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Author Topic: Bitcoin and Cryptocurrency are considered illegal?  (Read 1354 times)
10yearsolder
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November 26, 2017, 11:03:42 PM
 #81

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!

The safest way is to avoid coming into an argument with your parents about it, basically because even if it is proven in your family that Bitcoin is good, the government still remains adamant against its legalization and worse you are still at risk of being caught and punished because of it. However, if the sites through which you can still access Bitcoins and trading are still open, then you may go on.

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Kingofbitcoin12345
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November 26, 2017, 11:04:33 PM
 #82

Mostly our parents are so afraid of new things and specifically new technologies.. At they’re generation they were hard on themselves on trusting anyone or anything regarding money.. And this past years online scamming has done a big negative image that we can’t even blame about.. That’s why we need to show them of what is cryptocurrency and bitcoin and prove to them that this misconception is nothing but untrue..

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November 26, 2017, 11:09:20 PM
 #83

The bad press that BTC and alt coin get related to them being in a bubble state, ICO scams, and lack of knowledge will make people scared of it. The fact that some people uses them for illegal activities make them being associated, and assumed illegal, by people that don't understand the technology and the projects.

Apart from that, some governments do treat them as illegal, and depending on your country taxation rules, and the way you trace crypto, might get you in trouble if you are not aware of the details

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November 26, 2017, 11:32:17 PM
 #84


well, we are still lucky because the government only gives a ban on doing payment activities with bitcoin. the government does not impose a ban on ownership of bitcoin. Is not it? so, we can still benefit from trading, although we can not use it as currency.

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November 29, 2017, 05:33:46 PM
 #85

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!

 In my own opinion Bitcoin and cryptocurrency must be considered ot illegal if its is used this  for destruction of entire humanity,one of this example is  if they used bitcoin currency to drugs and smuggling or some use this fund in make a criminality,that i considered that on my own  an illegal,but if bitcoins is using in a proper way to helps us our economic being progress and turn our commnunity to more productive  thats bitcoin is legal,even its not regulated.

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December 01, 2017, 03:57:53 AM
 #86

Anything which threatens the power and authority of the government should be necessarily made illegal right?  Well, only in a government which is more concerned with its own interests instead of those of its people.
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December 01, 2017, 04:07:20 AM
 #87

i think bitcoin has already been considered illegally in many countries nowadays, their government still dont have any strict rule to control bitcoin, so they have no choice but banning bitcoin, but i think this ban just temporary, the society is accepting bitcoin as a great tool to get more financial income.

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December 01, 2017, 04:34:04 AM
 #88

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!

there are indeed some countries forbidding bitcoin but in my country do not forbid bitcoin even though bitcoin has not been in off. bitcoin I can not use as a means of payment in my country but I can exchange bitcoin into real currency in my country so I can pay all my household needs.

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December 01, 2017, 04:40:05 AM
 #89

Yeah in many countries bitcoin is illegal because invest in bitcoin affect the national currencies...So Government is trying to protect their currencies... In my country bitcoin is not illegal...I exchange it with my country currencies..

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December 01, 2017, 04:42:28 AM
 #90

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!

Depending on were'r you located, for luck here in Brazil we aren't banned for using crypto and this will stay like this, gov haven't say much about it.

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December 01, 2017, 04:48:32 AM
 #91

I do not think bitcoin is illegal but the people in my country consider it illegal, the government they are watching to bitcoin and may ban in my country
musharaf
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December 01, 2017, 04:49:05 AM
 #92

I don’t think so as we are bore to the traditional monetary system we are the modern people and waiting for the modern currency system like crypto currency as some people are saying that it is illegal but some of them are saying that it is wrong is short the crypto currency traders are doing well the usage and demand of this currency are good.

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December 01, 2017, 04:52:16 AM
 #93

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!


Btc not illigal. Goverment also not approved yet. From btc can send money to other person without delay. But here biggest disadvantage is nobody unable to track.

Black money can be transferable thats the problem.

In near future most governments will
Approve btc. They will ammend this crypto

kimpena
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December 01, 2017, 04:59:58 AM
 #94

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 bitcoins legallity depends on the country. There are countries who consider bitcoin as illegal, but there are also countries who accepts bitcoin. In your situation, if your country doesn't allow you to use this currency, maybe you can just follow your countries law, if you don't want to get in jail. It is up to,  if you are going to take the risk of using it even if it is consider illegal, or are you brave to use it by negotiating with others who's country allows the use of it. You must think of it, because it is on you on how you will live your life with or without bitcoin.

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December 01, 2017, 05:18:54 AM
 #95

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 illegal but also not legal, it is a fully decentralized and low-cost virtual currency.

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December 01, 2017, 05:29:25 AM
 #96

The government are doing this because they knew bitcoin will make their national currency loose value and the hate the fact that bitcoin is helping the common man and this is one of the reason I hate the government. What you'll have to do in other for your parent to have the in sight of bitcoin search for a nice article that explain bitcoin is on the bitcoin org site.



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December 01, 2017, 05:32:00 AM
 #97

Exactly! I was recently called by my grandmother and she called me after reading

* Dawood Ibrahim using Bitcoins to keep illegal tradings under radar.

It took me whole 45 minutes to explain it to her that Bitcoin is a technology and it provides more benefits as compared to that of fiat currencies and thus everyone (including the criminals) are using it just like the fiat currencies. I am not involved in any illegal activity and hence she doesn't have to worry about it in my case.

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December 01, 2017, 05:56:17 AM
 #98

Some country consider it illegal because it is untraceable and not moderated by their financial institutions. Since they can not control it, many people abuse it. Bitcoin is also banned and considered illegal in many country because of money laundering and others crime activities.That why Some country don't want adopt it rather they consider it to be illegal.

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December 01, 2017, 05:56:41 AM
 #99

Sooner your country will understand the potential of Bitcoin then again they will declare it as the mode of payment.  
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December 01, 2017, 08:32:47 AM
 #100

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.

Wait, I don't understand, did the main TV news program said that bitcoin is banned? or it will in the future?

If it is not yet banned, then why worry? there is still a chance. Who knows, your government might came up with a ruling that it won't be banned,  and just regulate the use of it.

Your parents are just concerned about you, and probably their knowledge about computer and internet is now outdated. You need to explain to them very well.

some article would be great. Thank you all!

Just google it, you can find many good articles about bitcoin, just don't let your parents believe the tv as most of it are just one sided.

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