Topic: Looks like they are not getting Bitcoin (Read 5652 times)

LOL you are expecting that from a country that has THIS :

Yaa, people should form bitcoin party in the same way as the pirate party of Europe.Have some legislations in favour of bitcoin or even including bitcoin as an alternate national currency.

people believe in all sort of things. As prediction tool our intuition combined with assumptions historically proved be a faulty. In our modern age there is much better methods for prediction, Mostly based on System Dynamics. that can be of great value to make financial model with use of programs like Stella and see how introduction of bitcoins will influence dynamics of world financial systems. If we have such model we can scientifically prove that prohibition of bitcoins is a bad thing . We can run that model and see how different political decisions related to bitcoins can influence the future, let say in 15 -20 years. In world terms it is not much time, even in country terms it is not much time.  

One thing is quite obvious bitcoins is powerful financial tool, which will first destroy present system and then used to rebuild and establish new financial system for the whole world. Once bitcoins become dominant everybody will rush to join. In bitcoins I do not means exactly "bitcoins". Some new and more advanced cryptos will be created in near future, little doubts about that.

I have this vague ability to state things that happen somewhere in the future. :p
Maybe coincidence... or is it?

sounds too pink in clouds, back to the ground Mr Benson

Indian government always follow Western friends.

At the end, if a government regulated/ approved Bitcoin exchange comes into play, it may override all other Bitcoin exchanges and become a larger entry point.

Maybe that is where the government can also see its profits coming in while allowing a free market for Bitcoin. Through taxing/ earning a margin on trades.

Any thoughts on that?

do we have a state? state is gone, remained only states

The  ideal  state  is no  control .

@subvolatil What does cryptoanarchy aims to achieve with respect to centralized control of govt. ?

Ok let me clear this thing up. for  a Tax is to  be levied on any item, it  need to be  represented in the national currency of the country levying tax. On products,  tax  is  levied when  import or  export of  products  are done  through countries  or  states. VAT , Sales tax, excise duty. etc.

A tax cannot be  levied on a  currency of a different country, for example if you bring in USD into the country it is not  taxed but the minute the USD hits the RBI system as a conversion to INR the tax on it  is levied.  or the RBI converts it into INR for TAX purpose.

So tax is levied on the  conversion of the  currency. where currency is involved. if  bitcoins are  treated  as  currency then  on the  conversion of  bitcoins to INR the tax  will be  levied.

But if  bitcoin is treated as a commodity the tax can be  levied without  the  conversion of  bitcoins and the tax is placed on the  total  value of  bitcoins.
so as there is a  grey line  over  the definition  by the  government on bitcoins as to treat it as a commodity or a  currency.

If bitcoin was mined in India and it can be proved, it means its domestic.

Even if govt. wants to act tough, after significant increase in volume,how will govt. dismantle sites and exchanges on tor and i2p like atlantis and silk road ?

what difference it make, if it domestic or not, how can you prove with bitcoins that it was in fact domestic transaction. If Indian government still ignoring this biz, just because it has no any significant volume. if volume increase they will act 100%.

Here I have mentioned domestic transaction.

authorities did not see it as commodity, based on examples from UK and USA. If you transmitted money from one place to another by means of bitcoins it is money transmission service, not a commodity. On both ends of transaction is a flat currency bitcoins is just a means to transmit flat currency from one place to another.

Bitcoin is a digital commodity.Selling or buying a commodity on peer to peer level is legal,as long as the seller is paying tax for it (if he includes that amount in his income).Registry of a transaction is only needed when the commodity is regulated by govt., like arms,vehicles,immovable property,stocks,bonds etc.

If I want to sell a LED TV to my friend.It will be totally legal,if I pay tax, for the money I got.If my friend smuggles LED TV to other country, he would be held responsible for smuggling not me.

Assumption: Commodity is created in India and trading is done within India.So, no question of money laundering and illegality.

So,If someone proves that certain amount of bitcoin was mined in India, and trade it on above conditions, within India, for rupees,it would be perfectly legal,until the govt. makes it mandatory to register domestic bitcoin transactions.

There was also a note somewhere saying that they were planning on amending this by-law.

it depend on country and government, in some countries hawala operators legalized, they can easily obtain permission and run their shop. But dont expect it happens here.

Saw this by-law today
http://indiankanoon.org/doc/1621737/

that is all good and valid points. nobody can stop bitcoins what they can do is to outlaw it, criminalize. that what governments do alway with something beyond of their control. It cannot be unregulated for long, they will put it under penal code and it become regulated that way, case closed.

1. The internet has become a cornerstone of National Security and defense, this cannot be taken down easily.
But  it can  be  firewalled  like  china. even though the  chinese  dont  stop  technology  progress  by placing  heavy regulations , it does  prevent  free press and  human rights.

2. If anyone makes a move against Bitcoin, especially a country, expect a fight.
Yup ! there  will be  a big backlash on this, but  no  country  can  stop the  use of  bitcoin  because  of  it  decentralized  model. the regulation and any form of ban on bitcoin  will only serve  to create  a  criminal  blackmarket. which  history has  shown  it  to be  highly dangerous.

3. We are not in the same timelines as the 90's. Things have changed. Social media has made governments respect their citizens a wee bit more.
dont know if that has  filtered  into  India  yet. remember the two girls  they  arrested  just because  they  said  some thing  so harmless. ther is  still  miles  to  go  for the  government to catch up to  modern  technology.

4. What will the Anons do if a government decides to go against the 'open currency of their internet'?
Well i  certainly think that  anon  presence is not that much  within  india, but  i do know that all  anons  will be against this  and  the LULZ will  certainly be epic.

5. How will the intellectual public/ born anarchists react when they learn more about bitcoin?
I'll tell you  when that happens. black block  all the way .  heheheh *evil smile*

6. There are steps that CIS will undertake to ensure that this does not happen.
Like  what?