Unocoin is back

[RFDZ]

Is there any investigation on the people who had sent in their KYC previously?
Is this a honeypot for officials?

Would be good to protect customers as well with some of these doubts cleared before reopening.

I asked the same question to official, and they verbally said as the total volume is very low - they wont go in dept investigations. But as of now they just know more people who are interested in bitcoins i would say.

All customers were informed that the KYC docs were collected by IRS in an email.

So this implies that as the volume gets high, they will get into investigation?

[BitCoinDream]

I

I cant say if this will act as a honeypot or not but if btc is made illegal in the future, people dealing here will be in hot water.

Well none of the public gay figures have been prosecuted after the gay sex ban !!

(I apologies to anyone whose sentiments might hurt with the below post)
Lets see:
 
1. Gays have much wider support than btc (400 reported users on buysellbtc to millions of gays)
2. Gays have nothing to do with money, laundering schemes and hawala. This is a much graver offence than "gays", specially when you can't fund terrorism with gayness.
3. You don't have an agency dedicated to single minded motivation of protecting sex laws (read ED)
4. Gays don't call an international conferences and boast about having 10-20 partners each attracting unwanted and wrong kind of attention.

LMFAO

[devansh1991]

I

I cant say if this will act as a honeypot or not but if btc is made illegal in the future, people dealing here will be in hot water.

Well none of the public gay figures have been prosecuted after the gay sex ban !!

Thats because they have not had gay sex in public after the ban.

The point that I am trying to make is that you cannot be held guilty for an act committed in the past when it was legal but has now been declared a punishable offence.

[Benson Samuel]

I

I cant say if this will act as a honeypot or not but if btc is made illegal in the future, people dealing here will be in hot water.

Well none of the public gay figures have been prosecuted after the gay sex ban !!

Thats because they have not had gay sex in public after the ban.

The point that I am trying to make is that you cannot be held guilty for an act committed in the past when it was legal but has now been declared a punishable offence.

There was a recent case where a bank was fined and held guilty for laws that were not in place when they mucked up. Not sure which one. If someone does, please do postit.

But I agree. You cannot really be held that easily with an act committed in the past. The problem lies when there is no regulation/ definition and various other laws may get breached in between. And no clarity has yet been provided as to what those laws may be,

[G K G]

Is there any investigation on the people who had sent in their KYC previously?
Is this a honeypot for officials?

Would be good to protect customers as well with some of these doubts cleared before reopening.

This exchange  can  do a better job.   www.bitquick.in

Ya that looks OK. But very little sell orders with very little BTC.
Very safe for buyers (don't need to deposit INR to the website and no need to provide your personal details). but selllers will have to provide their bank details.

If their US website is really theirs then i totally trust them. Till i know that, i will have to wait for some real trade traffic to trust them.

[subvolatil]

Is there any investigation on the people who had sent in their KYC previously?
Is this a honeypot for officials?

Would be good to protect customers as well with some of these doubts cleared before reopening.

This exchange  can  do a better job.   www.bitquick.in

Ya that looks OK. But very little sell orders with very little BTC.
Very safe for buyers (don't need to deposit INR to the website and no need to provide your personal details). but selllers will have to provide their bank details.

If their US website is really theirs then i totally trust them. Till i know that, i will have to wait for some real trade traffic to trust them.

Yup the US website is theirs, you can find the Indian website link on their US website.

[G K G]

Is there any investigation on the people who had sent in their KYC previously?
Is this a honeypot for officials?

Would be good to protect customers as well with some of these doubts cleared before reopening.

This exchange  can  do a better job.   www.bitquick.in

Ya that looks OK. But very little sell orders with very little BTC.
Very safe for buyers (don't need to deposit INR to the website and no need to provide your personal details). but selllers will have to provide their bank details.

If their US website is really theirs then i totally trust them. Till i know that, i will have to wait for some real trade traffic to trust them.

Yup the US website is theirs, you can find the Indian website link on their US website.

Then that is perfect. Maybe i'll sell some soon for a start.

[subvolatil]

Is there any investigation on the people who had sent in their KYC previously?
Is this a honeypot for officials?

Would be good to protect customers as well with some of these doubts cleared before reopening.

This exchange  can  do a better job.   www.bitquick.in

Ya that looks OK. But very little sell orders with very little BTC.
Very safe for buyers (don't need to deposit INR to the website and no need to provide your personal details). but selllers will have to provide their bank details.

If their US website is really theirs then i totally trust them. Till i know that, i will have to wait for some real trade traffic to trust them.

Yup the US website is theirs, you can find the Indian website link on their US website.

Then that is perfect. Maybe i'll sell some soon for a start.

cool let me know what their service is like.

[Neo.op]

I

I cant say if this will act as a honeypot or not but if btc is made illegal in the future, people dealing here will be in hot water.

Well none of the public gay figures have been prosecuted after the gay sex ban !!

Thats because they have not had gay sex in public after the ban.

The point that I am trying to make is that you cannot be held guilty for an act committed in the past when it was legal but has now been declared a punishable offence.[/u]

The word you are looking for is retroactive. And I while got your point earlier too I fail to see the reason for putting it such a crude way. Just goes to show that you are just misinformed with low respect for other communities, in this case gay, who neither understands english nor can do google search.

Now read this example:
http://articles.economictimes.indiatimes.com/2012-04-13/news/31337558_1_tax-sale-tax-avoidance-retroactive-legislation

There was a retrospective law being applied to tax Vodafone.
Now for the word "in hot waters".
http://idioms.thefreedictionary.com/in+hot+water

"in a difficult situation in which you are likely to be punished" (and not punished as you interpreted).

Now seeing that, unocoins has taken the position of reporting on its customers activities. If there is a law applied later by RBI/Central government, retroactive or not, people will be put in difficult situation and their finances analysed in detail.

[subvolatil]

Well this should be a interesting muck ED has put in.


http://translate.google.co.in/translate?hl=en&sl=gu&u=http://www.gujaratsamachar.com/index.php/articles/display_article/indian-share-market-company-bit-coins&prev=/search%3Fq%3Dindian%2Bshare%2Bmarket%2Bcompany%2Bbit%2Bcoins%2Bgujaratsamachar.com%26espv%3D210%26es_sm%3D93

[dishwara]

Well this should be a interesting muck ED has put in.


http://translate.google.co.in/translate?hl=en&sl=gu&u=http://www.gujaratsamachar.com/index.php/articles/display_article/indian-share-market-company-bit-coins&prev=/search%3Fq%3Dindian%2Bshare%2Bmarket%2Bcompany%2Bbit%2Bcoins%2Bgujaratsamachar.com%26espv%3D210%26es_sm%3D93

The article saying Bitcoin illegal in India?
I dont understand the conversion from Gujarati to English correctly

[dashingriddler]

Is there any investigation on the people who had sent in their KYC previously?
Is this a honeypot for officials?

Would be good to protect customers as well with some of these doubts cleared before reopening.

I asked the same question to official, and they verbally said as the total volume is very low - they wont go in dept investigations. But as of now they just know more people who are interested in bitcoins i would say.

All customers were informed that the KYC docs were collected by IRS in an email.

So this implies that as the volume gets high, they will get into investigation?

If they come back to us asking for our transaction volume and individual customer volume data we will be obliged to provide them.
As far as i know, if your bank account and bitcoins are clean, you should not be bothered.

[G K G]

so i registered with unocoin today. what is this BAI donation?
already the fee is high, and with this donation added it's 4%.
If it is a donation, it must be voluntary not mandatory.

[thenoblebot]

so i registered with unocoin today. what is this BAI donation?
already the fee is high, and with this donation added it's 4%.
If it is a donation, it must be voluntary not mandatory.

BAI = Bitcoin Alliance of India

I do not think they represent the BTC community as a whole though , most certainly not from my perspective. In fact I found their first statement to be quite annoying.

And yeah , donations **MUST NOT** be mandatory.

[subvolatil]

so i registered with unocoin today. what is this BAI donation?
already the fee is high, and with this donation added it's 4%.
If it is a donation, it must be voluntary not mandatory.

BAI = Bitcoin Alliance of India

I do not think they represent the BTC community as a whole though , most certainly not from my perspective. In fact I found their first statement to be quite annoying.

And yeah , donations **MUST NOT** be mandatory.

This is  what i have been saying  for a  very  long time, they are not a part of the community they never  took part  in the community, and they have never looked to benefit the community. they are  a Business coalition they will only answer to profit margins.

Any one can register a non-profit and give it a  name, does not mean they do  good.

[G K G]

so i registered with unocoin today. what is this BAI donation?
already the fee is high, and with this donation added it's 4%.
If it is a donation, it must be voluntary not mandatory.

BAI = Bitcoin Alliance of India

I do not think they represent the BTC community as a whole though , most certainly not from my perspective. In fact I found their first statement to be quite annoying.

And yeah , donations **MUST NOT** be mandatory.

This is  what i have been saying  for a  very  long time, they are not a part of the community they never  took part  in the community, and they have never looked to benefit the community. they are  a Business coalition they will only answer to profit margins.

Any one can register a non-profit and give it a  name, does not mean they do  good.

Maybe we should listen to you. I'll stick to localbitcoins till bitquick.in picks some volume.

[subvolatil]

so i registered with unocoin today. what is this BAI donation?
already the fee is high, and with this donation added it's 4%.
If it is a donation, it must be voluntary not mandatory.

BAI = Bitcoin Alliance of India

I do not think they represent the BTC community as a whole though , most certainly not from my perspective. In fact I found their first statement to be quite annoying.

And yeah , donations **MUST NOT** be mandatory.

This is  what i have been saying  for a  very  long time, they are not a part of the community they never  took part  in the community, and they have never looked to benefit the community. they are  a Business coalition they will only answer to profit margins.

Any one can register a non-profit and give it a  name, does not mean they do  good.

Maybe we should listen to you. I'll stick to localbitcoins till bitquick.in picks some volume.

Even the forum market place is a good option, and there is another marketplace on the IRC  called  #bitcoin-otc it  does  have  good  volumes there. uses the gribble bot.

[G K G]

so i registered with unocoin today. what is this BAI donation?
already the fee is high, and with this donation added it's 4%.
If it is a donation, it must be voluntary not mandatory.

BAI = Bitcoin Alliance of India

I do not think they represent the BTC community as a whole though , most certainly not from my perspective. In fact I found their first statement to be quite annoying.

And yeah , donations **MUST NOT** be mandatory.

This is  what i have been saying  for a  very  long time, they are not a part of the community they never  took part  in the community, and they have never looked to benefit the community. they are  a Business coalition they will only answer to profit margins.

Any one can register a non-profit and give it a  name, does not mean they do  good.

Maybe we should listen to you. I'll stick to localbitcoins till bitquick.in picks some volume.

Even the forum market place is a good option, and there is another marketplace on the IRC  called  #bitcoin-otc it  does  have  good  volumes there. uses the gribble bot.

'll sure check it. thanks

[Efelts01]

Scam

[maurya78]

Why do you think it is a scam?