India may ban Bitcoin!

[dillo666]

As per a recent CNBC India report, a committee of finance ministry officials, IT ministry officials, NITI Aayog, and Reserve Bank officials, may be inching closer to legalising virtual currencies in India.

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[flower1024]

As per a recent CNBC India report, a committee of finance ministry officials, IT ministry officials, NITI Aayog, and Reserve Bank officials, may be inching closer to legalising virtual currencies in India.

I went through some articles, Indian PM and finance minister is planning to make India is Digital India in few years, so they are ready to accept the all digital transactions. And the bitcoin is also a digital money so I think they will not oppose and they might be accepted bitcoin as a legal currency in few days.

[Bitcotalk]

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.

Well it’s not true in Asia India is a very big market for trade and just few days before India make bitcoin legal in his country and now they start taking profit from it so I think it’s totally untrue that India is going to banned bitcoin in his country its also true that in need bitcoin for is economy and in some part of India there is a poverty so India will not banned bitcoin.

[Gloriel]

You can ban anything you want. But it doesn't mean it ll work... After China ban the bitcoin price doubled

[Lancusters]

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.

Well it’s not true in Asia India is a very big market for trade and just few days before India make bitcoin legal in his country and now they start taking profit from it so I think it’s totally untrue that India is going to banned bitcoin in his country its also true that in need bitcoin for is economy and in some part of India there is a poverty so India will not banned bitcoin.

Why do you think that the government is interested in the problems of ordinary people. For the government it is important that the inhabitants lived on the edge of poverty but did not rebel. Such people are easy to control. Bitcoin breaks this system. So I would not be surprised if all of the state will fight bitcoin.

[bodikuk]

India has good business ethics,so may not possible to ban.bitcoin is popular in india also.indians are encouraging the digital currencies.may be india afraiding with fake news of bitcoin.

[eXpl0sive]

If exchanges are banned, the money would flow through cash transactions / black market, which would be even worse.

The only logical decision they can take now is to enforce proper KYC policies on Indian exchanges instead of banning them.

[desi92]

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 

Hey, are you from india? From your statement i can just share that you will not care what your government do about bitcoin.
So you still keep use bitcoin. Thats good decision that you still support this crypto.

[worldofcoins]

Meh, it won’t do much to the price even if it does happen. Maybe there will be less ‘show bob & vegena pics’ using sex services on the dark web but that’s about it.

It will also stop all the Indian account signature farmers as well, joking.  Even if so still is not healthy for Bitcoin and as  I recalled Bitcoin has always been illegal in India.  I once try to hire an Indian to develop a website and pay him in Bitcoin and he said it was not allowed and that was a few years ago.  Indians are learning that the gov or the banks cant really stop Bitcoin so they do continue to use it as of today.  Message to you guys do not let anyone tell you how and where to climb a mountain.  We strive for  world currency which we all can use.

[JTPhotography]

India.

[HBT_HE]

It's very likely that they feel bitcoin will have an impact on their economy, so it will be ban

[bitcoinveda]

https://economictimes.indiatimes.com/markets/stocks/news/rbi-working-on-cryptocurrency-policy/articleshow/61067211.cms

RBI is working on new rules may be implemented next financial year

[1Referee]

If exchanges are banned, the money would flow through cash transactions / black market, which would be even worse.

The only logical decision they can take now is to enforce proper KYC policies on Indian exchanges instead of banning them.

From our perspective forcing through regulations will be the only logical way to go for the governments, but they obviously think in a completely different way. For them it's like someone (Bitcoin in this case) is holding a knife up their throat ready to cut through, where they in a split second have to come up with ways for them to stop it. That's basically also the case with China shutting down its exchanges. I am quite sure that it's nothing more than an attempt to buy time, in order to come up with more fitting (for them) regulatings. It's stupidity that they haven't done this back in the days where the general public was still falling for 'Bitcoin is the currency of the underworld' nonsense. That would be the only way for them to at least have a chance of somewhat succeeding in prohibiting Bitcoin usage.

[Reatim]

Meh, it won’t do much to the price even if it does happen. Maybe there will be less ‘show bob & vegena pics’ using sex services on the dark web but that’s about it.

It will also stop all the Indian account signature farmers as well, joking.  Even if so still is not healthy for Bitcoin and as  I recalled Bitcoin has always been illegal in India.  I once try to hire an Indian to develop a website and pay him in Bitcoin and he said it was not allowed and that was a few years ago.  Indians are learning that the gov or the banks cant really stop Bitcoin so they do continue to use it as of today.  Message to you guys do not let anyone tell you how and where to climb a mountain.  We strive for  world currency which we all can use.

Is that so? I though that bitcoin is unregulated in bitcoin till this news come out. And also there are a lot of Indian around here so I though it isn't the case. However, if their government decided to ban bitcoin, no need to worry I think you can go the same way as the Chinese do, go OTC and continue with your bitcoin earnings or trading.

[bakkang]

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

As i read in this forum i notice many countries like china and even india banning bitcoin, what happen to these country? I think bitcoin is the best cryptocurrency right now so theres no reason to banned bitcoin. Well i think that is because they think that bitcoin can replace the paper money thats why.

[Slipknot79]

they can try but never suceed. If they ban it it will just become more popular. History has proven this. Besides who can they attack - Bitcoin is decentralised!

[soupyyo]

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.

[sharkvn]

I found that many countries have banned bitcoin but it still exists and is used very commonly. I think this will not affect bitcoin. Then everyone will understand the importance of bitcoin.

[sheamus10]

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

this really strange why Reserve Bank of India (RBI) ban bitcoin just for security reasons, I think this illogical. if they have not tried or use bitcoin how they can assess if the security of bitcoin it's not strong.

[lucifochrome]

First china, now india. Did the people who are into banning bitcoin in india not realized that they cannot ban bitcoin. Since they hold the position maybe in the government they have the power to ban it but guess what it is just going to be banned at that place. Should the bitcoin holder wanted to transact in bitcoin he or she can just simply fly out of the country or deal with bitcoins in different exchanges other than india. These people is not fully aware of what bitcoin is and what it is capable they just ban it just because they thought it was being used in illegal activities.