What will be the Future of Bitcoin and cryptocurrency in India
Worlds largest democratic country is not so democratic in terms of Bitcoin and cryptocurrency. RBI has warned three times till date not to trade. Warning basically revolves around , risk , regulation, loss of money, etc.
According to RBI trading in bitcoin and virtual currencies are risky. As per RBI since bitcoin has no any central control neither do have any authorize exchanges in India. So trading in these currency is totally risky and loss of money can’t be claimed either.
Union Finance minister of India Mr. Arun Jaitely has given a statement in last week of December 2017 that the bitcoin is not a legal tender.
Although in The starting month of 2017 a committee was formed to investigate on cryptocurrency. It said that
Future of Bitcoin in India 2018 , amid surgical strike on cryptocurrency
All countries around the globe are in a hurry to take a concrete step on the cryptocurrency market. Major countries like USA, UK, Germany, Japan are already in the process of the same. In USA trading in Bitcoin has already come under the scanner of law. UK has repealed the tax on bitcoin trading. It is charging flat 20% of tax on bitcoin and other cryptocurrency mining.
In GERMANY no VAT on cryptocurrency transactions. In japan Bitcoin is considered a commodity . Besides it removed consumption tax of 8% on 1st July 2017.
future of bitcoin and cryptocurrency in India is on edge.
Bitcoin future price in india
Bitcoin’s price prediction is not too hard . similarly its not too easy also. main reason behind it is that since inception till date the world countries have not yet understand it in actual. There is a lot of bad theories regarding this. Now the point is if the countries will start giving it a status of currency then the price will rise in the sky. If they will not accept this as a currency then the price will rise very slowly and at some point it will collapse because there will be no relevance of this coin.
current scenario of these coins can’t be said good. Most of the developed countries are taking it serious threat to the actual fiat currency. Some countries like India have made a stand to wait and watch.
As per experts the price may go to million dollar in no time, but no body can actually say when that time will come . If its really going to happen ever then the bitcoin price will be in lakhs.
What people thinks on bitcoin and cryptocurrency
Blockchain technology will always be remembered in the human History. This technology has changed the thought of currency. Due to this technology Bitcoin and almost thousands of cryptocurrency born. These coins changed the world Perception on money.
The humanity saw the entirely new thing. Blockchain is the invention than Bitcoin is the revolution. This revolution made people curious and curiosity of anything is the invention of idea. Thus a new era of trading begun. Its totally a technological based currency, its virtual and based on without any regulation and decentralized.
Tech savvy people dumped their hard earnings into trading and earned a lot, some became billionaire too. This huge profit making technology made people crazy. The height of craziness reached to a new level that they just put the money on any coin listed on the exchange.
People are so optimistic that they are in blind love with the bitcoin and cryptocurrency.
what is Blockchain ?
what is Bitcoin ?
Related points and their answer in above article….