Another article. Yes Bitcoin is still not completely banned in india.
"The cryptocurrency debate in India has turned on its head.

The Reserve Bank of India (RBI) has initiated a crackdown on cryptocurrencies such as bitcoin, even as it considers a proposal for issuing its own digital currency.

“It has been decided that, with immediate effect, entities regulated by RBI shall not deal with or provide services to any individual or business entities dealing with or settling VCs. Regulated entities which already provide such services shall exit the relationship within a specified time. A circular in this regard is being issued separately,” the RBI said in a statement.


This may mean the end of the road for those who own bitcoin or its peers, as well as the many virtual currency exchanges. The existing business ties must be wound down in the next three months.

“Internationally, while the regulatory response to these tokens are not uniform, it is universally felt that they can seriously undermine the AML (anti-money laundering) and FATF (Financial Action Task Force) framework, adversely impact market integrity and capital control,” RBI deputy governor BP Kanungo explained at a press conference on April 05. “And if they grow beyond a critical size, they can endanger financial stability as well.” AML and FATF are international policy frameworks aimed at combating money laundering and terrorist financing.

Virtual currency players in India are naturally disappointed with the RBI’s decision.

“I don’t believe this is the right direction that the central bank has taken. This will cause panic among a few million people in India who are already using cryptocurrrencies,” said Sathvik Vishwanath, co-founder of Unocoin, a virtual currency exchange in the country. “If they want to launch their own digital currencies, they don’t need to ban existing ones.”

“This means that banks will not probably give loans to cryptocurrency exchanges. And the transactions will also get affected,” said Shubham Yadav, co-founder of of Coindelta, another cryptocurrency exchange. “However, the silver lining here is that they still haven’t banned it fully.”

The central bank, meanwhile, has constituted an inter-departmental group to study the feasibility of a digital currency backed by the RBI. “This will be in addition to the paper currency that we have. It also holds the promise of reducing the cost of printing of notes,” Kanungo said. The committee will submit its report by June 2018.

Some cryptocurrency players see this as good sign. “RBI issuing their own virtual currency just shows that soon there will be an ecosystem where cryptocurrencies will be central to the ecosystem and the government will not be able to ignore it,” said Coindelta’s Yadav."

"The Reserve Bank of India (RBI) is considering issuance of its own virtual currency (VC) while instructing financial institutions to refrain from and cut off business relations with private entities that are dealing with virtual currencies .
 
Several central banks all over the world are debating the introduction of a fiat digital currency as opposed to the private digital tokens, which are growing in popularity, said the RBI. This currency will be issued by the central bank and constitutes the liability of the central bank. Digital currency, if issued, will be in circulation in addition to the paper currency and holds the promise of reducing the cost of printing currencies, said the central bank.
 
“While many central banks are still engaged in the debate, an inter-departmental group has been constituted by the Reserve Bank to study and provide guidance on the desirability and feasibility to introduce a central bank digital currency,” said the central bank.  The report will be submitted by June-end.
 
The RBI, however, has frowned upon private cryptocurrencies and ring-fenced regulated financial entities from entities dealing in these digital currencies. The financial entities by the RBI are instructed to stop having a business relationship with entities dealing with virtual currencies forthwith and unwind existing relationship within a period of three months.
 
“Digital tokens by private currencies have been getting attention worldwide for their speculative value. While regulatory responses to this token currency are not uniform internationally, it is universally felt that they can seriously undermine the AML(Anti-Money Laundering) and FITF ( Financial Inclusion technology Fund) framework, adversely impact the market integrity and capital controls. If they grow beyond a certain size, they can endanger financial stability as well," said B P Kanungo, Deputy Governor, RBI.
 
Reserve Bank had repeatedly cautioned users, holders and traders of virtual currencies, including bitcoins, regarding various risks associated with dealing with private virtual currencies previously. The central bank, however, acknowledged the potential benefits of the underlying blockchain technology and said that it should be utilised to benefit the economy."

From Business Standard article.

Yes ETH fork won't do any good. It is now only in the hands of AMD or Nvidia or a asic resistant coin that can challenge the might of ethereum. Man ! one by one all of the big guys are down. We thought ETH will be safe, but no

I don't think so that will ever happen. Samsung is such a big name there is no need for them to touch this hot market of altcoins. I don't know where you get your news from but this is definitely a fake one.

If this is not an ASIC then what good would it do ? The only hope now is if Nvidia or AMD produce new mining specific gpu or an asic resistant coin which can challenge ethereum's market capital.

 

We need more competition.....competition in asic development. Bitmain is capitalism gone wrong. No competition, complete monopoly and exploitation. There is no company that can stand against Bitmain that's why they are doing whatever they want. If there was competition then prices would be low and so would be the chance of them mining the hell out of those asics before releasing them. Until AMD and Nvidia develops a mining specific gpu or until a asic resistant coin surpasses ETH's market capital it will be dark ages for gpu mining.

These are useless for mining. ETH mining with gpu is dead anyways. Until Nvidia or Amd release a new gpu specifically made for mining it will be sad for gpu mining.

This garbage has officially killed ETH gpu mining for now. Until ETh dev comes up with something or AMD or Nvidia develops a new gpu specifically designed for mining.
This garbage is still very low cost and very scalable. Good for mining farms. So it will increase difficulty on all the coins as big gpu farms will switch coins.

Maybe they are just playing the supply and demand game. Also as others have stated it is going in and out of stock recently.

ROFL !!!  Bitmain's economy model in a nutshell.

Now compare the cost and space of your rig with this. This thing no matter how weak it is will hurt gpu mining a lot.

It is very low cost and is very scalable. So expect big mining farms using this which increase the difficulty of ETH and then those GPU farms will switch to different algo. It will increase difficulty on all coins.

The thing is nobody will build brand new AMD rigs. Of course you run your AMD rig and make profit. Again Nvidia cards are better for zec mining. Until AMD makes a new gpu that is especially good for mining, their mining game is over. Like I said I am already seeing price cuts in AMD cards.

I was talking about Monero fork's difficulty skyrocketting. As ETH difficulty rises they start moving toward it increasing it's difficulty.

If this is not an ASIC then how will changing algos do any good ?

Nvidia cards are affected but not as much as AMD. Affect on Nvidia cards is more like a side-effect but AMD has become the main target due to less algos it can mine and main dependency on ETH.

Those who already have AMD rigs will continue to run them of course but no one is going to build a new AMD rig now but people will still continue to make Nvidia rigs. If you think that they both are equally affected then you can see the price difference in upcoming days b/w AMD and NVdia cards. AMD cards are going to become cheaper, I am already seeing the price cuts happening with AMD.

It will be even worse. All of ETH miners will jump in along with those who were already going to mine it. Difficulty will skyrocket.

This thing is not even a ASIC, it like a more compact panda miner but it will have an affect that no other ASIC ever had. It will disrupt the whole gpu mining network.

But I do think for some reasons that GPU miners are big believers and pillars of Ethereum. So most probably devs will change the algo but what good will it do if this is not an ASIC ?

The only soln. will be if Nvidia and/or AMD develops a new gpu which will be very efficient in mining or we need some coins that can challenge the market capital of ETH.


 

Bitmain should start making gaming GPUs. Nvidia and AMD will go out of business 

It doesn't matter if you mine ETH or not. This will affect all the coins.

Right now either newbies or big farms are the one who mine ETH. Now due to these Bitmain miners they switch to other coins.

They will come after your coin and increase the difficulty. Doesn't looks too good now eh ?

OFC they mined the hell out of them. Now they are releasing it because they have already made enough profit and eth might go pos in future so this is the perfect time. They also have antminer F3 which I don't know if it's true or not could mine ethash at a real ASIC level.

Even this small device would kill ethash gpu mining due it's low cost and scalablity.