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Author Topic: bitcoin is legal or illegal?  (Read 2563 times)
Ryananda
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December 30, 2015, 01:52:17 AM
 #1

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"?
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December 30, 2015, 01:53:18 AM
 #2

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.
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December 30, 2015, 01:55:47 AM
 #3

You can take this 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.
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December 30, 2015, 02:16:39 AM
 #4

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.

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December 30, 2015, 02:20:35 AM
 #5

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

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December 30, 2015, 02:20:52 AM
 #6

You can take this 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.
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 ??
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December 30, 2015, 02:23:10 AM
 #7

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.

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December 30, 2015, 02:27:13 AM
 #8

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.

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.
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December 30, 2015, 02:31:58 AM
 #9

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.

Let's take the discussion here. I would like to ask you some questions, namely:
1. What is bitcoin is legal or illegal?

Yes.

2. What are the shortcomings of bitcoin?

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

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

Yes.

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December 30, 2015, 02:32:30 AM
 #10

It's legal, and illegal at the same time.
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December 30, 2015, 02:44:35 AM
 #11

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.

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December 30, 2015, 02:50:36 AM
 #12

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"?

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.
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December 30, 2015, 02:52:21 AM
 #13

bitcoin is illegal for few country due to the government regulation,but legal in the most countries,but even it's illegal in your country you can easily bypass it

bitcoin are safe if you know what you're doing exactly, try not to send anything to person who you dont even know

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December 30, 2015, 02:55:29 AM
 #14

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.


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December 30, 2015, 02:56:05 AM
 #15

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

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December 30, 2015, 05:43:09 AM
 #16

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"?

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.?  

Bitcoin is NOT anonymous: http://www.bitcoinisnotanonymous.com
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December 30, 2015, 05:43:43 AM
 #17

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

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December 30, 2015, 05:47:32 AM
 #18

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


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December 30, 2015, 06:12:08 AM
 #19

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"?

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"



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December 30, 2015, 06:44:07 AM
 #20

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"?

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.

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