How to deal with the situation of non-recognition?

[Dudeperfect]

Hi,

Since my friends have an idea that I am associated with bitcoin and I transact in it, they send me the stuff from the media if they come across. In most of the media pieces, bitcoin is mentioned as 'bitcoin is an unrecognised currency' and at that point, the people misunderstand that if it's not recognised (legal) yet then it's definitely illegal. I am bit confused, how to deal with such situation?

Best
Dudeperfect

[pedrog]

Why do you have to deal with it?

You can check this article for legality of bitcoin:

https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory

It has been declared a currency in a lot of places, for legal purposes, I mean.

[soul-impact]

Hi,

Since my friends have an idea that I am associated with bitcoin and I transact in it, they send me the stuff from the media if they come across. In most of the media pieces, bitcoin is mentioned as 'bitcoin is an unrecognised currency' and at that point, the people misunderstand that if it's not recognised (legal) yet then it's definitely illegal. I am bit confused, how to deal with such situation?

Best
Dudeperfect

I think that depends entirely on your understanding and ability to present. We all are legitimate bitcoin, it has been accepted by many countries and will be more. Although your country has not accepted bitcoin, but the government does not prohibit it, it's like something out of the law, it's unmanaged.

[DoublerHunter]

Hi,

Since my friends have an idea that I am associated with bitcoin and I transact in it, they send me the stuff from the media if they come across. In most of the media pieces, bitcoin is mentioned as 'bitcoin is an unrecognised currency' and at that point, the people misunderstand that if it's not recognised (legal) yet then it's definitely illegal. I am bit confused, how to deal with such situation?

Best
Dudeperfect

I think it is good to explain bitcoin with your own words and try to explain that bitcoin is legal and we can do a lot of things with it. Bitcoin is not yet recognized because the media is not that focus on the technology stuff but if you do a good explanation then you will make their mindset opposite and they will understand bitcoin very well.

[Dudeperfect]

Well, yes in many countries bitcoin is legal but in that case it is authorised and recognised by the governments in my country, government has not yet recognised the bitcoin in terms of law (not given legal status) thus it is misconception in minds of most of the people (thanks to the media) that it is illegal to use it.

[soul-impact]

Well, yes in many countries bitcoin is legal but in that case it is authorised and recognised by the governments in my country, government has not yet recognised the bitcoin in terms of law (not given legal status) thus it is misconception in minds of most of the people (thanks to the media) that it is illegal to use it.

It comes from ignorance of people. People have bad habits, when they do not know about something, they become scared, they do not understand bitcoin, so they see it as a ghost, they fear breaking the law.

[aso118]

Hi,

Since my friends have an idea that I am associated with bitcoin and I transact in it, they send me the stuff from the media if they come across. In most of the media pieces, bitcoin is mentioned as 'bitcoin is an unrecognised currency' and at that point, the people misunderstand that if it's not recognised (legal) yet then it's definitely illegal. I am bit confused, how to deal with such situation?

Best
Dudeperfect

You need to educate people. The people who write those media articles are no experts, and at times giving a background about Bitcoin to your friends helps. This may be tiresome, but if you do explain it to your friends, I am sure they will pick up the threads. This is how Bitcoin adoption increases.

[FruitsBasket]

Hi,

Since my friends have an idea that I am associated with bitcoin and I transact in it, they send me the stuff from the media if they come across. In most of the media pieces, bitcoin is mentioned as 'bitcoin is an unrecognised currency' and at that point, the people misunderstand that if it's not recognised (legal) yet then it's definitely illegal. I am bit confused, how to deal with such situation?

Best
Dudeperfect

You need to educate people. The people who write those media articles are no experts, and at times giving a background about Bitcoin to your friends helps. This may be tiresome, but if you do explain it to your friends, I am sure they will pick up the threads. This is how Bitcoin adoption increases.

Bitcoin will be on the news soon it is amazing me with the current price growth and I am sure the media will cover that topic too. I do agree with you that we need to tell everyone about bitcoin and crypto, it is the feature of decentralization.

[bamboylee]

It was worse a few years ago. Bitcoin was labeled money for illegal transactions only. Slowly over the years, that has changed and countries are starting to recognize bitcoin. Now, if your friends believe those fud news, then let them be. You know better.

[Kemarit]

Well, yes in many countries bitcoin is legal but in that case it is authorised and recognised by the governments in my country, government has not yet recognised the bitcoin in terms of law (not given legal status) thus it is misconception in minds of most of the people (thanks to the media) that it is illegal to use it.

Your misconception is wrong. Mainstream media is still branding bitcoin as illegal (Ponzi, HYIP, etc). but it is not. I don't know which country you guys are from but you have to understand that bitcoin is global. No country or government can stop someone from using bitcoin. Again, media is not a source of information specially about bitcoin. Since you are already a member here, feel free to go around this forum and try to learn as much information as you can. Bitcoin is not illegal to used.

[iram3130]

It was worse a few years ago. Bitcoin was labeled money for illegal transactions only. Slowly over the years, that has changed and countries are starting to recognize bitcoin. Now, if your friends believe those fud news, then let them be. You know better.

We need to educate those people about the Bitcoin universe. People are still ignorant about bitcoins and other cryptocurrencies, once they understand how and why people has to use cryptocurrencies then they'll gladly accept Bitcoin.

[Daniel91]

Hi,

Since my friends have an idea that I am associated with bitcoin and I transact in it, they send me the stuff from the media if they come across. In most of the media pieces, bitcoin is mentioned as 'bitcoin is an unrecognised currency' and at that point, the people misunderstand that if it's not recognised (legal) yet then it's definitely illegal. I am bit confused, how to deal with such situation?

Best
Dudeperfect

You don't need to explain or complicate to much.
Just simple say to your friends than bitcoin is like virtual money or tokens, which we can use to buy some digital staff online or exchange for real money and withdraw to bank accounts.
At that moment, we report it as ''second income'' to our tax authorities and pay taxes.
So, if you explain in this way, everybody will understand.
You can add that we have also bitcoin ATM and debit cards, many merchants which accepts bitcoin etc.

[Xester]

Hi,

Since my friends have an idea that I am associated with bitcoin and I transact in it, they send me the stuff from the media if they come across. In most of the media pieces, bitcoin is mentioned as 'bitcoin is an unrecognised currency' and at that point, the people misunderstand that if it's not recognised (legal) yet then it's definitely illegal. I am bit confused, how to deal with such situation?

Best
Dudeperfect

It doesnt mean that if it was not recognized by the state it was already considered illegal. Actually it was the opposite, if the state recognizes it and define it as illegal then it will be illegal but if there was no recognition then it implies that there are no laws that impends the use of it. You can make Philippines as an example, the state has not made any declaration to accept and use of bitcoin but we Filipinos were not comprehended when we use it.

[talkbitcoin]

Well, yes in many countries bitcoin is legal but in that case it is authorised and recognised by the governments in my country, government has not yet recognised the bitcoin in terms of law (not given legal status) thus it is misconception in minds of most of the people (thanks to the media) that it is illegal to use it.

well you can not change that. some people are just going to continue believing what they want to believe in.
but it doesn't hurt to check with the laws of your country, they may have said something and you are unaware of. for example go look for a website or something belonging to the police or something that has the laws in it and search to see what their stance is. you may find some interesting stuff.

[davis196]

Hi,

Since my friends have an idea that I am associated with bitcoin and I transact in it, they send me the stuff from the media if they come across. In most of the media pieces, bitcoin is mentioned as 'bitcoin is an unrecognised currency' and at that point, the people misunderstand that if it's not recognised (legal) yet then it's definitely illegal. I am bit confused, how to deal with such situation?

Best
Dudeperfect

People are free to buy and sell bitcoins and it doesn`t matter if it`s recgnised or unrecognised by some
governments or central banks.
This confusion usually scares newbies and stop mass btc adoption.

[Kevin77]

Well, yes in many countries bitcoin is legal but in that case it is authorised and recognised by the governments in my country, government has not yet recognised the bitcoin in terms of law (not given legal status) thus it is misconception in minds of most of the people (thanks to the media) that it is illegal to use it.

well you can not change that. some people are just going to continue believing what they want to believe in.
but it doesn't hurt to check with the laws of your country, they may have said something and you are unaware of. for example go look for a website or something belonging to the police or something that has the laws in it and search to see what their stance is. you may find some interesting stuff.

Basically bitcoin does not need any recognition still many countries unveiled their stand and approved bitcoin as digital asset. When bitcoin dealings are happening among friends and known people and not touching bank involvements, I guess we can completely ignore that part of recognition by governments.

Still, new people may take more time to understand this part. But over time, the familiarity of bitcoin ecosystem will make them understood.

[Ewox]

The best thing you could do is to ignore them, anyways you are not getting any benefits from them if they believe you or not. It may be illegal for some countries now because it is not recognized by the government but there are other countries too that doesn't see bitcoin as illegal too.

[jc89]

Bitcoin as an unrecognized currency merely means that it is not yet a full-pledged currency. Legality is not of a big deal here. However, some might misinterpret the term as illegal just like OP said in the first place. We, bitcoin users, do not have to make this an issue for this is not a big deal at all. Bitcoin will find its way to become a real and full-pledged currency. We do not have to deal with this because all will be what it should be at the right time.

[Wendigo]

Are there online marketplaces that accept Bitcoin as a payment method? Yes there are. Are there offline businesses that accept Bitcoin as a payment method? Yes there are. I think of Bitcoin as a digital token of value and not currency at the moment but that doesn't make it illegal. It has value and people are interested to barter goods against that value. Heck you could buy stuff with other digital tokens like items from online video games and accumulated VIP credits in sportsbook websites. Does transacting in such ways make it illegal? I think not.

[Sniper44]

that is the media effect that will be with us for many years to come. many don't want to see bitcoin succeed because their profit is threatened. although if we want to be fair, this has been reduced a lot in the recent years. there was a time when most news was dark about bitcoin. now they are grey