[2017-05-31] INDIA COULD ‘LEGALIZE’ BITCOIN NEXT AS PUBLIC CALLS FOR REGULATION

[sheld0n]

The online comments section, which is to run for 10 days, has already received nearly 4,000 submissions since it was launched on May 21st.
The areas polled are: whether Virtual Currencies (VCs) should be banned, regulated or observed? In case VCs are suggested to be regulated, then what measures should be taken to ensure consumer protection, promote development and also which institution should be monitoring and regulating them?
http://bitcoinist.com/india-legal-bitcoin-next-regulation/

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[InvoKing]

At the same time, Bitcoin appears to be spreading rapidly in India, which can be see by a constant rise in trading volumes and increasing merchant adoption throughout the country.

Increasing merchant and an increasing number of users is good for bitcoin and could give a good push toward its adoption
The sick part is that it requires a political approval!

[Gotottack]

At the same time, Bitcoin appears to be spreading rapidly in India, which can be see by a constant rise in trading volumes and increasing merchant adoption throughout the country.

Increasing merchant and an increasing number of users is good for bitcoin and could give a good push toward its adoption
The sick part is that it requires a political approval!

And politicians don't want to approve anything without them benefiting from it. If they do approve it, they will position themselves in a good position to benefit from it. So in this case they will not buy bitcoins first then approve the laws and regulations that should be passed. Typical in most political societies in the world.

[joshy23]

At the same time, Bitcoin appears to be spreading rapidly in India, which can be see by a constant rise in trading volumes and increasing merchant adoption throughout the country.

Increasing merchant and an increasing number of users is good for bitcoin and could give a good push toward its adoption
The sick part is that it requires a political approval!

And politicians don't want to approve anything without them benefiting from it. If they do approve it, they will position themselves in a good position to benefit from it. So in this case they will not buy bitcoins first then approve the laws and regulations that should be passed. Typical in most political societies in the world.

I think we are going to see a full scale war regarding the fate of bitcoin is India. Bitcoin lover over there pushing it to be as least regulated, on the other hand, politicians wanted it to be ban because they say it is used for illegal activities like the recent hacking, ponzi schemes and others. So its gonna be bloody and messy. So we just have to wait who will be the last man standing, unscathed.

[aso118]

While the authorities do usually ask for the public's opinions on contentious issues, the end decision is made by so-called experts. There are a lot of politicians who are lobbying against Bitcoin currently. They could easily influence the decision makers.

[Omega Weapon]

While the authorities do usually ask for the public's opinions on contentious issues, the end decision is made by so-called experts. There are a lot of politicians who are lobbying against Bitcoin currently. They could easily influence the decision makers.

The decision is never made by experts, the decisions are taken by politicians because that is their job they cannot delegate to anyone, that is why they got elected, at best they will consult experts about the topic and then form their own opinion and based on it take a decision, but we know that it does not work like that since politicians are only looking at ways to benefit themselves.

[Siren]

While the authorities do usually ask for the public's opinions on contentious issues, the end decision is made by so-called experts. There are a lot of politicians who are lobbying against Bitcoin currently. They could easily influence the decision makers.

The decision is never made by experts, the decisions are taken by politicians because that is their job they cannot delegate to anyone, that is why they got elected, at best they will consult experts about the topic and then form their own opinion and based on it take a decision, but we know that it does not work like that since politicians are only looking at ways to benefit themselves.

Its still the politician will that will be follow here. A lot of them are anti-bitcoin, so for me it will be a uphill climb before they will approved or even legalized it in their country. Maybe even the so called expert consultant is not expert all. Politicians have already made up their mind on it. Bitcoin is illegal for them. And of course it will not benefit them as you pointed out which makes sense for them to go against it.