Author

Topic: Is it legal to run a Bitcoin Miner in India? (Read 1430 times)

legendary
Activity: 2870
Merit: 1091
--- ChainWorks Industries ---
December 19, 2014, 10:06:29 PM
#11
I wonder about North Korea ..

the best thing to do is - do what i do - message them ... find the electricity authority and send them a message asking ...

they may take a while to answer - but they are usually happy to help ...

they are - after all - taking our money ...

Wink

#crysx
hero member
Activity: 728
Merit: 500
December 19, 2014, 07:57:22 PM
#10
I wonder about North Korea ..
legendary
Activity: 2870
Merit: 1091
--- ChainWorks Industries ---
December 17, 2014, 08:15:31 AM
#9
According to http://en.wikipedia.org/wiki/Legality_of_Bitcoin_by_country, Bitcoin is restricted in India? Will it create a problem if I run in a rented shop with commercial electricity?

the legality question is not of bitcoin itself - but of the use of equipment ( and the subsequent electricity ) for the creation of bitcoin ...

as a farm operator also - i understand that bitcoin itself may be restricted ( and therefore the use of ) but not the mining equipment itself ...

each country has its own laws and restrictions - so you need to find out what these are ... but in most instances - computer equipment is not illegal and therefore the use of them is the only question - not hwteher bitcoin itself is outlawed or not ...

my seven cents worth ... or 0.00000007btc ... Wink

#crysx
sr. member
Activity: 481
Merit: 250
December 17, 2014, 08:07:50 AM
#8
According to http://en.wikipedia.org/wiki/Legality_of_Bitcoin_by_country, Bitcoin is restricted in India? Will it create a problem if I run in a rented shop with commercial electricity?

I think it will be really risky, I would suggest you to just buy 1-2 miner and mine at home. Less amount means less risk...
legendary
Activity: 1190
Merit: 1000
December 17, 2014, 07:38:17 AM
#7
Would be more precise to ask someone from india  Smiley

My country(indonesia) also mark as restricted, but there is no regulation yet to ban the bitcoin. Local bitcoin exchange had no problem transferring money to customer bank account.
newbie
Activity: 37
Merit: 0
December 17, 2014, 06:55:28 AM
#6
It could be highly illegal... but then it's India!! Do all the laws they want, there's very little capacity (or will) to enforce them...
legendary
Activity: 2744
Merit: 1193
I don't believe in denial.
December 17, 2014, 04:39:57 AM
#5
What would the consequences be for the person on the lease contract if it would catch fire?
member
Activity: 70
Merit: 10
BtcMarkets - Australian Bitcoin Trading Platform
December 17, 2014, 04:18:34 AM
#4
What are the chances of being caught?
donator
Activity: 1617
Merit: 1012
December 17, 2014, 03:45:26 AM
#3
Didn't somebody once run a GPU mining company in India and sold shared on GLBSE? I don't think anything happened to the guy.
hero member
Activity: 658
Merit: 500
December 17, 2014, 02:46:13 AM
#2
yes
newbie
Activity: 7
Merit: 0
December 17, 2014, 01:21:11 AM
#1
According to http://en.wikipedia.org/wiki/Legality_of_Bitcoin_by_country, Bitcoin is restricted in India? Will it create a problem if I run in a rented shop with commercial electricity?
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