I have also gone through the pages in the proposed draft bill. It looks scary and very unrealistic for the community. Scary because a lot of youngsters will lose there earning source and unrealistic because it is not possible to completely ban cryptocurrency trading. There are numerous ways by which people will trade illegally.
The scanned pages do not show any government seal, which means it has not yet been presented to the government. This will take time and has to be passed by both the houses of the parliament. I do not see that happening any sooner.
If indeed the government passes this bill, it will surely lose a lot of revenue that it could have generated by Income tax. The government should discuss this bill with the Indian crypto community if it wants to become an economic powerhouse. They should come out with regulation and adapt to the future not escape it .
Topic: Indian Government criticised over banning Bitcoins - page 2. (Read 525 times)
As far as I know, those countries that banned Bitcoin did not really ban it since you can be able to use it but not in the country.
If India totally banned Bitcoin, does that mean they can track people using it? Or they will just look or find people that probably using it and then put them into jail? Never thought their government is this selfish.
If India totally banned Bitcoin, does that mean they can track people using it? Or they will just look or find people that probably using it and then put them into jail? Never thought their government is this selfish.
It hasn't been decided yet if Bitcoin is going to be banned in India, but it makes for a good FUD. Even countries which are on the list of countries which banned Bitcoin haven't necessarily banned it if you look closer.
India is a big market for anything, if there is good support for bitcoin from India now bitcoin could have attained more growth. This is what Tim Draper conveyed, the government is much corrupt and always wants the people to be under them. I'm not sure whether it is true, Indian government has got its plan to have their own cryptocurrency and if it comes to existence it'll be the libra of India. This seems to be the major reason for the ban and other negative news coming out of India relative to bitcoin.
Hey
I think you guys should read this article
https://qz.com/india/1669085/tim-draper-criticises-indias-modi-government-for-bitcoin-stance/
Now a bill have been drafted according to which , doing anything with respect to Bitcoins will land you in jail , and by anything it means even holding , selling , mining , buying anything at all ..
Now Tim Draper went out and opposed the government , Calling them corrupt.
I think he is right , they just wants to steal people's freedom , actually even a spokesperson for them quoted how they would like to convert the biggest democratic country in dictatorship.
We have a right in our constitution *Right against exploitation*
Aren't they doing this to us ? Seizing what people are earning through , they aren't able to provide jobs but guess what ? Bitcoins does . They want to stop Bitcoins , from us using it and use their own made digital currency so that they can earn some profit .
There is another right *Right to Freedom* , Bitcoins is truly what means actual freedom , it's not like the banks that hold your money and shut off anytime and the owner just went to jail and you are waiting for them to come out , but guess what ? They themselves are broke, who are you taking money from ?
Bitcoins cannot be shut down !
It is where out investments are at risk , but are safe too , if you have 0.1 BTC today , even day after tomorrow or a 100 years from now they will be 0.1 BTC .
Encash them whenever you want , no one is stopping you .
I think by this draft the government is mocking the public and just seizing their rights .
They just wants their own made cryptocurrency to earn revenue for them .
Just how corrupt they are.
Maybe just wait some years they will also stop you from trading in foreign shares and ask you to just trade in Indian share market.
I think you guys should read this article
https://qz.com/india/1669085/tim-draper-criticises-indias-modi-government-for-bitcoin-stance/
Now a bill have been drafted according to which , doing anything with respect to Bitcoins will land you in jail , and by anything it means even holding , selling , mining , buying anything at all ..
Now Tim Draper went out and opposed the government , Calling them corrupt.
I think he is right , they just wants to steal people's freedom , actually even a spokesperson for them quoted how they would like to convert the biggest democratic country in dictatorship.
We have a right in our constitution *Right against exploitation*
Aren't they doing this to us ? Seizing what people are earning through , they aren't able to provide jobs but guess what ? Bitcoins does . They want to stop Bitcoins , from us using it and use their own made digital currency so that they can earn some profit .
There is another right *Right to Freedom* , Bitcoins is truly what means actual freedom , it's not like the banks that hold your money and shut off anytime and the owner just went to jail and you are waiting for them to come out , but guess what ? They themselves are broke, who are you taking money from ?
Bitcoins cannot be shut down !
It is where out investments are at risk , but are safe too , if you have 0.1 BTC today , even day after tomorrow or a 100 years from now they will be 0.1 BTC .
Encash them whenever you want , no one is stopping you .
I think by this draft the government is mocking the public and just seizing their rights .
They just wants their own made cryptocurrency to earn revenue for them .
Just how corrupt they are.
Maybe just wait some years they will also stop you from trading in foreign shares and ask you to just trade in Indian share market.
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