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26 votes

I paid in bitcoin, now I'm owed a refund. Can I demand it in bitcoin too?

I am not a lawyer, but... The Coinage Act of 1965, Section 31 U.S.C. 5103, entitled "Legal tender," states: "United States coins and currency... are legal tender for all debts, public charges, taxes, ...
20 votes
Accepted

I paid in bitcoin, now I'm owed a refund. Can I demand it in bitcoin too?

I made a payment to a company for a product more than a year ago in bitcoin. The amount that I paid then was equivalent to $75. Now the company has failed to provide the product and they and I ...
17 votes

How can government "seize" bitcoins?

It is not necessarily true that no amount of force or authority can cause or prevent any transfer of Bitcoin. The protocol does not allow arbitrary seizures or blocking, but there are still human ...
  • 63.2k
12 votes
Accepted

Is Bitcoin a corporation?

No. The whole point of Bitcoin is that it is decentralized and there is no single corporation behind it.
12 votes

How can government "seize" bitcoins?

A lot of bitcoins reside in a trading platforms or online wallets. These bitcoins are (in the particular bitcoin sense) controlled by the platform. The government (provided the platform/wallet is in a ...
  • 291
10 votes

I paid in bitcoin, now I'm owed a refund. Can I demand it in bitcoin too?

Given that bitcoin has increased in value, one of us has to profit from this. If you hold the bitcoins while the value goes up, you are the one entitled to profit from it, because you also risk ...
  • 4,387
10 votes
Accepted

How come a company partners with Bitcoin?

I was checking out the Bitcoin website There is no such thing. There are various communities and privately-run sites, but they are all distinct, and none are authoritative. I believe that Bitcoin ...
8 votes

Selling copies of blockchain database on disc

Is this legal under the terms of the GPL? Bitcoin Core is distributed under the MIT license which explicitly allows this. The content would essentially be the Bitcoin data directory (minus the ...
  • 15.2k
7 votes

I paid in bitcoin, now I'm owed a refund. Can I demand it in bitcoin too?

Was there a sales contract? https://en.bitcoin.it/wiki/How_to_accept_Bitcoin,_for_small_businesses#Contract points out the value of specifying the refund policy in such a contract. (Personally I'd ...
  • 71
7 votes

Why do people claim that governments cannot confiscate Bitcoins?

While it is true that Bitcoin can still be physically taken away from you, it is still much harder to do that than it is for a government to confiscate your fiat stored in a bank account (as most fiat ...
  • 63.2k
7 votes

How can government "seize" bitcoins?

Other answers have covered how/if this is possible in theory, but you may be interested in how it actually happened in the specific case you mentioned. The press release links to a PDF of the ...
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6 votes
Accepted

Selling copies of blockchain database on disc

It's legal Bitcoin Core is released under The MIT License. Accordingly, the Bitcoin repository informs: Permission is hereby granted, [...] including without limitation the rights to use, copy, ...
  • 65.3k
6 votes

If I were to generate an address and it happens to collide, legally speaking, would a transfer constitute theft?

IANAL. What you describe is the act of taking something that isn't yours in full knowledge that somebody else invested effort and money to accumulate it. Just as with your Swiss bank example: The ...
  • 65.3k
5 votes
Accepted

Can bitcoins be exchanged for nonlicensed "Professional" services?

Persons can dispense all sorts of professional services as long as they aren't for "business" or "pay" In some places, yes. In other places, no. Since you didn't specify your ...
  • 28.9k
5 votes
Accepted

How can a DAO seek enforcement of a contract?

The DAO's service provider would hire the person, not the DAO. The contract would be with the service provider, and the service provider could then sue the agent if the task wasn't completed as the ...
4 votes

I paid in bitcoin, now I'm owed a refund. Can I demand it in bitcoin too?

It doesn't matter what the currency you paid in is worth now compared to other currencies, I guess that's the problem of a volatile currency. For example: If from here in the UK I bought something in ...
  • 141
4 votes

I paid in bitcoin, now I'm owed a refund. Can I demand it in bitcoin too?

It all depends on the what was the base-currency of the item when it was sold. That is what should be refunded. If it is not clear what the base currency was, then the one approach would be to simply ...
4 votes

I paid in bitcoin, now I'm owed a refund. Can I demand it in bitcoin too?

If BTC is a currency then this is an easy question. I should be refunded what I paid, in the currency in which I paid it. Really? So if the Bitcoin system collapsed and Bitcoins had no value anymore, ...
4 votes
Accepted

Are Bitcoin / Cryptocurrency free & paid "Faucets" illegal in the USA?

The trade of cryptocurrencies for other cryptocurrencies is not regulated in the United States under FinCEN guidance or IRS guidance, as of August 12th, 2014 Cryptocurrencies are designated as ...
  • 1,580
4 votes

Can you inherit bitcoins without the private key?

Y can't spend the Bitcoins. You need the private key for an address to spend the Bitcoins from that address. There's no way around it.
  • 28.9k
4 votes
Accepted

Police raid home of bitcoin 'founder'

According to yesterday's article about this in The Guardian, the Australian Federal Police released the following statement about the raid, stating that the raid was not related to any involvement ...
  • 697
4 votes
Accepted

If Bitcoin is not controlled by the state, how come in some countries it is illegal?

A party can send a hexadecimal string to another party and nobody in the world can prove bitcoin or any form of money was sent. Governments can ban bitcoin usage but the bitcoin protocol is ...
  • 450
4 votes

Is buying bitcoin with paypal legal without laundering concerns?

While I’m not an attorney, the website you describe would be considered a “money transmitter business” (MTB) which, in the US, falls under the jurisdiction of The Dept. Of Treasury FinCEN (Finacial ...
4 votes

Accepting Bitcoin for Services Rendered with Legal Verbiage on Set Coin Price

If you want to go all in on cryptocurrency, you can make an agreement stating the payment method as BTC or ETH and then the amount. The value of these currencies may vary with time and hence no one ...
4 votes
Accepted

Does it make sense to design a mutable blockchain?

I agree more context is needed to provide a more directly meaningful answer. But in general: a blockchain allows users to interact without trusting a central authority, instead they verify the ...
  • 17.5k
4 votes

Is there a way to report/shutdown a Bitcoin Criminal/Bad-Actor?

Bitcoin is supposed to be permissionless and censorship resistant. That's the whole point. So, no, you can't do that.
4 votes

How can government "seize" bitcoins?

You said yourself: " I.e., short of coercing whoever has the private key to disclose it..." And that's exactly how a government can seize bitcoin, or how an unscrupulous criminal can get ...
3 votes

Is there a legal way and free way to open a Bitcoin exchange in the United States?

There is a free way. There is a legal way. There is not a free, legal way. Free way Get a DynDNS account, and a Raspberry Pi. Host the exchange on your home internet connection. I can't think of any ...
  • 28.9k
3 votes

Buying from country A, selling in country B

Sure it's legal. Unless either country has outright banned buying/selling Bitcoins. I don't think there's any country that has gone that far. You may have to report income/profit/trades to your tax ...
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