Is it legal at all?

It depends on the specific country and its laws. But most often it is difficult to give an unambiguous answer to this question. Cryptocurrencies are too new an entity for clumsy legislation. In Russia, the situation is as follows. Article 75 of the Russian Constitution states: “No banks, state bodies, and organizations, including in the regions of Russia, has no right to issue any banknotes, coins, and other monetary units and cash equivalents”. It would seem that everything, finita la comedy, it’s time to take the video cards back to the store. But this line was not enough to ban cryptocurrencies. Therefore, in 2014, the Ministry of Finance prepared a bill, which clarified the concept of “money surrogates” and included cryptocurrencies there directly. And he introduced a bunch of fines, restrictions and slaps with a ruler on his hands, which will stretch in the direction of the blockchain. But the bill was not destined to come true – it turned out too harsh and difficult to implement. Since then chaos reigns: then bitcoins are possible, then it is impossible. Either Roskomnadzor blocks sites with information about them, or it removes the block by a court decision. At least they don’t put him for their use – and thanks for that. But such a suspended state of bitcoin is unlikely to last long. The Ministry of Finance leaves no hope to take control of cryptocurrencies. And, since it was not possible to ban them, it is preparing a bill on their legalization(with subsequent control of the blockchain, of course). Whether he succeeds or not, we will find out in 2018. In the meantime, you can mine bitcoins, spend, transfer – and you will be right.

Why are so many bitcoins?

At the time of this writing (July 10, 2017), one bitcoin cost 152,965 rubles. This amount is set by the exchange and depends on people’s interest in bitcoin. And, as you see, he is quite tall. The price is also affected by the resource-intensive cryptocurrency mining process – mining, and shortages, because someday (or rather, in 2140) the release of bitcoins will finally cease.

Is Bitcoin the only cryptocurrency?

The first, but not the only one. There are others ( thousands of them ) with the general name altcoins. They are trying to get rid of the minuses of bitcoin – a finite number of coins and slow transaction processing. The main interest for them is the blockchain with which they are experimenting in every way. But they are still far from the cost and coolness of bitcoin. The most hype alfacoin is Ethereum. The airs are endless and not so much about money, but about the storage of information on the blockchain. In Ethereum, you can create your own applications for storing and transferring documents, stocks, assets, etc.

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