Why there is difference?

[BTCIndia]

As we know, Buysellbitco.in has halted trade after ED's raid and so did Unocoin. After week or two Unocoin taking things in hand decided to go live and buysellbitco.in not. Why is the difference amount Bitcoin enthusiast? Isn't there unity among people here? Seems like fork has already formed when BAI came into existence. What is the status of Indian community according to you?

[G K G]

unocoin and bai doesn't do much to the community. bai works only for the welfare of 3 or 4 enterprises, it was formed with.they are venture capitalist working for their own interest and profit.

frankly speakin we aren't big enough for a community to be formed outside here and to rep all of us.
we are just in a beginning  stage and when the use of BTC expands in India  the community will put up together and will have to form a bigger rep.

P.S: i really liked buysellsitco.in. I'd like to see them back

[BTCIndia]

unocoin and bai doesn't do much to the community. bai works only for the welfare of 3 or 4 enterprises, it was formed with.they are venture capitalist working for their own interest and profit.

frankly speakin we aren't big enough for a community to be formed outside here and to rep all of us.
we are just in a beginning  stage and when the use of BTC expands in India  the community will put up together and will have to form a bigger rep.

P.S: i really liked buysellsitco.in. I'd like to see them back

Well, I think, BAI has taken first intelligent move from community to engage consultant 'Nishisht Desai Assosiates' for guidance on Bitcoin. Although, move was selfish, but intelligent one. I guess, they were the one who took pain of organizing Global Conference, Banglore. Right? Others just claim 'bringing bitcoin in India' supported by rhetoric and micro blogging activities. What actually required at this moment is lobbying, drama and masala for media to inject them in Bitcoin. Just like filthy bollywood activity to gain attention. Then only they'll take Bitcoin seriously and start exploring more about it. We all know what has happened to people who tried to understand Bitcoin. They land up being member of Bitcoin forum or Bitcoin owner.   I know, those people are incapable but at least they tried. People accuse them of haste moves but we should understand that 3600 coins are mined and not more than 1 BTC/daily belongs to India.  

P.S.: Yeah! Unocoin being online or not barely makes difference to status Bitcoin in India. But Buysellbitco.in status has huge impact due to its market goodwill.

[Benson Samuel]

unocoin and bai doesn't do much to the community. bai works only for the welfare of 3 or 4 enterprises, it was formed with.they are venture capitalist working for their own interest and profit.

frankly speakin we aren't big enough for a community to be formed outside here and to rep all of us.
we are just in a beginning  stage and when the use of BTC expands in India  the community will put up together and will have to form a bigger rep.

P.S: i really liked buysellsitco.in. I'd like to see them back

Well, I think, BAI has taken first intelligent move from community to engage consultant 'Nishisht Desai Assosiates' for guidance on Bitcoin. Although, move was selfish, but intelligent one. I guess, they were the one who took pain of organizing Global Conference, Banglore. Right? Others just claim 'bringing bitcoin in India' supported by rhetoric and micro blogging activities. What actually required at this moment is lobbying, drama and masala for media to inject them in Bitcoin. Just like filthy bollywood activity to gain attention. Then only they'll take Bitcoin seriously and start exploring more about it. We all know what has happened to people who tried to understand Bitcoin. They land up being member of Bitcoin forum or Bitcoin owner.   I know, those people are incapable but at least they tried. People accuse them of haste moves but we should understand that 3600 coins are mined and not more than 1 BTC/daily belongs to India.  

P.S.: Yeah! Unocoin being online or not barely makes difference to status Bitcoin in India. But Buysellbitco.in status has huge impact due to its market goodwill.

The CIS has done a way more intensive study on an Open Source level for Bitcoin in India. Also, Chaitanya Advocates from Bangalore have filed a letter with the RBI and have given a deadline of Feb 7th before the case is taken to the higher courts. NDA have also done a press release, so its a well noted contribution.
The Global Bitcoin Conference had speakers who spoke about how easy it was to purchase Bitcoins on Mt Gox and bring them to India. These things were voraciously spoken along with investment advice and sales focus. The conference would have gained way more acceptance if it had focused on the nascent stage of the technology rather than rendering it as an investment vehicle.

Watch who you troll! You obviously seem to be driven by mainstream media and that will only get you as far as the door.

If you want to sensationalize something that no one understands, scam people on your own time, using your own methods.

[BTCIndia]

unocoin and bai doesn't do much to the community. bai works only for the welfare of 3 or 4 enterprises, it was formed with.they are venture capitalist working for their own interest and profit.

frankly speakin we aren't big enough for a community to be formed outside here and to rep all of us.
we are just in a beginning  stage and when the use of BTC expands in India  the community will put up together and will have to form a bigger rep.

P.S: i really liked buysellsitco.in. I'd like to see them back

Well, I think, BAI has taken first intelligent move from community to engage consultant 'Nishisht Desai Assosiates' for guidance on Bitcoin. Although, move was selfish, but intelligent one. I guess, they were the one who took pain of organizing Global Conference, Banglore. Right? Others just claim 'bringing bitcoin in India' supported by rhetoric and micro blogging activities. What actually required at this moment is lobbying, drama and masala for media to inject them in Bitcoin. Just like filthy bollywood activity to gain attention. Then only they'll take Bitcoin seriously and start exploring more about it. We all know what has happened to people who tried to understand Bitcoin. They land up being member of Bitcoin forum or Bitcoin owner.   I know, those people are incapable but at least they tried. People accuse them of haste moves but we should understand that 3600 coins are mined and not more than 1 BTC/daily belongs to India.  

P.S.: Yeah! Unocoin being online or not barely makes difference to status Bitcoin in India. But Buysellbitco.in status has huge impact due to its market goodwill.

The CIS has done a way more intensive study on an Open Source level for Bitcoin in India. Also, Chaitanya Advocates from Bangalore have filed a letter with the RBI and have given a deadline of Feb 7th before the case is taken to the higher courts. NDA have also done a press release, so its a well noted contribution.
The Global Bitcoin Conference had speakers who spoke about how easy it was to purchase Bitcoins on Mt Gox and bring them to India. These things were voraciously spoken along with investment advice and sales focus. The conference would have gained way more acceptance if it had focused on the nascent stage of the technology rather than rendering it as an investment vehicle.

Watch who you troll! You obviously seem to be driven by mainstream media and that will only get you as far as the door.

If you want to sensationalize something that no one understands, scam people on your own time, using your own methods.

A man never tells you anything until you contradict him.
~George Bernard Shaw

[dashingriddler]

A man never tells you anything until you contradict him.
~George Bernard Shaw

He probably wrote it just after looking at me.. haha

[thenoblebot]

George Bernard Shaw to the mooon

[BitCoinDream]

As we know, Buysellbitco.in has halted trade after ED's raid and so did Unocoin. After week or two Unocoin taking things in hand decided to go live and buysellbitco.in not. Why is the difference amount Bitcoin enthusiast? Isn't there unity among people here? Seems like fork has already formed when BAI came into existence. What is the status of Indian community according to you?

Why do u ask such controversial questions ? See what is going on here => https://bitcointalk.org/index.php?topic=369278.60

Has not buysellbitco.in resumed operation yet ? I can see Mahin Gupta is back to the forum for.............

[dashingriddler]

The CIS has done a way more intensive study on an Open Source level for Bitcoin in India. Also, Chaitanya Advocates from Bangalore have filed a letter with the RBI and have given a deadline of Feb 7th before the case is taken to the higher courts. NDA have also done a press release, so its a well noted contribution.
The Global Bitcoin Conference had speakers who spoke about how easy it was to purchase Bitcoins on Mt Gox and bring them to India. These things were voraciously spoken along with investment advice and sales focus. The conference would have gained way more acceptance if it had focused on the nascent stage of the technology rather than rendering it as an investment vehicle.

Watch who you troll! You obviously seem to be driven by mainstream media and that will only get you as far as the door.

If you want to sensationalize something that no one understands, scam people on your own time, using your own methods.

What is CIS? May i know if some people are behind chitanya advocates or they themselves have filed a letter?

The time when GBC happend was different and there was no storm. GBC did not ask speakers to speak on a specific topic - topics were chosen by the speakers themselves and GBC only categorized them into 4 panels. If it was happening now, it would have been much different for sure. I am also thinking GBC is one of the reasons for storm to start in India.
It would be interesting to see how things would turn out if some one can organize another conference now in India.

[Benson Samuel]

The CIS has done a way more intensive study on an Open Source level for Bitcoin in India. Also, Chaitanya Advocates from Bangalore have filed a letter with the RBI and have given a deadline of Feb 7th before the case is taken to the higher courts. NDA have also done a press release, so its a well noted contribution.
The Global Bitcoin Conference had speakers who spoke about how easy it was to purchase Bitcoins on Mt Gox and bring them to India. These things were voraciously spoken along with investment advice and sales focus. The conference would have gained way more acceptance if it had focused on the nascent stage of the technology rather than rendering it as an investment vehicle.

Watch who you troll! You obviously seem to be driven by mainstream media and that will only get you as far as the door.

If you want to sensationalize something that no one understands, scam people on your own time, using your own methods.

What is CIS? May i know if some people are behind chitanya advocates or they themselves have filed a letter?

The time when GBC happend was different and there was no storm. GBC did not ask speakers to speak on a specific topic - topics were chosen by the speakers themselves and GBC only categorized them into 4 panels. If it was happening now, it would have been much different for sure. I am also thinking GBC is one of the reasons for storm to start in India.
It would be interesting to see how things would turn out if some one can organize another conference now in India.

Google CIS. The rest of the information will be release on the public domain in time.

[subvolatil]

As we know, Buysellbitco.in has halted trade after ED's raid and so did Unocoin. After week or two Unocoin taking things in hand decided to go live and buysellbitco.in not. Why is the difference amount Bitcoin enthusiast? Isn't there unity among people here? Seems like fork has already formed when BAI came into existence. What is the status of Indian community according to you?

Why do u ask such controversial questions ? See what is going on here => https://bitcointalk.org/index.php?topic=369278.60

Has not buysellbitco.in resumed operation yet ? I can see Mahin Gupta is back to the forum for.............

Well the clash, is a clash of  ideas and  the basic opensource principles (FOSS), The way businesses in the  bitsoin global community was conducted is through mutual and gained trust, Trust is  one of the biggest things in the  bitcoin community, 'Caveat Emptor' is the model businesses are  based on, and falls on the community to provide a safety net by pointing out  wrong business practices.

When things fall on the buyer to take most of the risk, a  community needs to take care of it and look to  the benefit of the  community, not a  business  venture.

[Benson Samuel]

As we know, Buysellbitco.in has halted trade after ED's raid and so did Unocoin. After week or two Unocoin taking things in hand decided to go live and buysellbitco.in not. Why is the difference amount Bitcoin enthusiast? Isn't there unity among people here? Seems like fork has already formed when BAI came into existence. What is the status of Indian community according to you?

Why do u ask such controversial questions ? See what is going on here => https://bitcointalk.org/index.php?topic=369278.60

Has not buysellbitco.in resumed operation yet ? I can see Mahin Gupta is back to the forum for.............

I hear that he should be back soon with a new business model around Bitcoin.

[buysellbitcoin]

As we know, Buysellbitco.in has halted trade after ED's raid and so did Unocoin. After week or two Unocoin taking things in hand decided to go live and buysellbitco.in not. Why is the difference amount Bitcoin enthusiast? Isn't there unity among people here? Seems like fork has already formed when BAI came into existence. What is the status of Indian community according to you?

Why do u ask such controversial questions ? See what is going on here => https://bitcointalk.org/index.php?topic=369278.60

Has not buysellbitco.in resumed operation yet ? I can see Mahin Gupta is back to the forum for.............

Hi,

I am on forums, but generally do not speak a lot nowdays... If you have any specific questions you can always PM me or send an email to support@buysellbitco.in

We have not resumed operations for the same reason where we suspended it, its still not clear if transacting Bitcoin and allowing people to buy and sell bitcoins requires any registrations or approvals. RBI stand is still not changed and so ours.

Also to the OP : We have not suspended business after raids. We suspended it before raids and it was due to RBI circular and not raids

As far as I understand holding Bitcoin, mining Bitcoin does not have any issue at this moment as long as you are declaring it in your assets and filling your tax papers clearly.

Person to person ( peer to peer personal trades ) buy and sell should be fine if you know the person personally, have meet him and and can produce KYC and source of your Bitcoin/INR and have sufficient knowledge of their source of Bitcoin/INR, and your transaction is completed using bank accounts.  Why you need to do so much if its just barter ? Well you don't know yet if this is classified as barter or regulated transaction. So better be prepared with everything you can produce. The best thing in peer to peer will be you will exactly knowing what you are doing and with whom you are doing and your transaction volume most probably will be very small.

Running a business where you allow buy and sell is altogether different thing. You dont even know that you are being classified as commodity exchanger and you must have registration and approval from FMC or may be you need AD or FFMC or ME registration. Even if you are doing everything correct, you dont even know that your compliance officer must file STR with FIU. The issue is that without clear guidelines you dont even know that you are supposed to file STR.

Please dont give arguments like there is no law for Bitcoin and they can not charge you with anything. You can say that their classification of Bitcoin and its transactions with existing laws will not hold in court, and you may be very right. But you have to understand a very important thing.

Be sure you understand the risk and utter unfairness though.  If regulators are "wrong" they don't lose anything (except some taxpayer money).  They either write some new guidance, amendment, circular or they ask parliament/ministry  to pass some new laws/ruling because current ones don't cover virtual currencies.  If you are "wrong" then you potentially could lose everything, your savings, your livelihood, your good name, even your freedom.   Eventually most of these issues will end up in court but there is no real case law on Bitcoin or virtual currencies yet.  In thirty or forty years this will be old news (like all the regulatory and legal issues related to non-bank entities and credit cards are now).   Bitcoin isn't just cutting edge technology it is cutting edge application of law and that means risk, complexity, and uncertainty.

DISCLAIMER: I AM NOT A LAWYER.  THE ABOVE POST IS INFORMATIONAL ONLY AND SHOULD NOT BE CONSTRUED AS LEGAL ADVISE.  IF YOU HAVE A SPECIFIC QUESTION ABOUT YOUR ACTIVITY YOU SHOULD RETAIN INDEPENDENT LEGAL ADVISER.

Regards

[BTCIndia]

As we know, Buysellbitco.in has halted trade after ED's raid and so did Unocoin. After week or two Unocoin taking things in hand decided to go live and buysellbitco.in not. Why is the difference amount Bitcoin enthusiast? Isn't there unity among people here? Seems like fork has already formed when BAI came into existence. What is the status of Indian community according to you?

Why do u ask such controversial questions ? See what is going on here => https://bitcointalk.org/index.php?topic=369278.60

Has not buysellbitco.in resumed operation yet ? I can see Mahin Gupta is back to the forum for.............

No logic thought but when you're in controversial currency its better to expect controversial questions.   

[BTCIndia]

As we know, Buysellbitco.in has halted trade after ED's raid and so did Unocoin. After week or two Unocoin taking things in hand decided to go live and buysellbitco.in not. Why is the difference amount Bitcoin enthusiast? Isn't there unity among people here? Seems like fork has already formed when BAI came into existence. What is the status of Indian community according to you?

Why do u ask such controversial questions ? See what is going on here => https://bitcointalk.org/index.php?topic=369278.60

Has not buysellbitco.in resumed operation yet ? I can see Mahin Gupta is back to the forum for.............

DISCLAIMER: I AM NOT A LAWYER.  THE ABOVE POST IS INFORMATIONAL ONLY AND SHOULD NOT BE CONSTRUED AS LEGAL ADVISE.  IF YOU HAVE A SPECIFIC QUESTION ABOUT YOUR ACTIVITY YOU SHOULD RETAIN INDEPENDENT LEGAL ADVISER.

Regards

LOL! Do we look so naive to consider it as legal advice? 
What about you? Did you consult Legal Adviser before your activity?

[Benson Samuel]

The CIS has done a way more intensive study on an Open Source level for Bitcoin in India. Also, Chaitanya Advocates from Bangalore have filed a letter with the RBI and have given a deadline of Feb 7th before the case is taken to the higher courts. NDA have also done a press release, so its a well noted contribution.
The Global Bitcoin Conference had speakers who spoke about how easy it was to purchase Bitcoins on Mt Gox and bring them to India. These things were voraciously spoken along with investment advice and sales focus. The conference would have gained way more acceptance if it had focused on the nascent stage of the technology rather than rendering it as an investment vehicle.

Watch who you troll! You obviously seem to be driven by mainstream media and that will only get you as far as the door.

If you want to sensationalize something that no one understands, scam people on your own time, using your own methods.

What is CIS? May i know if some people are behind chitanya advocates or they themselves have filed a letter?

The time when GBC happend was different and there was no storm. GBC did not ask speakers to speak on a specific topic - topics were chosen by the speakers themselves and GBC only categorized them into 4 panels. If it was happening now, it would have been much different for sure. I am also thinking GBC is one of the reasons for storm to start in India.
It would be interesting to see how things would turn out if some one can organize another conference now in India.

Google CIS. The rest of the information will be release on the public domain in time.

http://www.dnaindia.com/money/report-bitcoin-fan-slaps-notice-on-rbi-seeks-framework-1958211

Here we go.

[BTCIndia]

As we know, Buysellbitco.in has halted trade after ED's raid and so did Unocoin. After week or two Unocoin taking things in hand decided to go live and buysellbitco.in not. Why is the difference amount Bitcoin enthusiast? Isn't there unity among people here? Seems like fork has already formed when BAI came into existence. What is the status of Indian community according to you?

Why do u ask such controversial questions ? See what is going on here => https://bitcointalk.org/index.php?topic=369278.60

Has not buysellbitco.in resumed operation yet ? I can see Mahin Gupta is back to the forum for.............

I hear that he should be back soon with a new business model around Bitcoin.

How did he manage technical support for new business model around Bitcoin? BD from Amul butter-sikka? Or wrote one?

[BTCIndia]

The CIS has done a way more intensive study on an Open Source level for Bitcoin in India. Also, Chaitanya Advocates from Bangalore have filed a letter with the RBI and have given a deadline of Feb 7th before the case is taken to the higher courts. NDA have also done a press release, so its a well noted contribution.
The Global Bitcoin Conference had speakers who spoke about how easy it was to purchase Bitcoins on Mt Gox and bring them to India. These things were voraciously spoken along with investment advice and sales focus. The conference would have gained way more acceptance if it had focused on the nascent stage of the technology rather than rendering it as an investment vehicle.

Watch who you troll! You obviously seem to be driven by mainstream media and that will only get you as far as the door.

If you want to sensationalize something that no one understands, scam people on your own time, using your own methods.

What is CIS? May i know if some people are behind chitanya advocates or they themselves have filed a letter?

The time when GBC happend was different and there was no storm. GBC did not ask speakers to speak on a specific topic - topics were chosen by the speakers themselves and GBC only categorized them into 4 panels. If it was happening now, it would have been much different for sure. I am also thinking GBC is one of the reasons for storm to start in India.
It would be interesting to see how things would turn out if some one can organize another conference now in India.

Google CIS. The rest of the information will be release on the public domain in time.

http://www.dnaindia.com/money/report-bitcoin-fan-slaps-notice-on-rbi-seeks-framework-1958211

Here we go.

"The document, a copy of which is available with dna, contests every point of the December 24 RBI press release regarding Bitcoin."

Aren't we privileged enough to get access to document? Denial won't be surprise where people pretend to be a community.

[buysellbitcoin]

As we know, Buysellbitco.in has halted trade after ED's raid and so did Unocoin. After week or two Unocoin taking things in hand decided to go live and buysellbitco.in not. Why is the difference amount Bitcoin enthusiast? Isn't there unity among people here? Seems like fork has already formed when BAI came into existence. What is the status of Indian community according to you?

Why do u ask such controversial questions ? See what is going on here => https://bitcointalk.org/index.php?topic=369278.60

Has not buysellbitco.in resumed operation yet ? I can see Mahin Gupta is back to the forum for.............

I hear that he should be back soon with a new business model around Bitcoin.

How did he manage technical support for new business model around Bitcoin? BD from Amul butter-sikka? Or wrote one?

Lol.

We are not resuming buy and sell until we have clear guidelines for sure. We are working on something that is related to analysis, information and technical side of Bitcoin.

Regards

[buysellbitcoin]

As we know, Buysellbitco.in has halted trade after ED's raid and so did Unocoin. After week or two Unocoin taking things in hand decided to go live and buysellbitco.in not. Why is the difference amount Bitcoin enthusiast? Isn't there unity among people here? Seems like fork has already formed when BAI came into existence. What is the status of Indian community according to you?

Why do u ask such controversial questions ? See what is going on here => https://bitcointalk.org/index.php?topic=369278.60

Has not buysellbitco.in resumed operation yet ? I can see Mahin Gupta is back to the forum for.............

DISCLAIMER: I AM NOT A LAWYER.  THE ABOVE POST IS INFORMATIONAL ONLY AND SHOULD NOT BE CONSTRUED AS LEGAL ADVISE.  IF YOU HAVE A SPECIFIC QUESTION ABOUT YOUR ACTIVITY YOU SHOULD RETAIN INDEPENDENT LEGAL ADVISER.

Regards

LOL! Do we look so naive to consider it as legal advice? 
What about you? Did you consult Legal Adviser before your activity?

Lol Yep, you are not naive and that disclaimer is not for you, but put that disclaimer to save myself
I will again quote below line :
"Bitcoin isn't just cutting edge technology it is cutting edge application of law and that means risk, complexity, and uncertainty."

Legal advise does not help in case of uncertainty, and in that case its better to avoid that sector. Sometimes you learn lessons hard way.

Regards