Bitcoin Forum

Wow! funny.

RBI  puts out  a  press release, few indian exchanges close their shutters. Bitcoin's overall network dont  give a shit  about it. 

Sad to know India cant  even make a mark in new technology, and the regulatory authority is  acting like it the next  big  thing in  money laundering weapon.  and Permission  is required. Meh......

It was Christmas so, Bah Humbug!! 

satisfied much.

Wut is RBI? Brah

I think it  was a  dinosaur that was  suppose to die out, when the meteor hit  earth a  few million years ago.

Care to share the charts ?

https://i.imgur.com/uGAcbmM.png

the charts keep  going up.

The press release does not say it has banned the use of BTC(which cannot be done practically)
just cautions the users to be aware of the use of crypto-currencies and the fraudulent ways we can be drawn into.

It has also shoot out a warning to all those trying to use it for illegal trades and money laundering, that the govt keep a close eye and is tracking all indian transactions.
Though BTC usage cannot be controlled, there are ways to track down large transactions from indian ip addresses. So any suspecious transaction could draw in interest from the Govt.

So i think the press release was a warning for the jackals and an alarm for innocent who get cheated by cons and thieves

Why would chart give a damn about country with few nodes and handful of Bitcoins? No surprise!  ;D

India is smaller than a midget but likes to think of itself as some kind of "superpower"

Tell that to frantic Modi supporters calling themselves 'Bharat mata ke bhakt' and see if they don't beat you into a pulp.  :D

http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)
http://timesofindia.indiatimes.com/business/india-business/India-to-be-worlds-3rd-largest-economy-by-2028-UK-thinktank-says/articleshow/28059381.cms

India is in 10th position now. While US & China is in 1st & 2nd.
So, its natural, Indian raid didnt affect any thing in bitcoin price.

If India wants to conquer the 3rd position(or anywherein the top 5) in that GDP table, it needs to stop whining and start reading some literature from the internet community.
The first thing it can do is start accepting the idea of bitcoin and other cryptos, because it is going to be "the way of the future"  ;D

In India a person can live on less than 100 Rs per day. You can't live in the US with even 2$/day. PPP is a much better indicator than nominal GDP I believe, and India is already 3rd over there (EU shouldn't really be counted)
http://en.wikipedia.org/wiki/List_of_countries_by_GDP_%28PPP%29

WOW.. that is something new and proud to hear... :)

Its a shame that people live in less than a 100Rs a day. That shows, the living standards of people have dropped to such a level.

its been always the same... crappy politicians make billions but the hardworking poor get less than rs.100 a day to live

but atleast it is good to know one can live here with that low income.... there are still small shops here which provide a full lunch for rs.25

Peoples who don't know anything about technology is monitoring Internet Business and even they can't understand what is Bitcoin ;)

In India the afsar-shahi is always reluctant to learn about new things but rather try to apply old rigid framework on newer concepts that don't even fit in. A visit to any BSNL office will show that with the uncles and aunties working there with very basic knowledge of networking.

I agree that Indian government doesn't realize the full potential of bitcoin yet. But some guys here on this thread need to do their homework before expressing facts about India. They remind me of few primary school kids I met in the US who used to believe that people in India use elephants instead of cars.  ;D

What the way the Indian government and the press is reacting right now they might as well be  riding elephants and camels.