Every upcoming economy or stable economy is now launching BTC ETF!

avikz

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Quote from: Bureau on June 16, 2024, 03:04:32 AM

The government of India doesn't have any clear understanding about Bitcoin. They still consider it as a mode to carry on illegal activities. That is why they will never allow SEBI to come up with something similar to Bitcoin ETF. I don't think Bitcoin will be ever traded in the Indian stock market.

The government has a very clear understanding of Bitcoin. That's the exact reason why they will never allow Bitcoin to flourish in this country. Long back, I had mentioned once, that it is good till the time government doesn't notice Bitcoin because the moment they start noticing, the freedom will be gone!

Indian government understands everything. They very clearly understand the fact, that they can't control it. In a diverse country like India which lives under a constant threat of terrorism and also shares border with two enemies, will never allow such parallel currencies to flow freely in the economy. They will always see it as a risk.

let me tell you, the stance of Indian government won't change towards crypto even if the government changes any day in future.

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Quote from: Fiatless on June 22, 2024, 02:21:02 AM

I don't think that the government of India doesn't understand how the crypto industry operates. There is nothing complicated about the crypto space that can not be comprehended if one is willing to put in some effort to learn. Learning materials are everywhere and they can easily learn from other countries. Okay let's assume they don't know, but they can easily employ the services of experts in the industry to assist them in making and implementing relevant policies.

They know everything about Bitcoin and cryptocurrency but the problem is that they do not have resources to control the activities. India is densely populated and has the biggest population in the world. The government will need good amount of money to come with resources to control activities. Which of course they are unwilling to donas they think it will not generate any future possibilities. This is where the problem arises that lack of experience and understanding about Bitcoin and cryptocurrencies.

Quote from: Fiatless on June 22, 2024, 02:21:02 AM

The only problem is that the government doesn't have an interest in the sector. The perception that the reason for not making crypto-friendly policies is that it is used for illegal activities is outdated and archaic. The US and other developed countries once had this mindset but they have moved past that era and are now making friendly policies. Government policies are highly dynamic so I cannot write off the possibility of India approving a Bitcoin ETF in the future.

You are spot on about the government mindset and since it is bureaucratic driven democracy, these bureaucrats tend to avoid complex technology. The US is a capitalist democracy wherein every new innovations face initial hurdles but does get approved after lobbying. India is not a capitalist country but a socialist, in the future things might change but it would not happen in the next 5 years.

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Quote from: Bureau on June 16, 2024, 03:04:32 AM

The government of India doesn't have any clear understanding about Bitcoin. They still consider it as a mode to carry on illegal activities. That is why they will never allow SEBI to come up with something similar to Bitcoin ETF. I don't think Bitcoin will be ever traded in the Indian stock market.

I don't think that the government of India doesn't understand how the crypto industry operates. There is nothing complicated about the crypto space that can not be comprehended if one is willing to put in some effort to learn. Learning materials are everywhere and they can easily learn from other countries. Okay let's assume they don't know, but they can easily employ the services of experts in the industry to assist them in making and implementing relevant policies.

The only problem is that the government doesn't have an interest in the sector. The perception that the reason for not making crypto-friendly policies is that it is used for illegal activities is outdated and archaic. The US and other developed countries once had this mindset but they have moved past that era and are now making friendly policies. Government policies are highly dynamic so I cannot write off the possibility of India approving a Bitcoin ETF in the future.

pawanjain

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Quote from: pakhitheboss on June 15, 2024, 05:30:12 AM

Quote from: pawanjain on June 10, 2024, 11:45:19 AM

If you are wonderin why someone would buy a bitcoin ETF then let me tell you that it's majorly beneficial for the big players.

More than half of the Indian population thinks of Bitcoin as a digital currency used for only illegal activities. Those who are in the cryptocurrency business think it to be an asset that cannot be bought due to the high price. Our retail investors and institutional investors are only investing in the share market which is quite normal. They are hardly interested in going through all those tax hurdles that Bitcoin and cryptocurrency trading requires in India.

I don't think that the big players are so illiterate that they would think bitcoin is used only for illegal activities.
I am not talking about the average investor like us in this part of my post.

Quote from: pakhitheboss on June 15, 2024, 05:30:12 AM

Quote from: pawanjain on June 10, 2024, 11:45:19 AM

The insitutional investors and big companies would not want take the burden of regulatory policies and the hassle of securing the private keys.

I know that the policy burden is what hindering big players from coming up with a Bitcoin ETF. I still do not understand why will they need a private key as such investors won't have their Bitcoins in a third-party wallet.

That's interesting. Where do you think big players hold their bitcoins ?

Quote from: pakhitheboss on June 15, 2024, 05:30:12 AM

Quote from: pawanjain on June 10, 2024, 11:45:19 AM

The simple solution of buying a bitcoin ETF would be more beneficial to them and I don't think it's of any benefit for an average investor like you and me.

That is not a solution! It is only helping other countries in this situation the USA to boost their economy while we as Indians are still struggling.

True. India has always been behind when it comes to boosting economy. Atleast India is gradually growing these days.
To be honest, bitcoin ETF is of no good for us other than the benefit of it increasing the price of bitcoin.

Bureau

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The government of India doesn't have any clear understanding about Bitcoin. They still consider it as a mode to carry on illegal activities. That is why they will never allow SEBI to come up with something similar to Bitcoin ETF. I don't think Bitcoin will be ever traded in the Indian stock market.

pakhitheboss

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Quote from: pawanjain on June 10, 2024, 11:45:19 AM

If you are wonderin why someone would buy a bitcoin ETF then let me tell you that it's majorly beneficial for the big players.

More than half of the Indian population thinks of Bitcoin as a digital currency used for only illegal activities. Those who are in the cryptocurrency business think it to be an asset that cannot be bought due to the high price. Our retail investors and institutional investors are only investing in the share market which is quite normal. They are hardly interested in going through all those tax hurdles that Bitcoin and cryptocurrency trading requires in India.

Quote from: pawanjain on June 10, 2024, 11:45:19 AM

The insitutional investors and big companies would not want take the burden of regulatory policies and the hassle of securing the private keys.

I know that the policy burden is what hindering big players from coming up with a Bitcoin ETF. I still do not understand why will they need a private key as such investors won't have their Bitcoins in a third-party wallet. [/quote]

Quote from: pawanjain on June 10, 2024, 11:45:19 AM

The simple solution of buying a bitcoin ETF would be more beneficial to them and I don't think it's of any benefit for an average investor like you and me.

That is not a solution! It is only helping other countries in this situation the USA to boost their economy while we as Indians are still struggling.

pawanjain

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Quote from: avikz on June 07, 2024, 11:08:02 AM

Quote from: Bureau on June 06, 2024, 06:43:39 PM

I would only say it is time for everyone to wait and watch. I doubt that this government will be able to complete its tenure of 5 years. There is one certainty about the ruling coalition is that the BJP will not be allowed to take important policy decision all by itself. Forget about Bitcoin ETF as India isn't that progressive as some of these countries. Although anyone from India can invest in Bitcoin spot ETF, a Google search can show the path.

Sure there are ways to invest in Bitcoin ETFs for an Indian. There are many brokers available who will give you access to the international markets. But I don't understand why would someone invest in an ETF when they can invest directly in BTC. People do not need any advanced knowledge to do so. There are exchanges like coinswitch which is very easy to understand and operate.

If you are wonderin why someone would buy a bitcoin ETF then let me tell you that it's majorly beneficial for the big players.
The insitutional investors and big companies would not want take the burden of regulatory policies and the hassle of securing the private keys.
The simple solution of buying a bitcoin ETF would be more beneficial to them and I don't think it's of any benefit for an average investor like you and me.

Bureau

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Quote from: avikz on June 07, 2024, 11:08:02 AM

Have you forgotten about the ED and CBI? None of the NDA partners will be leaving BJP in the midway because then they will be haunted by these agencies. I don't have a doubt that Modi government will complete its full tenure. But I am happy that the opposition is now stronger than ever and hideous policy decision can't be taken by BJP at their will.

Yes, I do understand if any coalition member leaves the NDA then they will see those cases again. But, 5 years is a long time and there can be differences between the coalition members with certain policies. The JDU has already asked for a common minimum programme from the BJP and it implies that they won't allow some serious changes in the constitution or allow implementing any absurd policy to disrupt the country. I feel to an extent if the government gets topple by the opposition then it is because JDU withdrew their support.

avikz

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Quote from: Bureau on June 06, 2024, 06:43:39 PM

I would only say it is time for everyone to wait and watch. I doubt that this government will be able to complete its tenure of 5 years. There is one certainty about the ruling coalition is that the BJP will not be allowed to take important policy decision all by itself. Forget about Bitcoin ETF as India isn't that progressive as some of these countries. Although anyone from India can invest in Bitcoin spot ETF, a Google search can show the path.

Sure there are ways to invest in Bitcoin ETFs for an Indian. There are many brokers available who will give you access to the international markets. But I don't understand why would someone invest in an ETF when they can invest directly in BTC. People do not need any advanced knowledge to do so. There are exchanges like coinswitch which is very easy to understand and operate.

Quote from: Bureau on June 06, 2024, 06:43:39 PM

I would only say it is time for everyone to wait and watch. I doubt that this government will be able to complete its tenure of 5 years. There is one certainty about the ruling coalition is that the BJP will not be allowed to take important policy decision all by itself. Forget about Bitcoin ETF as India isn't that progressive as some of these countries. Although anyone from India can invest in Bitcoin spot ETF, a Google search can show the path.

Have you forgotten about the ED and CBI? None of the NDA partners will be leaving BJP in the midway because then they will be haunted by these agencies. I don't have a doubt that Modi government will complete its full tenure. But I am happy that the opposition is now stronger than ever and hideous policy decision can't be taken by BJP at their will.

Bureau

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Activity: 490

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I would only say it is time for everyone to wait and watch. I doubt that this government will be able to complete its tenure of 5 years. There is one certainty about the ruling coalition is that the BJP will not be allowed to take important policy decision all by itself. Forget about Bitcoin ETF as India isn't that progressive as some of these countries. Although anyone from India can invest in Bitcoin spot ETF, a Google search can show the path.

pawanjain

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Nothing lasts forever

Quote from: pakhitheboss on June 06, 2024, 07:34:45 AM

Bitcoin ETF has been successful in the US knowing that other countries like China (using HK as a proxy), Australia, and now a third-world country like Thailand is using this opportunity to utilize Bitcoin to boost its economy.

In the meantime India after the completion of the election is still contemplating, who will form the government. As we know the ruling government will again form the government.

Going back to the shit policy by them do you think there will be a time when India will have its own Bitcoin ETF? Looking at the present situation I don't think it will happen anytime soon.

The reason, as per my understanding, is simple: they will be focused on something unrelated to cryptocurrencies or their evaluation, thus avoiding it being considered a way to launder money.

Can Modi government come up with such a new way to get Bitcoin on the Indian stock market?

How would somebody be able to launder money by investing in bitcoin ETF ?
Now that bitcoin ETF has been approved by the SEC I think it will be launched in India too.
This will comply with the AML policies of Indian government and will allow more people to buy bitcoin indirectly thus adding more taxpayers to the list.
I don't think there is any reason why the Indian government will not decide to approve the launch of bitcoin ETF any time soon.

avikz

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Quote from: pakhitheboss on June 06, 2024, 07:34:45 AM

Can Modi government come up with such a new way to get Bitcoin on the Indian stock market?

No! I don't see Modi government doing it in their 3rd term. All governments who are approving and allowing Bitcoin ETF, are progressive in nature. On the other hand, Modi government is very much willing to hide things from the public. So they would never want a progressive investment asset flourishing in India.

Rather, it is very much possible for the Modi government to ban Bitcoin from the country. Even if they allow it legally, they might increase the tax from 30%. Under Modi government you cannot expect anything positive for cryptocurrency in India.

pakhitheboss

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Bitcoin ETF has been successful in the US knowing that other countries like China (using HK as a proxy), Australia, and now a third-world country like Thailand is using this opportunity to utilize Bitcoin to boost its economy.

In the meantime India after the completion of the election is still contemplating, who will form the government. As we know the ruling government will again form the government.

Going back to the shit policy by them do you think there will be a time when India will have its own Bitcoin ETF? Looking at the present situation I don't think it will happen anytime soon.

The reason, as per my understanding, is simple: they will be focused on something unrelated to cryptocurrencies or their evaluation, thus avoiding it being considered a way to launder money.

Can Modi government come up with such a new way to get Bitcoin on the Indian stock market?

Topic: Every upcoming economy or stable economy is now launching BTC ETF! (Read 169 times)