Bitcoin In India Under attack :- global community please help

[Peter R]

Maybe this India Bitcoin Crackdown story will get some legs:

http://www.zerohedge.com/news/2013-12-27/indian-bitcoin-exchanges-halted-government-shifts-capital-control-attention-away-gol

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[LiteCoinGuy]

Sad but not unexpected.

India has strong capital controls to try to stem flight.

http://www.economist.com/blogs/freeexchange/2013/08/capital-controls-india

We should expect strong resistance from corrupt regimes everywhere.  But this is Bitcoins mission in action - providing modern financial tools to the other 6 billion people on the planet. 

I expect zero coin will to be a key weapon in fighting corrupt regimes. 

Zerocoin could be a way yes.

maybe the next wave of more professional exchanges will rise in india with more compliance.

[gortonc]

Seems that gold smuggling is big business in India: http://www.philly.com/philly/business/20131227_ap_0de6e3846a724796bdfda985c331de84.html
Hmm... I wonder which is easier smuggling gold or transferring bitcoins.

I would humbly suggest that educating the populace is Bitcoin's only hope in India and much of the world. Well, that and the courage of an educated populace to act. As a previous poster noted, yes you can see what they did to Gandhi--but he still won through his sacrifice. "First they ignore me, then they ridicule me, then they attack me, then I win."

Given the danger Bitcoin represents to tyrannical systems, we should not be surprised that they ignore the first and jump to the following three simultaneously. The US FED seems committed to step one for the time being, but we should be prepared for the other steps if attempts to label coins and/or transactions fail. It is probably not a good idea to purchase all you coins from the likes of Coinbase.

Also noted previously, localbitcoins really should be the first line of both defence and attack transformation

[dc0ded]

I'm not sure what you think the global Bitcoin community can do about government oppression. If I had the power to stop any kind of global oppression I doubt India would be the country that I start with.

I dont know but a  few ideas would help alot.

Are the authorities actually raiding bitcoin exchanges, like the OP mentioned?  If the raids are violent and someone can get good photographic evidence (especially with a bitcoin logo in situ), then perhaps it would get some western media attention.  The people of the world will side with those whose freedoms are oppressed.  

No I don't think the raids are violent. They raided the offices to collect evidences and took the owners of a big manual exchange in custody for questioning. He may be arrested if proofs of any illegal activity like money laundering are found against him.

Financial regulations for small businesses in India are getting tougher everyday. Its a very dark zone and its difficult to understand what is legal and what is illegal. As the laws are not clear and well defined the authorities and governments misuse them multiple times.

I don't think pressure from international media will help Indian bitcoin users. I think lots of PIL(Public Interest Litigation) cases against the government on bitcoin issue may help. If there is a court order in support of bitcoin users then the authorities can do nothing.

[pa]

Gandhi led his followers to make their own sea salt when the British imposed a salt tax. Satoshi led his followers to make their own sound money when the Banksters imposed Quantitative Easing, a hidden tax on money.

[BlackShadowX1]

India should have there very own resistance coin, called "The Gandhicoin" with Gandhi face on it.

[Phinnaeus Gage]

India should have there very own resistance coin, called "The Gandhicoin" with Gandhi face on it.

Here's an image for inspiration.

[cr1776]

The control-freak authoritarians the world over have one goal in mind - control everyone else for their own power.  All the while claiming it is for their own good. 

[BlackShadowX1]

India should have there very own resistance coin, called "The Gandhicoin" with Gandhi face on it.

Here's an image for inspiration.

 

[undeadbitcoiner]

Wikipedia says that under FEMA any foreign exchange activity is illegal unless expressly permitted.  This is a very unusual and harsh law by English law standards (which India follows because it used to be an English colony).

http://en.m.wikipedia.org/wiki/Foreign_Exchange_Management_Act

Looks like bitcoin will stay strictly black market in India for the foreseeable future. 

Not was its still under English Colony (Politically and Living under donationation)
The fact is Indian ED officer himself dont know what actually bitcoin is,
RBI also dont know what bitcoin is and what is its purpose,
They are thinking about ML but they are not thinking if there will be no any ligit then it will appear as ML if they will open ligal option then they could track the transaction and all will be under AML rules.
This step will be harmfull for Indian givernment itself.

[subvolatil]

Wikipedia says that under FEMA any foreign exchange activity is illegal unless expressly permitted.  This is a very unusual and harsh law by English law standards (which India follows because it used to be an English colony).

http://en.m.wikipedia.org/wiki/Foreign_Exchange_Management_Act

Looks like bitcoin will stay strictly black market in India for the foreseeable future.  

Not was its still under English Colony (Politically and Living under donationation)
The fact is Indian ED officer himself dont know what actually bitcoin is,
RBI also dont know what bitcoin is and what is its purpose,
They are thinking about ML but they are not thinking if there will be no any ligit then it will appear as ML if they will open ligal option then they could track the transaction and all will be under AML rules.
This step will be harmfull for Indian givernment itself.

This is the main problem  we are facing.
The india bitcoin  community got together  today. and  decided the first step is  to release  a  press release, so that the authorities can meet  with a delegation and they can  explain  what  bitcoins are and how  it  can be  uses.
In the past  every time  people  from india tried to meet the  Authorities  they  have always  stonewalled them and  never have they once  met any member of the bitcoin  community to  talk  or  even  a  dialogue  with us.  

[nodroids]

My one caveat to all my friends and family is "price is headed to $5,000 in 2014 UNLESS they start arresting people for ever having traded it". This appears to be people being arrested for having traded bitcoin. SO?!!

This is clearly the Central Bank of India orchestrating this policy of arrests... 3 days isn't enough time for police to actually get their sh$t together, especially not in India. So this was planned ahead of time, meaning that the global banking cartel is using India as a test case?

[nodroids]

And this is another badge of honor for Bitcoin. A central bank comes after us, check, we are now officially legitimate. Where do I send my donations for the Indian defense fund?

[btctraderr]

And this is another badge of honor for Bitcoin. A central bank comes after us, check, we are now officially legitimate. Where do I send my donations for the Indian defense fund?

Yep I'll donate to a Defence fund. DDOS, education campaign, whatever. We need to free the world from this government oppression.

[nodroids]

I suggest we arrange for planes to fly with banners over Mumbai, Chennai, and Delhi. The banner should read, "We free ppl of the world choose gold and Bitcoin!" or maybe "RBI attacks gold & Bitcoin. Next, we win!". Who is in India who can take our donations and make this happen?

[peer2peer360]

they may stop the individuals in india from participating in bitcoin transactions
but they the authorities can't shutdown bitcoin

cryptocurrencies will persist against any resistances
& will ultimate win in the long run.

it may be up to us to educate those around us more about
the benefits of cryptocurrencies. (redistribution of wealth to the people)

it's been time for people to rise & take back their freedom of choice

may 2014 be a prosperous year for you

best regards
peer2peer360

[franky1]

why oh why do you guys manipulate the written word and try to exadurate what its all about.

its the same thing as EVERY country. if your going to touch FIAT (be an exchange) you need to get regulated

No regulatory approvals, registration or authorisation is stated to have been obtained by the entities concerned for carrying on such activities. As such, they may pose several risks to their users, including the following:

the governments of all countries do not want to risk large sums of FIAT being syphoned through basement dwelling teenagers who dont care about security, protection ETC.

so if you want to operate a exchange in india GET A LICENCE.

i cannot believe after 35 replies on this topic, that no one else has read the full articles and offered this proper advice.
but instead used it purely as a anti-government rant

again ill repeat
so if you want to operate a exchange in india GET A LICENCE.

[BurtW]

PSA:

FUD is always more fun than facts.  Don't rain on a FUD parade with facts.  You should know this by now.

Carry on...

[BittBurger]

My suggestions to the Original Poster:

Get people in your IRC channel and on social networks to organize an in-person, real life protest.  Make sure the press is there to film it, and do plenty of YouTube uploading with your cell phones.  Make this a human rights issue, because it is.  People just don't realize it yet.  Freedom to control our own money.  Seems like a basic freedom when you put it that way, doesn't it?

Decentralized networks evolve.  Come up with some way to continue providing the services without having a central point of weakness.  Anything with a centralized resource can be stopped.  Decentralized, multi-location setups can't be stopped.  Think about the evolution from Napster to Bit Torrent.  Each evolution occurred because the previous one was squashed.  Now it is virtually impossible to stop it.  Someone needs to get creative and find a way to host a decentralized exchange.  

so if you want to operate a exchange in india GET A LICENCE.

Its cute that you think its like going to the DMV and getting a little laminated card. 
Pretty sure the licensing process in India is such that anyone attempting to get a license for this will be denied.
I highly doubt this is an issue of a bunch of monumental idiots who just "didnt think of it" ...

-Burger-

[nodroids]

its the same thing as EVERY country. if your going to touch FIAT (be an exchange) you need to get regulated

No regulatory approvals, registration or authorisation is stated to have been obtained by the entities concerned for carrying on such activities. As such, they may pose several risks to their users, including the following:

so if you want to operate a exchange in india GET A LICENCE.


again ill repeat
so if you want to operate a exchange in india GET A LICENCE.

Exchanges who have been working on getting licensed for years now, still have no license. They are doing everything right, as if they are complying under a license and are in regular communication with the authorities who tell them they don't need a license (essentially "f&ck off, details to follow... oh and isn't it cute that you think the law matters when it comes to protecting the banking cartel").
My exchange in Canada - Cavirtex is doing everything right, leading the way on getting everyone using the same good lawyer to correspond with the state... Still we are in a-legal limbo.
If you are calling everyone blind for not seeing that we need to be legalized, as if that's a really simple thing, and not the whole crux of the matter, then I politely suggest you reconsider the middle men that Bitcoin disrupts - the banks. If you think the banks just roll over and let them be turned into middle-men in the dust bin of the march of technological history, well then...? Who is really the one missing the point in this instance?