Bitcoin Forum

Following many smaller countries that have recently banned Bitcoin, we are now into the end game.

India is banning Bitcoin : https://economictimes.indiatimes.com/markets/stocks/news/war-on-bitcoin-govt-panel-seeks-crackdown-on-crypto-currency-dealers-in-india/articleshow/61450361.cms

Russia is banning Bitcoin : https://www.cnbc.com/2017/10/10/russian-central-bank-plans-to-ban-websites-that-offer-bitcoins.html

It's no surprise governments wanna ban BTC, but BTC is unstoppable so far as people like it. If Russia ban websites retailing BTC, people will use tor browsers or find other ways of retailing it.

Upon reading the news India is planning to regulate crypto and not actually banning bitcoin. Their headline is misleading.

The Russia new is actually scarier since they are not banning the actual bitcoin but they are planning to ban the websites that offer bitcoin.

It left more question, will they ban mining as well?
How about trading websites?

We may also see this happen with other countries in the following years.

may be sum day russia and indian government remove band from bitcoin. many indian and russian are earn bitcoin. many people trust and purchase bitcoin. bitcoin is top crypto currency in world. many new russian and indian people join bitcoin talk.

They block sites related to bitcoin and gambling since some years ago, it is nothing really new. People could still use VPN or tor to access them. Also India is going after the exchanges, if the piece of news is reliable, but won't ban bitcoin itself and there is no way to know if they will regulate it in the future.

Its a surprise to me for Russia banning bitcoins if its true because Russia was hosting miners of china and Korea. How come they even think of banning bitcoins then?
For India I cant say much but still banning it completely is a strange thing.

The previous and current Indian government has failed miserably to provide jobs and basic necessities to its citizens. So if they ban bitcoin a lot of young people will loose the opportunity to live a decent life and will be out looking for a job. It will further worsen the pathetic job scenario of India. Few years back, they tried to ban porn but faced a lot of heat from the community and finally revoked it. I hope they will face the similar kind of opposition if they try to ban bitcoin. "Aur nehi darkar, logo ko chutiya banane wala sarkar".

I am not too worried about this, because people will just find ways to bypass these bans, if it happens. Look at China for instance, they clamped down on exchanges and the Chinese people just found other ways to trade with bitcoins. You can still move all your coins to another country or buy stuff from the internet in other countries.

You can also trade in person, if you find someone that has contacts with relatives that stays in other countries, where Bitcoin is legal.  ;)

I agree with your opinion, even though they block sites related to bitcoin. Bitcoin users can still access and even transact through VPN network applications and there are still many network applications that can be used to open banned sites, what they expect from banning bitcoin and even bitcoin-related sites.

The more forbid the more people will want it. Government doesn't understand  the power of bitcoin and it is afraid of it.
To regulate it is necessary and not to forbid.

I don't understand why they are going to ban Bitcoin, in fact, they are trying to introduce the new cryptocurrency similar to Bitcoin
http://www.business-standard.com/article/economy-policy/govt-considering-its-own-cryptocurrency-117091600051_1.html

news like poped many times in the past , so don't panic till it actually happens cause there is nothing normal people can do
I'm kinda optimistic this won't happen , cause if they are planning to do that they would had done it a couple of years ago
there is no perfect way to ban crypto , so governments won't do untill they are sure that they can handle such a ban

After the Ban of China so many countries decided to ban the BTC.

There is a difference between regulation and banning

I can not believe this, most likely this is not accurate information ..

In the whole article they talked about problem with dealing with cash and.. buying and selling of bitcoins that causes illegal activities.
Well it would be a very serious draw back if something like this happened.
But I do think on local exchange sites or international exchange sites you can still come forward to sell bitcoins :)
I mean you can easily transfer all your bitcoins in an international recognized Trustable wallet and sell according to you feel right.
They cannot ban one to one exchanges can they ?
Well I do think that if something like this happened people will come forward to find a solution and still stick with bitcoins.

So slow... News are marked with date 10 OCT.
Every Country just want to regulate money, it`s not necessary to ban it. But how can you regulate money movements when people use Monero, etc?

 Perhaps it's about taking control of the market crypto currency.

This is old news. Russian government does not want to ban bitcoin, they would like to regulate, license and tax (this seems to be the ultimate goal) exchanges and miners. And, AFAIR, it was just an opinion of a government official, not a legislative proposal.

Yes, each of the government wants its national currency to regulate properly but due to the cryptocurrency it is hard to keep  track on each of the penny.

Most of the people's from India and Russia have started investing huge amounts in bitcoins and even the taxes are bypassed by storing their capital in bitcoins as bitcoins are a anonymous currency and are completely decentralized.

Each government wants its country to use the centralized currencies so that they can be applied with taxes for the betterment of the country but bitcoins here do completely opposite work. Perhaps implementing taxes on bitcoins will completely legalize bitcoins but will reduce the profits.

Sorry to say that none of them make bitcoin banned because last week Indian court order to regulate bitcoin because they need bitcoin still in many part of India there is poverty and we know how bitcoin is efficient for them because bitcoin is playing a very big role in economy of many countries and it reduce unemployment from many countries so I think bitcoin is now need of every one and that’s why day by day countries are going to accept bitcoin.

It look as if the more some country try to ban bitcoin the more bitcoin is attracting more investors which directly leading to the rise in price of bitcoin.

It is not highly possible to suddenly ban bitcoins as bitcoins has now acquired a huge space in each learning platforms and most of the individuals have started their business in bitcoins. Government cannot suddenly ban bitcoins and even if the government tries to shut down all the major dealers in the cryptos, some will surely resist it as they might be holding some good amount of bitcoins and no one can have major loss for nothing.

Previously the same news were held but no output was sawn and the same is been predicted now. Bitcoins have a huge obstacles to compete with and even with the increasing price, the risk is nearly vanishing about bitcoins to be banned.

Not only India and Russia ban bitcoin but also many countries in Asia. The governments of those countries want to completely control the market and ban everything can affect their power and the benefit of their banks. However, i think bitcoin is unstoppable, still many people find the way to earning money from bitcoin, develop bitcoin world and introduce bitcoin advantages to other people. Nobody or government can hold the citizen.

This is still only in news, there are no reports of solid steps taken for the ban of cryptocurrency. I had logged in my account in Koinex and it is still operative.
Before banning these crypto currencies, government have to consider investments done by the people in them. How would they dissolve the investment amount and in what way they will be returning of the investment amount?

I didn't even here the news about the ban...I heard that Russia is thinking about the construction of the bitcoin city - a city specializing in the mining of cryptocurrencies can be built in Siberia or the Far East...so it seems they are doing well with it)

Russia was kinda of expected but India should be more open with it.

In Russia there is no obvious prohibition of cryptocurrencies at the legislative level. Some the websites adjacent to a subject of cryptocurrencies are blocked because of availability of other forbidden information: terrorism, schemes of leaving from payment of taxes, etc. But widely the topic of bitcoin isn't covered in local media. Nevertheless, the conferences and forums devoted to cryptocurrencies and ICO are regularly held. Generally the population is scooped by topical news from the Internet.

This is a big news, because India and Russia are two big countries in the world, if this is true then it will affect bitcoin prices in the near future.

India accepting the bitcoin,because india is biggest country and many people earning the bitcoins.i don't know about the russia.

It`s not a surprise that some governments wish to ban BTC, but they can`t entirely forbid people to use it some way. News about India and Russia are circulating on this forum for months. Big countries with big markets with a lot of people involved needs to be regulated somehow, and they are doing something on that field. I think news are exaggerate everything about them, one month they will legalize it, other they will ban it. I think we don`t need to pay a lot of attention on what are they doing, if you are living in one of this countries and you wish to protect yourself and you bitcoins use some bitcoin mixer and hide your coins. Its better to be safe then sorry if anythings happen.

Lets see what is their reason on banning it. I guess that they want to regulate it and take for themselves.If poor become rich it would give the most damage on these countries.

lately many country refuse bitcoin, like china but fact Bitcoin still going up and more strong

many country will make own cryptocurrency like BTC thats why they have self interest i think.

Those are just rumors and there is no real statement to back these articles. I dont think any country can officially ban bitcoin or other cryptocurrencies. But they may hurt the value by demoralizing the investors.

Its really hard ban cryptocurrency, maybe governments should banned before 300 bln market cap. Kinda too late, they slept a bit.

Anything is not yet confirmed, for Vladimir Putin's statements are contradicting each other, as one day he is in favor of bitcoin and the other day he is in favor of Russian currency and how he wants Russian crypto to destroy bitcoin. 
Talking about India ,well the government doesn't have much problem with bitcoin, they are just not happy with the fraudulent activities that some people in India are trying to do by fooling them. So they are taking necessary actions against it.

The ban is the out come of the committee set up by the government to advice her on the issue of cryptocurrency. The government will now study the report and know whether it will be implemented or not. We are waiting.

Well, maybe you'll ask why? Because in russia people don't need bitcoin for money laundering, are you ok with goverment? Launder money, you need to be big "player". Hope you all understand what I mean. Russia isn't USA, UK or etc. So with banning bitcoin, everyone won't be able to launder money or etc but still no idea, they are so great in this tasks, it won't affect anything, imagine there are so much and so big torrent websites in Russia. So I guess not a perfect attemp, just "official" note.

Times without number there have been news about banning here and there but unfortunately for them and fortunately for bitcoin, the effect is always ephemeral only for bitcoin to bounce back and become more solid in price more than the initial price it was before the purported ban in the first place.

What I see here is government trying to discourage to a large extent the people coming into bitcoin pending the time they were able to find a way to control bitcoin because they themselves know they cannot do anything about it at this moment only if they want to continue in deceiving themselves.

I doubt that Russia will do so, since there are some huge investments in mining. Investments done by high profile people.

Why refer to the news of 10 October? Russia several times changed his mind, now they are not against. What about India, I don't know.. don't interesting..

Nowadays we start monitoring so many negative news about bitcoin. Will those make the bitcoin stoppable I am not sure but at least help to push the price level down.

Hello I am totally agree with you it's. Its unstoppable phenomenon and people are addicted from money so it human nature will hack every border to having pleasure no matter about what we are talking it no  matter about bitcoin or another pleasure)

not surprising given that no government controls bitcoin.

Regarding Russia, it seems that they are changing their mind often, we have seen the communications minister of Russia saying that crypto currencies will never be legalized, but sources saying that until July 2018 regulations regarding crypto will be in place.
And now they seem to have CryptoRuble in plans for official crypto currency.

Well I am from India and let me make it very clear that bitcoin isn't illegal in India. Indian govt. is still trying to propose any concrete law over bitcoins but hasn't been able to come up with any such legal provision in this behalf. This article was just about a news where in the supreme court of India has asked the government to draft law regarding it as soon as possible nothing more than that.

I just want to warn readers to be careful with this forum member "freightjoe" (the one who opened this topic). Freightjoe has only posted negative posts about bitcoins since he registered. All his posts are against bitcoin, and all he does is propagate FUD. So be careful about his topics and posts.

Even if governments ban bitcoin, no one will be able to prohibit people from mining BTC on their computers,
or to use them in their life. This is simply unrealistic in information digital age. In any case, time will show that the best option is to legalize bitcoin.

government may say that they are banning btc but they cannot actually ban it..its up to a group or institution if they will accept btc or not..if they do..government cannot do anything..especially in the electronic world..

China was going to ban the ICO and not bitcoins. Also for now, china is not banning ICO and even banning bitcoins is not that easy. Banning bitcoins will cause a lot of disturbance globally which will highly affect the price of bitcoins. Bitcoins are made much more profitable but such news about banning bitcoins, make bitcoins go cheaper. Mostly these news are not trustworthy and can be simply ignored unlesss we have some official news. Until that we can continue having good profits in bitcoins.

Seriously? Maybe they are just scared of what can Bitcoin affect their own currency and economy. Yet, i still believe that bitcoin would be impossible to stop because of how wide the internet is. i'm hoping it wouldn't be banned in my country.

This is still rumors, I have not seen any reliable sources about this news. It also does not have because both countries ban the currency but I will wait to see the news of the next days, hence we will see if this today will confirm or was just a lie.

I'm from Russia. And I see no obstacles to earn bitcoin. And next year the bitcoin in Russia will be legalized.

i think banning bitcoins in some countries didn't really affect to market volume and price of Bitcoins itself. Because, basically the volatile bitcoins price is dependent on supply - demand. More demand will affect in rising price, while less demand but supply (from the exchange of bitcoins to cash or altcoins) increasing, will happen price bitcoins fall. Nothing more.

These articles report about the two governments contemplating the idea of blocking existing websites that provide direct access to Bitcoin. The plan to really ban a financial instrument with such a huge market capitalization is not obvious.
By the way, is it realistic? Although there is nothing that can stop a government or central bank from banning Bitcoin (& a few have already done so), most would not go that far for two reasons:
- The Streisand effect
- A ban on Bitcoin is difficult to enforce.
You can read more here: http://btcexchangemarkets.com/can-any-government-ban-bitcoin

let forbid-people will find how to bypass prohibitions, and change coins to the unchallenged currency of the state

Russia changes her mind time to time and do it oppositely :)

That's because they don't really know what they want to do with cryptocurrencies. First we had news about Putin being interested in ETH, then we had news about their government controlled cryptocurrency and now there are voices saying they should ban it all. People have frequently quoted this well known phrase ending with "and then you win". It seems we're still in the "they fight you" phase.

a government panel is said to have advised closing cryptocurrency dealers in India
This doesn't mean anything. They can keep advising it as long as they please. You need legislation for it to be legit.

Not only India and Russia wanna ban Bitcoin, there are a lot of countries wanna do the same but it's not easy to control Bitcoin to ban it :)). But I don't really care about it if they are some developing or small country. But it'll be different if it's Japan, in which Bitcoin was born, or US.

That would not have any impact on bitcoin's price.I would say that the indian government is totally confused on deciding about bitcoin.More over,they are in an idea to release their own cryptocoin named Lakshmi.

Even if Russia and India ban bitcoin,people would use the same technique which chinese used.They would just shift trade to counter sales.They would just sell and buy bitcoins P2P.They might use just telegram chats for trade which are well encrypted.

So,whatever means they would use to ban bitcoin,it could not be stopped and at last,they would have to compromise by regulating bitcoin.

Yes, but be sure, that Putin and main core of russian oligarchs know about bitcoin and other crypto, and they a buying cryptos in terribly huge volumes. That's for usual people they are not confident how to do with BTC.

It is really bad as two of the largest marketplace in the world are banned now for bitcoin. Hope the will soon withdraw their decision to invite for the investment here.

It just can't be the truth about Russian BTC ban cos there's the law to be prepared for summer 18. It's kinda old information over there. Peace.

Surely, they will, cause either they would have no choice or they are completely stupid and die soon. Deadly institutions.

arab countries are starting to consider banning bitcoin also . some have already did . Let's hope no country could have an effect on it .

Gross National Product of Russia (2016): 1283 USD Billion
GPD of India (2016): 2263.5 USD Billion
compare:
GPD of Germany (2016): 3466.7 USD Billion
GPD of Japan (2016): 4939.38 USD Billion
GPD of USA (2016) 18569.10 USD Billion

those possible bans would not affect the global bitcoin price in long-term perspective.
though the local prices on black-markets of Russia & India may rise dramatically  ;D

Yes, but policy concern crypto will influence on social reality in nearest future

such a bad news, it seems that ban almost happen to many countries. Actually why the country ban it, we are bitcoiner do trading and mining with its own risk and we prepared for it. But it's already a rule we can't deny. Yeah also in my country the governor of my central bank plan to ban fintech and e commerce that use bitcoin :(

They are not going to ban bitcoin because they can't, but they will make it impossible and illegal for their people to withdraw fiat to their bank accounts that comes from any crypto exchange.

Nigerian banks banned all transaction in bitcoin , colombia too , and morocco banks say Any person dealing in the currency of the bitcoin will be prosecuted

It is not an outright ban in India, only a proposal to close dealers. [02/11/2017]

In Russia the announced to block access to cryptocurrency-exchanges. So the russians will have to deal peer-to-peer or use Tor. Since the article was already published on 10/10/2017 it would be interesting to know how it is going now. Any Russians here?

How are russians going to cash out then?

Good for them lol :D
One more reason for russian people to move from this country.

i think this is an old topic its not a surprise they banned bitcoin, every country want to ban something they cant control but with time and people purchasing bitcoin i think we will have a different story

Could you please post some Sources for this?

Also Korea. :'(

That is a bad thing if many countries start to ban bitcoin it is difficult for the users to exchange their bitcoins to real money as the governments will create financial divisions only to block such transactions. Still if the users have a lot of bitcoins, they just need a hardware wallet together with them to travel to the most nearby country and make the exchanges there. Not the easiest of situation but doable.

I do not see the bad enough that these countries ban bitcoin, because these emerging countries have found in bitcoin a reliable store value and are investing important capital in the market. Therefore, once bitcoin banned people will surely continue to acquire bitcoins but now through the black market, which would possibly mean a boost to the price of bitcoin.

Bitcoin hasn't been banned in Russia. People here quickly jump onto the assumption train just by reading titles. Russia can't make up its mind on how to deal with everything related to the crypto market that only grows bigger and bigger. One day they seem rather neutral, where not long after that they choose to go with a more hostile approach, and shortly after that they are neutral again. It has been like this for a few years now, and so far it seems that this will continue for a longer while. It's either them needing a lot time to catch up, or they constantly get surprised by this market and for that reason need to adjust all their planned regulations, which again costs a lot of time.

Recently a Indian minister commented upon Bitcoin, that still its not a legal tender, the government still haven't decided whether to impose a ban or make it legal. So still there is no confirmed news of its ban on cryptocurrencies.
Russia is also not banning in real, they most probably will impose restrictions on exchanges or dealers.

Well about India I’m sure that it’s not banned in India because I have a lot of friends from Indian and I’m doing chat with them every day and they are using bitcoin on daily base because India need bitcoin and Indian high court order to regulate bitcoin because still in many parts of India there is a poverty and bitcoin is going to change a life of them and Russia is a different thing because bitcoin don’t care about any banned around the world.

By officially announcing that the government have an act against bitcoin doesn't mean all those people there stopped using bitcoin, they will still use it but secretly, bitcoin is decentralized, even if your government have full control over your internet connection, you can still access bitcoin and they can do nothing.
These regulation itself I'm pretty sure only punish dealers there that already offering crypto services only.

Yes the government are always trying to ban the bitcoin it is not just India and Russia but also the united state of America.
 The U.S. government is very aware of cryptocurrencies and the rise of bitcoin. This week American authorities from multiple agencies such as the IRS, the Federal Reserve, and President Trump’s press secretary all explained they are monitoring cryptocurrencies and bitcoin’s recent popularity. But i am not sure the government they can stop the bitcoin because it is decentralize, so stay be relax it will not kill the bitcoin.

Yeah,as you said they not yet banned bitcoin in India because I can see the bitcoin tradings happening on localbitcoin.com in India.And Indian traders giving more price than the actual price of bitcoin so many people selling their bitcoins to indian traders so still bitcoin is leagal in India.

i think its temporary

Let them banned bitcoin all they want for they are not the one who will decide if their citizens are going to use it but they themselves (citizens). We saw major countries like US and China not supporting the same said currency but what it  did to the price of bitcoin???-- it made people wanting it more for they know that this thing can change thier future and not their government, who is just there tonshow off and not act to the important matters that their people really needs. We hopethis ban won't be permanent for more russian and indian brothers and sisters will be bless with the oppurtunity that bitcoin has.

These are articles about the banned bitcoin and almost every week I see them. More and more countries banning bitcoin and banning it.

If they decide to ban Bitcoin then there will be a small impact on the price of Bitcoin though it won't affect it by much.

Even I do believe that doing so is highly impossible because much of the people's have invested a huge amount in bitcoins and also several such news were been heard in the past but gave us nothing just some price dump. Perhaps several major investors purposely spread such news to dump bitcoins to some extend and then purchase bitcoins at the dip giving them huge profits.

Similar has been observed in the past when china spread the news about banning the ICO. Bitcoins experienced some major price dump that time and even gave many people's opportunities to buy bitcoins at dip.