Bitcoin Forum
December 03, 2016, 02:30:50 AM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1] 2 3 »  All
  Print  
Author Topic: If bitcoin becomes illegal?  (Read 9544 times)
knight22
Legendary
*
Offline Offline

Activity: 1358


--------------->¿?


View Profile
June 27, 2012, 12:15:59 AM
 #1

What will happen if bitcoin becomes illegal? Is this kind of currency is protected by law in most of occidental countries?

1480732250
Hero Member
*
Offline Offline

Posts: 1480732250

View Profile Personal Message (Offline)

Ignore
1480732250
Reply with quote  #2

1480732250
Report to moderator
1480732250
Hero Member
*
Offline Offline

Posts: 1480732250

View Profile Personal Message (Offline)

Ignore
1480732250
Reply with quote  #2

1480732250
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1480732250
Hero Member
*
Offline Offline

Posts: 1480732250

View Profile Personal Message (Offline)

Ignore
1480732250
Reply with quote  #2

1480732250
Report to moderator
1480732250
Hero Member
*
Offline Offline

Posts: 1480732250

View Profile Personal Message (Offline)

Ignore
1480732250
Reply with quote  #2

1480732250
Report to moderator
1480732250
Hero Member
*
Offline Offline

Posts: 1480732250

View Profile Personal Message (Offline)

Ignore
1480732250
Reply with quote  #2

1480732250
Report to moderator
NothinG
Hero Member
*****
Offline Offline

Activity: 560



View Profile
June 27, 2012, 12:19:58 AM
 #2

If I'm not mistaken, a currency can't become Illegal.
It just wont be allowed in certain places to be publicly trade-able.

Fuzzy
Hero Member
*****
Offline Offline

Activity: 560



View Profile
June 27, 2012, 12:22:48 AM
 #3

It WILL become illegal. Sometime, somewhere, it will eventually pose a threat and begin to eat away at someones bottom line. The question is not "if" it will happen, but how will the users and the network respond.
knight22
Legendary
*
Offline Offline

Activity: 1358


--------------->¿?


View Profile
June 27, 2012, 12:26:48 AM
 #4

It WILL become illegal. Sometime, somewhere, it will eventually pose a threat and begin to eat away at someones bottom line. The question is not "if" it will happen, but how will the users and the network respond.

I'm thinking the same thing. Bitcoin is a real threat for the banking system and they won't like it if it becomes very popular. We must be prepared legally for this or we will be screwed. Is there specific laws ALLOWING such currency actually?

Fuzzy
Hero Member
*****
Offline Offline

Activity: 560



View Profile
June 27, 2012, 12:37:36 AM
 #5

It WILL become illegal. Sometime, somewhere, it will eventually pose a threat and begin to eat away at someones bottom line. The question is not "if" it will happen, but how will the users and the network respond.

I'm thinking the same thing. Bitcoin is a real threat for the banking system and they won't like it if it becomes very popular. We must be prepared legally for this or we will be screwed. Is there specific laws ALLOWING such currency actually?

They will demonize it by associating it with drugs/terrorism/child exploitation/human trafficking and turn the general public against it. That seems to be the common way of killing something like this.

Then some special interest group will probably release their own centralized version of digital currency by promoting it as "progressive" etc etc...

That's what Bitcoin will be up against.
knight22
Legendary
*
Offline Offline

Activity: 1358


--------------->¿?


View Profile
June 27, 2012, 12:44:23 AM
 #6

Yep.
I hope there is some lawyer pro bitcoin in this forum that can gives us good advice... 

Matthew N. Wright
Untrustworthy
Hero Member
*****
Offline Offline

Activity: 588


Hero VIP ultra official trusted super staff puppet


View Profile
June 27, 2012, 12:45:50 AM
 #7

Yep.
I hope there is some lawyer pro bitcoin in this forum that can gives us good advice... 

That's illegal.

ArticMine
Legendary
*
Online Online

Activity: 1792


Monero Core Team


View Profile
June 27, 2012, 12:49:16 AM
 #8

What will happen if bitcoin becomes illegal? Is this kind of currency is protected by law in most of occidental countries?

Do you mean like when gold was illegal in the United States in the past? http://en.wikipedia.org/wiki/Executive_Order_6102

Concerned that blockchain bloat will lead to centralization? Storing less than 4 GB of data once required the budget of a superpower and a warehouse full of punched cards. https://upload.wikimedia.org/wikipedia/commons/8/87/IBM_card_storage.NARA.jpg https://en.wikipedia.org/wiki/Punched_card
knight22
Legendary
*
Offline Offline

Activity: 1358


--------------->¿?


View Profile
June 27, 2012, 12:59:09 AM
 #9

Yep.
I hope there is some lawyer pro bitcoin in this forum that can gives us good advice... 

That's illegal.

By which law?

Matthew N. Wright
Untrustworthy
Hero Member
*****
Offline Offline

Activity: 588


Hero VIP ultra official trusted super staff puppet


View Profile
June 27, 2012, 01:56:25 AM
 #10

Yep.
I hope there is some lawyer pro bitcoin in this forum that can gives us good advice... 

That's illegal.

By which law?

http://skeptics.stackexchange.com/questions/6852/is-it-illegal-in-the-u-s-for-legal-professionals-to-answer-legal-questions-on-p

It's only illegal under some circumstances, but I think moreso than illegal it could ruin their career and get them debarred.

PatrickHarnett
Hero Member
*****
Offline Offline

Activity: 518



View Profile
June 27, 2012, 02:03:56 AM
 #11

Yep.
I hope there is some lawyer pro bitcoin in this forum that can gives us good advice... 

That's illegal.

By which law?

http://skeptics.stackexchange.com/questions/6852/is-it-illegal-in-the-u-s-for-legal-professionals-to-answer-legal-questions-on-p

It's only illegal under some circumstances, but I think moreso than illegal it could ruin their career and get them debarred.

An interesting link - reminds me of the job I was doing during April/May where in the vast majority of cases (over 80%) people consulted non-lawyers about the full range of legal problems someone might encounter.  The most common source of legal advice - family and friends.  (Not sure if the report we produced is public.)

And, if bitcoin becomes illegal, then I'll have to pay for my BTC magazine with Neopoints or some MMORPG- thing gold (if I ever bothered).  And yes Mathew, I did get my magazine yesterday 26th June.
Matthew N. Wright
Untrustworthy
Hero Member
*****
Offline Offline

Activity: 588


Hero VIP ultra official trusted super staff puppet


View Profile
June 27, 2012, 02:17:31 AM
 #12

Yep.
I hope there is some lawyer pro bitcoin in this forum that can gives us good advice... 

That's illegal.

By which law?

http://skeptics.stackexchange.com/questions/6852/is-it-illegal-in-the-u-s-for-legal-professionals-to-answer-legal-questions-on-p

It's only illegal under some circumstances, but I think moreso than illegal it could ruin their career and get them debarred.

An interesting link - reminds me of the job I was doing during April/May where in the vast majority of cases (over 80%) people consulted non-lawyers about the full range of legal problems someone might encounter.  The most common source of legal advice - family and friends.  (Not sure if the report we produced is public.)

And, if bitcoin becomes illegal, then I'll have to pay for my BTC magazine with Neopoints or some MMORPG- thing gold (if I ever bothered).  And yes Mathew, I did get my magazine yesterday 26th June.

Sweet! Good to hear

sunnankar
Legendary
*
Offline Offline

Activity: 1030



View Profile WWW
June 27, 2012, 05:37:18 AM
 #13

Yep.
I hope there is some lawyer pro bitcoin in this forum that can gives us good advice... 

There are plenty of pro-bitcoin lawyers accepts bitcoin for legal services and some have plenty of products available for sale for bitcoins.

drakahn
Hero Member
*****
Offline Offline

Activity: 504



View Profile
June 27, 2012, 05:48:15 AM
 #14

What will happen if bitcoin becomes illegal? Is this kind of currency is protected by law in most of occidental countries?
Stop the FUD...

14ga8dJ6NGpiwQkNTXg7KzwozasfaXNfEU
PatrickHarnett
Hero Member
*****
Offline Offline

Activity: 518



View Profile
June 27, 2012, 06:04:13 AM
 #15

http://en.wikipedia.org/wiki/Cocaine#Prohibition
http://en.wikipedia.org/wiki/Harrison_Narcotics_Tax_Act

History is interesting.
FreeMoney
Legendary
*
Offline Offline

Activity: 1246


Strength in numbers


View Profile WWW
June 27, 2012, 06:35:39 AM
 #16

No one will use it anymore, it'll be like marijuana. 

Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone.
beckspace
Sr. Member
****
Offline Offline

Activity: 385


Aimed at Jupiter


View Profile
June 28, 2012, 06:32:37 AM
 #17

"Stop that! It's illegal."


You guys have really come up with somethin'
MoneyIsDebt
Full Member
***
Offline Offline

Activity: 180



View Profile
June 28, 2012, 04:43:56 PM
 #18

If you live in a democracy where there's more people than bankers, why would it be voted illegal?

Sig for sale
knight22
Legendary
*
Offline Offline

Activity: 1358


--------------->¿?


View Profile
June 28, 2012, 04:55:26 PM
 #19

If you live in a democracy where there's more people than bankers, why would it be voted illegal?

We are not in a democracy. Central banks run the government from behind. Democracy is an hoax to hide this system.

Vladimir
Hero Member
*****
Offline Offline

Activity: 812


-


View Profile
June 28, 2012, 04:58:06 PM
 #20

You guys do know the difference between illegal and unlawful, don't you?

-
Pages: [1] 2 3 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!