Topic: Cash Deposit Network or Prepaid Card Service for Bitcoin in India (Read 5367 times)

People get mad when authorities start investigating their transactions. This is a nice example.  

Why does this  feel like a  sockpuppet

I think the Unocoin that is launched now actually started working a year ago !!!

Love the idea of focusing on gold/silver (accustomed to trading, etc) shops and freelancers (performing card not present transactions and international business).

We recently also had some promising discussions with Bitpay to setup here in India. Stay tuned to learn more.

Additionally, we are in the process of launching a bitcoin exchange here in India.  We are exploring open source options such as bitcoin-central.

To stay in the loop, read more at www.IndiaBitcoin.com or visit www.IndiaBitco.in

To get involved, email us at [email protected]

Engineers
Colleges
Foreign Language Institutes
Computer Institutes
IT Company Employees (Especially System Network Admins)
Pharmacies
Payment Companies
Metal Bugs
DJ's (Good response from these guys)
Tatoo Artists
Etc..

These are some quick wins that I can think of.

Politicians, Cops, etc may not be within the scope of what I can do, but these are very important for the economy to explode.

For those who had missed this article.. Smile after reading it, but it wont be Bitcoin
http://timesofindia.indiatimes.com/business/india-business/RBI-seeks-alternative-to-/articleshow/17302585.cms

Let's not start with politicians. The later we have to deal with them, the better.

I did read it Dishwara.

Just not sure where to start from. But I will try for sure.

I have been quite comfortable writing about and talking to technologists.

Not sure if I have a say in politics.

@Benson Samuel

If you can able to educate & persuade Anna hazare members, it will create huge hit & big wave in India.
Most of Anna's supporters are well educated, in high positions, has the ability to fight against government & want to eradicate corruption & corporate.
Its a people's party, same as Bitcoin.
It will make unbelievable entry of Bitcoin in India.
Besides we need to stand as group instead of standing single.
Politicians, freedom fighters like anna hazare has that power to make us group.
Sorry for double posting, but i don't want this idea to go unnoticed.

There is a market if there is an exchange.

People want Bitcoin, but they are sceptical about buying them when they know that Selling is not as easy.

If we have a trustable method of fixed exchange, I am sure that the people will follow.

Localbitcoins works for now, but not as reliable as it depends on someone willing to buy.

With the introduction of P2P & P2M money in India since last month, we can now try and build a system that is based on these money transfer mechanisms.

Most of the requests to me have been for 1 - 2 BTC at a time, but this is only because people are still unsure about its penetration in India.

Before making an entire network, is there any evidence that there is enough of a market for bitcoin in India to support one store? I've seen a TED talk where the speaker talks about the benefits bitcoin could have for a goods seller, but do we really think there would be a large amount of bitcoin consumerism there?

Dont need a smartphone to handlie Bitcoin, check Coinapult.

Already their is apps for android os & iOS & using the QR code.
with smart phones, you just need to scan the QR codes, & pay using the software in smart phone.
https://en.bitcoin.it/wiki/Bitcoin-android
https://play.google.com/store/apps/details?id=com.miracleas.bitcoin_spinner&hl=en
https://play.google.com/store/apps/details?id=de.schildbach.wallet&hl=en
https://en.bitcoin.it/wiki/Software#Mobile_apps
https://blockchain.info/wallet/iphone-app
 

hey moving the discussion to :-
https://bitcointalksearch.org/topic/exchange-cash-deposit-and-transfer-system-for-india-bitcoin-130017

Start fresh if it is ok with you .

@subvolatil

even if he is trying to discourage people ( which he is not), ther is nothing stopping you, or anyone else from putting him on an ignore list. He has no control over bitcoin or bitcoin businesses ( just like the government doesnt ), so he cannot STOP anyone. It is no secret that he is doing business. I have known it from day one.

Now, from this point onwards, let's please stay on topic and not dirty this thread anymore.
thank you.

Back on topic:

from your other post :
https://bitcointalksearch.org/topic/m.1389366


Very true. Completely agree.


These new standards will need to be approved by a regulator. There's the first problem.


That's the second one. No regulator wants to give anyone any freedom. That is the whole point of "regulation"; Control.


This can be done by selling preloaded coin shaped retractable USB drives ( a round coin, with a usb adaptar that can pop out, and can be pushed back in), with a wallet preloaded on to it. a wallet that would not require a complete blockchain, and would allow the user to easily interface with the bitcoins ( send, receive) and the wallet ( change passphrase, generate new addresses, maintain address book, etc ). This should be OS independent and self-contained within the usb drive.
this will still require the person to be able to use and have access to a computer and an internet connection.

this is similar to https://www.casascius.com/.

Internet penetration in india is still quite low. Cell phone penetration is pretty high, and smartphones are becoming cheaper and more common place. Data service are available on phones from the word go, so a "mobile" wallet with an easy to use interface, as described above. Also an easier way of "refilling" the wallet.

Another question that i have is about credit cards.
why can't credit cards be used to purchase bitcoin?
If i were to set up a website that accepts CC payments for bitcoins, would that be a problem? from the regulator's pov, i do not see it as an issue. All credit card transactions can be tracked, and so can the bitcoin transactions. As long as a link is maintained between an order and a btc address, that should suffice, right?
beyond that point it is the "buyer's" responsibility how to break the link ( bitcoin fog anyone? ) between the address and the payment.

Such a "business" could also accept online debit card payments.

I am not aware about the legalities or the issues associated with such a setup. From all my research on bitcoin, i have noticed that no-one accepts credit card payments for bitcoins. I wonder why. something about chargebacks? i am sure this issue can be easily managed.
Maybe it is the credit card companies that need to approve the "product" before they allow payments for it?

Lucifer i would have agreed with him completely, and would have discussed, until i stumbled upon his hidden secret that he  a active member, doing business from india, you now see the hypocracy, and for a active member to write these things, was to target the indian community to stay out of this business. just look at the fake post he made regarding his name being used. he is guilty of trying to sabotage the indian community.

as far as i am concerned, dishwara has a very realistic view of how indian politicians, regulators and other policy makers function.
The issues that he presents are REAL WORLD problems. We can't be imagining a La-la land where everything is perfect and no one will try and prevent bitcoin from taking root.
Anything that circumvents the system and regulations will raise eyebrows.

we have 2 options:
avoid regulators completely by fitting bitcoin into currently defined categories, or
sell it (the idea, not the bitcoins ) to the regulators in a way that provides advantages to them.

option 1 is better.

on another note : I have personally dealt with dishwara, and i can vouch that he is not a scammer.
Besides, nowehere in his posts do i see him actively discouraging anyone. All he is doing is providing information. At least that's the way i look at it.

all i am telling this person is to stop doing what he did , if you look at this guys history he is a active member, and already active mining, and to use politics and the fear so that he can continue to do his monopolistic business as it looks like he is the only one doing this in India at the moment.  his posts was designed to scare not participate in the discussion. and this is a  public forum . if a member no mater how old he is tries to do undermine a system that would be good for every one then he does not deserve to be in this forum.

guys, if you wanna abuse each other, please do it via PM. Do not wash your dirty laundry in public.
and now, to get back on track:

Dishwara is right about the way the government officials function. I have personally had to pay "extra" to get some official, legal work done.
This is besides the point though.

If the government cannot control , or track bitcoin distribution, they will outlaw the "exchanges", and one will not be able to buy or sell bitcoins.
If you can't get em, you can't use em.
No one is going to attack bitcoin directly, it is very difficult to do.

another thing that regulators CAN do is make one single statement about bitcoin use in money laundering, etc.
this can have 2 effects -

1. all the corrupt indian politicians figure out that this is an exccellent way of washing their dirty money, and they will try to adopt it.
2. common man gets scared of bitcoin and never touches it.

I personally feel that we should forget about cricket and movie stars, and instead convince a few corrupt politicians ( or regulators ).
Tell them how it can be used, what it can be used for, and they will be convinced.

you are pathetic. *face palm*  .

still, you didn't told what scam & fraud i did.
Besides India is my country & you have no right to say me to go away or stay away from India.
This forum is for every one who want to be in bitcoin & you have no right to tell me to stay away from anywhere.