americandesi
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December 27, 2013, 02:20:30 PM |
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This may go against the Bitocins.
ED officials claimed that Gupta's company was registered on a fake address.
The officials also sealed the office of rbitco.in after its proprietor Nilam Doctor was not available. (Hope just at that time he was not available and not running away like his site rbitco.in) else there may arise a big trouble for bitcoin community.
Read the comments on that page. NilamDoc has commented saying he is frantically trying to contact the ED officials at the contact details pasted on the door of his office. Lets give him some benefit of doubt rather than jumping into conclusion that he is hiding. He is a reputed member of Indian Bitcoin Community.
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bitcoinisfurture
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December 27, 2013, 02:24:40 PM |
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I dint read any comments. Just read the article.
Well I am not jumping on any conclusion for you information, there is a separate thread which claims he is a fraud as far as rbitco.in. Also it may not be surprise after some days we need to to even co-relate the things. Lets hope this is not the case.
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Benson Samuel
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December 27, 2013, 02:29:44 PM |
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This may go against the Bitocins.
ED officials claimed that Gupta's company was registered on a fake address.
The officials also sealed the office of rbitco.in after its proprietor Nilam Doctor was not available. (Hope just at that time he was not available and not running away like his site rbitco.in) else there may arise a big trouble for bitcoin community.
Read the comments on that page. NilamDoc has commented saying he is frantically trying to contact the ED officials at the contact details pasted on the door of his office. Lets give him some benefit of doubt rather than jumping into conclusion that he is hiding. He is a reputed member of Indian Bitcoin Community. I agree this is larger than one individual.
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newIndia
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December 27, 2013, 03:16:49 PM |
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Some days ago someone reported that there was a RBI guy in conference. I am not sure what people (speakers) said about bitcoins there, but I guess they took "Anonymous transactions" "decentralized" features as a bad thing and this kind of action was expected as buysellbitco.in's monthly turn over was pretty huge.
I donno much about BTC, but it seems there were some conference regarding Bitcoin in India and since then authorities have gone mad about it. Dint u ppl arrange proper meal for them ? ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif)
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Benson Samuel
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December 27, 2013, 03:21:30 PM |
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Some days ago someone reported that there was a RBI guy in conference. I am not sure what people (speakers) said about bitcoins there, but I guess they took "Anonymous transactions" "decentralized" features as a bad thing and this kind of action was expected as buysellbitco.in's monthly turn over was pretty huge.
I donno much about BTC, but it seems there were some conference regarding Bitcoin in India and since then authorities have gone mad about it. Dint u ppl arrange proper meal for them ? ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) Food was awesome! :p
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newIndia
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December 27, 2013, 03:31:48 PM |
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Some days ago someone reported that there was a RBI guy in conference. I am not sure what people (speakers) said about bitcoins there, but I guess they took "Anonymous transactions" "decentralized" features as a bad thing and this kind of action was expected as buysellbitco.in's monthly turn over was pretty huge.
I donno much about BTC, but it seems there were some conference regarding Bitcoin in India and since then authorities have gone mad about it. Dint u ppl arrange proper meal for them ? ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) Food was awesome! :p It seems like Nilam Doctor and Mahin Gupta ate all. I have seen even big companies keep special arrangement for even a CA and u treated them like normal Bitcoiner and shared the food !!! Very bad. Now, the big brother is angry on the whole community ![Cry](https://bitcointalk.org/Smileys/default/cry.gif)
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bitcoinisfurture
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December 28, 2013, 09:07:38 AM |
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Any one who knew these guys tried to contacted them and asked what is happening currently?
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Benson Samuel
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December 28, 2013, 09:17:50 AM |
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Any one who knew these guys tried to contacted them and asked what is happening currently?
Don't think that they would be allowed to talk to anyone at this stage. I tried to ping and call Mahin, but no response.
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dc0ded
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December 28, 2013, 11:31:44 AM |
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Rs 20-30 crore spread over 400 people! That's kind of extremely huge transactions. I hope he was not actually involved in money laundering. The average user's transaction comes down to Rs 750,000. I don't think transactions like these will get ignored by banks in India.
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subvolatil
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December 28, 2013, 11:33:56 AM |
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Rs 20-30 crore spread over 400 people! That's kind of extremely huge transactions. I hope he was not actually involved in money laundering. The average user's transaction comes down to Rs 750,000. I don't think transactions like these will get ignored by banks in India.
What i think they did was look at his btc address saw the total transaction and then calculated it with the highest point btc was at. he did have over 1000 btc when he started 1.5 years back
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G K G
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December 28, 2013, 12:35:42 PM |
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Rs 20-30 crore spread over 400 people! That's kind of extremely huge transactions. I hope he was not actually involved in money laundering. The average user's transaction comes down to Rs 750,000. I don't think transactions like these will get ignored by banks in India.
What i think they did was look at his btc address saw the total transaction and then calculated it with the highest point btc was at. he did have over 1000 btc when he started 1.5 years back But if it is not just a speculation and he had been doing some ML under the hood, then there is serious prob for indian bitcoiners. Even though it would not affect the long term future of BTC in india, we'll face difficult hurdles for the near term.
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jayguar
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December 28, 2013, 01:45:53 PM |
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This is scary. The DNAIndia article projects as though Bitcoin is a foreign currency and also says it is illegal.
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anteater2009
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December 28, 2013, 02:02:10 PM |
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assortmentofsorts
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December 29, 2013, 08:53:08 AM |
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This is scary. The DNAIndia article projects as though Bitcoin is a foreign currency and also says it is illegal.
I think we need a website like CoinDesk but specifically for India with various domain experts (including Bitcoiners) writing articles on Bitcoin vis-a-vis Indian law (lawyers can be of help here), technology behind Bitcoins (crypto/software experts), advantages of adopting Bitcoins (economists) etc. We need articles from early Indian adopters too. Their experiences, stuff that they want improved, life-changing apps they are working on or even using bitcoins to enable job creation etc. Let the media/government know that the people who use and deal with bitcoins in India is the smart and honest common man and not goons from the underworld (Silk Road pretty much dominated the Bitcoin press the whole of 2013 and we need to change that at least for 2014). The government needs to also be cautioned about attempting to ban Bitcoins as it will only push the technology towards criminals and out of the hands of honest people who want to do good with this currency... in other words the lesser the number of good people in control of bitcoin the more dangerous bitcoin is for the society. The Indian media seems to be least interested in doing some proper research before publishing articles (esp the one from DNA). But for them to do that we need a site that incorporates a basic "for dummies" like approach to explain all the concepts surrounding Bitcoins (creation of coins, decentralization, pseudonymity, miners and fee collection, blockchain analysis) and dispel all the FUD that seems to have engulfed the Indian media/government. Its not that any of the stuff I have written above aren't available in any other foreign media site(s)/blogs. Looking at how lazy our media/government is when it comes to doing research a site which collates all information into one place (and properly categorizes them into beginner/moderate/advanced) is the need of the hour. I'm wanting to start a site along these lines... to raise awareness and use it as a tool to dispel FUD. Anyone up for this? Ideas welcome! If you guys want to brainstorm we can catch up on email/skype (ping me to get in touch).
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If you want to tip: BTC 1KbjTUEfcziwMv7BMXcjmvNAKEpTJbZCsF
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americandesi
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December 29, 2013, 08:57:31 AM |
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This is scary. The DNAIndia article projects as though Bitcoin is a foreign currency and also says it is illegal.
I think we need a website like CoinDesk but specifically for India with various domain experts (including Bitcoiners) writing articles on Bitcoin vis-a-vis Indian law (lawyers can be of help here), technology behind Bitcoins (crypto/software experts), advantages of adopting Bitcoins (economists) etc. We need articles from early Indian adopters too. Their experiences, stuff that they want improved, life-changing apps they are working on or even using bitcoins to enable job creation etc. Let the media/government know that the people who use and deal with bitcoins in India is the smart and honest common man and not goons from the underworld (Silk Road pretty much dominated the Bitcoin press the whole of 2013 and we need to change that at least for 2014). The government needs to also be cautioned about attempting to ban Bitcoins as it will only push the technology towards criminals and out of the hands of honest people who want to do good with this currency... in other words the lesser the number of good people in control of bitcoin the more dangerous bitcoin is for the society. The Indian media seems to be least interested in doing some proper research before publishing articles (esp the one from DNA). But for them to do that we need a site that incorporates a basic "for dummies" like approach to explain all the concepts surrounding Bitcoins (creation of coins, decentralization, pseudonymity, miners and fee collection, blockchain analysis) and dispel all the FUD that seems to have engulfed the Indian media/government. Its not that any of the stuff I have written above aren't available in any other foreign media site(s)/blogs. Looking at how lazy our media/government is when it comes to doing research a site which collates all information into one place (and properly categorizes them into beginner/moderate/advanced) is the need of the hour. I'm wanting to start a site along these lines... to raise awareness and use it as a tool to dispel FUD. Anyone up for this? Ideas welcome! If you guys want to brainstorm we can catch up on email/skype (ping me to get in touch). Reach out to Benson, we already have one which he is working on. A few new writers for the paper would be really helpful. Also, you can always start a blog on www.abitsocial.com (Social network for bitcoiners)
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Benson Samuel
Legendary
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Activity: 1890
Merit: 1000
Landscaping Bitcoin for India!
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 29, 2013, 08:59:26 AM |
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This is scary. The DNAIndia article projects as though Bitcoin is a foreign currency and also says it is illegal.
I think we need a website like CoinDesk but specifically for India with various domain experts (including Bitcoiners) writing articles on Bitcoin vis-a-vis Indian law (lawyers can be of help here), technology behind Bitcoins (crypto/software experts), advantages of adopting Bitcoins (economists) etc. We need articles from early Indian adopters too. Their experiences, stuff that they want improved, life-changing apps they are working on or even using bitcoins to enable job creation etc. Let the media/government know that the people who use and deal with bitcoins in India is the smart and honest common man and not goons from the underworld (Silk Road pretty much dominated the Bitcoin press the whole of 2013 and we need to change that at least for 2014). The government needs to also be cautioned about attempting to ban Bitcoins as it will only push the technology towards criminals and out of the hands of honest people who want to do good with this currency... in other words the lesser the number of good people in control of bitcoin the more dangerous bitcoin is for the society. The Indian media seems to be least interested in doing some proper research before publishing articles (esp the one from DNA). But for them to do that we need a site that incorporates a basic "for dummies" like approach to explain all the concepts surrounding Bitcoins (creation of coins, decentralization, pseudonymity, miners and fee collection, blockchain analysis) and dispel all the FUD that seems to have engulfed the Indian media/government. Its not that any of the stuff I have written above aren't available in any other foreign media site(s)/blogs. Looking at how lazy our media/government is when it comes to doing research a site which collates all information into one place (and properly categorizes them into beginner/moderate/advanced) is the need of the hour. I'm wanting to start a site along these lines... to raise awareness and use it as a tool to dispel FUD. Anyone up for this? Ideas welcome! If you guys want to brainstorm we can catch up on email/skype (ping me to get in touch). Reach out to Benson, we already have one which he is working on. A few new writers for the paper would be really helpful. Also, you can always start a blog on www.abitsocial.com (Social network for bitcoiners) I do have the indiabitcoin paper.li, but if someone can gimme a platform like Coindesk, I will definitely be glad to be on the board, and get articles.
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americandesi
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 29, 2013, 09:02:49 AM |
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This is scary. The DNAIndia article projects as though Bitcoin is a foreign currency and also says it is illegal.
I think we need a website like CoinDesk but specifically for India with various domain experts (including Bitcoiners) writing articles on Bitcoin vis-a-vis Indian law (lawyers can be of help here), technology behind Bitcoins (crypto/software experts), advantages of adopting Bitcoins (economists) etc. We need articles from early Indian adopters too. Their experiences, stuff that they want improved, life-changing apps they are working on or even using bitcoins to enable job creation etc. Let the media/government know that the people who use and deal with bitcoins in India is the smart and honest common man and not goons from the underworld (Silk Road pretty much dominated the Bitcoin press the whole of 2013 and we need to change that at least for 2014). The government needs to also be cautioned about attempting to ban Bitcoins as it will only push the technology towards criminals and out of the hands of honest people who want to do good with this currency... in other words the lesser the number of good people in control of bitcoin the more dangerous bitcoin is for the society. The Indian media seems to be least interested in doing some proper research before publishing articles (esp the one from DNA). But for them to do that we need a site that incorporates a basic "for dummies" like approach to explain all the concepts surrounding Bitcoins (creation of coins, decentralization, pseudonymity, miners and fee collection, blockchain analysis) and dispel all the FUD that seems to have engulfed the Indian media/government. Its not that any of the stuff I have written above aren't available in any other foreign media site(s)/blogs. Looking at how lazy our media/government is when it comes to doing research a site which collates all information into one place (and properly categorizes them into beginner/moderate/advanced) is the need of the hour. I'm wanting to start a site along these lines... to raise awareness and use it as a tool to dispel FUD. Anyone up for this? Ideas welcome! If you guys want to brainstorm we can catch up on email/skype (ping me to get in touch). Reach out to Benson, we already have one which he is working on. A few new writers for the paper would be really helpful. Also, you can always start a blog on www.abitsocial.com (Social network for bitcoiners) I do have the indiabitcoin paper.li, but if someone can gimme a platform like Coindesk, I will definitely be glad to be on the board, and get articles. @Benson : why not use abitsocial.com with its inbuilt blogging platform. Let me know if it needs anything and we can try to get what you want on the platform.
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Benson Samuel
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Landscaping Bitcoin for India!
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![](https://bitcointalk.org/Themes/custom1/images/post/xx.gif) |
December 29, 2013, 09:08:32 AM |
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This is scary. The DNAIndia article projects as though Bitcoin is a foreign currency and also says it is illegal.
I think we need a website like CoinDesk but specifically for India with various domain experts (including Bitcoiners) writing articles on Bitcoin vis-a-vis Indian law (lawyers can be of help here), technology behind Bitcoins (crypto/software experts), advantages of adopting Bitcoins (economists) etc. We need articles from early Indian adopters too. Their experiences, stuff that they want improved, life-changing apps they are working on or even using bitcoins to enable job creation etc. Let the media/government know that the people who use and deal with bitcoins in India is the smart and honest common man and not goons from the underworld (Silk Road pretty much dominated the Bitcoin press the whole of 2013 and we need to change that at least for 2014). The government needs to also be cautioned about attempting to ban Bitcoins as it will only push the technology towards criminals and out of the hands of honest people who want to do good with this currency... in other words the lesser the number of good people in control of bitcoin the more dangerous bitcoin is for the society. The Indian media seems to be least interested in doing some proper research before publishing articles (esp the one from DNA). But for them to do that we need a site that incorporates a basic "for dummies" like approach to explain all the concepts surrounding Bitcoins (creation of coins, decentralization, pseudonymity, miners and fee collection, blockchain analysis) and dispel all the FUD that seems to have engulfed the Indian media/government. Its not that any of the stuff I have written above aren't available in any other foreign media site(s)/blogs. Looking at how lazy our media/government is when it comes to doing research a site which collates all information into one place (and properly categorizes them into beginner/moderate/advanced) is the need of the hour. I'm wanting to start a site along these lines... to raise awareness and use it as a tool to dispel FUD. Anyone up for this? Ideas welcome! If you guys want to brainstorm we can catch up on email/skype (ping me to get in touch). Reach out to Benson, we already have one which he is working on. A few new writers for the paper would be really helpful. Also, you can always start a blog on www.abitsocial.com (Social network for bitcoiners) I do have the indiabitcoin paper.li, but if someone can gimme a platform like Coindesk, I will definitely be glad to be on the board, and get articles. @Benson : why not use abitsocial.com with its inbuilt blogging platform. Let me know if it needs anything and we can try to get what you want on the platform. While that does work awesome, I would prefer a Coindesk approach as this is a large business. We were planning to launch Bitcoin Magazine India as a dedicated piece, but was too large to cover unless there was a dedicated effort. That effort is possible at this point. If there is enough support generated, it would be good to explore if the abitsocial blog can handle magazine capabilities and if it can be accessed from a separate URL as well.
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assortmentofsorts
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December 29, 2013, 10:43:26 AM |
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This is scary. The DNAIndia article projects as though Bitcoin is a foreign currency and also says it is illegal.
I think we need a website like CoinDesk but specifically for India with various domain experts (including Bitcoiners) writing articles on Bitcoin vis-a-vis Indian law (lawyers can be of help here), technology behind Bitcoins (crypto/software experts), advantages of adopting Bitcoins (economists) etc. We need articles from early Indian adopters too. Their experiences, stuff that they want improved, life-changing apps they are working on or even using bitcoins to enable job creation etc. Let the media/government know that the people who use and deal with bitcoins in India is the smart and honest common man and not goons from the underworld (Silk Road pretty much dominated the Bitcoin press the whole of 2013 and we need to change that at least for 2014). The government needs to also be cautioned about attempting to ban Bitcoins as it will only push the technology towards criminals and out of the hands of honest people who want to do good with this currency... in other words the lesser the number of good people in control of bitcoin the more dangerous bitcoin is for the society. The Indian media seems to be least interested in doing some proper research before publishing articles (esp the one from DNA). But for them to do that we need a site that incorporates a basic "for dummies" like approach to explain all the concepts surrounding Bitcoins (creation of coins, decentralization, pseudonymity, miners and fee collection, blockchain analysis) and dispel all the FUD that seems to have engulfed the Indian media/government. Its not that any of the stuff I have written above aren't available in any other foreign media site(s)/blogs. Looking at how lazy our media/government is when it comes to doing research a site which collates all information into one place (and properly categorizes them into beginner/moderate/advanced) is the need of the hour. I'm wanting to start a site along these lines... to raise awareness and use it as a tool to dispel FUD. Anyone up for this? Ideas welcome! If you guys want to brainstorm we can catch up on email/skype (ping me to get in touch). Reach out to Benson, we already have one which he is working on. A few new writers for the paper would be really helpful. Also, you can always start a blog on www.abitsocial.com (Social network for bitcoiners) I do have the indiabitcoin paper.li, but if someone can gimme a platform like Coindesk, I will definitely be glad to be on the board, and get articles. @Benson : why not use abitsocial.com with its inbuilt blogging platform. Let me know if it needs anything and we can try to get what you want on the platform. While that does work awesome, I would prefer a Coindesk approach as this is a large business. We were planning to launch Bitcoin Magazine India as a dedicated piece, but was too large to cover unless there was a dedicated effort. That effort is possible at this point. If there is enough support generated, it would be good to explore if the abitsocial blog can handle magazine capabilities and if it can be accessed from a separate URL as well. I agree. The mainstream media is either not dedicating enough resources to research on bitcoins or is plain not interested. Nothing against abitsocial.com but I want it to be similar to Coindesk/Techcrunch/ArsTechnica/Quartz (i love their design)... possibly even more minimalistic and solely dedicated to addressing issues related to Bitcoin and India. Willing to code up something along those lines (plus get a host and domain) if you and others are willing to join hands!
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If you want to tip: BTC 1KbjTUEfcziwMv7BMXcjmvNAKEpTJbZCsF
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Benson Samuel
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Landscaping Bitcoin for India!
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December 29, 2013, 10:51:59 AM |
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Am definitely in for this.
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