India may ban Bitcoin!

[ankit05]

Bitcoin  is banned in many other countries not only in india. I think the indian government should accept bitcoin  because it is  an international currency and bitcoin is doing business online in the international market with networking.  I believe that in the coming time, all countries bitcoin is accepted.

[1715038533]

1715038533

[1715038533]

1715038533

[1715038533]

1715038533

[1715038533]

1715038533

[shiv06]

In india, you can also invest in bitcoin in online marketing, but you  have to convert bitcoin into exchange by exchanging it to your india money currency, Bitcoin works online at international market,  it is only in the coming time will be accepted in india . 

[farhaan]

http://www.businesstoday.in/current/economy-politics/cryptocurrency-dealers-indian-rupee-bitcoin-usd-7000-exchange-rate/story/263187.html

On the other hand, market experts believe that closing down cryptocurrency dealers or exchnages is not the way to stop use of cryptocurrencies. Government will have to put a stop on buying and selling of crptocurrencies in cash. In the event of their closure, buyers can always head out to foreign exchanges, experts told The Economic Times.


in simple words, it's impossible for india to ban Bitcoin because just a panel members opinion about banning crypto like Bitcoin will never gonna happen or considered at all.

even if Indian government announce officially to ban crypto , well, we all have international exchanges and we all know what to do  

Exactly,indian government is totally confused about bitcoin.Some times,it decides to take severe actions against it.Some times,it takes a sudden U-turn and forms a committee to give recommendations to legalize crypto currencies.

And now,another U-turn.Even if it bans bitcoin,still it could not completely stop bitcoin users from using it.I had already planned what to do if such a critical situation arises.I would just sell my bitcoins to my friend in dubai and just ask him to send money to my bank account.That's it.

[smookyjaidev]

No,now India also accepting the bitcoins.they are using the zebpay,xapo,unocoin wallets.but future days we can not estimate.Indian government may take some changes.

[pearlmen]

http://www.businesstoday.in/current/economy-politics/cryptocurrency-dealers-indian-rupee-bitcoin-usd-7000-exchange-rate/story/263187.html

I would want to see how they want to make it happen in that place. What I see here is just a country trying to make a statement since other countries are doing the same thing forgetting that the basis of statement making is beyond holding press statements without the ability to back it up with the right amount of technological infrastructure to back it up to stop an innovation such as this and in my honest opinion, India is not there yet.

[squatter]

This article is pure crap. I am from India myself and I have not heard of any such news yet.

That's probably because it's not news yet. The report is just based on the opinions of advisors who are set to meet with the Indian government regarding cryptocurrency regulation. It doesn't bode well, but it also doesn't indicate what the government will actually do. I think it's reasonable to expect that some governments will follow China and Vietnam with anti-Bitcoin regulations.

In time, they'll back down from these positions when they see how ineffective they are. In reality, it's good news in the long term. Governments banning Bitcoin means it's made the big time. We've made it, guys!

[Svener]

Bitcoin  is banned in many other countries not only in india. I think the indian government should accept bitcoin  because it is  an international currency and bitcoin is doing business online in the international market with networking.  I believe that in the coming time, all countries bitcoin is accepted.

I don't think bitcoin will be banned in india because i heard that india has legalized the bitcoin just before 6 months so i don't they will ban.Bitcoin is doing good for the country's economy helping increasing the income of traders.If the ban also nothing to worry because the bitcoin is fully anonymous so you can use it anywhere and you can convert it into indian currency at any time.

[Pursuer]

base on the news that we read online a lot of different countries may or may not ban bitcoin. and we have been reading this kind of news for years and so far only a handful of countries actually banned bitcoin and they never even made the news.

as far as Indian news goes I see them adopting bitcoin more than banning it. the volume in that country is ridiculously high to the point that price of bitcoin was about $2000 higher than the current value that we see on the exchanges such as bitfinex last time I checked it.

[azuraes]

Is it really possible for a country to cut off means to purchase bitcoin or any other coin in that manner? Wouldn't a VPN solve most regulations they might put?

[Omobs]

Truth is that no one can ban bitcoin or any cryptocurrency. We have international exchangers and we have vpn.

[Siren]

http://www.businesstoday.in/current/economy-politics/cryptocurrency-dealers-indian-rupee-bitcoin-usd-7000-exchange-rate/story/263187.html

Well the India government seems to have a love hate relationship with bitcoin. I think I remember one politician who has been attacking bitcoin and doesn't like it before. Totally forgot his name though. But this is just speculation, its they ban it, Indians will still try to find way to trade bitcoin. This has happened in China as well, Chinese still trades underground as reported. So I doubt that this step will really curb out bitcoin in India.

[novhitadaloma]

yes, the country of India will follow the footsteps of japan.

[yojodojo21]

Sometimes Adaptation needs an Incognito mode to be more anonymous. They might say that they can ban bitcoin but it's not 100% sure, They cannot ban bitcoin as long as there is Internet in Their Respective country. They Cannot ban BITCOIN but They can Ban ICO's.

This was just like the news about CHINA, after banning ICO's they realize that they cannot ban Bitcoin because it is a very GOOD help for The Progress of Economy. 

[illyiller]

Truth is that no one can ban bitcoin or any cryptocurrency. We have international exchangers and we have vpn.

It's more about sending a message to the masses and preventing easy access. In places like the USA, exchanges are becoming increasingly scared to do business with Americans, especially after what happened with BTC-e.

We can get around the bans with VPN on the no-KYC exchanges, but the people who will do so are definitely in the minority. Most people aren't technically savvy and don't know where to begin hiding their IP address. They'll go to the regulated, domestic exchanges like Coinbase and Gemini.

[eann014]

http://www.businesstoday.in/current/economy-politics/cryptocurrency-dealers-indian-rupee-bitcoin-usd-7000-exchange-rate/story/263187.html

I think even if India will ban bitcoin in the near future, it will not affect bitcoin price. Even if bitcoin price will decrease for sure it will increase again just like what happen the last time they said China banned bitcoin. Well, many people are still not believing in bitcoin but for sure it will not affect the potential of bitcoin.

[arlinxoha]

I think this is Fake News. Although I'm not Sour If it is really news, then it's really bad news for us. India is a big country, many people in India use Bitcoin. It will develop in that country. But I do not understand why the Indian government will banned BTC. Even the governments of many countries have banned BTC in their country. But this is a big mistake. There is a lot of potential in betting in the future.

[yusupjatigumilar]

I think if a country is blocking bitcoins or other, it is because it is a state effort to maintain the country's currency strength, it is feared that if a country legalizes the bitcoin eating the country's currency will weaken and there is no value so that the country is experiencing economic crisis.

[nexus2k14]

http://www.businesstoday.in/current/economy-politics/cryptocurrency-dealers-indian-rupee-bitcoin-usd-7000-exchange-rate/story/263187.html

If India ban Bitcoin like China recently did it will just create more traffic in foreign exchanges but it will not stop people from trading. China ban was one of best opportunities to buy cheaper BTC and when you look now at the price it didn't affect bitcoin value long-term, it just created an opportunity to buy cheaper. China is using now Japan exchanged, I believe India will do the same - start using other exchanges.

[Akash1243]

I don't think that any country can ban bitcoin as a whole because bitcoins are international currency so governments can only put a ban on bitcoin exchanges in their country, people would just use foreign exchanges.India banning bitcoins can be also a fake news just to create panic among people which will lead to panic selling and this would decrease bitcoins prices.

[zarados]

again.. more news like this coming from asia. After china, now india show up. But obviously, chinese decision some time ago quite give influence on bitcoin, yet they have a big share of this technology, and finally they decided to open it again. But for India, I think even if this really happened, I don't think it would have much effect on bitcoin development, although the population in India can almost rival the population in china, but I'm sure, still less than 2% of the population knows and uses bitcoin there. So no need to worry about this.