Topic: Article on Bitcoin in my Local Newspaper!! (Read 2276 times)
I'm always happy when I see things like this! I remember that some months ago here in Italy we had a documentary on the national TV that in part talked about the bitcoin, I was super excited! Anything that spreads knowledge about the "cryptocurrency world" is well accepted.
I still don't understand how things are going there in India. The only thing I've seen on the news is that the government has banned the higher denomination fiat to prevent hoarding. I suppose they'd try to limit the use of bitcoins as well. Still, I'm hoping for the better. If bitcoin goes big in India it could be a start of increased global adoption for India is definitely not an isolated country. Hopefully it becomes accepted there and that Indians would start building mines in the near future. There are plenty of people here in the forums feeling queasy that the Chinese are heavily involved in mining the crypto. Give them a run for their money! Go Indians! 
That's great! I was also seen an article in an english newspaper and inclined myself towards bitcoin few years back where they had published few bitcoiners story. Great to see India is thinking about bitcoin. But again too much popularity through newspaper is not good though as it may draw unwanted attention from enforcement agencies.
But overall it is a positive news.
But overall it is a positive news.
Thanks a lot for your inputs. I've read each post and like the fact people are actually taking this positively.For the negative replies,I can't really do much.
India has more than 1B people living there but more than half are too poor to contribute anything to bitcoin but still a few hundreds of millions are something. which countries are not allowing it's people to use bitcoins? because I think governments around the world wouldn't even mention bitcoin to avoid their people to know about it in the first place.
What is your definition of contributing to bitcoin ? Where are you getting your statistics from ? 50% of Indians are poor? We just crossed British Economy like 4 days back.We think 50% Indians are poor but this is not reality, Indians have money but we can say 50% people are not educated they do not trust on new investment schemes or opportunities. India will adopt Bitcoin as soon as more people become educated and more people start to use internet.
Again,50% of Indians are not poor.You guys really need to look at your GDP.For once,check bitcoin trading volume in India at localbitcoins. 
the government OWN their fiat. so they can ban THEIR OWN old currency.
but by governments getting involved in bitcoin they then become controllers of it.
best thing to do is leave bitcoin as it is and just make laws around their fiat.
You may not be knowing Franky1, but India is a crazy place for online users.
They banned many Porn sites when there were some Rape cases got widely publicized. Although there were rape cases found from long time and more than 75% of the time it won't even reach a Police station.
They banned many torrent sites when the "Bollywood" movies got leaked before their release and most of the people downloaded them from torrents. Where the real fact was the films were leaked from Censor board, which is a govt body.
I guess you know what am pointing at. The BTC community needs India. It is a big market for anything which is new and valuable.
i know what your trying to say. but right now.. india doesnt by default treat everything as illegal until they say yes..
bitcoin doesnt need indian government to say yes to make bitcoin legal.. bitcoin is already legal by default.
what should not happen is for india to get a grasp of bitcoin because to get control. they have to first rule it out and then they get to play around with exceptions, licences, allowances, and other things..
so logically its better to not rule it out in the first place to then play around with licences, but instead get india to strengthen the FIAT edges into and out of bitcoin. by requiring FIAT touching exchanges to require consumer protection insurance. and tax filings. rather then trying to go for bitcoin itself
in other words dont tax bitcoin.. just tax people when they withdraw fiat
That is already in process. The people who exchange their money from the local exchange websites/applications like Zebpay or Unocoin have to pay taxes in fiat.
Hope Indian govt won't do anything bad to bitcoin society in their black money curbing actions.
We think 50% Indians are poor but this is not reality, Indians have money but we can say 50% people are not educated they do not trust on new investment schemes or opportunities. India will adopt Bitcoin as soon as more people become educated and more people start to use internet.
I think he started to pay attention to the bitcoin once considered dead. I feel this is due to price increases bitcoin fairly fast, and can be said to be high. I think this will be describing the effect is very meaningful to the people who read the news. maybe they will start to think, that the coin is not a scam, and bitcoin could be a second source of income.
India has more than 1B people living there but more than half are too poor to contribute anything to bitcoin but still a few hundreds of millions are something. which countries are not allowing it's people to use bitcoins? because I think governments around the world wouldn't even mention bitcoin to avoid their people to know about it in the first place.
To start with,my local newspaper is so local that it doesn't cover half of the news happening throughout the country.Boy,I'm sure they were astounded by bitcoins beauty that they actually cared to write about it!
I'm not going to translate the entire article because there is nothing new that we need to know.Basically,it states how demonization in India has given "good days" for bitcoins.And there is a chance Indian Government may legally approve the use of bitcoins in India!
The actual article :
There are many languages spoken in India in particular local areas I also can't under stand the full article but yes I can understand many words and can understand what is the article saying. Btw there are many article printed in my local area news paper about Bitcoin.I'm not going to translate the entire article because there is nothing new that we need to know.Basically,it states how demonization in India has given "good days" for bitcoins.And there is a chance Indian Government may legally approve the use of bitcoins in India!
The actual article :
Another thing India does not need to make Bitcoin legal because Bitcoin is not illegal in India there many Bitcoin exchanges in India.
Thanks for sharing this OP, it's great to see & I hope it can attract new investors from your area into bitcoin. Even if it's only a handful, every little counts.
I don't think the government will legalize bitcoin, because there are so many controversial that can happened if bitcoin being legalize, the first one will be money laundry, the best thing is the government take care its own fiat and let the bitcoin user used the currency freely, everything will be messy if the government interfere in bitcoin
Im not sure if bitcoins will be approved in India since there are already news broadcasted in the television in India as well as it was being posted here in this forum. The news calls Bitcoin "a scam money" and made a detailed information on how illegal activities were being done using bitcoin. Drug trades and other illegal trades in the black market are being done in secret and out of the eyes of the government due to this anonymousity feauture of bitcoin. Therefore that local newspaper may have a good news but the approval of bitcoins will undergo many debates since a bad publication in the televisions were already made and it has probably affected the views and opinions of many citizens and lawmakers.
the government OWN their fiat. so they can ban THEIR OWN old currency.
but by governments getting involved in bitcoin they then become controllers of it.
best thing to do is leave bitcoin as it is and just make laws around their fiat.
You may not be knowing Franky1, but India is a crazy place for online users.
They banned many Porn sites when there were some Rape cases got widely publicized. Although there were rape cases found from long time and more than 75% of the time it won't even reach a Police station.
They banned many torrent sites when the "Bollywood" movies got leaked before their release and most of the people downloaded them from torrents. Where the real fact was the films were leaked from Censor board, which is a govt body.
I guess you know what am pointing at. The BTC community needs India. It is a big market for anything which is new and valuable.
i know what your trying to say. but right now.. india doesnt by default treat everything as illegal until they say yes..
bitcoin doesnt need indian government to say yes to make bitcoin legal.. bitcoin is already legal by default.
what should not happen is for india to get a grasp of bitcoin because to get control. they have to first rule it out and then they get to play around with exceptions, licences, allowances, and other things..
so logically its better to not rule it out in the first place to then play around with licences, but instead get india to strengthen the FIAT edges into and out of bitcoin. by requiring FIAT touching exchanges to require consumer protection insurance. and tax filings. rather then trying to go for bitcoin itself
in other words dont tax bitcoin.. just tax people when they withdraw fiat
the government OWN their fiat. so they can ban THEIR OWN old currency.
but by governments getting involved in bitcoin they then become controllers of it.
best thing to do is leave bitcoin as it is and just make laws around their fiat.
You may not be knowing Franky1, but India is a crazy place for online users.
They banned many Porn sites when there were some Rape cases got widely publicized. Although there were rape cases found from long time and more than 75% of the time it won't even reach a Police station.
They banned many torrent sites when the "Bollywood" movies got leaked before their release and most of the people downloaded them from torrents. Where the real fact was the films were leaked from Censor board, which is a govt body.
I guess you know what am pointing at. The BTC community needs India. It is a big market for anything which is new and valuable.
it's really great that in India bitcoin is becoming one of the topic on some newspaper . I didn't understand those words that are written in the newspaper but at least I've seen that Logo of bitcoin I don't know if it's also being a topic on some newspaper here in my country as I am not actually reading a newspaper .
yes, they are not just good in IT or Programming I guess they are also good in Engineering and that's what makes me think of migrating to India and transfer to one of their good University. lol by the way you are right maybe it's the main reason why they have become one of the early adopters of bitcoin .
I don't know if it's also being a topic on some newspaper here in my country as I am not actually reading a newspaper .many indians are good in programming and IT so it's no surprise they've become early adopters of bitcoin
yes, they are not just good in IT or Programming I guess they are also good in Engineering and that's what makes me think of migrating to India and transfer to one of their good University. lol
by the way you are right maybe it's the main reason why they have become one of the early adopters of bitcoin . I am not referring that Indian government should make it the official currency or interfere in the Bitcoin transaction. Am talking about the recognition.
As far as I have understood the government banned the old currency notes to curb the Black money from the tax evaders. And now Bitcoin have become a way for those cheaters to convert their black money into.
The thing is if any government would find something like this, then they will not be bothered about the value of the Bitcoin, rather they will just ban it, which is not good for most of the good people who use Bitcoins.
As far as I have understood the government banned the old currency notes to curb the Black money from the tax evaders. And now Bitcoin have become a way for those cheaters to convert their black money into.
The thing is if any government would find something like this, then they will not be bothered about the value of the Bitcoin, rather they will just ban it, which is not good for most of the good people who use Bitcoins.
the government OWN their fiat. so they can ban THEIR OWN old currency.
but by governments getting involved in bitcoin they then become controllers of it.
best thing to do is leave bitcoin as it is and just make laws around their fiat.
The sad thing is that the Government of India is still not thinking about Bitcoin as a currency. The Reserve Bank of India still has to regulate Bitcoins in order to get some official recognition to Bitcoins. It is the future of money and needs to be recognized by governments as early as possible.
no no nothe best thing is for the government to do nothing and not get involved in bitcoin.
just leave it free and open for people to do what they like.
EG indian government dont care about people growing garden plants in their own garden.. but as soon as you grow rice. suddenly you have the government breathing down your neck.
this is not because garden plants are legalised and regulated and rice is illegal.. its that rice is regulated and garden plants have NOT been classified, touched, cared about, or regulated so free to do anything with.
thus by doing nothing to classify bitcoin means people are free to do as they please.
yes india should regulate businesses that want to profit from FIAT trading. and tax people when they convert to fiat.. but going for bitcoin directly is silly and foolish
I am not referring that Indian government should make it the official currency or interfere in the Bitcoin transaction. Am talking about the recognition.
As far as I have understood the government banned the old currency notes to curb the Black money from the tax evaders. And now Bitcoin have become a way for those cheaters to convert their black money into.
The thing is if any government would find something like this, then they will not be bothered about the value of the Bitcoin, rather they will just ban it, which is not good for most of the good people who use Bitcoins.
The sad thing is that the Government of India is still not thinking about Bitcoin as a currency. The Reserve Bank of India still has to regulate Bitcoins in order to get some official recognition to Bitcoins. It is the future of money and needs to be recognized by governments as early as possible.
no no nothe best thing is for the government to do nothing and not get involved in bitcoin.
just leave it free and open for people to do what they like.
EG indian government dont care about people growing garden plants in their own garden.. but as soon as you grow rice. suddenly you have the government breathing down your neck.
this is not because garden plants are legalised and regulated and rice is illegal.. its that rice is regulated and garden plants have NOT been classified, touched, cared about, or regulated so free to do anything with.
thus by doing nothing to classify bitcoin means people are free to do as they please.
yes india should regulate businesses that want to profit from FIAT trading. and tax people when they convert to fiat.. but going for bitcoin directly is silly and foolish
The sad thing is that the Government of India is still not thinking about Bitcoin as a currency. The Reserve Bank of India still has to regulate Bitcoins in order to get some official recognition to Bitcoins. It is the future of money and needs to be recognized by governments as early as possible.
Yeah with that may be your government potentially legally approve the use of bitcoins in your country. Or in my point of view at least this newspaper will make a citizens put an interesting on bitcoin. A good start for promoting bitcoin to local people in a country.
Yes government might approve bitcoin and make it legal but I think there should be more efforts to be made on individual level in order to en cash the golden opportunities like demonetization. I believe that in next 5 years, India will have significant amount of bitcoin users than any other country (except china, usa). If we can work something and reduce transaction fees than I am damn sure that people will prefer bitcoin over fiat in coming decade.
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