Is it legal to run a Bitcoin Miner in India?

[discoverag]

According to http://en.wikipedia.org/wiki/Legality_of_Bitcoin_by_country, Bitcoin is restricted in India? Will it create a problem if I run in a rented shop with commercial electricity?

[seriouscoin]

yes

[Soros Shorts]

Didn't somebody once run a GPU mining company in India and sold shared on GLBSE? I don't think anything happened to the guy.

[Braedo]

What are the chances of being caught?

[sbogovac]

What would the consequences be for the person on the lease contract if it would catch fire?

[mfaidzul]

It could be highly illegal... but then it's India!! Do all the laws they want, there's very little capacity (or will) to enforce them...

[Zich]

Would be more precise to ask someone from india  

My country(indonesia) also mark as restricted, but there is no regulation yet to ban the bitcoin. Local bitcoin exchange had no problem transferring money to customer bank account.

[Bananana]

According to http://en.wikipedia.org/wiki/Legality_of_Bitcoin_by_country, Bitcoin is restricted in India? Will it create a problem if I run in a rented shop with commercial electricity?

I think it will be really risky, I would suggest you to just buy 1-2 miner and mine at home. Less amount means less risk...

[chrysophylax]

According to http://en.wikipedia.org/wiki/Legality_of_Bitcoin_by_country, Bitcoin is restricted in India? Will it create a problem if I run in a rented shop with commercial electricity?

the legality question is not of bitcoin itself - but of the use of equipment ( and the subsequent electricity ) for the creation of bitcoin ...

as a farm operator also - i understand that bitcoin itself may be restricted ( and therefore the use of ) but not the mining equipment itself ...

each country has its own laws and restrictions - so you need to find out what these are ... but in most instances - computer equipment is not illegal and therefore the use of them is the only question - not hwteher bitcoin itself is outlawed or not ...

my seven cents worth ... or 0.00000007btc ...

#crysx

[wpgdeez]

I wonder about North Korea ..

[chrysophylax]

I wonder about North Korea ..

the best thing to do is - do what i do - message them ... find the electricity authority and send them a message asking ...

they may take a while to answer - but they are usually happy to help ...

they are - after all - taking our money ...



#crysx