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Author Topic: Is mining illegal ?  (Read 21407 times)
liseff3
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September 28, 2017, 10:10:21 PM
 #141

I know mining is a great source of earning bitcoin with some hardware stuff but i am not sure about one thing is mining is illegal in all country ? Like in my country mining is not  legal i just wanted to know why its not considered as legal work ?
Because, the central bank in every country doesn`t want the currency of the country replaced with virtual currency, even today there are still many bank officials who deny the existence of virtual currency including bitcoin, which eventually became a decision "anyone who uses virtual currency including bitcoin is an action illegal "quoted from one of the bank officials.
This certainly has an impact on anything related to bitcoin including mining.

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September 28, 2017, 10:32:22 PM
 #142

I know mining is a great source of earning bitcoin with some hardware stuff but i am not sure about one thing is mining is illegal in all country ? Like in my country mining is not  legal i just wanted to know why its not considered as legal work ?
Because, the central bank in every country doesn`t want the currency of the country replaced with virtual currency, even today there are still many bank officials who deny the existence of virtual currency including bitcoin, which eventually became a decision "anyone who uses virtual currency including bitcoin is an action illegal "quoted from one of the bank officials.
This certainly has an impact on anything related to bitcoin including mining.
They do not want to recognized the digital currency and do not treat as legal currency because bitcoin has no real paper money that people can hold and used offline. But luckily here in my country bitcoin is not ban even our government is not attached in this kind of currency that is why there are some individuals are building their own mining rigs to increase their income in bitcoin but they are those people have huge capital or rich people can buy high end materials for the mining site.

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September 28, 2017, 11:50:03 PM
 #143

I know mining is a great source of earning bitcoin with some hardware stuff but i am not sure about one thing is mining is illegal in all country ? Like in my country mining is not  legal i just wanted to know why its not considered as legal work ?
Well, I guess it depends on the country where we belong, because every country has it own law. There are some country that mining of bitcoin is legal and there are also not. I guess those country that against in Bitcoin mining are also against in bitcoin because they believe that Bitcoin is being used or run by evildoer.

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September 29, 2017, 12:50:00 AM
 #144

according to me legal, because the world has already know the world. so do not worry Grin Grin Grin Grin

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September 29, 2017, 02:01:44 AM
 #145

Hard to defined it legal or illegal.
Its depend on Gov in your country, where you live, where you mine!
But in this time almost countries accepted it so I would say it's legal!

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September 29, 2017, 02:23:21 AM
 #146

Depends on several things really, mainly focusing on location

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September 29, 2017, 03:24:04 AM
 #147

I have read article that some countries banned bitcoin mining or using bitcoin. In Bolivia, Ecuador, Kyrgyzstan, Bangladesh bitcoin mining and using bitcoin is illegal their central banks and government of mentioned countries bans using of bitcoin in their country. Nowadays bitcoin is known in many countries and some are investing in to it to mine more bitcoins. As long as there is no approved laws against bitcoin in any country, bitcoin is legal. For the future days bitcoin will be known worldwide.
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September 29, 2017, 03:30:58 AM
 #148

I know mining is a great source of earning bitcoin with some hardware stuff but i am not sure about one thing is mining is illegal in all country ? Like in my country mining is not  legal i just wanted to know why its not considered as legal work ?

Illegal can be if you steal the electricity and mine bitcoin but not the mining action itself. A barrier that could be in this case is if bitcoin is legal or not as I've heard that there are some moves from countries that first thought that bitcoin is not a legal currency, but about the mining thing I think it's completely legal and good to use, but it's bad for the environment since a lot of energy is being spent on mining!

yeah , mining ia not illegal unless your doing illegal things like stealing electricity from others electric meter and i agree also that mining is kinda harmful to the environment but only if your on a mining farm and has alot of mining hardwares and if your obstructing the way then for sure that is affecting the environment and the people living around that area thats why some countries restrics mining.


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September 29, 2017, 03:56:16 AM
 #149

There are countries that still have insufficient supply of electricity. Now if mining is done in a certain country where demand is higher than supply, the government might make regulations about using electricity for such a business. For a country where electricity is scarce, the price per kilowatt would not be too encouraging for miners as the cost of doing business might turn out to be unprofitable.
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September 29, 2017, 06:11:47 AM
 #150

Bitcoin mining is not legal in all countries.
I have read news about a country that prohibits bitcoin mining in private homes, and the reason for the ban is waste of electricity



I don't think so that it isn't legal in all countries there maybe some countries that implemented strict regulations about, but to to the extent that it matters through legalities. Maybe it's a waste of electricity but more miners prefered to do it rather doing any bitcoin job, and one of the reasons why miners is there is due to profitable income which it will provide to the users.
I also do not agree with this that in all countries mining is not legal. How it will be possible. Mining is just for income and as it is mentioned here the price of bitcoin is due to mining which is obviously for users and not all for miners.

So I think this statement about the illegality of bitcoin is not right. It is legal although it consumes electricity, but the miners are paying their electricity bills and so on.

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September 29, 2017, 07:28:13 AM
 #151

I have read article that some countries banned bitcoin mining or using bitcoin. In Bolivia, Ecuador, Kyrgyzstan, Bangladesh bitcoin mining and using bitcoin is illegal their central banks and government of mentioned countries bans using of bitcoin in their country. Nowadays bitcoin is known in many countries and some are investing in to it to mine more bitcoins. As long as there is no approved laws against bitcoin in any country, bitcoin is legal. For the future days bitcoin will be known worldwide.

It really perplexes me why some countries still do not want to see the light with bitcoin. Apparently since greed and corruption has dug in so deep with the assistance of the banking system, while some set of leaders will just be in high positions looting and stashing what belongs to the citizens and still trying to oppress them at the same time. It is just wickedness.
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September 29, 2017, 08:05:51 AM
 #152

Due to all countries not support Bitcoin,  they also ban Bitcoin mining. But they can't understand the important of Bitcoin. Bitcoin mining is best earning source.  There no risk for earn. All country should support Bitcoin.  We need to try convince every body about use of Bitcoin.

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September 29, 2017, 09:19:21 AM
 #153

It's definitely not illegal. Some countries don't like it when you trade their electricity to bitcoin and the money you make doesn't end up in their banking system right now.

If you pay for the electricity you use for Bitcoin mining then they shouldn't care what you do with that electricity. The problems arise when people start to cheat using electricity of the governmental institutions for mining. Such things happen from time to time in any country, not necessarily in Russia, South America or China. In those cases it becomes illegal because basically you steal the electricity from the authorities.

Ya some what right.Many Miners cheat the government ,to get more profit and to avoid the Electricity Expenditure. They can afford that with the profit. But they want more profit ,so only they cheat the government. Instead of this ,they can plant a solar panels For Mining. If so they no need to worry about Electricity.

That's not true. Please research the subject. Solar mining is more expensive than regular mining even in countries where electricity bills are high. Solar panels and batteries cost a lot of money and, unless you are in a place with governmental support for that, you'll hardly see ROI at all.

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September 29, 2017, 01:48:44 PM
 #154

It is hard to believe that bitcoin mining is illegal in some countries... Where is the human rights? Government can ban bitcoin usage, and declare bitcoin is illegal, but should not restrict at mining...

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September 29, 2017, 03:21:07 PM
 #155

To me mining is legal as long as there are no laws in the country against it. Once you got the manpower/equipment to do so you fire on and mine. What i feel is pertinent is to impose regulations for those mining.
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September 29, 2017, 03:33:17 PM
 #156

I know mining is a great source of earning bitcoin with some hardware stuff but i am not sure about one thing is mining is illegal in all country ? Like in my country mining is not  legal i just wanted to know why its not considered as legal work ?

Then I guess you must be from Russia because the government has planned to set up their own mining farms and declared mining illegal at home/corporate places. Different countries are putting up different decisions over each and every subject that's related to Bitcoins and they are trying their best to bind you under the laws which they think that you should practice in order to continue using Bitcoins because they feelthat Bitcoin has become a major threat to many countries' economy and many are turning it into a way to earn themselves a bigger piece to preserve it for "their" better tomorrow. All in all, they want to stop you but make money on their own the other way.


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September 29, 2017, 04:52:49 PM
 #157

according to me legal, because the world has already know the world. so do not worry Grin Grin Grin Grin
legal or illegal people don't care,
only think that matters is the pay which you receive for mining. peoples from different countries work on mining and yet there is no any case showed that  about illegality of mining, so just keep doing job and don't have to worry.

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September 29, 2017, 05:06:23 PM
 #158

I know mining is a great source of earning bitcoin with some hardware stuff but i am not sure about one thing is mining is illegal in all country ? Like in my country mining is not  legal i just wanted to know why its not considered as legal work ?

I have not seen that anywhere. It is the least touched part of the crypto world in regulation. The governments hit the exchanges and other places like that to regulate things, not the mining itself. Too hard to regulate and too hard to deal with. China try ban ICO, few countries tried ban bitcoin, but we never heard if mining was ever banned or considered illegal.


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mozillaspez
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September 29, 2017, 08:21:34 PM
 #159

Due to all countries not support Bitcoin,  they also ban Bitcoin mining. But they can't understand the important of Bitcoin. Bitcoin mining is best earning source.  There no risk for earn. All country should support Bitcoin.  We need to try convince every body about use of Bitcoin.
Well most of the countries don’t support bitcoin that put a lot of hurdles in our ways to earn safely. Mining never was illegal and never will be illegal. It is like we are earning but not in ordinary currency but in a currency that is the safest of all. If we earn something else even then we will be earning money and bitcoin is also a kind of money
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September 29, 2017, 08:42:39 PM
 #160

I have read article that some countries banned bitcoin mining or using bitcoin. In Bolivia, Ecuador, Kyrgyzstan, Bangladesh bitcoin mining and using bitcoin is illegal their central banks and government of mentioned countries bans using of bitcoin in their country. Nowadays bitcoin is known in many countries and some are investing in to it to mine more bitcoins. As long as there is no approved laws against bitcoin in any country, bitcoin is legal. For the future days bitcoin will be known worldwide.
It is very natural and normal. Whenever the technology develops and brings new things and new systems, the old and mainstream systems try to stop it and work against it. Some countries have banned it in order to save their own banks and they feel insecure. Where it is legal, it is.
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