Govt, SBP recommend complete ban on cryptocurrencies

[Norwegian]

Today we have a whole deFi (decentralized financing) systems that help run businesses. We have NFTs and due to blockchain technology people now can earn from playing games and not just waste time.

Sure if these businesses are profitable and not just another ponzi scheme, why not

Since years i invest in crypto in the millions and have never used dollar, instead i use my PKR to buy USDT and trade with it and when i earn, i convert the USDT back to PKR. I have invested for other ppl and not a single person have ever lost a penny. Yeah the market crashes but wait a month or two and its back up. Apart from overseas Pakistanis, who would obviously use local currency to buy USDT, i dont see how ppl in Pakistan would use forex to buy crypto.
For a country like Pakistan its a great opportunity but the IMF agents like raza baqir in SBP are not allowing it. If we launched digital PKR and alllwed exchanges and minning, we could easily earn north of $50 billion a year.
Do u think the govt cares abt ppl money? They want ppl to put money in banks so they can earn from our money. If govt is so worried abt ppl money then why not crackdown on the countless ponzy schemes and multi level marketing frauds. Why fraudsters like double shah and others are not brought from abroad through interpol or other ways?

USDT aka tether is a fraud. Buying USDT is not the same as buying US dollar.

Stablecoin Tether leaves investors unstable with 'fraud' whiff in $69-billion reserve

Reports suggest that if Tether collapsed, it would entail a global financial meltdown of almost $2.3 trillion.

www.moneycontrol.com

Anyone Seen Tether’s Billions?

A wild search for the U.S. dollars supposedly backing the stablecoin at the center of the global cryptocurrency trade—and in the crosshairs of U.S. regulators and prosecutors.

www.bloomberg.com

 

[Imran Khan]

Fiat currency whether Paper or Digital is back by the government while Crypto currencies are not. On the contrary they are being banned.


The issue is not with the technology but recognition.

Only Government backed Cryptos like Chinese Digital Yuan will have value.

Crypto currencies not backed by the governments will die and go to zero one day.

govs themselves are backed by ? what make you think we should believe in govs ?

 

[TNT]

Sure if these businesses are profitable and not just another ponzi scheme, why not

USDT aka tether is a fraud. Buying USDT is not the same as buying US dollar.

Stablecoin Tether leaves investors unstable with 'fraud' whiff in $69-billion reserve

Reports suggest that if Tether collapsed, it would entail a global financial meltdown of almost $2.3 trillion.

www.moneycontrol.com

Anyone Seen Tether’s Billions?

A wild search for the U.S. dollars supposedly backing the stablecoin at the center of the global cryptocurrency trade—and in the crosshairs of U.S. regulators and prosecutors.

www.bloomberg.com

You present zero facts or logic and declare it fraud. I am sure you are a fan of the conventional financial system that is in control of zionists.

Fiat currency whether Paper or Digital is back by the government while Crypto currencies are not. On the contrary they are being banned.


The issue is not with the technology but recognition.

Only Government backed Cryptos like Chinese Digital Yuan will have value.

Crypto currencies not backed by the governments will die and go to zero one day.

Small projects may vanish but giants like etherium and others will survive and thrive. This is just the beginning and people slowly realizing benefits of blockchain. There are alot of good and futuristic projects that will succeed. It depends on the projects and their use case.

 

[Norwegian]

You present zero facts or logic and declare it fraud. I am sure you are a fan of the conventional financial system that is in control of zionists.


Small projects may vanish but giants like etherium and others will survive and thrive. This is just the beginning and people slowly realizing benefits of blockchain. There are alot of good and futuristic projects that will succeed. It depends on the projects and their use case.

I presented two articles from world famous financial newspapers that show how USDT is not backed by US dollars and thus a fraud. You refused to read it and now complaining
Almost all of crypto trading happens with the use of USDT as intermediate crypto currency that is not backed by US dollars
It means you can never cash out all of your crypto assets because that cash (US dollars) do not exist

the Greatest Scam in History Starring Tether’s Fraudulent Stablecoin USDT

Most people find what I’m about to say ridiculous but it’s true. I don’t write articles without knowing what I say is true. So here goes…

medium.com

 

[TNT]

I presented two articles from world famous financial newspapers that show how USDT is not backed by US dollars and thus a fraud. You refused to read it and now complaining

Its not just USDT, there are many other stable coins pegged to currencies. You dont understand the concept and keep declaring it fraud while the real fraud is the current system. I dont expect u to support a system that damages zionists but u calling it fraud doesn't change anything, crypto is inevitable.

 

[Maula Jatt]

Its not just USDT, there are many other stable coins pegged to currencies. You dont understand the concept and keep declaring it fraud while the real fraud is the current system. I dont expect u to support a system that damages zionists but u calling it fraud doesn't change anything, crypto is inevitable.

You sounding like a lande bazaar ka Waqar zaka rn ngl

 

[Norwegian]

Its not just USDT, there are many other stable coins pegged to currencies. You dont understand the concept and keep declaring it fraud while the real fraud is the current system. I dont expect u to support a system that damages zionists but u calling it fraud doesn't change anything, crypto is inevitable.

Zionists? Lol you think you crypto fan boys are doing this to fight some imaginary Zionist power? Think again. Zionist state of Israel is heavily involved in crypto technologies

Israel is rapidly expanding field of cryptocurrency and blockchain

Despite Israel’s relatively small capital representation in the cryptocurrency space, its presence in the more all-encompassing field of blockchain is palpable.

m.jpost.com

Israel on Its Way to Design Digital Shekel Based on Ethereum (Report)

The central bank of Israel chose Ethereum's network to launch the stages of its CBDC trial program.

cryptopotato.com

 

[Maula Jatt]

Zionists? Lol you think you crypto fan boys are doing this to fighting Zionists? Think again. Zionist state of Israel is heavily involved in crypto technologies

Israel is rapidly expanding field of cryptocurrency and blockchain

Despite Israel’s relatively small capital representation in the cryptocurrency space, its presence in the more all-encompassing field of blockchain is palpable.

m.jpost.com

I have no issues with crypto except that if it uses forex reserves than ban it (which apparently it doesn't so that's good actually)
Second black economy/money laundering

If both of these concerns are addressed and there's no issue on this front

Than GOP should shut it's mouth and let people be
It's a free country after all

 

[Norwegian]

I have no issues with crypto except that if it uses forex reserves than ban it (which apparently it doesn't so that's good actually)
Second black economy/money laundering

If both of these concerns are addressed and there's no issue on this front

Than GOP should shut it's mouth and let people be
It's a free country after all

Good then don't cry and call help of authorities when ordinary people start losing millions of dollars on crypto scams

Rs18b cryptocurrency scam: Hopes rises for Pakistanis as Binance assures FIA of full cooperation in probe

ISLAMABAD: Hopes of those Pakistanis who had lost their hard-earned money to the online Rs18 billion cryptocurrency fraud have risen as global crypto exchange Binance has assured the Federal...

www.thenews.com.pk

 

[Maula Jatt]

Good then don't cry and call help of authorities when ordinary people start losing millions of dollars on crypto scams

Rs18b cryptocurrency scam: Hopes rises for Pakistanis as Binance assures FIA of full cooperation in probe

ISLAMABAD: Hopes of those Pakistanis who had lost their hard-earned money to the online Rs18 billion cryptocurrency fraud have risen as global crypto exchange Binance has assured the Federal...

www.thenews.com.pk

Well it's their money and GOP is not their aba Jaan

 

[Menace2Society]

If Pakistan wants to get out debt fast, it must invest.

 

[Norwegian]

If Pakistan wants to get out debt fast, it must invest.

Invest in exports and education, not anything else

 

[Menace2Society]

Invest in exports and education, not anything else

Dump the reserves in, 10x in next 5 years

 

[TNT]

You sounding like a lande bazaar ka Waqar zaka rn ngl

I dont care what i sound to u, ive earned millions in crypto. I trade in crypto since years and have never watched or listened to that moron. Guys told me he runs a group where he gives trading advice and you have to pay him to join the group lolz. He is a scam and may even runaway with people's money. Better to trade urself.

 

[Norwegian]

u, ive earned millions in crypto. I trade in crypto since years

Crypto is a pyramid scheme. Old investors get rich quickly by taking in investment of new investors. Imagine how rich original founder of Bitcoin would be today. He made the currency dirt cheap vs today when enormous amount of energy is required thus increasing its price. Scam