Qu'est-ce que Bitcoin et est-il légal en Inde?

Abrar Memon

Abrar Memon, Motto : Tell me i can't and then i will.

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Bitcoin :

Qu'est-ce que Bitcoin et est-il légal en Inde?

Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle men – meaning, no banks! There are no transaction fees and no need to give your real name. More merchants are beginning to accept them: You can buy webhosting services, pizza or even manicures.

Bitcoins can be used to buy merchandise anonymously. In addition, international payments are easy and cheap because bitcoins are not tied to any country or subject to regulation. Small businesses may like them because there are no credit card fees. Some people just buy bitcoins as an investment, hoping that they’ll go up in value.

BITCOINS ARE LEGAL IN INDIA,

Bitcoins are not illegal in India. Nishith Desai Associates is a leading law firm in the country. They have announced multiple times that Bitcoins are legal under all existing laws in India.

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Abhijeet Karmakar

Abhijeet Karmakar, BE Engineering, Marwadi Education Foundation, Rajkot (2019)

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Réponse d'origine: What is Bitcoin? Is it legal to transact in India?

What is Bitcoin? And its History?

Bitcoin is worldwide currency and Digital payment system which is taking the economy and the market by storm. Bitcoin was first introduced in the year 2009 by the anonymous programmer or say group of anonymous programmer under the name Satoshi Nakamoto. The value of Bitcoin at that time was merely 0.07$ in the very first year of it’s existence. Bitcoin has seen surged value of over 300% and now the value of 1 Bitcoin in current market is well over 4250 $ (in August it was more than 4600 $/ 1 BTC).

Current price: 4250$ = 276275.34 INR

Is it Legal to transact in India?

Economic giant countries such as Japan, Russia even the lesser economic stable countries or say third world countries such as Nicaragua are regulating Bitcoin in their country. Whereas the rising superpower country as India is yet to regulate it in country. Yeah, it is totally Legal to transact Bitcoin in India.

In India, you can transact Bitcoin from Zebpay Exchange http://Zebpay.com Zebpay is having their Android as well as iOS application on Google and Apple Play Store respectively. You can link up your bank account to the app after giving your required credentials. You can buy as well sell Bitcoin from here.

Future of Crypto-currency in India?

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India Government is in talks with the Reserve Bank of India(RBI) over introducing the cryptocurrency which will be introduced and will be under the hat of Reserve Bank of India(RBI). Government of India may introduce the country’s pioneering cryptocurrency under the name ‘Lakshmi’.

Manish Malhotra

Manish Malhotra, Consultant et investisseur à long terme chez Self-Employment (2016-present)

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Qu'est-ce que Bitcoin : Bitcoin is decentralised , limited in supply , peer to peer digitally created internet money which is gaining popularity by the hour. It's is becoming a worldwide acceptable transfer and exchange of value.

Legal or not : Even if 20 countries in the world legalise bitcoin, everyone in the world will have/find a way to transact in it. Right now more than 30 countries have made bitcoin legal and another 50 are considering seriously to use it. That's why it is gaining adoption at high pace.

Biggest and most developed Countries like US, UK,Australia, Hongkong, Germany, Singapore, Canada, Japan,

Drugs, Porn and gambling is illegal and banned in 98% countries, still the world finds a way to use it.

I am not comparing those with Bitcoin , this is just an analogy. Bitcoin is the digital currency and has potential to become store of value or reserve currency.

Bitcoin is not a social networking site like Facebook or twitter which a country can ban and neither it is created by any govt or bank who can regulate it completely. They can at best make certain regulations around it.

Gurwinder Jeet

Gurwinder Jeet, Consultant informatique et blogueur

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Qu'est-ce que Bitcoin?

Qu'est-ce que Bitcoin et est-il légal en Inde?

Bitcoin is defined as virtual coin which stores its money on its own without any central authority. It is basically a form of decentralized crypto-monnaie or so-called monnaie numérique who has no single administrator. Bitcoin was invented by Satoshi Nakamoto in 2009.

Bitcoin is derived from the term Bit and coin meaning shorter coin. The Transactions take place after getting verified by network nodes. The transactions are recorded in the form of the blockchain. As there is no intermediary, so the transactions take place directly between clients.

Starting in 2009 with $1 price Bitcoin has risen to 16461.17 US Dollar today in 2017. After Bitcoin, many cryptocurrencies came into existence but are named as Altcoin. Some of the Altcoins are unicoin, etherenum, Litecoin, Monero, Zcash et ainsi de suite

It is now accepted in United States, Canada, Japan, Israel, Singapore, France, Netherlands, Italy, Switzerland, UK, Cyprus, and Belguim.

India has not started accepting any digital currency, But looking at the frequent rise and acceptance by most developed countries, we can say Bitcoin will go long.

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Pronab Sarkar

Pronab Sarkar, Diploma in Elementary Ed. Gadgets & Sports, Dhupguri PTTI

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Réponse d'origine: What is Bitcoin? Is it legal to transact in India?

Que sont les Bitcoins?

Bitcoins are electronic currency, otherwise known as 'cryptocurrency'. Bitcoins are a form of digital public money that is created by painstaking mathematical computations and policed by millions of computer users called 'miners'.

Bitcoins are, in essence, electricity converted into long strings of code that have money value.

Pourquoi les Bitcoins sont si controversés

Various reasons have converged to make

Qu'est-ce que Bitcoin et est-il légal en Inde?

Bitcoin currency a real media sensation.

From 2011-2013, criminal traders made bitcoins famous by buying them in batches of millions of dollars so they could move money outside of the eyes of law enforcement. Subsequently, the value of bitcoins skyrocketed.

Ultimately, though, bitcoins are highly controversial because they take the power of making money away from central federal banks, and give it to the general public. Bitcoin accounts cannot be frozen or examined by tax men, and middleman banks are completely unnecessary for bitcoins to move. Law enforcement and bankers see bitcoins as 'gold nuggets in the wild wild west', beyond the control of traditional police and financial institutions.

How Bitcoins Work

Bitcoins are completely virtual coins designed to be 'self-contained' for their value, with no need for banks to move and store the money.

Once you own bitcoins, they behave like physical gold coins: they possess value and trade just as if they were nuggets of gold in your pocket. You can use your bitcoins to purchase goods and services online, or you can tuck them away and hope that their value increases over the years.

Bitcoins are traded from one personal 'wallet' to another.

Kate Gilles

Kate Gilles

Répondu il y a 46w

He tweeted a chart tracking cryptocurrency trades that show India accounted for 16,754.76 coins by trade volume. It has also been ranked fourth on the Bitcoin cryptocurrency trading market.

Vidéos: Crypto TV

Over the past few years, despite the lack of regulations in the Indian digital currency industry, a few Bitcoin exchanges have sprung up and started operating with self-regulated trading platforms with strict Know Your Customer (KYC) and anti-money laundering systems in place. These include startups like Zebpay, Coinsecure and Unocoin.

These startups have also raised funding from investors and have slowly been building faith in the Bitcoin and digital currency sector despite skepticism from the government.

However, in the backdrop of the growing use of Bitcoins post demonetisation and the stringent self-regulations being followed by Bitcoin exchanges, it seems the government has taken note of the fact that it cant shy away from virtual currencies anymore. Especially when regulators elsewhere are adopting proactive measures.

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The first impact of the legalisation of Bitcoin in India is expected to further increase trading volumes and Bitcoin activities in India by significant margins. Legalisation would also allow Bitcoin startups to address concerns over security and risks pertaining to the use of Bitcoin and eventually work towards improving its infrastructure.

Legalising would also help remove apprehensions around its reliability as a currency for the average Indian consumer. On the other hand there have been reports of Bitcoin trading amounting to money-laundering and that it propagates the financing of terrorist outfits.

And one of them is increasing trust in private money over stable currencies. Sanjay Mehta, an investor in Altcoins, alternative cryptocurrencies launched after the success of Bitcoin says,

With the government legalising it, Bitcoin service providers will also be able to expand the scope of usage. Currently, Bitcoins are used to make purchases through mobile apps, buy gift vouchers, for airtime top up, and for paying bills. But in the future, an improved infrastructure would help support remittances to India and also provide online financial solutions for the countrys unbanked and underserved population.

The guess is that the apprehensions of Indian Bitcoin traders will hopefully be taken care of in the next month if indeed the government and RBI legalise it, thus enabling many Indians to legally partake and reap benefits from the global phenomena of Bitcoins and the underlying technology of BlockChain.

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