How to deal with the situation of non-recognition? - page 2.

Daniel91

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Quote from: Dudeperfect on May 19, 2017, 07:37:38 AM

Hi,

Since my friends have an idea that I am associated with bitcoin and I transact in it, they send me the stuff from the media if they come across. In most of the media pieces, bitcoin is mentioned as 'bitcoin is an unrecognised currency' and at that point, the people misunderstand that if it's not recognised (legal) yet then it's definitely illegal. I am bit confused, how to deal with such situation?

Best
Dudeperfect

You don't need to explain or complicate to much.
Just simple say to your friends than bitcoin is like virtual money or tokens, which we can use to buy some digital staff online or exchange for real money and withdraw to bank accounts.
At that moment, we report it as ''second income'' to our tax authorities and pay taxes.
So, if you explain in this way, everybody will understand.
You can add that we have also bitcoin ATM and debit cards, many merchants which accepts bitcoin etc.

iram3130

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Quote from: bamboylee on May 20, 2017, 04:18:32 AM

It was worse a few years ago. Bitcoin was labeled money for illegal transactions only. Slowly over the years, that has changed and countries are starting to recognize bitcoin. Now, if your friends believe those fud news, then let them be. You know better.

We need to educate those people about the Bitcoin universe. People are still ignorant about bitcoins and other cryptocurrencies, once they understand how and why people has to use cryptocurrencies then they'll gladly accept Bitcoin.

Kemarit

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Quote from: Dudeperfect on May 19, 2017, 08:34:52 AM

Well, yes in many countries bitcoin is legal but in that case it is authorised and recognised by the governments in my country, government has not yet recognised the bitcoin in terms of law (not given legal status) thus it is misconception in minds of most of the people (thanks to the media) that it is illegal to use it.

Your misconception is wrong. Mainstream media is still branding bitcoin as illegal (Ponzi, HYIP, etc). but it is not. I don't know which country you guys are from but you have to understand that bitcoin is global. No country or government can stop someone from using bitcoin. Again, media is not a source of information specially about bitcoin. Since you are already a member here, feel free to go around this forum and try to learn as much information as you can. Bitcoin is not illegal to used.

bamboylee

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It was worse a few years ago. Bitcoin was labeled money for illegal transactions only. Slowly over the years, that has changed and countries are starting to recognize bitcoin. Now, if your friends believe those fud news, then let them be. You know better.

FruitsBasket

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Quote from: aso118 on May 20, 2017, 04:06:48 AM

Quote from: Dudeperfect on May 19, 2017, 07:37:38 AM

Hi,

Since my friends have an idea that I am associated with bitcoin and I transact in it, they send me the stuff from the media if they come across. In most of the media pieces, bitcoin is mentioned as 'bitcoin is an unrecognised currency' and at that point, the people misunderstand that if it's not recognised (legal) yet then it's definitely illegal. I am bit confused, how to deal with such situation?

Best
Dudeperfect

You need to educate people. The people who write those media articles are no experts, and at times giving a background about Bitcoin to your friends helps. This may be tiresome, but if you do explain it to your friends, I am sure they will pick up the threads. This is how Bitcoin adoption increases.

Bitcoin will be on the news soon it is amazing me with the current price growth and I am sure the media will cover that topic too. I do agree with you that we need to tell everyone about bitcoin and crypto, it is the feature of decentralization.

aso118

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Quote from: Dudeperfect on May 19, 2017, 07:37:38 AM

Hi,

Since my friends have an idea that I am associated with bitcoin and I transact in it, they send me the stuff from the media if they come across. In most of the media pieces, bitcoin is mentioned as 'bitcoin is an unrecognised currency' and at that point, the people misunderstand that if it's not recognised (legal) yet then it's definitely illegal. I am bit confused, how to deal with such situation?

Best
Dudeperfect

You need to educate people. The people who write those media articles are no experts, and at times giving a background about Bitcoin to your friends helps. This may be tiresome, but if you do explain it to your friends, I am sure they will pick up the threads. This is how Bitcoin adoption increases.

soul-impact

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Quote from: Dudeperfect on May 19, 2017, 08:34:52 AM

Well, yes in many countries bitcoin is legal but in that case it is authorised and recognised by the governments in my country, government has not yet recognised the bitcoin in terms of law (not given legal status) thus it is misconception in minds of most of the people (thanks to the media) that it is illegal to use it.

It comes from ignorance of people. People have bad habits, when they do not know about something, they become scared, they do not understand bitcoin, so they see it as a ghost, they fear breaking the law.

Dudeperfect

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Well, yes in many countries bitcoin is legal but in that case it is authorised and recognised by the governments in my country, government has not yet recognised the bitcoin in terms of law (not given legal status) thus it is misconception in minds of most of the people (thanks to the media) that it is illegal to use it.

DoublerHunter

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Quote from: Dudeperfect on May 19, 2017, 07:37:38 AM

Hi,

Since my friends have an idea that I am associated with bitcoin and I transact in it, they send me the stuff from the media if they come across. In most of the media pieces, bitcoin is mentioned as 'bitcoin is an unrecognised currency' and at that point, the people misunderstand that if it's not recognised (legal) yet then it's definitely illegal. I am bit confused, how to deal with such situation?

Best
Dudeperfect

I think it is good to explain bitcoin with your own words and try to explain that bitcoin is legal and we can do a lot of things with it. Bitcoin is not yet recognized because the media is not that focus on the technology stuff but if you do a good explanation then you will make their mindset opposite and they will understand bitcoin very well.

soul-impact

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Quote from: Dudeperfect on May 19, 2017, 07:37:38 AM

Hi,

Since my friends have an idea that I am associated with bitcoin and I transact in it, they send me the stuff from the media if they come across. In most of the media pieces, bitcoin is mentioned as 'bitcoin is an unrecognised currency' and at that point, the people misunderstand that if it's not recognised (legal) yet then it's definitely illegal. I am bit confused, how to deal with such situation?

Best
Dudeperfect

I think that depends entirely on your understanding and ability to present. We all are legitimate bitcoin, it has been accepted by many countries and will be more. Although your country has not accepted bitcoin, but the government does not prohibit it, it's like something out of the law, it's unmanaged.

pedrog

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Why do you have to deal with it?

You can check this article for legality of bitcoin:

https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory

It has been declared a currency in a lot of places, for legal purposes, I mean.

Dudeperfect

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Activity: 1190

Merit: 534

Hi,

Since my friends have an idea that I am associated with bitcoin and I transact in it, they send me the stuff from the media if they come across. In most of the media pieces, bitcoin is mentioned as 'bitcoin is an unrecognised currency' and at that point, the people misunderstand that if it's not recognised (legal) yet then it's definitely illegal. I am bit confused, how to deal with such situation?

Best
Dudeperfect

Topic: How to deal with the situation of non-recognition? - page 2. (Read 1579 times)