Topic: Bitcoin is illegal in some country (Read 1786 times)
The only reason for bitcoin to become illegal is if there is other people who are paying drugs or guns using bitcoins to avail those things online and it was a very bad position for bitcoins because this things are possible.
Bitcoin is illegal in some countries, that's true. But I'm confused with the punishment that should be given to people using bitcoin in a country that forbids bitcoin. I think that a proper penalty for such a thing should not be more than a fine of money. Or even if you have to be in jail, do not take too long.
I do not know what causes bitcoin to be illegal in a country. but, I think it would be very harmful. well, bitcoin can provide a very good boost for each country that receives it. it is able to make people grow.
Yes I think bitcoin is illegal in some country but most of the countries bitcoin are always be acceptable to be used for any transaction. So I'm still hoping to bitcoin will be the next best legal currency in the whole world.
Yes it is. I think the number of country in this list is increasing because these government afraid about Bitcoin cause they can't control Bitcoin because of the out of date technology in there country. Beside they don't have enough ability to get taxes from Bitcoin income of Bitcoin users in their country so it'll be a good way to people to evade the taxes and it'll be a big loss for the government.
bitcoin in some countries is legend, because the government in the country does make a rule that regulates the transaction by using bitcoin which is prioritizing the profits for the country and does not interfere with the exchange rate of the country's currency
I think in most of the countries bitcoin is not illegal but yet they do not take any decision about bitcoin, I am hopeful that very soon they are going to turn bitcoin as legal currency.
the use of the cryptocurrency is illegal in some countries and punishable special at MOROCCO (North Africa)
The fact that Bitcoin can be used anonymously for any transaction, wherever and whenever makes criminals interested in using it. That's why most of the country has not given certainty about the use of Bitcoin in the country. Some countries indirectly approve the use of Bitcoin but with some oversight. 
Punishable in Morocco? What kind of punishment are we talking about? I wonder why they do not embrace it.
It says that Morocco, a North African country, being the newest ban happened last month November this year. Not only bitcoin but also other cryptocurrency were banned in that country for some reason. According to an existing law in their country, that kind of transaction that is virtual is a case of infringement and is liable to have penalties such as fines. Maybe these are the said punishments. The Morocco's Ministry of Finance declared this banning of bitcoin in their country.
yes bitcoin is illigal in some country because of its high value and misuse also.
Bitcoin is illegal in some countries, that's true. But I'm confused with the punishment that should be given to people using bitcoin in a country that forbids bitcoin. I think that a proper penalty for such a thing should not be more than a fine of money. Or even if you have to be in jail, do not take too long.
I do not know what causes bitcoin to be illegal in a country. but, I think it would be very harmful. well, bitcoin can provide a very good boost for each country that receives it. it is able to make people grow.I believe one's, economy would be better if they were able to utilize the bitcoin function as it should be.
I didn't hear that it was declared illegal...not everywhere it is accepted and not everywhere it is welcome, but it has only been banned in China
I wish people would just start being accepting of cryptocurrency instead of bashing it just because it isn't green paper or tangible and because of the fact that they can't collect tax as easily on it.
That's not the major reason I don't think. Yeah, it can't be regulated, but the thing is, BTC isn't practical for everyday use as of right now. The fees associated with micro transactions are way to high and the fact that there is a chance that transactions can be double spent and no confirmations etc. This is what the government is banging its head over.
Just yesterday we have been discussing with friends if our government (Ukraine) could make the Bitcoin illegal and what should we do then.
the use of the cryptocurrency is illegal in some countries and punishable special at MOROCCO (North Africa)
There are really countries that remain to be very hard against Bitcoin and the rest of the cryptocurrencies. Many of these countries are either in the continent where digital lifestyle is still very much wanting or in the Arab portion of the world. I don't exactly understand why but it seems to me that those arab countries are kind of close-minded not just when it comes to crypto but also in so many aspects as well.
Yes, bitcoin is illegal in some countries of the world. Countries that prohibit the use of bitcoin must have their own reasons. In my country for example, the government forbids the use of bitcoin as a means of payment because they are unable to guarantee the security of using the bitcoin. But the government allows its citizens to store bitcoin and use it in other countries that allow the circulation of bitcoin.
What is meant by illegality? If the government catches me with bitcoin, then I face punishment for it? Or am I forbidden to buy and pay them on the Internet?
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What is meant by illegality?
it means illegal or not allowed. some countries actually banned bitcoin for some reasons and because bitcoin is decentralized therfor it is not regulated and can somehow result to illegal activities like money laundering.
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If the government catches me with bitcoin
it depends on the country your in and depends also in their law or rules. some countries like bangladesh states that who ever caught with bitcoin or using bitcoin will be jailed and punished accordingly. though it also depends on how severe damage you have delt. but i think its impossible to be track down by authorites because bitcoin is kinda anonymouse.
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am I forbidden to buy and pay them on the Internet?
yes , if bitcoin is restricted in your country, though you can still buy and sell or access those restricted sites using a virtual private network or vpn.
Well I mean, is something like this all that surprising? In smaller countries, where they're already ridden with corrupution and the governments trying to squeeze as much as they can out of people. Do you think they're going to allow for a decentralized currency to come in as a way to hide money from the government? No, they're obviously not going to leave any power to anyone else. Because if they do, that'll lead them down a long line of them probably losing their position for being too WEAK.
There's a lot of money to be made in centralized banking, especially for governments and banks, teehee.
There's a lot of money to be made in centralized banking, especially for governments and banks, teehee.
you are right, I totally agree. even for a small country there will be no effect for bitcoin or crypto. that is what you have said. the government holds only for individual and group interests. that is what happens to corrupt countries
I am suprised to see that using Bitcoin is punisheable in some countries. I mean, if you know bitcoin is forbidden on your country, you just have to use VPN to buy and sell, there's no secret. The trend is more often the governments banning the cryptocurrency all around the world. In my country, the IRS have said that Bitcoin might be dangerous because it lacks of regulations.
The problems are the consequences of doing such a thing, are you willing to go to jail just to hold some Bitcoin, because many people are very brave when they do not face the consequences of their actions but many will lament doing an illegal thing once they are caught, so if bitcoin is illegal in your country then it may be a good idea to not hold it. the use of the cryptocurrency is illegal in some countries and punishable special at MOROCCO (North Africa)
Let's be honest, who cares what poor countries do with Bitcoin? Most of countries which ban Bitcoin have financial problems and they are simply afraid of people switching over completely to Bitcoin. If I were a resident of such country I would consider moving out to another country or simply continuing using Bitcoin.
Few weeks ago, the government of my country establishes some new law about bitcoin and all of them are negative ! I think not many countries instead of some countries are more right. So many countries banned bitcoin as a illegal money and some of them can lead you to the jail if you do anything about bitcoin as holing, trading of mining bitcoin. However, law is just law, citizen has their own experiences and they keep doing what they believe.
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