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Invading, accessing or hacking someone else's btc wallet without the owners permission is fraud, the issue is that you cannot as well report this to the authority because most country see it as illegal so there is no protection for customers .
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All this depends on the legality of bitcoin in your country, in my own country, you can easily send your bitcoin exchange to our local currency and u can transfer to your personal account so i dont see any thing bad in selling your bitcoin.
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The truth is that you cannot force tax on bitcoin users reason because you may not know all the people that are into bitcoin, so how can you collect tax from someone you dont know,if people have been forced to pay tax on bitcoin i dont know but how exactly to pay tax on bitcoin is a complex issue
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The legal of status of bitcoin varies substantially from country to country and is still undefined or changing in many of them .Whereas the majority of countries do not make the usage of bitcoin itself illegal, its status as money (or a commodity) varies, with differing regulatory implications. While some countries have explicitly allowed it's use and trade, others have banned or restricted it.
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The legality of anything bitcoin as a case study is dependent on the persons using it, To my own opinion i think it is legal reasons because most countries use it for the purpose of transaction. It's just like when some will say a countries currency is illegal and the people living in that country still use it for the exchange of goods and services.
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African continent has not witness the high level of cryptocurrency adoption than the united state, Europe,and Asia have seen there are numerous start-up, initiatives, and individuals in Africa that are building an African bitcoin ecosystem by leveraging cryptocurrencies and blockchain technology to deliver innovation services to Africa consumers and businesses. bitcoin in africa is growing and in this guide, you will receive insight into this blossoming frontier market
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If we should tell ourselves the truth Banks are suppose to attack Bitcoin reason because they use our money for their personal business and they give us little or no interest at the end of the month; when you deposit money in the bank you only receive alert that a certain amount has been deposited in your account but u don't see the money, sometimes when u go to the bank to collect that same money they tell you that there is no money in the bank WHO IS WITH YOUR MONEY SINCE IT'S NOT IN THE BANK. Now Bitcoin is depriving them that privilege they have to use our money, Bitcoin will also render them jobless in no time, so they need to fight or attack Bitcoin.
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We don"t pay tax on bitcoin because Government declare's it illegal, but the truth is that we still pay tax on internet connection, office, bank's which we use for withdrawing our Bitcoin, seriously if u ask me indirectly we are paying tax.
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Government can not stop bitcoin reason because it is programmed online, i know they have taught of it but i think it will be a wasted effort, Is bitcoin threatening or destabilizing the government? there are lots of illegal deals that need to be stopped by Government not Bitcoin.
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Bitcoin will not ruin a country and it can be used as a counties currency, if we pay our tax today i believe the government before implementing it as a currency will device means on how to get people to pay tax just as tax was one day implemented and the medium in which the tax will be collected from individuals.
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I am not afraid of KYC but the issue is that am giving out my private information to a company that may or will be stolen which is very risky. Cryptocurrency is a platform where u make money quietly without someone knowing your activities, introducing KYC is like using the bank were cashiers can give out your information for money.
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