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Topic: How are under 18's using Bitcoin? (Read 3415 times)

Baitty (OP)

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How are under 18's using Bitcoin?

February 20, 2014, 02:18:39 PM

#1

I keep seeing people claiming to be well under 18 and claiming they have made a decent amount of Bitcoin yet how can they? They can't purchase from any excahnge because you need to be 18 in order to sign a legal contract and buy from any exchange.

So they are lying unless they sell services but they have no experince in most things sorry for the rant but its annoying when people claim to be young and have enough experince to make well over 50 Bitcoin in such a short period of time without buying from a exchange.

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Baitty (OP)

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Re: How are under 18's using Bitcoin?

February 20, 2014, 02:20:46 PM

#2

I'm pretty sure that it is also against the law to be using Bitcoin under the age of 18 in some countries?

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Re: How are under 18's using Bitcoin?

February 20, 2014, 02:23:34 PM

#3

Quote from: baitty on February 20, 2014, 02:18:39 PM

I keep seeing people claiming to be well under 18 and claiming they have made a decent amount of Bitcoin yet how can they? They can't purchase from any excahnge because you need to be 18 in order to sign a legal contract and buy from any exchange.

They just mine any alt-coin then trade them for BTC.

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Re: How are under 18's using Bitcoin?

February 20, 2014, 02:27:33 PM

#4

Quote from: baitty on February 20, 2014, 02:18:39 PM

I keep seeing people claiming to be well under 18 and claiming they have made a decent amount of Bitcoin yet how can they? They can't purchase from any excahnge because you need to be 18 in order to sign a legal contract and buy from any exchange.

So they are lying unless they sell services but they have no experince in most things sorry for the rant but its annoying when people claim to be young and have enough experince to make well over 50 Bitcoin in such a short period of time without buying from a exchange.

They are 100% lying. I used to lie all the time before i turned 18. No one knows and no one cares. It's really not a big deal.

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Baitty (OP)

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Re: How are under 18's using Bitcoin?

February 20, 2014, 02:35:33 PM

#5

Thought as much I don't think they would make a big profit with selling alt coins and converting them into Bitcoin.

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Re: How are under 18's using Bitcoin?

February 20, 2014, 02:37:18 PM

#6

Quote from: baitty on February 20, 2014, 02:35:33 PM

Thought as much I don't think they would make a big profit with selling alt coins and converting them into Bitcoin.

When you're under 18 "big profit" has a different meaning than when you have adult revenues (and expenses) Wink

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Baitty (OP)

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Re: How are under 18's using Bitcoin?

February 20, 2014, 02:40:05 PM

#7

Quote from: fairglu on February 20, 2014, 02:37:18 PM

Quote from: baitty on February 20, 2014, 02:35:33 PM

Thought as much I don't think they would make a big profit with selling alt coins and converting them into Bitcoin.

When you're under 18 "big profit" has a different meaning than when you have adult revenues (and expenses) Wink

Wink

That's a good point that I never actually considered also under a certain age you do not need to pay taxes or as much taxes which in a way they could benefit from I guess.

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Sheldor333

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Re: How are under 18's using Bitcoin?

February 20, 2014, 02:51:26 PM

#8

They mine. Buying Btc is not the only way to get it you know. Some might have done it long time ago, others mine alt coins and exchange for btc. They won't be able to change those btc to fiat until they are 18 that is for sure.

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Baitty (OP)

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Re: How are under 18's using Bitcoin?

February 20, 2014, 02:53:19 PM

#9

Quote from: Sheldor333 on February 20, 2014, 02:51:26 PM

They mine. Buying Btc is not the only way to get it you know. Some might have done it long time ago, others mine alt coins and exchange for btc. They won't be able to change those btc to fiat until they are 18 that is for sure.

How would under 18's with no jobs be able to afford mining equipment that sounds a little unrealistic to me.

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Re: How are under 18's using Bitcoin?

February 20, 2014, 02:54:21 PM

#10

Some under 18's have rich daddy.

And how could a currency be illegal under 18?

Baitty (OP)

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Re: How are under 18's using Bitcoin?

February 20, 2014, 02:56:08 PM

#11

Quote from: DanielVG on February 20, 2014, 02:54:21 PM

Some under 18's have rich daddy.

And how could a currency be illegal under 18?

If they are using a exchange to withdraw Bitcoin to usd or what ever fiat currency then that would illegal and I should imagine their parents could get into big trouble.

Surely they're father would do it instead of a inexperinced minor.

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adamcol

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Re: How are under 18's using Bitcoin?

February 20, 2014, 02:57:40 PM

#12

Services like QuickBT.com use a debit card to pay for purchases - in Canada you can be as young as 9 with a debit card.

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Re: How are under 18's using Bitcoin?

February 20, 2014, 03:00:59 PM

#13

Quote from: adamcol on February 20, 2014, 02:57:40 PM

Services like QuickBT.com use a debit card to pay for purchases - in Canada you can be as young as 9 with a debit card.

Many exchanges only require a debit card and I bet a lot of under 18's use these services.

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Re: How are under 18's using Bitcoin?

February 20, 2014, 03:02:27 PM

#14

99% of DogeCoin users are kids using daddy's credit card to buy billions of Doge.

Any rich kid have a dual GPU R9 290X in his gaming computer to mine.

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Re: How are under 18's using Bitcoin?

February 20, 2014, 03:41:13 PM

#15

You can easily buy BTC off ebay or make them by selling stuff or partaking in a signature deal.

Quote from: baitty on February 20, 2014, 02:53:19 PM

Quote from: Sheldor333 on February 20, 2014, 02:51:26 PM

They mine. Buying Btc is not the only way to get it you know. Some might have done it long time ago, others mine alt coins and exchange for btc. They won't be able to change those btc to fiat until they are 18 that is for sure.

How would under 18's with no jobs be able to afford mining equipment that sounds a little unrealistic to me.

You can mine some altcoins on laptops or standard computers. Under 18s can also have jobs.

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Raya

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Re: How are under 18's using Bitcoin?

February 20, 2014, 03:46:20 PM

#16

Most under 18's have jobs maybe not maximum wage but they have jobs and can pay for thenselves mining equipment is very cheap for mining alt coins and then selling on even signature advertisements are the eqiuvivalnt to real time jobs in the 1st world countries.

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devthedev

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Re: How are under 18's using Bitcoin?

February 20, 2014, 03:47:02 PM

#17

I have 10 BTC and I'm only 15, lol.

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gorgoros

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Re: How are under 18's using Bitcoin?

February 20, 2014, 03:48:20 PM

#18

Yes, why not?

rayfloyd

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Re: How are under 18's using Bitcoin?

February 20, 2014, 03:49:04 PM

#19

Also, localbitcoins is a thing

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Localbtcbuyer

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Re: How are under 18's using Bitcoin?

February 20, 2014, 03:49:17 PM

#20

What the hell are you guys talking about, being illegal? It is NOT illegal. They could have mined it. And they can sell on localbitcoins, without needing to be 18.

Craziness ITT

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