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hanibel

Legality of bitcoin?

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Legally throughout the world bitcoin is not a means of payment. But this does not change the fact that bitcoin is a means of payment.Some countries prohibit the use of this crypto currency, because of political risks and of the lack of control of coins by the state. And there are countries that completely allow this currency, any purchases, sales, exchanges. If you want to understand more about this, this article will help you. Here you can learn about all the subtleties and risks of using bitcoin in any country.

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you can explain it in here instead rather than telling peole to visit other site. bitcoin already used as payment, even when some country prohibits it use.

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7 hours ago, cheewy said:

you can explain it in here instead rather than telling peole to visit other site. bitcoin already used as payment, even when some country prohibits it use.

Basically, it is one of the right thing to consider to post the original link of the article rather than to copy the contents of it. But if the contents is plain and simple, we can just post it in our own words so others can absorb it very well. Going back to the topic, the legality of bitcoin mainly depends on the country where we are at. They decide whether to ban it or not.

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Bitcoin or other crypto currencies legality has a long story, yes authority didnt prevent us from using crypto because also they dont have access to it and they cant control it, so when it comes to the legality of crypto's it for the government to decide it they need to consider much more aspect before accepting a crypto as one of their currency. But i hope crypto will be known by many around the world because they dont know what crypto currency can do to benefit us.

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I think bit coin is safe but the other coin is not that safe. Maybe we should be very careful on picking any coin to invest in. Check it's credibility and it's popularity. Check it's value and if it's accessible if you see it good in these aspects maybe the coin is profitable or can be useful. I see it is good to have bitcoin and we have to help on promoting it. Because bitcoin is one of the things that we can have. To have a proof of owning something. Or simply money. We can bring it on any country without having being checked on the airport. We can easily transfer funds using it. That is why we should promote bitcoin. And on promoting it we can help to give bitcoin a higher value .

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I think the bitcoin itself is legal. It's not the crap coins that states press indefinitely and create inflation. so bitcoin cannot be blocked by any ban. people will certainly accept it. Thanks for your article, I will read it.

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Still Bitcoin is not legal in the great and powerful countries but i hope so soon it will be legal and so many many countries will launches their own coins and peoples will start to buy that coin. Crypto is the great market and so many peoples will join that day by day. 


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Bitcoin is legal although not vulgar I meam not governments allow the usage of it. Cryptotocurrency is accepted by people and even some business. It cannot be considered as an illegal as a matter of fact, it keep on being bigger and growing each day.

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The legality of bitcoin is probably more far right now because many countries and government dont want to legalize bitcoin because of the casualties that it may cost in the world market.

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The issue of the legality of bitcoin has been discussed everywhere, especially online media. Simple bitcoin is decentralized and volatility these two things that make bitcoin not accepted by the government. Therefore most of the countries do not prohibit the use of bitcoin, but not yet legal right. So it is not yet become fiat alternative. Related to the issue of legality is in the decisions of each country.
 

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I dont think every country can accept bitcoin  like fiat, may be country thats legalized bitcoin have some resticted area too, they worried this cryptocurrency crush on fiat currencies

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I think countries ban and prohibits the use of bitcoin because they are in economic competition, and the more the currency is used by many people the more valuable it becomes ie. national currency.


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Bitcoins are not legal in some countries because It can make fiat unusable. Also, bitcoins have freedom in changing its value without the laws and taxes of government. Some people cannot accept change and advancement.

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If some country accept Bitcoin and crypto, is that part of legalize crypto? What's make different Bitcoin legal and ilegal in term? Part of local currency? 

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My anticipation is that after 10 years almost 78% of all the world's population will use bitcoin, while almost 68% of all the countries in he world has banned it.


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9 hours ago, hanibel said:

Legally throughout the world bitcoin is not a means of payment. But this does not change the fact that bitcoin is a means of payment.Some countries prohibit the use of this crypto currency, because of political risks and of the lack of control of coins by the state. And there are countries that completely allow this currency, any purchases, sales, exchanges. If you want to understand more about this, this article will help you. Here you can learn about all the subtleties and risks of using bitcoin in any country.

There is no doubt that bitcoin is decentralized but still it can be traced. The fact i'm discussing here is very important. We are using internet and this web of inter net is very deep which known as deep web. We are only 3-5% part of whole web which known as normal internet other are dark, deep and marina web. Just think if 3-5% is enough then how become big other web will be.So their the mode of payment is btc and crypto only. I can't say here but every thing can be done from this deep web. So political officers also do corruption by money laundring through crypto.

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A lot has accepted bitcoin as a store of assets. Hence, it is very important that we know that the coin is here to stay and has a legal background of been used since their are know your customer measures that are applied by this exchanges that are centralized.

3 minutes ago, cryptojolia said:

the European Union has passed no specific legislation relative to the status of bitcoin as a currency, but has stated that VAT/GST is not applicable to the conversion between traditional (fiat) currency and bitcoin.

Yes, but the crypto currency exchanges that are operating within the European Union has legal frameworks if carrying out transactions with the residents within such jurisdiction. This gives the users with verified documents to carry out trades with them.

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In a country called Belarus, Bitcoin-in-law. All revenues from mining are not taxed. True, settlements in bitcoins are still rare.

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People no longer care about governments' views on Bitcoin
Bitcoin is rising despite restrictions and laws that in some countries amount to criminalization
People accept Bitcoin

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In the world there are countries that limit access to cryptocurrencies, there are countries that have imposed certain rules on cryptocurrencies and countries where there is no specific regulation.

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Yes this idea was really true we cannot avoid to losing in trading because we cannot know exactly what will be the price of any altcoin in the market, this is also indicate that trading need a lot of research and learning in some technical aspect, we can earn money in a short time in trading but we can also lose in short period of time.

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Many countries doesn’t used bitcoin currency as a legal currency and that’s reason many people does not trust in bitcoin but in future I think many countries used bitcoin as a legal currency than trust rate of btc automatically changed 


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You cannot skip the loss, you can minimize it however it's a part of this business and you have to get used to it. Otherwise trading is not for you.

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in my knowledge bitcoin is still illegal in the many countries which are developed but bitcoin is illegal there, but hope for best it will become legal in every country of the world and it will take few years then you see the bitcoin.


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There were a lot of fuzz about the legality of Bitcoin in Vietnam. This is due to the Vietnamese media mixing up the wording between “illegal” and “unregulated”, and the foreign media based on that incorrect translation to make the wrong assumption.  According to the official statement from State Bank of Vietnam, Bitcoin is not a legal tender in Vietnam and using Bitcoin is not protected by law (same to the other countries). Nowhere in the statement it claims that using Bitcoin is illegal.

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