Title: Indirectly bitcoin is not illegal in india,i think. Post by: mynameisdon on April 28, 2016, 04:10:08 AM Why is govt. Silent on bitcoin? Haven't they heard about it before? Or they are ignoring it? If govt. Thinks bitcoin is illegal in India, then they would have taken any action already. Or maybe they are waiting for the bell to ring?
what's your opinion? Title: Re: Indirectly bitcoin is not illegal in india,i think. Post by: IIIIIHIIIII on April 28, 2016, 04:39:54 AM They are not silent on Bitcoin. They have talked about it in past in what we can say a positive way. However law stuff surrounding Bitcoin is not clear yet. Its not illegal though so its legal ;D
Title: Re: Indirectly bitcoin is not illegal in india,i think. Post by: btvGainer on April 28, 2016, 09:57:58 PM Why is govt. Silent on bitcoin? Haven't they heard about it before? Or they are ignoring it? If govt. Thinks bitcoin is illegal in India, then they would have taken any action already. Or maybe they are waiting for the bell to ring? Reserve Bank of India has made it clear that they have no plan to regulate bitcoin but they haven't declared it illegal either.Rbi governor has on one occasion appreciated blockchain http://www.timesofindia.com/tech/tech-news/Tech-behind-bitcoin-can-help-checkcounterfeiting-RBI/articleshow/50329014.cms Hope more positive vibes will come out and bitcoin will be given recognitionwhat's your opinion? Title: Re: Indirectly bitcoin is not illegal in india,i think. Post by: bitcoinisfurture on April 29, 2016, 05:16:51 AM I think policy makers are trying to understand how much can it be useful and its sustainability and stability in the future. In short term they can't decide and then take a u-turn suddenly if they are not comfortable. Also due to misuse of bitcoin is also one of the biggest factor that they will be worrying about.
Title: Re: Indirectly bitcoin is not illegal in india,i think. Post by: btvGainer on April 29, 2016, 11:10:15 AM I think policy makers are trying to understand how much can it be useful and its sustainability and stability in the future. In short term they can't decide and then take a u-turn suddenly if they are not comfortable. Also due to misuse of bitcoin is also one of the biggest factor that they will be worrying about. Given the Indian politicians attitude,I can assure you we would be the last nation to regulate bitcoin.Bitcoin is a currency and like fiat it can be used for good or bad purpose.It doesn't make bitcoin bad itself Title: Re: Indirectly bitcoin is not illegal in india,i think. Post by: dashingriddler on April 30, 2016, 03:51:04 AM I think policy makers are trying to understand how much can it be useful and its sustainability and stability in the future. In short term they can't decide and then take a u-turn suddenly if they are not comfortable. Also due to misuse of bitcoin is also one of the biggest factor that they will be worrying about. Given the Indian politicians attitude,I can assure you we would be the last nation to regulate bitcoin.Bitcoin is a currency and like fiat it can be used for good or bad purpose.It doesn't make bitcoin bad itself Title: Re: Indirectly bitcoin is not illegal in india,i think. Post by: Pkzone on April 30, 2016, 10:54:49 AM Bitcoin is decentralized and it doesn't need the crackdowns of government to destroy the entire usage of Bitcoin in India.
However, government can regulate the protocol and you might need to get around this using techniques like Tor or I2P. Bitcoin is NOT fungible and is trackable which also gives that a second con. It's all a public ledger, if you don't shuffle the coins (AKA: Tumble) a government blockchain analyze can track you down easily. Title: Re: Indirectly bitcoin is not illegal in india,i think. Post by: btvGainer on April 30, 2016, 10:17:07 PM Bitcoin is decentralized and it doesn't need the crackdowns of government to destroy the entire usage of Bitcoin in India. Is it really easy to find out someone by bitcoin analyzing?I think it is not and unless it involves huge amount,no government will care to crack it.The real problem will come when bitcoin is converted into fiat.It can then be tracedHowever, government can regulate the protocol and you might need to get around this using techniques like Tor or I2P. Bitcoin is fungible and trackable which also gives that a second con. It's all a public ledger, if you don't shuffle the coins (AKA: Tumble) a government blockchain analyze can track you down easily. Title: Re: Indirectly bitcoin is not illegal in india,i think. Post by: Pkzone on May 01, 2016, 05:42:15 AM Bitcoin is decentralized and it doesn't need the crackdowns of government to destroy the entire usage of Bitcoin in India. Is it really easy to find out someone by bitcoin analyzing?I think it is not and unless it involves huge amount,no government will care to crack it.The real problem will come when bitcoin is converted into fiat.It can then be tracedHowever, government can regulate the protocol and you might need to get around this using techniques like Tor or I2P. Bitcoin is fungible and trackable which also gives that a second con. It's all a public ledger, if you don't shuffle the coins (AKA: Tumble) a government blockchain analyze can track you down easily. I can make a algorithm in 5 hours that can track the source (miner) to the fiat converter easily. Title: Re: Indirectly bitcoin is not illegal in india,i think. Post by: polynesia on May 03, 2016, 12:51:59 AM I think policy makers are trying to understand how much can it be useful and its sustainability and stability in the future. In short term they can't decide and then take a u-turn suddenly if they are not comfortable. Also due to misuse of bitcoin is also one of the biggest factor that they will be worrying about. Given the Indian politicians attitude,I can assure you we would be the last nation to regulate bitcoin.Bitcoin is a currency and like fiat it can be used for good or bad purpose.It doesn't make bitcoin bad itself If politicians see the benefits of bitcoin, they will just let it stay unregulated. Bribe taking will move from cash to bitcoins. ;) Title: Re: Indirectly bitcoin is not illegal in india,i think. Post by: btvGainer on May 04, 2016, 09:59:39 AM Bitcoin is decentralized and it doesn't need the crackdowns of government to destroy the entire usage of Bitcoin in India. Is it really easy to find out someone by bitcoin analyzing?I think it is not and unless it involves huge amount,no government will care to crack it.The real problem will come when bitcoin is converted into fiat.It can then be tracedHowever, government can regulate the protocol and you might need to get around this using techniques like Tor or I2P. Bitcoin is fungible and trackable which also gives that a second con. It's all a public ledger, if you don't shuffle the coins (AKA: Tumble) a government blockchain analyze can track you down easily. I can make a algorithm in 5 hours that can track the source (miner) to the fiat converter easily. What if someone uses mixer,will it still be that easy? Title: Re: Indirectly bitcoin is not illegal in india,i think. Post by: cryptoheadd on May 04, 2016, 10:25:31 AM I think policy makers are trying to understand how much can it be useful and its sustainability and stability in the future. In short term they can't decide and then take a u-turn suddenly if they are not comfortable. Also due to misuse of bitcoin is also one of the biggest factor that they will be worrying about. Given the Indian politicians attitude,I can assure you we would be the last nation to regulate bitcoin.Bitcoin is a currency and like fiat it can be used for good or bad purpose.It doesn't make bitcoin bad itself If politicians see the benefits of bitcoin, they will just let it stay unregulated. Bribe taking will move from cash to bitcoins. ;) True. But then, eventually, this would be the reason for regulation or maybe even banning of Bitcoin. ;D Title: Re: Indirectly bitcoin is not illegal in india,i think. Post by: Pkzone on May 05, 2016, 09:10:09 AM Bitcoin is decentralized and it doesn't need the crackdowns of government to destroy the entire usage of Bitcoin in India. Is it really easy to find out someone by bitcoin analyzing?I think it is not and unless it involves huge amount,no government will care to crack it.The real problem will come when bitcoin is converted into fiat.It can then be tracedHowever, government can regulate the protocol and you might need to get around this using techniques like Tor or I2P. Bitcoin is fungible and trackable which also gives that a second con. It's all a public ledger, if you don't shuffle the coins (AKA: Tumble) a government blockchain analyze can track you down easily. I can make a algorithm in 5 hours that can track the source (miner) to the fiat converter easily. What if someone uses mixer,will it still be that easy? I usually due to paranoia mix my coins using Joinmarket for about.... 32 times.. If they use mixer and not not-so-well-known-algorithms-used-by-mixers, you should use a application like Joinmarket to safeguard your pseudonymity. Title: Re: Indirectly bitcoin is not illegal in india,i think. Post by: btvGainer on May 05, 2016, 09:50:46 PM Bitcoin is decentralized and it doesn't need the crackdowns of government to destroy the entire usage of Bitcoin in India. Is it really easy to find out someone by bitcoin analyzing?I think it is not and unless it involves huge amount,no government will care to crack it.The real problem will come when bitcoin is converted into fiat.It can then be tracedHowever, government can regulate the protocol and you might need to get around this using techniques like Tor or I2P. Bitcoin is fungible and trackable which also gives that a second con. It's all a public ledger, if you don't shuffle the coins (AKA: Tumble) a government blockchain analyze can track you down easily. I can make a algorithm in 5 hours that can track the source (miner) to the fiat converter easily. What if someone uses mixer,will it still be that easy? I usually due to paranoia mix my coins using Joinmarket for about.... 32 times.. If they use mixer and not not-so-well-known-algorithms-used-by-mixers, you should use a application like Joinmarket to safeguard your pseudonymity. Title: Re: Indirectly bitcoin is not illegal in india,i think. Post by: mynameisdon on May 06, 2016, 04:05:12 PM Bitcoin is decentralized and it doesn't need the crackdowns of government to destroy the entire usage of Bitcoin in India. Is it really easy to find out someone by bitcoin analyzing?I think it is not and unless it involves huge amount,no government will care to crack it.The real problem will come when bitcoin is converted into fiat.It can then be tracedHowever, government can regulate the protocol and you might need to get around this using techniques like Tor or I2P. Bitcoin is fungible and trackable which also gives that a second con. It's all a public ledger, if you don't shuffle the coins (AKA: Tumble) a government blockchain analyze can track you down easily. I can make a algorithm in 5 hours that can track the source (miner) to the fiat converter easily. What if someone uses mixer,will it still be that easy? I usually due to paranoia mix my coins using Joinmarket for about.... 32 times.. If they use mixer and not not-so-well-known-algorithms-used-by-mixers, you should use a application like Joinmarket to safeguard your pseudonymity. Title: Re: Indirectly bitcoin is not illegal in india,i think. Post by: btvGainer on May 06, 2016, 09:58:45 PM Bitcoin is decentralized and it doesn't need the crackdowns of government to destroy the entire usage of Bitcoin in India. Is it really easy to find out someone by bitcoin analyzing?I think it is not and unless it involves huge amount,no government will care to crack it.The real problem will come when bitcoin is converted into fiat.It can then be tracedHowever, government can regulate the protocol and you might need to get around this using techniques like Tor or I2P. Bitcoin is fungible and trackable which also gives that a second con. It's all a public ledger, if you don't shuffle the coins (AKA: Tumble) a government blockchain analyze can track you down easily. I can make a algorithm in 5 hours that can track the source (miner) to the fiat converter easily. What if someone uses mixer,will it still be that easy? I usually due to paranoia mix my coins using Joinmarket for about.... 32 times.. If they use mixer and not not-so-well-known-algorithms-used-by-mixers, you should use a application like Joinmarket to safeguard your pseudonymity. "... When mixing bitcoins, you send your money to an anonymous service and, if they are well-intentioned, they will send you someone else's tainted coins. So, now, whatever those coins were used for may now be traceable back to you..." Read the whole article here https://en.bitcoin.it/wiki/Mixing_service Title: Re: Indirectly bitcoin is not illegal in india,i think. Post by: Pkzone on May 07, 2016, 10:59:36 AM Bitcoin is decentralized and it doesn't need the crackdowns of government to destroy the entire usage of Bitcoin in India. Is it really easy to find out someone by bitcoin analyzing?I think it is not and unless it involves huge amount,no government will care to crack it.The real problem will come when bitcoin is converted into fiat.It can then be tracedHowever, government can regulate the protocol and you might need to get around this using techniques like Tor or I2P. Bitcoin is fungible and trackable which also gives that a second con. It's all a public ledger, if you don't shuffle the coins (AKA: Tumble) a government blockchain analyze can track you down easily. I can make a algorithm in 5 hours that can track the source (miner) to the fiat converter easily. What if someone uses mixer,will it still be that easy? I usually due to paranoia mix my coins using Joinmarket for about.... 32 times.. If they use mixer and not not-so-well-known-algorithms-used-by-mixers, you should use a application like Joinmarket to safeguard your pseudonymity. Bitcoin is decentralized and it doesn't need the crackdowns of government to destroy the entire usage of Bitcoin in India. Is it really easy to find out someone by bitcoin analyzing?I think it is not and unless it involves huge amount,no government will care to crack it.The real problem will come when bitcoin is converted into fiat.It can then be tracedHowever, government can regulate the protocol and you might need to get around this using techniques like Tor or I2P. Bitcoin is fungible and trackable which also gives that a second con. It's all a public ledger, if you don't shuffle the coins (AKA: Tumble) a government blockchain analyze can track you down easily. I can make a algorithm in 5 hours that can track the source (miner) to the fiat converter easily. What if someone uses mixer,will it still be that easy? I usually due to paranoia mix my coins using Joinmarket for about.... 32 times.. If they use mixer and not not-so-well-known-algorithms-used-by-mixers, you should use a application like Joinmarket to safeguard your pseudonymity. "... When mixing bitcoins, you send your money to an anonymous service and, if they are well-intentioned, they will send you someone else's tainted coins. So, now, whatever those coins were used for may now be traceable back to you..." Read the whole article here https://en.bitcoin.it/wiki/Mixing_service If you don't want to trust a mixing service, use JOINMARKET instead! |