what will happen to bitcoin in india - page 6.

Ranly123

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Quote from: Ambucrypto369 on June 01, 2019, 06:42:43 AM

What will happen to bitcoin in india. whether it is legal or not.

I am not from India but I guess people in India are using Bitcoin (if not all). If you are from India, then you can have knowledge whether it's legal or not but if you are not then it's none of your business.

pushups44

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Quote from: Leh-Meh on June 04, 2019, 07:00:17 AM

Quote from: Ambucrypto369 on June 01, 2019, 06:42:43 AM

What will happen to bitcoin in india. whether it is legal or not.

With all the multi-billion dollars tax evasion going on in India for past 20 years and money going out of India because Indian billionaires have scammed banks, Indian government is terrified of any financial transactions. India is well known for high profile scammers/frauds. Bitcoin's anonymity will ban Bitcoin in India,

Bitcoin is not anonymous; it is pseudonymous. Bitcoin transactions can be tracked on the blockchain and thus pose a risk among criminals of being identified.

India wants to ban cryptos because the authorities in that country fear the abandonment of the rupee.

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IN india bitcoin is not legal tender in India,However, they are not illegal. if it is not a legal tender that means that it may not be accepted for making a financial transaction.in july new updates are may be released by government may be in september.its out

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Quote from: Ambucrypto369 on June 01, 2019, 06:42:43 AM

What will happen to bitcoin in india. whether it is legal or not.

With all the multi-billion dollars tax evasion going on in India for past 20 years and money going out of India because Indian billionaires have scammed banks, Indian government is terrified of any financial transactions. India is well known for high profile scammers/frauds. Bitcoin's anonymity will ban Bitcoin in India,

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Quote from: ajaymukund on June 04, 2019, 01:43:56 AM

Quote from: Ambucrypto369 on June 01, 2019, 06:42:43 AM

What will happen to bitcoin in india. whether it is legal or not.

I think sooner or later, India will also accept bitcoin to get a new industry to help people get more money from the new market. In the near future, the US will not exempt tariffs for products in India anymore. I predict that there will be an economic recession in India if they cannot find a new alternative.

Its a bit complicated for the India government to accept crypto the RBI doesn't really like it and had put a serious banning for the crypto, it might take a while to convince the institution to accept it, but as far as I know the RBI still very strict about the regulation, they don't really care how many people had been saved by bitcoin

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Quote from: ajaymukund on June 04, 2019, 01:43:56 AM

Quote from: Ambucrypto369 on June 01, 2019, 06:42:43 AM

What will happen to bitcoin in india. whether it is legal or not.

I think sooner or later, India will also accept bitcoin to get a new industry to help people get more money from the new market. In the near future, the US will not exempt tariffs for products in India anymore. I predict that there will be an economic recession in India if they cannot find a new alternative.

right, India is a developing country that is heading for developed countries. so it doesn't surprise if bitcoin will shine in that country. they have a lot of human resources, so that if managed properly, it will produce good too

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Quote from: jrrsparkles on June 01, 2019, 08:58:38 AM

Quote from: Ambucrypto369 on June 01, 2019, 06:42:43 AM

What will happen to bitcoin in india. whether it is legal or not.

OP want to wakeup last year's story again?

As far as I know it is not banned in India but Reserve Bank of India restriced all the banks involving crypto related transactions so you may nit use banks for converting but atill can be done by P2P site like localbitcoin.

Well, cryptocurrency was not created for banks to be involved before or for them to even have control over it, and Even if their bank does not support it, so long there are so many ways for them to still transact their business smoothly, and then they are good to go.

Their banks are even funny, when they know the level of Information technology knowledge that virtually all their young citizens have, they should not have even thought of making those unnecessary threats because if there are people that understands the benefits of crypto more, they are Indians. Do you know a part of me believes that SATOSHI is from Indian, because only Indians are quite very crazy when it comes to coding.

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Quote from: Ambucrypto369 on June 01, 2019, 06:42:43 AM

What will happen to bitcoin in india. whether it is legal or not.

I think sooner or later, India will also accept bitcoin to get a new industry to help people get more money from the new market. In the near future, the US will not exempt tariffs for products in India anymore. I predict that there will be an economic recession in India if they cannot find a new alternative.

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India has a vibrant micro economy with small businesses and lots of street merchants that are excluded from the Banking system. Bitcoin with smart phone technology will open up these businesses to global markets and funding, if they can grab the opportunity to apply this technology.

These small businesses cannot afford to spend money on expensive Bank fees and payment equipment like credit card machines, so they need a technology that does not need that and Bitcoin can fill that gap. Wink

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Quote from: Ambucrypto369 on June 01, 2019, 06:42:43 AM

What will happen to bitcoin in india. whether it is legal or not.

The exposure of Indians to cryptocurrency cannot be compared to other parts of the world, I think they have more exposure than other people even if they don’t make as much as investment like other countries like America and UK does.

You know their level of IT knowledge is very high and bitcoin is nothing so new to those that are IT inclined. If you check the population of Indians on this forum too, you will believe with me that you got your answer there that when we talk of massive adoption, it will come from there, but what I do not know is if their government will completely be in agreement with it or not.

Jamjamz30

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As of now, bitcoin and cryptocurrencies are restricted in India. But, up to now there's no final decision for the final decision. It's on the highest court already. Final decesion might be release.on the third quarter this year.

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Quote from: Ambucrypto369 on June 01, 2019, 06:42:43 AM

What will happen to bitcoin in india. whether it is legal or not.

If the government declares it illegal, it wouldn't affect bitcoin at all. as people would still use it as usual. They can deal bitcoin anonymously without letting the government know about it.

magneto

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No one knows exactly what will happen - but the situation right now isn't really looking too bright for bitcoin businesses.

Services like Zebpay has pretty much already expanded to global markets as opposed to focusing on the Indian market, because of the fact that the RBI has been so unsupportive in their policies and restrictions.

Even though bitcoin is technically not outlawed still, the central bank of India is essentially making it clear that they aren't willing to regulate (since talks of regulation keeps getting postponed AFAIK), and that they'd rather drive out bitcoin businesses bit by bit through their draconian restrictions.

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Quote from: shoreno on June 01, 2019, 11:58:34 PM

Quote from: noormcs5 on June 01, 2019, 11:37:57 PM

Quote from: Ambucrypto369 on June 01, 2019, 06:42:43 AM

What will happen to bitcoin in india. whether it is legal or not.

I do not have any latest information on what Indian Government is thinking about legalizing or banning the bitcoins. But one thing is sure that no country can ban the bitcoins and people will find ways to use it no matter what government says about crypto currencies. So the best option for the countries is to make it legal and try to integrate it with the financial system of the country.

I heard that the indian country have declared a crypto ban on india and i think bitcoin is already included with that but i also think that the ban will not last forever because the ban did also happen on other countries but they decided to unban crypto because they also sees the potential of cryptocurrencies that it could help the people and the economy of a country .

A good sign that the government knows the potential of a cryptocurrency to help not just the people but also the other country who likes to support cryptocurrency. Banning Bitcoin won't stop those people from using it since there's a lot of methods to bypass everything on the internet. Although some of it is illegal... but the way people see what Bitcoin is it is different once they know what is it.

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Quote from: Ambucrypto369 on June 01, 2019, 06:42:43 AM

What will happen to bitcoin in india. whether it is legal or not.

i believe its still restricted and the goverments are not support bitcoin payments or anything related the use of bitcoin. I do think what happen in india also happen here indonesia which we could buy bitcoin but any risk will ours to bear. So there is no investors protection in my country and i do think india also the same.

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Quote from: shoreno on June 01, 2019, 11:58:34 PM

Quote from: noormcs5 on June 01, 2019, 11:37:57 PM

Quote from: Ambucrypto369 on June 01, 2019, 06:42:43 AM

What will happen to bitcoin in india. whether it is legal or not.

I do not have any latest information on what Indian Government is thinking about legalizing or banning the bitcoins. But one thing is sure that no country can ban the bitcoins and people will find ways to use it no matter what government says about crypto currencies. So the best option for the countries is to make it legal and try to integrate it with the financial system of the country.

I heard that the indian country have declared a crypto ban on india and i think bitcoin is already included with that but i also think that the ban will not last forever because the ban did also happen on other countries but they decided to unban crypto because they also sees the potential of cryptocurrencies that it could help the people and the economy of a country .

India has good economic potential, I agree with you, that the ban does not always apply. where the government is ready to accept it, I think it will change too, for the prosperity of the people

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There's no ban for Bitcoin in India. Not much regulations as well. But RBI asked all the bank not to associate any kind of bitcoin exchange which can be counted as a thread for the future of Bitcoin in India.

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Quote from: noormcs5 on June 01, 2019, 11:37:57 PM

Quote from: Ambucrypto369 on June 01, 2019, 06:42:43 AM

What will happen to bitcoin in india. whether it is legal or not.

I do not have any latest information on what Indian Government is thinking about legalizing or banning the bitcoins. But one thing is sure that no country can ban the bitcoins and people will find ways to use it no matter what government says about crypto currencies. So the best option for the countries is to make it legal and try to integrate it with the financial system of the country.

I heard that the indian country have declared a crypto ban on india and i think bitcoin is already included with that but i also think that the ban will not last forever because the ban did also happen on other countries but they decided to unban crypto because they also sees the potential of cryptocurrencies that it could help the people and the economy of a country .

noormcs5

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Quote from: Ambucrypto369 on June 01, 2019, 06:42:43 AM

What will happen to bitcoin in india. whether it is legal or not.

I do not have any latest information on what Indian Government is thinking about legalizing or banning the bitcoins. But one thing is sure that no country can ban the bitcoins and people will find ways to use it no matter what government says about crypto currencies. So the best option for the countries is to make it legal and try to integrate it with the financial system of the country.

soyalmomin75

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I hope the new government which is performing the second term of 5years is very much supportive for the digital world.

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