Is Bitcoin Legal - Business Insider

Are Bitcoin legal

Blockchain In Bitcoin / July 13, 2017

The website https://bitcoin.org/ (hereinafter, referred to as the "Website") provides information and material of a general nature. You are not authorized and nor should you rely on the Website for legal advice, business advice, or advice of any kind. You act at your own risk in reliance on the contents of the Website. Should you make a decision to act or not act you should contact a licensed attorney in the relevant jurisdiction in which you want or need help. In no way are the owners of, or contributors to, the Website responsible for the actions, decisions, or other behavior taken or not taken by you in reliance upon the Website.

2. Translations

The Website may contain translations of the English version of the content available on the Website. These translations are provided only as a convenience. In the event of any conflict between the English language version and the translated version, the English language version shall take precedence. If you notice any inconsistency, please report them on GitHub.

3. Risks related to the use of Bitcoin

The Website will not be responsible for any losses, damages or claims arising from events falling within the scope of the following five categories:

(1) Mistakes made by the user of any Bitcoin-related software or service, e.g., forgotten passwords, payments sent to wrong Bitcoin addresses, and accidental deletion of wallets.

(2) Software problems of the Website and/or any Bitcoin-related software or service, e.g., corrupted wallet file, incorrectly constructed transactions, unsafe cryptographic libraries, malware affecting the Website and/or any Bitcoin-related software or service.

(3) Technical failures in the hardware of the user of any Bitcoin-related software or service, e.g., data loss due to a faulty or damaged storage device.

(4) Security problems experienced by the user of any Bitcoin-related software or service, e.g., unauthorized access to users' wallets and/or accounts.

(5) Actions or inactions of third parties and/or events experienced by third parties, e.g., bankruptcy of service providers, information security attacks on service providers, and fraud conducted by third parties.

4. Investment risks

The investment in Bitcoin can lead to loss of money over short or even long periods. The investors in Bitcoin should expect prices to have large range fluctuations. The information published on the Website cannot guarantee that the investors in Bitcoin would not lose money.

5. Compliance with tax obligations

The users of the Website are solely responsible to determinate what, if any, taxes apply to their Bitcoin transactions. The owners of, or contributors to, the Website are NOT responsible for determining the taxes that apply to Bitcoin transactions.

6. The Website does not store, send, or receive bitcoins

The Website does not store, send or receive bitcoins. This is because bitcoins exist only by virtue of the ownership record maintained in the Bitcoin network. Any transfer of title in bitcoins occurs within a decentralized Bitcoin network, and not on the Website.

7. No warranties

The Website is provided on an "as is" basis without any warranties of any kind regarding the Website and/or any content, data, materials and/or services provided on the Website.

8. Limitation of liability

Unless otherwise required by law, in no event shall the owners of, or contributors to, the Website be liable for any damages of any kind, including, but not limited to, loss of use, loss of profits, or loss of data arising out of or in any way connected with the use of the Website.

9. Arbitration

The user of the Website agrees to arbitrate any dispute arising from or in connection with the Website or this disclaimer, except for disputes related to copyrights, logos, trademarks, trade names, trade secrets or patents.

Source: bitcoin.org