Next Stop for Bitcoin: India by jrcornel

cryptocurrency · @jrcornel · Jun 23 '17

$297.45

Next Stop for Bitcoin: India

<html>
<h1>https://s11.postimg.org/bzpqwrlv7/Bitcoin-_In-_India.png</h1>
<h1>While Bitcoin has been legalized in Japan as an official currency, it has found some opposition in other places. Could that soon be changing?</h1>
<p>Welcome to India!</p>
<p>The land of over 1.3 Billion people.</p>
<p>Bitcoin has seen a massive surge in demand in India, however, it hasn't been recognized as an official currency just yet. Instead it is classified as an asset, similar to gold.</p>
<p>However, as more and more countries are jumping on board the Bitcoin bandwagon, the Indian Government is being forced to re-examine how they look at Bitcoin.&nbsp;</p>
<h1>Will that change anything?</h1>
<p>Perhaps.</p>
<p>In April of this year a committee was formed to examine the existing frameworks around Bitcoin and other virtual currencies both locally and worldwide.</p>
<p>The goal of this committee will be to examine and monitor the current virtual currency statuses in other countries and also discuss how they can combat money laundering and make sure the consumers of these products are protected.&nbsp;</p>
<p>The expectation is that the committee will make it's recommendations to the government by the end of July.&nbsp;</p>
<h1>To further expand on how serious India's government is taking Bitcoin (and virtual currencies)...</h1>
<p>Along with creating that committee, they also recently opened up the topic for public opinion in order to get some added input.&nbsp;</p>
<p>The public chimed in with more than 3,800 comments on the matter.&nbsp;</p>
<p>According to reports from the area, it is looking highly unlikely that there will be an outright ban on Bitcoin as was once a possibility. That seems to be sounding an awful lot like the stance Russia once took as well.&nbsp;</p>
<p>At one time Russia was contemplating outlawing Bitcoin and jailing anyone trading it. Now, they are talking about legalizing it as an official currency.&nbsp;</p>
<h1>The Times, They Are A-Changin!</h1>
<p>&lt;div style="position:relative;height:0;padding-bottom:56.25%"&gt;&lt;iframe src="https://www.youtube.com/embed/e7qQ6_RV4VQ?ecver=2" style="position:absolute;width:100%;height:100%;left:0" width="640" height="360" frameborder="0" allowfullscreen&gt;&lt;/iframe&gt;&lt;/div&gt;</p>
<p>(I love to squeeze this song in any time I can)</p>
<p>The co-founder of India's leading Bitcoin exchange (Zebpay), Sandeep Goenka had this to say regarding Bitcoin legalization:</p>
<blockquote>"We are cautious but optimistic that the government recognizes the need to regulate bitcoins and virtual currencies. We recognize that it's a challenging task for any government. We look forward to engaging with the task force setup to give our recommendations."</blockquote>
<p>To date, Bitcoin hasn't received much acceptance from Indian officials thus far. The Reserve Bank of India had this to say back in 2013 regarding virtual currencies:</p>
<blockquote>"The use of online and mobile technologies are driving the proliferation of virtual banks, virtual currencies, and provision of banking and payment services by unlicensed entities. While leveraging on technology has resulted in many benefits, especially in extending the reach of financial services, these developments pose challenges in the form of regulatory, legal, and operational risks."</blockquote>
<h1>Not much has changed since that time, except many more people are now transacting and trading them.&nbsp;</h1>
<p>Which is basically forcing the government to re-examine it's previous stance.</p>
<p>Currently, the major virtual currency exchanges Zebpay, Unocoin, and Coinsecure operate by following the current Know-Your-Customer and Anti-Money Laundering guidelines. Going forward, it will be very important to make sure that bitcoin transactions are non-cash transactions.</p>
<p>Meaning that every transaction from bitcoin to local currency is done via bank transfers or done using some other transparent mechanism.</p>
<p>This will be an important feature in combating money laundering. &nbsp;</p>
<h1>https://s8.postimg.org/ny0hviztx/IB55.jpg</h1>
<h1>Conclusion.</h1>
<p>While it looks like India might still be a ways off on outright legalizing Bitcoin as an official currency, it certainly is moving in the right direction.</p>
<p>It is very encouraging to see countries like India and Russia completely change their stance on Bitcoin and virtual currencies that they held just a couple years prior.&nbsp;</p>
<p>Looking forward to see many more following in their footsteps.</p>
<p>Stay informed my friends!</p>
<p>Sources:</p>
<p>https://en.wikipedia.org/wiki/India</p>
<p>http://www.investopedia.com/news/bitcoin-close-being-monitored-maybe-even-legal-india/</p>
<p>Image Sources:</p>
<p>http://www.getwalnut.com/blog/wannacry-attack-bitcoin-india</p>
<p>https://www.youtube.com</p>
<p>http://www.indiabitcoin.com/indian-entrepreneurs-enthusiastic-yet-cautious-about-bitcoin-informationweek/</p>
<p>Follow me: @jrcornel</p>
</html>

👍 donkeypong, jrcornel, trafalgar, gavvet, theprophet0, dimimp, teamsteem, toxic, hanshotfirst, ayusor, slowwalker, damarth, trevonjb, ezzy, lastminuteman, timsaid, joele, abdullar, bontonstory, ajvest, tradeqwik, jyp, deanliu, done, jaki01, somebody, cornerstone, lordvader, nanzo-scoop, xiaohui, oflyhigh, sephiroth, jamtaylor, lovejoy, streetstyle, geoffrey, dragonslayer109, infovore, rapp, lilmayo, grognak, bcc, cryptomancer, thegoldencookie, fricibacsi, voiceofreason, ethansteem, jacor, herpetologyguy, bluehorseshoe, honeythief, mark-waser, teammo, cristi, blinova, jademont, mauricemikkers, richq11, sauravrungta, aggroed, sazbird, ajaub1962, livingfree, midnightoil, and 372 others
👎 laolballs

`post_id`	4,829,220
`author`	jrcornel
`permlink`	next-stop-for-bitcoin-india
`category`	cryptocurrency
`json_metadata`	"{"format": "html", "links": ["https://www.youtube.com/embed/e7qQ6_RV4VQ?ecver=2", "https://en.wikipedia.org/wiki/India", "http://www.investopedia.com/news/bitcoin-close-being-monitored-maybe-even-legal-india/", "http://www.getwalnut.com/blog/wannacry-attack-bitcoin-india", "https://www.youtube.com", "http://www.indiabitcoin.com/indian-entrepreneurs-enthusiastic-yet-cautious-about-bitcoin-informationweek/"], "app": "steemit/0.1", "tags": ["cryptocurrency", "bitcoin", "beyondbitcoin", "steem", "india"], "users": ["jrcornel"], "image": ["https://s11.postimg.org/bzpqwrlv7/Bitcoin-_In-_India.png"]}"
`created`	2017-06-23 19:04:45
`last_update`	2017-06-23 19:04:45
`depth`	0
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`root_title`	"Next Stop for Bitcoin: India"
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properties (23)vote details (437)

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jamtaylor	148,911,639,578	100%
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gavvet	1,385,984,219,600	10%
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ak2020	5,256,999,067	2%
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justtryme90	18,042,965,538	10%
wongshiying	1,428,834,220	20%
infovore	128,792,162,948	10%
mark-waser	51,899,429,650	25%
geoffrey	133,151,889,673	11%
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prot	801,355,377	100%
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yogi	4,497,250,287	2%
lemooljiang	19,485,124,714	20%
sazbird	31,871,160,381	100%
youngkim	18,174,194,285	80%
pipokinha	8,409,533,733	100%
rapp	121,209,842,715	100%
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theprophet0	1,153,841,166,968	14%
capitalism	9,846,951,127	20%
cookie	112,632,545	100%
laoyao	14,206,677,233	20%
myfirst	2,087,588,385	20%
somebody	193,664,594,696	20%
toxic	745,177,658,836	100%
timsaid	317,219,743,084	5%
midnightoil	28,732,350,552	20%
andrew0	923,900,553	100%
xiaohui	163,669,011,827	20%
dolov	1,308,386,024	10%
elfkitchen	3,142,353,423	20%
fishingvideos	106,348,357	20%
joele	314,166,183,329	50%
oflyhigh	153,093,080,554	20%
randyclemens	17,782,439,368	100%
xiaokongcom	2,190,356,460	20%
cristi	45,812,678,165	15%
jrcornel	3,349,581,163,553	100%
hanshotfirst	744,687,948,994	25%
lordvader	180,371,141,104	25%
chinadaily	19,392,921,974	20%
helene	24,673,656,523	20%
lemouth	21,415,897,684	25%
thegoldencookie	104,260,010,459	100%
lamech-m	997,811,831	5%
almerri	337,587,923	100%
jsantana	3,218,611,251	5%
cryptomancer	105,366,281,211	10%
keepdoodling	4,043,670,317	10%
ethansteem	71,373,075,102	20%
jyp	220,741,311,981	100%
lily-da-vine	7,198,366,389	45%
sature	4,140,240,167	100%
runridefly	5,263,553,663	1%
jlufer	18,969,523,650	30%
yzomri	5,524,040,305	100%
davidjkelley	2,498,399,399	25%
aggroed	34,868,753,252	15%
ajaub1962	29,329,447,113	100%
ksena	4,381,638,389	80%
digital-wisdom	21,873,584,783	25%
ethical-ai	1,793,576,655	25%
cornerstone	189,619,276,953	20%
jwaser	13,284,119,074	25%
kyusho	6,163,595,562	5%
bluehorseshoe	62,811,431,543	100%
profitgenerator	19,211,843,130	100%
damarth	436,820,610,887	100%
bwaser	3,119,401,006	25%
heroic15397	9,459,712,690	100%
bontonstory	267,058,479,490	100%
inst74	2,962,067,792	100%
ellepdub	6,775,255,866	25%
herpetologyguy	67,379,110,853	25%
morgan.waser	5,539,042,778	25%
thegame	73,101,567	0.5%
steembets	88,188,022	0.5%
awesomenyl	1,090,495,392	20%
strong-ai	6,180,672,789	25%
abdullar	313,674,031,711	10%
birds90	3,657,506,265	20%
reabow	553,253,807	100%
arslanafzal95	628,066,995	100%
triverse	2,991,898,366	10%
ura-soul	1,641,414,299	20%
lydon.sipe	17,891,522,709	10%
jaki01	205,797,055,947	10%
slider2990	28,124,661,644	100%
lalala	2,048,901,615	20%
sunscape	10,629,799,679	10%
bjjblackbelt	431,847,101	100%
keuudeip	1,254,743,786	10%
stray	3,435,568,841	100%
themeanbean	22,493,367,685	100%
steemland.com	73,913,892	0.5%
diyfun	1,307,699,529	100%
devilwsy	355,826,959	20%
janiceting	355,715,478	20%
batanamatampuhin	260,540,207	100%
steem-myanmar	365,206,085	100%
steemprentice	2,533,855,565	1.5%
technoprogressiv	5,839,716,617	25%
mafeeva	2,195,132,897	2%
tradeqwik	230,812,808,006	25%
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steemsex	1,094,996,228	100%
richq11	36,896,760,873	25%
fricibacsi	88,954,266,623	100%
ptytrader	0	100%
nspart	2,460,971,652	5%
guytremat	20,528,291,593	100%
exanime15	3,015,995,158	100%
x-files	10,957,973,729	100%
dragon40	1,223,557,176	10%
lastminuteman	318,534,354,222	100%
watchout2017	433,509,901	1%
barvon	274,391,438	100%
sebastianjago	10,938,891,520	5%
blackbunny	2,616,386,111	20%
automaton	2,330,977,973	100%
ryanthegecko	2,035,715,893	70%
jasonrussell	22,295,672,617	100%
corvuscoraxx	487,102,194	17.97%
ejemai	342,547,813	100%
conradhann	2,530,709,876	100%
terencehill888	360,119,752	100%
lingfei	2,339,365,810	20%
henryking	3,677,735,930	100%
goodvibrations	18,734,944,819	100%
mariaalmeida	1,530,224,903	50%
hyzi0	1,237,219,964	100%
aaronmda	580,958,998	100%
torkot	3,789,602,208	33%
yyyy	618,823,797	20%
sebhofmann	15,463,871,783	100%
rudocm23	135,267,815	100%
stenonotes	10,311,369,574	100%
teammo	49,093,720,073	100%
kzollove	8,981,943,849	100%
voiceofreason	76,905,244,699	100%
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williams858	9,399,999,377	100%
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ayusor	621,522,256,749	100%
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bcc	110,159,279,380	10%
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goodhunter	1,247,147,425	100%
saifulbahri	1,563,466,104	100%
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outerground	2,826,273,787	100%
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synapse	457,496,811	100%
contentguy	1,454,063,213	100%
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passion-fruit	4,352,849,609	25%
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jdawg	4,318,864,069	100%
buster544	454,601,238	100%
treetoptennis	13,451,965,813	100%
blackmanta	379,017,400	100%
nitinchugh	1,131,635,601	100%
toru	881,530,196	70%
emcvay	69,145,528	5%
grognak	111,047,142,848	15%
cryptopher	723,629,117	100%
sv67216721	1,085,570,122	1%
lilmayo	111,750,724,020	100%
popponayashelly	11,684,137,975	100%
tungie	3,137,407,289	30%
irf1	16,369,380,251	50%
williamgomez	2,054,214,855	100%
bitbybit	6,198,325,897	100%
altcoinlife	9,505,353,590	100%
schlees	1,691,214,909	100%
hammadkhan	363,688,641	100%
cryptosunil	12,579,517,749	100%
gabriel4589	1,155,847,460	100%
junglist	4,849,115,694	100%
clysse	982,180,061	25%
jiva34	1,350,980,546	13%
pajak	2,970,162,040	100%
akemirayko	2,648,009,658	50%
semarg	22,285,465,134	100%
beordo	4,603,958,118	100%
beng05	54,706,052	5%
followbtcnews	4,097,577,384	15%
thelemicdragon93	4,047,368,320	100%
carface	10,494,523,152	1%
sjc333	3,030,216,747	100%
sneakgeekz	23,847,752,585	25%
kingsaruxiii	4,468,706,636	50%
bigram13	6,281,272,286	100%
leomichael	20,634,970,489	17%
done	217,361,961,694	5%
jkkim	15,087,034,858	10%
patasieduagh	183,953,882	100%
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eval	114,631,260	20%
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justaboutart	855,529,708	100%
randomwhale	486,660,090	100%
bba	1,894,162,696	100%
shadowthrone	11,625,688,767	100%
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dafilipaj	1,054,399,713	100%
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jeffreylikeyou	99,711,686	100%
saintrola	92,856,659	100%
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sambo-rambo	120,279,242	30%
teutorigos	393,941,872	100%
drled	52,231,855	100%
ekan	372,022,599	100%
msekh	1,338,476,919	100%
mbiggs51184	327,131,030	100%
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amanjain2k	1,109,875,500	100%
rufaz	873,383,898	100%
sgooding1	956,693,612	100%
gil.paez	1,066,213,867	100%
cryptogaming	422,516,561	100%
sandy143007	69,276,188	100%
harttwohartllc	812,524,014	100%
bestcoin84	1,101,758,288	100%
emag	179,660,312	100%
shadmannnn	1,301,987,859	100%
brk1992	1,108,475,095	100%
andreysar	860,791,700	100%
parthpatel	536,949,107	100%
hubriscubris	867,482,968	100%
steemisthebest	1,075,256,143	100%
fproductions	184,289,160	100%
bisade	1,240,168,736	100%
linniek	166,988,103	100%
techforn10	893,743,697	100%
meteor	1,120,081,304	100%
brnofre	2,827,761,186	100%
zkazhmag	1,398,731,964	100%
rolynikita	1,179,000,183	100%
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mathunter	0	100%
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obuckridge	92,856,213	100%
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@jondahl · Jun 23 '17

Good post...

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@dune69 · Jun 23 '17

Bitcoin is taking over the world.. Is it the beginning of the end for the dollar

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@rishavraaz · Jun 23 '17

follow me

👎 kingmotan

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@kingmotan · Jun 23 '17

$1.55

I don't know if they are just trying to keep up with recent times or they're just looking into a way of monetizing on it, like most governments do .
Anyhow , with India's population it's hard not to have an impact

👍 randowhale

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@randowhale · Jun 29 '17

This post received a 0.9% upvote from @randowhale thanks to @kingmotan!  For more information, [click here](https://steemit.com/steemit/@randowhale/introducing-randowhale-will-you-get-the-100-vote-give-it-a-shot)!

👍 thedumpster

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@scandinavianlife · Jun 23 '17

Soothing news :)

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@warrenvee · Jun 23 '17

This is yet more good news for btc. I can't wait till the bip148 is over :)

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@vj1309 · Jun 23 '17

I just hope government doesn't play it's legality card and ban cryptos....if India accepts bitcoin I think it will be a big boost for overall crypto market since many emerging economies will come under pressure to follow India's suit.

👍 vj1309

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@bba · Jun 23 '17

$0.04

Whatever their intentions, it is a step forward for bitcoin and that is what matters.

👍 bba, stephen3001, zero-g

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@fproductions · Jun 23 '17

http://lawandbitcoin.com/wp-content/uploads/2015/08/taj-majal.png

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@bisade · Jun 23 '17 (edited)

$0.09

More countries are starting to realise the value of the bitcoin, very encouraging that governments are taking a more supportive approach about the cryptospace. Currently watching how the US responds to BTC, so far it hasn't been looking that great. but If the US backs BTC, then expect other countries to follow suit.

Great post, thanks for sharing :)

👍 hansit, bisade, sagema

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@automaton · Jun 23 '17

$0.04

Government should not be in the business of money.

👍 automaton, sagema

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@amanjain2k · Jun 23 '17

Indian's loves investment whole world know Indian love for gold cryptocurrency 
it can work as substitute for gold. Hope Indian government legalize it in without shitty rule. Hoping for the best.

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@earnonlinewith · Jun 23 '17

Great news indeed. India is one of those countries that need bitcoin or any other cryptocurrencies to be their official currencies. With 1.3 Billion people, the country will be more connected and easier to do business outside its borders, thus providing for a great economic reform.

👍 earnonlinewith

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@prabhatchugh · Jun 23 '17

$0.04

Hii..

I am an Indian and I myself have witnessed the revolution of cryptocurrency and its increasing demand in the Indian market.
I really wish the Govt. release some guidelines asap. I anticipate the price a lot higher if bitcoin is legalized in India.

👍 prabhatchugh

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@carface · Jun 23 '17

The one thing governments don't want to lose is their power. Bitcoin threatens that although they know they can't stop it outright as if they ban it then they are heavily disadvantaged against the rest of the world.

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@neil-rothbard · Jun 23 '17 (edited)

I keep reading this , here is the problem governments every where are in the process of regulating crypto currency.  The crypto currency that a nation ends up adopting will the the one they can control.

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@rolynikita · Jun 23 '17

bitcoin to the moon thanks for the info man, upvoted

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@neil-rothbard · Jun 23 '17

india's largest banks have signed on to Ripple FYI...

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@evanrvoss · Jun 23 '17

$1.26

When a country can't beat it, then they join it.....(This is what we are seeing in India and Russia).   With each country starting to regulate, or at least acknowledge bitcoins existence, the price will drastically start compounding upward :)

![](https://steemitimages.com/DQmTRwsq5zJcSi2zP6TYyv63bvDd5Zk2crZC27SujX6XgDJ/image.png)

👍 evanrvoss

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@codebreaker · Jun 23 '17

$1.58

Governments started to accept cryptocurrency one way or another. For example, Russia removed ban on bitcoin. Japan officially accepted bitcoin. These are signs that cryptocurrencies are going to play a vital role for a country's economy in near future. 

Banks already working to adopt blockchain technology. In fact financial companies like paypal are working on it to find a secure and robust transaction processing solution for their internal use.

👍 randowhale, stephen3001, crypt0kong, emiliocervantes

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@randowhale · Jun 23 '17

This post received a 2.1% upvote from @randowhale thanks to @codebreaker!  For more information, [click here](https://steemit.com/steemit/@randowhale/introducing-randowhale-will-you-get-the-100-vote-give-it-a-shot)!

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@tungie · Jun 23 '17

A major reason to legalize it, besides promoting technology, is to tax on bitcoins. Once legalized governments can impose VAT on it which will bring millions to governments (and thus cost us millions)

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@captain-nemo · Jun 23 '17

Imagine the size of the blockchain once 500 million people start to send micro-transactions daily.

👍 sagema

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@imwatsi · Jun 23 '17

It's either they accept cryptocurrency or they disadvantage themselves as a result. Cryptocurrency is certainly gaining ground and its usefulness is proven day by day, hence the increased popularity and usage. I think it's only a matter of time before governments accept it, though the timing will be different for all countries, some doing it soon and some later.

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@capitalism · Jun 23 '17

Traditionally Indians buy Gold as wealth storage. If they diversify a share of it to Bitcoin this would bring hundreds of millions new investors to crypto. That could bring us to a price of 10k.

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@hansit · Jun 23 '17

But what about precious metals? Is there a place for gold and silver in the future? What about a gold backed BTC. Thats something to write home about, isn´t. I think the cryptocurrienses are forerunners breaking the way for gold and silver.

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@j-a-x · Jun 23 '17

I believe Australia joins the party in July/August? I wonder these days, whether 'they' see it as a way out, as the current financial system is no longer functioning, and they have no idea what to do, beside keep printing. Bitcoin and similar could be their saviour.

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@melowd · Jun 23 '17 (edited)

Great news! Cannot wait for bitcoin to be Known Worldwide.

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@bitbybit · Jun 23 '17 (edited)

Most interesting about this post is that it is old news. A different #STEEMIT user (@kingscrown) posted the same news 2 days ago!

https://steemit.com/bitcoin/@kingscrown/bitcoin-officialy-legal-in-india

Why is this interesting? Because these stories are regurgitated and have STILL accumulated a combined $2K+ in payouts...

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@jrcornel · Jun 23 '17

$36.23

Actually they are talking about two different things. This post is talking about possibly legalizing bitcoin as an official currency... the other is not.

👍 jrcornel

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@bitbybit · Jun 23 '17 (edited)

I agree your's dives a little deeper but the title doesn't give it justice. The title could read:

<h2>"After Legalizing Bitcoin, India Moves Toward Making it an Official #Currency"</h3>

Also, you probably could have dug a little deeper as to why there is consideration for legalization as a currency. 

For instance, for the past 5 years, the #Rupee has lost tremendous value due to inflation and a stronger dollar, creating an even bigger gap between the rich and middle class/poor. Bitcoin as a currency will eliminate currency devaluation and give the working class more opportunities to thrive.

Just some constructive #feedback :)

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3 replies

@mrdeerants · Jun 23 '17

India has joined the alliance folks. Not just with this action but if you don't see this a giant blow to the central banks...you must be crazy.

https://s-media-cache-ak0.pinimg.com/564x/1b/d5/eb/1bd5eb0be5f4904244226c132256e061.jpg

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@egzon · Jun 23 '17

hey guys check this out and follow me plz  https://steemit.com/breakingnews/@egzon/btc-breakout-alert

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@watchout2017 · Jun 23 '17

$0.38

When you really sit down and see the people behind Bitcoin things start to become clear (e.g., Max Keiser wife).  This is a stepping stone to what will be the new financial system, but it wont be with Bitcoin because its designed to fail.  Besides that their tech isnt up to date with other new platforms such as ETH/Litecoin/etc....

I do think that Bitcoin will go through the roof and for that I am an investor, but if youve been involved in Bitcoin since 2011 you will find that it has rasied and dropped huge amounts over its span. 

We oldies are used to these radical moves because we hang on to it and wait patiently.  It always comes back and stronger.  How many times will this happen until they break the entire system and merger all Crypto with one of their own...

Domi

👍 watchout2017, geechidan, beatcancer

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@rjona1 · Jun 23 '17

$0.02

I think the  Bitcoin price would becomes more stable over time as more people invest and price goes higher. With more Bitcoin in peoples hands, it would be less affected by a few large transactions. And as price increase  , people would have less incentive to rock the BTC boat.

That is why Bitcoin would be here for a long time. The gold of the new financial system. The other alt coins like ETH/Litecoin could be used for payments or money transfers which they are better suited while Bitcoin would just become a storage of value protecting money from inflation

👍 watchout2017, brk1992

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@watchout2017 · Jun 24 '17

$0.27

I agree.  If Bitcoin goes to 1million then we can see how it could be used as an inflation regulator.  I do think this will happen, but it will take several more large swings in the meantime.  Expect one soon.  If not, then it goes to the moon.

Domi

👍 watchout2017

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2 replies

@robjc · Jun 23 '17

Holy smokes! hold on to your bitcoins everyone!!!

👍 robjc

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@golfncrypto · Jun 23 '17

I think this is just a start. Watch how when countries adapt there will be a domino effect. This will bring media attention which drives hype. With hype goes price $$$

👍 golfncrypto

properties (23)vote details (1)

@sagema · Jun 23 '17

I hope India fixes their horribly corrupt government. I hope there's a day when that's not a common thing to say about government. Crypto will only help.

properties (22)

@parthpatel · Jun 23 '17

If Bitcoin, digital currency for that matter, gets legalized in India then it will surely have a huge impact on crypto currency market. India has many potential users and investors who will jump instantly if Bitcoin gets legalized status. It is yet to be seen that what conclusions that committee  comes up with and what type of regulations govt would bring in.

👍 parthpatel

properties (23)vote details (1)

@djsivalinga · Jun 23 '17

The amount of wealth it'll generate for India will be unprecedented and politicians know that

properties (22)

@parthpatel · Jun 23 '17

Yeah. That's right.

👍 djsivalinga

properties (23)vote details (1)

@marchek · Jun 23 '17

Is there a lot of other countries bitcoin is legalized like an official currency ?
Because it's a really good thing.

Btw : I love your work

👍 marchek

properties (23)vote details (1)

@brnofre · Jun 23 '17

Great post!! Keep it up :)
By the way, I'm following you now
Cheers

👍 djsivalinga

properties (23)vote details (1)

@djsivalinga · Jun 23 '17

Asian countries are accepting it, yet old and crusty US politicians are proposing bills that will criminalize holding it.

We should consider starting a website/guide geared towards those in Law Enforcement, on the potential digital currencies have on making their lives better also. After all they will be the ones enforcing these backwards thinking laws by these old crusty men in Washington who really don't even care about us, and therefore don't care about them

👍 djsivalinga

properties (23)vote details (1)

@sherlock2 · Jun 23 '17

$0.03

Awesome post! Interesting to see how even the countries that were against bitcoin the most are now totally changing their mind. That's also one of the reasons that i think the latest rise isn't a bubble but actually is a real rise in value! Keep up the good work with such nice posts!

👍 sherlock2

properties (23)vote details (1)

@shadmannnn · Jun 23 '17

I wrote an article on Incredible India. About my visit to India (Calcutta and Darjeeling). I'm from Bangladesh, and I'll be glad if you read my article.

Link: https://steemit.com/travel/@shadmannnn/incredible-india-travel-guide-or-dhaka-or-calcutta-or-darjeeling

Thank you. :)

properties (22)

@rjona1 · Jun 23 '17

I believe the one of the importance of Bitcoin to India is thru the remittances that flow from many Indian expats working abroad. Money can now be sent safely and without so many fees. This would bypass the banks and remittances agencies that charge a lot to handle sending of money to India.

properties (22)

@bramy · Jun 23 '17

this is just the begining![giphy (3).gif](https://steemitimages.com/DQmXNY1xDjwQsnSWkUmhDxNAfkySC2VGJ4dPRoBFpzPXtWi/giphy%20(3).gif)

properties (22)

@taigachan · Jun 23 '17

I am really tempted to move back to Japan at this point. I lived there for awhile and I can see exactly why they want to move into crypto. They are still a mostly cash society and don't really like using credit cards much. It was a hassle to use a credit card there where I lived (out in the "inaka"). If they can get people in the backwoods and everywhere into crypto, Japan will be way ahead of the curve. The US on the other hand... let's just say I'm getting really tired of this country at this point.

properties (22)

@geechidan · Jun 23 '17

What we seriously need to talk  about are leeches and snakes within Bitcoin. Yeah sure Bitcoin is taking off, I love it. Sure it's a great investment that's fast and easy to use. I get my money immediately. But I can't quite help to notice that every time I turn around, there are leeches all over the place in the bitcoin world. With this new currency come the same snakes and leeches you deal with in regards to the fiat currency. Bitcoins ATM charge you a ridiculously high scandalous rate. Coinbase limits your purchases to very little and can hold up your money (and interest earned) for days after a purchase. All this with no support replies or nothing. You literally have no idea where your money is for DAYS!!!. Paypal sellers of Bitcoin want to sell the coin for as much as 300% above it's value...Yes, 300%. All while asking you to open up your asshole while taking a picture of your ID. I've never seen such disgusting behavior. I couldn't believe it when I saw that amount of money being charged for Bitcoin via a Paypal seller. I got a BitPay Visa two weeks in the mail after ordering...BitPay takes damn near 60% of the bitcoins in your wallet that you have... just to load it unto the  Visa card. So...do you know where the millionaires are coming from? I'll tell you Scumbags like these, snakes like ...probably you...and anyone else who I expect to defend this disgusting behavior.

properties (22)

@shadowthrone · Jun 23 '17

Thanks for posting this. I always look forward to yohr posts since i learn more and more each time.

properties (22)

@kumaran444 · Jun 24 '17

really useful links are provided

properties (22)

@victorier · Jun 24 '17

$1.13

I always feel sad when I see bitcoin/ altcoin become legal or properly adopted in other countries. As it makes me feel than Hong Kong is really doing soooo bad on it. Come one, to be a financial center, you have to make yourself updated and catch the world trend!

👍 good-karma, feruz, meysam, esteemapp, bounties, steempoll, demo, tipping, mysteem, harleymechanix

properties (23)vote details (10)

@coffeelovers · Jun 24 '17

@jrcornel it is also essential to understand that there are research reports done in India on the digital currencies which may also need your attention here http://economictimes.indiatimes.com/news/economy/finance/digital-currency-to-abet-money-laundering-report/articleshow/21212640.cms

👍 coffeelovers

properties (23)vote details (1)

@firepower · Jun 24 '17

Thank you @jrcornel for the great post!

properties (22)

@eltooni · Jun 24 '17 (edited)

Look these crypto currencies are needed, you cannot have it monopolized just by bitcoin, people will need other currencies to be more secured and to have more chances to win from fluctuation. 

I myself believe that this is the time of the internet millionaires/billionaries. We just have to use it and i am not meaning the ones that are CEOs of these ideas. I mean us the little people who can benefit from them.

properties (22)

@akshayraje · Jun 24 '17

It can be a bit difficult for first time Indian investors or traders in alt-coins. I have published this India specific post for such folks - https://steemit.com/bitcoin/@akshayraje/how-do-i-buy-sell-bitcoins-ethereum-tokens-in-india

👍 zipapps

properties (23)vote details (1)

@ika497 · Jun 24 '17

very good post. upvoted & following u. looking forward to your next post. hope uwill like my this post. pls upvote it. https://steemit.com/science/@ika497/do-you-want-to-test-your-intelligence-6-pictures-to-test-your-intelligenece-have-fun
thanks.

properties (22)

@drkewalmd · Jun 24 '17

Indian here...At present the cost of a bitcoin is significantly higher on Indian exchanges than in international markets. I personally use zebpay (They  were the quickest to complete KYC procedure). EthexIndia has come up with an ethereum trading platform recently. 

Otherwise it is a bit difficult to get your hands on bitcoin/ altcoins in India. As the exchanges increases and supply increases, prices should match international ones. 

Essentially every company an service has come up with their own wallet now. E.g. Makemytrip, Ibibo, airtel and even axis bank... I think all these will soon make way for the real cryptos! 

Once India gets in the game, the boom is inevitable!!! Looking forward to that time, Till then hold your cryptos! :D

Cheers! 
Follow @drkewalmd

👍 drkewalmd

properties (23)vote details (1)

@coinlend · Jun 24 '17

$0.43

India will be big for bitcoin. Then russia next!

👍 coinlend

properties (23)vote details (1)

@abn · Jun 25 '17

$0.08

India legalizing this currency would be a huge leap in progress. Here is to the hopes that it happens. New follower here, look forward to your content.

Thanks
@abn

👍 abn

properties (23)vote details (1)

@btcunchained · Jun 25 '17

From India.... We are hoping Bitcoin to be officially legal in India. Chances are high 
☺️👍 it will be confirmed within 3 months.... Surely it will boost Bitcoin capitalization

properties (22)

@saanigol0831 · Jun 25 '17 (edited)

Indian Government is still considered for the side/illegal effects which might take place due to bitcoin and so its still taking suggestions on how to make it secured so that they will be able to trace it and moreover the MLM guys are at high spoiling the bitcoin's name in India(creating a negative thought in India)

check it- https://steemit.com/bitcoin/@saanigol0831/what-is-bitcoin-a-bubble-or-a-future-dominating-biggest-currency

properties (22)

@kenhudoy · Jun 25 '17

$0.08

@jrcornel

nice info
i just learnt from you that japan has accepted btc...

great news coming from india and with such , it seems btc will rise in value...good info

👍 jesta

properties (23)vote details (1)

@lougher · Jun 25 '17

Lets hope they have a cheaper exchange than coinbase!

properties (22)

@imwatsi · Jun 25 '17

$0.02

Despite the negative initial stances, the true value of Bitcoin is recognized with time. They change their stance after seeing how useful it is. More and more people will do this.

👍 imwatsi

properties (23)vote details (1)

@thegame68 · Jun 25 '17

$1.04

While Bitcoin has been paralysed by indecision, Ethereum has raced ahead with technology that not only does everything Bitcoin can do faster, in higher volume, and at lower cost — it does a lot more besides.

# Bitcoin’s dominance is slipping because its utility is limited and weakening versus other more recently developed, less politicized cryptocurrencies. Financial markets don’t like uncertainty, and Bitcoin is gearing up for a messy divorce. Ethereum was never intended as a competitor to Bitcoin, it’s something very different.

👍 good-karma, feruz, esteemapp, bounties, steempoll, demo, tipping, mysteem

properties (23)vote details (8)

@greengroove · Jun 25 '17

> It is very encouraging to see countries like India and Russia completely change their stance on Bitcoin and virtual currencies that they held just a couple years prior. 

I wonder what changed for them. :p

properties (22)

@exan · Jul 1 '17

<table><tr><td>https://steemitimages.com/60x60/https://cdn.pixabay.com/photo/2012/04/16/12/26/chart-35773_1280.png</td><td>

**Congratulations @jrcornel**

You took 65 place in my [Top 100](https://steemit.com/statistics/@exan/top-100-posts-with-maximum-payout-2017-06-30) of posts
</td></tr></table>

properties (22)

@lifecruiser · Sep 28 '17

Other cryptocurrencies are also emerging in India. Mining is also gaining popularity in India. People are exploring a lot on Blockchain. Looking forward for more support from the government and larger acceptance.

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