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Cryptocurrency illegal in India???????

Discussion in 'CryptoCurrency' started by shiv durga, Jun 7, 2019.

  1. shiv durga

    shiv durga Jr. VIP Jr. VIP

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    Hello guys,
    Cryptocurrency is no more in India
    what is your opinion in this regard.
     
  2. hibr3d

    hibr3d Junior Member

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    I am not from India but it sucks*. I think that citizens should have a say in this and not* "Bank of India". But this was kinda expected with bitcoin. Why would bank like to be put out of it's position and not have a say and/or not get a fee for transactions? Welcome to our boring dystopia
     
    Last edited: Jun 7, 2019
  3. CryptoKujira

    CryptoKujira Regular Member

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    None **** given, really. But I live in the US.

    I do feel for people of India and have friends there. But it is possibly the most poverty stricken country in the world. Nasty living conditions and most can barely afford to get by. Super risky investment opportunities would probably just wreck the majority even more.

    Every time gov tries to ban something though, it just makes people want it more.
     
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  4. jasonforrest

    jasonforrest Newbie

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    India is officially the new age Nazi Germany if they really pass a 10yr jail sentence to Bitcoiners.
     
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  5. Dung Nguyen

    Dung Nguyen Jr. VIP Jr. VIP

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    :rolleyes: another copycat of Chinese operation. Please don't feel offense, but sure no privacy allowed there
     
  6. Papaproxy

    Papaproxy Jr. VIP Jr. VIP

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    I think it would be hard to implement a ban on a thing that is hard to trace. Unless you're cashing bitcoins out via personal bank accounts.

    On the off topic - I think the country has bigger issues existing like poverty than jailing people for using BTC. lol.
     
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  7. dahl01

    dahl01 BANNED BANNED

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    my client also said that and he very hardly get bitcoin in india now
     
  8. Susanta Lohar

    Susanta Lohar Regular Member

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    I had been using localbitcoin..com to buy/sell bitcoin, I still hold some cryptocurrencies.

    I really feel cursed for current governance. There are lots of shitty things going on in my country.
     
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  9. John4life2017

    John4life2017 Supreme Member

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    This is ludicrous!
     
  10. shiv durga

    shiv durga Jr. VIP Jr. VIP

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  11. 3hlut

    3hlut Junior Member

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    Fud....don't get fooled.
    India is a forerunner for digital currency.
    It has a reason why the 500 Rupee bill got banned and why Google is now entering Indian market with their digital gold app
     
  12. shiv durga

    shiv durga Jr. VIP Jr. VIP

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    RBI is issuing its own digital rupee as virtual currency.
     
  13. Almighty Pull

    Almighty Pull Regular Member

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    wow, that sucks but going by the link shared above, I believe this is just a draft proposal and to make this kinda thing into a full LAW should take 4-6mos at least.

    Better cash out guys or you may face the music!
     
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  14. 3hlut

    3hlut Junior Member

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    All countries in the world are going soon to issue their own digital currency.Will come in the beginning of next year.
    People are just unaware of it.
     
  15. redarrow

    redarrow Elite Member

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    uk on the ban to a lot of internet stuff news has warned us .

    dont no what yet but it comming to uk very soon ...

    use a proxy can be in any country in the world

    best to see the internet as a whole universe don't see it as a 1 country place, the internet is global for everyone.

    it very hard for any country to try to control the .net near to impossible there always be ways around any restrictions

    there millions doing business but live in restricted countries, it what you no knowledge is very powefull , education can scare anyone .

    when mobiles where restricted they used satalight, when tv was restricted they used radio , when people have no communication they used cb radio , there always be a internet.
     
    Last edited: Jun 9, 2019
  16. pofigy

    pofigy Senior Member

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    Current govt is against modern things ,so wait for 5 years so that someone who really understands how cryptocurrency works will come into power(lets hope)
     
  17. redarrow

    redarrow Elite Member

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    i think countries are restricted to getting any cut tax from digital money scares them.

    dont think older generation will understand digital money so kepping it restricted hidden helps countrys not exsplain it value, it saves money .

    india has always been picked on , even thu bitcoin could regenerate a small village government dont care , india very curupt unfortunately , they see no way to help there self with digital money scares them.

    a pack of rice/gold/money/dimonds can be hidden but a digital thift leaves footprints
     
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    Last edited: Jun 9, 2019
  18. shakher

    shakher Registered Member

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    Yeah pal this is true..earlier it was quite in usage and trading and many entrepreneurs came up with various platforms for crypto trading but a lot of fraudulent practices happened and quite an amount of people lost money. Since then the government put a restriction on crypto purchases and trading even through credit cards. So yeah currently the situation regarding cryptos is bad but maybe they will come up with certain regulations as cryptos are the emerging fast as the next big thing in digital currencies. So lets wait and hope for the best here in India.
     
  19. redarrow

    redarrow Elite Member

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    this is why India call centres scammers ask for Amazon cards as credit so it can be cashed quick or known items to be paid for and money return

    goverment no of these scams dont stop them becouse someone getting a handout.

    we are talking about a country that be proven to be provoked via hand outs from bad activity .
     
    Last edited: Jun 9, 2019
  20. Naresh11

    Naresh11 Jr. VIP Jr. VIP

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    It's just a draft ..so cash out ur bitcoin if u want to or buy digital stuff.. just cashed out some of mine and and holding some to buy digital goods