IS BITCOIN ILLEGAL AND WHERE: GETTING THAT DARK-WEB BREAD

2019-10-18
By: venynx
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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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