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Author Topic: Is mining illegal ?  (Read 24197 times)
BitTeo
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October 04, 2017, 08:15:03 AM
 #201

Illegal ? why ? its not illegal , combat for your freedom .

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October 04, 2017, 09:37:04 AM
 #202

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 ?

Bitcoin mining is legal in most of the countries leaving the ones where Bitcoin itself is illegal. In most cases, bitcoin mining is perfectly legal. In a few countries, however, bitcoin mining, as well as the possession and use of bitcoin is illegal. If you live in North America and most of Western Europe, bitcoin mining, as well as possession, is not only legal, but local regulatory frameworks actually provide certain protections and basic oversight.
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October 04, 2017, 11:39:30 AM
 #203

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 ?

Bitcoin mining is legal in most of the countries leaving the ones where Bitcoin itself is illegal. In most cases, bitcoin mining is perfectly legal. In a few countries, however, bitcoin mining, as well as the possession and use of bitcoin is illegal. If you live in North America and most of Western Europe, bitcoin mining, as well as possession, is not only legal, but local regulatory frameworks actually provide certain protections and basic oversight.
In Russia, not everything is good. A law prohibiting the mining of bitcoin and other cryptocurrencies in apartments could soon be introduced in Russia. Creating new digital tokens increases electricity consumption and temperature in the room, which can be unsafe for residents, according to experts.

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October 04, 2017, 12:33:40 PM
 #204

The short answer: In most cases, bitcoin mining is perfectly legal. In a few countries, however, bitcoin mining, as well as the possession and use of bitcoin is illegal. If you live in North America and most of Western Europe, bitcoin mining, as well as possession, is not only legal, but local regulatory frameworks actually provide certain protections and basic oversight. In many cases, bitcoin is not treated as a currency by governments, but instead as an asset or property. As such, bitcoin is afforded some legal protection, just like any other type of property. In most cases, national governments that have not outlawed bitcoin, have not passed laws regarding bitcoin mining. Globally, with only a few exceptions, bitcoin mining is generally considered to be legal.
It is not illegal it never was. It is just like any ordinary earning that we earn by our work. Whatever that work is, it demands many things from you that makes it completely legal. You are earning your livelihood and what’s bad in it. countries ban it because they hate it.
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October 04, 2017, 12:39:49 PM
 #205

these more technical problems differ from country to country, mining on your own machine is not illegal, but you must be within the laws of each region.  Smiley

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October 04, 2017, 12:48:47 PM
 #206

we need to put our freedom first, in Bolivia is illegal, the people should to fight for freedom, in all other countries of south-america is legal. anyway if mining is illegal, you can do trading only....lol  Lips sealed

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October 04, 2017, 01:09:26 PM
 #207

where is  mining illegal? Dunno any country where it would be illegal Huh
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October 04, 2017, 04:44:57 PM
 #208

I've heard that some countries are banning mining activity. but where I live my country does not ban. I may be a lucky person because I can do bitcoin-related activities much more easily. for countries that do banning then we can do several ways such as network fraud so that we can do mining. many outstanding ways to do such breakthroughs. because bitcoin is easy to trade then we will not be difficult if not found an exchanges because of this bitcoin ban. there are still many third-party services that can dilute bitcoin that we have into local currency in our country.


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October 05, 2017, 09:03:27 AM
 #209

in principle mining bitcoin it's okay as long as not break the law so may just mining bitcoin origin according to procedure do not violate applicable law

Yes I agree, and as far as mining is concerned here the authorities has no proper regulations about mining and those hardware to buy in the stores were legit. So there's no reason for that to be illegal and in fact mining can help the blockchain network transactions to have faster process.
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October 05, 2017, 09:41:10 AM
 #210


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The Dark Side of Bitcoin: Illegal Activities, Fraud, and Bitcoin Scams..{A guide to identifying and avoiding Bitcoin scams/Fraud}
18 hours ago
chuxlouis50 in bitcoin

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Recently , countless people across the world were attacked by a malware program that locked their computers and demanded money to unlock, in an attack dubbed WannaCry. The attackers received thousands of dollars in the form of Bitcoin. Bitcoin is anonymous and easy, which means its a favorite among criminals. Just how is Bitcoin used by criminals, how can you protect yourself from some Bitcoin scammers, and should Bitcoin face higher regulation to prevent criminals from being able to use the cryptocurrency?
This very attack sparked renewed media interest in Bitcoin, arguably which helped spark the massive increase in price as I outline in a previous blogs....and if you are still new on the subject matter bitcoins,please kindly click on this link {https://steemit.com/bitcoins/@chuxlouis/vital-questions-about-bitcoins-that-u-were-too-embarrassed-to-ask-all-answered-with-lots-of-life-changing-tips-for-all-hardcore} but it also caused many to question whether Bitcoin is too easy for criminals to use to receive their ill-gotten gains. An example of this is a strongly worded letter in Financial Times. The author argues that states work hard to limit illegal activity with state backed money, such as the EU outlawing 500 Euro bills, but do nothing to stop Bitcoin. She argues that Bitcoin and other cryptocurrencies have only allowed crime to grow, and have produced nothing else productive.
Now of course we all know that of course is nonsense. Bitcoin shouldn’t be made illegal by nations just because it is used by criminals, just as cars or dollar bills shouldn’t be made illegal because they are used by criminals. Nevertheless, there is a point to be made that the anonymity of Bitcoin makes it a favorite among criminals. In fact, there has been an increase in ransomware attacks in recent years, as outlined in the graph below for year 2016 {last year}

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Ransomware attacks are on the rise, and the US is hit hard.

This article shall delve into the dark side of Bitcoin, and look at some of the negative aspects that present themselves.

Bitcoin has a dark side, just how dark?
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As we speak, bitcoin market capitalization

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is hovering above 73,515,555,061 USD
billion dollars. That’s a lot of money, and you better believe scammers know this and want a slice of that digital pie,today bitcoin is very attractive to scammers for the same reason it’s attractive to you: it’s fast, it’s international, and it’s irreversible, So as Bitcoin usage has grown, we have seen more and more Bitcoin scammers disappear with user funds.

Fraud / Scam Detection in the World of Bitcoin

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The Bitcoin protocol is strong cryptographically (to the best knowledge so far), and we wish the world encompassing its network and users were as secure. In this article, we will review several classes of attacks, how a feature of the Bitcoin protocol in conjunction with online wallets will help prevent them and we’ll end with an overview of why fraud detection is a difficult endeavor.

To avoid any confusion, in the context of this article,
“fraud”
refers to a transfer of funds to a destination not authorized by their legitimate owner. while

" Scam"
can be defined as a fraudulent scheme performed by a dishonest individual, group, or company in an attempt obtain money or something else of value. Scams traditionally resided in confidence tricks, where an individual would misrepresent themselves as someone with skill or authority, i.e. a doctor, lawyer, investor. After the internet ,Online transactions and Bitcoins became widely used, new forms of scams emerged such as lottery scams, scam baiting, email spoofing, phishing, or request for helps etc

Pretty much everyone reading this article will know Bitcoin transactions are technically irreversible and this makes them very attractive for merchants because the received funds are immediately spendable. In some jurisdictions it might be possible that the merchant is forced, through a court order, to refund a transfer, but this case is a legal matter, completely unrelated to the method of payment (nonetheless, for consumers it is a good resort to have in the rare case of rogue merchants).
Bitcoin’s use of digital signatures ensures transactional integrity and non-repudiation. The network, which verifies the transaction, cannot check however whether the private keys were provided by the legitimate user or another party. That step is outside of the protocol’s boundaries and is the wallet’s responsibility to authenticate the user and unlock access to the private key. The wallets or the users are therefore the targets of malicious attacks.

Attacks Against Wallets

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The level of security provided by wallets varies with the implementation, in terms of both features and quality. Naive implementations will simply store the wallet unprotected or weakly protected (once the file is stolen, a short PIN can be trivially brute-forced) and this is why wallet-stealing malware is one of the easiest attack paths. In fact it is so obvious (reminiscent of Willie Sutton’s famous yet apocryphal answer: “because that’s where the money is”) that two researchers, Pat Litke and Joe Stewart, have recently catalogued 146 distinct Bitcoin-stealing malware, out of which only half were detected by anti-virus scanners (read a good summary or, better, the original paper). Even if the wallet is coded diligently, given that run on a software stack, the underlying layers can have vulnerabilities which, however difficult, will be found given time (the money to be stolen is a great motivator).

Several approaches exist to mitigate this risk. A common one is using two-factor authentication (requiring a telephone with a registered phone number which will receive a one-time code via SMS or a voice call. Google Authenticator is a popular choice).
It is a good complement for computer-based wallets, but less so for mobile wallets residing on the same phone which can be stolen. By the time its owner removes the authorization for the phone, the funds might be gone. How can a thief know the wallet password? The same techniques as for stealing the PINs of physical cards: “shoulder surfing” or cameras filming the user while performing a legitimate transaction (a club’s bar is a high-risk location, for instance). Keylogger malware is another popular approach.

Other approaches consist of “brain wallets” which do not store the keys but generate them from a (hopefully long) passphrase memorized by the user.
This is harder in practice, not only because occasional users may rightfully be wary of forgetting it (carrying a paper with it in the physical wallet would negate the security but it will happen nonetheless) but also because a good passphrase would be about50 wordslong and this would make frequent use cumbersome.
Lastly, paper wallets and hardware wallets are more secure, but they are more suitable for the cold storage of funds, rather than daily use. Diligent users will employ them, but do not expect this to be the norm.
In fact, the wallet does not have to be stolen to be used as a source of money. Ransomware, malware that encrypts user files and demands a payment for unlocking them – CryptoLocker being the most (in)famous — can provide a steady source of income through ransoms, regardless of whether the private keys are obtained. It is unlikely that such malware will be written for Bitcoin wallets specifically (why limit the attack?), but wallets will be taken with all other personal files. This is where cold storage of most funds, Bitcoin’s equivalent of “don’t keep all your money as cash with you”) as well as backups are absolutely essential.
So far we’ve talked about user wallets. On the other end of the wire, any online site storing bitcoins, be them wallets, merchants or exchanges, should be prepared for advanced persistent threats and followers of the excellent Krebs on Security blog will be familiar with how indirect attacks can be, going through third-party suppliers of the target (overused pun not intended). Indeed, attacked have they been. Most high-value attacks today are profit-motivated and supported by organized crime (let me point out here that someone tried to impersonate Gavin Andresen on the PGP key servers). Although PCI-DSS is not perfect, its recommendations are mostly applicable to Bitcoin businesses.

Attacks Against Users

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Why hack the user’s computer when you can persuade him to pay you? Unfortunately, scammers know how to leverage your emotions, whether they target greed by offering “high investment returns” or, as in the case of donation scams, people’s compassion for others.
There have been instances where scammers have created fake donation pages where they ask people to donate in bitcoin. After the Orlando terror attack, for example, a fake donation page was set up that urged users to send the cryptocurrency to help the attack’s survivors.
Even when donating, it is imperative to conduct thorough research into the cause and the charity or person behind it before sending any bitcoins to avoid getting scammed.
While there are many ways you can earn bitcoin, make sure you avoid Ponzi schemes that promise you a high return on investment. Also, avoid using any exchange or wallet provider that is not reputable or professionally run. Cybercrime is on the rise globally and the Bitcoin economy is also affected by this trend. Hence, it is wise to always conduct your research about a product or service, as well as who is behind it, before parting with your cryptocurrency.Scamming is as old as the world. A Bitcoin address does not have any identification about its owner so simple persuasion to send money to the scammer’s address can work well (side note: what at times is a feature is, at others, a usability shortcoming. However, the idea of a resolution mechanism to associate a computer-friendly wallet address with the human-friendly social networks identities or a directory has faced considerable critique for fear it would create a two-tier system that will eventually destroy Bitcoin. A good decentralized solution is still in the future).
Every event involving a loss of bitcoins or even a service outage has the potential to be used by scammers for phishing (or fake Twitter or any other social media accounts soliciting donations) and as Bitcoin becomes more popular, we can expect the wave of donation requests to fraudulent addresses following earthquakes or other disasters.
To be clear: this is not a vulnerability in the Bitcoin protocol. After all, the legitimate owner of the funds decided to make a transfer. It’s a plain scam, not a hack. Nonetheless, if the ecosystem will have features reducing the incidence of such scams the trust in the system and the adoption will be higher.
A different type of attack is one in which a Bitcoin-accepting website is hacked and the destination address modified to be the attacker’s. The attack cannot last long for merchants, whose checkout process will notice the funds have not arrived to their address but sites accepting donations may be exploited for longer times.

#Transaction Screening

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The conceptual answer is to have the transaction screened for fraud outside of the device originating the payment which can be under the control of an attacker or malware. This is similar in principle to how a credit card transaction initiated by the consumer is vetted and, to implement it, Bitcoin has an elegant mechanism: multi-signature transactions, requiring more than one party to sign a transfer. While they serve multiple purposes (escrowbeing a typical example), in this case a second party would be a service that screens transactions for fraud and only if the transaction is okayed by it, then it is broadcast to the network. Vitalik wrote an excellent primerearlier recently and I’ll invite you to read it rather than pasting the same topic here. Thetutorialsby James D’Angelo’s on YouTube are also highly recommended.
Who can be that other party screening the transaction? The web wallet is the first choice and, in fact, this feature is already implemented and promoted byCryptoCorpright on the front page, a proof that fraud prevention can have marketing value and not just make the finance department happy. Notably, the use of a web wallet provides more data points since the IP address and device information can be used as inputs and detect, for instance, if the network location of the user’s wallet has jumped across an ocean within minutes.Security-conscious users will prefer not to use online wallets, yet I think it is a safe bet to say that the convenience will keep them popular, as with cloud-based email or file storage. The wonderful thing is that multi-signatures, by requiring both the user and the exchange to cooperate, make this option arguably more secure than single-signature local storage given the permanent threat of having the hot storage hacked.
After an initial period in which online wallets implement their own solutions, if at all, I do expect some consolidation to follow in time, with fewer third party fraud detection services being used by more wallets. It’s part economics (pay-for-service is often cheaper than build-your-own, particularly a build-your-own-complicated-system), part efficiency. Collaborative fraud detection is already used by the payment industry, with merchants and financial institutions sharing fraud data with a number of vendors or among themselves with the goal of reducing it for everybody (disclosure: I’ve been involved in building such systems, but none of them is public or commercial and I hold no financial interest in any such vendors. Nonetheless, I have not named any companies).

Fake Bitcoin Wallets

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Every user requires a bitcoin wallet to store their funds and to send and receive payments. There are four main types of wallets for bitcoin, namely; hardware wallets, web wallets, desktop wallets, and mobile wallets.

Scammers, seeing the high demand for mobile wallets, have started to create fake wallets to defraud people. The fake bitcoin wallets usually have a name that is very similar to legitimate and trusted wallets such as Coinbase or Mycelium and, in some cases, even the same logo. These copycat tactics trick the user into downloading it believing it is the legitimate company’s wallet. Some fake wallets have crept onto the Apple and Android stores masquerading as genuine wallets.

Another way that fake wallets get customers is by promising greater transaction anonymity according to Marie Vasek’s and Tyler Moore’s study:

“I was  able to analyze three of these services (Onion Wallet, Easy Coin, and Bitcoinwallet.in), in which all transfers from the victims were ultimately delivered to the same address held by the scammer. These particular scams advertise themselves as offering a mixing service that enhances transaction anonymity for customers. In fact, all three services appear to be operated by the same scammer, because the siphoning transfers all go directly to the same Bitcoin address.”
The way wallet scams work is that the user downloads the mobile wallet and starts to use it. It usually works for a while, but once the amount stored in the wallet reaches a certain threshold, it is moved out of the wallet leaving the user empty handed.

To prevent yourself from falling for such a scam, download wallets directly from the link provided on the reputable bitcoin wallet provider’s website.

Fake Cloud Mining Services

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Bitcoin mining is a process where complex mathematical equations are solved by Bitcoin “miners” in exchange for rewards in the form of new bitcoins. These equations validate the transactions in the blockchain ensuring that all requirements are met and that no double spending can occur.

Cloud mining companies charge users a small fee in return for mining bitcoin (or other cryptocurrencies) on behalf of the user. That allows individuals to receive the financial rewards for mining cryptocurrency without having to purchase and maintain expensive bitcoin mining hardware.

However, this area of the Bitcoin economy has also been infiltrated by scammers. Cloud mining scams are websites that state that they are offering cloud mining services without actually conducting any cryptocurrency mining. Generally, these sites pay users out for a period after they have purchased a fake cloud mining contracts for more than the payouts they are receiving. Then, after some time, the fake cloud mining company stops paying out, and users’ funds disappear. In other words, fake cloud mining operations are simply Ponzi schemes that pay out as long as more users are attracted to the service and are buying fake mining contracts. Once the amount of new paying users dries up, the scammer disappears with the funds.

Examples of cloud mining scams are Hashinvest, Hashpoke, Cointellect, GAW Miners and HashOcean, with GAW Miners and HashOcean arguably having been the biggest cloud mining scams executed to date.

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October 05, 2017, 12:20:38 PM
 #211

Mining is not illegal. In fact there are a lot of countries having a mining place. And also North Korea is suspected having a big mining place mining bitcoins Cheesy. So it is not illegal.

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October 05, 2017, 12:56:54 PM
 #212

My question is how is it illegal...I'm not a miner but i'd reckon someone can use tor? How can someone find out? What if one contribute to cloud mining activities is it still illegal?

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October 05, 2017, 02:55:10 PM
 #213

My question is how is it illegal...I'm not a miner but i'd reckon someone can use tor? How can someone find out? What if one contribute to cloud mining activities is it still illegal?


If the country makes bitcoin as illegal money or banned in that concerned bitcoin related services are illegal to use. Henceforth, you can mine or do any services which related to bitcoin not accepted by goverment dude.
Now, Japan is the best location to start big mining without without legal issue even the government also will not interrupt.

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October 05, 2017, 07:43:22 PM
 #214

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 think every countries has a rules to be followed on using cryptocurrency, and in your case, sadly you cant mine any single coins in your country as you said that mining are illegal at your country. actually its not right to use the term ( illegal ) i think the right term is ( banned ) because illegal is only in bad activity but not in cryptocurrency, many countries are accepting bitcoin to be legal and a few countries are not for their personal reasons, but again mining is a legal work and as long as you didnt do anything illegal in mining and you are in a good way.

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October 05, 2017, 08:49:46 PM
 #215

Illegal ? why ? its not illegal , combat for your freedom .
no need for combat bro, without mining bitcoin sucks.
so where ever is bitcoin there is mining so it is legal as bitcoin right know. no government can banned bitcoin except china.

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October 06, 2017, 04:50:28 AM
 #216

I will say no but also yes actually it differ from country to country for example its not legal in a country call bangladesh and its legel in USA.
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October 06, 2017, 06:24:06 AM
 #217

My question is how is it illegal...I'm not a miner but i'd reckon someone can use tor? How can someone find out? What if one contribute to cloud mining activities is it still illegal?


If the country makes bitcoin as illegal money or banned in that concerned bitcoin related services are illegal to use. Henceforth, you can mine or do any services which related to bitcoin not accepted by goverment dude.
Now, Japan is the best location to start big mining without without legal issue even the government also will not interrupt.

In Japan ,now the mining farm with very high budget is planned .Mining is always ,legal in Japan.So you had a plan to do Mining means,you may checked in to Japan.If you had a plan to do Mining so.You may select the Solar panel Mining,to get huge profit from the Mining.In solar panels,you will get free Electricity.

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jostorres
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October 06, 2017, 09:12:29 AM
 #218

Its hard to tell wether it is illegal or legal, it is because different country has different laws, so it's depend upon to your country. Try to know it first before you start mining. But i know someday all countries in the world will accept and support this cryptocurrencies.
It is very hard to know indeed. I have seen so many countries declare their distaste for cryptocurrency in the past probably due to lack of understanding of the blockchain network, but these days, the stories are changing.

However, even if it isn't, most governments do not even understand how mining operation works and apparently may not even declare it legal or not since there is no single policy backing that.

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kpcian
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October 06, 2017, 10:12:35 AM
 #219

it totally depends on the country's rule and regulation. if your country's law doesn't support this system then in mining is illegal in your country. like in Chin and Europe, mining is not legal. but most of the countries in Asia, government has a little bit idea about this system. but i think mining should be legal all over the world.

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PokerFace3
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October 06, 2017, 10:53:25 AM
 #220

I's legalized. You will be using your equipment with an electric power paid for by you, I believe there is nothing illegal there, at least if you do not live in a country that is driven by socialism.  Cheesy
I have always thought about it this way as well. I make use of regular appliances and I pay my electricity bill and this is not in anyway different from having a mining rig in the first place. As long as I keep paying my electricity bill without issues, this should not really be a serious problem.
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