Bitcoin Forum

Hello Friends,

What if bitcoin was legal in India?

12% of world's bitcoin hashing power is in Kazakistan - that could had been in India. Imagine the kind of investments in Solar or Hydro had happened in India to keep those mining hardware running. The jobs it had created, the taxes the government could have collected, the money the poor Indians had earned.

Nearly a Billion dollar of investment has been done in a single round of purchase of Asics equipment in the USA. That could had been in India.

Let us trend this hashtag - #IfBitCoinWasLegalInIndia (https://twitter.com/hashtag/IfBitCoinWasLegalInIndia)

What else can happen in India if Crypto and Bitcoin was made Legal. Not legal tender - just legal so that people can operate various crypto projects legally and pay tax on them - and keep it clean.

The first one has been done for you - The Great Indian BitCoin Reserve (https://guestcrew.com/status/statistics/1061de98b6e9c03)

Please add your own, and tweet it out so that it trends,
thanks,
Uttoran Sen

If bitcoin was legal in India, the next Binance could have grown from India. If bitcoin was legal in India, we could have seen a multi billion dollar crypto ecosystem growing in India to the world. Many things could have been possible!

But what have we got!!!!

Zebpay left India to start business in Singapore. GST raids on all crypto exchanges of India, parliament debate whether bitcoin can be classified as ponzi or not!

Frankly, I never wanted the government to take notice on crypto market because government always ruined new businesses that are beyond their brain capacity!

I think if bitcoin was legal in India, the startup industry which already is booming would have been performing even better, there would have been hundreds of new startups that would come in. India wouldn't only have been a market and outsourcing center of the crypto exchanges instead it would have been the main powerhouse. I think still it's not too late, if india wants to see itself as a developed nation 10 years down the line I think it should think of legalizing bitcoin in India and regulating it, this would open ample opportunities in this space.

If only If!!

To be Frank we need to live in the present and improve the future. Indian government is still thinking about regulation, the bill was supposed to be presented in the winter session of the parliament now with current pandemic situation and upcoming elections plus the budget session of parliament I think that bill will again get delayed. To be Frank the more it gets delayed the more happier I am. But, we all know it will get presented this year only in one of the session of parliament. Things might get much better than the present condition or might not we need to wait for it.

Hello BTT family,
What if bitcoin was legal in India?
When there is talk of cryptocurrency, how bitcoin can be excluded from the discussion. Right? As bitcoin has shown the entire world of investment that cryptocurrency can give high value return on investment. The highest ROI given by bitcoin in last 10 years than anyother project.
So if bitcoin becomes legal in India it could benefit everyone in the country like firstly the government. Government can make it legal or regularise so that it can earn from the tax which can help in economic growth and development of the country. Moreover India which in last 6 years has encouraged online transactions through UPI payments want to make aware of online transactions and which has been a great success. As government encourages online transactions next could be cryptocurrency. As I think so let's see. What you think about it?
Secondly India which has so much potential young youths in every field and sees opportunities in new sectors for growth. Bitcoin launching could provide a great opportunity for these young youths for there personal and financial growths.
Third is mining of bitcoin on a large scale should be encouraged with the help of renewable energy sources like wind, solar, hydro. This type of mining could increase in rise of new mining companies and which in return would provide good job opportunities.
This type of mining could control pollution also thus not harming our environment and this is good news for every one
So more jobs, new online transactions in form of cryptocurrency/ bitcoin, new companies, less pollution. Isn't this futuristic?
That's why I believe Bitcoin/cryptocurrency is future of our world.
Indian government do it fast don't be late on this.
Thanks guys for reading my views.
Was it good? I'm open to feedbacks  and discussion.

After the pandemic companies are starting to welcome India for manufacturing their products and host their services.
Although not full fledged but make in India is giving rise to potential businesses and startups in India.
So if bitcoin/crypto was legal in India then we can only imagine the possibilities of various tech startups getting emerged in India.
Various job opportunities, ease of payments, transfers, new tech and what not. There are no limitations.
India might have become a gateway to mainstream adoption of crypto. It would have paved way for wider adoption as other countries would have followed the suit.

Definitely you are right.. but the government is against unregulated currency. its not against the blockchain technology.. i have seen some examples presently airtel  customer support backend has been designed by IBM on blockchain 

The other benefit which would come to India is the investment from the whole world to India in the form of their businesses. Suppose a country ban crypto then all of crypto businesses would come to India. Like after china ban binance would come to india and all of the profit will benefit india. They are earning a lot and their tax can make the whole country a rich country.

We all know India is currently viral towards crypto, although there are negative issues that have sprung up from certain circles, you see the banners on the street, why isn't anyone removing them, because now the upper class castes understand crypto, we'll see in the future India will legalize crypto for the largest investment asset.

If bitcoin was legal in India. There would have been an outburst of crypto investment, which would have increased the price of bitcoin more. Bitcoin would have gotten to her ATH by now. You and I would have traded bitcoin comfortably by meeting our needs easily. Imagine the kind of financial settlement it will give to Indians that don't have a job.