500 and 1000 Re Notes Demonetized | Bitcointalksearch.org

nizamcc

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Quote from: @prashant on December 01, 2016, 09:37:08 AM

I think government has done a very good job,at least of some of black money holders will get good shock.ya thanks to media unnecessary rumor saying"black money will now be stored in form of digital currency,bitcoin" ,in india bitcoin popularity will rise.

It is not good for bitcoins actually, because it is giving a negative appearance to bitcoins in India due to the negative publicity that our media is doing here. They are saying that "Bitcoins are just used for the wrong purposes, from black money to terrorism". And if this is the way bitcoins will come in front of Indians, do you really think people will actually take any interest into this?

@prashant

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I think government has done a very good job,at least of some of black money holders will get good shock.ya thanks to media unnecessary rumor saying"black money will now be stored in form of digital currency,bitcoin" ,in india bitcoin popularity will rise.

jjjack

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it was good the value of bitcoin will increase now people will invest in bitcoin boz india n gov is dum Cheesy

philiveyjr

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Quote from: pvaspecialist on November 17, 2016, 08:57:36 AM

gold own above 3 lakhs this would be nice action but I dont think properties action will work because corrupt people know they will be caught they don't register properties their own name.most of the big corrupt people buy properties abroad even their business also outside of country so Govt. never been catch them.

Well, thats what they were planning to clamp down on. If a servant owns a property, then they will look into it. If someone who doesn't own earn enough to own a property and still owns it, then they will investigate his source of income for that purchase.

nizamcc

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Quote from: pvaspecialist on November 17, 2016, 08:57:36 AM

Quote from: erikalui on November 15, 2016, 10:14:44 AM

Quote from: pvaspecialist on November 15, 2016, 08:55:21 AM

I think this decision will not help to catch corrupt people who have illegal money because big whale already transfer their black money to Swiss bank.First need to catch them who have money on Swiss bank later taking this decision would be better.I think now only few people have black money but Common people will fall in big trouble.lets see how govt. can handle this situation Wink

The Government is going to take more serious actions against those black marketers. The gold they own above 3 lakhs will be taxed and those who own over 2 properties too will be dealt with in coming days. I fear that bitcoins too can be affected as it's considered as black money.

erikalui I dont have more than 1 lakh rupee am safe.haha...

"The gold they own above 3 lakhs will be taxed and those who own over 2 properties too will be dealt with in coming days."
gold own above 3 lakhs this would be nice action but I dont think properties action will work because corrupt people know they will be caught they don't register properties their own name.most of the big corrupt people buy properties abroad even their business also outside of country so Govt. never been catch them.

But that's why GST is going to get implemented, where all the "BENAMI" transactions are going to get seized by the government giving a final warning to surrender themselves, or strict actions are going to be taken in the future. I wanted an "INDIA" like this, and I can see it coming.

pvaspecialist

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Quote from: erikalui on November 15, 2016, 10:14:44 AM

Quote from: pvaspecialist on November 15, 2016, 08:55:21 AM

I think this decision will not help to catch corrupt people who have illegal money because big whale already transfer their black money to Swiss bank.First need to catch them who have money on Swiss bank later taking this decision would be better.I think now only few people have black money but Common people will fall in big trouble.lets see how govt. can handle this situation Wink

The Government is going to take more serious actions against those black marketers. The gold they own above 3 lakhs will be taxed and those who own over 2 properties too will be dealt with in coming days. I fear that bitcoins too can be affected as it's considered as black money.

erikalui I dont have more than 1 lakh rupee am safe.haha...

"The gold they own above 3 lakhs will be taxed and those who own over 2 properties too will be dealt with in coming days."
gold own above 3 lakhs this would be nice action but I dont think properties action will work because corrupt people know they will be caught they don't register properties their own name.most of the big corrupt people buy properties abroad even their business also outside of country so Govt. never been catch them.

nizamcc

legendary

Activity: 1218

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Quote from: erikalui on November 15, 2016, 10:14:44 AM

Quote from: pvaspecialist on November 15, 2016, 08:55:21 AM

I think this decision will not help to catch corrupt people who have illegal money because big whale already transfer their black money to Swiss bank.First need to catch them who have money on Swiss bank later taking this decision would be better.I think now only few people have black money but Common people will fall in big trouble.lets see how govt. can handle this situation Wink

The Government is going to take more serious actions against those black marketers. The gold they own above 3 lakhs will be taxed and those who own over 2 properties too will be dealt with in coming days. I fear that bitcoins too can be affected as it's considered as black money.

Yes, and even the real estate sector has caught the heat by having all the property rates slashed by nearly 30% their actual rates.
Now, the builders are going to suffer hard because people will be getting a chance to buy homes at slashed rates at prices which are on-paper.

philiveyjr

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Quote from: erikalui on November 15, 2016, 10:14:44 AM

Quote from: pvaspecialist on November 15, 2016, 08:55:21 AM

I think this decision will not help to catch corrupt people who have illegal money because big whale already transfer their black money to Swiss bank.First need to catch them who have money on Swiss bank later taking this decision would be better.I think now only few people have black money but Common people will fall in big trouble.lets see how govt. can handle this situation Wink

The Government is going to take more serious actions against those black marketers. The gold they own above 3 lakhs will be taxed and those who own over 2 properties too will be dealt with in coming days. I fear that bitcoins too can be affected as it's considered as black money.

Any source for that ? How can the government even figure out who owns how much gold without doing a raid at this moment.And if the government does organize such kind of a raid, it will be public news and all the gold with go hiding either way.

bitcoinisbest

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Quote from: erikalui on November 15, 2016, 10:14:44 AM

Quote from: pvaspecialist on November 15, 2016, 08:55:21 AM

I think this decision will not help to catch corrupt people who have illegal money because big whale already transfer their black money to Swiss bank.First need to catch them who have money on Swiss bank later taking this decision would be better.I think now only few people have black money but Common people will fall in big trouble.lets see how govt. can handle this situation Wink

The Government is going to take more serious actions against those black marketers. The gold they own above 3 lakhs will be taxed and those who own over 2 properties too will be dealt with in coming days. I fear that bitcoins too can be affected as it's considered as black money.

Absolutely bitcoin may come under the purview and since there is no direct control of the government and untraceable to the extent might result in closure of the same. Just thinking how will exchanges survive since they got funding and need to pay back if the closure comes. How will they be able to pay?

erikalui

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Quote from: pvaspecialist on November 15, 2016, 08:55:21 AM

I think this decision will not help to catch corrupt people who have illegal money because big whale already transfer their black money to Swiss bank.First need to catch them who have money on Swiss bank later taking this decision would be better.I think now only few people have black money but Common people will fall in big trouble.lets see how govt. can handle this situation Wink

The Government is going to take more serious actions against those black marketers. The gold they own above 3 lakhs will be taxed and those who own over 2 properties too will be dealt with in coming days. I fear that bitcoins too can be affected as it's considered as black money.

pvaspecialist

sr. member

Activity: 294

Merit: 250

I think this decision will not help to catch corrupt people who have illegal money because big whale already transfer their black money to Swiss bank.First need to catch them who have money on Swiss bank later taking this decision would be better.I think now only few people have black money but Common people will fall in big trouble.lets see how govt. can handle this situation Wink

saikumar011

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We are going step forward in development. Due to this most of them are affected with financial crisis.

apoorvlathey

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CryptoTalk.Org - Get Paid for every Post!

Initially the idea seemed to be good, but it is not well implemented. All the people are struggling to get their old notes get exchanged. Banks and atms are still falling short of new notes even after 5 days.
There has been a biggest mistake done, they didn't do their homework. The dimensions of new 2000rs note is different and so all the atm machines must be reconfigured thereby causing further delay of 2-3 weeks.

jay8291

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I-CHAIN - The Revolution of Digital Advertising

Quote from: philiveyjr on November 10, 2016, 10:35:35 PM

Quote from: polynesia on November 09, 2016, 07:59:54 PM

How will Bitcoin be impacted?

http://www.firstpost.com/business/rs-500-rs-1000-note-ban-industry-terms-it-watershed-moment-in-fight-against-black-money-3095596.html

Sathvik Vishwanath, CEO and Co-Founder, Unocoin: "The intentions are good but very difficult to achieve. If going cashless is the only way forward, certainly the bitcoin which is borderless trustless and transparent currency makes more sense".

I don't think government will consider bitcoin one bit. While it is a borderless transparent currency they have no control over it, and can't regulate it. As long as the government can manage their digital funds through bank accounts well, the population would be happy.

Bitcoin Implementation will only give rise to more corruption as black money holders will find an easy way to store their Black Money.

By the way its not gonna happen until gov comes with the best idea to be able to Monitor it.

jay8291

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I-CHAIN - The Revolution of Digital Advertising

Quote from: DomainMagnate on November 11, 2016, 05:37:17 AM

Quote from: bitcoinisbest on November 08, 2016, 01:37:50 PM

What a initiative taken by government. This is something out of the box for the government to do it. Many of the politicians itself have the money and taking this bold step is really appreciated. Now let us see how much it will be organized.

I agree that this is a bold decision by government and our prime minister deserves accolades for this but corruption has a deeper roots and is not going to wipe out easily

Agreed. Corruptions has Very deep roots.

Many People have their money in Swissbanks and Foreign Properties.

But peoples who will be affected will be the ones who have sacks full of CASH stored. Also As media is saying that Pakistan who was duplicating notes will be greatly affected by this move.

For Common people it is a Small Problem.

But for many who have more than 2.5 lakhs at home but are legit will also get trouble bcoz of this.

DomainMagnate

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Quote from: bitcoinisbest on November 08, 2016, 01:37:50 PM

What a initiative taken by government. This is something out of the box for the government to do it. Many of the politicians itself have the money and taking this bold step is really appreciated. Now let us see how much it will be organized.

I agree that this is a bold decision by government and our prime minister deserves accolades for this but corruption has a deeper roots and is not going to wipe out easily

bitcoinisbest

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Quote from: philiveyjr on November 10, 2016, 10:35:35 PM

Quote from: polynesia on November 09, 2016, 07:59:54 PM

How will Bitcoin be impacted?

http://www.firstpost.com/business/rs-500-rs-1000-note-ban-industry-terms-it-watershed-moment-in-fight-against-black-money-3095596.html

Sathvik Vishwanath, CEO and Co-Founder, Unocoin: "The intentions are good but very difficult to achieve. If going cashless is the only way forward, certainly the bitcoin which is borderless trustless and transparent currency makes more sense".

I don't think government will consider bitcoin one bit. While it is a borderless transparent currency they have no control over it, and can't regulate it. As long as the government can manage their digital funds through bank accounts well, the population would be happy.

Yes seems so that govt next plan would be for bitcoin where they may think how can they monitored this and if they cant we know what the results would be . So let us wait and watch if it will sustain or will it close down. All the efforts are being done by exchanges to let them know about the technology but we know the government. Wink

philiveyjr

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Quote from: polynesia on November 09, 2016, 07:59:54 PM

How will Bitcoin be impacted?

http://www.firstpost.com/business/rs-500-rs-1000-note-ban-industry-terms-it-watershed-moment-in-fight-against-black-money-3095596.html

Sathvik Vishwanath, CEO and Co-Founder, Unocoin: "The intentions are good but very difficult to achieve. If going cashless is the only way forward, certainly the bitcoin which is borderless trustless and transparent currency makes more sense".

I don't think government will consider bitcoin one bit. While it is a borderless transparent currency they have no control over it, and can't regulate it. As long as the government can manage their digital funds through bank accounts well, the population would be happy.

21BTC

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Quote from: nizamcc on November 10, 2016, 01:39:21 PM

Quote from: polynesia on November 09, 2016, 07:59:54 PM

How will Bitcoin be impacted?

http://www.firstpost.com/business/rs-500-rs-1000-note-ban-industry-terms-it-watershed-moment-in-fight-against-black-money-3095596.html

Sathvik Vishwanath, CEO and Co-Founder, Unocoin: "The intentions are good but very difficult to achieve. If going cashless is the only way forward, certainly the bitcoin which is borderless trustless and transparent currency makes more sense".

पर बिटकॉइन किससे खरीदोगे? आखिर में तो कैश का ही इस्तेमाल करोगे ना? बेचने वाला क्यों अपने सिर मुसीबत लेगा ५०० और १००० के नोट लेकर?

It's about what will happen in future not now.

nizamcc

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Quote from: polynesia on November 09, 2016, 07:59:54 PM

How will Bitcoin be impacted?

http://www.firstpost.com/business/rs-500-rs-1000-note-ban-industry-terms-it-watershed-moment-in-fight-against-black-money-3095596.html

Sathvik Vishwanath, CEO and Co-Founder, Unocoin: "The intentions are good but very difficult to achieve. If going cashless is the only way forward, certainly the bitcoin which is borderless trustless and transparent currency makes more sense".

पर बिटकॉइन किससे खरीदोगे? आखिर में तो कैश का ही इस्तेमाल करोगे ना? बेचने वाला क्यों अपने सिर मुसीबत लेगा ५०० और १००० के नोट लेकर?

Topic: 500 and 1000 Re Notes Demonetized (Read 3112 times)