Bitcoin finally legal in India

[EddyGameta]

i think this is very good news for bitcoin users from india because they can do transactions with ease and there is no fear to violate the law, i hope the government of other countries will quickly legalize bitcoin like in india.
maybe this can be an inspiration to other countries that not dared yet to legalize bitcoin.

[Phildo]

perhaps a country that legalizes the bitcoin knows there is a lot of beneft from bitcoin and gives the opportunity to introduce bitcoin to the people of that country who have no clue about bitcoin because many countries have legalized bitcoin

[damrianto]

India is one of the developing countries that can legalize this bitcoin. later this will be a model for all countries in the world to join this bitcoin legalize. and usually later bitcoin will become a currency in the world.

[fiulpro]

Over a million people In India knows about bitcoins and uses it.

Between since India is a democratic country with preety lenient laws there wasn't even a doubt that the situation would have taken another course.

Also it was never illegal to not use bitcoins in India, it was already taxable.

Since the government has decided To make it legal its going to support the bitcoin economy for the long run.

with this maybe new wallets like zebpay could be introduced with increased chances of getting what we really earn because zebpay uses a lot of btc as its fee and thats not right.

[Neytiri]

finaly good news the cryptocurency revelotion is taking over

[Netnox]

India is one of the developing countries that can legalize this bitcoin. later this will be a model for all countries in the world to join this bitcoin legalize. and usually later bitcoin will become a currency in the world.

A number of developing nations have already legalized Bitcoin. But from what I have heard from some of my Indian friends, the government has remained opposed to the legalization of crypto-currency. They are afraid that the Bitcoins will be used for illegal activities such as the sale of narcotics, tax evasion, hiding of wealth and ransom payments.

[fishbonez11]

just imagine, if 100 million of them buy $100 worth of BTC each.. thats some crazy mcap addition to the crypto world 

India is the second most populated country in the world as of to date and is projected to be the most populated country bu 2022. If many of them would buy bitcoin, then what great increase could bitcoin price possibly be! After Japan, I thought that similar more developed countries would follow. Definitely, what India did would pose as an example to uts neighboring countries.

[stompix]

India is one of the developing countries that can legalize this bitcoin. later this will be a model for all countries in the world to join this bitcoin legalize. and usually later bitcoin will become a currency in the world.

India can't be a model as it was not the first one to do this.
And they missed the train to be a model in at least one thing cause there are one billion you should not do like India.

Over a million people In India knows about bitcoins and uses it.

Proof about this claim?
There are currently 250k transactions a day in the chain.
If 1 million Indians would make a tx every 4 days thee would not be space left for anyone else in the world.

just imagine, if 100 million of them buy $100 worth of BTC each.. thats some crazy mcap addition to the crypto world  

India is the second most populated country in the world as of to date and is projected to be the most populated country bu 2022. If many of them would buy bitcoin, then what great increase could bitcoin price possibly be! After Japan, I thought that similar more developed countries would follow. Definitely, what India did would pose as an example to uts neighboring countries.

Population means nothing.
1 billion people and the entire GDP is barely half of Germany with 80 millions.

[koralan]

Wonderful, my congratulations! But I thought that China would be the first to take this step.

[Maria_Martin]

A ponzi scheme works by using money from new people to pay out returns to early members.  Bitcoin doesn't work like this at all.

[ekoice]

Earlier,indian police caught five youths for using drugs.Unfortunately,they were found to use bitcoins for buying those drugs.Further,adding fuel to the fire,a member of indian parliament termed bitcoin as  ponzi scheme and asked government to announce it as illegal.Indian government was also thinking of announcing bitcoin illegal at that time.but,suddenly,it took a U-turn and has finally decided to legalize bitcoin and now has framed a committee to give recommendations to legalize bitcoin.The time frame given to that committee was about six months and we could hope that within two or three months,bitcoin to get legalized.

[aisyah88]

steady and really extraordinary if in India already in legal bitcoin we just wait in other countries for legal bitcoinnya ... congratulations for India which is already legal bitcoin

[DimaS1574]

How it happened  when  when  goverment accept bitcoin as a legal. I mean  does govermen issue  special document or law? 

[Aufar]

India is a democratic country with its light and preety laws,
Because his government has decided to legalize Bitcoin,

We also hope that Indonesia will legalize Bitcoin.

[Olalomi]

Adoption of bitcoin by india is a welcome development going the population of india this will further boast the global acceptability of bitcoin.

[howtobuy]

Can somebody send me links to largest Indian exchanges? Is there any arbitrage opportunity?

[Wulanayu]

wow .... I'm happy to hear it. So with this bitcoin show its existence, hopefully more and more countries will receive bitcoin, to make it easier for bitcoin farmers.

[sirmitchel]

This is good news for our community I hope more country will legalize bitcoin so that it will be more popular and more people will be interested in investing and using bitcoin.

[xandriel]

This is an old information, but it's good. Besides Pakistan, China, Hongkong, Japan, Taiwan, South Korea,...Which India accepts BTC will help more and more investors feel more confident in Bitcoin.

[cybersofts]

India has recognized bitcoin already as a legal form of payment. However, the sad thing is that, just like gold, the Indian government is also imposing tax on it. The government of India has really likened bitcoin as an asset whose value will be rising constantly.

How the government will control the asset as bitcoin? All banking transactions pass through the Central Bank and can be monitored. But due to the large number of transactions the government can't even track 100% of transfers in Fiat. Monitor transactions in bitcoins do not really.

India has recognized bitcoin already as a legal form of payment. However, the sad thing is that, just like gold, the Indian government is also imposing tax on it. The government of India has really likened bitcoin as an asset whose value will be rising constantly.

Bitcoin is finally going mainstream in India. Congrats to all Indian bitcoiners.
This is the welcome development of indian people and the government as well because bitcoin will also help in improving the economy.
Countries where bitcoin is illegal should copy the style of India. Bitcoin for sure the currency of the future and there is no doubt about it.
Bitcoin is peer-to-peer digital currency that is fast, secure, decentralized, cheaper transactions, and acceptable worldwide.