Bitcoin in India.

[meatygeiger]

There are countries who are yet to make this legal in their countries soon.

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[redshiftexpensive]

Bitcoin according to the government is decentralisation and hence they want to ban it.

[supercanada1]

Bitcoin / cryptos wil be huge in inida... as the popiulation is too huge and more populations means more mobile devices (money making machines)

Thirst for Bitcoin is greater in India than in other countries and besides it there are a lot of crypto coins designed in India called as Laxmicoin and many more because this is the interest of people in the crypto market. Due to this thirst the people are looking for Bitcoin as it is the most profitable and advantageous currency in the market. The demand for it has increased there and it will more increase when the illiterate people get awareness about the coin.

[mersal]

There are countries who are yet to make this legal in their countries soon.

Yes this is not a reason for banning crypto currency they said it is just not legalized by the government till now so hope they will consider crypto currency as a good development of money and recognize it.

[Stephen1989]

India is still on the middle, they haven't put a hammer ban at the same doesn't recognized bitcoin as legal tender. So they are still in the neutral side.

[SplendidHunter]

It is so bad in my opinion, that a bunch of people who even didnt deeply understanding how crypto operates, would decide for everybody in country what to do.

[Lpim01]

India is still on the middle, they haven't put a hammer ban at the same doesn't recognized bitcoin as legal tender. So they are still in the neutral side.

I really don't think that India will fully adopt on crypto, even though people are wanting to be a part of it but I don't see any assurance that their government will put some attention on it. It is getting useless also if there is no used of bitcoin in their country, and hopefully their government will see the goodness of crypto development.

[yoseph]

It is so bad in my opinion, that a bunch of people who even didnt deeply understanding how crypto operates, would decide for everybody in country what to do.

If that's the case then it's really bad for Indians as a whole, and if the government should decide to ban it, then the people should make sure that they vote out any anti-cryptocurrency government in the future.

[cryptomoon1004]

Indian government will reconsider / should reconsider its decision, but I also believe that the government in India will act pretty slowly depending on how other governments around the world react to the crypto space..

A government cannot be against cryptos when every other government around the world will become crypto friendly - from a regulation perspective..

[leavefifa]

In fact, India has issued a ban on Bitcoin. I think that the government of the country with a lot of technological development should reconsider this issue. They choose technology as one of the strengths of economic development, so why reject the Cryptocurrency market as well as Bitcoin. I am guessing that the government is considering completing the legal framework for Bitcoin, and in the future, the ban will be lifted.

[hubballi]

In fact, India has issued a ban on Bitcoin. I think that the government of the country with a lot of technological development should reconsider this issue. They choose technology as one of the strengths of economic development, so why reject the Cryptocurrency market as well as Bitcoin. I am guessing that the government is considering completing the legal framework for Bitcoin, and in the future, the ban will be lifted.

India have not declared ban on bitcoin but it have issued warning through RBI to all banks to close down the accounts trading in crypto currency but still if anyone is using bitcoin then it is on its own risk. As some exchanges have gone to legal fight against the notice of RBI to close down the cryptocurrency accounts. Still waiting for their responses.

[gambitcoin53]

As most of you might know that here, in India bitcoin is not considered as a legal tender.
As the Union Budget 2018 in India was announced on February 1 this month. The finance minister of India, Arun Jaitley's statement in that about cryptocurrencies in general was-
“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."

Here I just need to know why does the government not support cryptocurrencies. Gold is also not a legal tender and that too can be used in financing illegal activities but still it has a lot more advantages than this. Same as bitcoin has tons and tons of advantages for all!
What do you think about it? Is the government right for not recognising cryptocurrency as a legal tender! Or they should reconsider it?

it depends on which country, in india's case, they are not all out support for bitcoin because bitcoin is not widely recognozed by people, we all know that inda is a third world country, many people has no access on internet and maybe there are no merchants that accept bitcoin payments so it will not be possible for them to adapt cryptocurrencies.

[btcdevil]

As most of you might know that here, in India bitcoin is not considered as a legal tender.
As the Union Budget 2018 in India was announced on February 1 this month. The finance minister of India, Arun Jaitley's statement in that about cryptocurrencies in general was-
“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."

Here I just need to know why does the government not support cryptocurrencies. Gold is also not a legal tender and that too can be used in financing illegal activities but still it has a lot more advantages than this. Same as bitcoin has tons and tons of advantages for all!
What do you think about it? Is the government right for not recognising cryptocurrency as a legal tender! Or they should reconsider it?

it depends on which country, in india's case, they are not all out support for bitcoin because bitcoin is not widely recognozed by people, we all know that inda is a third world country, many people has no access on internet and maybe there are no merchants that accept bitcoin payments so it will not be possible for them to adapt cryptocurrencies.

How do you declare that India is a third world country, today they are the main exporter and importer of the world products. Other country are just thriving to do business with India. Until you dont get legal status of bitcoin in any country how will you expect the merchants to start accepting bitcoin.

What you are replying is totally baseless research you have about Indians status on Bitcoin. Today the price of Bitcoin in Indian exchange is more then 10 to 20% high. Still their are so many traders who are trading in bitcoin in India.

[hualangktsld841]

Every government's voice is a kind of protection for itself, and so is the India government. As the trading of bitcoin has become more and more active in recent years, we have seen some governments have begun to worry about the special currency market, because they are not getting the benefits from the bitcoin trade, and there is no way to control these transactions well.

[tetyulfania]

i have heard about bitcoin and how the condition of bitcoin member in India country, I am so sad to heard about how the situation of India country of bitcoin. the India government have take one bad action to stop and banned the bitcoin exchange market in their counrty, will be more sad for investment and trade of bitcoin in India now, we dont know how to withdraw our money to bank by using exchange bitcoin, because it was closed.

[dado7]

There is actually no country in the world currently where some cryptocurrency is considered as a legal tender. They are mostly left undefined or are treated in the same way stocks are. So don't worry. The problem with cryptos currently is their volatility. Would you really like to have a currency that unstable?
I presume you can use cryptocurrencies normally as tokens and that nobody is forbidding that?

[Eliyo]

As a country India is just being procedural like most other countries. Bitcoin has come to stay regardless of volatility. As the infrastructure on cryptocurrency improves with time, government policies and decisions are bound to change likewise. In as much as the government did not declare holding it as illegal, keep trading and building your volume up like shares. Time will surely tell.

[(o)(o)ilikeboobs(o)(o)]

There is actually no country in the world currently where some cryptocurrency is considered as a legal tender. They are mostly left undefined or are treated in the same way stocks are. So don't worry. The problem with cryptos currently is their volatility. Would you really like to have a currency that unstable?
I presume you can use cryptocurrencies normally as tokens and that nobody is forbidding that?

I think you are not fully updated about the cryptocurrencies development. Japan is the country who have declared Bitcoin and cryptocurrency as legal and the development is very high. Even some more country are their who have legalized it and even regulated the law for it. But india is afraid of it that is why they are giving instruction to bank to close the cryptocurrency traders account.

[balam007]

ncash will be the main cryptocurrency in india after the gov/ncash conference

[Ryanpogi]

Bitcoin in India .. bitcoin help in india. Especially in their economy. So let's get the bitcoin in India .. Thanks.