Quote from: djbabu on November 03, 2017, 06:38:48 AM

Hi,

Why everyone is responding on paypal is legal or not, Stop replying on paypal, discuss about bitcoin !!

Latest news is this ->https://navbharattimes.indiatimes.com/business/business-news/war-on-bitcoin-govt-panel-seeks-crackdown-on-cryptocurrency-dealers-in-india/articleshow/61464930.cms

Bitcoin is very good way to hide your black money , Money is coming from there may be hawala too, this make it growing but what would happen to bitcoin price like when china bans the ICO its drop's Same will happen when India ban.

lets say if some excahnge get hacked like in Japan , then what this government will do , They will simply say we don't know why you even invested on it, so all exchange will go there home with your money and you as indian will not able to do any thing.

People who are saying that these companies are paying tax means they are legal but no they are not take an example of indi coin , they are doing 1 ICO for india which is very goo , but they registered domain name with andaman & nicobar address wow (not posting the screenshot last time admin removed it), yes but they are legal but they do no come under companies act , they registered NGO for it .

Paying tax will not make them legal else all MLM companies are legal.

Bitcoin is a horrible way to hide black money. Would you hide your black money on an irreversible public ledger? The IRS is already using chainanalysis software to triangulate and track Bitcoin. You know what's the best way to hide black money? Cash, followed by Banks. Who helped launder money during Demonetization? Petrol pumps and banks, with licenses from beloved government.
That said, in agreement with your point on ICOs.