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Topic: How are under 18's using Bitcoin? - page 4. (Read 3363 times)

newbie
Activity: 27
Merit: 0
February 20, 2014, 09:57:40 AM
#12
Services like QuickBT.com use a debit card to pay for purchases - in Canada you can be as young as 9 with a debit card.
hero member
Activity: 532
Merit: 500
Currently held as collateral by monbux
February 20, 2014, 09:56:08 AM
#11
Some under 18's have rich daddy.

And how could a currency be illegal under 18?

If they are using a exchange to withdraw Bitcoin to usd or what ever fiat currency then that would illegal and I should imagine their parents could get into big trouble.

Surely they're father would do it instead of a inexperinced minor.
sr. member
Activity: 266
Merit: 250
I want free lunch, i'm gonna go with this guy.
February 20, 2014, 09:54:21 AM
#10
Some under 18's have rich daddy.

And how could a currency be illegal under 18?
hero member
Activity: 532
Merit: 500
Currently held as collateral by monbux
February 20, 2014, 09:53:19 AM
#9
They mine. Buying Btc is not the only way to get it you know. Some might have done it long time ago, others mine alt coins and exchange for btc. They won't be able to change those btc to fiat until they are 18 that is for sure.

How would under 18's with no jobs be able to afford mining equipment that sounds a little unrealistic to me.
sr. member
Activity: 406
Merit: 250
February 20, 2014, 09:51:26 AM
#8
They mine. Buying Btc is not the only way to get it you know. Some might have done it long time ago, others mine alt coins and exchange for btc. They won't be able to change those btc to fiat until they are 18 that is for sure.
hero member
Activity: 532
Merit: 500
Currently held as collateral by monbux
February 20, 2014, 09:40:05 AM
#7
Thought as much I don't think they would make a big profit with selling alt coins and converting them into Bitcoin.

When you're under 18 "big profit" has a different meaning than when you have adult revenues (and expenses) Wink

That's a good point that I never actually considered also under a certain age you do not need to pay taxes or as much taxes which in a way they could benefit from I guess.
legendary
Activity: 1100
Merit: 1032
February 20, 2014, 09:37:18 AM
#6
Thought as much I don't think they would make a big profit with selling alt coins and converting them into Bitcoin.

When you're under 18 "big profit" has a different meaning than when you have adult revenues (and expenses) Wink
hero member
Activity: 532
Merit: 500
Currently held as collateral by monbux
February 20, 2014, 09:35:33 AM
#5
Thought as much I don't think they would make a big profit with selling alt coins and converting them into Bitcoin.
sr. member
Activity: 342
Merit: 250
February 20, 2014, 09:27:33 AM
#4
I keep seeing people claiming to be well under 18 and claiming they have made a decent amount of Bitcoin yet how can they? They can't purchase from any excahnge because you need to be 18 in order to sign a legal contract and buy from any exchange.

So they are lying unless they sell services but they have no experince in most things sorry for the rant but its annoying when people claim to be young and have enough experince to make well over 50 Bitcoin in such a short period of time without buying from a exchange.

They are 100% lying. I used to lie all the time before i turned 18. No one knows and no one cares. It's really not a big deal.
legendary
Activity: 1100
Merit: 1032
February 20, 2014, 09:23:34 AM
#3
I keep seeing people claiming to be well under 18 and claiming they have made a decent amount of Bitcoin yet how can they? They can't purchase from any excahnge because you need to be 18 in order to sign a legal contract and buy from any exchange.

They just mine any alt-coin then trade them for BTC.
hero member
Activity: 532
Merit: 500
Currently held as collateral by monbux
February 20, 2014, 09:20:46 AM
#2
I'm pretty sure that it is also against the law to be using Bitcoin under the age of 18 in some countries?
hero member
Activity: 532
Merit: 500
Currently held as collateral by monbux
February 20, 2014, 09:18:39 AM
#1
I keep seeing people claiming to be well under 18 and claiming they have made a decent amount of Bitcoin yet how can they? They can't purchase from any excahnge because you need to be 18 in order to sign a legal contract and buy from any exchange.

So they are lying unless they sell services but they have no experince in most things sorry for the rant but its annoying when people claim to be young and have enough experince to make well over 50 Bitcoin in such a short period of time without buying from a exchange.
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