Bitcoin Forum

i heard about india and actually whats happend to cryptocoins not just india but in some other countrys too ithink that take about bitcoin a wrong idea and theres tunisia too their gouverment sayed how that use bitcoin make big toroble that how world move ifeel so sad about that

If we speak truly, some big millionaires are controling the India so they need Bitcoin automatically it will moon. Not only India many high population countries controlling some Big millionaires. In my point of view Bitcoin is reducing the demonitation issue so we use freely at anytime. It take some time to understand everyone so we must wait for future acceptance.

India is a rich country and most of them don't think of blockchain adoption because all they know is they don't need it. They would want regulation and manipulation so they don't want crypto adoption since it's decentralized.

The welfare gap in some countries is big. Its too sad to say that a country is being controlled by some big millionaires. But I think bitcoin can actually benefit indian society, I think if ordinary indian people buy bitcoin then if bitcoin price rise then those people will get profit. So I think if indian government can be stronger and regulate and accept bitcoin as legal money then it will be good for India.

Countries, which have a undeveloped economies, rely more on crypto assets. For the same reason, India's confidence is less. This means that there is currently a proportion between economic development and the trend of cryptocurrencies.

Rich country? It is a developing country with a couple of crazy rich people who are a minority while the majority are either from the middle class or poor basically. Every country needs the blockchain tech while some accept crypto completely.

The Indian government at present is basically filled with fools who are basically scared of how crypto can affect their power which is why they outright banned it.

There would always countries who would reject cryptocurrency adoption especially India which is under the influence of the government.
They have banned it because they're focusing on the risks and negative effects that it might bring regardless of the advantages and developments that it might cause them.

Mr Smart guy, right? I have noticed that you have been contradicting in every thread instead of answering the topic directly. Is that how you endorse your campaign? I'm curious.  ???

What I know in India is that its still unclear if they literally aren't into crypto.

And as for checking some articles that's related to this topic. I've seen this article that says the zebpay CEO that India is unlikely to ban crypto --> https://micky.com.au/india-unlikely-to-ban-crypto-zebpay-ceo/

I'm confused that he said these words but they were forced out of India due to the RBI's policy of banning banks for crypto exchanges.

India is actually on the 5 place in the world by GDP, and there is no doubt that it is progressing strongly in economic terms. There is a huge difference between rich and poor, but this is also the case in some other countries. Although the level of poor decreases in India, poverty is still 15%, but it significantly decreased in last 15 years (42% in 2005).

What was the exact cause that India does not want or can not regulated cryptocurrency for the benefit of its citizens, and therefore for their own benefit is a big question. In any case it is not good that biggest countries in the world like China and India have very negative attitudes toward cryptocurrency. My opinion is that main reason for such behavior may be in the strong desire to keep people in some way under control of the state. Bitcoin is just something that does not fit in the way they want to lead their countries.

It's okay if some countries don't support Bitcoin. Well, it's not so great for people in those countries, but it doesn't change the overall world attitude to cryptos. India is still deciding of I am not mistaken, some other countries that appear in the fud news pieces have not made up their mind yet as well. The world will accept cryptos eventually. The bank's might fight, but their days are numbered. There's no need to worry.

Till last year, there were several exchanges in India that made millions from crypto deposits/withdrawals and now most of shut down. The Government is trying to stop any possibility of money laundering which resulted in demonetization and then it was reported that over 50% of Indian money is stored in Swiss banks. They wouldn't allow cryptos for this obvious reason but they could easily choose to regulate the currency by introducing strict policies but they don't want to take any effort.

The government in India are one of the most corrupt governments in the world. They obviously want to retain their control over the "poor" people in their country and they do not want them to have total financial freedom.

India are one of the countries that would benefit the most from an international payment method that are extremely cheap to use for micro transactions. A lot of people in India are informal entrepreneurs and they can benefit a lot, if they can enter the formal global market.  ;)

Despite the fact that the government of India made some policy as it affect bitcoin and the entire cryptocurrencies it evidence that the chunk of the billionaire and the money bags will still consider using cryptocurrency rather then the traditional faint currency because cryptocurrency offer them the total financial freedom.

Agreed, India is one amongst the most corrupted countries in the world. Even after massive number of corruption cases India stands high among the one with the highest GDP. The government doesn't want people to go away from their control. To stick to them India has been making some form of confusion among its citizens. This confusion makes some to use it and rest to stand away fearing regulation.

We should not be buying bitcoin just for it to rise in price and make profit out of it. Our main goal should be to use it for what it was created.

It isn't a big question because the media has already shown us why crypto is not legalized or regulated yet in the country.

Many months back the RBI issued a case against cryptocurrencies in the Supreme court of India. It said that cryptocurrencies encourage money laundering and since then the case is 'still' going on.
The court has been pushing the dates to make the final judgement. To be clear, India is against cryptocurrencies but not the blockchain technology as many companies have started using the blockchain technology already.
I guess India will only come to realize that it should regulate cryptocurrencies when all the other countries start to regulate cryptocurrencies.

RBI did not issue a case against cryptos in the SC but petitioners who seeked a stay on the RBI circular started this case against RBI. Now Facebook's blockchain group is releasing a stablecoin that will be pegged to USD and India will be first to test it.

I agree those countries that are against crypto doesn't really want their people to have a taste of financial freedom.
They don't want crypto because it is decentralize and they couldn't control it and they wouldn't gain a benefit from it.
They just want to stay on their own way ,they doesn't really want to try something new.

Me too mate I also feel sad about what happen in that said countries. Bitcoin can be their key to success and to make their economy grow up. Well, for those countries that didn't accept bitcoin for sure there will be a regret in the end and just saying that they should recognize bitcoin immediately.

India will adopt Bitcoin and government cannot help this. There are more than 1.3 Billion people with more than half living in poverty. Cryptocurrency is their only escape.

indian government never banned crypto officially. All the recent romour are coming from new site that it can be banned. I will wait until government issue any official statement .

FUD's are grinning us, news manipulation and people could think that it will only give troubles and disaster. They wrong from what they understand, India never have any statements that they will ban crypto but it sounds like they just abandoned it knowing that crypto never gives a big attraction to them because of their status. May investing crypto isn't the priority of the majority.

We will see what happens next, it is just like this moment when Bitcoin was starting soar last ATH. There were many FUD etc to rollback the price and add the hacking of Binance. It seems unreal and not trustworthy at all just to depend on a single source , we should be resourceful and research as many viable information as we could. After all I see some good news about crypto currencies lately, me and my colleagues are also taking measurements on how to increase our crpyto assets. India is just a small part of the world even if they totally banned crypto currencies there, there would always a country that would take its place.

I don't understand  why people bother about countries like India having a problem with bitcoin since their poverty rate is so high that it could not affect the market even if they would want to. Those are countries with a very bad economy and can't do much to help bitcoin so there is no need to worry about them banning crypto or exchanges.

India has some rich people, but most of the people are poor, and we they have extreme rich people there. What might be happening in India is that: the super rich want to stay on top and been worship by the less privilege, Crypto gives power to everyone who own them and this way, politicians and thieves might be able to steal them,

India is the largest democracy in the world and thus the government of India is playing safely around cryptocurrency as they know the twist of this industry but yet the audience ratio in India who likes crypto and bitcoin is higher and increasing with the passing time.

Government of India is sick with their judgements and I can say this from my personal experience as I am from India. The political matters take ages to bring forward a a legal justified judgement.
Implementing new laws takes ages as well excluding the monetization act. To be honest, not only India but there are many similar countries which are still lacking behind in terms of accepting cryptocurrencies as a legal tender. Regulation will still take good amount of time before being implemented in these nations.

india is rich country hhhhh from where you bring this bullshit and how you even speak here hhhhh

the paper money coin dont worth nothing the poverty is so fucking huge, mercy on your soul with this kind of knowledge which is based on nothing, the economy of india i shit and will be shit ask any expert economist.

how much bullshit you probably talk on a daily basis compare to what you said now.

you need to understand that if something happen to the usd and it start to crash the richest people in the world from paper money will lose the game,

country like india and others like this are not for the people, nothing new about this, what will happen in the future is crypto peer to peer money will eat the entire system like peer to peer file sharing and the countries that ban crypto will left behind, they already in deep shit because their money dont worth nothing and the poverty is so huge and after they ban crypto they will crash, because their money dont worth nothing and if the usd start to lose power, no body and i mean no body will ever touch india money...very simple.

the richest people of india convert their money to other money like usd and euro because they know there money paper has shit value...but in the future they will left behind and crash very hard..''

SAVE THIS POST AND COME BACK IN 15-20 YEARS...

great answer mate at last somebody here know what he speak compare to all the bullshit here...

remember to think with sharp logic , peer to peer money is come from peer to peer file sharing which mean it will eat the entire system , like file sharing it come from this idea and it will happen without any speculation and we dont need to predict the future and nothing , its just going to happen.

yet to scale peer to peer money comapre to peer to peer file sharing ,the friction in peer to peer money is much more high then peer to peer file sharing but it will over come and fast.

there will be countries that will ban crypto for sure!!!

but to stop it , its impossible.

If I am not mistaken, the government of India is actually doing some serious research as to the final fate of crypto, especially Bitcoin, in their country. This has taken different twists and turns already. But even with the government pronouncing disadvantageous remarks about Bitcoin, a good number of Indians are actually having access to Bitcoin. As to Tunisia, I am not sure, but a lot of Arab countries are not really open to crypto.

India may be a smart developing country. I think in an Indian country with a large population. There may be a lot of technology and thinkers there are better and will use bitcoin later. probably will grow bigger in the whole world. I think bitcoin is very beneficial for the success of life today

Recently, the representative of Russia also expressed the opinion that cryptocurrencies will never be officially recognized on the territory of Russia.But nevertheless, a lot of investors in cryptocurrencies are in Russia.I think that all this news is a temporary phenomenon. Cryptocurrency is the trend of the entire 21st century. It is an inevitable fact and many countries will still have to use cryptocurrency.

It feels like you're an Indian trying to figure out the situation by pretending to be from somewhere else since Bitcoin is banned in India. The thing is India is pretty positive about this ban and they don't want anything to do with it for public safety reasons which definitely makes sense cuz India is the second largest population country and there's so much responsibilities. Its honestly too complicated for me and have no idea whats gonna happen in future, Until then let's just hope for the best :).

Ahead of the G20 summit, India’s new finance secretary has confirmed that the report detailing the country’s crypto regulation is now ready. It will soon be submitted to the finance minister for approval. Since Arun Jaitley opted out of cabinet responsibilities, Prime Minister Narendra Modi has appointed a new finance minister. https://news.bitcoin.com/indian-cryptocurrency-regulation-ready/ (https://news.bitcoin.com/indian-cryptocurrency-regulation-ready/)
You can see India like Russia. Russia is in just investor, there is no exchanger, but India is much ahead from there. Indian governor is not blocking crypto. https://news.bitcoin.com/indian-supreme-court-postpones-crypto-case-governments-request/ (https://news.bitcoin.com/indian-supreme-court-postpones-crypto-case-governments-request/)
The G20 summit, India is presenting people with cryptography in a new way. There are trouble in almost several countries about Bitcoin, and India will continue to play pioneering role.

India is really a very big country, but people live there to a greater extent beyond poverty.  Apparently such a state device satisfies almost everyone.  But if most of the population of India was negative about Bitcoin, but the state would not have to introduce criminal liability for the use of cryptocurrency.

As said India is a big country that contributes in all form to the world economy. In terms of growth also it stands high in almost every sector. People are living under poverty, but it has decreased a lot compared to the past.

Slowly the people too have begun to learn and as a part it is the second largest number of smartphones using country. People have been moving towards digitized growth, this is good and the government is supportive.

Only for Cryptocurrency they have a opposite opinion and this is nothing a big thing to discuss, the prime reason is the decentralization which might make people go away from the control of government.

UPDATE : It looks like India’s Prime Minister Narendra Modi made a complete 360 on his opinion on Crypto currencies at the latest G20 Summit in Osaka Japan. See : https://bitcointalk.org/index.php?topic=5161176.msg51701972#msg51701972

I think they were uncertain about the technology and how to regulate it and now after the G20 Summit, they received good guidelines with the FATF standards that was provided. India might even become one of the strongest supporters of Crypto currencies, if they apply these standards.  ;)

I guess Cryptocurrency is very popular among countries that are underdeveloped and that has many people in extreme poverty, They are truly seeking things that could let them get out from poverty, And a strengthening proof that India is fully aware on how crypto can handle their countries problem is because of this article.

https://www.gulftoday.ae/news/2019/07/05/india-among-top-5-nations-who-tweet-most-about-bitcoin

Because India belongs to the Top 5 nations that have tweeted most about Bitcoin

Most people in India are middle and lower classes. I think people in India love cryptocurrency very much, but they are held back by the government with the help of their resources.

I think that it is impossible to say that the government of India completely wants to give up cryptocurrency.  The media states that they want not only to impose a ban on cryptocurrency, but also to impose a punishment for using cryptocurrency in India.  But at the same time they want to create their own national digital Rupee, which can be used by all citizens of the state.  Nevertheless, it seems to me that with this they want to create a monopoly.

I think they are held back by a lot more than cryptocurrency. You see if people can work and get paid crypto they might stop working for the country and rather working for other parties elsewhere in an online environment.


Exactly! Since the people were the ones that voted them in in the first place. The problem is when personal agenda gets in the way and propganda is started and the weak fall prey to it.

With in regards to India which I am familiar with, many people have issues accessing their bank accounts and making transfers. India is very much interested in Bitcoin. Many people now in India have smart phones and are very much willing to engage in buying bitcoin and transferring. It is just a little surprising to people there that they don't receive physical cash instead of digital means of exchange.

Actually , you should know that even if the government banned the bank payments and all we still have many options to trade in Bitcoin .
Some people sold off majorly while hearing the news that everything is going to be banned , while there were others who actually knew this is something that cannot affect Bitcoins as a whole since it is not controlled by government.
You just have to pay a little more fee now and it is not that profitable for the smaller transactions but at least you can get money in your bank account or even buy .
They banned a part of it and made it difficult for us , but still that's just because they want to bring out their own cryptocurrencies.