How long until India "bans" bitcoin and it's effects?

[alyssa85]

They'll ban gold before they ban bitcoin. Bitcoin is still deep under the radar in India, only a few people in the loop know about it.

[cryp24x]

Govs can't have this freedom go on too long, how deep of a correction when they " ban" it?

Probably when the government understand what bitcoin is and adopt bitcoin and wanted Bitcoin by themselves, that would be the time they will ban bitcoin.  Correction of bitcoin price if isolated only in India won't affect the bitcoin price at all, unless there is some whales who capitalize on the news and spread FUD across the internet then, probably a dip effect will be -$200+ 

[pooya87]

Govs can't have this freedom go on too long, how deep of a correction when they " ban" it?

Probably when the government understand what bitcoin is and adopt bitcoin and wanted Bitcoin by themselves, that would be the time they will ban bitcoin.  Correction of bitcoin price if isolated only in India won't affect the bitcoin price at all, unless there is some whales who capitalize on the news and spread FUD across the internet then, probably a dip effect will be -$200+ 

the news has to be big itself if they want to capitalize on it and use it as an FUD force to push the price down. and news of India banning bitcoin is not even medium big! a big news was a big exchange like Bitfinex getting hacked and seemingly big number of coins stolen. the whole Indian volume is not even half that amount.

[hakanbalta577]

They'll ban gold before they ban bitcoin. Bitcoin is still deep under the radar in India, only a few people in the loop know about it.

I totally agree with your words that bitcoins is still deep under the radar in India.No body can even think about bitcoin as there are lot other major issues.No body talks about bitcoins and is never trending in india,so i dont think any thing will happen about bitcoin in India any time soon.

[TastyChillySauce00]

They'll ban gold before they ban bitcoin. Bitcoin is still deep under the radar in India, only a few people in the loop know about it.

I totally agree with your words that bitcoins is still deep under the radar in India.No body can even think about bitcoin as there are lot other major issues.No body talks about bitcoins and is never trending in india,so i dont think any thing will happen about bitcoin in India any time soon.

Even I doubt that more than 20% Indians know bitcoin and the active users must be lesser than the amount of people who "only" know bitcoin. Gold was very known in India by almost everyone while bitcoin is a small thing for them, that's why I'm sure that government will not really be giving attention onto bitcoin until at least bitcoin becoming as popular as gold

[jondeen707]

Obviously, there's no reason for Indian authorities to view bitcoin as a threat to their grip on the monetary system. Yet the move to phase the banknotes out was dubious at best. So, who knows what's on their minds. Anyway, it won't have any major influence on the price.

[tabnloz]

Here is a good article on India's cash ban.

tl:dr the cash ban and drive towards digital payments is a joint effort between the Indian government and USAID.

Well worth the read

"A Well Kept Open Secret"

http://www.globalresearch.ca/a-well-kept-open-secret-washington-is-behind-indias-brutal-demonetization-project/5566167

[alyssa85]

Here is a good article on India's cash ban.

tl:dr the cash ban and drive towards digital payments is a joint effort between the Indian government and USAID.

Well worth the read

"A Well Kept Open Secret"

http://www.globalresearch.ca/a-well-kept-open-secret-washington-is-behind-indias-brutal-demonetization-project/5566167

India is a democracy though - there is every chance that the population will get cross and throw Modi out. And the new govt will ensure that there is plenty of cash, lest they get thrown out too.

[erikalui]

RBI keeps threatening and news channels too post all negative factors of bitcoins. I know that the Indian market is too small to affect bitcoins as a whole but it will affect many users from India if the currency is declared illegal here.

Modi has already passed a law on those who earn big loads of gold and hence bitcoin is not something that can escape for long. If some big trader or exchange website shuts down, we can see the ban coming soon.

[JasonXG]

Govs can't have this freedom go on too long, how deep of a correction when they " ban" it?

Dude noone can ban bitcoin. Or do you bow down to every single law and thing your government does ? It would cause havoc and uorise that is all it will do. It will just plain piss people off.

[masewild]

Govs can't have this freedom go on too long, how deep of a correction when they " ban" it?

Dude noone can ban bitcoin. Or do you bow down to every single law and thing your government does ? It would cause havoc and uorise that is all it will do. It will just plain piss people off.

That is the reason more and more people are using the bitcoin.

[Wowcoin]

No one knows the timeline if how long that banning will takes but I am sure that the effect is wost all over the country and the people who benefited well with bitcoin from previous years. How greed s their government and how could it help with the government if they continued bans on this crypto currency, thats a great devastations of their economy such a non sense decision of their leaders, and I hope that will not stay longer.

[bajing]

I guess we only can be patient and especially for the people who live on the country that has been banned bitcoin due now big industry has use bitcoin so im sure one days the goverment of the country that has been banned bitcoin will unbanned bitcoin.