I have this Question , the BitCoin mining uses the PC hardware to generate coins.
isnt this the same as buying a banknote printing machine and print money without reserve?
how on earth is this any different ? and how on earth is it legal?.
Mining difficulty is constantly adjusted so that coin production is maintained at a controlled rate. It's analogous to a country's central bank printing more money, except it's decentralized (which is one of the key points behind cryptocurrencies). In some ways it's actually more stable than fiat currency in that regard, as central banks can arbitrarily decide to start printing more money, with negative effects on inflation, whereas with bitcoin the rate of coin production (and therefore inflation) is set.
Regarding legality, cryptocurrency is still pretty new, governments may try to outlaw yet. Last I heard China already is.