What If Govt makes BTC legal in India? - page 2.

bitcoinisbest

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Quote from: sunsilk on December 23, 2017, 02:26:21 AM

Quote from: bhupsaa on December 21, 2017, 04:50:50 AM

Hello Guys!!

I'm just curious that what if govt. makes BTC legal in India does it have the same value what is now or lower or higher??
I hear they are going to make it legal soon with gambling.

thanks!

I have no idea that in India bitcoin is illegal?

In every news that there comes an adoption or it's a positive one for the sake of bitcoin then that's something that will increase the price of bitcoin.

And if they will legalize it with gambling then there will be too many Indian's that will gamble through bitcoin, simply gonna make the demand higher again.

Gambling and bitcoin are 2 different aspects and Gambling is banned from starting itself. Regarding bitcoin govt is still not much in favor since they have already told that in terms of legal tender it cannot be accepted. Now they would collect the tax on the income earned through the revenues of the bitcoin and once they receive it they may ban it or make the stringent laws if they do not want to promote such virtual currencies.

sunsilk

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Quote from: bhupsaa on December 21, 2017, 04:50:50 AM

Hello Guys!!

I'm just curious that what if govt. makes BTC legal in India does it have the same value what is now or lower or higher??
I hear they are going to make it legal soon with gambling.

thanks!

I have no idea that in India bitcoin is illegal?

In every news that there comes an adoption or it's a positive one for the sake of bitcoin then that's something that will increase the price of bitcoin.

And if they will legalize it with gambling then there will be too many Indian's that will gamble through bitcoin, simply gonna make the demand higher again.

Sports Bettor

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Quote from: suvo05 on December 22, 2017, 03:07:34 PM

Quote from: bhupsaa on December 21, 2017, 04:50:50 AM

Hello Guys!!

I'm just curious that what if govt. makes BTC legal in India does it have the same value what is now or lower or higher??
I hear they are going to make it legal soon with gambling.

thanks!

The Central bank have no plan to make BTC legal. There is a news spreading around that Tax dept have send notice to several people how have exchanged huge amount of btc to flat.
And almost the same thing about gambling. Gov have completely overlooked the online gambling but there will be no permissions for any real casinos.

This sounds right. I would be very surprised if India legalized bitcoin. They could, but only after a few other countries.

suvo05

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Quote from: bhupsaa on December 21, 2017, 04:50:50 AM

Hello Guys!!

I'm just curious that what if govt. makes BTC legal in India does it have the same value what is now or lower or higher??
I hear they are going to make it legal soon with gambling.

thanks!

The Central bank have no plan to make BTC legal. There is a news spreading around that Tax dept have send notice to several people how have exchanged huge amount of btc to flat.
And almost the same thing about gambling. Gov have completely overlooked the online gambling but there will be no permissions for any real casinos.

AK47-

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Legalising bitcoin in the country with second largest number of internet users will not only boost the local Bitcoin price, but would bring a positive wave globally pushing in more demand and adoption and hence, boosting the price. Whatever recently happened in India regarding taxing capital gains and a thorough check of exchanges indicate towards a positive response from government.

I feel soon Indian government would make cryptocurrencies legal!

dogandogru

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Quote from: bhupsaa on December 21, 2017, 04:50:50 AM

Hello Guys!!

I'm just curious that what if govt. makes BTC legal in India does it have the same value what is now or lower or higher??
I hear they are going to make it legal soon with gambling.

thanks!

Legalizing Bitcoin in India will surely foster bitcoin transactions in India. People will use btc much openly. A large mob around the country suspects the legality of bitcoin which really stops them from dealing in it. Moreover Indian media and press have created such a terror regarding bitcoin which further stops people from buying bitcoin. Legalizing it will create a huge demand in the country and increase the value of cryptos

Kemarit

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Quote from: bhupsaa on December 21, 2017, 04:50:50 AM

Hello Guys!!

I'm just curious that what if govt. makes BTC legal in India does it have the same value what is now or lower or higher??
I hear they are going to make it legal soon with gambling.

thanks!

Hmmm. Let's see, India is one of the most populous nation on the planet, so obviously if they legalized bitcoin like Japan did and everyone went on-board, there will be huge impact on the prices. Right now India's bitcoin community is alive so just imagine if one day the government declare bitcoin legal. It will be a welcoming news not just for India's community but the whole crypto as well. Sadly, I think there's so much do to before they are going to accept bitcoin. It's gonna be a tug of war, there are a lot of of government officials who are anti-bitcoin. But we will see, it looks like the government is still open for tighter regulations against a total ban on bitcoin and crypto's in India.

bambazamba

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Quote from: bhupsaa on December 21, 2017, 04:50:50 AM

Hello Guys!!

I'm just curious that what if govt. makes BTC legal in India does it have the same value what is now or lower or higher??
I hear they are going to make it legal soon with gambling.

thanks!

That would be amazing if bitcoin gets legal in India . I read the news and there is a huge potential that bitcoin might get legal in India . India is one of the most active users of Bitcoin and legalizing it is much needed . That would make everything so simple and less tactic . There will be no fear of " how to handle bitcoin " and how to declare the source of money . But there s a huge possiblity that they impose taxes on the transactions or on the money you earn from bitcoin.

ahmad21

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Quote from: bhupsaa on December 21, 2017, 04:50:50 AM

Hello Guys!!

I'm just curious that what if govt. makes BTC legal in India does it have the same value what is now or lower or higher??
I hear they are going to make it legal soon with gambling.

thanks!

Ideally thinking legalization of BTC around India will attract a lot of crypto investments in the country as more and more people are going to come up with their own ICO's but before making such legalizations they have to come up with a whole new tax system to tax such persons dealing in cryptos. India is making some large steps to avoid money laundering they will never just allow people to use BTC as a tool to evade taxes. But for sure it will increase value of btc across the whole world.

Hamphser

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Quote from: bhupsaa on December 21, 2017, 04:50:50 AM

Hello Guys!!

I'm just curious that what if govt. makes BTC legal in India does it have the same value what is now or lower or higher??
I hear they are going to make it legal soon with gambling.

thanks!

If theres a certain country which would decide to adopt bitcoin then I would say it would positively affect bitcoins price but as being said above I don't think it would really be easily to be recognized or the government of india would decide such thing knowing that they are really very keen into things.For now we don't have any plans or news regarding on such step for them to make but one things for sure if theres an adoption it would really have a positive impact on the price and at the same time positive impact for those people who do live on that place.

soham

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Legalizing bitcoin in India will bring in a huge positive impact on the crypto community as a whole. Because India is the largest democracy in the world. So with millions of legal bitcoin users will definitely bring in good amount of investment in the crypto market pushing the price up to another high level. However, the current government of India is lead by a hypocrite government who doesn't want their citizens to stay wealthy. However, I know that a parliamentary committee is debating on this matter since some time now. If they come up with a positive news, it will be great news for all of us. But since nothing has happened yet, it's too early to talk about it. Lets wait and watch.

bhupsaa

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Hello Guys!!

I'm just curious that what if govt. makes BTC legal in India does it have the same value what is now or lower or higher??
I hear they are going to make it legal soon with gambling.

thanks!

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