.
expect better suggestion from good people
Your friend should not think about accepting Bitcoin as payment until he seek legal practitioner that's knowledgeable about the cryptocurrency stance in the country he resides that's if there chance he will be able to accept it as payment but the chance is slim since Bitcoin is not legal there and he can't accept it as payment he shouldn't force it.

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January 10, 2024, 05:15:35 PM
 #25

im very excited to share about one of my friends condition.
he lives in an asian country where bitcoin is not legal to government.
he invested in bitcoin and he owned a second hand motorbike shop.
now he wants to dealing with crypto for his shop.
in this circumstances what should he do or which step best for him.
expect better suggestion from good people


​In Asian countries where bitcoin transactions are not legal, people are also facing many problems. There are many people like your friend who are investing in Bitcoin even though it is illegal to invest in it.Then is because the government has not yet banned the exchanges in which Bitcoin is being traded. So people are not facing any problem at present. If bitcoin transaction is not legal in your friend's country then how is he thinking of doing bitcoin transaction for bike in the shop? What will he do if the government decides to ban all the exchanges?

When the government declares something illegal then taking it is also against the government's decision, but if someone keeps it as an investment then it is fine, but using Bitcoin to transact in a shop can definitely cause problems for him. So he might change his decision to deal with crypto. Rather, the deal in the shop will be better with the local currency. He can also acquire bitcoins with local currency. If his purpose is to accumulate bitcoins.









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January 10, 2024, 05:58:50 PM
 #26

im very excited to share about one of my friends condition.
he lives in an asian country where bitcoin is not legal to government.
he invested in bitcoin and he owned a second hand motorbike shop.
now he wants to dealing with crypto for his shop.
in this circumstances what should he do or which step best for him.
expect better suggestion from good people

There is no better suggestion I can give than to advise him to be a good law-abiding citizen. I have not been to Asia, so I don't know how serious the law against crypto is being handled there, but if it's so serious that it could cause him harm,it's better he just accept fiat and not bitcoin or cryptocurrency.

But, if the law against crypto is not a serious offense if neglected, you may want to look through my thread (One Month of Accepting Bitcoin for Payment).You will definitely find some good advice that I also took when I started accepting Bitcoin in my business.

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January 10, 2024, 06:02:30 PM
 #27

im very excited to share about one of my friends condition.
he lives in an asian country where bitcoin is not legal to government.
he invested in bitcoin and he owned a second hand motorbike shop.
now he wants to dealing with crypto for his shop.
in this circumstances what should he do or which step best for him.
expect better suggestion from good people
If it's illegal, the best and most obvious advice is that he shouldn't do it. But reality can be trickier, of course. Sometimes, something can be illegal, but not considered a major crime. You don't face prison time, you face an administrative charge, a relatively small fine if you're found guilty. Or maybe, it's only illegal nominally, but the law is never enforced in practice, and tons of people break it calmly all the time because there's a silent understanding in society that it's fine, you won't get in trouble for doing something. So if Bitcoin is nominally illegal, or the penalty isn't serious, someone might be willing to risk it. But if it's seriously illegal, then I think it's not worth it, especially with something as public as a shop.

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January 10, 2024, 06:19:25 PM
Last edit: January 10, 2024, 06:42:03 PM by sokani
 #28

im very excited to share about one of my friends condition.
he lives in an asian country where bitcoin is not legal to government.
he invested in bitcoin and he owned a second hand motorbike shop.
now he wants to dealing with crypto for his shop.
in this circumstances what should he do or which step best for him.
expect better suggestion from good people

If it were just buying and stacking cryptocurrencies, then I'd have encouraged it because the government might some day want to regulate cryptocurrency in the future, thus making it legal in the country or he could get to travel to crypto-friendly nations and spend it. However, since cryptocurrency is not legal in the country, I would kick against accepting it in his business. If he does go ahead, he'd be incuring the wraths of the authorities.
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January 10, 2024, 07:25:19 PM
 #29

im very excited to share about one of my friends condition.
he lives in an asian country where bitcoin is not legal to government.
he invested in bitcoin and he owned a second hand motorbike shop.
now he wants to dealing with crypto for his shop.
in this circumstances what should he do or which step best for him.
expect better suggestion from good people
Bitcoin is not valid in the country where your friend lives. If Bitcoin is not legal in his country then your friend may face many problems if he starts transaction Bitcoin for business. Among many problems, your friend will face administrative trouble and jail fine. So my advice for your friend is not to start bitcoin transaction in his business and if he has much interest and experience in bitcoin investing then he can quietly continue bitcoin investing.

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January 10, 2024, 08:09:20 PM
 #30

im very excited to share about one of my friends condition.
he lives in an asian country where bitcoin is not legal to government.
he invested in bitcoin and he owned a second hand motorbike shop.
now he wants to dealing with crypto for his shop.
in this circumstances what should he do or which step best for him.
expect better suggestion from good people

It will be a bad advise if your friend goes on to deal with bitcoin even when he knew that the government as not legalize the use. In some countries, bitcoin is not legal tender but the government doesn’t stop its people from using the currency since it is at their own peril. If your friends country operates the same way, it will be good to integrate the bitcoin mode of payment as part of his business. But if it is not, it is better to be collecting the payment in fiat and wait for the government to legalize it or can give to you to help him invest in bitcoin if your country allows the use of bitcoin.











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