Bitcoin Forum

After the recent developments in the world of cryptocurrencies especially bitcoins in specific we have come to see a drastic change in the mindset of people towards the adoption of cryptocurrencies and the potential it holds. For example a dealership in houston texas is accepting bitcoins as a means of payment for the purchase of Rolls Royce cars and a major store in Japan is accepting bitcoins. But amidst all this what about India what does India have to say about all this ?
Well it seems to me that India might be late to the party but I strongly do believe India will eventually adopt bitcoins and this is more likely to happen if the verdict of the supreme court is in the favour of cryptocurrecnies for which the verdict has been postponed to Setember 17th.
What do you guys feel about this ?

Personally I don't think bitcoin will be legal in india anytime in future because of the international relations which india have almost majority of the countries don't think bitcoin as the most legal way of transactions so since india has been on the safe side for many time so it's gonna do the same play which other countries like china, north korea , russia are playing .

In my opinion nothing is going to happen in India. Its India, dont expect too much. Yes one thing you can expect . That is the  court case will be dragged unnecessary for a long period.

Exactly you are right brother we can't expect too much. I think indian government don't know the bengits of cryptocurrency. Maybe they just want to say it's illegal without research about its benefits.

Legalizing bitcoin is the least of the worries Indian government has. The section of populace involved is also not going to be the activist type. I think cryptocurrencies and bitcoin would go down the way most tabooed subjects go. They have no legal definition or acceptance but they aren't illegal either.

The oldest profession is also defined in similar ambiguous terms in India. Prostitution, per se is not a crime but "pimping" certainly is. So all you people selling your own time and services (bodies) amongst each other in crypto will not have any problem.
But the organizers, companies that aim to profit from crytpo (Like the pimps; Sorry for the brutal analogy..) will most certainly not be able to do so.

You are right brother what you mentioned points in your posts that will show how world going see bitcoin as a positive and the blockchain Technology adaptation but India have to learn from them how to used blockchain Technology or any advance technology countries like USA China Japan and more countries are adopting the technology very beginning.

Till GOI takes a decision its difficult to say what will happen. Court cases generally take a lot of time.  Follow this news to get more information on court case.

https://news.bitcoin.com/rbi-ban-hearing-delayed-indian-supreme-court-crypto/

I suppose, this link has old news. Anyone has an idea when is the next hearing scheduled in Supreme Court?

agreed dont expect anything here.... and btc will not be legal here .. may be after 5 or 10 yrs we can see anything but for now nothing will happen here.

May not be in next one decade.

Absolutely it will take minimum one decade to to bring some regulations or legalize.Something which cannot be controlled or which does not have physical identity is hard to control.Moreover government will never give financial freedom to its mass.There are pros and cons to everything so seeing the current scenario it will only be lingering and adjournment everyday.We all are aware of how much un-accounted money had been present in the past and still now so until and unless every tiny bit of those had been put to some purpose it will go on and on.The only thing I am missing is that mining operations are now-a days not much profitable but soon we will find some way or the other for nice trading,just like good old times.
happy trading all.Enjoy crypto market.

This is the big problem in India because India always take time to adapting any new technology compared to other countries. Because of Indian political but surely Indian government will be adapt blockchain Technology and other Crypto currency also.