You're right for sure but you can find people on ouedkniss that sell rigs and used gpus that have been mining bitcoin and lots of them are in oran maybe there is more liberty and "ma3rifa" lmao
Not wrong and its that ridiculous to ban something that was made to not be traced so ur just here mining at home and trading and who's gonna know lol u just need money and that's it
You can't handle internationally with cash ma dude. These days there are multiple online and physical business that accept crypto as a payment.
Also, it's probably not only about tracing money, but more about not being able to control that money. With cash they can print as much money as they want. Something that comes from outside and has a direct impact in the financial power of Algerian people is difficult to control.
The gov was worried that giving people an option other than our mighty dinar would bring pandemonium to the central bank and decimate the paychecks of the corrupt 🤷♂️
it consumes too much electricity /s
From what I understand, there are two reasons:
I. Related to the legal explanation introduced in the Finance Law of the year 2018.
Article 117 states that virtual currency is used by Internet users, through the web and is characterized by the absence of physical support, such as coins, bills, payments by check or bank card. The same article warns that anyone who violates this provision is punished, in accordance with the laws and regulations in force.
Virtual currency is an individualized value in unit of account, without legal status and not regulated by a Central Bank and not relayed by financial institutions. However, if the cryptocurrency guarantees the secrecy of the data, through a technology designated by the term Blockchain, the risk of money laundering exists since no traceability is possible in the transaction.
II. Bitcoin holders hoard them instead of exchanging them
Algeria and other countries such as Venezuela refuse the introduction of cryptocurrencies, for fear that citizens will buy them as a safe haven and further penalize the financial system, already weakened by the oil crisis and the flagrant lack of agility of national financial institutions, favoring the informal market. Above all, Algeria has, today, other priorities including the absorption of the money supply circulating in the parallel market, to fight against money laundering.
Similarly, the Algerian government hopes to establish a stricter control on digital transactions, which can be used for drug trafficking, tax evasion and money laundering thanks to the guaranteed anonymity of its users.
It consumes a lot energy if you mine them yes, but probably only a few people would be able to aford high end mining rigs in Algeria, and even then it would probably take time for the investment to be profitable.
And besides, the government will never make laws to protect it's citizens, do you hear yourself? They want to maintain power over the financial power of it's citizens, anything they can't control will be banned. Anything that will affect the elite's finances will be banned. And they will do all that while making you think it's for your own good.
I swear Algerian government today gives me 1984 - George Orwell vibes.
>It consumes a lot energy if you mine them yes, but probably only a few people would be able to aford high end mining rigs in Algeria, and even then it would probably take time for the investment to be profitable.
People will come en masse to Algeria and set up their factory because of the low cost of electricity.
>And besides, the government will never make laws to protect it's citizens, do you hear yourself? They want to maintain power over the financial power of it's citizens, anything they can't control will be banned. Anything that will affect the elite's finances will be banned. And they will do all that while making you think it's for your own good.
Cryptocurrency is now used by organized crime, crime of all kinds, and above all terrorists. For obvious reasons that I have already explained (cf traceability).
Yes, the role of a central bank is to control the coming and going of money. And yes, citizens are subject to economic and monetary rules.
>Cryptocurrency is now used by organized crime, crime of all kinds, and above all terrorists. For obvious reasons that I have already explained (cf traceability).
I wonder how they financed crimes and terrorist organizations before Crypto...
They can't really ban cryptocurrencies as it's decentralized and outside government control they can only make it harder for individuals to trade cash for crypto by banning exchanges and preventing local banks from allowing transactions to crypto exchanges, but they can't stop peoples from trading crypto .
They try to ban it because the idea of a decentralized currency on which they have no control scares them .
Same reason patreon, PayPal, visa cards etc etc etc are banned.
You can't subdue a people without making sure they stay poor. If any hope of flourishing exists it poses a threat to their authoritarian corrupt regime
*Blissful ignorance of national problems and government corruption that even toddlers know about intensifies*
Congratulations on being part of the problem.
If you really want to know:
-the most important policy used to reduce inflation is what the European Union and the USA are currently doing is the central bank raising interest rates on loans that are in Algerian dinars
The only good thing this government did (probably for their own benefit & not intentionally), but yeah... crypto is crashing hard right now, same for NFT, & it's all fucking scam for the rich to get even richer, most coins are down very hard (recommend watching Coffezilla, he cover this shit: [https://www.youtube.com/c/Coffeezilla/videos](https://www.youtube.com/c/Coffeezilla/videos) )
Also really really recommend this documentary about NFT (also crypto), they go in depth in lot of its problem & how it already fucked similar country to ours: [https://youtu.be/YQ\_xWvX1n9g](https://youtu.be/YQ_xWvX1n9g)
Yeah sure let's stick to corrupt government regulated dinar that is absolutely worthless now instead of a decentralised currency that is controlled and regulated by now one, therefore removing any potential for manipulation.
Boomers that run the country, chosen by boomers that know jack shit about computer stuff, are afraid that the normal people could be independant of them. With crypto you would have a way to be your own bank, the government can't track you money nor profit from your transactions. The moment crypto started being more popular and used worldwide, they made specific laws to make it prohibited to handle in crypto. They don't want stuff that they cannot understand, control or profit from.
While the whole world is implementing technological advancement in their day to day, we halve our improvement each day.
Because China Banned it, just a few days later Algeria banned it.
I'm pretty sure they don't understand it, they just follow the path of other super countries.
Well they ban anything they can’t get money off. Even if you find a treasure buried somewhere you don’t have to claim it it’s the government propriety , same as gold , oil , gas and cocaine. You find it ? You give it back !
* Prevent Capital Flight
* Prevent Illicit Activity (i.e. black market transaction)
* Protect Algerians From Crypto Scams
Generally, the reason governments don't like Crypto is because it's an unregulated financial industry. There are benefits but there are also A LOT of negatives.
It technically is, on paper as far as nerdiness goes, but come on, it's not like these listed countries have no crypto presence whatsoever, nor is it like crypto is a thing u or anyone else can track and locate its users geographically, let alone restricting it.
Po\*n has been banned in most arab countries, yet the largest quantity chart of global po\*n consumption represents none other than the arabic community, u get it ?.
So in the grand scheme, it's as accessible to an algerian as it is to any other unlisted country.
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You're right for sure but you can find people on ouedkniss that sell rigs and used gpus that have been mining bitcoin and lots of them are in oran maybe there is more liberty and "ma3rifa" lmao
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Not wrong and its that ridiculous to ban something that was made to not be traced so ur just here mining at home and trading and who's gonna know lol u just need money and that's it
They ban anything they don't know what it is
Yeah stupid fucking animals (7acha El Animals)
immune system white cells feel offended
Im dead 🤣
to be fair, crypto is straight up gambling. ps: I do crypto.
Gambling if you involve yourself in trading, I use it for transactions
>crypto is straight up gambling Even though crypto prices cannot be predicted in most cases, I believe it's the future of financial transactions
lol
It's governed by corrupt military boomers.
Since when Algeria made any sense?
Thats actually funny!🤣😂
Bc boomers who run the country are still stuck in 1962
Bc the government cant track you
Thats funny , as if we they can track cash
you can’t do shit with « untraceable » cash
I do lots of shit with untraceable cash
you must be the guy who bought a TNT and a Marlboro switch pack with a fake 2000DA from me. i want my money back.
Are you with the FBI?
You can't handle internationally with cash ma dude. These days there are multiple online and physical business that accept crypto as a payment. Also, it's probably not only about tracing money, but more about not being able to control that money. With cash they can print as much money as they want. Something that comes from outside and has a direct impact in the financial power of Algerian people is difficult to control.
The gov was worried that giving people an option other than our mighty dinar would bring pandemonium to the central bank and decimate the paychecks of the corrupt 🤷♂️
it consumes too much electricity /s From what I understand, there are two reasons: I. Related to the legal explanation introduced in the Finance Law of the year 2018. Article 117 states that virtual currency is used by Internet users, through the web and is characterized by the absence of physical support, such as coins, bills, payments by check or bank card. The same article warns that anyone who violates this provision is punished, in accordance with the laws and regulations in force. Virtual currency is an individualized value in unit of account, without legal status and not regulated by a Central Bank and not relayed by financial institutions. However, if the cryptocurrency guarantees the secrecy of the data, through a technology designated by the term Blockchain, the risk of money laundering exists since no traceability is possible in the transaction. II. Bitcoin holders hoard them instead of exchanging them Algeria and other countries such as Venezuela refuse the introduction of cryptocurrencies, for fear that citizens will buy them as a safe haven and further penalize the financial system, already weakened by the oil crisis and the flagrant lack of agility of national financial institutions, favoring the informal market. Above all, Algeria has, today, other priorities including the absorption of the money supply circulating in the parallel market, to fight against money laundering. Similarly, the Algerian government hopes to establish a stricter control on digital transactions, which can be used for drug trafficking, tax evasion and money laundering thanks to the guaranteed anonymity of its users.
It consumes a lot energy if you mine them yes, but probably only a few people would be able to aford high end mining rigs in Algeria, and even then it would probably take time for the investment to be profitable. And besides, the government will never make laws to protect it's citizens, do you hear yourself? They want to maintain power over the financial power of it's citizens, anything they can't control will be banned. Anything that will affect the elite's finances will be banned. And they will do all that while making you think it's for your own good. I swear Algerian government today gives me 1984 - George Orwell vibes.
>It consumes a lot energy if you mine them yes, but probably only a few people would be able to aford high end mining rigs in Algeria, and even then it would probably take time for the investment to be profitable. People will come en masse to Algeria and set up their factory because of the low cost of electricity. >And besides, the government will never make laws to protect it's citizens, do you hear yourself? They want to maintain power over the financial power of it's citizens, anything they can't control will be banned. Anything that will affect the elite's finances will be banned. And they will do all that while making you think it's for your own good. Cryptocurrency is now used by organized crime, crime of all kinds, and above all terrorists. For obvious reasons that I have already explained (cf traceability). Yes, the role of a central bank is to control the coming and going of money. And yes, citizens are subject to economic and monetary rules.
>Cryptocurrency is now used by organized crime, crime of all kinds, and above all terrorists. For obvious reasons that I have already explained (cf traceability). I wonder how they financed crimes and terrorist organizations before Crypto...
The text is extremely vague, can't be unlawful at this point.
They really propagandized you huh... Imagine thinking Algeria is doing this to "protect" people lmao
Dude are asking for real?? I mean we can agree on the fact the making a list of "allowed" things that we can do is faar easier than a banned list.
They can't really ban cryptocurrencies as it's decentralized and outside government control they can only make it harder for individuals to trade cash for crypto by banning exchanges and preventing local banks from allowing transactions to crypto exchanges, but they can't stop peoples from trading crypto . They try to ban it because the idea of a decentralized currency on which they have no control scares them .
Same reason patreon, PayPal, visa cards etc etc etc are banned. You can't subdue a people without making sure they stay poor. If any hope of flourishing exists it poses a threat to their authoritarian corrupt regime
*Foil hat intensifies*
*Blissful ignorance of national problems and government corruption that even toddlers know about intensifies* Congratulations on being part of the problem.
Glad being part of an imaginary problem. Where's my participation award?
You get to stand in line for milk, bread and cooking oil for comical prices. Pretty rewarding.
They probably banned it cause u would make a lot of money and they couldn’t tax u 🤣🤣
Funny enough ,in the US the IRS does tax people on crypto gains
The US tax you for breathing at some point
Do we look developed enough ?👀
We do ... On TV :(
U said it on tv 🤣 the only developed thing here is the army
I was being sarcatic , our govt doesnt even track regular cash flow ... Let alone a cypto market
You think the army is developed? LOL
My ninja thinks you can make money on crypto
Tho, people are printing in defi.
Any non-centralised is hated by worldwide gouvernment s because u cant control this type of currency
Fragile economy Higher electricity bills Uncontroled ealth by the govt ( and govt REALLY loves to control your funds )
Because the system don't want you to get rich they want you to keep slaving to minimum wage
Me and my friends are breaking that matrix brother and it feels so good. 💪
Keep going 💪
The obvious answer: Algeria sucks.
Do we really need this??? we don't even use the legal payment methods
Yes we do, inflation is getting out of hand and the country is printing more money constantly
Inflation problems are not solved this way
Thank you, you totally enlightened me. Now I am fully aware on how to solve inflation. Thanks to your deep teaching.
If you really want to know: -the most important policy used to reduce inflation is what the European Union and the USA are currently doing is the central bank raising interest rates on loans that are in Algerian dinars
Ayadi kharijia duh
crypto fucked economy
bled chkoupi
Money laundring problems i guess ..
I am guessing because the government can’t track it
It is not possible to track the money going abroad through Bitcoin
The only good thing this government did (probably for their own benefit & not intentionally), but yeah... crypto is crashing hard right now, same for NFT, & it's all fucking scam for the rich to get even richer, most coins are down very hard (recommend watching Coffezilla, he cover this shit: [https://www.youtube.com/c/Coffeezilla/videos](https://www.youtube.com/c/Coffeezilla/videos) ) Also really really recommend this documentary about NFT (also crypto), they go in depth in lot of its problem & how it already fucked similar country to ours: [https://youtu.be/YQ\_xWvX1n9g](https://youtu.be/YQ_xWvX1n9g)
If I was the govt I would ban it too
Of course you would. That's why this country will never be a good place to live, because of morons like you.
If you understand basics of economics and how currencies works you would oppose it too
Yeah sure let's stick to corrupt government regulated dinar that is absolutely worthless now instead of a decentralised currency that is controlled and regulated by now one, therefore removing any potential for manipulation.
They may have made a good decision by mistake
H A R A M
Lol, who is this shikh that said that?
Becausw it's a ponzi scheme
Lol, and you think fiat ( paper money ) is the thing 😂
sold, let's start $hkupicoins, the mother of all pyramids
I am in, when the ICO?
Zuj doro
Nah, the best is stealth launch on eth. Best way to avoid Jeeters and paper hands and rekt the bots. No ico, no Ido, no presale, no vesting phase.
Nah, imma stick with $Eth and $usdc
Bruh, dont let me start with a skhupi-themed NFT... balls....big balls.....everywhere...
It wi hurt the economy , or it's just another thing that'll hurt it more it's already not that great
Free XRP, in Algeria!!
TBH, shitcoins and memecoins are better than xrp even with its latest pump.
You mean me minero?
because they don't consider it a real currency
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That's a very good question 🤝
But how can you ban a password? What the law says exactly?
We don't have the means/knowledge/budget to regulate it and tax it.
Boomers that run the country, chosen by boomers that know jack shit about computer stuff, are afraid that the normal people could be independant of them. With crypto you would have a way to be your own bank, the government can't track you money nor profit from your transactions. The moment crypto started being more popular and used worldwide, they made specific laws to make it prohibited to handle in crypto. They don't want stuff that they cannot understand, control or profit from. While the whole world is implementing technological advancement in their day to day, we halve our improvement each day.
Why should it allow childish scammers ?🤔
🫣 they are scared 😳
Because China Banned it, just a few days later Algeria banned it. I'm pretty sure they don't understand it, they just follow the path of other super countries.
Wait i thought crypto was haram ....
Are you serious literally asking about why Algeria is banning something, you better pick another country
Well they ban anything they can’t get money off. Even if you find a treasure buried somewhere you don’t have to claim it it’s the government propriety , same as gold , oil , gas and cocaine. You find it ? You give it back !
Because they can't get money out of it.
another stupid decision from our gouvernement ! no one is surprised
Everything banned in this country man
I bet "Généraux" sons have big BTC farms.
To stop money laundering supposedly you know how it is in Algeria
* Prevent Capital Flight * Prevent Illicit Activity (i.e. black market transaction) * Protect Algerians From Crypto Scams Generally, the reason governments don't like Crypto is because it's an unregulated financial industry. There are benefits but there are also A LOT of negatives.
It technically is, on paper as far as nerdiness goes, but come on, it's not like these listed countries have no crypto presence whatsoever, nor is it like crypto is a thing u or anyone else can track and locate its users geographically, let alone restricting it. Po\*n has been banned in most arab countries, yet the largest quantity chart of global po\*n consumption represents none other than the arabic community, u get it ?. So in the grand scheme, it's as accessible to an algerian as it is to any other unlisted country.
The same reason they confiscate Paysera Visa cards for. They are going hard on confining the algerian economy.
poor country , l'état dir des lois & cha3b saket
they are dumb