Will Bitcoin will be declare as legal or not ?

[raidarksword]

Bitcoin is legal for sure, it just that there are people using bitcoin in illegal ways and that's not really a good image for bitcoin and must be a stop for once one for all. Many fall for bitcoin scam programmed that managed by greedy people all wanted to have their selfish ways to earn money. Some countries now accepted bitcoin and hopefully there will more accept it in the near future to come.

[1714951341]

1714951341

[Ojengonggu]

maybe India is one of the countries that is still hesitant with digital technology (bitcoin) but the government must be able to see the people there who have used bitcoin as a trade and investment for the majority of the population and maybe just waiting for time the Indian government will take a firm stance legalize bitcoin and cryptocurrency

[ruthbabe]

My understanding is that the usage and/or status of Bitcoin in India is legal as it is not yet decided by the court as they gave the government until September 11 to respond to all petitions... "India’s Supreme Court heard the petitions against the crypto banking ban by the Reserve Bank of India (RBI) today. After hearing some arguments from both sides, the court decided to set another hearing date, allowing some of the regulators involved to respond to the petitions." See more for yourself here.

[hacekd]

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 .

All risks related to the ownership / use of Bitcoin are borne by the owner / user of the Bitcoin and other virtual currencies themselves, because Bitcoin is one of the crypto currencies that uses a block chain or blockchain system, if the problem is legitimate or not it depends on the country itself, because the country has the right to determine it .

[coldplay3r30]

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

maybe the use of bitcoin has been very broad and some countries have recognized and used it for legitimate exchange tools, but there are still many countries that still reject the use of bitcoin, especially poor countries and underdeveloped countries, and there are still many areas that have not been touched by sophisticated technology and purchasing systems and their sales are still traditional and still use conventional currencies

I think the use of bitcoin is only limited to developed countries, for developing countries it is likely that it still takes a long time.

[Entratish]

I dont think no government will declare bitcoin legal in India after demonetization in India, Indian government had to reply lots of questions if government declares bitcoin legal then first they have make people educate Indian people what is bitcoin and then have to answer their lots of question so I think it is not possible in India.

[LimeFeline]

Bitcoin is a type of money. Do we ever ask ouselves if money is legal or not? No. Money is legal however people can use it in an illegal way. The same with Bitcoin and any other cryptocurrency.

[Entratish]

Bitcoin is a crypto currency which we use as a money but some governments does not recognize. If some body make plastic coin can u use that without government declare it as a legal tender?? 

[Madara_Uchiha]

At present, there are countries that have already legalized bitcoin and crypto-currencies, but not everywhere they have the status of money. In some countries, the crypto currency has been given the status of private property.

[Inasal03]

I think other year or soon will be declare as legal this bitcoin now a days many peoples joining here trusting bitcoin also the other country they accept bitcoin as long as the government they accept already. So this bitcoin is a legal cryptocurrency were supporting this bitcoin many peoples need this we have a big profit here.

[michellee]

I guess that many countries were declared bitcoin as a legal and some of the country still not gives any statement. but soon, after they are finished learning about bitcoin, the other country will declare bitcoin as a legal too and maybe this will go to happen in the next year. we can only wait for the country gives the statement about bitcoin and we cannot push every government to declare bitcoin to be legal because the government controls the regulation of every country so we need to be patient for this.

[alex.ac.ab]

Someday it will happen.

[F_Ivanov1993_]

We are already close to this, many countries are finally beginning to understand that changes are needed, otherwise an economic crisis will happen again.

[wiro 212]

For now bitcoin is not yet legal as a currency, maybe in the future if the government can accept bitcoin then bitcoin can be legitimated as a currency and can be used as a transaction tool.

[1BTC EQUALS 1CAR]

My country sees a great potential in it and our local banks are willing to even partnerships with other cryptocurrencies. It is still not regulated or legal but with the positive news that keeps coming, I know eventually it will.

[KorakPawon]

I'm sure bitcoin will be declared as the legal currency someday, but reading about the thoughts shared, the idea that it will be legalized seems true. the problem is, the government still have a doubt on it, they haven't have enough bravery to take risks, and haven't positive fully about the benefits of bitcoin as the currency.

[cityboy6836]

When government is ready to take a decision, no one will force them and I would suggest preempting their decision line is not the best as this would lead to unnecessary speculation which is going to further worsen the volatility issues surrounding bitcoin at the moment.the problem is, the government still have a doubt on it, they haven't have enough bravery to take risks, and haven't positive fully about the benefits of bitcoin as the currency.

[Rooster101]

It still depend on a type of government because every country has its own laws or regulations on currency. Most wealthy nations are inclined to allow the use of bitcoin and some of them are already legalized bitcoin as one of their currency. Other countries restricted the use of bitcoin because in their own laws, the cryptocurrencies are illegal.

[ephelants360]

hey guys, there is a piece of news today, we can discuss further.
If we consider big banks as institutions in the USA,
and they support or even encourage trading with crypto currencies,
can we infer it is a first step in the legalization?
Have a look at this
https://cointelegraph.com/news/bloomberg-morgan-stanley-plans-bitcoin-trading-for-clients

[xyxyrizcah]

in some countries it is legal but in many bitcoin countries it still has been said illegal, but with the development of bitcoin I hope bitcoin will be legalized in the world.