I made an investment in rbitco.in recently and the coins have not been credited to my account. The delay could be technical but I have messaged the owner and haven't gotten a response. I would like this resolved. The user is NilamDoc.
Thanks
Hi gambit1, As I know, Nilamdoc is visiting USA for the conference and may be he is not aware of this issue. I will also PM him with this issue. Cheers |
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I made an order but did not receive any details of your Bank account?
Can you please pm us your email address or bitcoin address you have used to generate order. We will look into this asap. Also you should receive our banking details in pm to add for neft payment in next few hours. Thanks, Buysell bitcoin |
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IMPS z fastest:)
@Buysellbitco.in, can you transfer money through IMPS if I wanna sell some btc?
IMPS z fastest:)
@Buysellbitco.in,
can you transfer money through IMPS if I wanna sell some btc?
We can support that in future. Nit for now. At the moment we support only neft and cheque. Cheers |
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+6 votes from me too  Cheers |
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Hi, not from India here, but you can do it this way: 1. Go to this page. 2. Type "89" into the text box (no quotation marks). 3. Click "Watch Board" 4. Repeat steps 2&3 for the following numbers: 121, 122, 123, 124, 125, 126, 127. Then you can use the Watchlist to get all new posts in the India board. Thats cool bro thanks |
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Finally some humour.. it was gettin intense..  nah.. all Benson wants is BTC.. No fun intended |
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Ok one more suggestion : Try to open a testnet.... Let people register, Give them initial fake balance like 50k INR, and 100 fake BTC.. Let them trade.. Let them use system and know how it works. Let them withdraw fiat balance, let them withdraw fake BTC balance and see how it works... It will also serve as great testing ground for you. it will also serve as awesome trial for your trading engine. let people hack it in your testnet and you will know exactly what is the issue before it hurts you. it will also allow people to understand you, your system and it will build trust for your system at least. You will also be able to test your support channel efficiency and you will realize that its easy to setup a phone support for at least paying customer. If this idea gets viral and its hit, you owe us Pizaa delivered to our places Once again : Please do not put anything in hot wallet, it will get stolen...Two factor is more important than anything else. Spend all money you can to make sure your DNS is with provider whom you can trust, make sure your mail server is secure like (?) and has SPF records, I am sure you have dedicated server ( No VPS, dedicated is must with no hosting company management account ) and truecrypt installed there, you have offline backups in encrypted drives and internal messaging in your company is all PGP based, and above all you have death switch which will allow next competent official in your team access to cold wallet. Cheers |
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I NEVER claimed that business had full approval from govt. We have done reasonable We have discussed with CA's, and few legal councellors and taken advice.
We had filed petitions on officials related to FEMA\FERA and Payment\settlement dept(which regulates e-wallets etc), with appropriate legal channels as i mentioned before. As i said the appeals are dismissed by higher officials. And they are considering it as hypothetical as of now. And there are few other petitions filed on other appropriate govt agencies at this point of time.
Point is if something is not regulated, it cannot be deduced clearly as legal or illegal. And we clearly are not doing business without the notices to appropriate govt agencies in advance.
The legal quest does not end here, as it is known it takes lots of time and effort.
Understanding is govt needs a cut through taxes of any business.
Also, i dont want to divulge too much details of our organization strategy on legal approach because it worries me that a competition would follow the same strategy.
I guess, most of the rules made after lobbying. Without some organization need for regulation and asking them for it, if we expect them to make public announcement, the wait would be forever.
Now I understand that people may deposit INR as well, but that is not as big a problem as BTC deposits. INR depositors can always go to the courts. Bitcoiners cannot. Bitcoiners cannot go to court, since Bitcoin operates across jursidictions. Best part of Bitcoin is its free operation, not so best part is cannot go to courts(i guess this may happen in future they people indeed may approach courts over bitcoin). We can operate without PAN, and ask PAN while withdrawal. There is are inherent problems with that and need input feedback\solution for this in this community: 1) A person deposits >50K and does not operate his account(this may go not reported, since no identity). 2) A person hacks another bank account and transfers money to the exchange account, buys bitcoins and withdraws bitcoins. This is a huge issue. 3) Person deposits >50K without learning there needs to be PAN and while withdrawing, if we demand PAN while withdrawal of INR he might feel cheated. Many of international payment solution does similar to this. I am sure the above issues attract a competent authority to investigate into matter than trading in BTC. Ok now we are talking on correct points. 1) A person deposits >50K and does not operate his account(this may go not reported, since no identity). You must have daily and monthly or overall limit say 20k. If transaction or overall goes above that you need copy of PAN and verification mandatory for the same. If he is not operating his account, you should just carry forward his balance. Its not your issue and as long as money is not withdrawl to some else account, there is nothing to worry about it. Remember if someone deposits some money in your account, its not your money, its still his money as long as its there. Make sure your transaction account is different bank account and it does not involve your daily other business transactions. This account must be used only for exchange transactions that is only deposit and withdrawl. You can have a periodic evaluation period where you transfer profit to your other account from where exchange pays its operation costs. 2) A person hacks another bank account and transfers money to the exchange account, buys bitcoins and withdraws bitcoins. This is a huge issue. Support only NEFT. NEFT requires user to add payee and mostly have two factor + cooling period enabled. So if transfer is coming from NEFT in 99.99% cases you can prove them user has transferred funds himself. Still want to ensure that user is the actual person to transfer money, for transaction above some value say 20k, ask him to send you notorized affidavit stating that they are going to use X account for transaction to your account. Ask them to provide a physical copy of bank statement obtained from bank branch. 3) Person deposits >50K without learning there needs to be PAN and while withdrawing, if we demand PAN while withdrawal of INR he might feel cheated. Many of international payment solution does similar to this. Thats their problem. Make deposit order based. Allow them to book order in your system. Make it very very noticeable in instructions. Dont allow them to even book order if they do not meet your verification requirement. And on top of all, PLEASE use 100% cold storage. Anything in hot wallet will be stolen, write this on your spects. Everyone in India wants an exchange. We want it badly because that will allow us to find actual INR price and will save us lot of costs. Cheers |
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Bitcoins draining their sick finance system which is already dead 3 times at least.
Hahahhaha, so true. lol. |
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Popularization of bitcoins in India will result in prohibition of bitcoins and criminalization of the whole area. From government point of view it is illegal alternative remittance system. When it happens, we all know whom to blame for that.  I do not think it will be any different from what ECB and finCEN have done. Regulations, KYC, AML at the most. first person to go to jail will be buysellbitcoins, next they will get frozen all bank accounts of people who has done transactions with him. Indian business model based on prohibition. Once it will come to their attention, I have little doubts what will be the next. Expecting almost whole Indian Bitcoin community having party there with me On a serious note, I do share your concerns on this topic but I believe as long as you have proper records of your transactions, and you pay tax, you will get chance to explain yourself. If they want to close down business, I will simply close it without any argument as long as they have proper legal tender and authority to ask me that. Bitcoin needs still at least 3 years in India to get mature. |
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thanks buysellbitcoin got the money, now I can buy new chappals for me and all my village.
Lol, always welcome :-) Cheers |
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Honest CAG Vinod Rai retires. Digvijay Singh Admits appointing him was greatest mistake of UPA govt.
Vinod Rai has set very high standards for CAG now. The new CAG, I am not much hopeful, as we all know what UPA has done to other institutions. |
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Thanks! Looking forward to buysellbitcoin transactions in future... ~ Unleash the Great Ninja Power. How can I get this above line in post footer? Always welcome :-) Looks like you have figured out how to update your signature. Cheers |
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SBI account is already under process. Also Axis account.
Cash deposits are suspended temporarily. We are working on allowing this option for verified customers. Not sure as of now when we will be able to resume it.
Neft clearance times normally depends on source bank. For all major banks it gets cleared within 30 minute. We will process your transaction as soon as it hits our bank account.
Thanks,
BuySellBitcoin
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Bump
Now supporting NEFT and cheque deposits.
Cheers
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10 btc for sale mtgox average rate, HDFC or ICICI bank transfer
Can buy all of them, rate as per http://buysellbitco.in/Payment will be done to HDFC bank account and will get cleared today only. If you prefer ICICI, it may take 2-3 days to clear cheque. Cheers |
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Dear users, We have changed our deposit methods now. We are accepting NEFT transactions now. Pay the deposit via NEFT ( Online Bank Transfer ) or Cheque Once you have booked deposit with us, and have unique order id and deposit instructions, please pay the amount using your selected payment method. If you have selected NEFT, you can add our bank account details to your NEFT payee list and wait for it to approved/enabled. Once it is enabled approved in your NEFT payee lsit you can send funds to us via NEFT. NEFT transactions normally clears within 1 to 6 hours. If you have selected Cheque payment, please deposit cheque to nearest Bank brnach of selected Bank. Cheque payment get cleared 1 to 3 business days. We are not supporting cash deposit transaction at the moment. Oonce you deposit cheque teller will give you cheque transaction receipt. Please keep it safe. You need to send it to usto confirm your order. Please send scan/photo of the cash transaction receipt you have received from bank to support@buysellbitco.in, it will help us to process your transaction faster. Once you complete deposit, you will receive bitcoins to your mentioned bitcoin address within one business day after deposit is realized to our bank account. Please note that now we are not supporting locked in rates. Rate will be applied at the time of the transaction. Please let us know if you have any questions or concerns. Thanks, BuySellBitcoin |
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Hello Everyone, Awesome India forum  I'm from Bangalore. Bitcoin is amazing! BTC~ Unleash the Great Ninja Power. Welcome mate :-) |
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Hope bitcoins cleanse our flawed monetary system just like Baba's pranayaam cleanses the body..  ha ha ha (rofl) !!! Welcome Cheers |
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I would like to spend 6 months in India near the Himalayas.
Any suggestions where I should go? Cheap cost of living and good Internet connection is a must.
Do you think the Manali area is a good place to spend 6 months?
You should see Dharmshala, Dalhousie for sure. http://en.wikipedia.org/wiki/Dalhousie,_IndiaAlso at anytime you want to convert your coins for INR, contact us As far as internet speed concerns, you will not get great speeds but you can get decent speeds with idea 3G offerings ( I use them personally while I am travelling and they have decent coverage and speed ). I am not sure if Idea 3G coverage is there in Dharmshala or Dalhousie I will search a bit and let you know. ( PS : I am going to have a long vacation in Dalhousie in early 2014 ) Thanks, BuySell Bitcoin |
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