Topic: Will Bitcoin will be declare as legal or not ? - page 14. (Read 7369 times)
AFter some months when All other big country have used the bitcoin as currency and are running perfectly after this only India will start to think of legalizing Bitcoin. Because India never takes first step for any new ideas.
I don't think it would.. Not just for the sake of legalization but its a decentralized cryptocurrency.. Don't u agree??? 
The only way they will declare it legal is if they can track and tax every transaction. That means tying an identity to each bitcoin address. I doubt anyone wants that.
Monkey see monkey do, so in other words, many countries will adopt bitcoin because they see the leaders are making it legal like Japan, even though bitcoin is not the one with many features yet, it has a high price only for been the first, but smart contracts from Rootstock are been developed and this will attract more users...
yes in fact by accepting bitcoin as legal currency by the japan now the other countries may also be thinkin about the legalization of bitcoin. I am sure that very soon they will also take a very positive step about bitcoin and the price of bitcoin will again become skyrocket. may be other countries have already start thinking about the legalization of bitcoin. as their people have already accepted bitcoin. Of course this is a good thing if many countries provide support and give legality to bitcoin.
And it seems that this will have a positive impact on the progress of bitcoin both in terms of popularity and of course will get a stable price.
Monkey see monkey do, so in other words, many countries will adopt bitcoin because they see the leaders are making it legal like Japan, even though bitcoin is not the one with many features yet, it has a high price only for been the first, but smart contracts from Rootstock are been developed and this will attract more users...
yes in fact by accepting bitcoin as legal currency by the japan now the other countries may also be thinkin about the legalization of bitcoin. I am sure that very soon they will also take a very positive step about bitcoin and the price of bitcoin will again become skyrocket. may be other countries have already start thinking about the legalization of bitcoin. as their people have already accepted bitcoin. Of course this is a good thing if many countries provide support and give legality to bitcoin.
And it seems that this will have a positive impact on the progress of bitcoin both in terms of popularity and of course will get a stable price.
Monkey see monkey do, so in other words, many countries will adopt bitcoin because they see the leaders are making it legal like Japan, even though bitcoin is not the one with many features yet, it has a high price only for been the first, but smart contracts from Rootstock are been developed and this will attract more users...
yes in fact by accepting bitcoin as legal currency by the japan now the other countries may also be thinkin about the legalization of bitcoin. I am sure that very soon they will also take a very positive step about bitcoin and the price of bitcoin will again become skyrocket. may be other countries have already start thinking about the legalization of bitcoin. as their people have already accepted bitcoin. sr. member
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Monkey see monkey do, so in other words, many countries will adopt bitcoin because they see the leaders are making it legal like Japan, even though bitcoin is not the one with many features yet, it has a high price only for been the first, but smart contracts from Rootstock are been developed and this will attract more users...
considering what india has done to gold and cash then i don't see a happy ending for bitcoin there on a legal basis. that don't mean it won't thrive off the books but it could be over before it started in a legit sense.
I agree. The fact that Bitcoin is under scrutiny seems to portend bad news. Governments, especially countries without an open economy like India, like control. If they can't control something, the usual knee jerk reaction is to make it illegal.
considering what india has done to gold and cash then i don't see a happy ending for bitcoin there on a legal basis. that don't mean it won't thrive off the books but it could be over before it started in a legit sense.
If the government is against the black money the easier solution is to regulate BTC, because if they ban it, people will continue using Bitcoins and government won't have control over it, regulating can make things easier to manage for the government, what doesn't mean it will be better for ordinary people using Bitcoin for honest purposes.
Yes , totally true , This will be the solution for use .Because at the one side we can't exit from the Bitcoin but also at the second side we have the responsibility to not to violate the law of taxation , so regulation is better option and then we will be able to use Bitcoin legally .
But you know to use Bitcoin legally can be worse, right? You will need to pay higher fees than you pay now to transfer money, and maybe there will be extra fees when buying stuff in your country. You would need to spend more Bitcoins to buy less things, it's not a very good deal, only for the government of course.
Maybe in some countries it is legal but in many bitcoin countries it still has not been said legal or still illegal, but with the development of bitcoin all over the world will legalize bitcoin. 
i think they will not banned bitcoin due to its popularity and growth in international market..its becoming worldwide currency..they just need to ensure that all are ok and no illegal work is going on..
do you think that if they declare it illegal, i wold not use it anyway if i was an indian citizen?
again this is the same old argument, they can't track soemone who is using bitcoin, they will never be able to do so, if i pay for somethign abroad and receive it in india by using bitcoin, there is no way they can know about it
banning bitcoin and make it illegal is just a way to put fear in people, because they fear themselves bitcoin, and want to restrict the usage, but you can still use it without any problems
again this is the same old argument, they can't track soemone who is using bitcoin, they will never be able to do so, if i pay for somethign abroad and receive it in india by using bitcoin, there is no way they can know about it
banning bitcoin and make it illegal is just a way to put fear in people, because they fear themselves bitcoin, and want to restrict the usage, but you can still use it without any problems
We cannot really say because it is the government's call. Nonetheless, I think there is a possibility of it being declared legal because of the apparent inconsistencies of the government that we see. Bitcoin has such a huge impact in the market that it cannot just be eradicated all at once since it exists online without need of any official body to man its operations.
I think not so soon we will get Bitcoin legalized by the India Government as their are so many regulations they have to make it before announcing it as legal currency. And every time India is standing in last to accept the new technology after the whole world experience it after that only they will start to work on it.
I think to make a decision that bitcoin to be legal currency is need too much regulations and I am sure it will take lot of time and there will be consequences after it. The government surely think the main currency in India and also make it stable is most important than bitcoin. So why they could take a hard decision to make it legal?
The best moves that your government can do is netral. I mean the central bank cannot regulate bitcoin, government doesn't take any responsibility for all kinds of losses and people will use it with their own risk.
The best moves that your government can do is netral. I mean the central bank cannot regulate bitcoin, government doesn't take any responsibility for all kinds of losses and people will use it with their own risk.
To me, the concept of bitcoin was to take money out of Government control. But when a government makes bitcoin official currency, there is the likelihood that one day they could want to control it. However, bitcoin circulation is individualistic. There is no central bank for bitcoin so it will be difficult to ban it.
If we look at prospect of bitcoin there is a possibility that someday the government will give legality to bitcoin and participate in it. And if bitcoin is declared legal then bitcoin security will be more assured.
Its up for the government, but if I were to suggest being legal is better, there will be some issues such as using it for illegal dealings but as a countermeasure bitcoin users can easily bring money to their country from another. So it easily helping with their economy just like that.
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