India and Russia ban Bitcoin

[Visbay]

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.

Yes, but be sure, that Putin and main core of russian oligarchs know about bitcoin and other crypto, and they a buying cryptos in terribly huge volumes. That's for usual people they are not confident how to do with BTC.

Well about India I’m sure that it’s not banned in India because I have a lot of friends from Indian and I’m doing chat with them every day and they are using bitcoin on daily base because India need bitcoin and Indian high court order to regulate bitcoin because still in many parts of India there is a poverty and bitcoin is going to change a life of them and Russia is a different thing because bitcoin don’t care about any banned around the world.

[bitkanu]

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.

Yes, but be sure, that Putin and main core of russian oligarchs know about bitcoin and other crypto, and they a buying cryptos in terribly huge volumes. That's for usual people they are not confident how to do with BTC.

Well about India I’m sure that it’s not banned in India because I have a lot of friends from Indian and I’m doing chat with them every day and they are using bitcoin on daily base because India need bitcoin and Indian high court order to regulate bitcoin because still in many parts of India there is a poverty and bitcoin is going to change a life of them and Russia is a different thing because bitcoin don’t care about any banned around the world.

By officially announcing that the government have an act against bitcoin doesn't mean all those people there stopped using bitcoin, they will still use it but secretly, bitcoin is decentralized, even if your government have full control over your internet connection, you can still access bitcoin and they can do nothing.
These regulation itself I'm pretty sure only punish dealers there that already offering crypto services only.

[pikebu]

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.

Yes the government are always trying to ban the bitcoin it is not just India and Russia but also the united state of America.
 The U.S. government is very aware of cryptocurrencies and the rise of bitcoin. This week American authorities from multiple agencies such as the IRS, the Federal Reserve, and President Trump’s press secretary all explained they are monitoring cryptocurrencies and bitcoin’s recent popularity. But i am not sure the government they can stop the bitcoin because it is decentralize, so stay be relax it will not kill the bitcoin.

[St4yInTh3D4rk]

Recently a Indian minister commented upon Bitcoin, that still its not a legal tender, the government still haven't decided whether to impose a ban or make it legal. So still there is no confirmed news of its ban on cryptocurrencies.
Russia is also not banning in real, they most probably will impose restrictions on exchanges or dealers.

Yeah,as you said they not yet banned bitcoin in India because I can see the bitcoin tradings happening on localbitcoin.com in India.And Indian traders giving more price than the actual price of bitcoin so many people selling their bitcoins to indian traders so still bitcoin is leagal in India.

[jamesdean35]

i think its temporary

[vinc3]

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

Let them banned bitcoin all they want for they are not the one who will decide if their citizens are going to use it but they themselves (citizens). We saw major countries like US and China not supporting the same said currency but what it  did to the price of bitcoin???-- it made people wanting it more for they know that this thing can change thier future and not their government, who is just there tonshow off and not act to the important matters that their people really needs. We hopethis ban won't be permanent for more russian and indian brothers and sisters will be bless with the oppurtunity that bitcoin has.

[tuniscu]

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

These are articles about the banned bitcoin and almost every week I see them. More and more countries banning bitcoin and banning it.

[btcjoin14]

It just can't be the truth about Russian BTC ban cos there's the law to be prepared for summer 18. It's kinda old information over there. Peace.

If they decide to ban Bitcoin then there will be a small impact on the price of Bitcoin though it won't affect it by much.

[KEPLER99]

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

Even I do believe that doing so is highly impossible because much of the people's have invested a huge amount in bitcoins and also several such news were been heard in the past but gave us nothing just some price dump. Perhaps several major investors purposely spread such news to dump bitcoins to some extend and then purchase bitcoins at the dip giving them huge profits.

Similar has been observed in the past when china spread the news about banning the ICO. Bitcoins experienced some major price dump that time and even gave many people's opportunities to buy bitcoins at dip.