How much known is Bitcoin in your Country?

[kirubel]

Bitcoin is one of the most well known cryptocurrency in the world and it have many users and investors who are holding bitcoin for profit, and their are some peoples who are getting payment with bitcoin, in most Europe countries and US and also Asia countries some stores accepts payments with bitcoin and also they have wallets that can send money exchanged from bitcoin, but in most country in the world don't know what bitcoin is and some peoples know it but the country banking system don't accept bitcoin and the transaction for those peoples will be hard.
So in your country how known is bitcoin and s it accepted in the banking system?

 

[Suba]

In my country Bitcoin/crypto is very popular, especially among young people who are members of many local crypto exchanges. But unfortunately Bitcoin is not prohibited as a means of payment, nor are there banks that can accept Bitcoin directly so Bitcoin users have to go through a crypto exchange intermediary to transfer or withdraw fiat money to the bank.

 

[kirubel]

Same in my country, it is kwon among young society and young generations, but not known that much among other generations, and they don't use it, and yeah the bank system also don't accept any transactions from exchanging sites.

 

[saoussen5765]

Same in my country, it is kwon among young society and young generations, but not known that much among other generations, and they don't use it, and yeah the bank system also don't accept any transactions from exchanging sites.

The young generation is expected to know about bitcoin because old ones are out of the technology or even at a young age and don't know about cryptocurrencies for example means something casual.

 

[kirubel]

The young generation is expected to know about bitcoin because old ones are out of the technology or even at a young age and don't know about cryptocurrencies for example means something casual.

Yeah, only the young generation have idea about bitcoin and crypto coins, and most of the times governments ban cryptocurrency exchange because of lack of knowledge and information's, since they are old they don't want to to use it.

 

[saoussen5765]

Yeah, only the young generation have idea about bitcoin and crypto coins, and most of the times governments ban cryptocurrency exchange because of lack of knowledge and information's, since they are old they don't want to to use it.

This is because if you for example need to pay for a service then you need to pass bank central to establish international bank wire while with Binance and P2P transactions you bypass this process to pay for your invoices with cryptocurrencies then all their calculations are on the water, this is reason behind arrest to prison or even track people doing this transaction and arrest for prison.

 

[eldavis]

Over here in my country, the current price for one Bitcoin usually varies based on the exchange platform you are using though, but at the moment on luno, the price on our local currency is around 42 million naira and some extras.

 

[saoussen5765]

Over here in my country, the current price for one Bitcoin usually varies based on the exchange platform you are using though, but at the moment on luno, the price on our local currency is around 42 million naira and some extras.

Does luno allows peer to peer transactions or even local payment options for top up or withdraw cryptocurrency in neira for nigerians only or not?

 

[kirubel]

This is because if you for example need to pay for a service then you need to pass bank central to establish international bank wire while with Binance and P2P transactions you bypass this process to pay for your invoices with cryptocurrencies then all their calculations are on the water, this is reason behind arrest to prison or even track people doing this transaction and arrest for prison.

You are right the crypto coin transactions and payments with crypto coins is untraceable and it is very hard for the government to control a crypto coin transactions, and this thing is very favorable and good opportunity for criminals and for illegal work.

 

[saoussen5765]

You are right the crypto coin transactions and payments with crypto coins is untraceable and it is very hard for the government to control a crypto coin transactions, and this thing is very favorable and good opportunity for criminals and for illegal work.

Crypto coin transactions are traceable and it is easy for the government to know if someone is engaged in crypto activity because they can control which sites you are visiting and even control which kind of transactions are doing unlike what people think. This is why sometimes they arrest someone in prison for crypto activity from time to time.

 

[nomad]

Bitcoin is well known among Gen Z in my home country, Gen Z is also involved in Bitcoin investment and trading. Rest of the people do not have any idea of what Bitcoin actually is

 

[saoussen5765]

Bitcoin is well known among Gen Z in my home country, Gen Z is also involved in Bitcoin investment and trading. Rest of the people do not have any idea of what Bitcoin actually is

It is the name of an emission in a radio station called Jawhara FM in my country where they invite young people to speak for 2 hours and then talk about their work and progress in life.

 

[kirubel]

Crypto coin transactions are traceable and it is easy for the government to know if someone is engaged in crypto activity because they can control which sites you are visiting and even control which kind of transactions are doing unlike what people think. This is why sometimes they arrest someone in prison for crypto activity from time to time.

Yeah the government may trace the transaction but they can't know who own the wallet address, and they don't know any information's about the holder of the coin in specific wallets, i think that is why some big crypto wallets are forcing their users to fill some KYC verifications in order to control the transaction and the owner of the wallets

 

[saoussen5765]

Yeah the government may trace the transaction but they can't know who own the wallet address, and they don't know any information's about the holder of the coin in specific wallets, i think that is why some big crypto wallets are forcing their users to fill some KYC verifications in order to control the transaction and the owner of the wallets

If they watch your navigation history they could at least know the person using the computer because your navigation history is visible to them, they will not carry out blockchain transactions but for example, see in the navigation history by the internet provider that this person is visiting crypto website and making crypto payment and then by MAC could determine how has used the PC and from each location if they need to follow someone making crypto transaction to make everything clear. If you are not a software engineer you will understand anything.

 

[kirubel]

If they watch your navigation history they could at least know the person using the computer because your navigation history is visible to them, they will not carry out blockchain transactions but for example, see in the navigation history by the internet provider that this person is visiting crypto website and making crypto payment and then by MAC could determine how has used the PC and from each location if they need to follow someone making crypto transaction to make everything clear. If you are not a software engineer you will understand anything.

Yeah i get you, they will trace the IP address of the persons computer and the IP of the computer they are using while transferring the crypto, yeah if the criminal is a beginner and don't have any idea about IP address and dhow to hide IP and mac number of his or her pc then they are easily can be traced.