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RE: How you can buy/sell steem/steem dollars for fiat currency direclty in steemit and escape exchange fees | A simple Idea
I am looking into bringing BTC/ALT coin ATM to cities around India. Maybe we can keep in touch in the future brother. I would like advice from locals. I have family in certain areas however my aim is to spread it out all over India. I am looking for any other ideas, what else do Indians need to make Crypt0 life easier?
That's gonna be great bro. I will write to you tomorrow in details regarding the current situation in India and would love to provide any information if you need do let me know I'll try n find out if possible. Right now it's 4am here n i need to grab some sleep. Good night.
No worries brother this sounds good, have good sleep. Goodnight.
Good morning, So I was talking about the current situation in India. Recently i came across a post by @kingscrown he watched some old YT vids in Hindi with misleading titles and came to the conclusion that BTC is legal in India. But the truth is it's not yet. Due to the Wannacry Ransomware cyber attack that affected a lot of systems in India the govt. is confused about BTC and keep thinking that it's evil since the ransom was demanded in BTC.
The govt wanted to term it illegal but due to some appeals may be by some investors n exchanges they decided to ask for public opinion and in a govt site verified comments were invited regarding the point of view of public till 31st May whether BTC to be legalized or banned . And After that poll still now there is no decision made. Thus it's still not confirmed whether the use of BTC in India is legal or illegal. I know no govt has the power to ban BTC but in case you want to set up a BTC/alt coin ATM then hold on. Don't put any money before the final verdict since if BTC is not allowed to be used in India then the ATM will be of no use. Recently the govt has demonitized Rs 500 n 1000 notes which created a lot of turbulence in the system and this govt is very strict so you don't wanna take any risk until they confirm the legalisation.
Where are you from?? since you said you have your family is in some part of India. If you are an Indian then you'll probably know all these.
India is a huge country so you need to plan where you want to set up the ATM and for that some deep scrutiny is required depending on the growth of the cities. I think 2 to 3 cities are eligible for setting up an ATM because different cities have a different culture and the school thought will also influence the amt of business. In my recommended list will be Bangalore and Mumbai.
Anyway this is just my point of view I am not an expert. Let me know if I cn help you in anyway in future. Thanks brother.
Thank you for the information. I am an American however my family is from Punjab originally. I plan on starting in that area and expanding from there. I will try and provide people with access to tools so they can exchange their BTC/STEEM and other coins for cash. - we may end up having to pay off local authorities to get things moving. I know how things work out there as I am sure you do as well as far as bribes go. The people of India have every right to use crypt0. They should not need the governments permission and control over their money is how I see it. This is all still an idea of mine. I am not sure how it will be executed exactly just yet. All I know for sure is I want to free as many people there as possible from the current system. Whatever I can do to spread STEEM/Crypt0 awareness there and facilitate this movement.
Yes I know about how the system works here with bribes. And I believe you are right the first step is to get people introduced to the crypto first then you can free them. Spreading the word and making people understand the prospects is a mammoth task since people are not that tech savvy here. But everything has a starting point so this idea can bear the fruits in the log run with much higher returns if executed properly.