What will be the effect of RBI's warning?

Transhuman32

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Quote from: subvolatil on December 26, 2013, 12:15:24 PM

Quote from: BTCIndia on December 26, 2013, 12:12:46 PM

Quote from: subvolatil on December 26, 2013, 11:54:06 AM

Quote from: BTCIndia on December 26, 2013, 11:38:20 AM

Quote from: Benson Samuel on December 26, 2013, 11:31:07 AM

Quote from: BTCIndia on December 26, 2013, 11:22:22 AM

Quote from: bitcoinisfurture on December 26, 2013, 10:46:11 AM

Will RBI come up with something within a month after reading that few sites have suspended their services from various newspaper or like Lokpal bill this will be pushed too...

Let's explain Bitcoin to Mr. Arvind Kejriwal. He might help us out. Tongue

If you can get across to him, I do believe that might really understand. I was reading that he is working on a lot of decentralization projects and this might fit into some of his plans.

Now, he's honorable Chief Minter and has electricity and water to be worried about. I'm not sure..But, I'll try to explain the storm in making whenever, I plan Delhi next time. Bhagwan ki mummy ki kasam! Grin

Let me see if i can get hold of him. will see if i can meet them this week or early next month.

Best wishes! Make sure, you stay perfectly neutral during explanation rather then pushing him into.. Bitcoin is revolution, Bitcoin is going to change the future, Bitcoin is future of payment etc etc
Initial thoughts acts as seed of thoughts for further analysis. I'd suggest be to very careful while injecting him into Bitcoin philosophy. Please!

Sure i will keep that mind, and will explain the idea behind Crypto-currency.

Please keep us updated about it.

BTCIndia

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vini, vedi, no vici.

Quote from: subvolatil on December 26, 2013, 12:15:24 PM

Sure i will keep that mind, and will explain the idea behind Crypto-currency.

Thanks for being understanding! I'm glad you perfectly understand what I meant to say, its seldom to see this happening in communication. Thank again!

subvolatil

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Cypherpunk and full-time CryptoAnarchist

Quote from: BTCIndia on December 26, 2013, 12:12:46 PM

Quote from: subvolatil on December 26, 2013, 11:54:06 AM

Quote from: BTCIndia on December 26, 2013, 11:38:20 AM

Quote from: Benson Samuel on December 26, 2013, 11:31:07 AM

Quote from: BTCIndia on December 26, 2013, 11:22:22 AM

Quote from: bitcoinisfurture on December 26, 2013, 10:46:11 AM

Will RBI come up with something within a month after reading that few sites have suspended their services from various newspaper or like Lokpal bill this will be pushed too...

Let's explain Bitcoin to Mr. Arvind Kejriwal. He might help us out. Tongue

If you can get across to him, I do believe that might really understand. I was reading that he is working on a lot of decentralization projects and this might fit into some of his plans.

Now, he's honorable Chief Minter and has electricity and water to be worried about. I'm not sure..But, I'll try to explain the storm in making whenever, I plan Delhi next time. Bhagwan ki mummy ki kasam! Grin

Let me see if i can get hold of him. will see if i can meet them this week or early next month.

Best wishes! Make sure, you stay perfectly neutral during explanation rather then pushing him into.. Bitcoin is revolution, Bitcoin is going to change the future, Bitcoin is future of payment etc etc
Initial thoughts acts as seed of thoughts for further analysis. I'd suggest be to very careful while injecting him into Bitcoin philosophy. Please!

Sure i will keep that mind, and will explain the idea behind Crypto-currency.

BTCIndia

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Activity: 686

Merit: 500

vini, vedi, no vici.

Quote from: subvolatil on December 26, 2013, 11:54:06 AM

Quote from: BTCIndia on December 26, 2013, 11:38:20 AM

Quote from: Benson Samuel on December 26, 2013, 11:31:07 AM

Quote from: BTCIndia on December 26, 2013, 11:22:22 AM

Quote from: bitcoinisfurture on December 26, 2013, 10:46:11 AM

Will RBI come up with something within a month after reading that few sites have suspended their services from various newspaper or like Lokpal bill this will be pushed too...

Let's explain Bitcoin to Mr. Arvind Kejriwal. He might help us out. Tongue

If you can get across to him, I do believe that might really understand. I was reading that he is working on a lot of decentralization projects and this might fit into some of his plans.

Now, he's honorable Chief Minter and has electricity and water to be worried about. I'm not sure..But, I'll try to explain the storm in making whenever, I plan Delhi next time. Bhagwan ki mummy ki kasam! Grin

Let me see if i can get hold of him. will see if i can meet them this week or early next month.

Best wishes! Make sure, you stay perfectly neutral during explanation rather then pushing him into.. Bitcoin is revolution, Bitcoin is going to change the future, Bitcoin is future of payment etc etc
Initial thoughts acts as seed of thoughts for further analysis. I'd suggest be to very careful while injecting him into Bitcoin philosophy. Please!

legendster

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www.V.systems

I dont know if it matters or is relevant, I did speak to KC Misra a few days back regarding this.

And since that last conversation he hasnt responded :/

subvolatil

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Activity: 546

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Cypherpunk and full-time CryptoAnarchist

Quote from: BTCIndia on December 26, 2013, 11:38:20 AM

Quote from: Benson Samuel on December 26, 2013, 11:31:07 AM

Quote from: BTCIndia on December 26, 2013, 11:22:22 AM

Quote from: bitcoinisfurture on December 26, 2013, 10:46:11 AM

Will RBI come up with something within a month after reading that few sites have suspended their services from various newspaper or like Lokpal bill this will be pushed too...

Let's explain Bitcoin to Mr. Arvind Kejriwal. He might help us out. Tongue

If you can get across to him, I do believe that might really understand. I was reading that he is working on a lot of decentralization projects and this might fit into some of his plans.

Now, he's honorable Chief Minter and has electricity and water to be worried about. I'm not sure..But, I'll try to explain the storm in making whenever, I plan Delhi next time. Bhagwan ki mummy ki kasam! Grin

Let me see if i can get hold of him. will see if i can meet them this week or early next month.

BTCIndia

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Activity: 686

Merit: 500

vini, vedi, no vici.

Quote from: Benson Samuel on December 26, 2013, 11:31:07 AM

Quote from: BTCIndia on December 26, 2013, 11:22:22 AM

Quote from: bitcoinisfurture on December 26, 2013, 10:46:11 AM

Will RBI come up with something within a month after reading that few sites have suspended their services from various newspaper or like Lokpal bill this will be pushed too...

Let's explain Bitcoin to Mr. Arvind Kejriwal. He might help us out. Tongue

If you can get across to him, I do believe that might really understand. I was reading that he is working on a lot of decentralization projects and this might fit into some of his plans.

Now, he's honorable Chief Minter and has electricity and water to be worried about. I'm not sure..But, I'll try to explain the storm in making whenever, I plan Delhi next time. Bhagwan ki mummy ki kasam! Grin

undeadbitcoiner

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Undeadbitcoiner Will not DIE until 1BTC=50K

Quote from: BTCIndia on December 26, 2013, 10:37:31 AM

Quote from: undeadbitcoiner on December 26, 2013, 01:32:00 AM

Quote from: bitcoinisfurture on December 26, 2013, 01:08:56 AM

Quote from: undeadbitcoiner on December 26, 2013, 01:04:32 AM

Dont worry about RBI's warning, One country can do nothing in Bitcoin World. Remember that its a Global Currency and be happy RBI Warning will help Bitcoin to advertise in India.

Jai Ho

Well if one dint worry about the RBI, news and media would not have covered itself and neither the sites would have suspended their services.

A country can do one thing is that banning it and probably you are from the same country which bans it. So for you bitcoin has no value though its value globally would be 1000$.

It doesnt matter from where i am, Matters that how we are going to make it huge, India's RBI just warns about Bitcoin but not yet says Illigal coz Single country have nothing power about doing anything for bitcoin, May be you are familier with China Ban case, Now china have deposit options from Recharge cards and even Hongkong and Singapore is gaining profit for that movment, So if Indian Government wants get profit from bitcoin then they will think about it if not we bitcoiners will move to anywhere.

How you suggest Indian to gain profit from Bitcoin revolution? India is international hub if IT development. Yet, they're ignorant about this disruptive technology. Month back, Infosys started inquiry into Bitcoin. Lets see what they comes up with as conclusion. Looking forward to development on crypto-currencies.

We must understand that RBI's Warning is for Risk of volatility, But BTC is not Illigal for trade, RBI is concerned for Money Laundring what is the prime business of India. Bitcoiners are free of bound there are no borders in bitcoiners that Indian Governmet Must know. May be you dont noticed about Nepal's Recent condition Being a small country Nepal Grows up from 112th Ranking to 67th Ranking in Bitcoin Business since RBI's Warning did you noticed why? Open Borders and Nepal recently started to accept 500 and 1000 INR's which was blocked since 13 Years in Nepal, Now Indian Government must Think what they want, They want Bitcoin Business pays Tax in India or in Nepal , Bangladesh or Pakistan because Bitcoiners are global runners.

Benson Samuel

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Landscaping Bitcoin for India!

Quote from: BTCIndia on December 26, 2013, 11:22:22 AM

Quote from: bitcoinisfurture on December 26, 2013, 10:46:11 AM

Will RBI come up with something within a month after reading that few sites have suspended their services from various newspaper or like Lokpal bill this will be pushed too...

Let's explain Bitcoin to Mr. Arvind Kejriwal. He might help us out. Tongue

If you can get across to him, I do believe that might really understand. I was reading that he is working on a lot of decentralization projects and this might fit into some of his plans.

BTCIndia

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Activity: 686

Merit: 500

vini, vedi, no vici.

Quote from: bitcoinisfurture on December 26, 2013, 10:46:11 AM

Will RBI come up with something within a month after reading that few sites have suspended their services from various newspaper or like Lokpal bill this will be pushed too...

Let's explain Bitcoin to Mr. Arvind Kejriwal. He might help us out. Tongue

bitcoinisfurture

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Will RBI come up with something within a month after reading that few sites have suspended their services from various newspaper or like Lokpal bill this will be pushed too...

BTCIndia

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Activity: 686

Merit: 500

vini, vedi, no vici.

Quote from: undeadbitcoiner on December 26, 2013, 01:32:00 AM

Quote from: bitcoinisfurture on December 26, 2013, 01:08:56 AM

Quote from: undeadbitcoiner on December 26, 2013, 01:04:32 AM

Dont worry about RBI's warning, One country can do nothing in Bitcoin World. Remember that its a Global Currency and be happy RBI Warning will help Bitcoin to advertise in India.

Jai Ho

Well if one dint worry about the RBI, news and media would not have covered itself and neither the sites would have suspended their services.

A country can do one thing is that banning it and probably you are from the same country which bans it. So for you bitcoin has no value though its value globally would be 1000$.

It doesnt matter from where i am, Matters that how we are going to make it huge, India's RBI just warns about Bitcoin but not yet says Illigal coz Single country have nothing power about doing anything for bitcoin, May be you are familier with China Ban case, Now china have deposit options from Recharge cards and even Hongkong and Singapore is gaining profit for that movment, So if Indian Government wants get profit from bitcoin then they will think about it if not we bitcoiners will move to anywhere.

How you suggest Indian to gain profit from Bitcoin revolution? India is international hub if IT development. Yet, they're ignorant about this disruptive technology. Month back, Infosys started inquiry into Bitcoin. Lets see what they comes up with as conclusion. Looking forward to development on crypto-currencies.

undeadbitcoiner

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Activity: 910

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Undeadbitcoiner Will not DIE until 1BTC=50K

Quote from: bitcoinisfurture on December 26, 2013, 01:08:56 AM

Quote from: undeadbitcoiner on December 26, 2013, 01:04:32 AM

Dont worry about RBI's warning, One country can do nothing in Bitcoin World. Remember that its a Global Currency and be happy RBI Warning will help Bitcoin to advertise in India.

Jai Ho

Well if one dint worry about the RBI, news and media would not have covered itself and neither the sites would have suspended their services.

A country can do one thing is that banning it and probably you are from the same country which bans it. So for you bitcoin has no value though its value globally would be 1000$.

It doesnt matter from where i am, Matters that how we are going to make it huge, India's RBI just warns about Bitcoin but not yet says Illigal coz Single country have nothing power about doing anything for bitcoin, May be you are familier with China Ban case, Now china have deposit options from Recharge cards and even Hongkong and Singapore is gaining profit for that movment, So if Indian Government wants get profit from bitcoin then they will think about it if not we bitcoiners will move to anywhere.

Benson Samuel

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Activity: 1890

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Landscaping Bitcoin for India!

Quote from: bitcoinisfurture on December 26, 2013, 01:08:56 AM

Quote from: undeadbitcoiner on December 26, 2013, 01:04:32 AM

Dont worry about RBI's warning, One country can do nothing in Bitcoin World. Remember that its a Global Currency and be happy RBI Warning will help Bitcoin to advertise in India.

Jai Ho

Well if one dint worry about the RBI, news and media would not have covered itself and neither the sites would have suspended their services.

A country can do one thing is that banning it and probably you are from the same country which bans it. So for you bitcoin has no value though its value globally would be 1000$.

You obviously are not sure of what you are talking about. No one will be able to ban this. Which is why no one has done so far.
The path for Bitcoin is being chosen here. Will it be a cash only commodity or will it be accepted through regulated banking channels.

Make no mistake that no matter which path is chosen, Bitcoin cannot really be stopped.

bitcoinisfurture

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Quote from: undeadbitcoiner on December 26, 2013, 01:04:32 AM

Dont worry about RBI's warning, One country can do nothing in Bitcoin World. Remember that its a Global Currency and be happy RBI Warning will help Bitcoin to advertise in India.

Jai Ho

Well if one dint worry about the RBI, news and media would not have covered itself and neither the sites would have suspended their services.

A country can do one thing is that banning it and probably you are from the same country which bans it. So for you bitcoin has no value though its value globally would be 1000$.

Benson Samuel

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Activity: 1890

Merit: 1000

Landscaping Bitcoin for India!

Quote from: bitcoinisfurture on December 26, 2013, 01:02:12 AM

Oppps suddenly the strom has come.

INRBTC suspended its services as well till further notice form RBI.

Start selling the bitcoins, unless and untill somehow RBI gives the hope to make it legal, which seems to be very difficult currently.

Am not overly worried about this. India has to absorb a share of Bitcoins and governments will not lose out on this.

undeadbitcoiner

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Undeadbitcoiner Will not DIE until 1BTC=50K

Dont worry about RBI's warning, One country can do nothing in Bitcoin World. Remember that its a Global Currency and be happy RBI Warning will help Bitcoin to advertise in India.

Jai Ho

bitcoinisfurture

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Oppps suddenly the strom has come.

INRBTC suspended its services as well till further notice form RBI.

Start selling the bitcoins, unless and untill somehow RBI gives the hope to make it legal, which seems to be very difficult currently.

Benson Samuel

legendary

Activity: 1890

Merit: 1000

Landscaping Bitcoin for India!

Quote from: jayguar on December 26, 2013, 12:54:18 AM

What is the best option now to trade btc in India, since buysellbitco.in has temporarily suspended its operations?

Inrbtc.com
Localbitcoins.com

Both tried and tested.

jayguar

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What is the best option now to trade btc in India, since buysellbitco.in has temporarily suspended its operations?

bitcoinisfurture

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Effect has now started taking place as RBI declared it a cautionary thing, as they mentioned that no site is authorized by them.

As a precautionary measure the first site in India for bitcoins (https://buysellbitco.in/) will be down till further notice from RBI.

Well probably will India follow the China route of banning it?

bitcoinisfurture

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Well certainly a cautionary note put by RBI, is a point to think. If there is any wrong doing that take place from Bitcon or a theft of Bitcoins will certainly put the RBI on top and only thing they would be doing will be banning it rather then having some framework or laws to be made which will take a long time in process.

Let us hope for the best.

BTCIndia

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vini, vedi, no vici.

Quote from: Benson Samuel on December 24, 2013, 09:41:35 AM

More publicity is all.

Ah! Government is trying to scare away people interested in VC. Instead, they're creating larger interest. Seems like government doesn't understand human psychology. When you tell people not to do- indirectly you're peeking their interest. Those people, who were skeptic of VC will now read more about it, and will be indulged in quicksand philosophy of VC instantly.

God save my Indian on Christmas!

Benson Samuel

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Landscaping Bitcoin for India!

More publicity is all.

BTCIndia

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vini, vedi, no vici.

I'm anxious to know implications of RBI's warning on virtual currency specially on traders.

Topic: What will be the effect of RBI's warning? (Read 1357 times)