11-30-2019, 08:31 AM
(06-11-2019, 03:18 PM)arsalahmed786 Wrote: My friend had only 2 option either PayPal or BTC/ETH (Cryptocurrency) Cryptocurrency is banned in Pakistan, Most of people sell/purchase btc but since 2018 (when PTI government came into power) They've take action every single responsible authorities and now Federal Board of Revenue (FBR) start taking action against money-laundering cases, All . Our new government won last election only because they've promised they will take action against corruption. Which they've fulfilled week. Ex-Prime Mister (Nawaz Sharif) already in jail and this week many politician arrested by NAB Ex-President (Zardari who claim that nobody can do anything aganist him, He act like a God), another parties leaders arrested, I think this thread going off-topic.Any time money is involved, corruption rear its ugly head, thus you're still on topic. I've always been interested in the World's geopolitics and I've been following (rather irregularly lately) your region's politics (Iran + Afghanistan + Pakistan + India + China.) No wonder! you're becoming the new center of the World (once again!) Which is good news for the rest of us who are tiresome after 5 centuries of Eurocentrism.
Indeed, Pakistan, like pretty much anywhere else, has an endemic corruption problem which is exacerbated by the nature of its political system and the political class that it produces. Not sure if the current government will address the corruption problem, as the root causes are systemic.
(06-11-2019, 03:18 PM)arsalahmed786 Wrote: Shortly i mean, We might see PayPal in Pakistan soon and most possibly cryptocurrency will legal in the future.For the cryptocurrency side of the topic, well, the first reaction of most governments around the World is to ban them, then put restrictions on them, then try to co-opt them by setting a roadmap to integrate the blockchain technology/protocol that powers them.
We don't have any digital-way to pay/receive money. 1Link (1Link is Pakistani largest switch system they're more likely a bridge between different banks) So 1Link working on PayPal alternative option, A new project called "PayPak" 1.5Million cards already issued and online transactions not enabled yet. Currently 20 countries adopted it, according to wikipedia but 1Link guaranteed it'll work in 28 different countries official release in 2020.
But the reason i making this thread is, Is cryptocurrency banned in your country? Do you think it should be legal?
(....)
What we have to understand is that Central banks around the World have abused their power by their QE (Quantitative Easing, i.e. politics of printing fiat money out of thin air) policy and flooded the world with worthless paper money lent to the rich (Corporate classes of the World) at near 0%, artificially stimulating stocks while the real economy (and the commoners/us) is crumbling under Huge Debts, leading (under the global Neolibaral dictat) to huge inequalities around the World and social unrests wherever you look on the World Map.
This is why people simply lost faith in their local currencies (and the USD and the World Financial system that powers them) and turned to something that central banks can't produce ad-nauseam, ie the Cryptos (bitcoin, ethereum etc...)
The only governments that welcomed Cryptos or produced their own (through blockchain) are those who were suffering under the US economic warfare (Venezula, Iran, etc..) ...and ultimately, the USD ($) will soon see its current status as the World reserve currency under serious trouble...
As to my personal opinion on Cryptos in general; well, I'm infavor just because it gets rid of yet another middle-man (the currently established financial institutions.) The streamlining of peer-to-peer transactions is a good thing in today's World, but we have to fight for it, because that's not something that World governements will relinquish their grip on anytime soon.
(06-11-2019, 03:18 PM)arsalahmed786 Wrote: I see Cryptocurrency legal is many countries but how do their authorities allowed it? i mean if i'm not wrong the only reason it banned in half of the world countries it because it cannot be traceable.You're wrong because of what I've said above and because Cryptos ARE MORE TRACEABLE/TRANSPARENT THAN what's going on inside the banks. The thing is that the traceability ISN'T REAL-TIME, and that what's bothering the authorities, plus the fact that they cannot always know who's behind a given wallet (but I think it's possible if they put enough resources on the case retrospectively.)
PS:
That's my take on this, and please correct me if I get something wrong--As that's my understanding of it currently and I've been +/- off-grid for a couple of years to be that up-to-date on this.