India and Russia ban Bitcoin

[freightjoe]

Following many smaller countries that have recently banned Bitcoin, we are now into the end game.

India is banning Bitcoin : https://economictimes.indiatimes.com/markets/stocks/news/war-on-bitcoin-govt-panel-seeks-crackdown-on-crypto-currency-dealers-in-india/articleshow/61450361.cms

Russia is banning Bitcoin : https://www.cnbc.com/2017/10/10/russian-central-bank-plans-to-ban-websites-that-offer-bitcoins.html

[Mr.cryptos]

It's no surprise governments wanna ban BTC, but BTC is unstoppable so far as people like it. If Russia ban websites retailing BTC, people will use tor browsers or find other ways of retailing it.

[Nerman]

Upon reading the news India is planning to regulate crypto and not actually banning bitcoin. Their headline is misleading.

The Russia new is actually scarier since they are not banning the actual bitcoin but they are planning to ban the websites that offer bitcoin.

It left more question, will they ban mining as well?
How about trading websites?

We may also see this happen with other countries in the following years.

[spracrypto]

may be sum day russia and indian government remove band from bitcoin. many indian and russian are earn bitcoin. many people trust and purchase bitcoin. bitcoin is top crypto currency in world. many new russian and indian people join bitcoin talk.

[Karpeles]

Upon reading the news India is planning to regulate crypto and not actually banning bitcoin. Their headline is misleading.

The Russia new is actually scarier since they are not banning the actual bitcoin but they are planning to ban the websites that offer bitcoin.

It left more question, will they ban mining as well?
How about trading websites?

We may also see this happen with other countries in the following years.

They block sites related to bitcoin and gambling since some years ago, it is nothing really new. People could still use VPN or tor to access them. Also India is going after the exchanges, if the piece of news is reliable, but won't ban bitcoin itself and there is no way to know if they will regulate it in the future.

[Captain_Planet]

Its a surprise to me for Russia banning bitcoins if its true because Russia was hosting miners of china and Korea. How come they even think of banning bitcoins then?
For India I cant say much but still banning it completely is a strange thing.

[avikz]

The previous and current Indian government has failed miserably to provide jobs and basic necessities to its citizens. So if they ban bitcoin a lot of young people will loose the opportunity to live a decent life and will be out looking for a job. It will further worsen the pathetic job scenario of India. Few years back, they tried to ban porn but faced a lot of heat from the community and finally revoked it. I hope they will face the similar kind of opposition if they try to ban bitcoin. "Aur nehi darkar, logo ko chutiya banane wala sarkar".

[Kakmakr]

I am not too worried about this, because people will just find ways to bypass these bans, if it happens. Look at China for instance, they clamped down on exchanges and the Chinese people just found other ways to trade with bitcoins. You can still move all your coins to another country or buy stuff from the internet in other countries.

You can also trade in person, if you find someone that has contacts with relatives that stays in other countries, where Bitcoin is legal. 

[f150]

Upon reading the news India is planning to regulate crypto and not actually banning bitcoin. Their headline is misleading.

The Russia new is actually scarier since they are not banning the actual bitcoin but they are planning to ban the websites that offer bitcoin.

It left more question, will they ban mining as well?
How about trading websites?

We may also see this happen with other countries in the following years.

They block sites related to bitcoin and gambling since some years ago, it is nothing really new. People could still use VPN or tor to access them. Also India is going after the exchanges, if the piece of news is reliable, but won't ban bitcoin itself and there is no way to know if they will regulate it in the future.

I agree with your opinion, even though they block sites related to bitcoin. Bitcoin users can still access and even transact through VPN network applications and there are still many network applications that can be used to open banned sites, what they expect from banning bitcoin and even bitcoin-related sites.

[inturist]

The more forbid the more people will want it. Government doesn't understand  the power of bitcoin and it is afraid of it.
To regulate it is necessary and not to forbid.

[Oliver A]

Following many smaller countries that have recently banned Bitcoin, we are now into the end game.

India is banning Bitcoin : https://economictimes.indiatimes.com/markets/stocks/news/war-on-bitcoin-govt-panel-seeks-crackdown-on-crypto-currency-dealers-in-india/articleshow/61450361.cms

Russia is banning Bitcoin : https://www.cnbc.com/2017/10/10/russian-central-bank-plans-to-ban-websites-that-offer-bitcoins.html

I don't understand why they are going to ban Bitcoin, in fact, they are trying to introduce the new cryptocurrency similar to Bitcoin
http://www.business-standard.com/article/economy-policy/govt-considering-its-own-cryptocurrency-117091600051_1.html

[SyGambler]

news like poped many times in the past , so don't panic till it actually happens cause there is nothing normal people can do
I'm kinda optimistic this won't happen , cause if they are planning to do that they would had done it a couple of years ago
there is no perfect way to ban crypto , so governments won't do untill they are sure that they can handle such a ban

[S.coastapps]

After the Ban of China so many countries decided to ban the BTC.

[NightWatchHKG]

There is a difference between regulation and banning

[cfkvfyjd]

I can not believe this, most likely this is not accurate information ..

[fiulpro]

In the whole article they talked about problem with dealing with cash and.. buying and selling of bitcoins that causes illegal activities.
Well it would be a very serious draw back if something like this happened.
But I do think on local exchange sites or international exchange sites you can still come forward to sell bitcoins
I mean you can easily transfer all your bitcoins in an international recognized Trustable wallet and sell according to you feel right.
They cannot ban one to one exchanges can they ?
Well I do think that if something like this happened people will come forward to find a solution and still stick with bitcoins.

[ColdZerk]

So slow... News are marked with date 10 OCT.
Every Country just want to regulate money, it`s not necessary to ban it. But how can you regulate money movements when people use Monero, etc?

[cfkvfyjd]

 Perhaps it's about taking control of the market crypto currency.

[A1exander]

This is old news. Russian government does not want to ban bitcoin, they would like to regulate, license and tax (this seems to be the ultimate goal) exchanges and miners. And, AFAIR, it was just an opinion of a government official, not a legislative proposal.

[sana54210]

So slow... News are marked with date 10 OCT.
Every Country just want to regulate money, it`s not necessary to ban it. But how can you regulate money movements when people use Monero, etc?

Yes, each of the government wants its national currency to regulate properly but due to the cryptocurrency it is hard to keep  track on each of the penny.

Most of the people's from India and Russia have started investing huge amounts in bitcoins and even the taxes are bypassed by storing their capital in bitcoins as bitcoins are a anonymous currency and are completely decentralized.

Each government wants its country to use the centralized currencies so that they can be applied with taxes for the betterment of the country but bitcoins here do completely opposite work. Perhaps implementing taxes on bitcoins will completely legalize bitcoins but will reduce the profits.