why people look to buy and sell bticoins outside exchanges? - page 2.

Benson Samuel

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Activity: 1890

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Landscaping Bitcoin for India!

Quote from: bitconftw on November 20, 2014, 01:57:37 AM

Quote from: BTCIndia on November 20, 2014, 12:48:43 AM

Black Money. Simple.

this was what I was worried would be the case.is it true? is this why people trade like this outside of exchange?

btw you can still declare income,pay tax even with hard cash, right?how is it black money then?

There is also a factor of fear driving these 'out of exchange' trades - What if the person gets into trouble due to the Governments lack of stance on Bitcoin?

bitconftw

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Activity: 6

Merit: 0

Quote from: polynesia on November 19, 2014, 08:01:47 PM

Quote from: bitconftw on November 19, 2014, 12:57:32 PM

hi

I saw this forum and later the india sub-forum and saw that people are trying to buy/sell bitcoins outside of exchanges.
like people asking for currency recharge, flipkart voucher, buying one-to-one with people, buying selling in local bit coins website, etc. I don't understand why people dont use exchanges for this.
is it not better in the eyes of govt if it is done via exchange?

if wanna start bit coin trading, which is better?exchange or directly to person?
I think the advantage of using exchange is govt will know transactions and it is legal (correct?)?
but disadvantage might be because bit coin is not regulated and it is better to simply deal small amounts out of exchange and such central spots of attention. if we pay tax after buying/selling bit coin outside exchange, it is still legal,correct?

is using local bitcoins website a right way of doing this??

Look at the liquidity and number of transactions done on exchanges in India and you will get your answer.

i don't know where to check. please tell me where.
please also tell me what your finding is from this

bitconftw

newbie

Activity: 6

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Quote from: BTCIndia on November 20, 2014, 12:48:43 AM

Black Money. Simple.

this was what I was worried would be the case.is it true? is this why people trade like this outside of exchange?

btw you can still declare income,pay tax even with hard cash, right?how is it black money then?

BTCIndia

hero member

Activity: 686

Merit: 500

vini, vedi, no vici.

Black Money. Simple.

polynesia

legendary

Activity: 1358

Merit: 1000

Quote from: bitconftw on November 19, 2014, 12:57:32 PM

hi

I saw this forum and later the india sub-forum and saw that people are trying to buy/sell bitcoins outside of exchanges.
like people asking for currency recharge, flipkart voucher, buying one-to-one with people, buying selling in local bit coins website, etc. I don't understand why people dont use exchanges for this.
is it not better in the eyes of govt if it is done via exchange?

if wanna start bit coin trading, which is better?exchange or directly to person?
I think the advantage of using exchange is govt will know transactions and it is legal (correct?)?
but disadvantage might be because bit coin is not regulated and it is better to simply deal small amounts out of exchange and such central spots of attention. if we pay tax after buying/selling bit coin outside exchange, it is still legal,correct?

is using local bitcoins website a right way of doing this??

Look at the liquidity and number of transactions done on exchanges in India and you will get your answer.

stellar69

full member

Activity: 196

Merit: 100

Using bitcoin for daily use like recharges and all makes the bitcoin strong.
I sell bitcoin in person, because I easily get cash for my bitcoins, involving banks for bitcoin transfers can cause you bank account to be seized( see the list of bitcoin hostile banks)

bitconftw

newbie

Activity: 6

Merit: 0

hi

I saw this forum and later the india sub-forum and saw that people are trying to buy/sell bitcoins outside of exchanges.
like people asking for currency recharge, flipkart voucher, buying one-to-one with people, buying selling in local bit coins website, etc. I don't understand why people dont use exchanges for this.
is it not better in the eyes of govt if it is done via exchange?

if wanna start bit coin trading, which is better?exchange or directly to person?
I think the advantage of using exchange is govt will know transactions and it is legal (correct?)?
but disadvantage might be because bit coin is not regulated and it is better to simply deal small amounts out of exchange and such central spots of attention. if we pay tax after buying/selling bit coin outside exchange, it is still legal,correct?

is using local bitcoins website a right way of doing this??

Topic: why people look to buy and sell bticoins outside exchanges? - page 2. (Read 3088 times)