Re: Countries where Bitcoin is “banned”

India banned bitcoin when they found out government officials were taking bribes in cryptocurrencies.

This is pretty funny, like people never took bribes in India (just like many other places in the world) before bitcoin, right? Roll Eyes

If that is the real reason then politicians are even more stupid than what I thought because that just means remaining behind the rest of the world that will embrace this tecnology.

Quote from: pixie85 on September 05, 2023, 08:50:24 PM

China first banned bitcoin because people were using it to transfer money out of the country, as sending large amounts of money abroad, or leaving China with a lot of cash is prohibited.

Same as above, if that is the reason then it's stupid. Those who want to laundry money and/or make it leave their country will find a way for sure.

Simply because the government cannot find any disadvantages or bad points of bitcoin to blame it on, and they use the excuse of corruption, crime...to blame bitcoin. we all find those reasons ridiculous, but there is still nothing we can do to stop the government from banning bitcoin.

The government has never been stupid. if they are stupid, how can they lead and manage us? but don't believe what they say, I believe they don't want people to hold too much bitcoin, and they are silently accumulating them and waiting for the right time to legalize it.

I think they are stupid because there is no real way to ban bitcoin: you can censure some website but using VPN or other ways you can still buy/sell bitcoin, and of course there is no way they can stop people from making transactions, unless they plan to shut down internet in the whole country, but I don't think it's a smart move. At the same time, because of these bans, they are missing growth opportunities and even the possibility to get money thanks to the capital gain taxes.

As I said, don't believe what they say and the ban will only be temporary until they collect all the bitcoins they need.

You're right, taxes are what they're aiming for and that's why many countries are also starting to legalize bitcoin and tax us. they won't ignore those huge taxes, but they will need to find the right regulations and accumulate enough bitcoin before adopting it. I believe it is inevitable that bitcoin will soon be accepted in all countries, but each country will have different regulations.