I honestly have very less hope that bitcoins will last or 10 years as it's not regulated till date and not legalized in my country as well. It's not about the price dropping but the recognition of bitcoins is what matters. As of now, bitcoins may last for another year or two and the price may reach $100.

Can truly understand and I myself want to make it a recognized currency. It hurts when I think I am using a currency which is not legalized by RBI and anytime it can get bitcoin users in trouble. When I check the RBI facts of not accepting bitcoins, those facts are right in their own way but when I am doing nothing wrong with bitcoins and earn bitcoins from small jobs and campaigns, I feel bad about it.

Hmm...That was a misunderstanding of mine but still the fact lies that bitcoins aren't accepted or recognized by RBI. I changed my statement in that thread.

Ok then I change my statement. Bitcoin is not legally recognized by the RBI. I hope that's fine.

I have myself read that bitcoins are not legalized (not recognized) by the RBI then why can't I say that on this forum? Should I blindly accept that bitcoins is legal when it's not. I too trade in bitcoins but sooner or later I'll stop if the currency is considered unauthorized by the RBI.


I'm shocked when people start accusing me for stating the truth. We should all work together and try to make this currency legal and recognized so that reputed banks too accept this currency as they accept USD, EURO and so on. But well, I guess nobody is interested in doing so. 

http://www.mondaq.com/india/x/310426/Financial+Services/Bitcoins+Legal+Or+Illegal+In+India

What? If I understand what he asked is that he wants to start a bitcoin ATM in India? Now when trading in bitcoins is considered illegal and The Times of India stated that some time back, what should I clarify about that?

Not interested in arguing and I am sure what I read and said here is true. It may be a warning or a caution but well, RBI does not recognize it. It's as simple as it may sound:

******************

At present, there are no regulations governing virtual currencies like bitcoins in India. RBI, on December 24, 2013, issued a press release on virtual currencies like bitcoins, litecoins, bbqcoins, dogecoins stating that creation, trade and usage of virtual currencies as a medium for payment is not authorized by any central bank or monetary authority. Further, RBI has cautioned virtual currency traders and users to various security related risks such as hacking, malware attack etc. While RBI has not legalized bitcoins, it has declared them unauthorized as of now. RBI is currently examining the risks associated with the usage, holding and trading of virtual currencies under the extant legal and regulatory framework of India, including foreign exchange and payment systems laws and regulations.

******************

When the currency isn't even recognized by RBI, how can ATMs be allowed. I am not sure if he is talking about an exchange website or a physical ATM. I don't know why when I state that bitcoin trading isn't legalized, people start pouncing on me but the only thing I care about is the law.

You can still leave negative trust if you find a scammer and the members who want to trust your trust rating will do. It does not matter if you are/not in the default trust list.

I dint get you. Burning them alive or stoning them to death is a decent punishment but I am not aware of the law in that girl's country. The criminals usually don't get a death sentence for rape.

I don't get what is a PM campaign? I don't send many PMs and I can see the bit-x signature when I send PMs.

Same here. But I find this a common thing that whenever a rape, murder or terrorist case comes in front, people start finding the reason behind it and start debating on the religion/country/state of mind of the criminal rather than discussing the punishment for the criminal.

I am an Indian and have read it in the newspapers and bitcoins are considered illegal.

On 24 December 2013, the Reserve Bank of India issued an advisory to the Indian public not to indulge in buying or selling of virtual currencies, including bitcoin.[76][77] Following the announcement Bitcoin operators in the country began suspending operations.[78]



Source: http://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country

And well, I guess I have a right to comment. 

It's not recommended to buy a lot of bitcoins at $200 as it's going to further reduce (most probably) and the buyer will be in a huge loss. One can hold bitcoins now instead of buying more bitcoins.

It's just being pessimistic. I know and agree that the price of bitcoin is decreasing but it won't reach $100 at least for 3-4 months. It has just decreased by $30 in the past 3 months which is not such a huge decrease.

I don't think it's a good idea as this would prevent new users who don't know any member from this forum from joining this forum. Instead of this, account farming shouldn't be allowed as I don't get what's the use of having more than one account unless your one account is banned for few days and one needs to appeal or members are able to sell their alt accounts.

Igot is not a scam website but there are many complaints about their customer support and delay in withdrawals. The other scam accusations against this site were mostly resolved but they have a pathetic customer service. You will need to keep contacting their support department to get a valid response.

I don't think about what you mean by Karl Lentz. I live in India where the police usually take law in their own hands and to get them suspended as well is tough. It is 1% of the cases they are sued and 99% they don't get sued. If there is an insurance wherein they need to compensate for the loss of the innocent, this percentage can increase else it's almost impossible to control their immoral behavior.

Thanks for the payment

Gambling is not a job while there have been very few reliable exchange websites that have been created while the rest have disappeared. Some people have also managed to earn bitcoins and consider it as a part time job while programming, editing and so on.

Payza used to not charge any receiving fee until mid 2014 when the terms were changed. I had a Starter account which was verified I guess and hence I wasn't charged fee earlier in 2012-13.

I agree that scammers should be banned but why scam accusers? You mean to say that those who accuse others as scammers based on an assumption? For me, it's better that those users be removed from the default trust.

People who trust spam are banned now.