You should take it easy and not come down too hard on anyone.

After all is it not the media's job to discuss everything, rumor or not in detail and come up with content to fill their pages?

Out here, people are generally busy with their lives and work to discuss everything under a microscope, not least fabricate articles quoting some financial figures and mostly speculation.

I can also throw up couple of quotes out of thing air, and write a few pages about it, and would anyone be interested?

As for the topic, who is really interested in a bharat coin? Not many. Sorry, don't think i'm a Kanhaiya Lal or an anti-nationalist, but very few of the alt-coins are showing  any real progress and most of them are winding down in no time.

What are the prospects of a "Bharatcoin" apart from the fancy name, when btc infrastructure in india itself is pretty much in its nascent stages? How will an alt-coin trade within India alone blossom? People are just starting to use bitcoins here at the moment..

There is a joint committee in India for everything, whether it would actually work towards achieving something of importance rather than procrastinate only time will tell.

The only advantage on these articles in print media is to add to the ever growing popularity of coins in India and that is a good thing.

I cannot and no one can, but you have to make your own decisions.
I am just sharing what the BTC price charts indicate, last year same time it was hovering at around $280, now it is more than 2x that price.

Gambling itself is illegal per se, so any form of gambling which includes bitcoin gambling or gambling your immovable properties are all llegal but the punishements are usually a slap on the wrist.

Of course it is legal in certain states where you can gamble in registered casinos etc.

But generally if you are into gambling it is a safe idea to keep it silent rather than let the whole world know you are gambling.

Personally  I would never advice gambling, it costs far more than what you will stand to make as a profit and there are literally a million other avenues to make good money with only a fraction of the risk.

Bitcoin itself is the only investment you should look at 

What is faucet earning lol, faucets are a joke.

Invest in BTCs for INR 10 Lakh, it will become INR 20 Lakh in about a year's time.

You do not have to. If you're only having BTC online and in the form of fiat currency, there arises no question of tax.


Even if you are converting it into INR through an exchange you only need to pay service taxes and other state cess and there is no need to pay capital gain tax. This much I have had it clarified from my CA as well as an expert senior lawyer from Mumbai who is well versed in financial laws. Both of them were crystal on the fact that as long as there is no regulation in place treating bitcoin as an asset, paying capital gains is not necessary and waste of ones money.

All of this changes if and when bitcoin becomes a regulated asset, you would have to maintain strict books regarding buying and selling coins to show capital gains and also pay taxes on the arbitrage.

All this negative press regarding bitcoins as a medium for fraud and narcos makes me really uneasy   

If this keeps coming in, there will surely be consequences in the form of a blanket ban on bitcoins. Since we indians love to ban anything and everything, and the ones who place the ban will not have thought things through, but just put forth a motion to immediately ban bitcoins in order to stop the proliferation of this type of fraud.

Can we do something about this? Such as create a small lobby group to promote bitcoins in India through positive reports in the media, we can highlight some of the impact bitcoins have had world over and also in India?

This will cost money, no doubt but also consider the implications of a ban : it will affect the lives of a lot of us who trade extensively in bitcoins. They cannot "ban" bitcoins per se, but can make it illegal to own and trade bitcoins (like Russia has done already) - this will mean we can be held responsible for merely having a wallet with coins.

I am more than willing to put some money into a lobby group along with some others of this forum if anyone shows interest - we can discuss how to take this forward.

There is no legal requirement to pay income taxes on Bitcoins capital gains in India, because the government has not yet passed any regulation defining bitcoin as a property or an asset.
In the USA this was regulated back in 2014 itself where BTC was declared as an asset and hence capital gain taxes chargeable to citizens holding BTC stock.

India gov' is still in denial about bitcoins and hence there is absolutely no requirement to pay capital gains from a legal perspective. Unless you wish to fill the coffers of the Gandhis and the Modis with your hard earned money 

There are chip based credit cards in the USA; though banks like Ally Bank still offer non-chip based cards.
Most Americans prefer credit cards over bank accounts for the ease of payments, non-OTP non-PIN cards (signature based cards) are still in existence for this reason

Still no reason for thieves to steal credit card details and use it to funnel illegal activities.

It is important to verify the integrity of Bitcoin Core. Even if you download it from bitcoin.org, it may have been modified in transit or even on your local network by malicious attacks and malware.

You should ensure that the release that you are about to install is signed by the Bitcoin Foundation.

Now that you have proceeded from this step, I suggest you enlist the help of senior members of this forum and let them have a look at the log files or access your program.

Do you mean like to a BIP32 HD wallet, or to a static wallet address of the seller?

There definitely is a way..

Did you happen to download an infected copy of bitcoin-core? Specifically, check the PGP key of the downloaded file?
 I have not come across one yet but it is certainly possible that some no good fraudster is using a modified bitcoin-core executable and stealing people's money.

What sort of collaterals can be used when it comes to BTC loans online?
I can see several users on BTCJAM complaining of being scammed/non-repayment etc.

You guys are looking at the wrong numbers and for all the wrong reasons. 

Yes BTCe has a low price because traditionally getting FIAT currency in and out of BTCe is a painstaking task. They have been known to take at times almost a 30 days to process and credit SWIFT bank transfers; how long it takes for them to credit OKmoney and Money Polo, it is anyone's guess.
Read the troll box on the main page, you will find every once in a while someone complaining about how long they are waiting for their fiat credit to show up in their BTCe accounts. It takes so long, sometimes you naturally assume it is a scam.

BTCe is a the best for day trading, and also a great exchange to trade alt-coins. I use BTCe all time time and not once have I deposited or withdrawn anything other that bitcoins from the exchange.

All of you guys thinking of profit from arbitrage - ie buying BTC for a low price on BTCe and then selling it for a higher price keep these factors in mind. If you want to buy bitcoins with the "low" price on BTCe you are in for a considerable wait. And when it comes to coins, time = BTCBTCBTCBTC

I think this article says some credit card remittance fraud for 1.2 crores using stolen information from American Punjabis?  Sounds to me like money coming from stolen cards or hacked US bank accounts into Indian bank accounts, through Western Union or something.

Americans hate this type of fraud and every single bank out there in the USA has multiple ways to trace this fiat currency from stolen credit cards. And it is a shameless thing to do, stealing unsuspecting people's credit cards and using it to fund illegal western union or bitcoin purchases.

About the Punjab thing, I doubt they bother since they surely earn a big cut out of the business by allowing the trade to go on unhinged..

I have to say Zebpay is really popular, I have seen many people buy bitcoins through this app just to get a 500 Rs discount on their Amazon and Flipkart cards.

Definitely recommend Zebpay and we also need more of the same please.

Also if you are looking to invest money and play your cards right, BTC can offer you close to 70-80% YTD margins on your initial investments, think about that for a second and let it sink in while most MFs and Insurance schemes top at 15-20%.


Also if you were in the USA previously or have access to a USD bank account from your friend or family, you can buy BTC from Coinbase and sell it instantly on Localbitcoins.com India site for atleast a Rs 2000 profit due to the markup price.
If you trade smartly you can make lakhs and even crores of rupees a year.

10/10 for website design: https://www.tonetag.com/

This is an eye wash, if they really are supporting bitcoin they can rather contribute to the bitcoin/altcoin economy in India by opening a bitcoin ATM or even accepting bitcoin for services or making bitcoin more popular in India than opening a centre on "blockchain technology"

Everyone wants a bit of the technology to make their profits, yet nobody wants to contribute to the development of the existing product that uses the technology. Mphasis is not going to overtake other companies in the field of blockchain technology and it will all be released to the public for free anyway.

Maybe they are developing "proprietary" (read: more money) technology that they can sell to some of their clients for few million dollars when the same technology will pretty much available free of cost as a open source bitcoin protocol.

The idea behind blockchain is not to register a million more IP (Intellectual properties) but rather make these overlying financial technology platforms easily accessible to the average person and at a very low cost compared to currently available banking models.

On a similar note RBI sees a use for blockchain to control accounting ledgers and black money in India. These guys never grasp what blockchain is all about, nobody using the blockchain needs RBI to control anything.   The idea behind blockchain is to make incompetent organisations like RBI and banks redundant.

It may be a serious case in the USA which is why the Indian police are under pressure to take some action.

As much as I know, financial crimes in the USA are treated as much more severely and on priority than in India.

Fraudulent credit card transaction in India - you file a FIR and forget about it, if you are very very lucky you may get your money back in 1-2 years. Most of the times it is a loss.

Fraudulent credit card transaction in USA - the banks have to return the money if the customer can prove he did not use the card for the transaction. High level police investigations are conducted by American govt and even if the culprit is in Europe or Asia they try to extradite him as soon as possible. There are thousands of such cases each year where fraudsters from all over the world are thrown into USA jails for messing with American money (USD).

Do you even read and understand stuff before posting utter gibberish to increase your post count?

Use escrow? Im talking about how Mobikwik and Paytm blocks your account days after the escrow is released, after you think the money is safe and the trade is over you wake up to find your account blocked.

What is "taking loan from Paytm"? Senseless smh...  

I dont want any answer; I am just posting this to create awareness of this type of scam.
You may be the most knowledgeable person in this world but there is no need for you to tell me not to create a new thread. Simply do not post here  

Never trust these wallet companies such as PayTm and MobiKwik until there are stricter RBI regulations and an independent watchdog/committee monitoring these companies.

At present they behave like amateur kids with zero customer support and very poor service.
How can PayTM not have a contact number? You have to e-mail them and wait for a response. And they pretend to be replacements for banks.

Is this any way for a financial company to operate? Tell me which bank does not have a customer care phone number? 

MobiKwik, I will tell you is even more sad, their customer service reads from a paper "we will resolve your concerns in 48 hours" and it takes 15 days for them to respond back after that.