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Author Topic: Bitcoin and Cryptocurrency are considered illegal?  (Read 1354 times)
humanCNC
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December 01, 2017, 09:52:34 AM
 #101

Today, bitcoin and virtual currency have so many benefits for humans so many people have used it and many governments have accepted it.But many governments do not accept it because in that country, bitcoin is used for corruption and money laundering. In those countries, bitcoin is prohibited.

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mondobitcoin
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December 01, 2017, 10:08:19 AM
 #102

Maybe in some country is considered illegal, as the issues in China, but sincerely i can't see the reason why bitcoin should be illegal...
Is only a decentralized cryptocurrency, that have changed the world and the life of many people
Maybe only because the governments and financial institutes are jealous of the bitcoin success Smiley

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December 15, 2017, 04:09:30 AM
 #103

not illegal, but there are a few countries that created some regulations over it because they consider bitcoin as something very dangerous for their economy, and if you think about that, it make sense, because there are some people who are avoiding taxes because of bitcoin, and a lot of people were using them.

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December 15, 2017, 04:50:49 AM
 #104

I think the one what's makes it illegal is the government that don't support bitcoin. Some people thinking it is illegal by means of you are earning but where it's came from some people can't answer it they just earning from it. Bitcoin is like a mysterious once unexplainable that's why people think its a illegal.
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December 15, 2017, 05:04:34 AM
 #105

Hi everyone,
I've join the bitcoin world for 1 year and earn a little income from this wonderful place.
But, unfortunately, when I talk about this to my parents, they all said this is the illegal money and I have to quit it before getting trouble with the government. Truly, even the main TV news program in my country said that, national banking system will banned bitcoin from any payment and there will be an punishment for that.
In my opinion, Bitcoin and crypto. still have its advantages and could be helpful if we use it for the good purpose.

What do you think, how can I explain to my parents? some article would be great. Thank you all!
Bitcoin is not a illegal money. It is also one kind of digital currency. Some of the countries are legalized in  cryptocurrency. But most of the countries are not aware in cryptocurrency. So these kind of problems are create in many families. You have some knowledge about cryptocurrency. In future all the countries are accepting cryptocurrency. I think you should explain about legalization of Bitcoin.

Yes Bitcoin is a form of token/share which generated by mining, using tremendous computing power which really costs to miner to finalize proof of work. Its bit complected process which need more information and knowledge to get into.

Many people still don't understand power and potential of blockchain and bitcoin.

After agriculture, mining bitcoins/altcoins to secure ledger with computing power is real invention in last 1000 years. It offers open source earning opportunity for everyone who willing to know about it.

ohzeih5n
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December 15, 2017, 06:36:54 AM
 #106

 Bitcoin and Cryptocurrency are considered illegal in some countries not all some allow it.

some countries and Banks try to support blockchain 
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December 15, 2017, 07:22:14 AM
 #107

New things are always illegal at the beginning. But with more and more people accept them, they will become legal at last. So don't worry about that.
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December 15, 2017, 07:29:15 AM
 #108

Your parents may not yet understand what bitcoin is, they are already indoctrinated with TV shows. Give them a slow understanding, I'm sure they'll understand. Bitcoin is arguably illegal because its anonymous, and banks can not levy taxes on bitcoin owners, that's why banks ban bitcoin.

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December 15, 2017, 07:39:42 AM
 #109

Bitcoin is not illegal, because if it is illegal I'm sure exchangers and other companies related to bitcoin will be closed all. This is just a bank trick to prevent bitcoin development, but they can not.

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December 15, 2017, 08:00:33 AM
 #110

Bitcoin is not illegal, because if it is illegal I'm sure exchangers and other companies related to bitcoin will be closed all. This is just a bank trick to prevent bitcoin development, but they can not.

Of course bitcoin is not illegal, it takes almost 7 years already and proven for everybody that bitcoin really helps those jobless people and to those having regular job helps also to have there extra income. Actually, many people still believed it that bitcoin is illegal since they don't have enough knowledge about bitcoin. Nevertheless, as long as we can have an extra income I don't care at all, its our own prerogative decision that we want to do this because we want money to support financially our family members and also for possible emergency purposes.

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December 15, 2017, 08:05:58 AM
 #111

Well, only a few countries where bitcoin is illegal. I believe they would change their mind in a year or two. You can't ignore the importance of digital currency.

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December 15, 2017, 08:11:20 AM
 #112

You should never believe what you hear on the mainstream media, it isn't really news or journalism but sophisticated propoganda designed to keep the general public in line. Crypto currency is most certainly not illegal it is simply unregulated and that is more likely what the banks and governments will look to try and change.

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December 15, 2017, 08:12:06 AM
 #113

There is some countries that her position is clear like Germany, Japan and USA, they choosed to legalize the Bitcoin in order to create new opportunities for the youth and because the believe that it will contribute in the developpement of the economy.
There is some other countries who believes that Bitcoin will effect negatively the economy so  they choosed to consider it as illegal.
But there is some countries (like Mena region fr example) are neutral which is something really confusing for people who want to work with cryptocurrencies.

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December 15, 2017, 03:23:01 PM
 #114

Today, bitcoin and virtual currency have so many benefits for humans so many people have used it and many governments have accepted it.But many governments do not accept it because in that country, bitcoin is used for corruption and money laundering. In those countries, bitcoin is prohibited.
It’s true that crypto and bitcoin is considering illegal around the world but now everything is going to normal because world rest realized that bitcoin is very use full for countries and that’s why bitcoin is now legal in many countries and the of countries will also make bitcoin legal and recently Indian bank also start to accept bitcoin which is very god thing for bit on because bitcoin is good for countries and its helping to humanity.

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December 15, 2017, 04:27:43 PM
 #115

Hi everyone,
I've join the bitcoin world for 1 year and earn a little income from this wonderful place.
But, unfortunately, when I talk about this to my parents, they all said this is the illegal money and I have to quit it before getting trouble with the government. Truly, even the main TV news program in my country said that, national banking system will banned bitcoin from any payment and there will be an punishment for that.
In my opinion, Bitcoin and crypto. still have its advantages and could be helpful if we use it for the good purpose.

What do you think, how can I explain to my parents? some article would be great. Thank you all!

it is hard to explain bitcoin for all because Bitcoin not have real support from government and all famous social media make bitcoin like bad things

with days many will use bitcoin and will be normally
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December 15, 2017, 04:40:13 PM
 #116

Bitcoin is not an illegal way of earning just as assumed by your parents. The government in particular that are afraid of legalizing it must have some deep reasons to not legalizing its operations. Now, if government is going as far as putting a penalty to its use, then it is a real limitation. This means you will not be able to make transfers to your bank and meaning no withdrawal to have physical cash. Let your parents get on the internet to get more information to convince them but really, this will not matter so long the government of your country still prohibit the use of cryptocurrency.

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December 16, 2017, 03:44:38 AM
 #117

Hi everyone,
I've join the bitcoin world for 1 year and earn a little income from this wonderful place.
But, unfortunately, when I talk about this to my parents, they all said this is the illegal money and I have to quit it before getting trouble with the government. Truly, even the main TV news program in my country said that, national banking system will banned bitcoin from any payment and there will be an punishment for that.
In my opinion, Bitcoin and crypto. still have its advantages and could be helpful if we use it for the good purpose.

What do you think, how can I explain to my parents? some article would be great. Thank you all!

Every country government are progressively worried around those suggestions for bitcoin, Concerning illustration it need the capacity should be utilized anonymously, What's more may be Along these lines An possibility instrument flying for tax evasion. On particular, theory enforcers appear to be on make concerned something like those decentralized nature of the particular cash.

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bp.comp69
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December 16, 2017, 04:07:50 AM
 #118

Today, bitcoin and virtual currency have so many benefits for humans so many people have used it and many governments have accepted it.But many governments do not accept it because in that country, bitcoin is used for corruption and money laundering. In those countries, bitcoin is prohibited.

your word is true, bitcoin has a negative and positive impact, if in the country many negative damapk like in use for crime then the government mearang bitcoin, and if in countries such as bitcoin can improve the economy then the government will legalize bitcoin

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December 16, 2017, 04:15:29 AM
 #119

May I ask which country you are in? You don't have to explain it to your parents, because they don't know what it is. You just need to invest it. Tongue Tongue

Aryadwipanggah
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December 16, 2017, 04:36:14 AM
 #120

Bitcoin and Cryptocurrency are considered illegal only in countries that prohibit bitcoin as a legitimate payment medium, but not all countries are banning. For countries that allow bitcoin I think there is no problem

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