03-26 09:57 - 'I know of no country where bitcoin is illegal. / There are generally regulations or laws regulating bitcoin. Bitcoins are frequently classified as property rather than currency which can limit where it can be used. / Some countr...' by /u/ismith23 removed from /r/Bitcoin within 1-6min
''' I know of no country where bitcoin is illegal. There are generally regulations or laws regulating bitcoin. Bitcoins are frequently classified as property rather than currency which can limit where it can be used. Some countries, for example North Korea, limit Internet access but as far as I know have not made bitcoin illegal. Using bitcoin to bypass vat, tax, money laundering or similar laws as well as in illegal activities is obviously not legal anywhere. ''' Context Link Go1dfish undelete link unreddit undelete link Author: ismith23
I tried to find a way to buy bitcoin in Canada using a Visa/MC Gift card, apparently that is "impossible". So I'm willing to buy using e-transfer, but I'm afraid the sites I buy from can connect it to me. Is that so? And no I'm not buying anything illegal (see comment for details)...
Usually I use a gift card credit card for these things but it's more expensive....so I'm going to be completely honest with what I like to buy (you can laugh all you want). 1) First is Chaturbate Tokens. You get the most "bang for your buck" by using bitcoin and that's the first thing I want to buy. It's my vice, I know I'm a loser but whatever, I enjoy it. 2) Phone verification. Sometimes I will send someone $2.50 or something (either on reddit or elsewhere) on paypal to verify a phone number account for something like discord. I don't want my real number on discord or other services other than the big 5 (Google/Microsoft/eBay/Amazon/Facebook). I don't trust the "smaller" guys and a lot of these random services want phone numbers, so I use services on reddit to do that. So my questions are; 1) I can definitely not buy using a Visa or MC gift card, right? 2) Assuming I buy using e-transfer, what is the best site? And will they require government ID or can I just send from my real bank account? For #2, I don't really care about them knowing my name/address, but I don't want a random bitcoin site having government documents with them. If it was RBC or CIBC I wouldn't care, but these random exchanges I dont trust yet.
Countries are pushing towards going cashless, that means every street drug dealer will end up using bitcoin. Illegal drug market is valued at $360 billion. Bitcoin's market cap would need to double to handle this.
Think about it, digital dollar is coming, other countries are pushing to get rid of cash too. Some of it is to push to get tax money, other reason is to push negative interest rates, among other reasons. There way more black market transactions that just drugs, but drugs alone is valued at $360 billlion. Bitcoin would need to double to handle that. Meaning price will go up at minimum +100% I know this isn't the best reason for bitcoin to go up, but the underlying economics of it still hold true.
05-25 08:24 - 'The US Dollar has a captive audience as in taxes in the world's largest economy and commodities such as oil are paid for in US Dollars, whereas Bitcoin can be used to avoid inspection when paying for illegal activities, avoid...' by /u/_kessete removed from /r/Bitcoin within 11-21min
''' The US Dollar has a captive audience as in taxes in the world's largest economy and commodities such as oil are paid for in US Dollars, whereas Bitcoin can be used to avoid inspection when paying for illegal activities, avoid fees when transferring money internationally, and to avoid sanctions. With Bitcoin you can buy drugs on dark net markets anonymously and across borders, transfer money to countries sanctioned by the US through blocking the use of SWIFT (Venezuela, Russia, Iran) and avoid the effects on fiat currencies caused by Fed policy (such as QE and potentially negative interest rates). While Gold can be used as alternative store of value, it isn't as easy to transfer over large distances. And as seen in the UK, countries can deny transferring gold for political reasons. [link]1 I personally believe that if the US continues to sanction countries by using SWIFT in blocking crossborder financial payments, cryptocurrencies and foreign CBDCs (digital yuan) will grow in influence as the US's international financial power diminishes. Especially if its traditional allies (EU, UK) do not agree with the sanctions that are applied to foreign countries. The use of cryptocurrencies could accelerate at an even greater rate if there is an economic and/or cold war between the US and China. [link]2 ''' Context Link Go1dfish undelete link unreddit undelete link Author: _kessete 1: **w.b*oomberg.c*m/news/*rt*cle*/*019-01-2**u-k*said-to*deny-**duro-s-***-t*-pull-1***b*llio*-of-g**d 2: *o*nt*le*raph.*om/ne*s/jp*morga*-cbdc**h*ea**ns-**ge*on*-of-us-dollar Unknown links are censored to prevent spreading illicit content.
Bitcoin should be viewed as other currencies by states, they should attempt to limit illegal uses but not at the detriment of the legal users. B itcoin users can also be subject to theft, scams, and frauds, which some argue is made easier because of Bitcoin’s structure and lack of regulation. The very nature of Bitcoin makes fraud prevention hard, one of the biggest factors being there is no ... In this study, we are primarily interested in quantifying the amount of illegal trade that uses bitcoin. We therefore remove transaction fees and block rewards from the sample to avoid distorting the transaction counts. This step removes 208.3 million transactions. We also remove currency conversion transactions (conversions between bitcoin and fiat currency or other cryptocurrencies), by ... In its early years, the perceived anonymity of Bitcoin led to many illegal uses. Drug traffickers were known to use it, with the best-known example being the Silk Road market. You agree to indemnify and hold harmless Bitcoin.com, its affiliates, subsidiaries, directors, managers, members, officers, and employees from any and all claims, demands, actions, damages, losses, costs or expenses, including without limitation, reasonable legal fees, arising out of or relating to your or any other person’s use of your credentials or User Account in connection with: (a) use ... Looking at the facts and stories shared above I can conclude – yes, Bitcoin is used for illegal activities. But then again so are all other payment options and assets. Money laundering is still a thing with all the other already established or “old” currencies. And cash might I remind you is totally anonymous. And yes I am sure a lot of criminal activities still go on with Bitcoin ...
Bitcoin is Not illegal in India and also Indian govt. haven't ban in the use of bitcoin , so friends don't be panic you can trade using bitcoin and also you can buy bitcoin if you want investment ... Today, we dive into, Bitcoin & Tether’s biggest use case. Laundering money for the Mexican drug cartels, through Chinese underground banking systems! Chainalysis exposed how Huobi & Binance are ... Despite links to black markets like the Silk Road, Bitcoin isn't itself illegal - but financial regulators say that virtual currency operators must play by the rules. So what are those rules, and ... Look Through My Books!: http://books.themoneygps.com Support My Work: https://www.patreon.com/themoneygps PayPal: https://goo.gl/L6VQg9 BitCoin: 1MbAUXsHa8XR... A short introduction to how Bitcoin Works. Want more? Check out my new in-depth course on the latest in Bitcoin, Blockchain, and a survey of the most excitin...