is MAZACOIN the only legal cryptocurrency?

[coinsfuture]

Governments like russia have already banned cryptocurrencies. Mazacoin is the official currency of a  domestic dependent nation. This might grant mazacoin defacto legality. 

The US or any other country could also outlaw cryptocurrency tomorrow. This puts all other cryptos outside of mazacoin in a grey area.

[wakasaki808]

Well since the Lakota nation consists of 7 tribes(MazaCoin) is located within the nation of the US(North Dakota & South Dakota) it will be interesting what happens depending on what the US Gov does to it.

[peacefulmind]

is MAZACOIN the only legal cryptocurrency?

No.

It is however a scamcoin with a HUGE premine and a silly story.  See Auroraoin but in this case the "people" don't have computers or legal documents even or jobs or internet.

[superresistant]

Bitcoin is considered as a currency by the United Kingdom.

[peacefulmind]

Bitcoin is considered as a currency by the United Kingdom.

Can we just delete this entire sub-forum?

Such a stupid question the OP asks.  Obviously MAZA is NOT legal and Bitcoin has been legal in dozens of countries for a year.

[coinsfuture]

is MAZACOIN the only legal cryptocurrency?

No.

It is however a scamcoin with a HUGE premine and a silly story.  See Auroraoin but in this case the "people" don't have computers or legal documents even or jobs or internet.

Don't think you can compare it to Auroracoin at all, It is the official currency of the lakota nation.  They have actual means of commerce ie.. casinos. Auroracoin is made by a random person, and may not be legal

"Due to the capital controls put in place in 2008 to stop money flight on the króna, buying and selling Bitcoin in Iceland, which appears to consider Bitcoin as a foreign currency, is Illegal. The Icelandic Central Bank confirmed that "it is prohibited to engage in foreign exchange trading with the electronic currency Bitcoin, according to the Icelandic Foreign Exchange Act",[19] however commentators suggest bitcoins mined within Iceland could be freely traded."


What you may think of as a silly story is something that is important to tens of thousands of native americans. Mazacoin could also spur other countries to adopt cryptocurrencies as official or semi official currencies. Its a very big deal, you are blind.

[Snard]

See Auroraoin but in this case the "people" don't have computers or legal documents even or jobs or internet.

Are you that ignorant that you think native american indians dont have computers, jobs, legal documents, or the Internet?

[Willisius]

is MAZACOIN the only legal cryptocurrency?

No.

It is however a scamcoin with a HUGE premine and a silly story.  See Auroraoin but in this case the "people" don't have computers or legal documents even or jobs or internet.

I'm not confident that you know what you're saying. There's a college near me where the majority of students are Native Americans. They live like everyone else.

[coinsfuture]

Bitcoin is considered as a currency by the United Kingdom.

Can we just delete this entire sub-forum?

Such a stupid question the OP asks.  Obviously MAZA is NOT legal and Bitcoin has been legal in dozens of countries for a year.

Bitcoin is unregulated in most countries. Once regulated they might become illegal. Unregulated = Grey area. Look at what happened in Russia after regulation.  

The question I am asking  is if a crypto is adopted by a country or a domestic dependent nation  as an official currency, does that give it defacto legal status?

[cryptohunter]

Bitcoin is considered as a currency by the United Kingdom.

Can we just delete this entire sub-forum?

Such a stupid question the OP asks.  Obviously MAZA is NOT legal and Bitcoin has been legal in dozens of countries for a year.

Bitcoin is unregulated in most countries. Once regulated they might become illegal. Unregulated = Grey area. Look at what happened in Russia after regulation.  

The question I am asking  is if a crypto is adopted by a country or a domestic dependent nation  as an official currency, does that give it defacto legal status?

Yes if the country is sovereign .... but is it?   It will be interesting to see.

I'm more in favour of maza since why would i give money to people that will never be allowed to use crypto currency? they will simply be forced to extract straight back to fiat and forget crypto.... maza is far more like something i would get behind. However i only have a couple of thousand of those so i will wait and see, i don;t like buying anything after it goes up 800% in one day. That has often been financial suicide.

Both interest projects....let's see what happens.

[dailyarsenal]

MazaCoin is has a better chance of survival and value increase than aurora. Just watch what happens after the air drop. I was lucky enough to buy aurora @ 4$ and sold @ 80$ but I wont stay in or buy anymore as this big bubble is destined to pop.

[solid12345]

You really think the US has no deal with those tribes, they can try hide their pride under laws and historical reparations but when I see a map I only read "United States of America", Mazacoin and any other coin is under US laws, so far they have been favorable to Bitcoin, for Mazacoin luck.

Clearly you don't understand tribal law then. I live in Oklahoma and it is established that if a crime happens on tribal territory then it is usually their jurisdiction. The tribes have a lot of power and frankly a lot of money. The Lakota may be the poorest of the tribes but don't think other ones won't watch this eagerly. I think this coin has the potential to be as huge as Bitcoin, imagine the average investor who is already nervous about Bitcoin being a den of ponzi schemers and drug dealers, they see a legal authorized currency from a recognized Indian tribe, it puts their minds at ease about putting their money into it.

Also, who says ONLY the Lakota has to use it? I can imagine other neighboring tribes adopting it as well, and obviously most people right now buying it are not Indian either. It could finally be the alternative currency that libertarians and patriot types have always wanted to compete with the US dollar except now the feds can't come in and seize all the reserves and arrest the creator.

[TrollboxChamp]

People on twitter are talking about this coin going to .001 that sounds crazy to me.

[MisterCrypto]

The UK has ''Legalised'' BTC in a sense and only at this stage.

They have outlined that BTC is subject to Taxes, Not VAT anymore but things like Capital Gain's, income tax etc etc.

Although this statement suggest's they are condoning it, it doesn't mean they wont change the legal rules surrounding BTC later down the line... But any crypto currency falls under these same rules.

So even if maza coin is ''declared'' legal is some place doesn't mean other countries are going to accept it... Making it just as worthless as the next crypto if all was declared illegal.

Remove the thread its to retarded to even read.

[coinsfuture]

The UK has ''Legalised'' BTC in a sense and only at this stage.

They have outlined that BTC is subject to Taxes, Not VAT anymore but things like Capital Gain's, income tax etc etc.

Although this statement suggest's they are condoning it, it doesn't mean they wont change the legal rules surrounding BTC later down the line... But any crypto currency falls under these same rules.

So even if maza coin is ''declared'' legal is some place doesn't mean other countries are going to accept it... Making it just as worthless as the next crypto if all was declared illegal.

Remove the thread its to retarded to even read.

You seem to have agreed with me. Except your too biased to notice it.

BTC is a grey area.

Legal maza can be banned, but so can any recognized currency. Countries don't normally ban recognized currencies. If BTC was released by the US Govt as eUSD, do you russia would have banned it? Face it mazacoin, and other "recognized" currencies are in a different league.

[johnfkennedy]

Obtaining legal permission is mission #1 for any legit currency. 

This is what we're aiming for with JFK: https://bitcointalk.org/index.php?topic=500246.20

Please comment so that you can help spread awareness and stay in touch with the latest developments.

[brokedummy]

inflationary scamcoin is not good for teh hodling

[FrictionlessCoin]

The UK has ''Legalised'' BTC in a sense and only at this stage.

They have outlined that BTC is subject to Taxes, Not VAT anymore but things like Capital Gain's, income tax etc etc.

Although this statement suggest's they are condoning it, it doesn't mean they wont change the legal rules surrounding BTC later down the line... But any crypto currency falls under these same rules.

So even if maza coin is ''declared'' legal is some place doesn't mean other countries are going to accept it... Making it just as worthless as the next crypto if all was declared illegal.

Remove the thread its to retarded to even read.

You seem to have agreed with me. Except your too biased to notice it.

BTC is a grey area.

Legal maza can be banned, but so can any recognized currency. Countries don't normally ban recognized currencies. If BTC was released by the US Govt as eUSD, do you russia would have banned it? Face it mazacoin, and other "recognized" currencies are in a different league.

You are correct.  A currency of a recognized sovereign nation is in an entirely different league. 


You can criticize the the inflationary rate, but 'sovereign recognition' is a big thing.  Now, if a coin is recognized by say a U.N. member state (different from a U.S. tribal nation), then that would be even be a bigger deal!

[kelsey]

Under international law BTC would be legal for indigenous populations to use regardless of its legal status in the country they reside in. As under international law indigenous populations have the legal right to adopted and use any currency they choose, independent of the host nation.

Having said that Mazacoin looks simply to be a scam coin thrust on them by someone claiming to have created the coin for them.

[FrictionlessCoin]

Under international law BTC would be legal for indigenous populations to use regardless of its legal status in the country they reside in. As under international law indigenous populations have the legal right to adopted and use any currency they choose, independent of the host nation.

Having said that Mazacoin looks simply to be a scam coin thrust on them by someone claiming to have created the coin for them.

I think you are mixing thing up.  There is a very big difference between declaring a coin as the legal currency of a nation and the legal use of a currency.

Also,  you need to do some research to claim that Mazacoin doesn't have approval from its tribal governing body (which it does).