Bitcoin Forum

Let's take the discussion here. I would like to ask you some questions, namely:
1. What is bitcoin is legal or illegal?
2. What are the shortcomings of bitcoin?
3. According to you whether bitcoin transaction can be said to be "safe"?

Bitcoin isnt illegal in my country... It is in countries like Taiwan though.

You can take this (http://merkletree.io/) as a reference.

Basically Bitcoin isn't illegal anywhere (as in the law explicitly says "Bitcoin is illegal") but the use of digital currencies is prohibited in some places, or discouraged.

A Bitcoin transaction itself is always safe.

Bitcoin is legal in most countries, but some communist or undemocratic countries do not prove bitcoin as a currency. They fear the damage it will do to their economy rather than good.

It's illegal in some, legal in some. However it's easy to get around the restrictions...

But many said that if the store bitcoin must be careful, though legal, but bitcoin bitcoin prone to theft so for disbursement to the bitcoin rupiah tightened. And advised not to click a link are not clear and provide any data to everyone. Is prone to theft bitcoin true ??

One guy in Taiwan said it was banned. When the rest of the government was asked I don't think they agreed. You have to pass laws and stuff first.

That's correct, bitcoin is legal if you use it legally and it is illegal if you use it for illegal things like gambling or drugs, as drugs and gambling are prohibited in many countries so it is totally individual choice like where they want to use their bitcoins either for good or for bad activities, the government of the countries will never support bitcoins as they consider it as a threat to the banking system.

I can' t imagine why I'm wasting my time responding to nonsense posted by someone like you, but perhaps I'm feeling a bit more generous that usual with the Christmas season.


Yes.


It is new and widely unknown. It requires some attention to security. It requires internet access.


Yes.

It's legal, and illegal at the same time.

In my view point, generally bitcoin is legal, but if there some countries prohibit to use bitcoin, it becomes illegal.
I think Transactions bitcoin safe enough.

1.It's not illegal but it also isn't recognized as legal yet. It's lawless right now.
2.It's not widely accepted yet but great technology, it would change whole monetary system.
3.Yes, it's safe if you know what to do.

i can say that in some countries bitcoin is illegal.
and in some countries it is legal. some countries make it illegal as some people use
it badly like asking ransom money using bitcoin etc.
and yes its safe.

Bitcoin is legal... In my country anyway. Depends on where you live.

1. Please see: Legality of bitcoin by country: https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country

2. For example, one is that it is not anonymous: http://www.bitcoinisnotanonymous.com/
Second could be that is is not fungible: http://www.coindesk.com/bitcoin-fungibility-essential/

3. "safe" in what sense? regarding your privacy or anonymity, or whether there is no double spending, or if your coins can be stolen, etc.?  

It's legal in my country... Not sure where you live though, might be, might not be.

I think it depends on the laws of the country that make it legal or illegal basing on country boundaries

1. in my country its illegal but they dont have law for opening exchange and fast transfer from btc to fiat
2. maybe, cuz its not accept worldwide and that is main purpose
3. define what you meant for "safe"

1. Legal - details on legality by country: https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country

2. Anonymity (lack thereof), security, wallet structure is complicated thus easy for people to "lose details" required to access their funds

3. Yes, as safe as using cash.

1. bitcoin legal course, you can see that 35 more states legalize bitcoin.
2. bitcoin shortage of course at the time of the transaction and the transaction confirmation.
3. virtually all secure transactions, I have never seen a bitcoin transaction was canceled because bitcoin is lost or hacked by third people.

All the money/currency are legal in this world by nature. Only the actions how we are using it affect its legality.
Bitcoin is just a online currency. Basically it is legal.

The safe bitcoin transactions only depend on how securely we are using our wallets. If we secure our wallets and password then we can transact bitcoins always safely.

Why would it not be legal? In most countries it's either classified as a commodity or a currency... you can move between these countries as you choose. The governments can ban it

as much as they want to, but it would still exist and it would still be legal in some countries. The shortcomings with Bitcoin, is the pseudo-anonymous nature. Why?... Because it can

be used more easily for criminal activities. It is safe to use it, if you protect it properly. {Buy a hardware wallet like the Trezor for more secure daily transactions and put the

majority of your investment coins in cold storage.  ;)

it's usable, not matter what the government of that country think, they cannot stop it period

what is missed is an evolution of itself, that solve known issues, such block limit, easy usage for average joe and mostly security related to it

trasnaction are safe yes, i would argue they are safer than bank transaction

Agreed. Bitcoin is banned/partially restricted in many countries however the Bitcoin users just use Bitcoin anyway.

Yes, people who are interested use it ignoring the rules and else ,i too tried many casinos using vpn's or tor's cause they were banned in my country.
But there are minority of them who banned bitcoin to an extent.

That wikipedia page is interesting. It looks as if the problems occur when you exchange Bitcoin for fiat. I guess the safest option is to save Bitcoin, or use it to buy goods or services.

Bitcoin is legal in my country.
Anyhow Bitcoin transaction cannot be said as safe at any rate.

bitcoin very clearly legal. but if used for criminal activity then it is called illegal.

1. Legal in my country but in some coutries it has been banned to exchange into fiat
2. the technology behind it is vast but due to online wallet it is now being easier to understand
3. Bitcoin transaction is more than any other payment processor transaction as every transaction is get registered in public ledger

You're absolutely right . But, To call that bitcoin is illegal, we can't decide only from that point. Many reason bitcoin can be call illegal. Such as law of government, used to gambling ( gambling in my country is illegal) or anything else.

To me bitcoin is not illegal in any way. It is just a form of digital currency that is gaining popularity due to the fact that we are growing in terms of technology. I can only say that the major shortcoming of the bitcoin is lack of a body that will be used to monitor the demand and supply of the coins in the economy, just like any other currency, it needs too to be regulated. Bitcoin to me is very safe and can be used greatly online.

All point of bitcoin is not to have any restrictions, regulations, censorships placed on it by a third party body. If bicoin's demand and supply will get controlled by some third party organization than it means bitcoin failed.

Frankly, I don't care at all if BTC is legal or not. Why should it matter? Drugs are illegal in most places, but that doesn't prevent millions from using them. Then, what's law? In some countries bigamy is forbidden, in some others it's legal. Just like sex with minors. Or income tax, which doesn't exist in some countries. People living in places where BTC is illegal always have the option of moving out if they fear being caught.

I guess in some countries there are proscribing bitcoin and some are legal, it all depends on the thinking of the country, whether bitcoin is used for positive or negative things

It's legal If you not think it illegal.

But I have read in one of the forums that one of the shortcomings bitcoin is security. Banya bitcoin accounts hacked by people who are not responsible, and there is also a balance bitcoinnya taken. Does it really happen? I'm also wary of it

There is a different cetween illegal and law enforcement hunting users.
While some countries try to make it illegal (bangladesh, russia) law enforcement can only seize your bitcoins if they are fortunate.

It doesn't matter to me. I still use it.

whether it is legal or not really depends on the country. some country disagree the use of it and even ban it. also depends on what u use the btc for. some use it for drugs which turns out to be illegal etc.

Yes indeed if used for illegal drug that of course, but I mean it's illegal or legal system. Is the bitcoin system has met as a medium of exchange and is in conformity with the provisions of each country. Because I wondered why there are countries that agree and some who disagree when all the exchange rate valid in all of the country such as credit card, bank, etc.

Their centralized governments discretionarily support or ban the use of bitcoin in the countries. Credit card, bank fully complies with the regulation and is accepted in worldwide. They have developed for many decades to reach today's level. Bitcoin is still new, not perfect yet to let ppl feel comfortable to use its system. So there are huge differences among them.

bitcoin is as safe as a bank note...
if you keep it secure where no stranger can access it.. then its yours for life.

but if you store the only copy of the private key on a phone and not protect youself from pickpockets. then its gone.
so the same way you would back up a copy of your phonebook contacts, backup your private keys.. then if phone is stolen, you still have backups.

if your using a computer its much the same as having your credit card details saved to your desktop. be cautious about who uses your computer and what programs you download.

if you have smart ways to keep your private keys safe then bitcoin is more secure than any bank account any credit card or any bank note. because if you think someone might get access because you left a copy of your private key in clear view.. you can move the funds to another private key in seconds

as for the is it illegal question.
most countries have not banned bitcoin to be used by its citizens.. most countries who have set regulations have done so mainly to avoid BANKS from investing in bitcoin, because the government wont insure them against bitcoin losses as part of their banking licences. which has nothing to do with citizens personal/private activities.
asia and russia have banned their banks, not their citizens

According to the IRS, here in the USA, Bitcoin is legal, however the IRS considered it an asset.  The IRS also has certain rules and regulations where Bitcoin is being used as a currency, which covers some of the banking rules of bitcoin.  It is very detailed and makes it very usable.  As far as Bitcoin in New York, we have recently read some strict rules which govern it as a currency.  As I stated in another thread, I believe these rules were set in place to defer the use of Bitcoin, but I can not be sure.  All information is from my research and should not be taken as or considered what the laws are.  Please do your own research, for I will not be held responsible for any actions you may take against the laws around Bitcoin.

Bitcoin is legal but it can be easily used for criminal activities. They made it illegal to use in many countries. Fuck you all criminals

In some countries, bitcoin is illegal but for me it's not illegal because it's like real money for me in real life. can buy anything and doing it in online mode.

I think bitcoin is legal. because getting bitcoin needs with hard work and capital. because bitcoin obtained instead of things that are not good. I said bitcoin is legal to bitcoin.

1. In the United States it is legal
2. It isn't well known yet and many people use Bitcoin for shady purposes
3. Yes. Bitcoin transactions are secure

Means if so what do you say do not rule out the possibility that bitcoin will someday be legalized throughout the country if all the systems have been developed such as banks, credit cards, etc?

As far as bitcoin being illegal it's not in the US! But you are able to do illegal purchases with bitcoin online that is where you cross the legal boundary for any country.

Depending on where you are, Bitcoin is legal in many countries. I believe someone said this.

The illegal is to use Btc for things that are already illegal.

I think it depends of your country if where do you live but in my country it legal and anytime you can use it or withdraw it as fiat..

Well,it depends on the country you're from.Speaking Logically,its not illegal but due to its usages for the negative things like IS so it could have been banned by a few countries I guess.Its not illegal as per as the World Laws are concerned.

Bitcoin is legal in my country, but if scammed, the country will not give a single f**k

if they scam it online it's obvious, it's practically impossible for them to trace it, but on real life, if they stela you , your phone with bitcoin inside, i'm sure you can do something

1. What is bitcoin is legal or illegal? Bitcoin is legal,but some countries prevent bitcoin and not accept bitcoin as primer currency.
2. What are the shortcomings of bitcoin? The shortcoming is price raises,and bitcoin halving.
3. According to you whether bitcoin transaction can be said to be "safe"? Almost all transaction is safe,according your security aspect.

Legal or illegal depends on who is stronger.

If people are stronger than government, what people say is legal. If government is stronger, government is legal.

In America, people can use the government to overcome, if they do it right.

:)

I think it's relatively safe to send and receive BTC, it's legal in most of the world (nothing came and said it's not legal yet)...

Bitcoin is legal in most of the countries but in some countries it is not allowed to use bitcoin.
Once the bitcoin transaction gets few confirmation it is safe enough and you should not worry about it

Bitcoin is not illegal at any country   in the world..Most negative view on bitcoin has Russia


Bitcoin transactions are very safe,you just have to check doeas btc adress is correct

yes there is no labeling bitcoin is illegal, but there are still many countries that have yet to recognize the payment system using bitcoin. because the government does not guarantee.

Bitcoin illegal in my country, but now most of people have known about bitcoin, and use bitcoin for transaction. And transaction with bitcoin is scure, safe, and very simple.

 

For my country has same problem i mean not legal but we can use it
and bitcoin will legal for future and it will getting easy to our life .

Bitcoin is legal in most countries, I think just one country banned it's citizens from interacting with bitcoin and I don't think another country will do that soon.

1. What is bitcoin is legal or illegal?

Legal. I can't see why it would not be so.

2. What are the shortcomings of bitcoin?

Not really easy to use and obtain. There isn't many places to spend it, and you get not much advantage by spending it instead of fiat.

3. According to you whether bitcoin transaction can be said to be "safe"?

I think they are quite safe, as it depends of a public ledger. But not reversible, so think it twice before sending.

First when we heard about Bitcoins then the impression was like something illegal or not safe but when we know exactly about the use and benefits, transactions then then we have to believe as it is legal.

If I may know where your country? That means bitcoin growing rapidly in your country it's very nice. But whether bitcoin really safe? Is it possible that hackers can hack into your wallet address? Because I think all the things that require to log in highly vulnerable hacked

I can answer to your first question. Bitcoin is illegal (if named in this way publicly) when is banned by the Authorities of a given country. Bitcoin is legal when is fully or partially regulated by the responsible Authorities in a given country and is named as legal or with other names which give it the right to be used in some way (whatever can be) within the given country. Bitcoin has any kind of status (normally this situation can be called as ignored) in the given country when the Authorities have any kind of attention about it. In other words simply ignoring it and what is made with it from its users.

I think this depends on country where you live but, realistically, bitcoin is anonymous and governments can't control what you do with your bitcoin funds.
Only if you cash out your bitcoin funds to your bank account bank can see it and report to authorities if anything suspicious.
So, if you don't withdraw your bitcoin funds I don't see any legal problem for you.

Bitcoin is legal is some countries, and illegal in others. It all depends on whether the government of that country wants its people to use, or not to use Bitcoin. Even if it is illegal in your country, you can still use it. They really have no way to track you down. It really makes no difference to Bitcoin, whether it is illegal or not.

In my country I don't know if there's really a statement that telling bitcoin is legal in our motherland. As long as there's no statement saying that btc is banned and we can use bitcoin in transaction without having a problem in government, Maybe I can say that btc is legal here.

according to this bitcoin is legal in my country and i dont know a reason why it should be banned

1.Yes it's legal in some countries and illegal in some but that really depends on usage,if you use it for illegal purposes then that will be wrong and you can punished for the same.
2.I think not many people know about bitcoins globally,so it is not widely accepted by people as of now that's the major shortcoming.
3.Absolutely,Bitcoin transactions are 100% safe as well as instant with less fees but there's one drawback these are irreversible and that's why scammers are more attracted to bitcoins

Well, I think all countries have laws each about bitcoin, perhaps bitcoin be illegal because of the use that can be used for illegal transactions, so some countries anticipating to mitigate the situation, but I think legal and illegal it depends on the viewpoint of how to use alone

It depends on the countries but at the end of the day it doesn't really matter except for exchange action. They can only regulate the end points, not what happens in the actual Bitcoin economy, that is just impossible to control.

Yeah, it what they was said . Country have a important role about bitcoin legal or illegal

bitcoin is legel in many countries,but in some countries bitcoin also illegal.
bitcoin will be halving on august,and it will make some change to bitcoin,lets see what happen next.
safe transaction is between exchange and wallet,its completly safe,because you can ask help when something happen.