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On 7/4/2021 at 6:37 PM, Floridian said:

Can our crypto experts answer a question for me, please?

 

If I use a VPN, would that allow me to buy a crypto that is not available to US citizens?

Is this how people are able to buy what they want without without being told they can't buy it?  

 

Trying to figure a way to do this.  I'd like to know the answer before I spend the money on a VPN.

Thank you.

 

 

 

It's more about the exchanges not allowing US citizens to purchase than the individual projects doing so.

 

Yes, a VPN might be helpful....however many exchanges use the KYC process....(know your customer).....and with the info you have to supply there will be little doubt you are tied to the US.

 

US citizens are not greatly admired in many parts of the world.    CL

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  • 2 weeks later...

Coinbase is offering a visa debit card that allows you to receive 4% back in xlm rewards or 1 % back in bitcoin...I'm not spending my crypto cuz I'm long on the hodl...but I now understand why stablecoins like usdc are necessary...there are no transaction fees if you use usdc!!! So my card should arrive any day and I'm gonna see if it works! Cuz if it does I'm going to be using stablecoin for everything! 

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Bitcoin price slides amid EU call to make transfers traceable, and rise of ‘stablecoins’

 

European regulator want banks to hold personal details of cryptocurrency clients, while US wants swift work to establish less volatile ‘stablecoins’

 

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Out of control and rising: why bitcoin has Nigeria’s government in a panic

 

As leaders around the world grapple with cryptocurrencies, what happened when the African country tried to ban them?

 

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On 7/17/2021 at 1:05 PM, PeaceSign said:

Coinbase is offering a visa debit card that allows you to receive 4% back in xlm rewards or 1 % back in bitcoin...I'm not spending my crypto cuz I'm long on the hodl...but I now understand why stablecoins like usdc are necessary...there are no transaction fees if you use usdc!!! So my card should arrive any day and I'm gonna see if it works! Cuz if it does I'm going to be using stablecoin for everything! 

 

So I finally received the coinbase card. I loaded 100 dollars to USDC (a stablecoin), do not purchase with your bank debit/credit card cuz it charges fees, but I linked it directly through ACH to avoid fees. I made an 84 dollar purchase with the coinbase card on ebay and within 5 minutes got notified that the transaction went through via coinbase...a few minutes later I saw my rewards post...it was $3.63 (change might be off, going off memory). Soooooo I will try my bills this month and mortgage payment next month....so 4 percent cash back seems to be working insofar!! With no fees if you use USDC through ACH!

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  • 2 weeks later...

https://www.google.com/amp/s/www.coindesk.com/crypto-iraq-kurdistan%3famp=1

image.thumb.jpeg.a35a4eca482d35f598a421db2dd79adc.jpeg

The Inevitability of Crypto in Iraq

Despite roadblocks, crypto is becoming increasingly popular in Iraq and the Kurdistan Region.

 

(Levi Meir Clancy/Unsplash, modified by CoinDesk)

 

Abdurrahman Bapir

Aug 11, 2021 at 5:42 p.m. UTC

Updated Aug 11, 2021 at 5:43 p.m. UTC

 

 

Cryptocurrency was born out of a financial crisis. It was a proposed solution to the problems caused by, and inherent in, the worldwide banking system as well as centralized authorities.

Satoshi Nakamoto’s vision, as set out in the Bitcoin white paper, was in some ways too good to be true at the time. The idea of a decentralized peer-to-peer digital cash was so obscure that had it not been for an elite of tech geeks who knew the real value of this technology, it would have been dismissed. Early adoption remained slow until more people realized the promises of crypto and its underlying blockchain technology.

Abdurrahman Bapir is the founder of Kurdcoin, the first and largest crypto brokerage in Iraq. He is a master's student in Politics and Economics of the Middle East at Kings College London.

 

CoinDesk's Crypto State: Middle East virtual event is Aug. 11.

More than a decade after bitcoin first appeared, adoption of the cryptocurrency shows that the technology is in the early stages of revolutionizing finance and the world, providing solutions for the unbanked and banked alike. Nowhere is this more on display than in Iraq, which now has for the first time become a bridge that connect the unbanked in Iraq to the international economy in an otherwise financially disconnected part of the world. 

However, the widespread adoption of crypto in Iraq has come up against a host of obstacles facing both crypto users and businesses.

 

 

Crypto in the Holy Land: How Israel and Palestine Are Using Bitcoin and Blockchain

 

In early 2017, when my team and I had just launched Kurdcoin as the first and only cryptocurrency brokerage in Iraq and Kurdistan Region, the number of people who knew and used cryptocurrencies was in the tens and hundreds. The community in the country has grown exponentially ever since.

During the past four years, we have directly provided service to thousands of clients, and there are many Iraqi Telegram and Facebook peer-to-peer trading groups with thousands of members. The crypto use cases have been growing as well.

 

One of the main impediments for blockchain adoption in Iraq has been the sustained hostile attitude of the authorities toward cryptocurrencies without exceptions. During the 2017 bull run, the Iraqi Central Bank issued a statementprohibiting the use of cryptocurrencies – a stance that has remained unchanged to date. Similarly, earlier this year, the Ministry of Interior of the Kurdistan Regional Government issued a statement warning all foreign exchange and money transfer offices to stop brokering cryptocurrencies or they will face legal action.

The outlawing of digital currencies and the absence of a coherent regulatory framework have come at a cost to both users and the local economy, as they have forced people to seek crypto investment opportunities in something of a black market with no accountability or regulatory oversight. 

Thousands of people have fallen victim to crypto scams, Ponzi schemes and other forms of fraud. Tens if not hundreds of millions of dollars of peoples’ money have been stolen by foreign agents or companies posing as legitimate businesses who require to be paid in crypto. That has slowly drained cash from the economy and mostly from already economically troubled regions.

Less than a month ago, for instance, the website of a company calling itself Praetorian Group International, or PGI, disappeared and its team ran away with north of $40 million of investors’ money. It’s just the latest in a string of multimillion dollar Ponzi schemes that turn crypto dreams into nightmares. 

A vicious cycle is created in which the government banned crypto because it’s used in fraud, and fraudsters manage to continue to use it because it’s not regulated. The only way to break this cycle is by introducing a bill to regulate digital currencies and requiring all crypto businesses to be registered. 

Another limitation in Iraq is a general lack of knowledge about cryptocurrencies and blockchain technology within both the government and wider society. At the governmental level, this lack of knowledge has led it to view cryptocurrencies in a completely negative light and mainly as a means for money laundering, fraud and online piracy.

A report by Deloitte about Iraq has underlined that concern, stating that “instead of pushing the cryptocurrencies to the periphery of financial systems, the central banks and other regulators as well as market authorities must play a leading role in making them mainstream.”

 

On the societal level, the problem of general financial and crypto illiteracy means people make poor, uninformed financial and investment decisions and are unable to use cryptocurrencies to their full potential. If cryptocurrency is ever featured at prime time on Kurdish satellite channels, the hosts and participants often show a disappointing lack of knowledge, to the point that some of them do not know the difference between a local scam coin and bitcoin. 

We have tried to mitigate some of these challenges by pushing for regulation through major law firms, increasing knowledge about cryptocurrencies and spreading awareness regarding crypto scams and risks in order to create a better environment for crypto users in the country. 

Further, major exchanges like Binance crypto exchange" rel="external nofollow">Binance, Crypto.com and Coinbase do not provide services in Iraq.

Despite these roadblocks, cryptocurrency use in the country has been constantly increasing. Who can deny the largely untapped market potential?

Read more: Crypto Adoption in Middle East Will Come From Unstable Nations | Nimrod Lehavi

Iraq’s population of more than 40 million is mostly young, with more than 60% under the age of 25. There are more than 37 million mobile cellular subscriptions and internet penetration is above 75%. Although e-commerce, e-banking and digital payments are still major underdeveloped sectors, many young people pay for online shopping and subscriptions with crypto.

Similarly, Iraqi population is largely unbanked, with fewer than 1 in 10 adults having a bank account. Many seem to have turned to crypto as an alternative both for investment and as a store of value, because it’s better and safer in several ways than storing cash up at home. Ignoring the warnings from authorities, businesses are also beginning to use cryptocurrency for transferring money within the country and outside, and companies and wealthy individuals are adding crypto to their investment portfolios. 

Despite a number of challenges, mass crypto adoption in Iraq seems to be inevitable because of the financial opportunities, ease of using crypto for payments and other applications. And it is happening fast.

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Scepticism grows in El Salvador over pioneering Bitcoin gamble

 

Country will be first to adopt cryptocurrency as legal tender next month – but economists are sounding warnings over risks

 

Mat Youkee in El Zonte
Mon 30 Aug 2021 05.30 BST
 
 
 
 
 
 
 
 
 
 
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El Salvador’s bitcoin experiment goes live – as president offers tech support

 

Nayib Bukele tweeted advice as the cryptocurrency became legal tender – not entirely smoothly – but critics call it a big distraction

 

 
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El Salvador’s adoption of bitcoin as legal tender is pure folly

 

Cryptocurrencies are a baffling entity but adopting it as legal tender is the strangest, most worrying aspect of all

 

Fri 24 Sep 2021 06.00 BST

Jeffrey Frankel

 

 

 

 

 

 

 

 

 

 

 

https://www.theguardian.com/business/2021/sep/24/el-salvador-adoption-of-bitcoin-as-legal-tender-is-pure-folly

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IMF warns of global risks from unregulated cryptocurrency boom

 

Greater financial instability, fraud and funding of terrorism likely unless governments toughen supervision, fund says

 

Larry Elliott Economics editor
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On 9/16/2021 at 7:24 PM, PeaceSign said:

I have started using my coinbase card for pretty much everything! The 4  % back is crazy and is legit!

 

Just a follow up, I have been using my coinbase debit card now, since July 2021, and my rewards are at $356.29 cents! AND, Coinbase is going to allow direct deposits in a week!!!! Holla!

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Bitcoin price surges to record high of more than $68,000

 

Other cryptocurrencies such as ethereum also reach records as investors hedge against inflation

 

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On 10/1/2021 at 9:34 AM, umbertino said:

IMF warns of global risks from unregulated cryptocurrency boom

 

Greater financial instability, fraud and funding of terrorism likely unless governments toughen supervision, fund says

 

 
Larry Elliott Economics editor

 

F*** the IMF.....

CL

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Olympic gold medalist Sunisa Lee says she was pepper-sprayed in racist attack

 

The gymnast was waiting for an Uber in Los Angeles with friends when a car sped by and passengers yelled anti-Asian slurs

 

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Exclusive clubs called ‘DAOs’ are popping up online. What’s it all about?

 

We are told these members-only groups are the beginnings of Web 3.0. Are they all they are hyped up to be?

 

Sun 14 Nov 2021 11.21 GMT

Geoffrey Mak

 

 

 

 

 

 

 

 

https://www.theguardian.com/commentisfree/2021/nov/14/exclusive-clubs-called-daos-are-popping-up-online-whats-it-all-about

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Alleged Costa del Sol cryptocurrency con artist arrested

 

Alleged scammer from Latvia had been living a life of luxury on Spanish coast

 

Sam Jones in Madrid
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No pension. No savings. No future. No wonder we’re betting the house on crypto

 

We need a way out. We need a way up. That’s why I – and so many others – have jumped into cryptocurrency with both feet

 

Tue 23 Nov 2021 11.23 GMT

Rohit Thawani

 

 

 

 

 

 

 

 

 

 

https://www.theguardian.com/commentisfree/2021/nov/23/cryptocurrency-bitcoin-ethereum-buying-futures

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Almost $12,000 wiped off value of bitcoin in weekend ‘thumping’

 

Cryptocurrency settles to just below $50,000 after record-high last month, in continuation of recent volatility

 

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