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Author Topic: Is mining illegal ?  (Read 24285 times)
shield132
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September 07, 2017, 02:54:52 PM
 #41

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 ?
Depends on how you mine, for some reasons it's illegality is 100% fair. For example in my country there are some vilages where electricity is free, absolutely free. So if you live here and start to mine with 10 antminers, I believe you will be arrested or something similar will happen. But if you buy 1 antminer, I think there won't be problem.
On another hand if you pay electricity fees and still mining with some antminers is illegal, seems your country's goverment has some problems.

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September 08, 2017, 05:19:41 AM
 #42

Except for a few countries, Most countries are allowed to mine.
I heard it was declared illegal in South Korea But they are Preparing to Regulate & Legalize Bitcoin again.

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September 08, 2017, 05:32:07 AM
 #43

Most of the time, mining is legal. However some countries consider bitcoin mining which includes possession and the use of it illegal. In countries like North America or Western Europe, not only is it considered illegal but regulations exists that provides protections and oversights. The reason why it is illegal for most cases is because governments are threatened by its potential of competing with national currencies. Another reason it is not legal is perhaps due to the use of malicious viruses to hack a user's computer to mine bitcoins, which is obviously wrong at all aspects.

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September 08, 2017, 03:16:19 PM
 #44

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 ?
Depends on how you mine, for some reasons it's illegality is 100% fair. For example in my country there are some vilages where electricity is free, absolutely free. So if you live here and start to mine with 10 antminers, I believe you will be arrested or something similar will happen. But if you buy 1 antminer, I think there won't be problem.
On another hand if you pay electricity fees and still mining with some antminers is illegal, seems your country's goverment has some problems.
There is a minimum limit to use electricity in every country. If we exist that then surely the governament officers will visit and ask for what purpose we are using electricity and why it is consuming very high in that we will catch. This will happen in the rural area. If you are staying in the city for home use, they will fix one limit if you cross that and use more power they will think you are running some business inside your home and the same thing will repeat.

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September 08, 2017, 03:27:48 PM
 #45

How are supposed to tell you without stating what country you're from ?
Mostly bitcoin usage and mining are legal in any country unless stated otherwise.

Where I live the government never stated anything about bitcoins so as long as I'm paying my electricity bills on time, everyone is happy.
I guess they never even heard about crypto currencies. They're still busy with their politics and don't even know what that imaginary type of money is. But what is sad is that they'll ban btc and all sorts of mining once they know about it as they're totally ignorant and would just tell the public that it's a national danger and must be banned (the same way they shut down whatever they want to).

How sad.

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September 08, 2017, 03:37:12 PM
 #46

Most of the time, mining is legal. However some countries consider bitcoin mining which includes possession and the use of it illegal. In countries like North America or Western Europe, not only is it considered illegal but regulations exists that provides protections and oversights. The reason why it is illegal for most cases is because governments are threatened by its potential of competing with national currencies. Another reason it is not legal is perhaps due to the use of malicious viruses to hack a user's computer to mine bitcoins, which is obviously wrong at all aspects.
they are basically scared because bitcoin does not currently have a stable price. maybe if there is a decline and a drastic increase in prices could have chaotic economic system in the country. this is normal thinking, so at this point all we have to do is make sure that bitcoin continues to be used and also utilized as well as possible. because then it could be that many countries are aware that bitcoin has enormous benefits if it can be used properly. conduct mining including to develop and contribute to the digital currencies including bitcoin.



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September 08, 2017, 03:56:15 PM
 #47

I guess that some countries would make mining as an illegal job, because country can not tell how much have people mined, and therefor country can not take "their" share of your profit. I did not know that there are countries where mining is illegal thing. Apart from country not taking "their" share, i do not see what else could ban mining from one country. Mining is good way of earning some money, but for that you need really good hardware, and when i say good i mean something like IBM Supercomputer. Tongue Cheesy



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September 09, 2017, 12:48:00 AM
 #48

Wow it must be really hard to live in some of these countries that are so oppressive to change.
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September 09, 2017, 02:11:58 AM
 #49

For me, its depend upon to what country you are lived. Because different country, different rules or laws they have. So its hard to say if this mining is legal or ilegal. So before you start mining you first have to know if it is legal or illegal in your country.

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September 09, 2017, 04:46:54 AM
 #50

The way I read it is that you count as a transmitter if you the miner directly sell your crypto currency to a second party.
However this is not how most miners will convert. The miner would give the crypto currency to an exchange and they will then convert the currency, in his case the exchange would be the transmitter not the miner.
This is assuming solo mining, using a pool would complicate things.
I suspect a test case would need to go though the courts to see how it really pans out.

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September 10, 2017, 02:53:19 AM
 #51

In some countries bitcoin is announced as legal cryptocurrency, so mining of bitcoin in those countries is also legal. It depends upon the rules and regulations of the country

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September 10, 2017, 04:44:27 AM
 #52

In some countries bitcoin is announced as legal cryptocurrency, so mining of bitcoin in those countries is also legal. It depends upon the rules and regulations of the country
Yeah there is no wrong in mining bitcoin it depends also on how you mine, it also helping bitcoin to increase the supply preparing for the massive adopting by many countries.
The illegal thing is if you are not using your own electricity to continue mining of bitcoin. But mining itself it is not illegal for me.

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raymart0720
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September 10, 2017, 05:06:03 AM
 #53

nope mining is legal ..
mining don't hurt people or harm any people so why that would be illegal
mining is process to continue the circulation of bitcoin..
miners is on a specific pool where they solve mathematical problems and get reward if they answered that correctly

conclusion mining is the way to keep the bitcoin lets say stable and mining is not illegal

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September 10, 2017, 06:42:58 AM
 #54

It should be legal in every country, your just using your cpu/gpu..
WatchMaker
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September 10, 2017, 10:57:15 AM
 #55

Bitcoin mining is not illegal at all.
Go to China you can see people take bitcoin mining for a full-time job.
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September 11, 2017, 03:55:36 AM
 #56




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 ?


Depends on how you mine, for some reasons it's illegality is 100% fair. For example in my country there are some vilages where electricity is free, absolutely free. So if you live here and start to mine with 10 antminers, I believe you will be arrested or something similar will happen. But if you buy 1 antminer, I think there won't be problem.

On another hand if you pay electricity fees and still mining with some antminers is illegal, seems your country's goverment has some problems.




Wow a complete village with the free electricity? You must be kidding bro but whatever it is I am coming to your country with my 100 antminers. ;-)


No seriously if that's the thing then one must plot a plan to get antminers working in your area. I don't think that's illegal because it's government that made the electricity free in your area. If they have full control of that rule then you are on safe side.


And I disagree that after paying the electricity bills also your country is saying the mining is illegal stuff. There is hardware that you buy and pay custome duties and all the stuff so that has government value and you can oppose the party with that kind of statement. I think it's completely fine to mine with that scenario and you should really ask legal authorities in your area whether you can do it legally or not.




mostkey
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September 11, 2017, 04:01:12 AM
 #57

I also do not understand with a country that considers mining is illegal! while everything we need for mining we buy with our own money, and this does not harm anyone. it seems that different job laws in every country make everything that is a source of income that is not beneficial to the government can be considered illegal in other words. can benefit some parties



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MualanMaulana
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September 11, 2017, 05:49:43 AM
 #58

I don't know bitcoin legal or illegal
I think bitcoin minning is Amazing work..
More than side job..


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September 11, 2017, 05:56:47 AM
 #59

Wow thats crazy. I can't imagine getting arrested for mining. I just got 85 Mh up and running today for mining Ethereum. I imagine one day governments will try  to stop Bitcoin and cryptocurrencies in the future. I know China is coming down hard with restrictions at the moment. All the more reason to have more cryptocurrency haha.

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September 11, 2017, 06:05:55 AM
 #60

There should be no problems with the 'mining' itself, but the 'how' it's done could be illegal. Like in those cases where people used other people's resources to do the 'mining' without their authorization or even their knowledge.

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