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Author Topic: Is mining illegal ?  (Read 22547 times)
wuvdoll
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November 07, 2017, 03:18:29 PM
 #401

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 ?

Different countries have different laws for different reasons. Impossible to tell without knowing what country you're in.



That's right. Every country has their own stance in mining for bitcoins. In the UK, for one, they've legislated that mining is illegal, and thus, any effects or acts related to it would be penalized. In other European and Asian countries, though, mining is legal and is done openly. However, nowadays, I don't think many people do mining because the coins to be mined have decreased availability in the interwebs.
Mining is not an easy process because it requires high quality computer systems, sophisticated hardware and more electricity power but people are mining bitcoin especially in those countries which provide low cost electricity. I think there is no any law has been announced by someone country that bitcoin or bitcoin mining is illegal. I personally know people in Uk who are mining bitcoin but the government is not taking action against them so how can we say that mining in UK is illegal. I deny that bitcoin mining is illegal in UK.

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Antonio_q3
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November 07, 2017, 07:34:57 PM
 #402

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 ?

Probably because it is very difficult to regulate

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November 08, 2017, 08:34:55 AM
 #403

Maybe the government will not recognize mining. But every day around the world there are still many coin mining farms. These systems are creating a lot of daily wealth. Mining is a very hot industry.

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November 08, 2017, 09:00:28 AM
 #404

Maybe the government will not recognize mining. But every day around the world there are still many coin mining farms. These systems are creating a lot of daily wealth. Mining is a very hot industry.
I also think like you. The coin mining industry is very prosperous. The miner's farm is very successful. I am also doing miners with a few original ones.

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November 08, 2017, 10:02:30 AM
 #405

does any one know is mining legal in Dubai ?
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November 08, 2017, 01:22:46 PM
 #406

I have heard of 2 countries were miners are being arrested. Venezuela and Nepal. Other countries I am sure there are more. So it depends on where you do your mining.
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November 08, 2017, 02:18:49 PM
 #407

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 dont think it illegal considering the fact that you have to purchase hardware and pay for electricity consumed in the course of mining... Mining in my own perspective is like a business Innovation... You pay d price for rendering the service of mining... Whereas it illegal in some countries
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November 08, 2017, 02:46:48 PM
 #408

That's outside the law, if you don't do this in one of countries where that's illegal.

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November 08, 2017, 05:06:59 PM
 #409

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 ?
it is neither illegal nor legal in my country. We have no legal arrangement yet.
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November 08, 2017, 06:33:15 PM
 #410

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 ?

Different countries have different laws for different reasons. Impossible to tell without knowing what country you're in.



That's right. Every country has their own stance in mining for bitcoins. In the UK, for one, they've legislated that mining is illegal, and thus, any effects or acts related to it would be penalized. In other European and Asian countries, though, mining is legal and is done openly. However, nowadays, I don't think many people do mining because the coins to be mined have decreased availability in the interwebs.
Mining is not an easy process because it requires high quality computer systems, sophisticated hardware and more electricity power but people are mining bitcoin especially in those countries which provide low cost electricity. I think there is no any law has been announced by someone country that bitcoin or bitcoin mining is illegal. I personally know people in Uk who are mining bitcoin but the government is not taking action against them so how can we say that mining in UK is illegal. I deny that bitcoin mining is illegal in UK.

Mining in UK is Illegal.If you are in UK means,better avoid that.You can do trading of bitcoin instead of mining.Trading is best compared to Mining .
In Mining you need to make high capital as an Investment.In trading it is not so.You can start trading with low capital to trade altcoin.

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November 09, 2017, 04:43:41 AM
 #411

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 ?

Different countries have different laws for different reasons. Impossible to tell without knowing what country you're in.



That's right. Every country has their own stance in mining for bitcoins. In the UK, for one, they've legislated that mining is illegal, and thus, any effects or acts related to it would be penalized. In other European and Asian countries, though, mining is legal and is done openly. However, nowadays, I don't think many people do mining because the coins to be mined have decreased availability in the interwebs.
Mining is not an easy process because it requires high quality computer systems, sophisticated hardware and more electricity power but people are mining bitcoin especially in those countries which provide low cost electricity. I think there is no any law has been announced by someone country that bitcoin or bitcoin mining is illegal. I personally know people in Uk who are mining bitcoin but the government is not taking action against them so how can we say that mining in UK is illegal. I deny that bitcoin mining is illegal in UK.

Mining in UK is Illegal.If you are in UK means,better avoid that.You can do trading of bitcoin instead of mining.Trading is best compared to Mining .
In Mining you need to make high capital as an Investment.In trading it is not so.You can start trading with low capital to trade altcoin.

 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.

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November 10, 2017, 01:56:30 AM
 #412

From my knowing it varies from Nation to nation. In Venezuela you are able to get into jail if you get catched exploration bitcoins.Official charge is electricity theft from the government.People are so bad and eager, they are doing it anyhow.
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November 10, 2017, 09:58:39 PM
 #413

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 ?

It depends, it may be banned in your country for various reasons, but in my country, BTC and mining it is completely legal and many do it for a living. Maybe your government thinks it best to restrict usage of BTC for whatever reason, I can't tell you any more I guess.

Mining a bitcoin is not illegal if the bitcoin is legal in your country, since some countries banned bitcoin, also for sure mining is illegal. Even though, its not illegal but take note on its consumed power, I would say it may be illegal in your place having a huge amount of power when going to operate it due the Law in your country. It might have a power shortage because operating a high amount of power does not fits on your place and that case its illegal. Consultation should be provided on some experts of power installation, either it fits in your place or not and having a complete paper documents that issued by the government since it is authorized by Department of energy on your country.

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November 11, 2017, 02:05:17 AM
 #414

It depends where you live. The only thing illegal is not reporting your taxes as income when mining.
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November 11, 2017, 02:24:54 AM
 #415

In my opinion , i think mining bitcoin is great when your set up is good. Your using your own computer and your own electricity. Of course you have to pay your electricity bill. I dont see any violation on that, unless your country will release a regulation and guidlines regarding bitcoin mining. Until your goverment says it illegal, it will remain legal.
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November 11, 2017, 03:38:35 AM
 #416

Because mining has not yet been recognized by the government, it may be illegal to call it. But today the world's mining farms are still operating and profitable for its owners.

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November 11, 2017, 04:58:56 PM
 #417

No, Some places like 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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November 11, 2017, 06:03:05 PM
 #418

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 ?

Hi!

Legalities vary per jurisdiction. Simply put, what may be legal in your country may be illegal in our country. It depends on how your law-making body view it.

As for our country, Bitcoin mining is not illegal because there is no law saying it is illegal to do so. As long as our laws remain silent as to its existence, there is no illegality in mining Bitcoins for all intents and purposes.

You have to verify with your own laws because you do not want to mess with your laws, if you know what I mean.

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MrRiuss
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November 11, 2017, 06:06:43 PM
 #419

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 mining is legal for all country, except the activity you did to mining, such as steal electricity.
Might be what you said illegal is about the result of mining, which is cryptocurrency, that is your country dont acknowledge cryptocurrency as a valid exchange tool (currency).
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November 11, 2017, 08:45:02 PM
 #420

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 ?

Hi!

Legalities vary per jurisdiction. Simply put, what may be legal in your country may be illegal in our country. It depends on how your law-making body view it.

As for our country, Bitcoin mining is not illegal because there is no law saying it is illegal to do so. As long as our laws remain silent as to its existence, there is no illegality in mining Bitcoins for all intents and purposes.

You have to verify with your own laws because you do not want to mess with your laws, if you know what I mean.

I agree mate, if government allows those makes of mining equipment to be sold to consumers who wanted to mine they will not prevent to do what is their will for. The authority will not intervene on how you use the electricity, as long as the computers for mining has its own energy efficient features which not waste the electricity into extreme consumption. Those hardware designed for better performances were calibrated to consume enough energy based on what the feature it has, so it will not make the community suffer for energy loss and government will remain discreet about it.

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