That is a very good step taken by the government of India to crack the black market transaction and corruption. However, the honest citizens will not have to worry for this. Not even for bitcoin transactions.
If you selling something and earning bitcoin in return, then you will have to show it in your IT return form and nothing will happen to you. But if you hide this and the amount is big, then you have a reason to worry. However, government is planning to scrap the income tax totally and about to introduce banking transaction tax and GST. Good reform.
Topic: India Bans Its Largest Fiat Currency Notes - page 3. (Read 7357 times)
Well, the situation isnt getting any better. More than anything, its getting worse. This was a move against the common people, more like the government tried to kill the crocodile and dried the entire pond and killed a bunch of innocent fish instead.
It was something unprecedented. Hopefully other countries learn lessons from India's mistake and don't repeat mistakes. It was a costly mistake, but at least the world can learn something from the whole experience.
i would say that India will suffer for this for many years to come. you cant just scrap a percentage of your money and no expect consequences.
yes i am also agree with you, i think that they have not take the right decision, they must suffer for it for years, it will effect their economy as india is already passing from financial crises as most of the people have no shelter they are sleeping on footpath.
Well, the situation isnt getting any better. More than anything, its getting worse. This was a move against the common people, more like the government tried to kill the crocodile and dried the entire pond and killed a bunch of innocent fish instead.
i would say that India will suffer for this for many years to come. you cant just scrap a percentage of your money and no expect consequences.
It won't suffer but mainly those who wanted to escape tax would suffer now. Also, the banking institution was not ready for this change and half the banks are without any fiat cahs due to the RBI not supplying them with new notes that has created a chaos among the citizens. The situation now has worsened and all banks have put up their hands to help the citizens. Only those who use online wallets/debit cards are managing.
i would say that India will suffer for this for many years to come. you cant just scrap a percentage of your money and no expect consequences.
12 days have passed since the demonetization, and still the situation is chaotic. People are still queuing outside the banks and ATMs, and they are running out of cash in a matter of few hours. If the situation doesn't change, then the government may have to face the wrath of the people.
It's ridiculous, how could a country ban her legal currency without any advanced warnning?
Yes, they aren't, most of them don't even know how to find a way to buy Bitcoin.
...
The below links to a very negative article on India's ban of R500 and R1000 notes. Briefly, it states that Modi is incompetent and dictatorial, and that India never gets complex things done right. The chaos will get worse.
http://www.zerohedge.com/news/2016-11-16/stunning-scenes-panic-gold-price-skyrockets-india-after-currency-ban
We were in India in Nov. 2015, and saw (and heard) NOTHING among those we spoke with about Bitcoin, even in Mumbai. So my *guess* would be that India is probably not responsible for today's BTC price spike.
The below links to a very negative article on India's ban of R500 and R1000 notes. Briefly, it states that Modi is incompetent and dictatorial, and that India never gets complex things done right. The chaos will get worse.
http://www.zerohedge.com/news/2016-11-16/stunning-scenes-panic-gold-price-skyrockets-india-after-currency-ban
We were in India in Nov. 2015, and saw (and heard) NOTHING among those we spoke with about Bitcoin, even in Mumbai. So my *guess* would be that India is probably not responsible for today's BTC price spike.
Yes, they aren't, most of them don't even know how to find a way to buy Bitcoin.
i think many were not using those cash value anymore, hey faded away slowly until they banned them, it's a common use to band the biggest cash in other country as well or to limit them, because of counterfeit, they are problematic indeed
How much is 500 and 1000 rupias?
I saw it yesterday, don't remember where and far I remember, isn't a big value...
Fake notes will always appears in the market, I think it's an smart idea, paper notes are not so hard to fake nowadays...
BUT the population of India was given only THREE days to be able to exchange their old notesI saw it yesterday, don't remember where and far I remember, isn't a big value...
Fake notes will always appears in the market, I think it's an smart idea, paper notes are not so hard to fake nowadays...
You are misinformed, Indian have 50 days to exchange their old currnecy notes. And Even if someone could not change their currnecy in that period. still they have 3 months of period with additional formalities and they can seek help from central bank (reserve bank) of India.
It's most likely a great step taken by the gov but some people don't understand it and they are opposing this step..
They are most likely black money holders ..
But who want the country to be saved from corruption they are in favor of this step.
No, have you even seen the massive queues in front of ATMs and other exchanges? The ones are in favour of this have a lot of money, they just are making their employees withdraw/exchange money in behalf of the holder. But the common masses who havent done anything have to sleep and cook on the pavements near banks so that they can get into the queue right when the bank opens so as to exchange money. And many times the banks dont even have money and the withdrawal limit is not enough to support families. So, its actually a rip off. I live in India buddy, I know.
Yes we can always have different opinions on this matter (or any matter), I see effects of this action in the long term. Yes a person might lose his day for withdrawing cash from ATM or bank but in the long run it’s going to be a game changer move. Being a law student, I have seen some black money holders and their cases and I can surely state that ‘This decision is a hit in bulls eye’ as far as Indian economy is concerned.
It's ridiculous, how could a country ban her legal currency without any advanced warnning?
Yes, they aren't, most of them don't even know how to find a way to buy Bitcoin.
...
The below links to a very negative article on India's ban of R500 and R1000 notes. Briefly, it states that Modi is incompetent and dictatorial, and that India never gets complex things done right. The chaos will get worse.
http://www.zerohedge.com/news/2016-11-16/stunning-scenes-panic-gold-price-skyrockets-india-after-currency-ban
We were in India in Nov. 2015, and saw (and heard) NOTHING among those we spoke with about Bitcoin, even in Mumbai. So my *guess* would be that India is probably not responsible for today's BTC price spike.
The below links to a very negative article on India's ban of R500 and R1000 notes. Briefly, it states that Modi is incompetent and dictatorial, and that India never gets complex things done right. The chaos will get worse.
http://www.zerohedge.com/news/2016-11-16/stunning-scenes-panic-gold-price-skyrockets-india-after-currency-ban
We were in India in Nov. 2015, and saw (and heard) NOTHING among those we spoke with about Bitcoin, even in Mumbai. So my *guess* would be that India is probably not responsible for today's BTC price spike.
Yes, they aren't, most of them don't even know how to find a way to buy Bitcoin.
Lol, not just about buying bitcoin, as I showed above, many are helpless here and cant afford or even know about internet. Most are afraid to trust bitcoin as they dont know its true value. Its just bad, and its not getting better.
It's ridiculous, how could a country ban her legal currency without any advanced warnning?
Yes, they aren't, most of them don't even know how to find a way to buy Bitcoin.
...
The below links to a very negative article on India's ban of R500 and R1000 notes. Briefly, it states that Modi is incompetent and dictatorial, and that India never gets complex things done right. The chaos will get worse.
http://www.zerohedge.com/news/2016-11-16/stunning-scenes-panic-gold-price-skyrockets-india-after-currency-ban
We were in India in Nov. 2015, and saw (and heard) NOTHING among those we spoke with about Bitcoin, even in Mumbai. So my *guess* would be that India is probably not responsible for today's BTC price spike.
The below links to a very negative article on India's ban of R500 and R1000 notes. Briefly, it states that Modi is incompetent and dictatorial, and that India never gets complex things done right. The chaos will get worse.
http://www.zerohedge.com/news/2016-11-16/stunning-scenes-panic-gold-price-skyrockets-india-after-currency-ban
We were in India in Nov. 2015, and saw (and heard) NOTHING among those we spoke with about Bitcoin, even in Mumbai. So my *guess* would be that India is probably not responsible for today's BTC price spike.
Yes, they aren't, most of them don't even know how to find a way to buy Bitcoin.
How much is 500 and 1000 rupias?
I saw it yesterday, don't remember where and far I remember, isn't a big value...
Fake notes will always appears in the market, I think it's an smart idea, paper notes are not so hard to fake nowadays...
BUT the population of India was given only THREE days to be able to exchange their old notesI saw it yesterday, don't remember where and far I remember, isn't a big value...
Fake notes will always appears in the market, I think it's an smart idea, paper notes are not so hard to fake nowadays...
You are misinformed, Indian have 50 days to exchange their old currnecy notes. And Even if someone could not change their currnecy in that period. still they have 3 months of period with additional formalities and they can seek help from central bank (reserve bank) of India.
It's most likely a great step taken by the gov but some people don't understand it and they are opposing this step..
They are most likely black money holders ..
But who want the country to be saved from corruption they are in favor of this step.
No, have you even seen the massive queues in front of ATMs and other exchanges? The ones are in favour of this have a lot of money, they just are making their employees withdraw/exchange money in behalf of the holder. But the common masses who havent done anything have to sleep and cook on the pavements near banks so that they can get into the queue right when the bank opens so as to exchange money. And many times the banks dont even have money and the withdrawal limit is not enough to support families. So, its actually a rip off. I live in India buddy, I know.
How much is 500 and 1000 rupias?
I saw it yesterday, don't remember where and far I remember, isn't a big value...
Fake notes will always appears in the market, I think it's an smart idea, paper notes are not so hard to fake nowadays...
BUT the population of India was given only THREE days to be able to exchange their old notesI saw it yesterday, don't remember where and far I remember, isn't a big value...
Fake notes will always appears in the market, I think it's an smart idea, paper notes are not so hard to fake nowadays...
You are misinformed, Indian have 50 days to exchange their old currnecy notes. And Even if someone could not change their currnecy in that period. still they have 3 months of period with additional formalities and they can seek help from central bank (reserve bank) of India.
It's most likely a great step taken by the gov but some people don't understand it and they are opposing this step..
They are most likely black money holders ..
But who want the country to be saved from corruption they are in favor of this step.
why he does this?
...
The below links to a very negative article on India's ban of R500 and R1000 notes. Briefly, it states that Modi is incompetent and dictatorial, and that India never gets complex things done right. The chaos will get worse.
http://www.zerohedge.com/news/2016-11-16/stunning-scenes-panic-gold-price-skyrockets-india-after-currency-ban
We were in India in Nov. 2015, and saw (and heard) NOTHING among those we spoke with about Bitcoin, even in Mumbai. So my *guess* would be that India is probably not responsible for today's BTC price spike.
The below links to a very negative article on India's ban of R500 and R1000 notes. Briefly, it states that Modi is incompetent and dictatorial, and that India never gets complex things done right. The chaos will get worse.
http://www.zerohedge.com/news/2016-11-16/stunning-scenes-panic-gold-price-skyrockets-india-after-currency-ban
We were in India in Nov. 2015, and saw (and heard) NOTHING among those we spoke with about Bitcoin, even in Mumbai. So my *guess* would be that India is probably not responsible for today's BTC price spike.
Its not your guess, its completely true. Indians dont know about bitcoins and the handful that do do not trust it due to its peer-to-peer structure. And the few people that do know, also dont trust it as they dont know the actual facts about bitcoin and only know the negative and criminal rumours of bitcoin.
Yeah it does something right. Many of them and also Governments around the world are wrong about the system bitcoin, so they assume that bitcoin is a poor means of payment and can give a negative impact to them if it can not control or use it. This would not be a bad thing if we want to give the right information. Just trying to give the best information it will give us something good things or good impact for bitcoin
I have tried promoting bitcoins in my locality without little success. Most people here don't even have a decent internet connections and they dont know about the millions of viruses infecting their PCs. And most people dont even care to listen to me, they just dont give a damn to bitcoins
...
The below links to a very negative article on India's ban of R500 and R1000 notes. Briefly, it states that Modi is incompetent and dictatorial, and that India never gets complex things done right. The chaos will get worse.
http://www.zerohedge.com/news/2016-11-16/stunning-scenes-panic-gold-price-skyrockets-india-after-currency-ban
We were in India in Nov. 2015, and saw (and heard) NOTHING among those we spoke with about Bitcoin, even in Mumbai. So my *guess* would be that India is probably not responsible for today's BTC price spike.
The below links to a very negative article on India's ban of R500 and R1000 notes. Briefly, it states that Modi is incompetent and dictatorial, and that India never gets complex things done right. The chaos will get worse.
http://www.zerohedge.com/news/2016-11-16/stunning-scenes-panic-gold-price-skyrockets-india-after-currency-ban
We were in India in Nov. 2015, and saw (and heard) NOTHING among those we spoke with about Bitcoin, even in Mumbai. So my *guess* would be that India is probably not responsible for today's BTC price spike.
Its not your guess, its completely true. Indians dont know about bitcoins and the handful that do do not trust it due to its peer-to-peer structure. And the few people that do know, also dont trust it as they dont know the actual facts about bitcoin and only know the negative and criminal rumours of bitcoin.
Yeah it does something right. Many of them and also Governments around the world are wrong about the system bitcoin, so they assume that bitcoin is a poor means of payment and can give a negative impact to them if it can not control or use it. This would not be a bad thing if we want to give the right information. Just trying to give the best information it will give us something good things or good impact for bitcoin
...
The below links to a very negative article on India's ban of R500 and R1000 notes. Briefly, it states that Modi is incompetent and dictatorial, and that India never gets complex things done right. The chaos will get worse.
http://www.zerohedge.com/news/2016-11-16/stunning-scenes-panic-gold-price-skyrockets-india-after-currency-ban
We were in India in Nov. 2015, and saw (and heard) NOTHING among those we spoke with about Bitcoin, even in Mumbai. So my *guess* would be that India is probably not responsible for today's BTC price spike.
The below links to a very negative article on India's ban of R500 and R1000 notes. Briefly, it states that Modi is incompetent and dictatorial, and that India never gets complex things done right. The chaos will get worse.
http://www.zerohedge.com/news/2016-11-16/stunning-scenes-panic-gold-price-skyrockets-india-after-currency-ban
We were in India in Nov. 2015, and saw (and heard) NOTHING among those we spoke with about Bitcoin, even in Mumbai. So my *guess* would be that India is probably not responsible for today's BTC price spike.
Its not your guess, its completely true. Indians dont know about bitcoins and the handful that do do not trust it due to its peer-to-peer structure. And the few people that do know, also dont trust it as they dont know the actual facts about bitcoin and only know the negative and criminal rumours of bitcoin.
...
The below links to a very negative article on India's ban of R500 and R1000 notes. Briefly, it states that Modi is incompetent and dictatorial, and that India never gets complex things done right. The chaos will get worse.
http://www.zerohedge.com/news/2016-11-16/stunning-scenes-panic-gold-price-skyrockets-india-after-currency-ban
We were in India in Nov. 2015, and saw (and heard) NOTHING among those we spoke with about Bitcoin, even in Mumbai. So my *guess* would be that India is probably not responsible for today's BTC price spike.
The below links to a very negative article on India's ban of R500 and R1000 notes. Briefly, it states that Modi is incompetent and dictatorial, and that India never gets complex things done right. The chaos will get worse.
http://www.zerohedge.com/news/2016-11-16/stunning-scenes-panic-gold-price-skyrockets-india-after-currency-ban
We were in India in Nov. 2015, and saw (and heard) NOTHING among those we spoke with about Bitcoin, even in Mumbai. So my *guess* would be that India is probably not responsible for today's BTC price spike.
Well this is a big step to save from corruption. I appreciate this but unfortunately the system is not playing fair thats why this produce corrupt person. we need to change the system first...
How much is 500 and 1000 rupias?
I saw it yesterday, don't remember where and far I remember, isn't a big value...
Fake notes will always appears in the market, I think it's an smart idea, paper notes are not so hard to fake nowadays...
BUT the population of India was given only THREE days to be able to exchange their old notesI saw it yesterday, don't remember where and far I remember, isn't a big value...
Fake notes will always appears in the market, I think it's an smart idea, paper notes are not so hard to fake nowadays...
You are misinformed, Indian have 50 days to exchange their old currnecy notes. And Even if someone could not change their currnecy in that period. still they have 3 months of period with additional formalities and they can seek help from central bank (reserve bank) of India.
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