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Bali & Bitcoin

..it has been a couple of days here while I have not noticed any “Bitcoin accepted here” sign.

Looking into it a bit deeper and see that this totally banned here - meaning the payments and the sanctions are quite serious for both sides - high fines, jail, business closure, deportation, etc.

Well, this is not worthy the risk of any sides and considering every state would do the same - bitcoin has a serious problem.

How do you feel this threat and do you know about some nice overview of these restrictions in particular countries?

Additional source of my info:

https://cointelegraph.com/news/bali-governor-warns-on-crypto-payments

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Discussion

galegoo⚡ 2y ago

this is so stupid

Jakub 2y ago

not sure what should convince the authorities to not go against it.. they realize what they loosing.. but what would they get if they would make it legal?

galegoo⚡ 2y ago

this is true, governments only lose with bitcoin adoption

change must come from the people, it will never be incentivised

Jakub 2y ago

but how?

galegoo⚡ 2y ago

most people are lazy, they're only going to change when they're forced to; when their government fails them

most people alive today won't ever accept Bitcoin. they're too accustomed to their govs. to waht to change

lucikly, we don't need them to grow Bitcoin. change starts with those who want to see it

use your sats, incentivise the economy ⚡️

Jakub 2y ago

I would say luckily here are states like El Salvador. Meaning in the worst case the bitcoiners may spend their sats there or online.

Once new people will see the benefits of it they will join.

Govs may join with an incentives to attract people to start or accelerate their economy like in El Salvador.

For business are the incentives clear, but it cannot mean for them more risks and issues than benefits.

The risk I see in a future is that bitcoin may stay in a grey zone of interest for all sides similary like gamble or dark markets.. 🤔🫣