I'm fed up with all this cryptocurrency thing.
First off, I make tremendous loses due to being a newbie in this market. After a second thought (and accepting the heavy loses incurred) I decided to try again and re-invest in bitcoin, only to be told this few moments ago.
I will not risking HODLING bitcoins if they will shut down the first (and only) cryptocurrency exchange in Kuwait. As such I decided to play it safe, incur further loses, and just sold all my bitcoins and getting out of this business for good.
After all, why should I HODL my bitcoins (1.25 this time) when I can't exchange them for cash when I need them? More importantly, how will bitcoin appreciate when exchanges will close in other parts of the world?
I wish I was never introduced to Bitcoin.
Any ideas on what I should do with my Ledger Nano X now?
First off, I make tremendous loses due to being a newbie in this market. After a second thought (and accepting the heavy loses incurred) I decided to try again and re-invest in bitcoin, only to be told this few moments ago.
I will not risking HODLING bitcoins if they will shut down the first (and only) cryptocurrency exchange in Kuwait. As such I decided to play it safe, incur further loses, and just sold all my bitcoins and getting out of this business for good.
After all, why should I HODL my bitcoins (1.25 this time) when I can't exchange them for cash when I need them? More importantly, how will bitcoin appreciate when exchanges will close in other parts of the world?
I wish I was never introduced to Bitcoin.
Any ideas on what I should do with my Ledger Nano X now?
They do it becouse your kuwait dinar will lose value like it happens now all around the world.
So Bitcoin has more value then your own currency first They ban cryptocurrency in your Country then the next step is Block swift payments becouse no eur or usd holders will not want kuwait currency They will Come for cheap resources and cheap Land in kuwait Once the currency is de-valued.
Bingo! But you miss something. The Kuwaiti Dinar is the strongest currency on earth (has been for 20+ years, so de-valuing the KWD will be tough) which is why I'm in favor of my government's choice of banning cryptocurrencies. I don't think swift payments has any effect on our currency, as I have been making swift payments for a while now
Also, similar to Singapore Kuwait is a small country, so getting a "cheap land" will be sort of...... impossible for businesses, even if the KWD de-values
What about if there was a rebellious Kuwaiti who wants to buy heroine sent safely to his home from the friendly dark market vendor? Or if there was a Kuwaiti who wants to gamble in an online casino?
I believe Kuwaiti laws are very strict on both gambling and drugs. There might be some ordinary Kuwaitis who want to live a more liberating life, not just the elite.