Topic: Is bitcoin mining actually legal? (Read 45177 times)
Legal depending on where you are mining from
It seems all so good maybe even to good to be true.
I really want to start mining and willing to buy a few asic devices. But if this is against the law i dont know.
How would i ever get the money cash
not that i want it to be cash but just to be sure.
Cuz i live in europe and i seem to have more trust in bitcoins then euro lol...
Greetings uSploit
I really want to start mining and willing to buy a few asic devices. But if this is against the law i dont know.
How would i ever get the money cash
not that i want it to be cash but just to be sure.Cuz i live in europe and i seem to have more trust in bitcoins then euro lol...
Greetings uSploit
Yeah - just by the gear and get started, but you may want to keep your mouth shut about it, so not to give any people any ideas.
Another noob post. Yes, it's legal.
Noob Post #2.
Yes its legal.
Numbers are legal.
Been mining for 1.5 years now and havent been arrested!
Yes its legal.
Numbers are legal.
Been mining for 1.5 years now and havent been arrested!
I forgot about the Bernard von NotHaus case though, arrested by the FBI and labeled a Domestic Terrorist...
“Attempts to undermine the legitimate currency of this country are simply a unique form of domestic terrorism,” U.S. Attorney Tompkins said in announcing the verdict. “While these forms of anti-government activities do not involve violence, they are every bit as insidious and represent a clear and present danger to the economic stability of this country,” she added. “We are determined to meet these threats through infiltration, disruption, and dismantling of organizations which seek to challenge the legitimacy of our democratic form of government.”
http://www.fbi.gov/charlotte/press-releases/2011/defendant-convicted-of-minting-his-own-currency
His crime? He created a gold/silver back dollar, and when they checked, he had every oz he claimed was backing it! $7m worth! (which they now want to seize)
“Attempts to undermine the legitimate currency of this country are simply a unique form of domestic terrorism,” U.S. Attorney Tompkins said in announcing the verdict. “While these forms of anti-government activities do not involve violence, they are every bit as insidious and represent a clear and present danger to the economic stability of this country,” she added. “We are determined to meet these threats through infiltration, disruption, and dismantling of organizations which seek to challenge the legitimacy of our democratic form of government.”
http://www.fbi.gov/charlotte/press-releases/2011/defendant-convicted-of-minting-his-own-currency
His crime? He created a gold/silver back dollar, and when they checked, he had every oz he claimed was backing it! $7m worth! (which they now want to seize)
Printing more money just devalues the money we have. Maybe printing money should be illegal, because the last time I checked, the number in my bank account did not go out when more $ was printed...
Bit coin is something new. Excited about it, but a bit wary. I'm on board, but cautiously.
Bit coin is something new. Excited about it, but a bit wary. I'm on board, but cautiously.
No never bought a scarf. But i think btc ar emore profit though
Nah, see what happens with scarves is:
- Designer in Paris "invents" new scarf design
- The scarf is then produced by 7 year old girls in India for a fraction of a Eurocent
- In Paris the scarf is now sold for 125 Euro because it says "Designer" on it.
No never bought a scarf. But i think btc ar emore profit though
Anyways europe hase strange and many laws. Not sure what to call legal anymore.
Hope it crashes belgium was good on its own lol
Anyways europe hase strange and many laws. Not sure what to call legal anymore.
Hope it crashes belgium was good on its own lol
....
If you buy goods for BTC 1, you have no legal backing, and no tax liability. (except in USA who made barter taxable!)
If you buy goods for BTC 1, you have no legal backing, and no tax liability. (except in USA who made barter taxable!)
Not sure that's correct in Europe, as far as I know any contractually agreed exchange of goods is legally binding. So if you wanted to exchange a pile of rocks for a working bicycle but got a faulty bicycle you could take the bicycle seller to court to get your rocks back.
You have to give the barter transaction a legal tender value then it becomes a swap contract.
Well since bitcoins are not really 'money' (not legal tender anyway) yet, taxes wouldn't matter unless you sold it for whatever fiat currency. Other than that can't see what difference is between mining bitcoins and knitting a scarf. )
)A scarf is less profitable
lolI take it you never bought a scarf.
Well since bitcoins are not really 'money' (not legal tender anyway) yet, taxes wouldn't matter unless you sold it for whatever fiat currency. Other than that can't see what difference is between mining bitcoins and knitting a scarf. )
)A scarf is less profitable
lol
Well since bitcoins are not really 'money' (not legal tender anyway) yet, taxes wouldn't matter unless you sold it for whatever fiat currency. Other than that can't see what difference is between mining bitcoins and knitting a scarf. )
) 
It's certainly legal, but it may still be too good to be true. It costs thousands to build a machine that will produce a steady income, and that will all be gone when ASIC miners come out. Once ASICs are out, ASIC users will still have to spend thousands to make a profit.
I was wondering about this. Thanks!
Dont even know why i asket in my opinion fu.. state sorry for the f word...
Because state asks more money from us then we can get our hands on yes europe sucks that hard.
Thats why im looking for alternative money making ways
Because state asks more money from us then we can get our hands on yes europe sucks that hard.
Thats why im looking for alternative money making ways
Bitcoin is legal, just as PayPal, Zynga Dollars, and poker chips are.
It's not illegal to create your own money, only illegal to counterfeit legal tender.
Legal tender has the full backing of the state, bitcoin doesn't.
If you buy goods for BTC 1 / $70 you have legal binding contract recognised by the law and tax man!
If you buy goods for BTC 1, you have no legal backing, and no tax liability. (except in USA who made barter taxable!)
It's not illegal to create your own money, only illegal to counterfeit legal tender.
Legal tender has the full backing of the state, bitcoin doesn't.
If you buy goods for BTC 1 / $70 you have legal binding contract recognised by the law and tax man!
If you buy goods for BTC 1, you have no legal backing, and no tax liability. (except in USA who made barter taxable!)
Of course it is. But such thing generally depend on your jurisdiction, which is unknown. Do not ask any permission just start mining.
That was kinda the plan
Only wanted to know if anyne should know it or not lol Anyways i still have some old bills from my country hope if euro crashes we get to use those lol
Of course it is. But such thing generally depend on your jurisdiction, which is unknown. Do not ask any permission just start mining.
Well, what would not be legal? Earning money is legal after all. But, let me remind you: officially you have to pay taxes when you earn more than €xxx (not sure what the amount is, it differs for each country).
I'm not saying everyone does this, but that's the only 'illegal' part of bitcoins -> not paying taxes when you have to.
I'm not saying everyone does this, but that's the only 'illegal' part of bitcoins -> not paying taxes when you have to.
It seems all so good maybe even to good to be true.
I really want to start mining and willing to buy a few asic devices. But if this is against the law i dont know.
How would i ever get the money cash not that i want it to be cash but just to be sure.
Cuz i live in europe and i seem to have more trust in bitcoins then euro lol...
Greetings uSploit
I really want to start mining and willing to buy a few asic devices. But if this is against the law i dont know.
How would i ever get the money cash
not that i want it to be cash but just to be sure.Cuz i live in europe and i seem to have more trust in bitcoins then euro lol...
Greetings uSploit
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