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Goverments CANT control cryptocurrency. And how to evade goverment regulations

Im from Argentina. My country’s goverment strongly believes in controling prices, limit what a person can do with their money, corruption and taxes to fix everything. (We have 60% aprox of public spending in comparision with private spending, you can see our country’s economy will not recover. Not even the fundamentals are done properly). To put you more in context, we have the argentinian peso, its a dead currency, they print like crazy and we have 40% ish of inflation rate per year. What would a blindfolded monkey do? Well, it will invest in other currency much more stable, and its the american dollar, most cars and most houses are sold in dollars in Argentina, which means people evade the argentinian peso and invest on the usd. What does the goverment do instead of promoting our currency? they limit to 200usd per MONTH as a maximun in how much you can invest. We are condemn on a currency like argentinian peso that only goes down.

Solution? Cryptocurrency. Our goverment has been trying to control crypto and find ways to tax it. They cant. Not only most people here dont even know what cryptocurrency is, less alone tax it. But that wont stop them from trying. Most tax regulators, AFIP, called in Argentina, know everything about their population. Your bank account, how much you spend on ice cream, how much energy you consume in your house, whatever is needed only to take money from you. Free market doesnt exist here. Whatever you buy from a fork to a car, has 60% taxes on it. And many countries in South America, Africa, Asia, Eastern Europe, try to do the same. Crypto is the future because it means FREEDOM, it takes away the bonds of autocratic goverments on their population. BUT, big BUT, you need to follow some guidelines in order to not be caught. You cant just find your local exchange and buy crypto, or use your credit card to buy crypto, that is too obvious, and in many countries like India and China, can save your life!

There it comes the P2P system.

[https://www.youtube.com/watch?v=ie-qRQIQT4I&ab_channel=Lisk](https://www.youtube.com/watch?v=ie-qRQIQT4I&ab_channel=Lisk) (video explaining the system)

Its impossible to ban crypto with the P2P system. There’s no way to track it. Argentina has been trying for years to tax Crypto (whatever doesnt work here, taxes are applied, and when it goes even worse, its fault of the previous goverment).

Things i use in Argentina, perhaps it helps you too if you have the same problem:

Use VPN’s to hide your ip and use exchanges outside your country (Binance, or others)

Apply the same thing to wallets. Try not to use wallets that can be tracked to you (if your goverment really goes hard con crypto), dont buy hardware wallets in your country, proably tax regulators know all you do already. Use software wallets with their server in other countries like exodus.

Only use P2P system to deposit and withdraw money. For the bank you are only sending money to another person in the same country, then the bank sends the info to the tax regulators/goverment, its just a common transaction.

If you want to really ban crypto, you have to ban the internet.

TDLR: Use p2p if you live in a shitty country like me



View Reddit by Argentino_FelizView Source

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7 Comments

  1. Thing is i wouldn`t put it past capable government of hindering usage of cryptocurrencies in their country. Think about it this way, if they ban purchases with crypto at business/restaurants/shops etc, a lot of the utility would disappear.

    Adoption is nothing when an asset has little use.

  2. Regarding hardware wallets, you can buy one with cash and not get flagged. You can also buy a Trezor from the official site with Bitcoin or a credit card issued outside Argentina and get it delivered in a week or so. It’s also cheaper and more secure than buying it locally.

  3. Hola OP, thank you for this post – I’m a UK national who came to Argentina on a fixed term employment contract before Alberto doomed everyone further with the PAIS tax. I’m now worried that when I leave next year, I’ll have pesos here that I can never transfer out.

    I’ve looked at crypto as a way of buying BTC (for example) with my pesos and withdrawing to GBP. Do you have any experience of withdrawing to foreign currencies outside Argentina? I assume with P2P trading you feel safe and you’re not subject to the 65% tax right?

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Daily Bitcoin News April 17th, 2021