liutenko
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November 03, 2017, 03:19:12 PM |
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OMG. And what about all of these $10 investors:(
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pushups44
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November 03, 2017, 03:24:43 PM |
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Since bitcoin is decentralized, it cannot be stopped by any government or group of governments. Indians can simply buy on the black market or online by bypassing government filters. Sooner or later bitcoin will become so prevalent that politicians will have to back off just to stay elected.
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Akiko
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November 03, 2017, 03:29:18 PM |
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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.
obviously this may not affect much bitcoin unlike for what was happen last time that some countries like china who have a big participate in bitcoin it affect much in bitcoin crypto currency but in this case this is not much be more make an affect on crypto currency. |
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tomkat
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November 03, 2017, 03:50:37 PM |
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See this tweet from Roger Ver https://twitter.com/rogerkver/status/925808796303204352It already happens after the ban in China - the chinese businesses are looking for crypto-friendly jurisdictions like Japan. As long as there are countries like Japan, crypto will survive. The worst thing would be mass-banning by many countries at the same time. |
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HarleyQuinn9876
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November 03, 2017, 03:55:50 PM |
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It's hard to control bitcoin. India prohibits bitcoin also can not prevent the development of bitcoin. Those bitcoin users can go abroad for bitcoin exchange. This approach only prevents the impact of bitcoin on India's economy |
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Dudeperfect
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November 03, 2017, 04:27:08 PM |
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I read the news and I am following up with this news since last few months but I don't think that Indian government will ban Bitcoin at all. There is an official government database called UID number (Unique identification number) in India which is allocated to more than 70% Indians and it includes every detail of the person including photograph, iris scans, fingerprints etc. I strongly believe that government would allow Bitcoins but through regulated way like exchanges which are ready to collect and share KYC details of the user. As we all know that complete ban is almost impossible on cryptocurrencies.
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matuson
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November 03, 2017, 04:34:08 PM |
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Indian government recommended shutting down cryptocurrency dealers operating in the country. But as mentioned in the article, market experts believe that this banning will not stop the use of bitcoin, and personally I think those acts will increase the use of Bitcoin in black market.
Governments should think of other ways to regulate cryptocurrency use.
Lol. You probably do not understand. This is government regulation. Why do you think that the government should promote the use of bitcoins. Any regulation always contains two options. One option with the plus sign is another option with a minus sign. Do you think that the government is interested in taxes on bitcoin? No. They will take the money through Fiat. They do not want to give people freedom. For them it is more important than any money. |
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PokerFace3
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November 04, 2017, 04:17:19 PM |
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Since bitcoin is decentralized, it cannot be stopped by any government or group of governments. Indians can simply buy on the black market or online by bypassing government filters. Sooner or later bitcoin will become so prevalent that politicians will have to back off just to stay elected.
Bitcoin doesn’t care about this as before china had banned it it is now back and cross it previous high price and India will regret about this decision. Because this coin has a lot to deliver and banning it is simply saying good bye to the development and progress and more of it bitcoin is not confined to any region as India bans it other regions will come and join community and india is under developed country so no worries. |
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xianbits
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November 04, 2017, 04:32:54 PM |
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Another country next to Vietnam banning some uses of cryptocurrencies. Maybe their government is just thinking of its people, they can't really ban bitcoin and crypto by just shutting down exchanges, bitcoin users can just send and receive bitcoins peer-to-peer. If China can't do anything to stop it, how much more with less influential countries?
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googs84
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CryptoTalk.Org - Get Paid for every Post!
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November 04, 2017, 05:06:21 PM |
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Indian economy is a developing economy. Popularity of cryptocurrencies is limited. People have mobile phone , internet connections but they still hesitate to do online transactions. They have strong faith in fiat currency. Bitcoin is gaining popularity among young generation in urban and metropolitan cities only. Many bitcoin exchanges are operating in india. Governments has not yet banned any exchange. But central bank RBI issued a circular and warned its citizens no to trade or invest in cryptocurrencies like bitccoins for security reasons.
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Mizan007
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November 04, 2017, 05:38:41 PM |
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No it's bad news, bitcoin is not support some country. India is one of them but they don't baned bitcoin . many people work and invest in bitcoin and they earn from bitcoin.
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Prabesh Raut
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November 04, 2017, 05:54:52 PM |
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Perhaps the government is still waiting for other countries to come up with their own regulations which the Indian government could simply copy.  |
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TTITA
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November 04, 2017, 06:31:04 PM |
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Since bitcoin is decentralized, it cannot be stopped by any government or group of governments. Indians can simply buy on the black market or online by bypassing government filters. Sooner or later bitcoin will become so prevalent that politicians will have to back off just to stay elected.
the Indian government is only worried if many of its people are going to take much advantage of investing and trading bitcoins without paying taxes to them. say it is China who has done this, but the people are still active in the community. if India wants to follow China, bitcoin people not need have to worry, they can still make transactions in overseas exchanges. |
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nizamcc
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November 04, 2017, 06:58:05 PM |
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This will be the worst decision the Government of India will take because they should not stop the use of cryptocurrencies but rather try their hands on stopping the ongoing scams. Just the way Roger said, they will be stupid enough if they decide to eject cryptocurrencies out of their country just for the sake of their own satisfaction (to keep control over people's finances). Governments are scared due to the fact that they might lose it to Bitcoins which is why they are in the making of something that could give a shock to either people who are in support of Bitcoins atm or could be a shock to themselves after seeing money being sent offshore for trading.
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okissabam
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November 04, 2017, 07:02:17 PM |
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Probably they are following what China did to their country but I'm sure they'll still buy those cryptocurrencies but with moderation already once it will be implemented by their government. Maybe they just want it centralized because of how much bitcoin had increased.
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saiteja01
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November 04, 2017, 08:54:44 PM |
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No Indian government can't ban Bitcoin.But they can add some regularities on the exchanges.Because even Indian government needs this technology. |
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BUY_SELL
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November 04, 2017, 11:22:19 PM |
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Here the question is different: the main thing that Bitcoin did not forget about India  Any country in fact can, in a single-term perspective, abandon the use of Bitcoin. In fact, countries that officially use Bitcoin are much smaller than those who do not recognize crypto-currencies. Basically, this is done with an eye on the future creation of its own crypto currency |
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tabas
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November 04, 2017, 11:26:20 PM |
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No Indian government can't ban Bitcoin.But they can add some regularities on the exchanges.Because even Indian government needs this technology. If they want it to happen, they will ban it. That's why many Indians are going to suffer with the ban. But we can't with this "ifs" and "may" while theres no application of what they want to happen. Following the footsteps of China? They will even unban it later. |
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Viscera
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November 04, 2017, 11:27:52 PM |
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I think its a FUD news. they want to crack down bitcoin. nonetheless their government are very corrupt they will ban bitcoin specially those trading exchanges. but for my opinion India is one of the best economy in Asia. some of my friends there wants to open a start up business using blockchain.
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GreenBits
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November 04, 2017, 11:39:02 PM |
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This is pretty much some of the same we are seeing every week nowadays. Price gets uncomfortably high, governments get concerned about capital flight (In India's case they have all that black money situation going around. I guess 7000 was the magic number this time. This was China, the was the SEC with the ICO regs, and this is all the talking bank heads that have something negative to say every time we reach new heights. If we breach 10k, expect most sane governments to step in very suddenly, and regulate very heavy handed. |
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