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Topic: Banning bitcoins is against the law - page 2. (Read 630 times)

hero member
Activity: 2352
Merit: 905
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August 13, 2019, 12:50:53 PM
#26
Let's discuss what is the definition of property
a thing or things belonging to someone; possessions collectively.

Taking this into account , We can consider all the assets that we own as our property.

So is the bitcoins .
We haven't earned it doing some shady business and at the same time it's our money that we have invested in it , a money that we have earned .


Now let's talk about the Right to property in India
The right to property was initially present in Indian constitution under part III : Fundamental right , Article 31 but it was abolished by 44 th Amendment Act ,1978. ... Now it is made a constitutional right under Article 300A which states that no person can be deprived of his / her property except by authority of law.

Here the only thing is see is *except by the authority of law*

But this authority of law is being manipulated time and again by various communities , shouldn't they make decisions in accordance to everyone in this country not just some big committee set up by old leaders who doesn't even know a thing about blockchain.

Now we have some Fundemental rights
Right to freedom: It includes freedom of speech and expression, assembly, association or union or cooperatives, movement, and residence. It also includes the right to practice any profession or occupation.

We have the right to practice any profession or occupation.

What we do in Signature campaign , the trading is no easy profession but it earns better than most of the daily jobs.

So aren't they breaching this right too ?
It's guilty to steal for example apple from your neighbor's garden but will anyone sent you in jail for that? Now no one but in past, can't remember, in one country (centuries ago) was even such law for a while. Trading can be considered as a profession but there are a lot of things to trade, some of them are illegal so can't agree with you, if they ban bitcoin, it doesn't mean they are breaching our right because exception in everything. But in overall, can't understand why India made such decision recently, what's the point?
legendary
Activity: 2282
Merit: 1023
August 13, 2019, 11:57:25 AM
#25
a thing or things belonging to someone; possessions collectively.[/color]
Taking this into account , We can consider all the assets that we own as our property.
I am not familiar with the rules in India but the government can come up with any rules and regulation and if they want to ban bitcoin they can do that by passing a bill and then it becomes an act and they will play the terrorist funding and the illegal activities that can be done with a virtual currency to pass any law and the common people will not have any say on that once a government is elected. From what i have seen the exchanges in India are waiting for the court to rescue their business and the court keep on extending the hearing and majority of them lost hope.
hero member
Activity: 2814
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August 13, 2019, 08:20:58 AM
#24
Which law my friend? It changes for every country.my country may ban, your country may not because our laws are different and its not about the international laws.
I'm good that my country never looks crypto as an illegal platform, but they look it good and helping the community.

OP tried to figure out how India adopts crypto and how their government leaders appreciate Bitcoin. They never say it good and never look helping with them instead, they consider this a root cause of banking institutions getting down. They never put crypto illegal but they'll only give a warning, not to used crypto instead to stick with their fiat money.
legendary
Activity: 2212
Merit: 1008
August 13, 2019, 06:10:00 AM
#23
Every country has its own legal regulations. But there is something that applies to all countries. It's not possible to ban Bitcoin. Only a number of measures can be taken. These will not be enough. Remember, restricted things arouse more interest.
The India government was not well informed about what bitcoin is, the benefits of holding it and the positions it stand in the future as regard to our exchange rate and stores of values. If India goes ahead and makes a law that should criminalize bitcoin's holding, then she might be left out in the scheme of things in the future and her citizen are going to leave in regret! Bitcoin is an asset that worth like gold to me and any governments that hold a large quantity of it might stand in a chance to control the world in the future.

Actually the government of India already knows it all but they are more worried about crimes such as money laundering and endangering their financial stability. I myself do not agree that they openly forbid cryptocurrency, but here we cannot do anything except just accept it openly.

But on the other side I am also happy because the Indian government is also interested in cryptocurrency and blockchain technology, they also plan to make cryptocurrency like a ripple supported by several world banks. Well even though the regulations are controversial with bitcoin at least they are a little interested in crypto and are allowed to return in the future.

https://cointelegraph.com/news/reserve-bank-of-india-developing-blockchain-banking-platform
jr. member
Activity: 378
Merit: 4
August 13, 2019, 04:03:49 AM
#22
Which law my friend? It changes for every country.my country may ban, your country may not because our laws are different and its not about the international laws.
legendary
Activity: 3542
Merit: 1965
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August 13, 2019, 02:15:39 AM
#21
Property laws can change and governments are trying to challenge this based on the fact that Bitcoin is not something physical. I have seen countries like Zimbabwe where farmers land was just taken by the government even though most of those farmers bought the land and farmed there for over a 100 years.

A dictator will take your property by force and you will not be able to stop them. Look at what happened in the USA with Gold ownership. < Executive Order 6102 and also Gold Reserve Act of 1934 >  Roll Eyes
newbie
Activity: 11
Merit: 0
August 12, 2019, 08:21:35 PM
#20
It is an obligation of the government to make laws to protect its citizens and there may be a separate reason for prohibiting bitcoin. At this point the government does not violate the law, because we live and live within the legal sphere of a country. The good thing is we fight for how to make bitcoin acceptable by proposing new legal rules and proving that bitcoin is a safe and good investment.
sr. member
Activity: 882
Merit: 282
August 12, 2019, 11:17:48 AM
#19
Every country has its own legal regulations. But there is something that applies to all countries. It's not possible to ban Bitcoin. Only a number of measures can be taken. These will not be enough. Remember, restricted things arouse more interest.
The India government was not well informed about what bitcoin is, the benefits of holding it and the positions it stand in the future as regard to our exchange rate and stores of values. If India goes ahead and makes a law that should criminalize bitcoin's holding, then she might be left out in the scheme of things in the future and her citizen are going to leave in regret! Bitcoin is an asset that worth like gold to me and any governments that hold a large quantity of it might stand in a chance to control the world in the future.
jr. member
Activity: 78
Merit: 2
August 12, 2019, 11:07:08 AM
#18
In fact, it's a controversial issue, the government can make it look like a matter of state security and ban whatever.
sr. member
Activity: 254
Merit: 1258
August 12, 2019, 09:03:23 AM
#18
as far as legality goes and the "law", the government sets it and bends it. so we really can't say something is against the law as they are the lawmakers and set anything they want. we already have a couple of third world countries like Bangladesh that have banned bitcoin and there was no law to prevent that.
someone said a good thing: if you don't like the law makers then don't vote for the same idiots again and again...
Exactly, it has to be protected by the Constitution so that a law can not ban it, that's why you'd need to argue that code is speech and it is free speech therefore the law is unconstitutional and invalid.
full member
Activity: 868
Merit: 104
August 12, 2019, 10:13:08 AM
#17
Indian govt is in powerful hands since 2014 and  India has made very vast diplomatic relations with most powerful countries in the world .  Current Indian govt is focusing on overall development of the country including digitization of payment systems. I know there is a bill against cryptocurrency which will be presented in parliament in Dec2019 positively but it is required to get passed from both the houses of Parliament. Before implementation of any bill there is always a discussion in Parliament and if both the houses agree then only a bill can be implemented. Lets us wait and see what is there for cryptocurrencies in India, I hope cryptocurrencies will not be completely banned in India.
legendary
Activity: 3542
Merit: 1352
August 12, 2019, 08:36:26 AM
#16
The 'law' is the government, so technically they can break and bend it to their own will, own agenda, own liking etc. One reason why I see that this hearing in India keeps on getting postponed is because some lawmakers and analysts are still trying to find a loophole within the said law that they can capitalize on. When they finally saw one, for sure the hearing will proceed as they want it to be and present their case without hesitations and such. For sure, revisions will be made to that particular law so as to accommodate the 'needs' of the Indian government to ban crypto.
legendary
Activity: 2128
Merit: 1293
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August 12, 2019, 08:20:23 AM
#15
as far as legality goes and the "law", the government sets it and bends it. so we really can't say something is against the law as they are the lawmakers and set anything they want. we already have a couple of third world countries like Bangladesh that have banned bitcoin and there was no law to prevent that.
someone said a good thing: if you don't like the law makers then don't vote for the same idiots again and again...
member
Activity: 490
Merit: 11
August 12, 2019, 08:15:36 AM
#14
Let's discuss what is the definition of property
a thing or things belonging to someone; possessions collectively.

Taking this into account , We can consider all the assets that we own as our property.

So is the bitcoins .
We haven't earned it doing some shady business and at the same time it's our money that we have invested in it , a money that we have earned .


Now let's talk about the Right to property in India
The right to property was initially present in Indian constitution under part III : Fundamental right , Article 31 but it was abolished by 44 th Amendment Act ,1978. ... Now it is made a constitutional right under Article 300A which states that no person can be deprived of his / her property except by authority of law.

Here the only thing is see is *except by the authority of law*

But this authority of law is being manipulated time and again by various communities , shouldn't they make decisions in accordance to everyone in this country not just some big committee set up by old leaders who doesn't even know a thing about blockchain.

Now we have some Fundemental rights
Right to freedom: It includes freedom of speech and expression, assembly, association or union or cooperatives, movement, and residence. It also includes the right to practice any profession or occupation.

We have the right to practice any profession or occupation.

What we do in Signature campaign , the trading is no easy profession but it earns better than most of the daily jobs.

So aren't they breaching this right too ?

      All laws have an exemption and every government  have all the rights to revise the law for a particular exemption by virtue of the Congress or any law makers of the  country , so if they declared bitcoin as banned to a certain country , then that's the law and it should be followed .
sr. member
Activity: 391
Merit: 250
August 12, 2019, 08:10:11 AM
#13
if a coin is decentralized then  banning it is useless.
Still it is possible to ban Blockstream not bitcoin.
legendary
Activity: 3038
Merit: 1169
August 12, 2019, 08:04:46 AM
#12
Manipulation is always there and I think even if the government would show this as not truly a manipulation they can show this to the public as part of the law, but I guess the government would not give any law if they didn't see any wrong things about it, I guess you can surely own something that is your right, for example, you can own a gun with a proper paper license but that very gun is used to killing someone or used illegally I guess the government will do a proper action about this they may implement a gun ban, Then even if a person would have proper property with the gun it can still be confiscated, I guess the government will lead to something like this if Bitcoin or other cryptocurrencies would be used illegally.
hero member
Activity: 1526
Merit: 596
August 12, 2019, 07:58:40 AM
#11
The rule of property isn't very clear in your post. You are being a bit naive here and thinking that anything you buy or was given is now yours and none, not even the government will be able to take it away, and that type of thinking is just bad.

I get that you can apply this to crypto, and since it's your money and the government shouldn't be able to control it, it's similar to buying an illegal item and then not giving it to the government since it's yours.

As much as I hate that BTC gets restricted from countries - if it does happen, you should follow the law and leave BTC alone.
legendary
Activity: 2576
Merit: 1860
August 12, 2019, 07:48:20 AM
#10
I'm speaking in general terms here. I think the law is never absolute. What I mean to say is that the right to private property is not absolute. Even the most fundamentals of rights such as the right to freedom or even the right to life are not absolute. The state could stifle these rights as they deem fit. They could, for instance, lawfully take away one's property, issue gag orders, or even take one's life.

My point here is that instead of fighting tooth to tooth against the government's law, if indeed there is, against Bitcoin, I would rather employ a more amiable approach. Less hostile approach such as lobbying through India's congress, or perhaps negotiation with the proper persons, or backdoor channeling with the authorities could work more. Most of the time, fighting against the government itself is futile.
legendary
Activity: 3248
Merit: 1160
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August 12, 2019, 07:44:32 AM
#9
There is no international law for bitcoin so the law varies from individual countries.
If your government will ban bitcoin and you still use it, you are the one who is against the law, banning bitcoin maybe against our rights but not against the law.

The government before making a law, they will consult the people and because sometimes they only saw the bad side of bitcoin that's why they ban it, and we as believer can't allow that but we need to show in action that we support bitcoin so they will know there are people who are against on banning bitcoin. 
sr. member
Activity: 254
Merit: 1258
August 12, 2019, 07:31:30 AM
#9
Well if there is freedom of speech in India and it is well regarded that may be your best bet for a group to challenge the government. Code has been already stated to be speech in the United States and has been protected as such since, might be Indias best bet to protect it.
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