Jun 15 2017, 07:25 AM
QUOTE(kmarc @ Jun 15 2017, 06:58 AM)
Wei, 2:15am not sleeping aaaa?
BTC at 2280. Too late for me to do anything. Will just have to ride this one out.
The news posted by Wootz doesn't look good though.
I have always believed that bitcoin will be regulated. It was inevitable. For countries to accept bitcoin "as is" is like saying they condone criminal/illegal usage of bitcoins. That's the reason I think India will probably accept bitcoin but in a regulated manner.
According to the link you posted, the bill will require travellers entering the country to declare all their cryptocurrency holdings :
Lol, again, I have no problems declaring my holdings but I can't imagine myself declaring my 53 cyptos on entering.....
Immigration : Do you hold any cryptocurrencies?
Me : Yes, I have some
Immigration : You need to declare everthing
Me : Everything? But but I have over 50 types of cryptos..... I need to declare ALL?
Immigration : (Looking incredulous) 50? (He's thinking this Malaysian guy is crazy) Yes, everything.
Me : (Whips out my tablet and open "Poloniex" website). Here sir, these are my coins on Polo. (Open all the addresses storing my coins on hardwarewallet) These are those I store on my hardware wallet.
Immigration : Hardware wallet? Can I have a look?
Me : I didn't bring them
Immigration : Them? How many do you have?
Me : I have lots. It is a requirement to bring? I already showed you all my holdings
Immigration : Not sure. Let me check with my superior. (makes a phone call.... 10 minutes on the line as the supervisor has to call his supervisor who had to call his boss). Ok, my boss's boss say no need. Are you sure this is all you have?
Me : Errrmmm... (not sure, because joined a few crowdsale the day before) Yes, this is all I have. Can I go?
Immigration : Ok, you can go.
Do remember if didn't declare all your cryptocurrencies, you can be charged under cryptocurrency law and (let out a mouthful of regulations).
Me : Yes, I understand (numbed). Can I go?
Immigration : Yes, have a good day and oh, by the way, I also do trade cryptos too. What do you think of MONERO?
This is hilarious BTC at 2280. Too late for me to do anything. Will just have to ride this one out.
The news posted by Wootz doesn't look good though.
I have always believed that bitcoin will be regulated. It was inevitable. For countries to accept bitcoin "as is" is like saying they condone criminal/illegal usage of bitcoins. That's the reason I think India will probably accept bitcoin but in a regulated manner.
According to the link you posted, the bill will require travellers entering the country to declare all their cryptocurrency holdings :
Lol, again, I have no problems declaring my holdings but I can't imagine myself declaring my 53 cyptos on entering.....
Immigration : Do you hold any cryptocurrencies?
Me : Yes, I have some
Immigration : You need to declare everthing
Me : Everything? But but I have over 50 types of cryptos..... I need to declare ALL?
Immigration : (Looking incredulous) 50? (He's thinking this Malaysian guy is crazy) Yes, everything.
Me : (Whips out my tablet and open "Poloniex" website). Here sir, these are my coins on Polo. (Open all the addresses storing my coins on hardwarewallet) These are those I store on my hardware wallet.
Immigration : Hardware wallet? Can I have a look?
Me : I didn't bring them
Immigration : Them? How many do you have?
Me : I have lots. It is a requirement to bring? I already showed you all my holdings
Immigration : Not sure. Let me check with my superior. (makes a phone call.... 10 minutes on the line as the supervisor has to call his supervisor who had to call his boss). Ok, my boss's boss say no need. Are you sure this is all you have?
Me : Errrmmm... (not sure, because joined a few crowdsale the day before) Yes, this is all I have. Can I go?
Immigration : Ok, you can go.
Do remember if didn't declare all your cryptocurrencies, you can be charged under cryptocurrency law and (let out a mouthful of regulations).Me : Yes, I understand (numbed). Can I go?
Immigration : Yes, have a good day and oh, by the way, I also do trade cryptos too. What do you think of MONERO?
I'm sure they'll find an easier way to access everything we own. Maybe one day all accounts will be tied in to biometrics.
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