I like this idea , i know we have no exchange in India yet , i am from delhi and looking for options to get a basic exchange setup here. may be we all can network together and see if we can do some thing about it, i have been looking at the indian law , the law seems to be regulating currency and payment systems issued by a country or a specific company, payment system regarding credit cards and payment system like the ones created by pay pals. but with bit coin it is decentralized not issued by any particular person or government, i believe that the Indian government would not have any jurisdictional authority, if we look at the sale and purchase of bitcoine as a product rather than a mode of currency , what the person does after the purchase will be his responsibility, Another added bonus is that all bit coin transaction is in the public domaine and if the government cries that they cant know that transaction happens then our response would be to have them pull up the transaction records and connect the dots them self.
Guys tel me what you think of this , and do pm and lets see what we can build.
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