Is Bitcoin legal?

[therozaq]

The legality of using BTC depends on those who are familiar with Bitcoin transaction methods and will accept Bitcoin as a legal digital currency. However, for those who don't understand and are afraid of the risk of unstable Bitcoin price movements, of course they won't say Bitcoin is not valid for use as payment.

Yes, if they don't understand that Bitcoin can be used as a payment method, they will doubt it, including some governments in several countries. This is normal because they still consider the good and bad if allowed.

[yohananaomi]

The legality of using BTC depends on those who are familiar with Bitcoin transaction methods and will accept Bitcoin as a legal digital currency. However, for those who don't understand and are afraid of the risk of unstable Bitcoin price movements, of course they won't say Bitcoin is not valid for use as payment.

Yes, if they don't understand that Bitcoin can be used as a payment method, they will doubt it, including some governments in several countries. This is normal because they still consider the good and bad if allowed.

With advances in renewable technology, we can be sure that many people understand about bitcoin, but why don't some people want to use it as a legal payment method!! It all just depends on each country, because the country must have regulations first before it will accept bitcoin as a legal or recognized means of payment.

Bitcoin is not able or can be controlled, because the movement is based on the trade that occurs, so many countries cannot accept it. But currently, many have recognized it as a legal means of payment or have acknowledged its existence, but cannot be used for legal payments All because they already have regulations to prevent unwanted abuse from occurring.

[FOKA33]

Bitcoin is a computer-based math problem.

So, yes, since math is the basis for EVERY law in the natural universe; I’m going to have to say Bitcoin is LEGAL.

To elaborate a bit more; Bitcoin is a CURRENCY, like the US dollar. As such; still legal.

To elaborate further; Bitcoin is DECENTRALIZED; meaning that, when I accumulate, save and spend my own Bitcoins, I didn’t ask the government’s permission to do any of that; I don’t have to because there isn’t a government on the planet who has any more influence over legit bitcoin mining pool than I do. Therefore; still legal.

And, one final point, if I start Rev’s Video Arcade online and create a special Token that allows you to play a game on my site when you redeem it; and I charge you $1 to buy one of those Tokens; I have essentially created my own currency. No one is forcing you to buy it; no one is forcing me to accept it; it is what it is; a choice for us both. The fact that we both choose to use it makes it viable. And, to my knowledge, there is nothing illegal about that setup. It is actually basic contract law throughout most of the world. In a contract; both parties receive something of value. In this scenario; you give me $1, I give you a Token; which you use to play the game. You got to play (your takeaway/benefit) and I got $1 (my takeaway/benefit). Neither of us was harmed and we both got something we wanted; contract honored… Same goes for Bitcoin and/or any other crypto… It’s personal contracts being described as currency; all LEGAL.

So, let’s review…

Math problems are legal.
Currency is legal.
Decentralization removes government influence and nullifies any question of legality because that’s what a free economy means.
Contract law says that if we both got something of value and no one was harmed then a transaction is LEGAL. So, again, as a non-attorney who is NOT offering legal advice, and, as a guy who uses Bitcoin on a daily basis; YES, Bitcoin is legal!!!

Bitcoin isn't consider as legal tender in most countries, though it's isn't recognized as a form of currency.

[yohananaomi]

Bitcoin isn't consider as legal tender in most countries, though it's isn't recognized as a form of currency.

It seems that what you say could be true, because to be considered a legal means of payment, the state must prepare needs that can be used as a benchmark and that the public can be willing to accept, while acceptance must use tools that are clearly not easy to prepare.
What is more likely to be done is, of course, to acknowledge it and be able to use it, but after exchanging it for the local country's currency, of course, that is the easiest thing to do, or prepare an ATM..

[IvugeoEvolutionCoin]

Bitcoin isn't consider as legal tender in most countries, though it's isn't recognized as a form of currency.

So far, several countries still accept Bitcoin as a legal means of payment, such as El Salvador and the Central African Republic, while other countries have good regulations regarding the use of Bitcoin. Meanwhile, Bitcoin is of course recognized as a substitute for digital currency that can be used to make it easier to carry out electronic transactions and the currency is not always in physical form.

[therozaq]

Bitcoin isn't consider as legal tender in most countries, though it's isn't recognized as a form of currency.

So far, several countries still accept Bitcoin as a legal means of payment, such as El Salvador and the Central African Republic, while other countries have good regulations regarding the use of Bitcoin. Meanwhile, Bitcoin is of course recognized as a substitute for digital currency that can be used to make it easier to carry out electronic transactions and the currency is not always in physical form.

Bitcoin may only be used for transactions in certain countries, and may only be used as a payment method in Elsavador and the Central African Republic. Actually, people always ask about the legality of bitcoin, is it mandatory? Let time tell, because the government has allowed it as an investment tool, I think this is good.

[EthereumDev_]

Bitcoin may only be used for transactions in certain countries, and may only be used as a payment method in Elsavador and the Central African Republic. Actually, people always ask about the legality of bitcoin, is it mandatory? Let time tell, because the government has allowed it as an investment tool, I think this is good.

According to the white paper published by Satoshi Nakamoto, Bitcoin should not need to obtain legality for its use because Bitcoin was created as a digital currency that cannot be controlled by anyone, including the government, but until now with the aim of providing security for the people so that they are not affected by the negative impacts of Bitcoin then the government provides regulations regarding the use of Bitcoin.

[debra]

Yes, if they don't understand that Bitcoin can be used as a payment method, they will doubt it, including some governments in several countries. This is normal because they still consider the good and bad if allowed.

Do you mean the government doesn't understand the Bitcoin for payment purpose?
I think the government knows well, but they don't want to use it for payment tools because of many fundamental factors. One of them is about the volatility of Bitcoin value. The government doesn't want to take a risk of the volatility. It is only good for the investment, it is not a good thing for payment purpose. For the payment tool, it is better to have a stable price.

[bitterguy28]

For me BTC is legal, because most countries accept it and declared it as legal recently.

using the word MOST COUNTRIES is overstatement mate.

can you name and number those countries that have had accept Bitcoin as legal tender? because if you can name at least 5 of them then i may support your claim here?

And most legal foreign exchange companies also deal with BTC, if it was illegal they won't use it.

would you please stop using that term MOST COUNTRIES because you are talking nonsense in those part.

BTC is one of the best crypto currencies in the world now, and mostly people invest in BTC for a living.
Most successful entrepreneurs and big business men also save their assets in BTC in our society today.

It is not ONE OF THE BEST because Bitcoin IS THE BEST cryptocurrency ever created and up to now that is proven.

[doc]

Bitcoin may only be used for transactions in certain countries, and may only be used as a payment method in Elsavador and the Central African Republic. Actually, people always ask about the legality of bitcoin, is it mandatory? Let time tell, because the government has allowed it as an investment tool, I think this is good.

According to the white paper published by Satoshi Nakamoto, Bitcoin should not need to obtain legality for its use because Bitcoin was created as a digital currency that cannot be controlled by anyone, including the government, but until now with the aim of providing security for the people so that they are not affected by the negative impacts of Bitcoin then the government provides regulations regarding the use of Bitcoin.

Actually, according to the regulations issued by the government, we are also subject to tax. So the relationship is mutually beneficial, we as investors feel safe and the government also gets tax revenue.

[0t3p0t]

Bitcoin may only be used for transactions in certain countries, and may only be used as a payment method in Elsavador and the Central African Republic. Actually, people always ask about the legality of bitcoin, is it mandatory? Let time tell, because the government has allowed it as an investment tool, I think this is good.

According to the white paper published by Satoshi Nakamoto, Bitcoin should not need to obtain legality for its use because Bitcoin was created as a digital currency that cannot be controlled by anyone, including the government, but until now with the aim of providing security for the people so that they are not affected by the negative impacts of Bitcoin then the government provides regulations regarding the use of Bitcoin.

Actually, according to the regulations issued by the government, we are also subject to tax. So the relationship is mutually beneficial, we as investors feel safe and the government also gets tax revenue.

That is if we comply with our local taxation but I was also wondering if local exchanges already included taxes when we have withdrawal transactions I am persoanlly not aware of this to be honest. But just recently I've heard on the news here in my country about freelancers, online sellers and maybe crypto related generating income  that those sectors are not exempted on this and should be taxed. I am not against taxation but instead I can see this as a good sign that legality of Bitcoin and other cryptocurrency still remain even though government is on it's campaign against unregistered foreign crypto exchanges. I can also see increasing adoption despite the banning maybe because of Bitcoin ETF approval.

I just don't like seeing taxes being used or falls in the hands of corrupt politicians. 

[legend45]

I just don't like seeing taxes being used or falls in the hands of corrupt politicians.

many citizens do not like this to happen, their taxes fall into the hands of corrupt politicians. Because it's very troublesome. We as citizens obey taxes, and they steal taxes from us.

[Learn Bitcoin]

many citizens do not like this to happen, their taxes fall into the hands of corrupt politicians. Because it's very troublesome. We as citizens obey taxes, and they steal taxes from us.

Maybe those taxes are used properly in Western countries. But, if you talk about 3rd world countries, people hate paying taxes because of the corruption. If I pay $100 in taxes, probably 50% will be used to develop the country's structure to which I, as a general person, won't have access. The most important thing is, that most the politician becomes a millionaire after one period of their power.

They don't have to do any business to become a millionaire. They have the ultimate power to do anything. Suppose the government give them a budget of $100K for a road. They will spend a max of $30K, and the rest 70K is for themself. That's what happens in the 3rd world country.

[legend45]

many citizens do not like this to happen, their taxes fall into the hands of corrupt politicians. Because it's very troublesome. We as citizens obey taxes, and they steal taxes from us.

Maybe those taxes are used properly in Western countries. But, if you talk about 3rd world countries, people hate paying taxes because of the corruption. If I pay $100 in taxes, probably 50% will be used to develop the country's structure to which I, as a general person, won't have access. The most important thing is, that most the politician becomes a millionaire after one period of their power.

They don't have to do any business to become a millionaire. They have the ultimate power to do anything. Suppose the government give them a budget of $100K for a road. They will spend a max of $30K, and the rest 70K is for themself. That's what happens in the 3rd world country.

That is the perception that occurs in 3rd world countries. They will compete to commit corruption because being politicians and being state administrators is their way of taking people's money/taxes

[Marlboro]

What is the importance of legal Bitcoin?
Should Bitcoin be legalized?
So what's in it for us bitcoin holders?
Didn't Sathosi create Bitcoin for anonymity and doesn't need legality?