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Author Topic: Bitcoin and Cryptocurrency are considered illegal?  (Read 1445 times)
lupinvn
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November 19, 2017, 02:11:58 PM
 #61

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!
I think people who think of Bitcoin as illegal are those who do not understand Bitcoin. Until now there are still many countries that have not determined their attitude towards Bitcoin and this has proven that Bitcoin is still free to use. I as a Bitcoin user who has been using for 4 years ago thinks that people who say illegal Bitcoin are those who are afraid of Bitcoin, they are afraid when the Bitcoin price movement happens very quickly. Though it does not always have a negative stigma, when we are smart and careful then we can actually use it. only smart people who will succeed and those who dare to take risks to use Bitcoin is one part.
Agree.. But after a short time, I know some facts that some people who haven't participate in Bitcoin usually afraid of it because some news on the TV. The price of bitcoin is climbing too fast and they afraid of explosion (?!?) so they don't invest in bitcoin. Secondly, some body think that, Bitcoin is "just something show on the internet and can not hold by hand" so they think that just a unreal income and said "why did you invest your real money to that such unreal thing?".  Last thing I've learned that, in my country (Vietnam), people are scammed by some kind of HYIP, MLM monitors, the amount is not small so people all afraid too.

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November 19, 2017, 02:25:39 PM
 #62

~slip~

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

Just explain bitcoin is a future currency that people will use it in the future and tell your parents about the price of bitcoin, they will shock for sure. If they still don't care about bitcoin then just give up and move on, keep using bitcoin like usual and no bitcoin and cryptocurrency is not illegal.

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November 19, 2017, 02:31:24 PM
 #63

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!

This fear is because Bitcoin in the starting was used for illegal activities but when the silk route got cleared Bitcoin technology came in limelite to the developers in open and they started to develop it. But now Bitcoin is legal in some country so you can give this details to your parents and show them the real usage of bitcoins. This way i think they can feel some what safe if you are in Bitcoin earning.

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November 19, 2017, 02:34:37 PM
 #64

It is actually answerable by yes if you use it in illicit acitivities. Since digital currencies are decentralized in nature which means the government could not intervene on it because they are autonomous, anybody can pay someone's illegal products or service without being caught or traced by authorities since transactions made in the blockchain are anonymous and untraceable.
That's may be the reason why some countries are banning ICOs and cryptocurrencies.

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November 19, 2017, 02:37:20 PM
 #65

Well somehow we can say that it is illegal in the governments point of view because they are unable to put some taxes on it.

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November 19, 2017, 02:40:31 PM
 #66

I don't get it why they're misinterpreting it to be illegal. Is it because it is known currency in the dark web where illegal market takes place? Bitcoin is just another type of currency where we can also call it cryptocurrency. Just like USD and other currencies, it holds a specific value when exchanged into another currency. It is still money but it is intangible because it functions in the internet.
Maybe they're considered illegal, because they still lack knowledge of what it is except through the fact of what I've previously about dark web.

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November 19, 2017, 02:59:34 PM
 #67

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!


Teach them how to earn from bitcoin, when they will start earning from bitcoin forum then they will tell you how important bitcoin is for them Tongue But there are some people doing illegal activities through bitcoin. Otherwise there is  no harm for anyone from bitcoin.

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November 19, 2017, 03:14:21 PM
 #68

who says this from the beginning people are saying that it is the modern era currency mostly transaction are done through bitcoin many countries are accepting bitcoin as a good currency the banks and other financial institutions are trying to use bitcoin for international funding in different projects. i think cryptocurrency are not considering illegal it is legal currency.

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November 19, 2017, 03:18:16 PM
 #69

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!
Not surprising which government would really deceive people as long as they can when it comes to bitcoin which it would brain washed its citizens that it is an illegal stuff without even trying to explain its positive side and im sure you do know what im talking about this is why we do decide to engage with it because on its benefits.For now,dont bother to tell your parents about it and just keep involvement on bitcoin since government wont still able to find that you are still engaging on it.

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November 19, 2017, 03:44:45 PM
 #70

In some countries they are considered as illegal because they doubted about bitcoin that it is a good currency because it is anonymous and hard to track down so it might be a threat for them so they just banned it and considered as illegal but for other countries, it is not illegal and to be honest some of the countries in Asia already made bitcoin legal because of its potential.

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lupinvn
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November 22, 2017, 03:30:28 AM
 #71

...it is a good currency because it is anonymous and hard to track down so it might be a threat for them so they just banned it and considered as illegal ...
Yeah, I also agree with you, maybe they're trying to banned bitcoin because there are noway to track it down. But look at some other comments, I learned that there are still many illegal purpose when people use bitcoin (because it was used for illegal black market for the first time bitcoin came out). That should be one of the main reason for people think BTC is bad thing. But I'm still finding more evidents that prove people could believe in bitcoin and start to use it for their daily life as a payment method in the modern world. 

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November 22, 2017, 04:10:56 AM
 #72

No they are not illegal. And Bitcoin or other cryptocurrency not kind of that bad to be an illegal thing in this world perhaps its doing more good in this world to teach we all people about this new modern technologies that can we use for our future and to earn to help our own families and have a good life and make our childrens have also a good future

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November 22, 2017, 04:24:27 AM
 #73

some countries bitcoin is illegal they think this will be down their economy or they think it may increase the rate of poverty you know bitcoin is like a gambling because of volatile of the price. But its proven that many bitcoiners here are getting profit,. Explain to your parents that not all countries ban bitcoin some countries are legal mostly in asia.


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November 23, 2017, 01:53:16 PM
 #74

I think this is natural because many governments are banned by bitcoin and cryptocurrency, they assume that bitcoin and cryptocurrency are a means for money laundering and tax evasion.
There is no doubt in this fact that governments are afraid of bitcoin and other digital currency because they are decentralized in nature especially bitcoin and they are unable to control these currencies for their own betterment. They simply want to put taxes on all these currencies so that they can earn form these latest inventions. Bitcoin is the one which is also threating banks.

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November 23, 2017, 01:56:11 PM
 #75

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!
Well, it depends to certain country because there are some countries in the world that legalize bitcoin and some countries, banned it. If youre in a country that banned bitcoin, maybe its good for you to stop since it will be illegal in your country or if you want to continue using and earning bitcoin, you better be careful.
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November 23, 2017, 01:59:54 PM
 #76

Actually we can take BTC as partially illegal since it is not fully accepted by all. We can say that it is legal since it was already used and allowed to buy something online, so there is no need to say that it is dangerous because it is illegal.

jayhawk1
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November 23, 2017, 02:33:53 PM
 #77

Don't worry man! I think they just ban if you use Bitcoin for a direct payment. How about you convert BTC to USD or your currency. I think it is legal
It really does not matter a lot whether the use of digital currencies is considered legal or illegal in a specific territory. There are a lot many things that are stated as illegal in the laws regulated by the legislative bodies but they are used in excess for various purposes no matter even if in the black market. As far as the digital currencies are considered they are partially legal in the United States and hence their status could not be questioned so seriously and it is okay to use them.

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November 23, 2017, 02:35:17 PM
 #78

Some country forbid bitcoin because bitcoin can be use for corruption,money laundry for terrorism activity so it's reasonable if the government must to forbid bitcoin.
Overall it's depend on the civilian whenever they want to adopt bitcoin or forbid but one things for sure , bitcoin has become revolutioanary investation that ever made !

Eah coin comes with advantages and dissatvantages. Somtimes the advantages go hand in hand with the disatvantages, the bigger the advantages the bigger the dissatvangaes. We get financial freedom with crypto and in exchange we give free hand to criminals.

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November 24, 2017, 06:30:44 AM
 #79

Feel free to use Bitcoin in your country until it becomes illegal. But even then you will still be able to use TOR and proxy services if you like.

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November 26, 2017, 10:57:43 PM
 #80

Some country forbid bitcoin because bitcoin can be use for corruption,money laundry for terrorism activity so it's reasonable if the government must to forbid bitcoin.
Overall it's depend on the civilian whenever they want to adopt bitcoin or forbid but one things for sure , bitcoin has become revolutioanary investation that ever made !

Eah coin comes with advantages and dissatvantages. Somtimes the advantages go hand in hand with the disatvantages, the bigger the advantages the bigger the dissatvangaes. We get financial freedom with crypto and in exchange we give free hand to criminals.
typically those things are viewed as unlawful which have some uncalled for implies yet bitcoins has no out of line movement by which bitcoins could be viewed as illicit so in the event that you needs to put resources into the bitcoins yet you are worried about the possibility that that if its unlawful then you should realize that bitcoin is no illegal.   


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