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Author Topic: Will Bitcoin will be declare as legal or not ?  (Read 6980 times)
Zohina
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August 03, 2018, 02:31:25 AM
 #241

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 .


actually the Indian government is well aware that the cryptocurrensy currency cannot be banned and regulated by any country, so the government may be studying the workings of the digital currency, and is preparing technology support for that in the future, the government will surely follow the steps of developed countries like Japan, America, and other developed countries are starting to use bitcoin currencies, and it is very likely that the government will also make their own cryptocurrency currency, we can see the next five to ten years.
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suzanne5223
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August 03, 2018, 09:35:47 AM
 #242

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 .


actually the Indian government is well aware that the cryptocurrensy currency cannot be banned and regulated by any country, so the government may be studying the workings of the digital currency, and is preparing technology support for that in the future, the government will surely follow the steps of developed countries like Japan, America, and other developed countries are starting to use bitcoin currencies, and it is very likely that the government will also make their own cryptocurrency currency, we can see the next five to ten years.
Although, this is a longtime thread but I don't see the Indian government issuing their cryptocurrency in the future because the India government are traditional. However, no one know yet about there plan towards the cryptocurrency regulation until it September because it was stated in their message that they are after protecting their from cryptocurrency scam.

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August 03, 2018, 03:19:11 PM
 #243

Government will agree to legalize it, if they would be able to monitor/regulate it. There are a lot of users now but majority of people are still unaware or don't use cryptocurrency and those majority are governments priority.

They see crypto as a possible threat as it's anonymity could be used in criminal activities as stated by some government officials in some country.

A lot scamming cases arises recently involving crypto's which is not a good news in the community.
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August 04, 2018, 12:45:27 PM
 #244

Yes,  bitcoins will be declare as legal
But matter of fact is that it can take time government is seeing all the pros and cons of making bitcoin legal.
After some research government can declare it a legal activity
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August 04, 2018, 02:49:05 PM
 #245

Finance minister,in his budget speech on 1 February 2018, stated that the government will do everything to discontinue the use of bitcoin and other virtual currencies in India for criminal uses. He reiterated that India does not recognise them as legal tender and will instead encourage blockchain technology in payment systems.

"The government does not recognise cryptocurrency as legal tender or coin and will take all measures to eliminate the use of these cryptoassets in financing illegitimate activities or as part of the payments system," Jaitley said.
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August 07, 2018, 08:47:22 PM
 #246

All I know is one of the major factor that will influence government decision is that tax that will be generated and how it will be done by the exchange site. due to his popularity & increasing growth in international market, time comes shortly when its become worldwide currency.
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August 07, 2018, 11:42:42 PM
 #247

It's a matter of the majority users who benefits from it and if these users would agree to regulate bitcoin by the government.

No government would allow something that they could not control. Government needs to have power in most of the things or else they would go to war from it. Like for example Resources and nuclear weapons.

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August 08, 2018, 08:34:09 AM
 #248

i won`t be surprised if they will create their own "legal" crypto (something similar to ripple)
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August 08, 2018, 06:55:45 PM
 #249

Yes,  bitcoins will be declare as legal
But matter of fact is that it can take time government is seeing all the pros and cons of making bitcoin legal.
After some research government can declare it a legal activity
I think that at the beggining there could be some countries which will not be that "nice" about making it legal but after some times they could just easily follow the trend which other goverments will make.

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August 09, 2018, 02:05:49 AM
 #250

Yes,  bitcoins will be declare as legal
But matter of fact is that it can take time government is seeing all the pros and cons of making bitcoin legal.
After some research government can declare it a legal activity
In some countries it has been declared to legalize bitcoin because they can take advantage of it, some countries still have not taken action, some others still prohibit it because they think it's a threat, I think that mindset will change soon, the government will start legalizing crypto, believe me

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August 09, 2018, 04:35:56 AM
 #251

Yes,  bitcoins will be declare as legal
But matter of fact is that it can take time government is seeing all the pros and cons of making bitcoin legal.
After some research government can declare it a legal activity
In some countries it has been declared to legalize bitcoin because they can take advantage of it, some countries still have not taken action, some others still prohibit it because they think it's a threat, I think that mindset will change soon, the government will start legalizing crypto, believe me

I agree with you, the country that has been declared to legalize bitcoin will take the benefits of bitcoin and maybe they can apply the tax for bitcoin user so it means, they can get another income for their country. I am sure that the other country will follow their step and the cryptocurrency and bitcoin will walk together with fiat because cryptocurrency has a big chance to be legal in all country. besides that, cryptocurrency can be the next currency in all country too because soon, the technology will be better so the cryptocurrency has a big chance to be used in our life.
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August 11, 2018, 12:57:21 PM
 #252

The number of people who want to see bitcoin currency is getting bigger, but the government of some countries is preventing it.
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August 12, 2018, 05:08:23 AM
 #253

At the point when government is prepared to take a choice, nobody will compel them and I would recommend appropriating their choice line isn't the best as this would prompt superfluous theory which will additionally exacerbate the unpredictability issues encompassing bitcoin right now. All I know is one of the central point that will impact government choice is that duty that will be created and how it will be finished by the trade site. The minute this has been accomplished each other thing will fall in line.
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August 12, 2018, 06:52:08 AM
 #254

I do not see any question for bitcoin to be legal. This is a good part of cryptocurrency. and there are no cases I can think of to impose on it.

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August 12, 2018, 07:23:43 PM
 #255

One should not turn a blind eye to technological progress. Bitcoin takes some control from the state, but gives its citizens great advantages, thereby the state becomes more competitive and ultimately strong. As a result, sooner or later, states will have to adapt Bitcoin.

They will be forcibly to accept Bitcoin and blockchain in the future, especially when half of the people in global are using Bitcoin for their daily transactions and some of them use crypto more than the fiat.
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August 17, 2018, 11:47:30 AM
 #256

It is very difficult to say what will happen in the future with crypto-currencies, because they are very unpredictable. There are many opinions and each of them is justified and well-grounded, but these opinions are different. So I think that in time we will see everything ourselves.

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August 17, 2018, 12:14:43 PM
 #257

Yes,  bitcoins will be declare as legal
But matter of fact is that it can take time government is seeing all the pros and cons of making bitcoin legal.
After some research government can declare it a legal activity
Right of course, all countries will legalize it. I believe that, but of course it will take a long time because the state will not legalize until the era of technology  will come where digital currency becomes take over, so bitcoin will become famous later and will be legalized..

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August 17, 2018, 05:34:54 PM
 #258

I think we will see in time. But it seems to me that it is unlikely, because it is almost impossible to control the crypto currency.

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August 17, 2018, 06:50:37 PM
 #259

Potentially, the market of crypto-currencies in India can reach a mammoth size, given the number of people. Of course, the middle class in India is not rich, very many people may want to invest. And state control by the government of India, will bring her a lot of preferences, and in the far-sighted version, this is a deliberate position.
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August 22, 2018, 06:46:34 AM
 #260

Already this Currency is legal in some countries, it's a matter of time
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