RBI ban Bitcoin?

[sunny7408]

RBI ban Bitcoin?

[infested]

Its a small market in crypto terms. Who cares?

[Thanasis]

Its a small market in crypto terms. Who cares?

What you mean by small market?India is one of the more populated country in the world holding 132 million people which is small?

But I don't know this is a true or false new,can anyone confirms that the news is true or not?

[pxo.011]

well india has one of the biggest population but we dont know if they have more people know about bitcoin.. well if it so the market will affect this news

[Tervelatuk]

hmm I'm waiting for another comment, what makes you think RBI block bitcoin? if there is any news, please be clear

[preshpr1nce]

Its a small market in crypto terms. Who cares?

What you mean by small market?India is one of the more populated country in the world holding 132 million people which is small?

But I don't know this is a true or false new,can anyone confirms that the news is true or not?

Size means nothing, also it's a lot more than 132 million...
Volume is everything.
India has rather small trade volume in crypto, to compare:
Australia, 24 million people = https://coin.dance/volume/localbitcoins/AUD/BTC
India, 1.324 billion people = https://coin.dance/volume/localbitcoins/INR/BTC

Even Nigeria has India well and beat = https://coin.dance/volume/localbitcoins/NGN/BTC

I wonder how we would react to that news
"Nigeria bans crypto currency"

[sunny7408]

Its a small market in crypto terms. Who cares?

Bro Indian is a huge crypto market remember it

[Kprawn]

Well, I do not know if this is just fake or FUD, but this was posted 4 hours ago :

https://www.bloombergquint.com/business/2018/04/05/rbi-bans-regulated-entities-from-dealing-with-virtual-currencies

and this 2 hours ago :

http://www.business-standard.com/article/finance/reserve-bank-of-india-considers-issuing-its-own-virtual-currency-118040500757_1.html

and

https://www.ndtv.com/business/bitcoin-ban-banks-given-3-months-to-stop-dealing-in-bitcoin-like-digital-tokens-latest-on-bitcoin-1833294

None, looks like reputable sources.  

*One of the countries that need it the most... f#$%#*

[collins3]

RBI ban Bitcoin?

India is a country with a large number of people interested in Bitcoin. Indian central bank warns Bitcoin users of possible risks. That does not mean that Bitcoin is prohibited or violated by the law . Notification of the Reserve Bank will not adversely affect Bitcoin or any other virtual company. Which can make people more interested in Bitcoin.
It is not easy for more than 200 countries to accept the presence of Bitcoin in their country. I believe Bitcoin will soon become an official currency all over the world.

[kazakova]

If this news comes to be true, it will have huge impact on the prices. The current trends in Indian exchanges show the same.

[Jossy111]

Though Indian is the most populated country country in the world and also in the world of internet and technology, but these does not determine the existence on bitcoin. As many other country are still and and still continue to patronize cryptocurrency.  

[YuginKadoya]

If that would happen I really think there are a number of percent on the community that are in india and they are really using bitcoin as payment, And Zebpay and Unocoin will have to shut down operations and might move their companies to some other countries, And if that happen RBI will issue guidelines on what may happen to all existing bitcoin and money transfer on Zebpay and Unocoin.

[apoorvlathey]

Well, I do not know if this is just fake or FUD, but this was posted 4 hours ago :

https://www.bloombergquint.com/business/2018/04/05/rbi-bans-regulated-entities-from-dealing-with-virtual-currencies

and this 2 hours ago :

http://www.business-standard.com/article/finance/reserve-bank-of-india-considers-issuing-its-own-virtual-currency-118040500757_1.html

and

https://www.ndtv.com/business/bitcoin-ban-banks-given-3-months-to-stop-dealing-in-bitcoin-like-digital-tokens-latest-on-bitcoin-1833294

None, looks like reputable sources.  

*One of the countries that need it the most... f#$%#*

The last link of NDTV is one of the reputable source of news in India.

It's so sad to see India to ban Bitcoin and other cryptocurrencies. I assume most indian crypto users would still be holding their coins . Lets see how everything turns out in this 3 months time-period. I know most users would be angry about the government's decision, in the past too people have expressed their concerns against government thinking to ban crypto.

[ahiaba.john@yahoo.com]

Yes RBI ban bitcoin is not a new news any longer because we have heard so many news like that in the past but bitcoin continue. Bitcoin have cross the stage of ban distractions and more country of the world would join and accept bitcoin as transaction medium.

[Xester]

RBI ban Bitcoin?

That is true and there are already articles published online about that sad news. The banks are no longer allowing citizens of India to buy bitcoins. The reason is absurd and we do not know if later they will shift their decision like China does. But as long as the people supports bitcoin then bitcoin will still be strong in India amidst these issues. But we cannot deny that there will be a major effect and a decrease of bitcoin holders when this happens.

[cryptohunter]

Its a small market in crypto terms. Who cares?

What you mean by small market?India is one of the more populated country in the world holding 132 million people which is small?

But I don't know this is a true or false new,can anyone confirms that the news is true or not?

I'm sure they have a lot more than 132 million people

although india is not grossly important to bitcoin since the vast majority there have very little money for investing.

[wellbastian]

Its a small market in crypto terms. Who cares?

Bro Indian is a huge crypto market remember it

Yeah I agree with you, i think india has huge crypto market. Currently, many ICO projects have arise up from Indians.

[ershovspa]

This is a very sad news. They want to ban bitcoins because it looks risky and then they want to launch their own coin. Where is the logic in this ?

[Pursuer]

Its a small market in crypto terms. Who cares?

Bro Indian is a huge crypto market remember it

true and also they never cared about the bans their government has been putting on bitcoin so far in the past couple of years and their volume and also the price they are paying to buy bitcoin has been a lot higher than the price that we are paying for bitcoin in USD and the volume is also lower.

[Thanasis]

Its a small market in crypto terms. Who cares?

What you mean by small market?India is one of the more populated country in the world holding 132 million people which is small?

But I don't know this is a true or false new,can anyone confirms that the news is true or not?

Size means nothing, also it's a lot more than 132 million...
Volume is everything.
India has rather small trade volume in crypto, to compare:
Australia, 24 million people = https://coin.dance/volume/localbitcoins/AUD/BTC
India, 1.324 billion people = https://coin.dance/volume/localbitcoins/INR/BTC

Even Nigeria has India well and beat = https://coin.dance/volume/localbitcoins/NGN/BTC

I wonder how we would react to that news
"Nigeria bans crypto currency"

How can you consider the volume between two countries by only comparing the Localbitcoin site.Is this the only site which involves bitcoin buying and selling...

I heard that one in ten transactions of bitcoin was happening in India.