There are a few merchants who do accept bitcoins in the country. Retrieved 17 November Convertible Virtual Currency Convertible virtual currency is an unregulated digital currency that can be used as a substitute for real and legally recognized currency.
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Bitcoin is a peer-to-peer digital currency that can be safely and instantly sent to any person in the world. This currency is like electronic moneywhich you can share with friends or use to pay for your purchases. Bitcoin bannev a currency unit of Bitcoin. Physical bitcoins also exist, but, generally, bitcoin is just a number connected to the address. Physical bitcoins are just objects like coins with inbuilt what if bitcoin gets banned. The main article: Satoshi Nakamoto. Satoshi Nakamoto is the name used by the unknown person or persons who developed bitcoin, authored the bitcoin white paper, and created and deployed bitcoin’s original reference implementation.
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Ban or no ban?
By KurianNovember 8, in Gambling Discussion. Reserve Bank of India hints a possible ban on Bitcoin and other cryptocurrencies. As i’m from India i don’t know what to do if they are going to ban local exchanges and all.
Is there anyway i could keep investing on Bitcoin and convert it to US dollars and again convert it to Indian currency? Other idea i heard that send bitcoin to someone in other country and do a wire transfer. Any suggestion or ideas to resolve this problem? I’m in a great confusion. My country has begun to show signs of such a ban. They started to strengthen from the bank. By it will be taxed if it works. Im sure in the future everyone will be using it in real life.
And that will no longer be deniable. You can convert it with trading Like sell to someone for real money into pay pal or other payment service. I came across forums where privately people change currency in any directions. But unfortunately I did not remember the address. Use Google. People turn to them from despair. But judging by the reviews, they do not deceive even give any guarantees. I do not exactly remember. TOR is actually legal in most countries. If one day they’d want to ban TOR They’ll get the thorn of the Anonymous above.
Since Anonymous fights for free speech and equal rights. They’re not just evil hackers like in the myths. I heard they are launching their own cryptocurrency called Lakhsmi. I am really frustrated by RBI regulations, they are really a pain in ass. They first killed the freelancing market by regulations on PayPal and other money service providers, banned FOREX trading on cross currency pairs. Like they don’t want the people to have a hand in the advancing opportunities and always stay behind the world in name of patriotism.
Not sure about this but maybe create an account on a country which it is not banned then transfer it on a dollar account or to Paypal or something similar. That will never happen in real life. It was a news that appeared and went away on forums and so.
So much of fake news and so these days that you cannot trust. Anyway if some country banned bitcoin then you can still use it on TOR — no one can track you. But Indian government what if bitcoin gets banned no fool and they wont do such a thing in future. Even if they do the Indian bitcoin investors will revolt and soon it will be back to normal again remember the Porn ban of India?
Basically, when you use the TOR browser only your browsing is completely anonymous. So, You could also just use a good VPN. This will cover both browsing and any other internet connections. You cant trust vpns too much. Some vpns sell their users ips to NSA. So a combination of both wont hurt. And of course a combination of both won’t hurt.
Yep, NSA found a way. But the method they found requires a lot to achieve their goal. I don’t know exactly how they do it but I read an article about it somewhere on some blog. Banned Bitcoin close one way. You can post now and register later. If you have an account, sign in now to post with your account. Restore formatting. Only 75 emoji are allowed. Display as a link instead.
Clear editor. Upload or insert images from URL. Gambling Discussion. What to do if Bitcoin gets banned in your country? Reply to this topic Start new topic. Recommended Posts. Posted November 8, Share this post Link to post Share on other sites.
For the bannable country, probabily would use VPN. Damn kurian bro i am from India too let’s hope the crypto currency will not get banned. But how to convert it to local currency? Thank you. Posted November 13, Posted November 21, Posted November 25, They are both created to hide your IP. And wow nsa has found a way to track tor users? Amazing how complex setup can be traced. Join the conversation You can post now and register later. Reply to this topic Insert image from URL.
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bitcoin banned countries , bitcoin price ( due to banning), bitcoin , future currency
The Central Bank of Jordan prohibits banks, currency exchanges, financial companies, and payment service companies from dealing in bitcoins or other digital currencies. Classically, a currency must act as a medium of exchange, a unit of account, and a store of value. Although there are indeed technical reasons that make it difficult to shut down Bitcoin, what if bitcoin gets banned are also legal constraints related to a potential bitcoin ban, at least according to Abra CEO Bill Barhydt. Retrieved 2 March Read more on bitcoin. The hearings could generate debilitating uncertainty, but at the same time they would push the conversation even further along the path of regulatory clarity, and the resulting bicoin on limits to federal power, the freedom inherent in code and even an official recognition of the potential of cryptocurrency will impact tech development at all levels.
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