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Hey there, Let's assume that I did some work online and got paid $100 BTC . The guy sent me money directly to my BTC wallet. However, no tax charges were cut in-between the transaction unlike bank transfer. So will my BTC would be considered as illegal? Sorry for the noob question.
This Smash Bros Youtuber has been hacked by what I think is one of those illegal bitcoin scammers, this is messed up and YouTube needs to fix this. These people are destroying his years of work. (I'll leave a link to a tweet he made about the situation)
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.
What limits me buying bitcoin legally then selling it at a markup to people without kyc. Is it downright illegal? (USA).
I am verified on several platforms to purchase as much btc as I want, as I have supplied proof of my identity. Many people want to buy anonymously and will pay a premium for that. Can I legally sell them my bitcoin anonymously? I'm guessing, no, being the exchanges can't. If this question is as dumb as I think it might be I am sure it will be quickly weeded out democratically 😄
However, some countries have declared Bitcoin as illegal. That’s why mining is also prohibited and considered illegal there. Anyways, this is a subjective matter and varies from one jurisdiction to another. But if one is mining Bitcoin with his/her resources in a legit way, then it is not illegal, at least in many countries. Bitcoin and cryptocurrencies have struggled to break away from their illegal and illicit connotations, with mixed success.. Bitcoin, which was being used on dark web markets to buy everything from ... Bitcoin is money, and money has always been used both for legal and illegal purposes. Cash, credit cards and current banking systems widely surpass Bitcoin in terms of their use to finance crime. Bitcoin can bring significant innovation in payment systems and the benefits of such innovation are often considered to be far beyond their potential ... Countries where Bitcoin is neither legal nor illegal. Some countries still haven’t made their minds what to do with Bitcoin. In such cases, the usage of BTC is legal in the sense that you can own it, but there are no clear rules or legal protection ... The short answer: In most cases, bitcoin mining is perfectly legal. In a few countries, however, bitcoin mining, as well as the possession and use of bitcoin is illegal.
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