India and Russia ban Bitcoin

[BCTS]

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

Why refer to the news of 10 October? Russia several times changed his mind, now they are not against. What about India, I don't know.. don't interesting..

[barabut]

Nowadays we start monitoring so many negative news about bitcoin. Will those make the bitcoin stoppable I am not sure but at least help to push the price level down.

[Valentina N]

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.

Hello I am totally agree with you it's. Its unstoppable phenomenon and people are addicted from money so it human nature will hack every border to having pleasure no matter about what we are talking it no  matter about bitcoin or another pleasure)

[freecastle]

not surprising given that no government controls bitcoin.

[TudorOzy]

Regarding Russia, it seems that they are changing their mind often, we have seen the communications minister of Russia saying that crypto currencies will never be legalized, but sources saying that until July 2018 regulations regarding crypto will be in place.
And now they seem to have CryptoRuble in plans for official crypto currency.

[brontosaurus]

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

Well I am from India and let me make it very clear that bitcoin isn't illegal in India. Indian govt. is still trying to propose any concrete law over bitcoins but hasn't been able to come up with any such legal provision in this behalf. This article was just about a news where in the supreme court of India has asked the government to draft law regarding it as soon as possible nothing more than that.

[GoldenOrder]

I just want to warn readers to be careful with this forum member "freightjoe" (the one who opened this topic). Freightjoe has only posted negative posts about bitcoins since he registered. All his posts are against bitcoin, and all he does is propagate FUD. So be careful about his topics and posts.

[Nowherman]

Even if governments ban bitcoin, no one will be able to prohibit people from mining BTC on their computers,
or to use them in their life. This is simply unrealistic in information digital age. In any case, time will show that the best option is to legalize bitcoin.

[Psyloc9302003]

government may say that they are banning btc but they cannot actually ban it..its up to a group or institution if they will accept btc or not..if they do..government cannot do anything..especially in the electronic world..

[streazight]

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

China was going to ban the ICO and not bitcoins. Also for now, china is not banning ICO and even banning bitcoins is not that easy. Banning bitcoins will cause a lot of disturbance globally which will highly affect the price of bitcoins. Bitcoins are made much more profitable but such news about banning bitcoins, make bitcoins go cheaper. Mostly these news are not trustworthy and can be simply ignored unlesss we have some official news. Until that we can continue having good profits in bitcoins.

[KevinHD]

Seriously? Maybe they are just scared of what can Bitcoin affect their own currency and economy. Yet, i still believe that bitcoin would be impossible to stop because of how wide the internet is. i'm hoping it wouldn't be banned in my country.

[hacker1001101001]

This is still rumors, I have not seen any reliable sources about this news. It also does not have because both countries ban the currency but I will wait to see the news of the next days, hence we will see if this today will confirm or was just a lie.

[Nold]

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

I'm from Russia. And I see no obstacles to earn bitcoin. And next year the bitcoin in Russia will be legalized.

[TTITA]

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

China was going to ban the ICO and not bitcoins. Also for now, china is not banning ICO and even banning bitcoins is not that easy. Banning bitcoins will cause a lot of disturbance globally which will highly affect the price of bitcoins. Bitcoins are made much more profitable but such news about banning bitcoins, make bitcoins go cheaper. Mostly these news are not trustworthy and can be simply ignored unlesss we have some official news. Until that we can continue having good profits in bitcoins.

i think banning bitcoins in some countries didn't really affect to market volume and price of Bitcoins itself. Because, basically the volatile bitcoins price is dependent on supply - demand. More demand will affect in rising price, while less demand but supply (from the exchange of bitcoins to cash or altcoins) increasing, will happen price bitcoins fall. Nothing more.

[InnMind.com]

These articles report about the two governments contemplating the idea of blocking existing websites that provide direct access to Bitcoin. The plan to really ban a financial instrument with such a huge market capitalization is not obvious.
By the way, is it realistic? Although there is nothing that can stop a government or central bank from banning Bitcoin (& a few have already done so), most would not go that far for two reasons:
- The Streisand effect
- A ban on Bitcoin is difficult to enforce.
You can read more here: http://btcexchangemarkets.com/can-any-government-ban-bitcoin

[trjm79]

let forbid-people will find how to bypass prohibitions, and change coins to the unchallenged currency of the state

[Aeneas]

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.c[Suspicious link removed]m/2017/10/10/russian-central-bank-plans-to-ban-websites-that-offer-bitcoins.html

Russia changes her mind time to time and do it oppositely

[darkangel11]

Russia changes her mind time to time and do it oppositely

That's because they don't really know what they want to do with cryptocurrencies. First we had news about Putin being interested in ETH, then we had news about their government controlled cryptocurrency and now there are voices saying they should ban it all. People have frequently quoted this well known phrase ending with "and then you win". It seems we're still in the "they fight you" phase.

a government panel is said to have advised closing cryptocurrency dealers in India
This doesn't mean anything. They can keep advising it as long as they please. You need legislation for it to be legit.

[anthinguy21]

Not only India and Russia wanna ban Bitcoin, there are a lot of countries wanna do the same but it's not easy to control Bitcoin to ban it ). But I don't really care about it if they are some developing or small country. But it'll be different if it's Japan, in which Bitcoin was born, or US.

[HasHe]

That would not have any impact on bitcoin's price.I would say that the indian government is totally confused on deciding about bitcoin.More over,they are in an idea to release their own cryptocoin named Lakshmi.

Even if Russia and India ban bitcoin,people would use the same technique which chinese used.They would just shift trade to counter sales.They would just sell and buy bitcoins P2P.They might use just telegram chats for trade which are well encrypted.

So,whatever means they would use to ban bitcoin,it could not be stopped and at last,they would have to compromise by regulating bitcoin.