IS BITCOIN ILLEGAL AND WHERE: GETTING THAT DARK-WEB BREAD
It is without a doubt that crypto-currency is the future. Regardless
if it will be years, decades, or centuries, crypto is a much better way
to establish value. While asking yourself is BitCoin illegal might be a
prime concern for miners and traders today, this will become a regular
currency at some point. Qwer432
Crypto, including Bitcoin (BTC), has a lot of properties money
should have intrinsic to its system. It represents the energy used to
create a mathematical process. The increase in processor speed and
efficiency will account for inflation, and the rise in demand for energy
will counter this balance.
But, a decentralized and unsupervised trade on a global scale will
indeed upset a lot of very powerful and very well-armed people. So far,
the fact the government has a lot (and I mean a lot) of guns did
establish its supremacy. This is why we should expect some governments
to try and ban or otherwise discourage this sort of currency.
Thankfully, the same global network that made crypto a reality can
also make trading it safe and anonymous. Using a trustworthy and
professional
VPN service can let
you do all of your transactions quickly and easily. Premium VPN
providers like Le VPN have servers in over 120 countries and will mask
your IP address from any busybodies in the government.
Advantages of a Cryptocurrency
Most futurists agree that the true advantages of crypto-currencies
like Bitcoin are yet to emerge. But, in the meantime, there are several
real-world benefits for using digital currency.
First of all, the way the currency is produced and spread is
decentralized and not regulated by any government. No authority can
revoke or freeze your funds, especially if they don’t even know they
belong to you.
The second benefit is the constant balance between the producers of
the currency, the so-called miners, and the market in general. There is
no possibility for some authority to just imagine bills into existence,
as they often do with fiat currency.
Finally, the transactions are completely secure. Unlike paper money
that can be counterfeited, fake crypto would become useless the moment
it connects to the network as the hashes wouldn’t fit. This makes it
impossible for someone to sell or buy with fake cryptocurrency.
Risks of Using Crypto
Out of the two main risks of using crypto, one is personal, and the other is broadly economic.
The personal risk stems from the anonymity and lack of authority. If
your private wallet key is stolen, all of your funds may be misused and
sent wherever. This would be akin to cash being stolen as if you can’t
point to the direct person that has just stolen your cash, all trace
will be lost afterward.
The economic risk is the impracticality of using current crypto as
financial derivatives. This means that no bank or sane person will ever
give you a loan using Bitcoin. While the contract itself is possible,
the market is still too young and too volatile for anyone to use this
type of exchange for their day to day business.
Why are Some Governments against Crypto?
Depending on the government and culture in question, the guys and
girls in charge might have additional problems with regular people using
crypto such as Bitcoin. But, in general, the arguments usually focus on
economic, security, and authority issues.
Before the internet, the guys with guns that we usually call the
military were quite effective in making the people do what they are
told. But, it would be really hard for the IRS to force you to pay
something when you are living in the town of Mezhdurechensk, Kemerovo
Oblast, Russia.
The fact that you can pay for goods and services across the world,
from an anonymous account, without leaving a lot of tracks means that
the government is unable to track your purchases.
Where to Trade Bitcoin?
If you want to know is Bitcoin illegal in your case, you will need
to know the laws of the country you are residing in. Having Bitcoin is
perfectly legal in most countries, but this doesn’t mean that you can
relax just yet.
Some countries have bans on trading any cryptocurrency or using it
as legal tender. Others might accept this form of payment entirely, but
force high taxes on all transactions that use crypto.
How you will be using crypto depends heavily on your end goal. If
you only want to try your hand in some simple transactions or to try
mining for crypto on your rigs, this may be done from virtually any
country. But, if you want to trade and exchange between Bitcoin and
other crypto and national fiat currencies, you will bump into some
issues.
Thankfully, by using an online
VPN
, you can switch between multiple countries and multiple servers.
This way you can create your own personal Dutch Sandwich with crypto
finances and leave very little for any government to track you.
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