India may ban bitcoin in 2018

[lucifochrome]

Do you have a link to this news you are talking about? If there is none then this is not yet a news. It can be classified as rumors or just speculation. India can ban bitcoin just in their country. It won't be able to ban bitcoin in general. China tried to ban bitcoin but look at what happened, ends up regulating it. There is nothing wrong with bitcoin, government may say that bitcoin is used for illegal activities well so as the traditional currency. Point is, it is not possible to ban bitcoin or it may be possible but that is to ban internet usage on the country.

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[Rishabh riyz]

India is still under a developing phase , the majority of people don't even know about bitcoins , only 15% or even less of the population knows about this crypto currency.
So bitcoins is neither legal nor illegal in the country, about 38% of the population uses digital currency transactions in form of paytm.
The government is promoting digital transaction vie paytm in the country so why would they ban other digital currency.

[Pamadar]

What news are you talking about? Sounds like pure speculation.

There was a news article i was reading in which Indian government is not sure about what they will do with the crypto currency in future
Well there is no official statement about this, but may be this will happen in future.
https://qz.com/1121363/no-bitcoins-for-payments-and-settlements-says-the-reserve-bank-of-india/

I'm just thinking that India making such statement to forbid payments and settlements using bitcoin because they simply can't regulate it and it's not an official currency in their country either.
It does make sense if they ban the "usage" of bitcoin but not if it's for saving or investing purpose. Just a country trying to keep its economy.

That's what each countries wanted to happen they just like to suppress bitcoin as they can't go and provide taxes so the best way is ban it temporarily until they settle an agreement that users inside that country will allow the government to facilitate some rules and implement taxes in every transactions that they have.

[Zabercoin]

India is advanced country, I think they figure out what to do with crypto in the future.

[Aryanto28]

According to the news, I know that the Indian government is very concerned about the presence of bitcoin in India, even in Indian states have been told by bolliwood celebrities there. After the bitcoin.co.id announcement about the disbursement of bitcoin cash, the Indian Government did not receive bitcoin cash. I also do not understand what the reason. So that no government approval in India is not a bitcoin but a bitcoin cash.

[longminh123]

No one can block Bitcoin at this time because all transactions are anonymous and there is no way to deal with large numbers of Bitcoin users. I think in the future all countries will develop Bitcoin, if India prohibits Bitcoin, that country is going against the market trend.

[spiritglove]

Ha, Ha, HA that is a funny one HOW do they propose to Ban Bitcoin. It has no "PHYSICAL" existence It will be impossible for them to ban Bitcoin. Sniff it out with dogs, lol  JOKE even if they do pass some sort of legislation it WILL NOT WORK. New York State has tried to ban Bitcoin, LOL that is another failing political policy from the Tyrants in the "NANNY STATE" Can't do it LOL Good Luck. LOL

[mobilazy]

They banned fiat money year ago, 1000 and 500 bills. It mostly failed. With BTC it will be much more difficult, I think this attempt will fail again.

[z38630610]

There is a news that may be India will ban bitcoin in 2018. Make your guess will India really ban it or not?
News article link
https://qz.com/1121363/no-bitcoins-for-payments-and-settlements-says-the-reserve-bank-of-india/

Banning bitcoin is a little bit hard because there are many methods which people could invest with bitcoin. Especially people in India can find many ways. Because India's economy has huge potential for bitcoin.

[Maestro75]

There is a news that may be India will ban bitcoin in 2018. Make your guess will India really ban it or not?
News article link
https://qz.com/1121363/no-bitcoins-for-payments-and-settlements-says-the-reserve-bank-of-india/

India may have a large population but she is not an economy to be reckoned with like China. So, India banning Bitcoin or not is really not an issue for the crypto society. In fact, she should borrow a leaf from China and know that Bitcoin is too domineering to be controlled by a few individuals. We have passed that era of threats so cheap as this, whether it be true or not.

[stompix]

Ok, let's have some timelapse fun with bitcoin and India

Bitcoin is Legal in India, What about your country? Check here.
September 07, 2016
https://bitcointalk.org/index.php?topic=1610230.0

Now bitcoin is illegal in India ?
April 01, 2017
https://bitcointalk.org/index.php?topic=1850527.0

India may ban Bitcoin
August 04, 2017
https://bitcointalk.org/index.php?topic=2064781.0

Suddenly, Bitcoin to Be Officially Legal in India
June 21, 2017
https://bitcointalk.org/index.php?topic=1978550.0
   
Bitcoin finally legal in India
July 15, 2017
https://bitcointalk.org/index.php?topic=2021761.0

Bitcoins cannot be legal in India.
November 02, 2017
https://bitcointalk.org/index.php?topic=1941859.60
   
So we don't need China anymore.
We have INDIA!!!!!

Let's start 1000 threads debating something that will be proven wrong the next week by anther 100 threads.
Who cares what India and the Indian government does?
Influence 0.001.

New York State has tried to ban Bitcoin, LOL that is another failing political policy from the Tyrants in the "NANNY STATE" Can't do it LOL Good Luck. LOL

Stop with the FUD.
NY was the first state to recognize and lay down the legal framework for bitcoin exchanges.

[dhka]

To me it means india government bans bitcoin as a transaction currency replacing its own national currency, that doesnt mean the government bans bitcoin

The same applies in indonesia

[jc89]

Just like any other governments the main concern here is really the loss of control. They will lose a lot in taxes if people fully relied on btc when they are transacting. But if they will really totally ban btc for good that's for them to decide. I don't think it will hurt the community that much. We all remember what happened during the controversial China's pull out but that lasted for less than a month and then we moved on. Not that I'm comparing them to China, but yes I just did. So there's nothing to worry for now until India isn't officially banning btc.

[Scorpion]

A country like India with such a large population cannot just ban Bitcoin it would be too hard to enforce. This is just what they say when  they wish to regulate and start taxing Bitcoin. Eventually it will be a widespread thing in India.

[djimbim0]

To me it means india government bans bitcoin as a transaction currency replacing its own national currency, that doesnt mean the government bans bitcoin

The same applies in indonesia

And I do not understand why the government of India does this. After all, the blockchain technology is very promising. This could give additional income for the people of India

[yfyjgtgui]

We can not say exactly,according to my view it is impossible,indians are encouraging the digital transactions,and india is developing country most of the people are using the bitcoin.now it is legal and number of users like the bitcoin.we will see what will happen in 2018.

[senne]

Such news can only be expected from under developed countries like India. Previously countries like Bangladesh imposed a ban on Bitcoin and it clearly shows that these under devolved countries want to remain poor and want no improvement in the future. If countries like Japan, Australia and more have legalized Bitcoin it clearly states that these developed countries noticed the potential of Bitcoin. Just an advice to countries like India remove your blindfold and see the power of crypto currencies.

[landrizok]

India well developing country,and number of people using the bitcoin for their transactions.indian banks transaction fees very higher than bitcoin.india will change the opinion,it will never happen.indian government can not take this type of decision.

[Noilee]

I guess that's not true. maybe you just heard fake news. I've heard that India once made bitcoin legal in that country. but I do not know. I think it would be a big loss if a country makes bitcoin illegal, because it could make the income of its people less. and an increasing number of poverty.

I agree its not true its a rumor only, in my opinion its impossible to happen that India ban bitcoin on their country. Because people they depend on bitcoin because there are many problems faces in their country the biggest problem is the poverty, so how could it do this in their country that the India government ban bitcoin. There are large numbers of people invest in bitcoin. So they would not ban bitcoin, they sake for the good of their country and for the people.

[staradvincula]

There is a news that may be India will ban bitcoin in 2018. Make your guess will India really ban it or not?
News article link
https://qz.com/1121363/no-bitcoins-for-payments-and-settlements-says-the-reserve-bank-of-india/

The Indian government was adviced to stop the operation for the entire crytocurrency trading in India. Hesham Rehman, CEO and co-founder of Bitxoxo said that instead of shutting down the cryptocurrency dealers, the government should take actions in holding back buying and selling of bitcoin in cash.  The government also considered the possibility of making their own currency named "Lakshmi" to be introduce someday.  Which means that their be no bitcoin ban in India yet.