T O P

After El Salvador, India may move to classify Bitcoin as an asset class

After El Salvador, India may move to classify Bitcoin as an asset class

AutoModerator

* Bitcoin [Pro Arguments](https://old.reddit.com/r/CryptoCurrency/comments/n5uc9k/pro_contest_bitcoin_proarguments/) & [Cons Arguments](https://old.reddit.com/r/CryptoCurrency/comments/n5v5os/pro_contest_bitcoin_conarguments/) - Potentially earn moons by participating in the [Pro & Con-test](https://old.reddit.com/r/CryptoCurrency/wiki/policy#wiki_pro_.26amp.3B_con-test_-_.28wip.29). * Sort comments as controversial first by [clicking here](https://www.reddit.com/r/CryptoCurrency/comments/nwkdra/after_el_salvador_india_may_move_to_classify/?sort=controversial). Doesn't work on mobile. --- *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*


Commercial-Bass-3668

BREAKING: France will be using leftover baguettes to power bitcoin mining


mirza1h

Lie, there's no such thing as leftover baguettes...


valuemodstck-123

Who would ever leave leftover baguettee?


WackyMister

You better patent that concept buddy


J_Hon_G

From volcanoes to leftover baguettes, the future is now


Im_Sam-

Lmao, You made my day buddy.


Commercial-Bass-3668

Happy to hear that mate (:


green_0live

Breaking: India harnesses cow dung for bitcoin mining


Rude-Combination3500

Lmao this is some funny shit


Think-notlikedasheep

People will eat them and fart, so they'll power it through farts.


SexualDeth5quad

Use cows for that. They are the best farters on the planet. Beef-powered crypto mines kills two birds with one stone, and you eat the beef afterwards.


Think-notlikedasheep

Fart Power - sustainable, renewable energy :)


Roy1984

I read somewhere that cow poo will be used for mining BTC


Scribble2thefloor

It currently is in the UK - anaerobic digestion of cow manure creates flammable gases which power turbines and generate electricity to mine BTC.


bryntrollian

Methane converted into a renewable energy source


Fru1tsPunchSamurai_G

India learning from their past mistakes with the internet


cultr4

Lmao yea, I read an article of how they were planning to ban internet at first


diggipiggi

Even if India classify bitcoin as an asset it would be regulated by SEBI which btw also regulates the stock market in India.


opolip

What's SEBI?


diggipiggi

It's like the SEC of India.


abjosh

But shittier, if that's possible.


valuemodstck-123

I doubt it. How could anything be worse than the SEC?


thisubmad

how is it shittier?


ArjunReddyDeshmukh

So Ambani will own most bitcoin in future.


A_Dougie

Yah I was trying to figure out how this is good news. I guess there might not be the same requirements as equities for accreditation, but it would still give the government control over them.


itsaworry

Its classed as asset in UK , but govt do not control it , is privately owned , gains over certain amount taxed by capital Gains Tax.


notaselfdrivingcar

"may"


Rude-Combination3500

Probably in May


nicoznico

Late May is a synonym for November in India.


alfred_27

Crypto space is growing quite fast in India actually. Just one or two years ago people never really wanted to touch this, now I have friends who I know for certain who are not the investing type try out crypto and have some decent holdings. With the increasing young population here and the complete lack of faith in banking system and the opportunity to get returns not seen in any other system, I hope that Blockchain tech gets implemented at a gross root level. Just hope the government doesn't fuck things up as usual


valuemodstck-123

I would say they are already doing that. I at least hope they use lube.


fitbhai

Also India next; We'll be using Tandoors to mine bitcoin when they are idling


centuriongol

Actually that sounds like a nice idea. Anybody want to join my startup?


Rude-Combination3500

Tandoori Bitcoin has a ring to it


valuemodstck-123

Nice concept!


fitbhai

If you promise to give out a whole tandoori chicken as block rewards , sure


Rude-Combination3500

Also Bitcoin Naan


Acceptable_Novel8200

Dont get your expectations high,that might take atleast 2 years to decide.


MrDopple68

For me 2024/2025 are going to be huge years for bitcoin. 1. More adoption by retail. 2. More adoption by countries. 3. More adoptors by institutions via upcoming ETFs. 4. The Halving. More demand. Less supply. You do the math. Hold for 3 to 4 years and keep accumulating on drops from FUD and you will be rich.


andrewelick

>The Halving. You thought this last one was fun, wait till you see this!


valuemodstck-123

Can't wait!


JosephMcWhey

2 is like 10 in crypto years


qk98249824

holy fuck, like i've aged so hard since 2019


Canada_Coins

Oh how the tables have turned. It was just a few months ago that India was trying to ban BTC.


CardiologistSouth822

The tables can turn tomorrow again, can't trust these people.


comeonsexmachine

These people being the whole country, or the government?


CardiologistSouth822

The government, the ordinary people are really powerless here. Can't anything about potholes in road, forget making policies.


enri2

i wonder how much of an effect vitalik donation has in crypto adoption


ejdunia

A lot I presume. Vitalik is an absolute Chad and consistently proves so with his donations to humanity. Sad to say of some other billionaires *coughs Elon


ahmong

Schrodinger's India


SilverHoard

Christ how many times does India have to flip flop on crypto's? It's hard to imagine how a country with such wildly opposing views even functions.


vaginalfungalinfect

Thing is. India is a federation.


valuemodstck-123

Never knew that.


HacksawJimDGN

India is looking to digitalise their ports and is looking at blockchain technology for document transfer.


itsaworry

India is good with IT , in 2007 i was getting faster internet connection in beach shack on Goa beach , than i was getting back home in UK.


EM0618

Is El Salvador the hero that we need? I hope it reall comes into fruition


valuemodstck-123

It would be great.


unc4l1n

They will, then they'll get pressured to reverse, then they'll realise it should be, then they'll reverse again. At some point, history will simply pass them by and crypo will have won.


NewStarPT

Okey, that escalated quickly, from El Salvador to India… let’s hope Edit:Wonder why would this be downvoted


primoboi

More bullish news!


IHateElon

El Salvador leading the pack. who wouldve thought


valuemodstck-123

Do you really hate Elon?


IHateElon

i hate him in a purely crypto sense because he toys with the market and promotes useless coins like doge. but apart from that i like what hes doing for the world


Accomplished-Design7

This sparks joy


save-Gamestop

In Wikipedia Bitcoin is mentioned as El Salvador currency (´⊙ω⊙`)!


Rude-Combination3500

( ✧Д✧) YES!!


Rude-Combination3500

Those are laser eyes


OneZeroEight

Lol I don’t trust anything that India says in regards to crypto


itsaworry

No , but trust that Govt will want to make profit from taxes . . . . i heard India finance really sat up and took notice when Coinbase got listed on the Nasdaq , this they understand , here they see taxation and profit .


TheHillsHavePis

1/6th of the world population will have a use for a currency if this happens. Absolutely massive


[deleted]

[удалено]


AutoModerator

Your comment was removed because it contains a link to Telegram or Discord. Please adjust your post and resubmit *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*


Wise_Recover9576

But my friend at work told me XRP Will be the world currency🤣


Giwaov

This is just the beginning.... Can't believe I'm witnessing this mass adoption. I wish I held and kept buying since 1k


Shadyape9

Went fom trying to ban it to accepting it's existence


lordchickenburger

Damn the wave of good news recently is such a positive mood booster


red_dildo_queen

> India may move to classify Bitcoin as an asset class or they may decide to ban it again...


Che74

[N](https://www.reuters.com/article/uk-india-cryptocurrency-ban-idUSKBN2B60QP)o news here just conjecture. India has not been friendly to crypto, why the F would they suddenly say BTC is ok? This article still has relevance: https://www.reuters.com/article/uk-india-cryptocurrency-ban-idUSKBN2B60QP


Pickinanameainteasy

Keep em coming. But why stop at bitcoin?


buttcoin_lol

5 minutes later, they will ban bitcoin again. And 5 minutes after *that*, India will declare themselves a bitcoin and crypto haven with tax incentives, only to ban bitcoin five minutes later.


WaterrDoze

Isn’t this the same country that banned crypto a month ago?


[deleted]

[удалено]


AutoModerator

Your comment was removed because it contains a link to Telegram or Discord. Please adjust your post and resubmit *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/CryptoCurrency) if you have any questions or concerns.*


pranetaverma

This will take a while. Our govt takes years