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Author Topic: [Legality of bitcoin] Can a country really control the use of bitcoin?  (Read 279 times)
Ozero
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April 21, 2020, 02:33:57 PM
 #21

According to international law and civil law of most states, any business activity is considered legal until there is no special regulatory restriction on it. Therefore, if in any country there are still no laws and regulations regarding the regulation or prohibition of cryptocurrency, its circulation should be considered legal.
In general, the government and legislators of a particular state can significantly limit the circulation of bitcoin and other decentralized cryptocurrencies, however, it is hardly possible to fully control it without banning or disabling the Internet. However, if the state takes its tough measures with respect to cryptocurrency, then there will also be no mass use in this state.
coupable
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April 21, 2020, 02:34:48 PM
 #22

Places like Egypt, Morocco or Algeria have set bitcoin use, illegal. What exactly stops people that live there to do bitcoin transactions since no one controls the network? And yes, without "cutting" their internet connection.

Prison time or even worst stuff, I don't know how fuck up the law is in those countries. I mean you can keep it underground but again it is a risk.

Why exactly is it risky? How will they watch you doin' it?
They won't watch you doing it, but they can work on network analysis and once relating a btc address to a real person they can apply the law. This looks dumb and barely to happen unless you are suspected or accused for something else. In my country, Tunisia, the use of crypto is not officially forbidden by law but we, as tunisian crypto users, know how the authorities can apply other laws related to monetary system of the country to accuse any suspected use of crypto.
That's unfortunate for you guys but I hope that those countries and their respective governments will realize the importance of Crypto Currency especially in a world the keeps on evolving and run by technology. In my country, the use of Crypto Currencies such a Bitcoin, Ethereum, and other altcoins are not forbidden but our government warns us to be vigilant in using it so we don't fall prey for any scam activities of scammers.
It's more weird that your government advice you the vigilance toward crypto use. It's even more funny than to ban its use.
Bitcoin is a decentralised system which is not governed by any authority and no one can stop someone using it. If the government advice people to stay away from bitcoin or apply punishment laws, it's the sign of fear of losing control over citizen funds and ownerships. Bankers will always support the forbid of bitcoin .
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April 21, 2020, 05:02:17 PM
 #23

Places like Egypt, Morocco or Algeria have set bitcoin use, illegal. What exactly stops people that live there to do bitcoin transactions since no one controls the network? And yes, without "cutting" their internet connection.
Preventing people from using Bitcoin at all is impossible because of the very nature of Bitcoin. You cannot exactly ban and block it since it's so decentralized. However, it's quite easy to make sure that people barely use it. If the punishment is too high, the vast majority would not risk it, and thus Bitcoin can be effectively restricted in the country. I don't know what are the laws in these countries and how big of a crime it's there, but I sure would not risk using BTC even if there was a, say $1000 or more fine for that, let alone the serious risk of ending up in prison.

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