Transfer of bitcoins, sold as a "service"

[jo-lightyear]

Say there is a service of acquiring goods (you pay the service provider a fee, and in return the service provider locates and acquires a 'legal' product for you. eg no drugs, counterfeit products, fraudulent products etc), bitcoin being one of these good - Would it be legal to provide you, the user, with the located bitcoin as a result of the service you paid for?

To clarify, the service charges you say, $100 USD, to locate a product, in this case its .002BTC that you're looking for.  You technically paid for the service and not an actual purchase of bitcoin, is the service provider then allowed to transfer you the located product?

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[MakeMoneyBtc]

I think you should read your post again and modify it because i cant really understand what is your question.So basically you are paying someone to locate you a seller of bitcoin? I dont see the point of that kind of service since you could directly look for a seller and buy from him.

[Strufmbae]

I think you should read your post again and modify it because i cant really understand what is your question.So basically you are paying someone to locate you a seller of bitcoin? I dont see the point of that kind of service since you could directly look for a seller and buy from him.

I would also say or should i say i literally also don't get the idea of this statement of where the heck is the topic going to. what i simply understand is;
"if I am going to buy drugs or any goods in the internet and then i will use bitcoin as the payment, will it be consider as legitimate transaction over person to person not knowing their real identity? and will i be trace if i put my location on transaction history (virtual receipt)"? is the topic simply goes like this?

I'll comeback to this thread if it goes like that.

[jrrsparkles]

Say there is a service of acquiring goods (you pay the service provider a fee, and in return the service provider locates and acquires a 'legal' product for you. eg no drugs, counterfeit products, fraudulent products etc), bitcoin being one of these good - Would it be legal to provide you, the user, with the located bitcoin as a result of the service you paid for?

To clarify, the service charges you say, $100 USD, to locate a product, in this case its .002BTC that you're looking for.  You technically paid for the service and not an actual purchase of bitcoin, is the service provider then allowed to transfer you the located product?

Let me summarize your quote as what I understood.

Someone is offering a serivce which serves you to find a product what you are looking for and for that you need to pay them $100 in bitcoin.

So what you want here in legal section?

[jseverson]

I don't see why it won't be legal, as you're only hiring a third party to order products for you. It's not much different from a standard concierge service, or even apps like honestbee.

If it's illegal to buy Bitcoin in your jurisdiction though, having someone buy them for you is still most likely illegal. It's like how ordering a hit on someone could still also net you a murder charge.

[orions.belt19]

I think you should read your post again and modify it because i cant really understand what is your question.So basically you are paying someone to locate you a seller of bitcoin? I dont see the point of that kind of service since you could directly look for a seller and buy from him.

I would also say or should i say i literally also don't get the idea of this statement of where the heck is the topic going to. what i simply understand is;
"if I am going to buy drugs or any goods in the internet and then i will use bitcoin as the payment, will it be consider as legitimate transaction over person to person not knowing their real identity? and will i be trace if i put my location on transaction history (virtual receipt)"? is the topic simply goes like this?

I'll comeback to this thread if it goes like that.

No, I think his question is whether the service itself is legal if it's done thru a third party.

Technically it is legal for the service provider to give you the said located product or bitcoin. I believe there are already platforms that provide the same service. There's no harm in that. But, from what I see, the question lies on whether Bitcoin is legal at your jurisdiction. To answer OP's question, even if you were to pay the service and not the bitcoin in question, it won't justify the transaction if bitcoin were illegal. If you were to buy drugs from a third party, wouldn't it be the same thing? Even while you pay a person for the buying (the service), the drugs itself makes it an illegal transaction.

[imstillthebest]

Say there is a service of acquiring goods (you pay the service provider a fee, and in return the service provider locates and acquires a 'legal' product for you. eg no drugs, counterfeit products, fraudulent products etc), bitcoin being one of these good - Would it be legal to provide you, the user, with the located bitcoin as a result of the service you paid for?

bitcoin cant be delivered because bitcoin is only exist on a virtual world  .  physical replicas of bitcoin maybe  .

To clarify, the service charges you say, $100 USD, to locate a product, in this case its .002BTC that you're looking for.  You technically paid for the service and not an actual purchase of bitcoin, is the service provider then allowed to transfer you the located product?

no they wont deliver any items to you because you didnt pay for the items  . you only pay for the tracking service   .

So what you want here in legal section?

he is here because he is asking about the legality of the transaction   .

If you were to buy drugs from a third party, wouldn't it be the same thing? Even while you pay a person for the buying (the service), the drugs itself makes it an illegal transaction.

the op already stated  " only legal products , no drugs and alike "    asking of locating for those kind of stuffs are already considered illegal  but that depend on the platform if they allow those things .

[jo-lightyear]

thanks for replying everyone.  I have reached out to my federal financial governing board for further inquiry.

I can see my way of describing the service wasn't presented in the best way.

The question is more so,  if Party A(customer) pays Party B(service provider) a fee to locate a certain item (as an example we will says it's a digital asset with monetary value, something that can be converted into bitcoin somehow),  is it illegal for Party A(customer) to pay Party B(service provider) in fiat currency to obtain this digital asset that may have monetary value in which could somehow be converted to bitcoin.

Hopefully this clarifies a bit more, but as mentioned, I reached out to our government because this would be more so dependent on jurisdiction as mentioned above.

[jrrsparkles]

thanks for replying everyone.  I have reached out to my federal financial governing board for further inquiry.

I can see my way of describing the service wasn't presented in the best way.

The question is more so,  if Party A(customer) pays Party B(service provider) a fee to locate a certain item (as an example we will says it's a digital asset with monetary value, something that can be converted into bitcoin somehow),  is it illegal for Party A(customer) to pay Party B(service provider) in fiat currency to obtain this digital asset that may have monetary value in which could somehow be converted to bitcoin.

Hopefully this clarifies a bit more, but as mentioned, I reached out to our government because this would be more so dependent on jurisdiction as mentioned above.

So it is actually legal in your country right? You may also need to mention the legality of crypto currency on your country to know much about it.

But if you are doing it online you may not need approval from your government I think.

[Harlot]

If Bitcoin is not very accessible to you so kuch that you need  service to find it then I think its a sign that you need to step back from them. You goivernment's country had made it hard for you to simply buy Bitcoin in your country don't you think its a sign that BTC has legal issues with your place. Even thiugh the swrvice is legal while your country is not it makes the trade illegal and prohibited. Plus the fee they are asking for "locating" BTC is unbelievably expensive so expensive that it made me believe what you have found is a scam waiting to happen.

[magneto]

Say there is a service of acquiring goods (you pay the service provider a fee, and in return the service provider locates and acquires a 'legal' product for you. eg no drugs, counterfeit products, fraudulent products etc), bitcoin being one of these good - Would it be legal to provide you, the user, with the located bitcoin as a result of the service you paid for?

To clarify, the service charges you say, $100 USD, to locate a product, in this case its .002BTC that you're looking for.  You technically paid for the service and not an actual purchase of bitcoin, is the service provider then allowed to transfer you the located product?

Is the purchase of bitcoins banned or restricted in your country?

If yes, then I doubt that this argument of "locating goods" will stand up if you ever were to get caught (very unlikely given the non-enforceability of some of these restrictions on bitcoin), because after all, your intent was always to purchase bitcoin, and not to "locate the bitcoin" at some place, if you get what I mean.

However, if we are talking about purchasing goods alone as a service which is actually quite widespread, then I don't see any problems.

At the end of the day, it definitely depends on the legislation in your country and what they say about bitcoin purchase. If it's legal to hold and buy I don't see a reason why you need to go so elaborately just to get your hands on BTC - just trade p2p.

[palle11]

I don't think OP has come back to this thread to make clarification to his question by attempting to guide members so he/she could get a near solution.

To clarify, the service charges you say, $100 USD, to locate a product, in this case its .002BTC that you're looking for.  You technically paid for the service and not an actual purchase of bitcoin, is the service provider then allowed to transfer you the located product?

I will attempt a response from this point. You see in a contract agreement, you don't try to vitiate, change or renage from the terms of the contract. If for instance, your first agreement was to locate a product for you, it stands as that and you are suppose to pay for the service fee.

And for whether he should transfer btc, I would say no because you have to pay up or pay for the btc.

[MakeMoneyBtc]

thanks for replying everyone.  I have reached out to my federal financial governing board for further inquiry.

I can see my way of describing the service wasn't presented in the best way.

The question is more so,  if Party A(customer) pays Party B(service provider) a fee to locate a certain item (as an example we will says it's a digital asset with monetary value, something that can be converted into bitcoin somehow),  is it illegal for Party A(customer) to pay Party B(service provider) in fiat currency to obtain this digital asset that may have monetary value in which could somehow be converted to bitcoin.

Hopefully this clarifies a bit more, but as mentioned, I reached out to our government because this would be more so dependent on jurisdiction as mentioned above.

From what i understand you dont want to waste your time or dont know how to register on an exchange in order to buy digital assets so you want to pay someone with fiat to complete all that process for you.As long as cryptocurrencies are legal in your jurisdiction i dont see what could be illegal in all of this, so the answer to your question regardind digital assets should come from your government.

[audaciousbeing]

I think I have a grasp of what you are saying here. And its more related to the service that the exchange sites are offering in that you are looking to buy a .002btc and they have a way sell it and they charge a fee in that process. Its not that straight forward as you try to paint it because bitcoin is not a physical good that can be touched or seen. Its also not something that can be found randomly then you get a cut for it. Its something that would be earned either buying or working for it. The place where charges is being gotten is the connector between the buyer and the seller. Is it legal, of course it is since you have assumed nothing illegal as the base line.

[HeRetiK]

The question is more so,  if Party A(customer) pays Party B(service provider) a fee to locate a certain item (as an example we will says it's a digital asset with monetary value, something that can be converted into bitcoin somehow),  is it illegal for Party A(customer) to pay Party B(service provider) in fiat currency to obtain this digital asset that may have monetary value in which could somehow be converted to bitcoin.

Are you trying to get around money transmission / AML / KYC regulations by selling services as a broker, rather than as a seller of cryptocurrency? I guess it might work under some legislations but in general I wouldn't bet on outsmarting local law based on a technicality. At least not without consulting a legal professional first.

[goaldigger]

Say there is a service of acquiring goods (you pay the service provider a fee, and in return the service provider locates and acquires a 'legal' product for you. eg no drugs, counterfeit products, fraudulent products etc), bitcoin being one of these good - Would it be legal to provide you, the user, with the located bitcoin as a result of the service you paid for?

To clarify, the service charges you say, $100 USD, to locate a product, in this case its .002BTC that you're looking for.  You technically paid for the service and not an actual purchase of bitcoin, is the service provider then allowed to transfer you the located product?

So i understand it like this. for example, you will send a love letter via courier. The letter would be the bitcoin and the courier is the service provider right? So if the transfer fee would be paid in bitcoin also, would it be considered as service?. I dont know but thats what i understand. Even that is so confusing though, but the answer is yes because thats obvious.

[LeGaulois]

OP, you're not selling a service, you are selling/trading currency which is different, especially from a legislation and taxes point of view. A merchant doesn't pay the same % tax compared for a trader. It's just an example but it's something important since you may have some legal problems after some months. (i.e it could be considered as cheating the govt/taxes dept.)

[dunfida]

The question is more so,  if Party A(customer) pays Party B(service provider) a fee to locate a certain item (as an example we will says it's a digital asset with monetary value, something that can be converted into bitcoin somehow),  is it illegal for Party A(customer) to pay Party B(service provider) in fiat currency to obtain this digital asset that may have monetary value in which could somehow be converted to bitcoin.

Are you trying to get around money transmission / AML / KYC regulations by selling services as a broker, rather than as a seller of cryptocurrency? I guess it might work under some legislations but in general I wouldn't bet on outsmarting local law based on a technicality. At least not without consulting a legal professional first.

A wise thing to do first rather than on rushing up things and proceeding without any legal professional consultation.If you dont like to be cooked with your own oil
then its better to seek out advises because opposing government laws and policies is really like a suicide once you have been caught.

[veleten]

Say there is a service of acquiring goods (you pay the service provider a fee, and in return the service provider locates and acquires a 'legal' product for you. eg no drugs, counterfeit products, fraudulent products etc), bitcoin being one of these good - Would it be legal to provide you, the user, with the located bitcoin as a result of the service you paid for?

To clarify, the service charges you say, $100 USD, to locate a product, in this case its .002BTC that you're looking for.  You technically paid for the service and not an actual purchase of bitcoin, is the service provider then allowed to transfer you the located product?

Let me summarize your quote as what I understood.

Someone is offering a serivce which serves you to find a product what you are looking for and for that you need to pay them $100 in bitcoin.

So what you want here in legal section?

I reckon the main idea here is to create a service
where you can pay some money in fiat to a third trusted party to purchase things legally with bitcoins or bitcoin itself
i.e. if buying bitcoins is illegal under your jurisdiction , you send money to the company and it operates on your behalf
well this is too complicated , imho and won't be too popular a service to create any business
but as an idea for it might be ok

[sheenshane]

Do you mean transferring bitcoins is expensive because of its fees? And charges are now considered as a service which is because you have transferred your bitcoin with a service provider? What I understand in your statement is that you would like to know why d you have to pay
fees while making transactions using bitcoin. Is that correct?

Well if I got it correctly, you actually have the choice not to use the services offered by the third party wallet or whatsoever, but you really wanted to make your transactions convenient, you can have the choice to accept it. If you won't use their offers then you will have hard times to transact.