How to deal with India and countries that ban Crypto currencies

[cvetkova]

You cannot do much about these countries banning bitcoins. I always thought that there was huge scope for bitcoins in India and one Indian government has now ruined all hopes of people there.

[stompix]

What if the government don't want to change the law if bitcoin is banned in future.People from India never involve in crypto currency trading is that you are saying?

No, you change the government.
When there are more people that don't vote than the ones that voted for the so called winner you have a problem.

And lot of Indian people are only doing trading crypto currency trading as their profession so what will be their future if bitcoin will be banned in India?

You change profession if it's illegal, simple as that.

They surely will find loopholes from somewhere,

And in this case you're not better than the corrupt officials you blame for everything, they also use loopholes.

For instance if someone is doing 10 trades per day,he surely can continue trading by having ten different account in 10 different banks and I hope India have more banks with them.
And I don't know people were arrested or not for crypto trading India?

I'll ask you and the others in this thread.
How many bank transfers you usually make in a year? Those not related to crypto?
How many bank accounts do you think the average person has in India?
Trust me, it's so damn easy to find out who deals with shady stuff, the only thing that protects and will probably protect you is that they are going to be to lazy to go after you.


And back to Zebpay...
196   Zebpay   BTC/INR   $3,049,180   $6,469.43   0.08%   Recently
Apart from the tiny volume, what's with the price?
500$ spread?

[GoldenLad]

I always believe that even though a government of a country banned bitcoin or any cryptocurrency, the citizen whom are interested in bitcoin can still invest in cryptocurrency without the government knowing. So far they are not involving in illegal money activates but trading or holding like every other investors then they can invest in cryptocurrency without objection from their government. Technology is now making things easier.

[cryptoking330]

Stop amplifying things, The real news is Your bank will not allow you to buy bitcoins anymore
It is planned by governments to try to regulate the Bitcoin and at least limit the entry of large capital funds.
For you, this regulation will not affect you very much unless you intend to invest in large amounts(more than 10 Bitcoins).
you can use some temporary solutions:

• online sellers: localbitcoins, paxful
• online forums: Currency exchange

So we can use bank accounts for buying less that 10BTC?

But even governments trying to control the bitcoin trading it is impossible to stop it completely and in country like India no way,surely crypto trades will happen even if the government ban it.And no one can find us though because it has 132 Million population so we don't get caught in that crowd.

Don't you mean 1.324 Billion!? That will make it even more difficult for the Indian government to find out who is trading BTC under their noses!

Yes it is difficult for the country like India to track each and every people of the country and what they are doing,India is not like China,China is one of the well developed country in terms of technology.But India is still developing nation and they have lot of issues other than crypto currencies in their country.So chances are very less to get caught in India even if you are using bitcoin.

Yeah I see what you mean unless the IRB make it into a big problem, unfortunately when money is involved small issues get blown out of proportion.

[pitiflin]

Mate, bitcoin is apparently not banned in India. I happened to mention this in a previous post today, and I'll leave the link of the article so that you can also read it: https://www.newsbtc.com/2018/04/07/no-india-not-banned-bitcoin-trading-government-confirms/
They have said that banks cannot deal with crypto exchanges/any crypto user and whatever transactions are due, it should be cleared otherwise the non-compliant banks may face some issues.

[GreatOrchid]

Just ignore them. We all know that no one can stop crypto world cause no one control it. People will always find a way to play with it, so they are just spreading "fud".
How many times China banned bitcoin? Do you remember?

The real truth is that no one cares about what can India do to cryptocurrencies, because they can not drop the price. Most people from india does not even know what cryptocurrencies are because they do not have enough funds to buy, or to sell them.

I wouldnt care about this  too much