Bitcoin demand was there in India since 2013, around this time RBI took a stand against it, but the note ban just increased the demand. The way government is handling things, it looks like they are going to go too hard on regulation. About a week ago bitcoin was dissed as a currency used for money laundering and illegal activites by a couple of ministers in the parliament with the statement that the regulation process would go hand in hand with cracking down illegal activites involving ponzi/pyramid schemes. Based on all these a report would be submitted by the end of July and then the government would decide if bitcoin needs to be regulated or not. The whole process would take at least more than a year.
I agree, but that was before the committee was set-up by RBI. At the moment, the committee is looking into regulations related to Bitcoin and they probably will announce their decision soon. (It's looking positive, though.) Most Indian bitcoin users are just in for the speculation. Even with a 30% premium, Zebpay was breaking all volumes. Unocoin has partnered with a handful of merchants, but there are no major stores accepting bitcoins in India.
The 30% premium sucks, not sure why people are willing to pay this much. :/ Major stores cannot accept Bitcoin even if they wanted to, at the moment. (Because of the legality). |
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Maybe this is a stupid question, but what is the advantage of taking it out of an online wallet like Coinbase? Is it just that you are afraid that the provider might get owned and lose your $$?
Yes, that's exactly what the reason is. Storing your Bitcoins on an online wallet is not safe as all as they might get hacked. (Has already happened a lot times.) Also, Coinbase is known for freezing customer accounts without giving any reason. (Which sucks) Storing Bitcoins in an HD wallet is safer, because you control your own Bitcoins. |
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Glad you decided to buy Bitcoins. India's most trusted exchanges/traders are Coinsecure and Zebpay. Check out http://bitcoinrates.in/ for a comparison of exchange rates. |
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Bump.
Still looking for offers. Feel free to send me a PM.  |
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interested  sending PM  Thank you for the PM.
Bump. |
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Not doing anything with your bitcoin is the best investment
This is the wisest advice that you're ever going to get. Always keep at least 30% of your holdings in Bitcoin. Invest the rest in alts that you find promising after doing your OWN research. Buying and holding Bitcoin is great... but I want to increase my bitcoin holdings. I recommend Bitcoin Mining to grow your bitcoin. The reason is that the more Hashrate you buy, the more bitcoin appears in your wallet everyday. I have reviewed the top bitcoin miners here: https://bitcoininvestment.news/#bitcoin-minersEnjoy! Bitcoin Mining is not even profitable anymore and most cloud mining websites are scams. |
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✨I appreciate the fact that you actually read my reply and your responses are clear & thoughtful✨ Now, I have to tell you that on any given day, I will be seen at the bitcoin atm despite my long-winded answer, above. I HATE the fee, but I love the convenience. It is an evolving perspective and soon I hope to offer a mobile solution in Vegas at least, as soon as my kiosks are funded fully !!
Exactly. Bitcoin ATMs also provide instant withdrawals, which are quite convenient. Exchanges, on the other hand, usually take a couple of days (if not more) to process withdrawals. Looking forward to knowing more about your solution. In my opinion do not need an ATM, the cost to buy a machine and ATM care is very expensive, who will pay it? Even if it exists only in some special places, it is unlikely that bitcoin ATMs exist in every village, so bitcoin ATMs should not be a top priority
The cost of buying and maintaining the BTM is not a concern for the consumer. It's the responsibility of the Bitcoin company/ATM operator that installs the ATM. (That is what they charge the fee for). |
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I did!
But this beautiful book is going to another user on the forum who requested that I bid on his behalf.
I hope that I remembered to leave feedback... I'll check shortly!
Lucky you. You outbid me. Can't wait to receive my copy, @Tyke. Thanks |
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✨I agree!✨ Here are my thoughts .
No, it isn't really a need. It is however a solution to one problem that Bitcoin users face, and that is, trust. Peer to peer transactions are not different than a transaction handled at an ATM except the ATM is holding the wallet of the peer the ATM user is transacting with. The reason the ATM is more trusted than "some guy" is purely because it is a machine, attached to the blockchain, and has all the familiar features we are accustomed to like buttons, receipts, and a toll free phone number to call if an error occurs etc. I think there is a need for an ATM. This is because they connect Bitcoin to Cash. I agree, trust is something that is an issue for bitcoiners, in a peer-to-peer transaction. But, what about the people who aren't tech-savvy enough to even understand what Bitcoin is? If they want to buy or sell Bitcoins, they can easily use ATMs to do that in a more conventional way. (Which they are comfortable with.)
The fee that is placed on top of the actual value when purchasing from an ATM is often a painfully out of proportion amount. Also to withdraw cash from the machine will yield a disappointing, below market result. Yesterday at a popular Bitcoin ATM machine the current VALUE of btc was 2848.00 but the ATM charged 3200 per coin to purchase. OUCH! Then if you wanted to get cash, you "sell" your coins to the machine and it was paying $2340 per coin. More ouch!
I agree, the fee is a lot, when transacting on ATMs. This is something that ATM operators need to work on. I think the fee shouldn't be more than 1-2%. (Currently it's around 7-8%) |
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Oh yeah thanks for all dude  BTCBTCBTCNice win there, altpool-tech. That droid looks awesome! |
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Just giving you a heads up bro,these cards don't work on amazon India,though you already know this but there are further restrictions while using them on international shipping or buying all the items. I've purchased similar cards from here and they're still unused redeemed in my amazon account. Haha, I'm interested in purchasing stuff from Amazon.com to gift them to a friend. Can you refer me to someone who you've purchased the GCs from? Thanks, man. |
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Hey guys,
I'm looking to purchase $150 worth of Amazon.com GCs at 80%.
Send me a PM if you're looking to sell.
Regards
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There is no harm in installing and operating a few Bitcoin ATMs here and there. I know that a lot of the users still distrust the online exchanges. For such people, the ATMs can be very useful. They can just insert the banknotes and coins, and get Bitcoins in return. No need for any ID verification, and there is no risk of someone hacking in to your online account.
I agree. There are a lot of pro for the customers, and the fee is not a lot. (Considering the pros.) It's not easy to operate a BTM though. There's a lot of legal complications and risk involved. (Keeping in mind that no KYC is required by most BTMs) Not to mention the costs and capital needed to run a BTM. |
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Those machines should instead be called kiosks rather than bitcoin ATMs.
Bitcoin ATMs are actually considered as Digital Vending Machines. Having an ATM would help promote bitcoin to the masses for sure. I think it is a good idea and would like to have one in my area.
I agree, we need more Bitcoin ATMs. But the average fee charged by an ATM is around 7-8%, which is a lot. |
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Where the hell is satoshi? Do we desearve to know the truth? What do you think folks?
I thought Craig Wright was Satoshi? |
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Zebpay is shit . I was and am ready to pay whatever amount of fee they quote , but just once when i transferred they didnt even put the amt of fee which they cut from my tx. they put only 20-30% amount of what fee i paid . People please check your transaction carefully , they are not even putting the fee you paid.
This happened to a lot of my Txs as well. @OP, it would be great if you can share your TXID or your address. |
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No interest?
price reduced on the ticket price
What is the price for one ticket ? I can't find it in the OP "To be determined". Each spot is TO BE DETERMINED
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Can you share a TxID or the address that you sent the funds to?
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I'll take a couple, PM incoming! Awesome! Thanks for placing an order. |
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Yes, Coinsecure is really working hard to get everything back to normal. So, feel free to transact on their platform from tomorrow, shouldn't face any problems. |
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