Great! signed up. Excited to be a part. When is the launch date and when will I receive my tokens?

Very interesting project. When can we buy YLD tokens?

https://economictimes.indiatimes.com/markets/forex/bachchans-ride-bitcoin-wave-250000-investment-in-ziddu-swells-to-17-5mn/articleshow/62141321.cms

MUMBAI: Big B is at the crest of a Bitcoin wave which few — least of all the Bollywood men — had probably ever imagined.

The cryptocurrency mania that has gripped Wall Street and many financial markets across the world has driven up the value of a stock investment by the Bachchan family from $250,000 to $17.5 million in two and a half years.

In May 2015, Amitabh Bachchan and his son Abhishek invested $250,000, as part of their personal investment, in Meridian Tech ..

Read more at:
//economictimes.indiatimes.com/articleshow/62141321.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

I would suggest to store your coins in a hardware wallet like the ledger Nano S.

: https://www.ledgerwallet.com/r/a117?path=/products/

Ethxindia should seriously consider lowering their fees.

I'm hoping coinsecure adds Eth trading. One of the best exchanges.

http://www.coindesk.com/report-indian-government-considers-tax-bitcoin-purchases/


Local reports indicate that India may put in place a goods-and-services tax on bitcoin purchases.

Indian officials have been meeting for months to develop a legal framework for digital currencies, forming a special task force in April to study the issue and develop possible options. The question of legality for the tech under Indian law has been subject to speculation in the past, especially following public statements that, at one point, were interpreted as a blanket ban on bitcoin.

Regional news service The Hindu reports that new details on that process are emerging, including the possibility of taxes. Notably, according to one official's account, the topic of banning cryptocurrencies was indeed broached during a recent meeting – but in the end, the proposal received little support.

The official told the publication:

"Banning will give a clear message that all related activities are illegal and will disincentivize those interested in taking speculative risks, but it was pointed out it will impede tax collection on gains made in such activities and that regulating the currency instead would signal a boost to blockchain technology, encourage the development of a supervision ecosystem (that tracks legal activities and may also assist in tracking illegal activities) and promote a formal tax base."

Trading activity may also come under the jurisdiction of the Securities and Exchange Board of India (SEBI), which regulates the country's securities market.

more : http://www.coindesk.com/report-indian-government-considers-tax-bitcoin-purchases/

great initiative. I would suggest using a Build-in escrow service for trust. You can check out another good bitcoin freelancer website like https://www.xbtfreelancer.com/

Exactly the fees is pretty high. The minimum amount of Eth one can buy and sell is 1 Eth.

why is Unocoin still down?

any idea how I could send SNM tokens from myetherwallet to another wallet? Its not going through.

Makes sense. But how exactly are they going to find out for how long we've been holding the gains for? I assume they would check the transaction history which could take ages. And what about if one purchased more every day or so? Regulators are gonna have a tough time figuring this out IMO.

India could legalize Bitcoin in the near future as feedback from citizens and businesses appears to be in support of regulating virtual currencies.

more: http://bitcoinist.com/india-legal-bitcoin-next-regulation/

INDIA’S GOV’T ASKS PUBLIC ABOUT VIRTUAL CURRENCIES

The online comments section, which is to run for 10 days, has already received nearly 4,000 submissions since it was launched on May 21st.

The areas polled are: whether Virtual Currencies (VCs) should be banned, regulated or observed? In case VCs are suggested to be regulated, then what measures should be taken to ensure consumer protection, promote development and also which institution should be monitoring and regulating them?



It goes on to also ask what would be effective self regulatory mechanisms, and the methods which should be adopted to ensure consumer protection in these scenarios.

FEEDBACK FROM CITIZENS & ORGANIZATIONS

Most comments are brief, but they do represent a generally positive opinion of Bitcoin and virtual currencies in general with some encouraging everyone to profit via taxation.

For example, one person commented:

Bitcoin, Blockchain is the future of finance, administration, governance, markets, IT etc. This technology has huge potential for a growing country like India. India should follow Japan, embrace this technology without introducing road blocks. If India put regulatory burden on it, it will not limit the technology but will keep India isolated from its benefits. Like internet, tech will grow irrespective. We have choice to embrace, or be left behind..
Another person said that government regulation will help reduce corruption and black market trade as well as proving useful for the economy as a whole.

Tarkesh Tambulkar wrote:

Bitcoin is the future of India, it is also increases the tax of Indian government. So it should be regulated
“Bitcoin regulatory should improve economical growth in India, crypto currency makes digital India to reduce poverty in future it will reduce corruption and black money if government takes action to make bitcoin is legal and regulated,” added Melika Rajarao



Multi Commodity Exchange of India Ltd also weighed in, commenting:

We propose that Bitcoin be accepted as legal financial instrument in India and the regulations be governed under a separate ‘Virtual Currency Act’. The adoption of virtual currency should be encouraged in India since Blockchain technologies are now considered to be the future of electronic financial transactions. A very strong impetus to legalize virtual currency is its potential to drastically reduce corruption, shrink transaction costs and eliminate third party involvement.
There are some dissenting voices too, who call for the currency to be banned outright.

“We must impose ban on all kind of cryptocurrency at the earliest. It should be made illegal Gready indians [sic] have already invested their hard earned money and they are going to lose their money very soon,” wrote Manish Rai.

Overall, the responses appear to be in favor of “legalizing” Bitcoin via regulation, with other commentators seeing it as beneficial to the technological growth of the country, as well as staying in line with international trends like in Japan.

9 OF 10 NEW INTERNET USERS WILL BE INDIAN

It is important to also consider India’s unique position, and the type of citizen who would actually be commenting online. India is a developing country with much of its internet activity currently done in English, relating as much to infrastructural barriers as much as language ones. What’s more is many only connect via their mobile phones.

These issues were explored in a report conducted by the consulting firm KPMG India and Google exploring the use of the Internet in the country.

“80% of Indian language internet users face challenges in using English keyboards. About 55% of the users find the high cost and limited internet access as key barrier for using the Internet regularly,” the report states.

There is positive news though, as the country would seem to be overtaking China in terms of new internet adoption.

“In the last few years, the rapid scale of adoption of Internet across the country has set the ball rolling and today Indian language users have already overtaken the total number of English language users on the Internet in India,” the report notes.

The report forecasts that digital payments, online government services and e-tailing will see the fastest growth in adoption by Indian language users.


 Sunny Ray @SunnyStartups
Bitcoin is going mainstream in India. @Unocoin #IndiaBitcoin
6:37 PM - 31 May 2017
  255 255 Retweets   375 375 likes
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At the same time, Bitcoin appears to be spreading rapidly in India, which can be see by a constant rise in trading volumes and increasing merchant adoption throughout the country.

paypal has always been legal in India. You are very ill-informed my friend. There a plenty of ways the Indian government can tax crypto users. Other countries have already figured out ways they can regulate bitcoin.

Just remember to not invest more than what you can afford to loose. The crypto market is very volatile and its difficult to predict anything. Be prepared and watch the news and market if you wanna stay in the game. Start of with a small amount so that you can get used to the market and don't mind if you get a small loss, it will teach you to be prepared for anything.

HIGHLIGHTS
The cryptocurrency’s value has skyrocketed in 4 years – from $13 for one bitcoin to $1,182.
In India, one can buy bitcoins through a Bitcoin exchange or directly from an individual.
There are some who make money buying bitcoin off one exchange and selling it on another.

Read more : http://timesofindia.indiatimes.com/india/meet-the-indians-who-bet-on-the-hottest-virtual-currency/articleshow/58213259.cms

The term “Ponzi scheme” is often used by conventional “economists” and politicians to describe Bitcoin. But, the utilization of the term to explain Bitcoin’s structure demonstrates a high level of incompetence and a significant lack of economic and financial knowledge.

It was quite evident that Somaiya had little to no understanding of the structure of neither Ponzi schemes nor Bitcoin. He presented a severely flawed argument by comparing self-regulation to a Ponzi fraud.

However, his comparison of Bitcoin to a Ponzi scheme was flawed in every possible way, as Ponzi schemes are not self-regulated, they are regulated by a closed group of operators.

The government of India and its financial regulators are taking a different approach to that of Somaiya. Many of the regulators have an actual understanding of Bitcoin, its implication to the global economy and the supposed role of regulators in enabling the local Bitcoin industry to grow.

I'm glad that the Gov of India did not take any rash decision and looked at the tech from another angle. Hopefully the team that was given responsibility look at the benefits of crypto technology and work out the best possible solution. looking forward for some good news in 3 months.

https://cointelegraph.com/news/bitcoin-ponzi-scheme-indian-government-seem-to-disagree-with-claim

A committee of government and central bank officials in India is set to propose new regulations related to digital currencies.

The Indian government's press service announced today the creation of an interdisciplinary committee drawn from both the Reserve Bank of India as well as the Ministry of Revenue, Department of Financial Services and the Department of Economic Affairs, among others.

Also included are representatives from NITI Aayog, a government-backed think tank, and the State Bank of India, the country’s largest bank.

According to the release, the committee will prepare a report, recommending policies related to money laundering and consumer protection, among other areas.

The report is expected to be delivered within the next three months.

The government said:

"The committee will (i) take stock of the present status of virtual currencies both in India and globally; (ii) examine the existing global regulatory and legal structures governing virtual currencies; (iii) suggest measures for dealing with such virtual currencies including issues relating to consumer protection, money laundering , etc; and (iv) examine any other matter related to virtual currencies which may be relevant."

It’s a notable development given that, just weeks ago, statements by a deputy state minister sparked a media flurry suggesting that India had moved to ban bitcoin, prompting calls for the government to clarify its position.

In a way, the committee will answer those calls in what could lead to a major regulatory shift focused on the tech. Yet the tone of the release – which states that "the circulation of virtual currencies which are also known as digital/crypto currencies has been a cause of concern" – indicates that the officials may adopt a stricter stance as they develop policy proposals.

The developments come more than three years after the Reserve Bank of India first issued a warning to domestic consumers about digital currencies.

source : http://www.coindesk.com/indias-government-consider-new-digital-currency-rules/

Like Gandhi Said : "First they ignore you, then they laugh at you, then they fight you, then you win"

Guess we are at the fighting stage now.

I would recommend Coinsecure : https://coinsecure.in/signup/RxxA9wACRBInpVE6aVOB

Great place to buy and trade bitcoin.