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Author Topic: Will Bitcoin will be declare as legal or not ?  (Read 5163 times)
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June 06, 2017, 02:56:06 AM
 #21

Monkey see monkey do, so in other words, many countries will adopt bitcoin because they see the leaders are making it legal like Japan, even though bitcoin is not the one with many features yet, it has a high price only for been the first, but smart contracts from Rootstock are been developed and this will attract more users...

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June 06, 2017, 02:58:21 AM
 #22

Here I am confused whether the Indian government want to declare the Bitcoin legal or not ?.

Here are the proof that they will declare it as legal

1) Why government of India asking to the public for the suggestion whether to regulate , ban , or just leave it as is currently .
2) Why government taking action against the zebpay , whether everyone paying tax or not .
3) If government want to ban , then why they are waiting , why they are not directly declare the Bitcoin as illegal way of payment or asset .
4) Why government want make tax  from the Bitcoin earner , but don't want declare it as legal .
5) The big bank in India SBI want to use technology of blockchain but still they are not supporting Bitcoin.


Here are the chances to declare it illegal , due to following conclusions

1) They already banned in the year 2010 , but after they unbanned , so chances to ban it again are much possible .
2) If the government of India can stop the use of old currencies  , without any prior notice , then it is possible that they can ban easily the Bitcoin .
3) Since most of the millionaires are in the favour of the Bitcoin but still few celebrities are against the use of the Bitcoin .
4) The current government ruling India is against the black money , so may be possible that with the name of the black money they can ban it ( regardless of the factor that every transactions are publicly open for everyone to see ) .



Well here I would like to suggest everyone , whether he is Indian or not , just support Bitcoin  at www.mygov.in   resister your account and say about the Bitcoin .
And tell them that Bitcoin is a best option to destroy the system of the black money , because everything is open to see .

If you have still any suggestion then feel free to share below about this thread and also I requested to you to support Bitcoin at www.mygov.in

note : we have time until 31 may to give our suggestion , so be fast to support Bitcoin .

"4) Why government want make tax  from the Bitcoin earner , but don't want declare it as legal ."
Because they think in terms of scarcity, fear, limited thinking, narrow point of view, corporation support oriented, capitalism oriented, just to mention few of the reassons..

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June 06, 2017, 09:23:12 PM
 #23

Monkey see monkey do, so in other words, many countries will adopt bitcoin because they see the leaders are making it legal like Japan, even though bitcoin is not the one with many features yet, it has a high price only for been the first, but smart contracts from Rootstock are been developed and this will attract more users...
yes in fact by accepting bitcoin as legal currency by the japan now the other countries may also be thinkin about the legalization of bitcoin. I am sure that very soon they will also take a very positive step about bitcoin and the price of bitcoin will again become skyrocket. may be other countries have already start thinking about the legalization of bitcoin. as their people have already accepted bitcoin.
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June 07, 2017, 04:19:31 AM
 #24

Monkey see monkey do, so in other words, many countries will adopt bitcoin because they see the leaders are making it legal like Japan, even though bitcoin is not the one with many features yet, it has a high price only for been the first, but smart contracts from Rootstock are been developed and this will attract more users...
yes in fact by accepting bitcoin as legal currency by the japan now the other countries may also be thinkin about the legalization of bitcoin. I am sure that very soon they will also take a very positive step about bitcoin and the price of bitcoin will again become skyrocket. may be other countries have already start thinking about the legalization of bitcoin. as their people have already accepted bitcoin.

Of course this is a good thing if many countries provide support and give legality to bitcoin.
And it seems that this will have a positive impact on the progress of bitcoin both in terms of popularity and of course will get a stable price.

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June 08, 2017, 07:33:19 PM
 #25

Monkey see monkey do, so in other words, many countries will adopt bitcoin because they see the leaders are making it legal like Japan, even though bitcoin is not the one with many features yet, it has a high price only for been the first, but smart contracts from Rootstock are been developed and this will attract more users...
yes in fact by accepting bitcoin as legal currency by the japan now the other countries may also be thinkin about the legalization of bitcoin. I am sure that very soon they will also take a very positive step about bitcoin and the price of bitcoin will again become skyrocket. may be other countries have already start thinking about the legalization of bitcoin. as their people have already accepted bitcoin.

Of course this is a good thing if many countries provide support and give legality to bitcoin.
And it seems that this will have a positive impact on the progress of bitcoin both in terms of popularity and of course will get a stable price.
yes we are expecting that bitcoin is going to be declare as legal currency but i think it will take some more time. because most of the countries are still thinking about the legality of bitcoin.and they can take any step after a lot of conformation and  studying every aspect of btcoin. its impact on a country economy, on their fiat currency and much more therefore it can really take some more time.
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June 09, 2017, 05:06:30 PM
 #26

The only way they will declare it legal is if they can track and tax every transaction. That means tying an identity to each bitcoin address. I doubt anyone wants that.
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June 10, 2017, 11:29:20 AM
 #27

I don't think it would.. Not just for the sake of legalization but its a decentralized cryptocurrency.. Don't u agree??? Huh Huh
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June 10, 2017, 02:48:20 PM
 #28

AFter some months when All other big country have used the bitcoin as currency and are running perfectly after this only India will start to think of legalizing Bitcoin. Because India never takes first step for any new ideas.














 

 

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June 10, 2017, 03:00:41 PM
 #29

AFter some months when All other big country have used the bitcoin as currency and are running perfectly after this only India will start to think of legalizing Bitcoin. Because India never takes first step for any new ideas.

There might be reasons for that.
It is a risk, maybe that is what they are thinking.
Too much of capital is needed. One more good reason.
Being a country with a low value of currency will make it hard to adjust specially their technology.
Japan could do it because they have been one of the countries with great technologies.
It will be easier for them to make good use of bitcoin.

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June 17, 2017, 12:37:49 AM
 #30

I think most goverment consider bitcoin legal nowadays. Bitcoins growth and transformation is massive with tremendous amount in Capitalization, lot of traders are into it and it will contribute economically of course.

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June 17, 2017, 06:13:10 AM
 #31

the problem is, without 1984 Orwellian control of the internet how would a centralized government declare bitcoin ILLEGAL?

Just from my knowledge of federal legal statues here and how they are passed it requires enormous political capital requiring confirmation super-majorities (2/3) in the house and the senate, an executive sign-off AND a majority supreme court decision.

Basically the enormous burden of proof will have to fall on elected officials and legal experts with 20+ minimum experience practicing in the field to cite good cause as to how and why they should ban the currency, if they even can, how these regulation/criminal code changes will be executed/implemented and what to do with those U.S citizens that have a stake invested in bitcoin in which they have 0 probable cause to seize such as a commodity. Just sounds like even if it was illegal the burden of proof would be enormous to be able to convict beyond a reasonable doubt the use of bitcoin especially when people get better with security methods such as using tor and linux-based operating systems as well as the manner in which they browse (different cpus, thumb drives, changing IPs as well as using wireless that either doesnt belong to you or are public hot spots).

Legally speaking even IF the regulations were CLEARLY spelled out word for word the execution and interpretation of this law (indictment and conviction under a jury-trial giving the defense every legal opportunity awarded to him) is virtually impossible, even for a government as big and powerful as the U.S. Hell even China couldnt do this which is why ppl are finally putting real value and equity (or transferring should i say) into BTC... the foundation of the method of exchange, ledger and storage of such currency is just too sound and the security will only get BETTER over time.

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June 19, 2017, 02:29:12 PM
 #32

For my own reason or opinion,I think It will be declared as Legal in a open country and in an short finance country.Because bitcoin can increase the value of your money and these can help people to rely on their minds in financial status.So I think it will be legalized

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June 19, 2017, 09:59:57 PM
 #33

Right Now its Fully ilegal Maybe in the next few years will be legal. Given the increasing bitcoin users and also the practical bitcoin to do the transaction plus the other features that make it easier for bitcoin users. And this time the blcokchain start in india money of crypto currency work in india. Then After few Years bitcoin and also more some coin will legal in india.
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June 20, 2017, 01:18:01 AM
 #34

depends what you mean by legal.. australian, swiss and china have already legalized it

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June 20, 2017, 08:53:17 AM
 #35

AFter some months when All other big country have used the bitcoin as currency and are running perfectly after this only India will start to think of legalizing Bitcoin. Because India never takes first step for any new ideas.


Yes you Right.  But I can tell this india start work with blockchain .. the are create TCC crypto Currency. ASAP then create new invention for his country .
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June 20, 2017, 07:49:46 PM
 #36

I don't think we would see Bitcoin being declare as legal during this couple of years, maybe it can happen in the future

I think same as you, it's need time to become totally legal
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June 20, 2017, 08:29:02 PM
 #37

Maybe in the next few years will be legal. Given the increasing bitcoin users and also the practical bitcoin to do the transaction plus the other features that make it easier for bitcoin users



Yes.. Next few years bitcoin and also blcokchain business approve in many country. because its grow up day by day and and people interested more and more. just few days Malaysia country  use 35% use bitcoin.   
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June 20, 2017, 10:41:53 PM
 #38

iNDIA  declaring bitcoin as legal is not possible at this time till some country implement it and prove the positive sides they wont take risk and in India the government is corrupt so they wont give bitcoin legal status until they find it profitable for them.


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June 20, 2017, 11:11:42 PM
 #39



Well here I would like to suggest everyone , whether he is Indian or not , just support Bitcoin  at www.mygov.in   resister your account and say about the Bitcoin .
And tell them that Bitcoin is a best option to destroy the system of the black money , because everything is open to see .


I have done so. My account is registered and I personally believe Bitcoin is a good option to rid the world of black money too. Because of its consensus system, it prevents the creation of new Bitcoin. This converts to a deflationary currency too. This can help with India's inflation and perhaps strengthen the economy. Maybe Bitcoin will be accepted soon. Once we make the Indian government aware of the advantages of Bitcoin, I presume that they would accept Bitcoin. I mean they have no reason not to. Bitcoin only provides advantages to them. But saying that, I don't think they would abolish fiat either.
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June 21, 2017, 05:47:48 AM
 #40

iNDIA  declaring bitcoin as legal is not possible at this time till some country implement it and prove the positive sides they wont take risk and in India the government is corrupt so they wont give bitcoin legal status until they find it profitable for them.

my Indian friend and of course a bitcoiner told me that this upcoming June 30, India will be legalize bitcoin.
That's good news and we should expect another climb in bitcoin. Hurray!  Grin

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