arshidkv12 (OP)
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April 11, 2015, 03:12:56 AM |
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Can I start bitcoin ATM India ?
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Rude Boy
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April 11, 2015, 06:27:17 AM |
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i think there is no BTC ATM i know  |
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arshidkv12 (OP)
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April 12, 2015, 03:43:24 AM |
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Can I start in India?
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Rude Boy
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April 12, 2015, 03:47:05 AM |
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Can I start in India?
yup! sure  but there is lack in BTC users in india. |
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kinnu
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April 12, 2015, 11:53:25 AM |
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I think it is not possible as government will not accept it
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Rude Boy
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April 12, 2015, 01:16:20 PM |
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I think it is not possible as government will not accept it
nope may be its possible.. Because there is some BTC exchanges are available, this bitcoin ATM also somewhat same as bitcoin exchange. ~Rude Boy |
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RocketSingh
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April 12, 2015, 02:17:49 PM |
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Can I start bitcoin ATM India ?
No you can not. An ATM is actually a cash vending machine. What you put in does not matter. It may be Bitcoin, Dogecoin, Pepsi, Coke anything. But you are giving out Cash. And you need RBI permission for that. Else they can raid & get you arrested anytime. |
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resources
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April 13, 2015, 11:17:18 AM
Last edit: March 23, 2016, 02:53:25 PM by resources |
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Can I start in India?
You can try to start it. I saw some being sold, just google it you will find some. |
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vennali
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#SWGT CERTIK Audited
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April 14, 2015, 05:38:06 PM |
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I would advise against opening one without making sure that there wouldn't be any legal complications once you do. I am sure you will require some kind of license, and you will probably have the machine stolen  Also, not a lot of people(hardly 0.2% or maybe lower) have even heard about bitcoin, so I am sure it wouldn't be really succesful, except for maybe places like Bangalore or Delhi. |
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RocketSingh
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April 15, 2015, 06:59:54 PM |
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Can I start in India?
Bitcoin currency is considered illegal in India. Not sure if you are Indian or not. But, it is better not to comment on something you do not know. Learn the truth from RBI governor... http://youtu.be/Mu97yGzO_ok?t=22m29s |
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erikalui
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April 15, 2015, 07:33:57 PM |
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Can I start in India?
Bitcoin currency is considered illegal in India. Not sure if you are Indian or not. But, it is better not to comment on something you do not know. Learn the truth from RBI governor... http://youtu.be/Mu97yGzO_ok?t=22m29sI am an Indian and have read it in the newspapers and bitcoins are considered illegal. On 24 December 2013, the Reserve Bank of India issued an advisory to the Indian public not to indulge in buying or selling of virtual currencies, including bitcoin.[76][77] Following the announcement Bitcoin operators in the country began suspending operations.[78] Source: http://en.wikipedia.org/wiki/Legality_of_bitcoin_by_countryAnd well, I guess I have a right to comment.  |
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polynesia
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April 16, 2015, 12:16:33 AM |
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On 24 December 2013, the Reserve Bank of India issued an advisory to the Indian public not to indulge in buying or selling of virtual currencies, including bitcoin.
This doesn't make it illegal. Just look at all the exchanges around you.  OP would have to be very careful about complying with all laws and regulations before opening a Bitcoin ATM in India. |
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Muhammed Zakir
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April 16, 2015, 05:53:00 AM |
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There was an ATM in AP but now I can't find it in online map. On 24 December 2013, the Reserve Bank of India issued an advisory to the Indian public not to indulge in buying or selling of virtual currencies, including bitcoin.
This doesn't make it illegal. Just look at all the exchanges around you. It was just a warning. |
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skang
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from democracy to self-rule.
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April 16, 2015, 07:24:00 AM |
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A bitcoin ATM is not possible without user identification, because if you understand the economy in a decentralised consensus and how the current fiat flows, you'll realize that this is how black money gets converted to white. In which case this becomes an 'exchange' in real sense.
So I highly doubt there'd be any ATMs in India.
[Now Playing : Tut Tut Child - Hot Pursuit]
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"India is the guru of the nations, the physician of the human soul in its profounder maladies; she is destined once more to remould the life of the world and restore the peace of the human spirit.
But Swaraj is the necessary condition of her work and before she can do the work, she must fulfil the condition."
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buysellbitcoin
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https://www.zebpay.com
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April 16, 2015, 07:45:34 AM |
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There was an ATM in AP but now I can't find it in online map. On 24 December 2013, the Reserve Bank of India issued an advisory to the Indian public not to indulge in buying or selling of virtual currencies, including bitcoin.
This doesn't make it illegal. Just look at all the exchanges around you. It was just a warning. Rather than warning it is cautionary note, just like mutual fund investments have their own risk disclaimer. Regards |
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Benson Samuel
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Landscaping Bitcoin for India!
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April 16, 2015, 12:16:08 PM |
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Can I start in India?
Bitcoin currency is considered illegal in India. This is called FUD. Avoid stating things that you may not have understood. Do clarify with someone or read through the forums before posting these things. |
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erikalui
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April 16, 2015, 01:08:56 PM |
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Can I start in India?
Bitcoin currency is considered illegal in India. This is called FUD. Avoid stating things that you may not have understood. Do clarify with someone or read through the forums before posting these things. What? If I understand what he asked is that he wants to start a bitcoin ATM in India? Now when trading in bitcoins is considered illegal and The Times of India stated that some time back, what should I clarify about that? Not interested in arguing and I am sure what I read and said here is true. It may be a warning or a caution but well, RBI does not recognize it. It's as simple as it may sound: ****************** At present, there are no regulations governing virtual currencies like bitcoins in India. RBI, on December 24, 2013, issued a press release on virtual currencies like bitcoins, litecoins, bbqcoins, dogecoins stating that creation, trade and usage of virtual currencies as a medium for payment is not authorized by any central bank or monetary authority. Further, RBI has cautioned virtual currency traders and users to various security related risks such as hacking, malware attack etc. While RBI has not legalized bitcoins, it has declared them unauthorized as of now. RBI is currently examining the risks associated with the usage, holding and trading of virtual currencies under the extant legal and regulatory framework of India, including foreign exchange and payment systems laws and regulations. ****************** When the currency isn't even recognized by RBI, how can ATMs be allowed. I am not sure if he is talking about an exchange website or a physical ATM. I don't know why when I state that bitcoin trading isn't legalized, people start pouncing on me but the only thing I care about is the law. |
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Benson Samuel
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Landscaping Bitcoin for India!
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April 16, 2015, 01:31:24 PM |
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Can I start in India?
Bitcoin currency is considered illegal in India. This is called FUD. Avoid stating things that you may not have understood. Do clarify with someone or read through the forums before posting these things. What? If I understand what he asked is that he wants to start a bitcoin ATM in India? Now when trading in bitcoins is considered illegal and The Times of India stated that some time back, what should I clarify about that? Not interested in arguing and I am sure what I read and said here is true. It may be a warning or a caution but well, RBI does not recognize it. It's as simple as it may sound: ****************** At present, there are no regulations governing virtual currencies like bitcoins in India. RBI, on December 24, 2013, issued a press release on virtual currencies like bitcoins, litecoins, bbqcoins, dogecoins stating that creation, trade and usage of virtual currencies as a medium for payment is not authorized by any central bank or monetary authority. Further, RBI has cautioned virtual currency traders and users to various security related risks such as hacking, malware attack etc. While RBI has not legalized bitcoins, it has declared them unauthorized as of now. RBI is currently examining the risks associated with the usage, holding and trading of virtual currencies under the extant legal and regulatory framework of India, including foreign exchange and payment systems laws and regulations. ****************** When the currency isn't even recognized by RBI, how can ATMs be allowed. I am not sure if he is talking about an exchange website or a physical ATM. I don't know why when I state that bitcoin trading isn't legalized, people start pouncing on me but the only thing I care about is the law. Bitcoin is not considered illegal in India. Being Legally recognized and being Illegal are different terms. |
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erikalui
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April 16, 2015, 01:34:55 PM |
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Bitcoin is not considered illegal in India. Being Legally recognized and being Illegal are different terms.
Ok then I change my statement. Bitcoin is not legally recognized by the RBI. I hope that's fine. |
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cryptoforcause
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April 17, 2015, 08:13:53 AM |
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Yeah tru.. Bitcoin is not legally recognized (not illegal) in India And opening an ATM in India is full of risk and will take a hell lot of time of yours as first you would have to get bitcoins legally recognized and you yourself know how much time government things take in India hehe |
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