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Author Topic: bitcoin is legal or illegal?  (Read 2562 times)
yoona
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December 30, 2015, 07:36:02 AM
 #21

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. 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.

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December 30, 2015, 07:42:03 AM
 #22

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"?

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.

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December 30, 2015, 08:25:00 AM
 #23

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.  Wink

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December 30, 2015, 09:04:17 AM
 #24

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
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December 30, 2015, 09:05:10 AM
 #25

it's usable, not matter what the government of that country thing, 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.

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December 30, 2015, 09:08:37 AM
 #26

it's usable, not matter what the government of that country thing, 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.
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December 30, 2015, 09:10:53 AM
 #27

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.

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December 30, 2015, 09:35:00 AM
 #28

Bitcoin is legal in my country.
Anyhow Bitcoin transaction cannot be said as safe at any rate.
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December 30, 2015, 09:49:23 AM
 #29

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

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December 30, 2015, 09:52:17 AM
 #30

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

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December 30, 2015, 10:42:58 AM
 #31

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

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.

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December 30, 2015, 11:17:36 AM
 #32

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.
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December 30, 2015, 11:44:05 AM
 #33

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.

Bitcoin is NOT anonymous: http://www.bitcoinisnotanonymous.com
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December 30, 2015, 11:57:54 AM
 #34

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.
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December 30, 2015, 12:30:53 PM
 #35

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

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December 30, 2015, 01:48:39 PM
 #36

It's legal If you not think it illegal.

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December 30, 2015, 02:00:41 PM
 #37

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.
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
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December 30, 2015, 03:32:11 PM
 #38

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.


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December 30, 2015, 05:02:02 PM
 #39

It doesn't matter to me. I still use it.
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December 30, 2015, 05:08:27 PM
 #40

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.

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