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09-07 06:15 - 'Bitcoin legality in India – Is Bitcoin Legal ?' (self.Bitcoin) by /u/x23_shivam removed from /r/Bitcoin within 1501-1511min

'''
Bitcoin has been a heavy financial blow to the trading world since it rose to significance. The flickering uncertainty of the traditional economy, entirely controlled by the government has caused several disastrous events in the past. But Bitcoin or any other cryptocurrencies in the world are completely free from government and political influence, which don’t lose its value over a political takeover.
India has also witnessed the rise of cryptocurrencies like Bitcoin in some events. You may remember the demonetization and the aftermath of it. Here in India, we saw a spike of Bitcoin users around that time but the sudden ban imposed by the RBI made it all gone. Now that after two years the Supreme Court has overruled the decision of RBI, the Indian cryptocurrency market is slowly rising from ashes.
But the question remains, about Bitcoin legality in India if legal then does it have a framework and regulations passed by the Government?
Before we find answers to these questions, let’s look back at the beginning.

The Beginning

Started in 2009, Bitcoin first rose to global significance in the year 2017. It was the first time for bitcoin to cross the $1000 mark but it didn’t stop there.
Then came a blow from the Chinese government when the People’s Bank of China decided to tighten its grip on the cryptocurrency market. As a result, the graph went down by 30%, however, it successfully maintained its steady growth. Around May, it had jumped well over $2000.
It was December 17, the Crypto exchange recorded its highest value of all time as the Bitcoin value was standing on the number $19,783.21.
But the market subsequently came down and nowadays it roams around the $10,000 mark.

India Banned Cryptocurrency in 2018

Surprisingly when the world was facing a crypto bull market race, Indian backed down from the idea and the Reserve Bank of India imposed a de facto ban on the trading of crypto.
The RBI assessed that there were multiple risks involved in dealing with crypto and should be immediately banned to trade it. As a result, the huge market that was yet to understand its potential was dismissed.
Many people and respective associations spoke against it and the Internet & Mobile Association of India went to the Supreme Court against the RBI’s decision.
At that point, India had around 5 million cryptocurrency users, who were actively trading and using Bitcoin as a currency. But all of a sudden it all shut down, as the users were left with the option to either hold on to their Bitcoin savings or trade through the foreign.
But since Supreme Court took the matter in hand the situation began to change. Unlike RBI, SC had a wider view on the matter and asked about the reasons of the Bitcoin trade ban.
While there wasn’t any satisfactory answers from the RBI, the Supreme Court lifted the ban on the use of Cryptocurrencies like Bitcoin in 2020.
It seems like, with the ban lifted, India is currently free to deal or trade in Bitcoins without any barriers. But it isn’t that easy.

Bitcoin legality in India


[link]2

Now having covered all the backstories, let’s take a look at the main question of this article.

Can you trade bitcoins now?

The answer is- Yes. Trading or dealing with bitcoins or any other cryptocurrency like Ethereum is legal in India. You can trade, buy, and sell bitcoins from domestic or foreign exchanges and even invest in them.

Startups like WazirX, Lastbit, Zebpay, and international companies like Paxful are providing platforms to market crypto as the optional currency. CEOs of these companies are hopeful for the near future as India is counted among the five countries to have the most Bitcoin users.
But there are some problems yet unresolved.
Crypto Mining. Though the SC lifted the ban from crypto trading, crypto mining is still impossible in India. Mining is a work that requires specific technologies and a high supply of electricity. While the latter is a problem in India, the former is the bigger challenge. Because the machine to mine bitcoins, ASIC is still illegal to import.
ASIC standing for application-specific integrated circuit is the most advanced technology to mine bitcoin profitably. When the crypto was banned, importing ASIC was also banned. So, now the miners are left with nothing useful other than GPU technology to mine. While GPU was useful 10 years ago, today it simply doesn’t work.
It’s also unlikely to manufacture ASIC in India, because it only works for the purpose of crypto mining only. As long as there’s no stable market here, manufacturers wouldn’t take the risk to produce it here.
So, the conclusion on Bitcoin legality in India can be to trade crypto but not mine it. We think it’s still a fair opportunity to get the Indian crypto market a bit more stability and then the government might reconsider their stand on crypto mining.
Source - [How To Buy Bitcoin in India]1
'''
Bitcoin legality in India – Is Bitcoin Legal ?
Go1dfish undelete link
unreddit undelete link
Author: x23_shivam
1: bu*bit**inhow2*20.*o*/ 2: pre*iew.redd.it/t5bxt1*n*gl51.png?widt*=*2*0&*m*;f**mat**ng&am**auto**eb*&*s=6b***14c**e4a8b**e**75*1b7654eb3*d73699*
Unknown links are censored to prevent spreading illicit content.
submitted by removalbot to removalbot [link] [comments]

[USA SEA][H]Daredevil 1, Justice League 1 (and more), Captain Midnight 1, X23 1-21 and more [W]Paypal or Bitcoin

Back with another one of those block rockin beats. Oh crap, my time machine must have been left on. Anyway, comics...for sale. As usual, they are cross posted, and also, as usual, they are super sweet!
Daredevil #1 3.5 $1200 Yes, I know raw books sell for less than this, but I plan on submitting it next week, and when it gets back it will be worth $1500. Willing to do part trade, part cash. SOLD
Captain Midnight #1 PGX 5.0 $600 I priced this at GPA for a 3.5 because there is no way this is a 5.0. I have generally had great luck with PGX books being accurate and as described, this is probably the worst graded book I have ever seen.
Green Lantern 76 CGC 6.0 Neal Adams SS $600 This book was unfairly graded in my opinion, my plan was to get Denny Oneil to sign, press and resubmit. Its beautiful. SOLD
Archies Madhouse 22 CGC 4.0 $600 Love this book, though I might even consider trading or selling my 7.0 in the right deal (only 6 grade higher!). SOLD
Justice League 1 3.0 $600 Displays beautifully but the cover is detached. There is also a pretty significant spine split on the bottom edge. SOLD
Thor 337 CBCS 9.8 $450 1st Beta Ray Bill, very hot book. SOLD
Showcase 30 CGC 5.0 $600 1st solo Aquaman in silver age.
Aquaman 1 4.0 $400 Very nice mid grade copy with no major creasing, tearing or pieces missing. Small nick on spine.
Showcase 8 CGC 1.8 $750 Wow, 2nd Flash, 1st Captain Cold? Sweet! I would love to trade this plus other stuff on this list for a higher grade version of this, raw or slabbed.
Pics, you say? Fo so: https://imgur.com/gallery/nSwwZzG
Now, for the completists out there:
Aquaman 1-63 COMPLETE $4500 Yep, I posted this before, but now I have pics of the whole collection, AND I have upgraded some of the key issues including #1. https://imgur.com/gallery/5DbLaI0
X-23 1-21 $75 Also have some variants available as well. Micronauts 1-59, Annual 1, plus 1-10 of new voyages $150 https://imgur.com/gallery/7jv04ko Hellblazer 1-83, Annual 1, Special 1 $150 https://imgur.com/gallery/3TY8iGj Ghost Rider 1-94 plus special issues $150 https://imgur.com/gallery/8w4LlSs The #1 is a 9.8 candidate.
This week I get many of my CGC and CBCS submissions back, including 2(!) runs of NYX 1-5, one signed by Middleton, 1st Squirrel Girl, 1st Jokers Daughter, Detective 880, Wolverine Origins 10 3rd claw variant and many more.
Dont forget to check my other posts for great stuff: https://old.reddit.com/comicswap/comments/dfl1de/usa_seahwloverine_origins_phoenix_endsong_90s/
submitted by clutchheimer to comicswap [link] [comments]

Bitcoins Everywhere Spiderman Ps4 Spiderman Vs Scorpion X23 Wallpaper

Bitcoins Everywhere Spiderman Ps4 Spiderman Vs Scorpion X23 Wallpaper
Bitcoins Everywhere Spiderman Ps4 Spiderman Vs Scorpion X23 Wallpaper
What Is A Bitcoin Mixer? Bitcoin tumbling (bitcoin mixing) involves the usage of a third party service to break the connection between a bitcoin wallet address sending coins and the address receiving coins. Once that connection is broken, the individual or party who owns the coins that were mixed become anonymous and transactions near impossible to track.
submitted by bitcoinwallpaper to BitcoinWallpaper [link] [comments]

Bitcoins From Above Spiderman Ps4 Spiderman Vs Scorpion X23 Wallpaper

Bitcoins From Above Spiderman Ps4 Spiderman Vs Scorpion X23 Wallpaper
Bitcoins From Above Spiderman Ps4 Spiderman Vs Scorpion X23 Wallpaper
Am I Anonymous When Using Bitcoin? Bitcoin is not a fully anonymous cryptocurrency like some crypto coins out there, but you can still use the most valuable coin (BTC) and still be hidden from the many curious spying eyes. A service which is known as a bitcoin blender can help with obtaining the anonymity that some deeply desire. Using a service known as a bitcoin blender is the very best way to transact with bitcoin and still remain completely anonymous. If one is concerned about revealing their personal identity then a bitcoin blender service is the very best way to continue transacting bitcoin while keeping a personal identity on a private lock down.
submitted by bitcoinwallpaper3 to BitcoinWallpaper [link] [comments]

[ Bitcoin ] Bitcoin legality in India – Is Bitcoin Legal ?

[ 🔴 DELETED 🔴 ] Topic originally posted in Bitcoin by x23_shivam [link]
Bitcoin has been a heavy financial blow to the trading world since it rose to significance. The flickering uncertainty of the traditional economy, entirely controlled by the government has caused several disastrous events in the past. But Bitcoin or any other cryptocurrencies in the world are completely free from government and political influence, which don’t lose its value over a political takeover.
India has also witnessed the rise of cryptocurrencies like Bitcoin in some events. You may remember the demonetization and the aftermath of it. Here in India, we saw a spike of Bitcoin users around that time but the sudden ban imposed by the RBI made it all gone. Now that after two years the Supreme Court has overruled the decision of RBI, the Indian cryptocurrency market is slowly rising from ashes.
But the question remains, about Bitcoin legality in India if legal then does it have a framework and regulations passed by the Government?
Before we find answers to these questions, let’s look back at the beginning.

The Beginning

Started in 2009, Bitcoin first rose to global significance in the year 2017. It was the first time for bitcoin to cross the $1000 mark but it didn’t stop there.
Then came a blow from the Chinese government when the People’s Bank of China decided to tighten its grip on the cryptocurrency market. As a result, the graph went down by 30%, however, it successfully maintained its steady growth. Around May, it had jumped well over $2000.
It was December 17, the Crypto exchange recorded its highest value of all time as the Bitcoin value was standing on the number $19,783.21.
But the market subsequently came down and nowadays it roams around the $10,000 mark.

India Banned Cryptocurrency in 2018

Surprisingly when the world was facing a crypto bull market race, Indian backed down from the idea and the Reserve Bank of India imposed a de facto ban on the trading of crypto.
The RBI assessed that there were multiple risks involved in dealing with crypto and should be immediately banned to trade it. As a result, the huge market that was yet to understand its potential was dismissed.
Many people and respective associations spoke against it and the Internet & Mobile Association of India went to the Supreme Court against the RBI’s decision.
At that point, India had around 5 million cryptocurrency users, who were actively trading and using Bitcoin as a currency. But all of a sudden it all shut down, as the users were left with the option to either hold on to their Bitcoin savings or trade through the foreign.
But since Supreme Court took the matter in hand the situation began to change. Unlike RBI, SC had a wider view on the matter and asked about the reasons of the Bitcoin trade ban.
While there wasn’t any satisfactory answers from the RBI, the Supreme Court lifted the ban on the use of Cryptocurrencies like Bitcoin in 2020.
It seems like, with the ban lifted, India is currently free to deal or trade in Bitcoins without any barriers. But it isn’t that easy.

Bitcoin legality in India


https://preview.redd.it/t5bxt1cnlgl51.png?width=1200&format=png&auto=webp&s=6b4d014c65e4a8bb3e787531b7654eb37d736994

Now having covered all the backstories, let’s take a look at the main question of this article.

Can you trade bitcoins now?

The answer is- Yes. Trading or dealing with bitcoins or any other cryptocurrency like Ethereum is legal in India. You can trade, buy, and sell bitcoins from domestic or foreign exchanges and even invest in them.

Startups like WazirX, Lastbit, Zebpay, and international companies like Paxful are providing platforms to market crypto as the optional currency. CEOs of these companies are hopeful for the near future as India is counted among the five countries to have the most Bitcoin users.
But there are some problems yet unresolved.
Crypto Mining. Though the SC lifted the ban from crypto trading, crypto mining is still impossible in India. Mining is a work that requires specific technologies and a high supply of electricity. While the latter is a problem in India, the former is the bigger challenge. Because the machine to mine bitcoins, ASIC is still illegal to import.
ASIC standing for application-specific integrated circuit is the most advanced technology to mine bitcoin profitably. When the crypto was banned, importing ASIC was also banned. So, now the miners are left with nothing useful other than GPU technology to mine. While GPU was useful 10 years ago, today it simply doesn’t work.
It’s also unlikely to manufacture ASIC in India, because it only works for the purpose of crypto mining only. As long as there’s no stable market here, manufacturers wouldn’t take the risk to produce it here.
So, the conclusion on Bitcoin legality in India can be to trade crypto but not mine it. We think it’s still a fair opportunity to get the Indian crypto market a bit more stability and then the government might reconsider their stand on crypto mining.
Source - How To Buy Bitcoin in India
x23_shivam your post has been copied because one or more comments in this topic have been removed. This copy will preserve unmoderated topic. If you would like to opt-out, please send a message using [this link].
submitted by anticensor_bot to u/anticensor_bot [link] [comments]

BU/AU NORFEDs! Get them while they're hot!

I have 52 NORFED Liberty Dollars available for sale. They were all taken out of tubes and put right into air-tites. Each is in AU/BU condition. It kills me a little that I'm selling them since they are so pretty. Even my 5 month old child is fascinated with them.
These rounds have quite a history. They were created as an alternative currency to Federal Reserve Notes (the US dollar), similar to Bitcoin. The Federal government did not like this, and promptly seized (read: stole) all of the stock held by the mint, including rounds which had been purchased by valid customers but had not yet been shipped. The creator was prosecuted for counterfeiting and given 6 months house arrest and 3 years of probation. He is now free and a judge ordered in 2014 that all property be returned to its rightful owners (we'll see how long that takes...).
You can read more about the Liberty Dollar here.
You can read more about its creator here.
For information about the various rounds that were minted, consult this website.
Pics
1999 x4 - $80 $75 each 2000 Type III x25 - $38 $36 each 2003 wide-rim x23 - $35 $33 each
Shipping starts at $3 for a first class bubble mailer, and increases depending on weight. All come in air-tites as pictured.
I accept Paypal FF and GW. I will also take Bitcoin or Litecoin (an appropriate form of payment for these).
submitted by thaweatherman to Pmsforsale [link] [comments]

[H] +60 CS:GO Keys [W] Bitcoin (BTC)

x23 Chroma Keys b/o @2.1$ ea
x38 Vanilla Keys b/o @2.05 ea
Using my Dispenser Only
If you need help go here : How To use Bitcoin on Dispenser.tf
Don't need to go first or check cash rep
Feel free to post here if you need help
tf2-trader Cash Rep
Dota2Traders Cash Rep
CS:GO Cash Rep
I can restock everyday
submitted by koukoutm to GlobalOffensiveTrade [link] [comments]

[H] +60 CS:GO Keys [W] Bitcoin (BTC)

x23 Chroma Keys b/o @2.1$ ea
x38 Vanilla Keys b/o @2.05 ea
Using my Dispenser Only
If you need help go here : How To use Bitcoin on Dispenser.tf
Don't need to go first or check cash rep
Feel free to post here if you need help
tf2-trader Cash Rep
Dota2Traders Cash Rep
CS:GO Cash Rep
I can restock everyday
submitted by koukoutm to GlobalOffensiveTrade [link] [comments]

[H] +60 CS:GO Keys [W] Bitcoin (BTC)

x23 Chroma Keys b/o @2.1$ ea
x38 Vanilla Keys b/o @2.05 ea
Using my Dispenser Only
If you need help go here : How To use Bitcoin on Dispenser.tf
Don't need to go first or check cash rep
Feel free to post here if you need help
tf2-trader Cash Rep
Dota2Traders Cash Rep
CS:GO Cash Rep
I can restock everyday
submitted by koukoutm to GlobalOffensiveTrade [link] [comments]

[H] +60 CS:GO Keys [W] Bitcoin (BTC)

x23 Chroma Keys b/o @2.1$ ea
x38 Vanilla Keys b/o @2.05 ea
Using my Dispenser Only
If you need help go here : How To use Bitcoin on Dispenser.tf
Don't need to go first or check cash rep
Feel free to post here if you need help
tf2-trader Cash Rep
Dota2Traders Cash Rep
CS:GO Cash Rep
I can restock everyday
If you need other Keys (phoenix, breakout, chroma 2...) i can make on Dispenser for 2.15$ ea
submitted by koukoutm to GlobalOffensiveTrade [link] [comments]

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How to Setup a Bitcoin Wallet with Blockchain

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