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Author Topic: Is Bitcoin Legal?  (Read 11790 times)
BillyBobZorton
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May 10, 2015, 04:16:35 PM
 #21

We can see a trend here. Weak economies tends to ban bitcoin. They see Bitcoin is a threat to their weak currencies, they have to ban it.
But here's the catch: Overtime ALL economies will be weak due the fiat scam that it's prone to explode sooner or later, so at some point in history everyone will see Bitcoin as a treat.
What could happen on a global Bitcoin ban? Would people be brave or panic out and abandon it?
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May 10, 2015, 05:20:15 PM
 #22

What could happen on a global Bitcoin ban? Would people be brave or panic out and abandon it?

well, also is abandoned share some movies, music and games over torrent..now check, how many people seeding:) I'm more scared of some alternative similar to bitcoin driven by government or some kind of central bank then bitcoin ban..
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May 11, 2015, 06:41:11 PM
 #23

What could happen on a global Bitcoin ban? Would people be brave or panic out and abandon it?

well, also is abandoned share some movies, music and games over torrent..now check, how many people seeding:) I'm more scared of some alternative similar to bitcoin driven by government or some kind of central bank then bitcoin ban..

It's for sure that the gov will come up with their own "Bitcoin", but hopefully all that does is putting Bitcoin in the spotlight and people don't buy into the officialist state bullshit.
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May 11, 2015, 11:43:59 PM
 #24

We can see a trend here. Weak economies tends to ban bitcoin. They see Bitcoin is a threat to their weak currencies, they have to ban it.
Rather than the threat, the laws in those countries aren't clearly defined regarding bitcoin . Banks and Governments can't pass rules or laws overnight, so most of the banks avoid it. There are always exceptions though. Just because there isn't a clear law defined for digital currencies being used , the image of bitcoin being all gambling and drug related make it worse in those countries.
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May 14, 2015, 05:16:15 PM
 #25

I think its legal mainly depends on how people take it either positive or negative. The people who are against bitcoin will definitely say that its not legal especially the banking systems who views bitcoin as a threat to the fiat currency and the investors of bitcoin would rather say its legal.

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May 14, 2015, 05:51:38 PM
 #26

What could happen on a global Bitcoin ban? Would people be brave or panic out and abandon it?

well, also is abandoned share some movies, music and games over torrent..now check, how many people seeding:) I'm more scared of some alternative similar to bitcoin driven by government or some kind of central bank then bitcoin ban..

It's for sure that the gov will come up with their own "Bitcoin", but hopefully all that does is putting Bitcoin in the spotlight and people don't buy into the officialist state bullshit.

no they will not, it doesn't make sense to have a second centralized bitcoin aka dollar 2.0, they will stay with their dollar and keep printing it like no tomorrow

the same with the blockchain, the strength of bitcoin and the blockchain is everything the government hate
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May 14, 2015, 07:05:57 PM
 #27

I think its legal mainly depends on how people take it either positive or negative. The people who are against bitcoin will definitely say that its not legal especially the banking systems who views bitcoin as a threat to the fiat currency and the investors of bitcoin would rather say its legal.

yeah Government will play the major role in the future of bitcoins as a virtual currency if they think of the betterment of the society and country they would start accepting the bitcoin as a currency but if they are interested in their personal wealth then it will be difficult for bitcoin to survive.

 

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May 14, 2015, 08:53:27 PM
 #28

I think its legal mainly depends on how people take it either positive or negative. The people who are against bitcoin will definitely say that its not legal especially the banking systems who views bitcoin as a threat to the fiat currency and the investors of bitcoin would rather say its legal.

yeah Government will play the major role in the future of bitcoins as a virtual currency if they think of the betterment of the society and country they would start accepting the bitcoin as a currency but if they are interested in their personal wealth then it will be difficult for bitcoin to survive.

Ofcourse its an legal for those who are involved in it positively or else its illegal for government and all those who are involved in money laundering but after all this is blessing for them but the government and media are taking it to the next level so they depends totally on an individual.
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May 15, 2015, 05:44:05 AM
 #29

I Don't think its legal. It can be only legal if Government accepts and confirms that it can be the currency apart from the fiat. Till Government doesnt permit it I guess its illegal as Govt and Law are the highest Authority of any country so without their confirmation its not legal.
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May 15, 2015, 09:19:09 AM
 #30

I Don't think its legal. It can be only legal if Government accepts and confirms that it can be the currency apart from the fiat. Till Government doesnt permit it I guess its illegal as Govt and Law are the highest Authority of any country so without their confirmation its not legal.

No I think its legal. It is decentralised and nobody has control over it and unless if you are not involved in criminial activities or money laundering I think its legal. And talking about government I believe it will take long time that government starts supporting bitcoin.
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May 15, 2015, 07:50:21 PM
 #31

I Don't think its legal. It can be only legal if Government accepts and confirms that it can be the currency apart from the fiat. Till Government doesnt permit it I guess its illegal as Govt and Law are the highest Authority of any country so without their confirmation its not legal.

No I think its legal. It is decentralised and nobody has control over it and unless if you are not involved in criminial activities or money laundering I think its legal. And talking about government I believe it will take long time that government starts supporting bitcoin.

Yeah it is legal. And if you talk about government I don't believe that they will show any interest in bitcoin as they know it can replace the fiat currency in future and their will be full stop to their corruption activities as banks are regulated by govt so they will support banks.
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May 15, 2015, 08:50:07 PM
 #32

We can see a trend here. Weak economies tends to ban bitcoin. They see Bitcoin is a threat to their weak currencies, they have to ban it.
Rather than the threat, the laws in those countries aren't clearly defined regarding bitcoin . Banks and Governments can't pass rules or laws overnight, so most of the banks avoid it. There are always exceptions though. Just because there isn't a clear law defined for digital currencies being used , the image of bitcoin being all gambling and drug related make it worse in those countries.

Ya i think it will take sometime for government and banks to start adopting the bitcoin as a currency and when it comes to government everyone is aware that their process is very slow in implementing it and bitcoin is not getting the support from the government as it deserves.
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May 16, 2015, 05:02:23 PM
 #33

I see a mistake here, Bitcoin is not forbidden in Indonesia (that island above Australia)
In Indonesia, Bitcoin is free to use. But the government doesn't assume that Bitcoin is a currency, but the government not prohibits the people to use Bitcoin. The people is allowed to use Bitcoin, but with their own risk.














 

 

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hunnaryb
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May 19, 2015, 02:56:38 AM
 #34

I see a mistake here, Bitcoin is not forbidden in Indonesia (that island above Australia)
In Indonesia, Bitcoin is free to use. But the government doesn't assume that Bitcoin is a currency, but the government not prohibits the people to use Bitcoin. The people is allowed to use Bitcoin, but with their own risk.

Yes but the fact is Government should start supporting the bitcoin. Why risk should be involved in bitcoins if there is full support from Government. If people knows that Government is in the support of bitcoins it will make people to use it freely without any hesitation.

 

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zendantom
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May 19, 2015, 06:21:24 AM
 #35

We can see a trend here. Weak economies tends to ban bitcoin. They see Bitcoin is a threat to their weak currencies, they have to ban it.
Rather than the threat, the laws in those countries aren't clearly defined regarding bitcoin . Banks and Governments can't pass rules or laws overnight, so most of the banks avoid it. There are always exceptions though. Just because there isn't a clear law defined for digital currencies being used , the image of bitcoin being all gambling and drug related make it worse in those countries.

Bitcoin is of interest to law enforcement agencies, tax authorities, and legal regulators, all of which are trying to understand how the cryptocurrency fits into existing frameworks. The legality of your bitcoin activities will depend on who you are, where you live, and what you are doing with it.

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May 19, 2015, 07:32:57 AM
 #36

Too bad for me I'm color blind. But yeah, the bitcoin legality will be an issue in some other countries sometime soon. Why? Because of its potentials of terrorist using it to fund their agenda.

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May 20, 2015, 06:12:41 PM
 #37

The legal status of bitcoin varies substantially from country to country and is still undefined or changing in many of them.

While some countries have explicitly allowed its use and trade, others have banned or severely restricted it.

That does not mean that people can not use it. Many drugs are illegal and that increases its value and even its use ...

Internet of things.
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May 21, 2015, 05:59:20 AM
 #38

I don't know if I agree with all the green shaded areas like the US where bitcoin is 'taxed'.  In my opinion, taxes impose a restricted use but then again I guess taxes are pretty hard to avoid. 

Still though, the whole thing about bitcoin was that it was going to be anonymous but that has died out as a reality even though there are forks of this or that.  Bitcoin is just like any other currency as far as this thread is concerned.  You can't use all currencies everywhere.  But bitcoin has more features than any other currency.

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May 21, 2015, 07:05:13 AM
 #39

Too bad for me I'm color blind. But yeah, the bitcoin legality will be an issue in some other countries sometime soon. Why? Because of its potentials of terrorist using it to fund their agenda.

terrorist will always find a way to use it, they can just move or do their traffic in a neutral territory that does not care about bitcoin, or where bitcoin is totally free to use, there are still more based on that map
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May 21, 2015, 07:08:17 AM
 #40

Hey! If I am not wrong, Thailand allows people to own Bitcoin since last year. Just that they can only be traded for Thai currency. So, it should fall into the "Restricted use of Bitcoin" category.

Hey. If you are reading this, send me a private message so that I know you're awesome!
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