Post
Topic
Board Bitcoin Discussion
Re: Bitcoin ban, mission impossible
by
wahyu wida
on 20/08/2021, 02:25:28 UTC
If you have access to the Internet and a Bitcoin wallet, you can invest in buying Bitcoin.
But you need fiat to buy Bitcoin, this is part where government could interfere people from buy/sell Bitcoin.
I agree with you. To deposit and withdraw our Bitcoin on exchanges, we need fiats and bank services. If the government bans it, we will have difficulties in depositing and withdraw on the exchanges. Although we can get Bitcoin from bounties and trade it on exchanges, there should be time to convert Bitcoin to fiats. So, actually, we also need the government to allow Bitcoin investment.


In some way, we still do need the government in this picture. Just look at how we convert our btc to fiat, these local crypto exchanges are under the jurisdiction of their respective Central Banks. Unless, you will cash out via p2p but most services available are also asking for kyc documents. No matter what, government will play a role in this crypto adoption, we can't evade them in this scenario.
In fact, the government is the holder of an important role in the case of bitcoin, where any rules issued by the government must be carried out. bitcoin is currently able to develop because the government does not prohibit it from being traded, so the main bitcoin function has not been achieved, but its development is very rapid in the world of investment and trade