Bitcoin ATM started in India despite RBI restrictions. - page 2.

romero121

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Quote from: Anarchist on October 26, 2018, 03:29:03 PM

So a war is going to start between the Indian government and Unocoin. What's the plan BTC for Unocoin because with the state it won't last forever.

I'm not sure Whether the news is true or not, but some news has rolled out stating that unocoin directors were arrested for the implementation of the atm. They have mentioned it is just a testing process, but the government authorities were not in a state of mind to accept it.

BitHodler

legendary

Activity: 1526

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I like how there are more services standing up to conduct business regardless of what the government's stance on crypto is. In certain countries it may not always be without risks, but what else is there to do?

If you let governments continue with what they have been doing for decades, nothing will ever change. We need the mass to stand behind these actions, because what will the government do? Imprison hundreds of thousands of people?

Governments are out to have the mass on their side, which is exactly what makes them so powerful. If we can get the mass to take a different path for once, it will directly benefit everyone caring about more freedom.

I know I'm probably thinking too far ahead, but with crypto we started a what might be an unstoppable revolution. We can at least try to use it in our advantage......

Moonmanmun

jr. member

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I can only hope and pray that the Indian forces dont step in and make BTC illegal in the country.

Anarchist

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So a war is going to start between the Indian government and Unocoin. What's the plan BTC for Unocoin because with the state it won't last forever.

Fatunad

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Quote from: Gabali126 on October 26, 2018, 02:07:10 PM

Quote from: hubballi on October 18, 2018, 10:14:02 AM

Here is the full article about it:

https://www.timesnownews.com/business-economy/markets/article/bitcoin-atm-india-s-first-bitcoin-kiosk-launched-in-bangalore-despite-rbi-fm-jaitleys-warnings/300677

UNOCOIN a indian exchange started its ATM Kiosk in Bangalore , which enables users to withdraw first currency by selling bitcoin, ethereum. Soon they are going to install same ATM Kiosk in Mumbai and Delhi.

What do you think that it is a good news for the cryptocurrency world

I love this daring attitude of Unocoin. Let's see how the Indian government reacts to this. I know with time, they will allow free crypto activities in the country.

When we do talk about reactions.Im quite puzzled why they do decide to proceed even if the government already set out some restrictions to them.? They are really putting up themselves into trouble.
Basing on the latest news that they are waiting for 2 weeks on what would be their jurisdiction towards crypto.If they would go positive then there would be no problems with these ATM Kiosk.

usekevin

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Quote from: hubballi on October 18, 2018, 10:14:02 AM

Here is the full article about it:

https://www.timesnownews.com/business-economy/markets/article/bitcoin-atm-india-s-first-bitcoin-kiosk-launched-in-bangalore-despite-rbi-fm-jaitleys-warnings/300677

UNOCOIN a indian exchange started its ATM Kiosk in Bangalore , which enables users to withdraw first currency by selling bitcoin, ethereum. Soon they are going to install same ATM Kiosk in Mumbai and Delhi.

What do you think that it is a good news for the cryptocurrency world

You had shared some good news for the people of India. Because the current news of bitcoin investment is based on own risk ,had fear the cryptocurrency traders in India to inverse.But the implementation of cryptocurrency ATM shows, cryptocurrency is not a illegal in India. India is the mostly popullated Country next to China. If cryptocurrency is legal in India,it made remarkable change in crypto world.

Gabali126

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Quote from: hubballi on October 18, 2018, 10:14:02 AM

Here is the full article about it:

https://www.timesnownews.com/business-economy/markets/article/bitcoin-atm-india-s-first-bitcoin-kiosk-launched-in-bangalore-despite-rbi-fm-jaitleys-warnings/300677

UNOCOIN a indian exchange started its ATM Kiosk in Bangalore , which enables users to withdraw first currency by selling bitcoin, ethereum. Soon they are going to install same ATM Kiosk in Mumbai and Delhi.

What do you think that it is a good news for the cryptocurrency world

I love this daring attitude of Unocoin. Let's see how the Indian government reacts to this. I know with time, they will allow free crypto activities in the country.

Baofeng

legendary

Activity: 2576

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Quote from: Ctn on October 26, 2018, 12:06:05 PM

Quote from: hubballi on October 18, 2018, 10:14:02 AM

Here is the full article about it:

https://www.timesnownews.com/business-economy/markets/article/bitcoin-atm-india-s-first-bitcoin-kiosk-launched-in-bangalore-despite-rbi-fm-jaitleys-warnings/300677

UNOCOIN a indian exchange started its ATM Kiosk in Bangalore , which enables users to withdraw first currency by selling bitcoin, ethereum. Soon they are going to install same ATM Kiosk in Mumbai and Delhi.

What do you think that it is a good news for the cryptocurrency world

This is now old news dude, that ATM is already closed down and even ceased by the police.

UNOCOIN owner even got caught by police for doing this against the rules of India. RBI was against this and even no application or legal approval was taken by UNOCOIN for the installation of this ATM.

There will be no more bitcoin ATM now, the one which got installed is also uninstalled by them.

Aww. If this is true then India is really taking a hard line stance against crypto so I wouldn't be surprised if they really put a total ban. However, I do think that by now, bitcoin is totally unstoppable and that people will take the risk and will try to circumvent government restrictions. We have seen China doing similar things, but it didn't stop Chinese from engaging underground or p2p crypto transactions so India's moved won't deter this growing technology.

Ctn

sr. member

Activity: 644

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Quote from: hubballi on October 18, 2018, 10:14:02 AM

Here is the full article about it:

https://www.timesnownews.com/business-economy/markets/article/bitcoin-atm-india-s-first-bitcoin-kiosk-launched-in-bangalore-despite-rbi-fm-jaitleys-warnings/300677

UNOCOIN a indian exchange started its ATM Kiosk in Bangalore , which enables users to withdraw first currency by selling bitcoin, ethereum. Soon they are going to install same ATM Kiosk in Mumbai and Delhi.

What do you think that it is a good news for the cryptocurrency world

This is now old news dude, that ATM is already closed down and even ceased by the police.

UNOCOIN owner even got caught by police for doing this against the rules of India. RBI was against this and even no application or legal approval was taken by UNOCOIN for the installation of this ATM.

There will be no more bitcoin ATM now, the one which got installed is also uninstalled by them.

pumbum

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it adds another practice that bitcoin may spread despite the restrictions of the various parties

Herbys

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Quote from: hubballi on October 18, 2018, 10:14:02 AM

Here is the full article about it:

https://www.timesnownews.com/business-economy/markets/article/bitcoin-atm-india-s-first-bitcoin-kiosk-launched-in-bangalore-despite-rbi-fm-jaitleys-warnings/300677

UNOCOIN a indian exchange started its ATM Kiosk in Bangalore , which enables users to withdraw first currency by selling bitcoin, ethereum. Soon they are going to install same ATM Kiosk in Mumbai and Delhi.

What do you think that it is a good news for the cryptocurrency world

This Unocoin bypasses the ban legislation on cryptocurrency.

ATMs allow users to deposit or withdraw rupees directly to or from Unocoin accounts.

avikz

legendary

Activity: 3080

Merit: 1500

Definitely it is the best step UNOCoin has taken to bypass the current RBI regulation. If you have bitcoin and other supported cryptos in UNOCoin account, you can simply withdraw cash from this ATM without going though a p2p mode and save a lot of hassles.

This way, Indians will not have to do anything illegal or use their bank accounts. So it's a great step to bypass the legal obligations that India has put in place against crypto.

ongkok87

sr. member

Activity: 1120

Merit: 256

Quote from: omorfi on October 18, 2018, 11:10:06 AM

It is very pleasing to see the bitcoin ATM news that has been put into service in a new country. I hope we see in the near future the news that all obstructions on Bitcoin have been removed.

it's true that with many countries that have established bitcoin ATMs, it will make bitcoin more developed and many people in this world who don't know about bitcoin know better. so I hope that bitcoin can be quickly received in all countries in the world

Brawnsugar

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Quote from: andriw on October 18, 2018, 11:27:52 AM

RBI said services such as "maintaining accounts, registering, trading, settling, clearing, giving loans against virtual tokens, accepting them as collateral, opening accounts of exchanges dealing with them and transfer / receipt of money in accounts related to purchase / sale" of virtual currencies should be stopped. Cry

I think that is bad for cryptocurrencies in India, because it is not a legal tender. Establishing an ATM is a brave step because it is likely to be shut down by the RBI.

Right..I see the RBI clamping down on this move sooner than later. It's still against their stance. But the question remains, how long will they continue to fight it? Wouldn't it be better if they put regulations in place? Crypto is something they cannot stop. Putting a ban on it hasn't stopped Indians from trading cryptos, this the government should know

andriw

member

Activity: 406

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RBI said services such as "maintaining accounts, registering, trading, settling, clearing, giving loans against virtual tokens, accepting them as collateral, opening accounts of exchanges dealing with them and transfer / receipt of money in accounts related to purchase / sale" of virtual currencies should be stopped. Cry

I think that is bad for cryptocurrencies in India, because it is not a legal tender. Establishing an ATM is a brave step because it is likely to be shut down by the RBI.

omorfi

sr. member

Activity: 728

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It is very pleasing to see the bitcoin ATM news that has been put into service in a new country. I hope we see in the near future the news that all obstructions on Bitcoin have been removed.

hubballi

sr. member

Activity: 882

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Actually you can do transactions in fiat currency through person to person but everything is on own risk, and their is battle going on between crypto currency exchange vs RBI against the restriction given to banking system to cancel the account who are doing business in cryptocurrency.

Being a democratic country it is a peoples choice to do what ever they want until it is not illegal activity.

jademaxsuy

full member

Activity: 924

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If this is against the law to be implemented by India about cryptocurrency then this things that they implemented about cryptocurrency in India will be ban. Maybe for now the cryptocurrency in India still works for it is still under some studies on either cryptocurrency could be accepted or not. This is only a matter of time on the decisions about cryptocurrency in a certain country like India.

hubballi

sr. member

Activity: 882

Merit: 297

Here is the full article about it:

https://www.timesnownews.com/business-economy/markets/article/bitcoin-atm-india-s-first-bitcoin-kiosk-launched-in-bangalore-despite-rbi-fm-jaitleys-warnings/300677

UNOCOIN a indian exchange started its ATM Kiosk in Bangalore , which enables users to withdraw first currency by selling bitcoin, ethereum. Soon they are going to install same ATM Kiosk in Mumbai and Delhi.

What do you think that it is a good news for the cryptocurrency world

Topic: Bitcoin ATM started in India despite RBI restrictions. - page 2. (Read 348 times)