Re: India and Bitcoins

Quote from: Lasvista on March 09, 2018, 04:42:29 PM

Quote from: ThiruBTC on February 06, 2018, 07:23:26 AM

In India, Bitcoin is not a legal tender. But it is not explicitly termed as illegal. What is the reason for such a stand by Government? what are its implications?

Well the government think that bitcoin is a threat on the people of india and a lot of people see bitcoin as a scam or a ponzi scheme , which is not true I gathered some information and the link I got is down below feel free to look at and tell me what you think about it?.

Link: https://beta.techcrunch.com/2018/02/03/psa-no-india-hasnt-banned-bitcoin-but-its-still-talking-tough-on-crypto/

I think the problem with India is that it depends on loans. Bankers do not want to promote cryptocurrencies to the masses. After China, India is the second most populous country. The ambiguous attitude of the Chinese government to the cryptocurrency hinders the promotion of bitcoin. Perhaps the bankers spent a lot of money to buy this position of the Indian government.