Black Money. Simple.
this was what I was worried would be the case.is it true? is this why people trade like this outside of exchange?
btw you can still declare income,pay tax even with hard cash, right?how is it black money then?
There is also a factor of fear driving these 'out of exchange' trades - What if the person gets into trouble due to the Governments lack of stance on Bitcoin?
There is also a factor of ignorance driving "out of exchange" trades - What is a government gets into trouble due to the people's lack of understanding on Bitcoin?
Yup, thats for sure.
But that is not the reason for driving 'out of exchange' trades. Should be the reason for the Government to be cautious though.
Goverment are so cautious that no one hear as any idea. Maybe, you should ask you credible contacts who attempted
PIL to dig more till they hit Office of Finance Ministry.
Oops! Again,
my really really bad assumptions on personal level that hardly keep thread on track.