[2017-04-30]India’s Government May Be Preparing to Legalize and Regulate Bitcoin

[Carlton Banks]

They may as well say they are planning to legalize people scratching their nose

Fuck off governments, we don't need you or your smiley official bullying

we need them to legalised bitcoin and others crytocurrency so that bitcoin will realise it full potential. You can see what happens to bitcoin price after Japanese government legalised it. India has a very big potential and they adoption is a plus to bitcoin and not minus.

Governments don't like legalising things they can't control, and when they can't control it, they desperately think of ideas about how they can control the uncontrollable.

People in some US states get fined for not cutting their grass, or collecting "illegal water" from the rain. Say hello to the forthcoming United Nations sponsored "breathing tax" if you don't get it yet.

[WallSinger]

I think it's a very good news ! I hope that Venezuela, for example, will can follow

[veleten]

They may as well say they are planning to legalize people scratching their nose

Fuck off governments, we don't need you or your smiley official bullying

we need them to legalised bitcoin and others crytocurrency so that bitcoin will realise it full potential. You can see what happens to bitcoin price after Japanese government legalised it. India has a very big potential and they adoption is a plus to bitcoin and not minus.

Governments don't like legalising things they can't control, and when they can't control it, they desperately think of ideas about how they can control the uncontrollable.

People in some US states get fined for not cutting their grass, or collecting "illegal water" from the rain. Say hello to the forthcoming United Nations sponsored "breathing tax" if you don't get it yet.

thats why "legalise" means "control" in their argo,or as they put it-"regulate"
you can be sure that legalistaion is going to happen sooner or later,after all bitcoin is a phenomenon that
can't be just ignored or overlooked,my only fear is that they will make it overburdened with taxes,rules that they will control exchanges  and so on

[minizi99]

They may as well say they are planning to legalize people scratching their nose

Fuck off governments, we don't need you or your smiley official bullying

we need them to legalised bitcoin and others crytocurrency so that bitcoin will realise it full potential. You can see what happens to bitcoin price after Japanese government legalised it. India has a very big potential and they adoption is a plus to bitcoin and not minus.

Governments don't like legalising things they can't control, and when they can't control it, they desperately think of ideas about how they can control the uncontrollable.

People in some US states get fined for not cutting their grass, or collecting "illegal water" from the rain. Say hello to the forthcoming United Nations sponsored "breathing tax" if you don't get it yet.

thats why "legalise" means "control" in their argo,or as they put it-"regulate"
you can be sure that legalistaion is going to happen sooner or later,after all bitcoin is a phenomenon that
can't be just ignored or overlooked,my only fear is that they will make it overburdened with taxes,rules that they will control exchanges  and so on

I agree with you. We must be afraid of legalizing bitcoins. And the government of every country dreams of getting full control over the bitcoins

[Carlton Banks]

How will it be regulated effectively? I'm failing to see it.

Maybe someone can tell me how Bitcoin transactions can be controlled, but is that not the problem that Satoshi set out to solve when creating Bitcoin, to create cash for the internet, digital gold that cannot be interfered with? Is that not what gives Bitcoin it's entire value proposition, that it gives every human being more power than the governments or the banks have to control their own money?

[lilit]

How will it be regulated effectively? I'm failing to see it.

Maybe someone can tell me how Bitcoin transactions can be controlled, but is that not the problem that Satoshi set out to solve when creating Bitcoin, to create cash for the internet, digital gold that cannot be interfered with? Is that not what gives Bitcoin it's entire value proposition, that it gives every human being more power than the governments or the banks have to control their own money?

Just Bitcoin users should choose what is best for them or legalize Bitcoin with the loss of some on the property or permanently be outlawed. But on the other hand, even India is already moving in step with the times and this I consider positive moments.

[ivanpoldark]

After Indian authorities will legalized bitcoin, its value can grow to 4000-5000$ very fast. Of course this figures taken from the ceiling, but even if not India but every large country legalize bitcoin, it will strengthen every time. When countries authorities started to discuss bitcoin on ministry level, it unequivocally tells that they began to reckon with bitcoin.

[veleten]

How will it be regulated effectively? I'm failing to see it.

Maybe someone can tell me how Bitcoin transactions can be controlled, but is that not the problem that Satoshi set out to solve when creating Bitcoin, to create cash for the internet, digital gold that cannot be interfered with? Is that not what gives Bitcoin it's entire value proposition, that it gives every human being more power than the governments or the banks have to control their own money?

yeah,they cannot control transactions or fees but they can control  bitcoin-fiat exchanges chain
try to remove or tax the institutions that deal with bitcoins
thats why adoption is important,this will allow to sell for bitcoins,buy goods,services etc.