Quote from: wxa7115 on February 17, 2022, 06:01:12 PM

Quote from: Westant on February 15, 2022, 11:41:57 PM

Quote from: FanEagle on February 14, 2022, 11:38:08 PM

This government, have they really taken time to study cryptocurrency and how it works? Do they know that even if they should ban crypto currency in the country that there will still be people who are making use of these crypto currencies and be able to trade them despite whatever ban they might have placed on it?

As for cryptocurrency mining, it is quite possible that the government can stop companies from mining cryptocurrency, because it is quite easy to spot the crypto miners wherever they might be. So, it is quite possible for them to stop it, which is one way I think that they can do something that will affect Bitcoin.

And this is because Bitcoin these days is not something that you can just mine from your home with your computer. This time around it requires a big mining farm and all that. I think if it was as it used to be before, then it would be even more difficult for them to stop mining. It is good that Russia didn’t ban it, but rather accepted it.

It is the big mistake of the countries who think that they will ban it and the use of it will be erased from the country while in actual they are losing themselves as people can use it anonymously and people will use it because of the benefits to them and the government will not be able to take the taxes. Those who study it on time found it to better is to accept it and those who will study later will regret to lose the taxes collections.

It is widely known that if there is demand then someone is going to make the effort to supply that product, so no ban is ever going to be effective against a product with high demand, now I can understand why for example some dangerous drugs are banned even if there is a high demand for them.

But in the case of bitcoin people are not going to understand why something like this is banned as it damages no one, so the resistance to those bans will be even more fierce, especially if people are making decent money with bitcoin.

But, would it be risky if they will continue using something that is already been illegalized? And what if they will get caught? Are they already prepared to face their consequences? Do not say that crypto is anonymous but its not totally and have not you seen the news that even crypto hackers and thieves do still get caught by the authorities? And take not they are already good at hiding much more to a normal crypto user.

I do not know if the government knows that crypto can bring benefits. They are smart but they might not care with it since cryptos are very different from their own local currencies and they wont depend on crypto to make their country better but they can do it by them self.