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topper26 (OP)
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June 20, 2017, 11:29:48 PM |
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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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cengsuwuei
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June 20, 2017, 11:39:49 PM |
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i think is very good information if india country ready regulation bitcoin
but is not big impact to bitcoin price, if USA reagulated bitcoin, is very big impact to bitcoin price
because USA super power country, and big exchanger from USA, sample poloniex, bittrex and coinbase
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BitcoinerXX
Member
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Activity: 94
Merit: 10
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June 20, 2017, 11:58:46 PM |
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this is wonderful newz  |
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wdnj
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June 20, 2017, 11:59:42 PM |
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Recently Japan has legalized the bitcoin then Australia is expected to legalize the bitcoin this July and now India. This is a good news about the crypto world as the trending is getting continued and I hope more and more countries will legalize the bitcoin. By accepting bitcoin I think that soon we will see that also other coins will be legalized as well like ethereum, litecoin etc. |
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bartolo
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June 21, 2017, 12:03:58 AM |
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This news can produce a new bitcoin rally. It would not be strange to surpass $ 3500 dollars. It´s interesting to see how trading volumes have grown in recent days, there are always people who know things before others.
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NoNetwork
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June 21, 2017, 12:38:32 AM |
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I though this was implemented long time ago in india. India is one of the countries that has a lot of users of bitcoin. This will great affect the price of bitcoin and then again, here comes the pump everyone. |
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Janation
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June 21, 2017, 12:43:22 AM |
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Wow, this is a very good news in the morning. This was a news in the past months too, India legalizing bitcoin so it is not that surprise to me. When Japan announced that they will legalize bitcoin, India and Russia are rumored to be the next country to accept the digital currency. I though it was just a rumor or a presumptive news, but now it is real. |
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Quail
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June 21, 2017, 01:07:30 AM |
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i think is very good information if india country ready regulation bitcoin
but is not big impact to bitcoin price, if USA reagulated bitcoin, is very big impact to bitcoin price
because USA super power country, and big exchanger from USA, sample poloniex, bittrex and coinbase
I agree it doesn't match up to the US accepting it. India is still a huge country and economy though, plus they are hugely keen on storing wealth outside of fiat - gold etc., and spending cash outside of banks. The government has made moves to steer them away from a cash economy in recent times. Bitcoin will appeal to a lot of Indians. |
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FlightyPouch
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June 21, 2017, 01:13:36 AM |
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i think is very good information if india country ready regulation bitcoin
but is not big impact to bitcoin price, if USA reagulated bitcoin, is very big impact to bitcoin price
because USA super power country, and big exchanger from USA, sample poloniex, bittrex and coinbase
I agree it doesn't match up to the US accepting it. India is still a huge country and economy though, plus they are hugely keen on storing wealth outside of fiat - gold etc., and spending cash outside of banks. The government has made moves to steer them away from a cash economy in recent times. Bitcoin will appeal to a lot of Indians. I think they are really planning to make their economy high. As you've said India is one of the countries that hugely keen on storing wealth like gold, if bitcoin was added in that, I think their economy will really pump up. There are many business man and intelligent person here, I know with these amny will investing on bitcoin and will be using it too. |
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sweetdesirez
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June 21, 2017, 01:15:37 AM |
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The topic title is misleading, implying that Bitcoin is illegal in India as of now and the government will be legalizing it. The fact is, bitcoin is not illegal in India under any law or ordinance. Some politicians, mostly of the present ruling party are against bitcoins.
What is to be seen is, will the government recognize Bitcoin as a currency or not. If it does, then there will be restrictions automatically imposed under the current FEMA laws.
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botany
Legendary
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Activity: 1582
Merit: 1064
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June 21, 2017, 01:15:43 AM |
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Probably click bait. No other news source seems to be reporting something like this. A government committee has to give its views on virtual currencies, following which the government will take a decision. |
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sweetdesirez
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June 21, 2017, 01:27:53 AM |
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Probably click bait. No other news source seems to be reporting something like this. A government committee has to give its views on virtual currencies, following which the government will take a decision. Rightly said, perhaps OP missed this part of the article: On June 20, CNBC India announced that the Indian government committee has ruled in favor of regulating Bitcoin and is currently establishing a task force to create various regulatory frameworks with the aim of fully legalizing Bitcoin in the short-term.
The government is not legalizing bitcoins, as bitcoins is nothing illegal so far declared, they are finding options to regulate bitcoins. If the regulation is done in a constructive way, it will be a huge boon, but if the government imposes restrictions, then it will not be a pleasant situation for Indian bitcoiners. |
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SONG GEET
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June 21, 2017, 01:37:00 AM |
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Legalization = Regulation = Limitation = Monitoring = Frozen accounts
All of the above things are connected and are not good for bitcoin users, the sole purpose of bitcoin is to provide financial freedom and with all this regulation and constant monitoring of all transactions bitcoin anonymity will be just pseudo anonymity.
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Shinpako09
Legendary
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Activity: 1988
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June 21, 2017, 01:38:23 AM |
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i think is very good information if india country ready regulation bitcoin
but is not big impact to bitcoin price, if USA reagulated bitcoin, is very big impact to bitcoin price
because USA super power country, and big exchanger from USA, sample poloniex, bittrex and coinbase
It would still have an impact wether it's a big country or not. That would leave or have a good impression on bitcoin still. Adding them on the list of country regulating or legalizing bitcoin is a good one because other country might follow, big or not as long as they see other country doing that. |
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Faiyz
Sr. Member
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Activity: 392
Merit: 250
Dijual
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June 21, 2017, 01:48:13 AM |
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i think is very good information if india country ready regulation bitcoin
but is not big impact to bitcoin price, if USA reagulated bitcoin, is very big impact to bitcoin price
because USA super power country, and big exchanger from USA, sample poloniex, bittrex and coinbase
It would still have an impact wether it's a big country or not. That would leave or have a good impression on bitcoin still. Adding them on the list of country regulating or legalizing bitcoin is a good one because other country might follow, big or not as long as they see other country doing that. Technically also India can be determined as a big country, not necessarily rich but still it would make a great campaign for Asian countries adopting bitcoin. A lot of Asian countries lately are having bitcoin in the news this past couple of months. Even if the US is the center of trade even in bitcoin it is still a big issue on how many countries will accept rather than legalize it totally. |
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ladydark
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June 21, 2017, 02:19:05 AM |
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Thats really a great news.I am also from india.There has been a great discussion going on in government sectors for a long time whether to legalize bitcoin or not.India being the second largest populated country in the world would definitely have a positive impact on bitcoin progress.Already, we saw that bitcoin prise rose high after japan legalized bitcoin.
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Ken1022
Newbie
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June 21, 2017, 02:32:21 AM |
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Thats really a great news.I am also from india.There has been a great discussion going on in government sectors for a long time whether to legalize bitcoin or not.India being the second largest populated country in the world would definitely have a positive impact on bitcoin progress.Already, we saw that bitcoin prise rose high after japan legalized bitcoin.
This actually came as a surprise for allot of members, since as you suggest, the government there is adamant in its legalization ever since... not the case now however! I praise this difficult but necessary addition. These are good waves for bitcoin value, and opportunity for its users in India. While most were focused on Australia's own adoption and the coming Segwit vs hard-fork, this was severely overlooked. i think is very good information if india country ready regulation bitcoin
but is not big impact to bitcoin price, if USA reagulated bitcoin, is very big impact to bitcoin price
because USA super power country, and big exchanger from USA, sample poloniex, bittrex and coinbase
It would still have an impact wether it's a big country or not. That would leave or have a good impression on bitcoin still. Adding them on the list of country regulating or legalizing bitcoin is a good one because other country might follow, big or not as long as they see other country doing that.I do love it when psychology comes into play. It's a somewhat wide-scaled version of the bandwagon effect, where when one group is doing a trend(especially if that trend gives them a sense of "edge"), more groups follow suit. All good news for Bitcoin... for now. |
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nydiacaskey01
Legendary
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Activity: 1834
Merit: 1036
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June 21, 2017, 03:01:25 AM |
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There's 2 sides of the coin here. It's good news because this will open new doors to businesses to accept Bitcoins as payment and for Bitcoins holders to spend their BTCs in more establishment. It's bad news because since Bitcoin will be legalized, it means Bitcoins will be regulated and once the Government started to regulate, they start asking who are those using Bitcoins which means goodbye to anonymity. However, this will open doors again to those who plans to exchange BTC's to other mode of Payment but of course with a higher fees just like with Virwox is doing.
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RoommateAgreement
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June 21, 2017, 05:14:38 AM |
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meh, it is dissapointing because a known shit news site has posted this so i wouldn't bother reading it. and i don't get the title either, it is not really "suddenly", it proves cointelegraph is once again posting random stuff without researching. Indian have been debating what to do about bitcoin for a long time now. they have multiple good exchanges and a very large trading volume with the price even higher than USD markets (about 10% higher). there have even been a couple of petitions in the past couple of months to make bitcoin officially legal. so yeah, apparently months and months of work to CTL means suddenly |
Buying the dip...
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timerland
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June 21, 2017, 07:12:45 AM |
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It is quite weird, because earlier in the year Indian exchanges had one of the highest bitcoin prices compared to worldwide bitcoin exchanges, indicating that capital is leaving the country fast and government obviously does not want you to use bitcoin. But now, they are trying to legalize it. I think that Australia and Japan's decisions have affected the Indian government's thinking a lot, they do not want to get left behind in this world where technology is king, and if you are behind on the latest updates, then your country will suffer. This is an extremely good move, and i believe that a country that will probably exceed China's population by mid-century legalizing bitcoin is great news. Although the article says that it's going to be regulated by the government instead of being a self-regulated market, and that could be a cause of concern. We don't want intervention from governments. |
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