Is Bitcoin legal?

[armanda90]

We can use Bitcoin for investment in anywhere but it can't be a payment tool in anywhere. It is because each country may have their own regulation or laws. Some countries enable us to use Bitcoin for payment purposes. But there are still many countries that prohibit us to use it for payment purposes due to some reasons. In my country, it can't be used for payment purposes because we only have 1 payment tool (Rupiah). The solution: we convert our Bitcoin to our currency in the local exchanges. It is quite easy, there is no complicated requirements.

Regarding the taxes, we pay taxes every time we trade coins on local exchanges. The government directly get the taxes through the local exchanges.

This how we utilize Bitcoin in my country, it can be different in your country and in other countries.

Did you memorize what happen with tourism in Bali when converting their bitcoin to local currency and have under rest? in our country bitcoin become legal currency transaction and not allowed using bitcoin for payment transaction but government have regulation bitcoin could be investment assets or commodity assets.
Regular paid taxes every trading in local exchange and I want give more contribution helping our country trough taxes transaction, hope in the future need transparent with taxes transaction allocated for and give benefit for cryptocurrency with internet access and some exchange have been block.

[DAMKAR]

We can use Bitcoin for investment in anywhere but it can't be a payment tool in anywhere. It is because each country may have their own regulation or laws. Some countries enable us to use Bitcoin for payment purposes. But there are still many countries that prohibit us to use it for payment purposes due to some reasons. In my country, it can't be used for payment purposes because we only have 1 payment tool (Rupiah). The solution: we convert our Bitcoin to our currency in the local exchanges. It is quite easy, there is no complicated requirements.

Regarding the taxes, we pay taxes every time we trade coins on local exchanges. The government directly get the taxes through the local exchanges.

This how we utilize Bitcoin in my country, it can be different in your country and in other countries.

Did you memorize what happen with tourism in Bali when converting their bitcoin to local currency and have under rest? in our country bitcoin become legal currency transaction and not allowed using bitcoin for payment transaction but government have regulation bitcoin could be investment assets or commodity assets.
Regular paid taxes every trading in local exchange and I want give more contribution helping our country trough taxes transaction, hope in the future need transparent with taxes transaction allocated for and give benefit for cryptocurrency with internet access and some exchange have been block.

If it provides tax benefits, I think if we carry out transactions on the local exchange there will be no problem, because it also resolves state revenue with taxes. Bitcoin is only permitted for investment, and the government does not yet allow using bitcoin as a payment method. Hopefully it will be allowed in the future.

[Dr.Bitcoin_Strange]

It depends on what Bitcoin is used for, if Bitcoin is used for money laundering, crime or drug abuse then Bitcoin will become illegal. It could also be the other way around because it's the same for crimes.
But I also believe that if Bitcoin is used for good it will become legal and accepted by society. I have seen fundraising for people who have experienced disasters by collecting funds using Bitcoin.

Yes, I think you're absolutely right. Bitcoin has been chastised for its potential for criminal conduct, but it has also been utilized for charitable purposes, such as those you highlighted. Some have even begun to propose that Bitcoin should be controlled in the same way that traditional currencies are, in order to be more efficiently used for lawful reasons. But I think that's ridiculous because the nature of Bitcoin is to be decentralised; if Bitcoin is managed by a central entity, it would undoubtedly lose its decentralised nature.

[Tribalchief]

It depends on what Bitcoin is used for, if Bitcoin is used for money laundering, crime or drug abuse then Bitcoin will become illegal. It could also be the other way around because it's the same for crimes.
But I also believe that if Bitcoin is used for good it will become legal and accepted by society. I have seen fundraising for people who have experienced disasters by collecting funds using Bitcoin.

Yes, I think you're absolutely right. Bitcoin has been chastised for its potential for criminal conduct, but it has also been utilized for charitable purposes, such as those you highlighted. Some have even begun to propose that Bitcoin should be controlled in the same way that traditional currencies are, in order to be more efficiently used for lawful reasons. But I think that's ridiculous because the nature of Bitcoin is to be decentralised; if Bitcoin is managed by a central entity, it would undoubtedly lose its decentralised nature.

In addition, if Bitcoin eventually loses its decentralization purpose, then there is a higher tendency that those who set the rules might surely abuse it for their personal reasons, just as they've manipulated traditional currencies. We are not disputing the fact that Bitcoin is used for fraudulent activities, nor are we ignoring how crypto theft keeps increasing. We just can't see Bitcoin in the hands of a centralized entity because we can't afford to lose our financial independence.

I think we are all looking forward to a future where Bitcoin becomes a traditional way of making payments and is generally accepted in every place that offers goods and services.

[Metha Wulandarin]

It depends on what Bitcoin is used for, if Bitcoin is used for money laundering, crime or drug abuse then Bitcoin will become illegal. It could also be the other way around because it's the same for crimes.
But I also believe that if Bitcoin is used for good it will become legal and accepted by society. I have seen fundraising for people who have experienced disasters by collecting funds using Bitcoin.

Almost all types of crimes related to money can be related to Bitcoin in terms of money laundering or in terms of embezzlement of money because by using Bitcoin, especially Bitcoin can generate many addresses from one wallet or pharse and its decentralized nature, it is increasingly difficult to track.

[Celsius]

It depends on what Bitcoin is used for, if Bitcoin is used for money laundering, crime or drug abuse then Bitcoin will become illegal. It could also be the other way around because it's the same for crimes.
But I also believe that if Bitcoin is used for good it will become legal and accepted by society. I have seen fundraising for people who have experienced disasters by collecting funds using Bitcoin.

The government does not agree to legalize Bitcoin considering the crimes you mentioned, moreover when the government of a country legalizes Bitcoin, it does not want to legalize considering how reasonable the relationship of Bitcoin is with the Central Bank of that country.
Moreover, Bitcoin will be one of the main reasons for increasing the crime trend of a country because all the crimes of the underworld are likely to be committed through Bitcoin.  Again, crimes like money laundering are committed through Bitcoin, which is why the government of a country does not agree to legalize Bitcoin for several reasons.

[Wiseman]

In fact, now you can use Bitcoin everywhere, but you won’t be able to buy something very expensive because states in many countries have come up with laws that prohibit buying anything that has documents on you (cars, houses, etc.) for cash payment for it, having previously had Bitcoin. I could go and change it for cash and buy anything, but now they ask you for a bank transfer and proof of the legitimacy of the money you earned, in short, I’m sure that no one cares about Bitcoin. they just need taxes from us.

We can use Bitcoin for investment in anywhere but it can't be a payment tool in anywhere. It is because each country may have their own regulation or laws. Some countries enable us to use Bitcoin for payment purposes. But there are still many countries that prohibit us to use it for payment purposes due to some reasons. In my country, it can't be used for payment purposes because we only have 1 payment tool (Rupiah). The solution: we convert our Bitcoin to our currency in the local exchanges. It is quite easy, there is no complicated requirements.

Regarding the taxes, we pay taxes every time we trade coins on local exchanges. The government directly get the taxes through the local exchanges.

This how we utilize Bitcoin in my country, it can be different in your country and in other countries.

I understand you, but when we trade, we pay about 0.05% of the transaction and the states want to receive about 20%++ from us, so they don’t like that someone uses cash or bitcoin, I think that this is the usual greed with which we They don’t allow us to do this and use Bitcoin in all countries where Bitcoin can be used, we still won’t be able to buy anything expensive with it, mainly paying at a restaurant.

[EthereumDev_]

I understand you, but when we trade, we pay about 0.05% of the transaction and the states want to receive about 20%++ from us, so they don’t like that someone uses cash or bitcoin, I think that this is the usual greed with which we They don’t allow us to do this and use Bitcoin in all countries where Bitcoin can be used, we still won’t be able to buy anything expensive with it, mainly paying at a restaurant.

Is the squeeze of 20% valid? This is really a very big value. With costs that large, I think many people don't want to make cash withdrawals because many will definitely consider further the very high tax costs required. The use of Bitcoin for each country has its own policies because not all sellers accept Bitcoin payments, including when you are at a restaurant, you have to exchange it for fiat currency or local currency first so that transactions run smoothly without problems.

[legend45]

I understand you, but when we trade, we pay about 0.05% of the transaction and the states want to receive about 20%++ from us, so they don’t like that someone uses cash or bitcoin, I think that this is the usual greed with which we They don’t allow us to do this and use Bitcoin in all countries where Bitcoin can be used, we still won’t be able to buy anything expensive with it, mainly paying at a restaurant.

Is the squeeze of 20% valid? This is really a very big value. With costs that large, I think many people don't want to make cash withdrawals because many will definitely consider further the very high tax costs required. The use of Bitcoin for each country has its own policies because not all sellers accept Bitcoin payments, including when you are at a restaurant, you have to exchange it for fiat currency or local currency first so that transactions run smoothly without problems.

It's true that 20% is too high, it's better if we exchange it for fiat money, aren't there many local exchanges now with cheaper fees?
We have to choose those that are more economical, because not all of our investments are always profitable

[Wiseman]

I understand you, but when we trade, we pay about 0.05% of the transaction and the states want to receive about 20%++ from us, so they don’t like that someone uses cash or bitcoin, I think that this is the usual greed with which we They don’t allow us to do this and use Bitcoin in all countries where Bitcoin can be used, we still won’t be able to buy anything expensive with it, mainly paying at a restaurant.

Is the squeeze of 20% valid? This is really a very big value. With costs that large, I think many people don't want to make cash withdrawals because many will definitely consider further the very high tax costs required. The use of Bitcoin for each country has its own policies because not all sellers accept Bitcoin payments, including when you are at a restaurant, you have to exchange it for fiat currency or local currency first so that transactions run smoothly without problems.

Yes, this is a problem and therefore cryptocurrencies will not be able to develop as much, or as quickly as they should, we still use exchangers and legalize money as needed, and naturally everyone who knows and uses cryptocurrency understands what taxes are and does not want to pay them.

[TopT3ns]

Yes, this is a problem and therefore cryptocurrencies will not be able to develop as much, or as quickly as they should, we still use exchangers and legalize money as needed, and naturally everyone who knows and uses cryptocurrency understands what taxes are and does not want to pay them.

That's right, Cryptocurrency is very difficult to use as payment in various places like what you are experiencing. Do you see the price of USDT which has a stable movement, it looks like there is potential to be used on all platforms throughout the world, USDT circulation is also very large so in my opinion USDT should could be an alternative payment using cryptocurrency technology.

[dekafee79]

Yes, this is a problem and therefore cryptocurrencies will not be able to develop as much, or as quickly as they should, we still use exchangers and legalize money as needed, and naturally everyone who knows and uses cryptocurrency understands what taxes are and does not want to pay them.

That's right, Cryptocurrency is very difficult to use as payment in various places like what you are experiencing. Do you see the price of USDT which has a stable movement, it looks like there is potential to be used on all platforms throughout the world, USDT circulation is also very large so in my opinion USDT should could be an alternative payment using cryptocurrency technology.

If a stable coin like USDT is used as a payment method, it is suitable because its value is more stable than Bitcoin. but let's see in the future if bitcoin can be used as a payment method it will have a good effect on the price of bitcoin. Even though the possibility of this happening requires legality and a long process, even though Bitcoin is already popular.

[NikeFit_7777]

Yesterday was the 5th unsuccessful attempt to break through the 71K level and go higher. Even a strong squeeze did not contribute to it. Anyway, making a new all-time high (ATH) will not be easy because of strong bearish pressure at 71-74K levels.

P.S. I think everyone can see today's price. As always, the big players not only cheat, but also try to manipulate the crowd of hamsters.

[Aanuoluwatofunmi]

Bitcoin is legal for use, its an acceptable digital means of making payments, though not everyone has key into adopting this, while so many were already fast ahead in adoption and taking the opportunity with it, we can use it as a store of value, an asset of investment and so many other things were we see its being necessary to make its uses applicable such as making payments, exchanges for other currencies and lots more.

[Alston Liu]

Just saw the news yesterday, I am not sure whether it is true. The UK government arrested a group of criminals who scammed lots of old people by selling them medicines that claimed to be magical. The point is that this group of criminals have around 61k amount of Bitcoins and if the Chinese government doesn't claim the Bitcoins (Bitcoin is not allowed in China)and receives these criminals from the UK government, the UK government probably take it.