Why would governments allow cryptocurrency to exist lmao?

Ban the internet!

Ban asian girls

Governments can ban things like exchanges, businesses that operate under their laws, but they can't ban cryptocurrencies outright. What will happen in the near future is that central banks will start issuing their digital currencies and when decentralised exchanges become mainstream there will be jack shit governments can do to control crypto.

there's 4 countries that have incentive to ban crypto currency

USA - world reserve currency, gives you US dollars for things then prints more us dollars discounting the cost

Saudi Arabia - only sell oil in us dollars receive military protection, gold and armaments from the strongest military to ever walk the earth

Israel - country is dependent on US

China - In line to be the next world reserve fiat currency

every other country would prefer a currency free market where their economies production isn't siphoned through US dollar/bond inflation

>They can.

There are currently only two ways which would only temporarily have an impact on crypto trading. Ban fiat in/outflow and ban crypto exchanges. First can easily be fixed by having a fiat to crypto exchange setup in a country where it's legal to trade, the second can be fixed by decentralized exchanges.
TLDR: you're wrong

>Saudi Arabia - only sell oil in us dollars receive military protection, gold and armaments from the strongest military to ever walk the earth

This is something I've been thinking a lot lately, most of the foreign demand for US dollars is to buy oil from the arabs, say Japan wants to buy oil they first have to buy dollars from the US. Now what will happen when renewable energy becomes mainstream and demand for oil dwindles, the demand for us dollars will fall too, if the federal reserve doesn't reduce supply the dollar will crash hard.

banks in my country banned the IBAN of the popular exchanges. The only way I could buy crypto was because I found an exchange they didn't ban.

If the governments of the world want to fuck us, they will first ban exchanges and when only a handful of them remain, they will order the banks to stop transactions to those exchanges.

you don't have to ban crypto just tax the fuck of people that cash out

its actually easy to stop it crash the market

this is called the petro dollar.
The real problem for it at the moment is china has over 3 trillion in us debt they're ready to dump.

North korea will do somthing to crash the us economy then china will annex NK. With support from russia they will replace the us dollar as fiat currency and then we'll see WWII

They can "ban" it by not allowing it. That is all. They can't enforce it however, especially without immense ressources/tech/manpower. If we have really strong decentralized exchanges, it becomes easier as well for us.

Also some countries that allow it legally, like Japan recently, where they just throw in some regulations, are enough to ensure mainstream crypto-survival. And those will be the financial centers of the future. Every country that tries to ban and minimize crypto-efforts in their region will fucking miss out in the next 20 years and lose to those who don't. That is the whole fucking concept. You will miss out as a country if you lock yourself in because the fucking world keeps spinning even without you.

It was good to see how quickly the market adapts and the fucking chinks are GONE now. Nobody cares about them anymore in a couple of days. They had

do you even know how an order book works?

You forgot Russia

US economy is fucked when petrol is absolute. It will be a bloodbath.

russia has the second largest incentive to crash the us dollar because its status as world reserve permits the us of sanctions on it by the us.

Russia would take bitcoin over petro dollar anyday

too late, cuck

>banks in my country banned the IBAN of the popular exchanges.

Crazy shit...didn't know that was allowed, which country? Nevertheless, even if bank transfers are banned, it'd still be possible to circumvent that by using paypal for example.

No we are not. Our commie government is going fuckin nuts over bitcoin right now.

yeah they'd take chinese yuan world currency over bitcoin

Like it was during soviet era. We copied their prices to stay afloat.

They are too arrogant to think we matter. it happens every time in human history

By the time all the capital flight has taken place into crypto, it will already be too late for them

This. The IMF even said that central banks should be preparing to set negative interests rates in the next recession. The level of arrogance and out of touch with reality is just baffling.

cryptos aren't a threat to actual currency.

they're too volatile and difficult to use for the average man to ever adopt them, and as long as you're required to pay your taxes in real money they'll never replace real money.

So that means they're just a product that the government will tax when you buy and sell them. Which of course is a good thing for the gov.

technically it's not legal what they do, but it's not illegal either.

On one hand, the government didn't ban crypto or forced the banks to do this, so them blocking the IBAN of certain exchanges limits the stuff I can do with my own money which I'm not sure is legal. If you call them and ask them wtf is going on, depending on how stupid the person on the phone is, she will admit outright that the bank "doesn't allow crypto", whatever the fuck that means, or they will give a bullshit excuse about protecting you from fraud and shit. They will then tell you to wait like 30 days until they fix this and then never respond again. It's a bureaucratic hell.

On the other hand, a bank is a private company with it's own policy, so technically they can do whatever the fuck they want. If you don't like it, go to another bank. The problem is when every bank does the same shit.

The biggest vulnerabilty to crypto right now is the conversion from fiat to crypto. Your choices are:
- banks
- meet in a dark alley
- i haven't seen anyone that accepts paypal because it's so easy to scam people to send you bitcoins and then ask paypal to cancel that transaction.

I believe that this conversion from fiat to crypto is a bigger problem than anyone expects and we really need a way to do this without fucking banks.

you are delusional. the banks know exactly what it means.

this is why you have to give your whole life details before buying a single bitcoin

What are my chances of China unbanning all their shit with some """"regulations""" and make every single coin get at least a 50% increase

Exchanges ask for that information because they are regular businesses and don't want to be charged with money laundering. When decentralised exchanges become mainstream you won't have to give shit.

100%

Sergey will fix this issue. He'll get all of the banks on board.

...

I don't understand why you'd want to cash out anything unless you have everythig in crypto?

By a tenx or monaco card if you need to pay living expenses
can already buy pm with bitcoin
do not buy real estate until after the next stock market crash, by that time you won't need to cash out anyway

Yup. This 'ban' is just to give them some breathing space to improve their control domestically (also to manipulate and profit in meantime).

Expect regulated ICOs in China before end of year and yeah whole crypto market will get massive boost when China admits it isn't banning at all.

The kikes are petrified. They know their days are numbered.

you are naive my friend, these restrictions exist because the government want you to invest money into the economy, not out of the economy

I can actually see chainlink solving the fiat to crypto problem...Some kind of decentralized marketplace where individuals can directly pay each other via IBAN through a smart contract which then releases the desired amount of crypto to the buyer.

>I don't understand why you'd want to cash out anything unless you have everything in crypto?

because 99% of services are bought with fiat

Where did I say the opposite? All I'm saying is the exchanges wouldn't ask for your information if the government didn't threat them with accusing them of money laundering.

tenex
monaco
livingroomofsatoshi

the people you buy services from can't pay their bills in crypto.

>A ban is still a ban.
What are illegal drugs?

tenx -> atm

I haven't bought chainlink, but if this is a real posibility, I'm actually starting to regret ignoring all the shilling here.

show me an example of someone buying anything other than coffee from a hipster coffee shop

I'm just going to post this pic every time I see a retarded question like this from now on.

livingroomofsatoshi.com

you can get cash out of an atm with a tenx card

Because blockchain technology doesn't just add revolutionise the payments market, it can revolutionalise many other industries through decentralisation.

It would also spark a lot of controversy, muh NWO bullshit etc. that wouldnt be good for their image, hence why Choyneh is the only place that's even toed those waters thus far (and will not continue that position).

Ignore the "add".

>and then we'll see WWII
Like what ? In the History Channel?While China and the US are nuking each other?

Crypto is an economy, but where the middle man between the seller and the buyer isnt the banks but the blockchain itself. Thats why banks are chimping out, either they control crypto or outright destroy it. either way its gonna be a hell of a ride and if we make it or break it i just wanna tell that story when im 70 yo. I will be a homeless bum or a bitcoinaire.

don't forget if a decentralised crypto currency becomes the world currency it will be the end of war and financial repression meaning even if you weren't an early adopter life will be good

>>inb4 they can't ban them
>They can.
They really cant stop them. Ban yes, enforce no.

They ban narcotics, one of the biggest industries in the world.

Good luck with your FUD.

one can only dream. I think a global currency is the first step to a planetary government . We could use the blockchain to vote and every person would have a wallet that actually is linked to your identity like a global Social security number.

But crypto are the kikes!
There are so many billionaires and millionaires in crypto it isn't funny.

>the year is 2034
>mass immigration and nuclear war destroyed 80% of the world
>no banks exist anymore, only crypto
>99% of the world lives in poverty, only the select few that early adopted crypto live in the new world called "the pleasure dome"
>a community of extremely wealthy, cybernetically enhanced people who basically own the new world

pretty sure this is going to happen

dubs may confirm,
But the first thing the US/Chinks/bestkorea/russia are gonna do to each other is nuke the orbit . The EMP will fry everything. Its gonna be a prepper wetdream , not a crypto paradise

That theory is beyond stupid.

Thinking that an EMP will do its job is stupid?

all that does is convert to fiat

>choosing between crypto and pm/guns/means of food
Why not both? Use the money you save on groceries for more investing?

>why would governments allow money to exist?
>why would governments allow private banks and credit/debt to exist?
>why would governments allow stock trading to exist?
Nigga you need to educate yourself on financial history smdh.

>not placing your mining rig inside a faraday cage

This.
The country which will ban them will be at economic disadvantage compared to the ones which use them.
Also sure states can make illegal to pay with another currency than theirs inside the country but:
1) it would be technically impossible to enforce it, most people would respect the ban but the state would have no way to track the ones who don't or it would be at an extreme cost for little return
2) you can't declare something that is forbidden by the law therefore enjoy the millions in tax loss

Now the government will still fight it, especially the eurocrats and the fed but it would just delay the inevitable.

You forgot the EU.