You make once of the  most epic typo and place holder mistakes, firstly this  BAI is not yet formed. secondly it is formed by businesses that have in the past shown an interest towards maximizing profits and very little community spirit. you tried to push bitcoin into the limelight to fast to soon. then decided to get a bitcoin idiotic investment conference. with many of your  members over inflating figures.

Why am i not trusting that your association would be for the benefit of the people? Its because you have not  shown a lot of ethical behavior, let me start by pointing out the conference, you decided that the first conference in India. Where, give a take a few thousand people ever used Bitcoins, would require a conference to be head in a hotel and charge an entry fee more expensive that a three course lobster meal in a three star Michelin restaurants, that made it look like bitcoin businesses in india we the next bit IT thing.  

Then came the over bloated figures 30,0000. Some where in the conference someone said that there was over 5,00,000/- btc in india (should have just said over 9000! jk).  
and then the press picked up saying there are about 50 establishment in india accepting bitcoins i can count about only 10 services and goods businesses in india right now doing active btc transactions.

Then as soon as the conference happened the ED had to raid Mahin, Coincidence much.

Ok i bet this is how the RBI must have thought, they cam to the conference took down numbers and did a calculation of their owe. take BTC500,000
multiply by the rate of $900 that gives them a value of $450,000,000
now lets multiply that by let say the exchange rate lets give it  Rs 60 which is Rs 27,00,00,00,000/-,  
Now lets look at the number of people 30,000, which gives them an average of Rs 9,00,000/- worth of btc they hold. Next they took a look at businesses that accepted bitcoin 50 establishments they must have thought lets find these 50  businesses, but they can find it.
So now they start to think, 'there is so much money' , 'we dont know  who holds these bitcoin, we dont know who are these 50 establishments providing btc service in india'. then what is the money being used for.

Obvious answer would be money laundering and criminal activity. Bling !!! what did you think people  holding  such  huge assets and no place to spend it, would they have been said " Wow amazing  you guys are  rich and  getting richer day by day let  have more people enter this system where  there are no  services to spend your bitcoin on."

Next you decided to put the figures to 8% which was like BTC960,000/- (I'm not even going to bother  with this calculation).

Then you decided to launch your exchange (Which was a good move, i supported it), however the first problem was you decided to uses someone elses name to boost your business(Justifications here wont work), you could  have  used any thing to have that placeholder.

Next came the association, which was a piece of work. using  whatsapp to get members in a hastily thought up plan. decided to call your  self an association without any registration done before hand. and announce to the the world that this group of people  that was formed would make up the association. i still remember reading the chat where in you all were scrambling to  find members  asking people  to  join in. But to  what no one had an idea on its direction, just that ED has done a raid and no one knew what to  do.  

then you go have a lawyer  say what you want and now pay that lawyer 10 lakhs, for 10 lakhs a chicken will give birth to a duck.

Next you start charging your users for a BAI donation and and make it mandatory. Only after  people  said, that is wrong you decided to not charge the donation. and still you  have some type of fee(I dont knkow  much about your  fee structure).

You are using the Old School Indian Business practices. " Trample over your customer, because i am the only player and i do what ever i want."

Oh and the typo " NDA also wants to help BAI to write the regulations for virtual currencies in India " = RBI i dont  buy it.

Oh and did i read some place that you only got involved in bitcoin around may 2013 when the prices hit the roof and made headlines. Did that shock your  head as a potential money making scheme ?

And what happened to your  mining shares you had started?

Looking at all these things it shows how  unethically you are running your  business and if you are any going to be good for the bitcoin ecosystem in India.

Yeh! BAI has a purpose of only safeguarding the Business interest, and is not even suppose to be  mentioned on your website, just because the Foundation did that on Gox you should not  do that, look  at gox it is declining  day by day. greed does not  play any role in a decentralize system.  

Just look at the shear number of massive fuckups made in the course of  a year. does not  take a rocket scientist to come to a conclusion that some one is doing  some thing wrong.

oh!
Yeh its a pity, ckz..... NO ONE KNOW HOW SPENT HOW MUCH IN YOUR  BOYS CLUB AND ON WHAT THINGS! JUST STATING  THAT YOU SPENT MONEY DOES NOT PROVE ANY THING. PUTTING MONEY INTO YOUR ASSOCIATION DOES NOT SIGNIFY THAT YOU ARE DOING THIS FOR THE BENEFIT OF ANY ONE ELSE . IT SHOWS YOU HAVE INVESTED YOU OWN MONEY INTO SOME THING TO GET A VESTED BENEFIT OUT OF IT. IF YOU WANT THE  COMMUNITY TO SUPPORT YOU YOU SHOULD HAVE BEEN MORE TRANSPARENT ON WHAT YOUR CLUB WAS  DOING, AND NOT  ANNOUNCE IT IN THE TIME YOU ARE BEING QUESTIONED BY PEOPLE.


I AM NOW  CALLING UNOCOIN AND THE  BAI A HARMFUL ENTERPRISE. AND WOULD ADVISE USERS TO  USE  ANY OTHER ALTERNATIVE SERVICE.  

No Scrypt is the hashing algo used on altcoins.  diferent alt coins may use different hashing algo.

Litecoin , feathercoin and Dogecoin uses scrypt .

Bitcoin uses sha256

Doge


Such charity

Very good

many thanks

much gratefully

Wow
 
 

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wow                                         so doge

For those who struggle with cryptography. https://bitcointalk.org/index.php?topic=246307.0

Firstly i would like to tell you, you are working on a trust based system. you are trying to operate like a traditional business (no problem in that) . However you are not a vanguard of Bitcoin in India. This membership club you created does not adhear to what bitcoin is about.  Who are you to contract some one to write regulation's to bitcoin. This looks like a precursor to a monopoly on the bitcoin market.

I will be the first to call this a False shell, and will rally the community to denounce the association in public and discredit you attempt to bring in regulations that benefit you.

This is a decentralized system your association is a investors support group. Do not be in a illusion that you speak on behalf of the community. 

BAI has never actively participated in any thing worthwhile to the community besides looking to their own gains.

Your very attempt to raise 10lakhs from your customers to benefit you shows how unethical you run your  business. before you even have a Association you started to take money on its behalf.

I dont think you are a good thing to the bitcoin economy in india, and is going to end up hurting it more.

Dont want to join your association and dont think you are  doing  any good.

If i am correct your BAI is not yet registered.  In fact i am wondering how you could Announce this without any registration. To take donation in its name, is what's wrong.  If i am correct, you are taking this amount before registration, then this really shows how unethical you run your business and money focused it is.  Tell me i am wrong .

Meetup on the 1st of Feb http://www.meetup.com/Bitcoin-in-Delhi/

that number should be  divided by 10
       

guys you should always have  a  security practice  of  having  three email accounts. one personal(Only the most trusted people get's it, and have it secured using  two factor), one commercial(Banking, Bitcoin and financial services), general(This you give it out to the  world, download apps and access from a unsecured  connection).

your account is  hacked Which brings me to  say this again. please  use  two factor  on all your Bitcoin trading  accounts.  buy a  Yubikey from here. https://store.yubico.com/store/catalog/index.php?cPath=2

I  will write up a tutorial on a security plan you can implement  for your online account later today, hopefully i  will get some time to do this.

Well the clash, is a clash of  ideas and  the basic opensource principles (FOSS), The way businesses in the  bitsoin global community was conducted is through mutual and gained trust, Trust is  one of the biggest things in the  bitcoin community, 'Caveat Emptor' is the model businesses are  based on, and falls on the community to provide a safety net by pointing out  wrong business practices.

When things fall on the buyer to take most of the risk, a  community needs to take care of it and look to  the benefit of the  community, not a  business  venture.

Put it up on bitquick.in they are a escrow exchange.

They are a escrow exchange and untile now  have  done  a  good job.

they hold the sellers BTC and the buyer directly transfers money to the seller. once the seller gets paid BitQuick transfers the BTC to the buyer.
https://bitquick.in/faq

I am glad this  happened. The Giveaway thread was just going  out of control. we should have threads that can be informative and support the alt coin ecosystem.

If you had looked at the Altcoin section a few days back the only thing you would see is a section filled with giveaway.

May be a  subsection for giveaway's only would be a  better fit, but this is also fine.

people wanting to do giveaways can still do giveaway as long as they dont encourage massive address spam.

Giveaway's are  not dead. so dont worry about it. 

Thank you :-)

BTCIndia you  speak like an investor, and in investor speak you are  absolutely correct, however you are also  completely wrong. The only reason why BTC increases in value is, because of its intrinsic value to be used as a  currency. not  as an investment. If people will stop using BTC as a  currency then BTC  will become void, its value will drop like a  rock and  will actually hold the Tulip crash true.

Because BTC can be  used as  currency people  buy it to be  able to use it.

Highkart has put in  a  good number of work in his  site  design, and a lot of products which is  a  good  thing (Dont know about  operation or warehousing or  procurement strategies so can comment on it). If  he manages his business properly and makes it  convenient for people  to buy from his site  rather than flipkart or ebay, then he will make sure  that Bitcoin in india  will flourish, it will be one  stepping stone  for  having  more  service and  goods transact using  bitcoin.

The more  people  uses  bitcoin to do transaction, the more the  value  of Bitcoin goes higher.

I can  give you examples of alot of thing where  in people  spent bitcoin on trivial things and now when you look at it, it may look like a waste. That is how the  bitcoin economy works. It's not  a traditional  Inflationary economic, but  rather  the opposite.  If i had kept all my bitcoin from the early day i could have retired by now, but i did not. Instead used the btc to  promote its growth and  buy  thing i needed.

Ckz the RBI has scared the shit out of most people.

that's nice. This is a good thing that is happening.

I was always against the foundation and any centralized group that proposes to talk on behalf of the btc community.
This goes for the Indian one. i dont recognize them nor do i support what they do.  

Decentralization is the core of bitcoin, even communities need to be decentralized, with no power structure.

Sorry if i was a  bit ambiguous about my statement about interacting with the community. I meant, when you make the announcement, and start interacting with the community, you need to start you first step by being part of the bitcoin community and building you business.

Interaction as an individual is a different  thing, a community participation as a business is different. you will need to integrate you business with a community that is built on trust.you need to gain and earn trust first.  

you have to  love Doge, who does not love doge. it's so  cute.