knight22 (OP)
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June 27, 2012, 12:15:59 AM
Last edit: September 29, 2012, 06:42:23 PM by knight22 |
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What will happen if bitcoin becomes illegal? Is this kind of currency is protected by law in most of occidental countries?
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"I'm sure that in 20 years there will either be very large transaction volume or no volume." -- Satoshi
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NothinG
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June 27, 2012, 12:19:58 AM |
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If I'm not mistaken, a currency can't become Illegal.
It just wont be allowed in certain places to be publicly trade-able.
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Fuzzy
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June 27, 2012, 12:22:48 AM |
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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.
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knight22 (OP)
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June 27, 2012, 12:26:48 AM |
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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? |
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Fuzzy
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June 27, 2012, 12:37:36 AM |
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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. |
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knight22 (OP)
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June 27, 2012, 12:44:23 AM |
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Yep.
I hope there is some lawyer pro bitcoin in this forum that can gives us good advice...
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Matthew N. Wright
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June 27, 2012, 12:45:50 AM |
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Yep.
I hope there is some lawyer pro bitcoin in this forum that can gives us good advice...
That's illegal. |
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ArticMine
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June 27, 2012, 12:49:16 AM |
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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 |
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knight22 (OP)
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June 27, 2012, 12:59:09 AM |
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Yep.
I hope there is some lawyer pro bitcoin in this forum that can gives us good advice...
That's illegal. By which law? |
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PatrickHarnett
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June 27, 2012, 02:03:56 AM |
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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. |
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Matthew N. Wright
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June 27, 2012, 02:17:31 AM |
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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 |
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drakahn
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June 27, 2012, 05:48:15 AM |
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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
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FreeMoney
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June 27, 2012, 06:35:39 AM |
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No one will use it anymore, it'll be like marijuana.
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Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone. |
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beckspace
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June 28, 2012, 06:32:37 AM |
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"Stop that! It's illegal."  |
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MoneyIsDebt
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June 28, 2012, 04:43:56 PM |
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If you live in a democracy where there's more people than bankers, why would it be voted illegal?
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knight22 (OP)
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June 28, 2012, 04:55:26 PM |
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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. |
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Vladimir
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June 28, 2012, 04:58:06 PM |
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You guys do know the difference between illegal and unlawful, don't you?
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