Topic: Are bitcoin investors violators? - page 3. (Read 641 times)

Bitcoin isn’t illegal, though it might not be recognized by a lot of nations, it doesn’t make it illegal still. Perhaps you need to do more research on your subject before making such generalizations as it could be misleading to the population seeking to know on the platform and around you.
Government of most nations simply chose to not be both arms open in accepting of the Bitcoin innovation for a means of finance. Hence, it’s not backed by them and individuals who find themselves within the space are fully liable for there actions and inactions.
We’ve got several trading firms and Bitcoin involved platforms around every nation, putting up signs and what have you for advertisement, even on the media and you wonder why they are not being invited or criminalized if that was against the law. It’s simply because, it ain’t against the law. It’s just not backed by the given government and that’s it.
Though I might chose to be private and not put myself in line for triers, I’ve done nothing wrong in exercising my right to investment.

I am not residing in your country and my country see Bitcoin as a mode of payment so basically my country sees Bitcoin as legal and does not see Bitcoin users as violators.  So the answer to your question is subjective.

But in general, if the government announces that Bitcoin engagement is illegal, then any person who is engaging with Bitcoin whether discretely or openly is labeled as violator.  Depending on the country's law, they will be punished if caught accordingly.


In my country, there is a clear statement of separation of state and religion.  As long as the person is not committing any act that go against the Holy Scriptures, then that person is not sinning. As far as I know buying Bitcoin and trading with it is not written as a sin in any Holy Scripture...  and if you find a direct statement that tells that buying Bitcoin is a sin, then I would gladly stop engaging with Bitcoin activities.

You can actually invest or trade secretly, as there's no need to tell others or the government that you are currently doing it. That won't make you a bad citizen or a violator on their laws. They will only start seeing you crossing against their laws if you are disclosing that you are actually into bitcoin investing.

I don't believe that each of us is not capable to break the law. The government is sometimes giving us a hard time to live our lives the way we want it to be, and if only bitcoin investing could save that, then I would always want to stay a violator but it remains the fact that I am only the one who knows that I am actually violating the law.

Well, first of all, there's a high difference between the illegal and currently non-legal tender. Illegal refers to the prohibition of trading under some state policy and currently non-legal tender refers to a state that is not clear with the policy about it, in this case, you are allowed to trade under some limits and even you can confront some legal actions.

Also, Bitcoin is decentralized, you can use any non-custodial wallet to make some pre-legal policy accumulations, but it's not wise to do so if the state already imposed some kind of strict policy. Here in my region currently state is not clear about weather to accept or not the digital crypto era. You know the dictatorship hehe.

The reason why you see people like us going against government illegal is because BTC is a decentralized currency that is not own by government but it gives access to whoever that want to use it for any exchange in the whole world. BTC was banned in my country some years ago by the CBN governor because, many people in the country prefer to transact business with people with BTC without using the fiat money which is the popular local currency in the country that made the government to reduce the population of BTC users in the country by banned BTC and crypto in the land.

Have you ask yourself the reason government banned BTC or made BTC illegal in some countries that lead to illegal in some countries, if you don't know what government is fighting by making BTC illegal, you can meet some of the parliament members in your country so that they will explain better to you and you will know that they are fighting for their own selfishness not for the betterment of their citizens.

If you are a businessman and love crypto, that's one thing you need to think about. The job is to keep buying and holding. Indeed, we need an exchange to make withdrawals, but in my opinion there are many options if we want to liquidate our assets.

Apart from all that and as a good citizen, I think that if the government is wise and considers it necessary, it would be good if the government could make regulations. Tax levies on crypto asset trading transactions will be carried out by trading organizers because the potential state revenue from crypto taxes can be very large.

If we are to look at it from this perspective, yourself is also violating the rule since you’re also an investor in bitcoin and would want to benefit from it despite the government not legalising it as legal tender in your country. If you bring religion into this, not everyone will be judged since not all believe in religion. Those government leaders that are not allowing the adoption of bitcoin may also be secret investors who are looking to benefit handsomely from bitcoin. With bitcoin level of adoption and popularity, the government officials have no choice but to also secretly invest and publicly despise bitcoin.

Going against the rules isn't always a bad thing to do.  There's times when it's the proper response, like when folks were advocating for equal opportunities for all people no matter their skin color and  when laws seem unjust, weve got an obligation to speak up and object.

Even though some officials have wanted to limit or outlaw Bitcoin, a lot of people see these as old-fashioned ineffective tries to regulate something that's already shown it can take whatever's thrown at it and keep going strong. Just as we get to pick the products and services we pay for, we should also be able to choose the money we like to use.

Have you ever found out why the government prohibits the circulation of Bitcoin in its country or when most other countries have given space to Bitcoin as a commodity asset, these countries still consider Bitcoin to be very illegal. Behind the decision there is always an interest, I think these countries which still consider Bitcoin illegal have a personal interest so that no other currency competes with the fiat currency issued in that country.

Indirectly, the government restrains its people from always using their fiat money so that the system built so far is not threatened by the presence of Bitcoin. If the situation is like this, I would rather be called a violator than have to obey the rules of a government that does not give its people the freedom to choose what can benefit society in general.

This is true, like in my country, many citizens ignorantly think that bitcoin is banned, but this is a lie, it is only the central bank, that prohibits banks from facilitating crypto transactions. We have many exchanges that are doing their businesses without any problems. In fact this misconception about ban is affecting the adoption of bitcoin, in my country, because they'll think that they'll break the law if they engage in anything cryptocurrency transactions. So for bitcoin lovers in countries that are not bitcoin friendly, they should try and find out if it's a total ban or if it has certain restrictions, like in the case of Nigeria.

Everything that involves with bitcoin may always be a threat and illegal for the government, most especially for those countries who ban bitcoin just to control their citizens from not accessing bitcoin. While this could be illegal for them as it could lose the essence of fiat, but for us bitcoin investors this could only be the reason so we can be free from financial control and manipulations. So I don't think it's considered a sin, since we are just trying to exercise our freedom that the government has deprived us.

Disobeying an unfair and unjust government does not make us bad citizens. Bad citizens are those who commit crimes and other illegalities that put other citizens welfare into danger, and bitcoin has no propaganda like that.

Bad citizens are people who engage in activities that harm and could negatively affect the reputation or the economy of a country. I don't think Bitcoin is causing any harm to the country, so I will not be termed a bad citizen because I own it. Even the people who make the law disobey the law and the ban on Bitcoin was made because of the selfish interest of a few influential people.

Legally I am breaking the law but morally I am not. These politicians don't have any genuine reasons for banning Bitcoin. The reason for this ban is purely for personal gains and not for the good of the people.

Religiously, I am not committing any sin because my religion doesn't forbid investing in Bitcoin or using it as a legal tender. My religion promotes freedom and privacy so the ban on Bitcoin is even against my religious tenets.
Citizens are mandated to obey the law of the nation they are staying in. If Bitcoin is banned in your country, you are obliged not to buy or engage in any Bitcoin transaction.

But you have the option of travelling to a neighbouring country where Bitcoin is legal to engage in Bitcoin transactions and move back to your country. If you take this step you didn't disobey any law since you didn't engage in the activity within the territory of a banned territory.

Nothing is surprising in finding that the citizens of a country are investing in BTC or crypto while it is banned by the government. I have seen many people here in BTT who have exposed that they use BTC or other tokens while their governments have banned them. So, there remains nothing surprising here for me, but for you maybe.
I don't consider myself a bad citizen for disobeying the government, but I have to consider myself. Because disobeying your government is directly equal to crime but a crime in one country is not a crime in another country. Same prostitution, alcohol, etc. is a crime in one country but not in another country.

BTC is the same as that but it is not negatively impacting society like all those bad factors, crypto is banned in my country too but I think my government is not considering it because they are afraid they can't control it, or they don't know how to react with it, how to get benefit from it. Because one time they legalized it and then banned it two times. This means they are uncertain of what crypto is, but if some educated person would teach them then they might consider it to be legal.

No.


You think that being disobedient is somehow a bad thing? If you know anything about history you will see that its often quite the opposite.

Is it that you are misunderstanding the concept of Bitcoin as a whole?
Or you are after laws of centralization?
Do you wants to remain dependent if banks financially?

If no then you need not to depend on government when looking for financial stability.
Bitcoin is decentralized and no one will know if you invest in Bitcoin and no law will work because they will not know if you buy Bitcoin through p2p unless you use exchange and leave your money in exchange.

Never try to think about it but if we give it a proper thought then we will realize that yeah we are disobeying the government and it is almost near to sin, but but, not for every country because many countries don't have any religion so does there citizens, but I am a religious person and the country is religious too, and if I will disobey my country's law then I am doing a sin (maybe or maybe not, because I am not so sure about it) I need facts to agree on it.

But crypto is banned by my country and I think it is not a good decision because they have nothing in their hands against crypto to ban it, State banks have said that in a statement during a court trial on legalizing crypto. But due to political suppression crypto community lost the case and crypto was declared banned. Therefore investing in crypto while the country doesn't allow it without any reason, might not be considered as a sin but a crime, yeah, in the law's eye, we are committing the crime.

Well Bitcoin isn't not banned in my own country, there was a time when it was banned but really, why should I feel bad investing my hard earned money on Bitcoin? It's not even the government that's paying me the money that I use to buy Bitcoin, it's none of their business.

The best thing they can do is block people from accepting Bitcoin as a medium of exchange or making payment in the country, I like Bitcoin because it's a good store of value, not just for making payments only, you are free as a bird mate, do what you feel is right..

But do know that no government want the best for it's people, it will be hard to get you under control if you have your own money and power, you can afford abandoning the country for another, but if you are poor you are simply under the control of your government and trust me, this is what they want.

OP, in your topic did you attest to the fact that you are a violator before asking other members?

Bitcoiners do not care about what the government think or do. Bitcoin has been gaining significant ground even in countries that makes it illegal. I think doing it in an open space or publicly that is what may seem like you violating the laws of the government. But when you keep calm and remain anonymous no one will ever notice or find out you are into Bitcoin. It can be tag as illegality but deep down we know the truth that Bitcoin has no negative effect to the economy of any country.

According to what I know, in most countries there are no clear laws and all accusations are made using anti-money laundering or tax evasion laws, especially if we are talking about amounts exceeding 10k USD.
If your country prohibits Bitcoin, do not sell and adhere to the laws. However, if there are no clear laws, it is better to stay away from trading with large amounts and to be within the circle of those you trust.

Bitcoin isn’t illegal in many countries but what the government are doing is they don’t support it, let’s take a look at the casino industry, many people do not like or support them even in this forum and they do not advertise them but do they stop others from engaging in them No, they believe you bear the risk. If you look at what most countries do they advise people against bitcoin and cryptocurrency at large but that is left for you to take. If you risk it and it turns out bad for you, the government isn’t coming to aid that is just it.

I will give example of Nigeria since it’s your country too, the government frowns at bitcoin but didn’t ban it that is why you see people publicly going about saying they are into it. In a country like China where it was once banned you could see the government coming after everything related to it even mining. In this kind of country you can also invest because it is your money but you can’t publicize it or advocate because it is against the law and doing that makes you a law breaker. so there is difference