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'Not Illegal' means legal. You are doing nothing wrong or illegal unless India takes some regulatory action or Ban Crypto currency in the country. You are free to create and from Crypto till then. So keep faith and enjoy earning.
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-I would like know how can you get a Bitcoin machine where you can put your money? and send it to your wallet address.
-Is there any chances I can send it to my ether wallet? by the use of the bitcoin machine?
-Do the head of bitcoin need to talk to the Government? Or what will the head do?
-I want to ask this because I seen hours ago the Bitcoin Machine or ATM is located at Singapore.
Exchanges should come forward to the initiative to install BTC atm machine in various countries. I don't think Govt. will ever get ready to head a BTC atm machine. Because this step will increase the popularity and trust of common man on BTC. |
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Trading in Crypto-currency does not require age proof. Being decentralize, BTC is totally unbias to age, gender, color, religion etc.
But yes if you need to convert your crypto-currency to real money like dollar, pound via bank account, you need to be holding a bank account which could only be opened after being 18. You can open a minor's account in bank but that need your parents proof and all the money earned would be taxable for the parents.
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There is nothing to fear from the word 'regulation'. As long as the rules and regulation made by Central authorities are protecting users interest like privacy in transaction etc, there would be no harm in it. Even we could expect a great jump in BTC and altcoins price after getting approval from the govt because this will encourage more investors to invest in it without any fear of being illegal.
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Saving or Spending??? I am sure many of us are facing the same scenario. we can see our money growing continuously that always resist us from spending it. But on the other hand, we also have fear of its crash because of unclear govt. stand on it. I believe we should keep invested in it and only spend on our needs. And soon we will be enjoying a luxury life.
Another way is if you spend BTC then start earning in BTC.
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Really an interesting Question. It would be a challenge to make kids understand the concept of BTC. An entertaining video with some animation could help a lot. I think BTC is a bit complicated as compare to fiat money which we can't see and touch like fiat currency. I think that you should discuss about BTC and cryptomarket after coming to Teenage that is after an age of 12years, coz because before that it would be really difficult to make them understand abt BTC transaction.
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If all start accepting BTC then it would be so-called 'people's currency'. No need to depend on any govt. to issue a fiat currency for their currency. But I don't believe it will happen. Growing popularity of BTC has become a headache for central authorities as they don't have any control on it. If they approve it then only we could see this scenario of free BTC transaction for daily need stuff.
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A wise man said "Don't keep all your eggs in one basket". Therefore don't invest all your money in direction. Bitcoin being decentralised is highly risky... Although the profit is also high. So invent that you afford to loose.
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It is seen that south Asian countries have more negative views abt BTC. They seems to be more concerned about issues like money laundering, terrorism, tax evasion etc. Air may be because of Impact of terrorist activities in these countries. Hope India takes a positive decision toward BTC legalization
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Total Market cap of BTC and Altcoins is about 145 bn dollar. Still, a large percentage of people all around the world are unaware of it. So it got a huge potential and large market to touch. Though the price of BTC and other altcoins are rising, it will give also give a boost to its market cap. ICO's are also attracting investors to invest more in order to earn huge profit in short spam of time.
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You mean...people start following the trend of selling. Obviously, BTC price will crash for a while. But not forever. Because if there is not any negative news then soon smart investors realize that it is just a trend or panic selling and they start buying or accumulating it. This will gain soar the market. So no worries it is just the a basic demand and supply cycle.
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Hello people!As you consider whether each state to create their own tokens? under its currency?
I don't think so because no country wants to give a decentralize currency to their citizen and loose the economic control from their hands. And if there is Internet everywhere than it could be accessible from any part of the world. So there is no logic behind create such a vague and useless currency. |
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Not really Bitcoin wallets do not need any ID proof nor age proof to make a transaction. Transactions are totally anonymous...regardless of your gender, caste, religion, age, nationality etc. Concept of BTC is quite liberal and independent.
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Not really...If you make BTC transaction from one wallet to another, no tax would be levied because of a decentralized anonymous transaction on the blockchain . But soon you want to bring profits of your investment in your bank account through an exchange, it will ask for KYC which include all your necessary documents which will help to evaluate the tax on you.
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Andrew Haldane said one solution would be for the Bank of England to issue a state-backed digital currency based on bitcoin. Supporting this initiative would be a negative interest rate levied on paper currency relative to the digital currency, with these measures do you think there is more possibilities that sometime:
Paper money will be banned entirely?
How long do you think that happens?
would it work?
What security and privacy risks would it raise?
And how would public and privately issued monies interact?
I don't think Paper currency will disappear that soon because there are a lot of high illiterate people who are below poverty line. They don't understand gadgets, technologies, and softwares. How will they manage?? I agree the use of Paper currency is reduced in last 5 years and will reduce furthermore. Visual currency also has a lot of risk like wallet hacking, error in network/payment gateway etc. It needs a lot improvement with these issues to make it a dependable mode for day to day transaction. |
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