Not to scare anyone but as a member I wanna caution people dealing in cash for buying/selling of bitcoins. Also, the one who are providing services or selling goods needs to consider certain parameters which falls upon the legal line of law.
One benchmark you could always use for tax aspects is - how would it work if I replace bitcoin with gold in the question. Is it legal to buy gold with cash? - The answer is yes, |
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Reinforces the fact that you should not use exchanges for storing bitcoins.
Send bitcoins to the exchange just before you sell them and withdraw immediately after you buy.
If you get goxed in the interim period, you are unlucky.
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I may not get into something unless it is well settled. This is mainly due to the issues regarding failure  The market in India may not be mature enough to support altcoins. I agree with Benson on this. |
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All I get is a feeling of deja vu.
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I didn't see this, someone should advertise Bitcoin between "Comedy Nights with Kapil" And whole India will see it. This was a short feature on Bitcoin ads... |
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As usual, somebody will go to court and get this nonsense kicked out.
I was under the impression that an overruling will be alright, but its not. Brand Damage has been done. For the next several years, people will talk about how India shut down some crap. Every newspaper in Jamaica will carry India as an example if this were to happen in their country. Next, Egypt will censor some more and some press in East Burma will print an article saying 'Just Like India'. We have given birth to the 21st century stereotype with this move. Check my twitter timeline during this event, you will see a comment from someone about what i mentioned above. A show of power maybe? I mean, github?? really?? lol. That one sucked for me. 95% of the Indian IT industry relies on github.. True. We snigger when youtube is blocked in Pakistan and then this happens in our own country. The only time I felt more despair was when Arindam Chaudhary managed to get UGC's website blocked.  |
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As usual, somebody will go to court and get this nonsense kicked out.
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Enrolling
Bitcoin address: 1Gf7ZWe4UXG9nNpsh5c4qpLoCSULA4VFSU
Starting posts: 767
Forum Rank at time of entry: Full Member (Will finish as a senior)
Movie: The Legend of Bitstarz
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I didn't know that governor knew about bitcoins.
I had a small conversation with K C Misra in 2013 who is now retired as the general manager of RBI. So rest assured, it is undoubtedly clear that RBI officials at high levels are well aware of Bitcoins and its usage in India. Oh no, are they tracking me?  I wonder if they are looking at individuals and tracking their assets. I haven't put any cash into it yet partly to stay away till it gets on a sound legal footing. No concerns until the IT department gets involved. Right now, it is only the RBI.... |
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Thanks! I confirm that the loan has been repaid. ndnhc, you may lock this thread. |
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Geek's gold
Bitcoin's defects will hasten its demise in 2015http://www.business-standard.com/article/opinion/geek-s-gold-114122800735_1.html
Bitcoin's defects will hasten its demise in 2015. The leading crypto-currency's economies of scale in mining and its transaction system's vulnerability to subversion by a dominant miner make it unsound. As seignorage declines it will become cost-uncompetitive for transactions. These flaws will cause its price to lose further altitude. |
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Both open for me. Some cache issue? Strange. It seems to be a problem at my end. Will try and figure it out. I am unable to open even https://github.com/Tried googling it and then clicking on a link - doesn't work as well. I tried one of those links a couple of days back and it didn't open at that time also. Could it have been cos of this? http://www.medianama.com/2014/12/223-india-blocks-imgur/I am not sure. When I try https://github.com/, I get an "Unable to connect" error. When I try http://github.com/, I get "This site has been blocked as per the instructions of Competent Authority ". |
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Confirmed. Oh you made it to the first one. No problem though. Thanks. |
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ndnhc,
I noticed a confirmation (without specifying change of address) earlier.
That post seems to have been deleted, with a new one specifying changed address coming up.
Since the bitcoins have already been transferred, please confirm that everything is in order.
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Amount : 0.1BTC
Collateral :none
Purpose of loan : Financing trades
Interest : 2% a day.
Repayment : in 5 days. (max)
Don't forget to remind me.
Address: 1JPxSv7bP2UzLKGtzUjEdtk3nWWtP8oGeo
If you increase your interest, I will lend you 10% interest for the full period is big enough for me. Can't raise it anymore. I can do it. Please confirm. |
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You do have to take into account the fact that they have been running a successful campaign for the last few months. Too early to be worrying. |
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