Is Bitcoin legal?

[armanda90]

In the meantime, if the legal status of Bitcoin in your country is still unclear, just think about whether your Bitcoin is being used for something legal or illegal. Because that will make you deal with the law.

In my country, Bitcoin is legal for trading, not for payment, and as far as I know, there are no products that support payment using Bitcoin, so I have nothing to fear as long as I don't show off what I have.
[/quote]Generally all countries around the world make bitcoin legal as trading or commodity assets but illegal using for payment currency transaction except with El Savador country.
The El Savador government have make bitcoin become legal not only for trading or investing assets but also allow as payment transaction and all sector public there have been accepted bitcoin since 2021.
In my country Indonesia, bitcoin or cryptocurrency transaction in local exchange have to pay taxes every trader including buy and sell coins but cryptocurrency still not legal for payment transaction.

[Metha Wulandarin]

But I've seen news on television that there are people who are arrested by the police for showing off their crypto income and this news is enough to provide new lessons and experiences for me that life privacy is very important, for me it's enough for me to know what I do and what I know.

In the meantime, if the legal status of Bitcoin in your country is still unclear, just think about whether your Bitcoin is being used for something legal or illegal. Because that will make you deal with the law.

In my country, Bitcoin is legal for trading, not for payment, and as far as I know, there are no products that support payment using Bitcoin, so I have nothing to fear as long as I don't show off what I have.

If it's just for investment, I think it's safe to have Bitcoin in our wallet. Maybe in some countries it is still prohibited, it is possible that the government of that country still has concerns about legalizing bitcoin. but remember, time will tell. They will legalize bitcoin in the future.

It could be because they are afraid of losing competitiveness with Bitcoin after Ethereum was accepted by the ETF, stock users will start to look at Ethereum and Bitcoin. If this happens, the stock market will definitely start to get nervous, afraid of investors moving to crypto.
yes, you are right, time will tell. In the past, Bitcoin was strictly prohibited and now it is allowed. In the past, Bitcoin was the object of ridicule by many people and now Bitcoin has proven that it can beat the stock market in a short period of time.

[Gurujebs]

It could be because they are afraid of losing competitiveness with Bitcoin after Ethereum was accepted by the ETF, stock users will start to look at Ethereum and Bitcoin. If this happens, the stock market will definitely start to get nervous, afraid of investors moving to crypto.
yes, you are right, time will tell. In the past, Bitcoin was strictly prohibited and now it is allowed. In the past, Bitcoin was the object of ridicule by many people and now Bitcoin has proven that it can beat the stock market in a short period of time.

If the government is afraid of competitiveness of cryptocurrency and stock, they wouldn't have allowed them to accept Bitcoin and Ethereum ETFs. The thing is that investors are asking for more to have Bitcoin and other crypto service but doing so will make it complicated in the future and that's why the security exchange commission giving the permission for investors to trade.

I don't want to generalized it but the Volatility of an assets determines how stable an economy is and because Bitcoin isn't too stable, it can't be a replacement for stocks as it's decentralized, it can be manipulated by anyone which can sabotage the economy. Bitcoin has its own advantage and disadvantages and where applicable and same with stock, the two of them are very important for economy to function if use properly.

[Metha Wulandarin]

It could be because they are afraid of losing competitiveness with Bitcoin after Ethereum was accepted by the ETF, stock users will start to look at Ethereum and Bitcoin. If this happens, the stock market will definitely start to get nervous, afraid of investors moving to crypto.
yes, you are right, time will tell. In the past, Bitcoin was strictly prohibited and now it is allowed. In the past, Bitcoin was the object of ridicule by many people and now Bitcoin has proven that it can beat the stock market in a short period of time.

If the government is afraid of competitiveness of cryptocurrency and stock, they wouldn't have allowed them to accept Bitcoin and Ethereum ETFs. The thing is that investors are asking for more to have Bitcoin and other crypto service but doing so will make it complicated in the future and that's why the security exchange commission giving the permission for investors to trade.

I don't want to generalized it but the Volatility of an assets determines how stable an economy is and because Bitcoin isn't too stable, it can't be a replacement for stocks as it's decentralized, it can be manipulated by anyone which can sabotage the economy. Bitcoin has its own advantage and disadvantages and where applicable and same with stock, the two of them are very important for economy to function if use properly.

Maybe I should learn more about ETFs and the stock market because so far I have never involved myself in the stock market or have never tried it.
but if I'm not mistaken, the purpose of buying shares is to make a profit, isn't it, and it's the same when we buy Bitcoin, the purpose is to make a profit, I mean this is buying shares in small quantities, not buying shares and physically controlling the shares.

[Faisal2202]

To be honest, I haven't seen or read any article that talks about the case as you said or maybe I'm too busy that I don't have time to pay attention to the news about crypto.
But I've seen news on television that there are people who are arrested by the police for showing off their crypto income and this news is enough to provide new lessons and experiences for me that life privacy is very important, for me it's enough for me to know what I do and what I know.
Home wherever we are still a person who seems to know nothing, let them talk about what they know as if we don't understand what they are talking about and this way I always apply when I gather with people who understand crypto.
don't show off too much what we have, this is my mindset.

The story was shared by a reputed Nigerian member on bitcointalk a long time ago, I am unable to find that thread now. I searched a lot even on Ninjastic but was only able to find the last post in which I talked about this case. I will look more if I come to find the story shared by that member. It was not published on TV or on any other news channel.

Speaking of privacy, that matters a lot, while finding the post of that member I found out that, a crypto investor got kidnapped just because he shared his investments and profit online, and when he was on vacation he got kidnapped (source). I am also of the mindset that, don't tell anyone that you are investing in BTC, only to those who are so close and know something about this field.

Even if you have to talk about cryptocurrency don't share how much you invested and how much you made. Because it will only make things worse and from the physiological point of view it will degrage your expectations as well.

[MUGNIA]

It could be because they are afraid of losing competitiveness with Bitcoin after Ethereum was accepted by the ETF, stock users will start to look at Ethereum and Bitcoin. If this happens, the stock market will definitely start to get nervous, afraid of investors moving to crypto.
yes, you are right, time will tell. In the past, Bitcoin was strictly prohibited and now it is allowed. In the past, Bitcoin was the object of ridicule by many people and now Bitcoin has proven that it can beat the stock market in a short period of time.

If the government is afraid of competitiveness of cryptocurrency and stock, they wouldn't have allowed them to accept Bitcoin and Ethereum ETFs. The thing is that investors are asking for more to have Bitcoin and other crypto service but doing so will make it complicated in the future and that's why the security exchange commission giving the permission for investors to trade.

I don't want to generalized it but the Volatility of an assets determines how stable an economy is and because Bitcoin isn't too stable, it can't be a replacement for stocks as it's decentralized, it can be manipulated by anyone which can sabotage the economy. Bitcoin has its own advantage and disadvantages and where applicable and same with stock, the two of them are very important for economy to function if use properly.

Maybe I should learn more about ETFs and the stock market because so far I have never involved myself in the stock market or have never tried it.
but if I'm not mistaken, the purpose of buying shares is to make a profit, isn't it, and it's the same when we buy Bitcoin, the purpose is to make a profit, I mean this is buying shares in small quantities, not buying shares and physically controlling the shares.

Certainly to make a profit in my opinion, but in a different way, indeed BTC and Eth are digital investments, the same as shares, they both have no physical value.
but everyone has different comfort in investing, everything is good and profitable if you invest in the right place

[Pastaral]

I think your question is correct it totally depends on the government of your country. Every country has its own laws and there are many countries which have not legalized this Bitcoin yet.  On the other hand, there are many countries that have legalized Bitcoin.  But due to this validity, the popularity of Bitcoin is increasing day by day.  I think almost people all over the world know about this Bitcoin.

[armanda90]

I think your question is correct it totally depends on the government of your country. Every country has its own laws and there are many countries which have not legalized this Bitcoin yet.  On the other hand, there are many countries that have legalized Bitcoin.  But due to this validity, the popularity of Bitcoin is increasing day by day.  I think almost people all over the world know about this Bitcoin.

Right, about bitcoin legal or not as payment currency transaction depend on every government regulation. Some countries have make regulation with bitcoin only legal for commodity assets such as my country Indonesia but not allow for payment currency transaction.
I think only El Savador have make bitcoin not only legal for commodity assets but also available using for payment transaction and there are have supported all sector by using bitcoin as payment way. After El Savador make bitcoin become legal transaction since 2021, not any country follow for legalizing bitcoin and seems still aware when making bitcoin as new competitor for payment transaction.

[Metha Wulandarin]

It could be because they are afraid of losing competitiveness with Bitcoin after Ethereum was accepted by the ETF, stock users will start to look at Ethereum and Bitcoin. If this happens, the stock market will definitely start to get nervous, afraid of investors moving to crypto.
yes, you are right, time will tell. In the past, Bitcoin was strictly prohibited and now it is allowed. In the past, Bitcoin was the object of ridicule by many people and now Bitcoin has proven that it can beat the stock market in a short period of time.

If the government is afraid of competitiveness of cryptocurrency and stock, they wouldn't have allowed them to accept Bitcoin and Ethereum ETFs. The thing is that investors are asking for more to have Bitcoin and other crypto service but doing so will make it complicated in the future and that's why the security exchange commission giving the permission for investors to trade.

I don't want to generalized it but the Volatility of an assets determines how stable an economy is and because Bitcoin isn't too stable, it can't be a replacement for stocks as it's decentralized, it can be manipulated by anyone which can sabotage the economy. Bitcoin has its own advantage and disadvantages and where applicable and same with stock, the two of them are very important for economy to function if use properly.

Maybe I should learn more about ETFs and the stock market because so far I have never involved myself in the stock market or have never tried it.
but if I'm not mistaken, the purpose of buying shares is to make a profit, isn't it, and it's the same when we buy Bitcoin, the purpose is to make a profit, I mean this is buying shares in small quantities, not buying shares and physically controlling the shares.

Certainly to make a profit in my opinion, but in a different way, indeed BTC and Eth are digital investments, the same as shares, they both have no physical value.
but everyone has different comfort in investing, everything is good and profitable if you invest in the right place

This means that everyone's goal is almost the same, namely to make a big profit but does anyone here have the aim of giving their Bitcoin to their children or grandchildren? Or just for yourself
For me personally, I really want to give inheritance in the form of cryptocurrency such as Bitcoin, Ethereum or others but every time I start there is always a need that requires selling it

[doc]

This means that everyone's goal is almost the same, namely to make a big profit but does anyone here have the aim of giving their Bitcoin to their children or grandchildren? Or just for yourself
For me personally, I really want to give inheritance in the form of cryptocurrency such as Bitcoin, Ethereum or others but every time I start there is always a need that requires selling it

I've thought about giving my crypto assets to my descendants, but maybe I need it more at the moment.  Maybe I will try to save in the form of crypto in the next bearish season because it will be held for a long period of time. The coins I choose seem to be bitcoin and ethereum.  It's a good idea to pass on our crypto assets to our future descendants, maybe in 10 or 20 years bitcoin and ethereum will be very expensive.

[LUCKMCFLY]

Be grateful if you are in a country that is friendly to bitcoin, because some of our friends here are in several countries that cannot yet accept the presence of bitcoin and altcoins. My country also legalizes investing in bitcoin and of course we are taxed when making transactions on local exchanges, but this is good for us as citizens who are allowed to invest in bitcoin.

Even so, if in my country they were to ban Bitcoin, I Wouldn't take it as something I had to do, I am very irreverent by nature, because generally the restrictions are always for the people who are among the people, but not for the politicians, the politicians have Access to everything Except the people, and I think that the bans and all the punishments are what the big governments do just so that the people of those countries survive, so that doesn't make sense to me, because if the government as such of the country truly suffered, then it would be different , but no, they don't Suffer , they have everything open.

[JoyMarsha]

But I've seen news on television that there are people who are arrested by the police for showing off their crypto income and this news is enough to provide new lessons and experiences for me that life privacy is very important, for me it's enough for me to know what I do and what I know.

As far as you are a crypto investor, your privacy should be your main priority and should matter a lot even when your country accepts crypto or not.

It is very unwise for one to get their bitcoin holdings revealed to the world because you don't know who's your friend or enemy. It is best to have your bitcoin holdings private, not to talk about them or get them revealed to anyone so that you won't jam your downfall by being attacked by armed robbers who would take away your bitcoin by force

[joniboini]

This means that everyone's goal is almost the same, namely to make a big profit but does anyone here have the aim of giving their Bitcoin to their children or grandchildren? Or just for yourself
For me personally, I really want to give inheritance in the form of cryptocurrency such as Bitcoin, Ethereum or others but every time I start there is always a need that requires selling it

Are you planning to give your Bitcoin through an intermediary, hence why you're talking about whether doing that is legal or not? I don't recall any specific law regarding crypto inheritance in our country, so your crypto will be treated the same as fiat probably. If there are taxes then the rate will be applied accordingly. I don't think they will use crypto trading tax for that since it will be so low, but who knows?

If that's not the case and you want to transfer crypto on your own, try to check out a time-locked transaction. I remember reading many threads on Bitcointalk or social media about it. It's basically an option to make crypto inheritance without exposing your seeds to another person directly. I don't think you'll break any law if you do that either, and will be safer compared to trusting a company who regularly suffers data breach to secure your keys.

[dekafee79]

But I've seen news on television that there are people who are arrested by the police for showing off their crypto income and this news is enough to provide new lessons and experiences for me that life privacy is very important, for me it's enough for me to know what I do and what I know.

As far as you are a crypto investor, your privacy should be your main priority and should matter a lot even when your country accepts crypto or not.

It is very unwise for one to get their bitcoin holdings revealed to the world because you don't know who's your friend or enemy. It is best to have your bitcoin holdings private, not to talk about them or get them revealed to anyone so that you won't jam your downfall by being attacked by armed robbers who would take away your bitcoin by force

Maintaining privacy is important, isn't crypto technology semi-anonymous, so people don't know what our assets are stored in the wallet? It is completely private and safe. We don't need to tell about our income and assets in crypto, because that will provoke thieves or robbers to chase our assets.

[NikeFit_7777]

Mt.Gox will start paying out to victims in July According to a reliable source, Mt.Gox has more than 650,000 BTC coins in reserve since the fake hack in 2014. The stolen funds will be gradually returned to their owners starting from July 2024.

P.S. Are there any people here who lost their funds a long time ago. This is the moment when it was not in vain to skim for 10 years.