Should Bitcoin be banned in India?

[Chandan01998]

Should Bitcoin be banned in India?


If there  ban to the Bitcoin in India, what would be the future of India?

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[apoorvlathey]

Should Bitcoin be banned in India?


If there  ban to the Bitcoin in India, what would be the future of India?

Absolutely Not !
Why do you even come up such kinds of questions ? Bitcoin is not doing any harm to our society, in fact very small percentage of the total population is even involved in crypto. By the way, it is impossible for the government to ban bitcoin, they may restrict users from buying crypto from banks or make bitcoin related sites inaccessible but there is no way that they could ban the bitcoin blockchain network. Even if they did block the websites, users would still find a way to access them using vpn or other options.

[venky15921]

Nope! It is actually a bad question . Just think have you ever seen a transaction between 2 people with more than 10 bitcoin ? Could you even guess who they might be ? No . This is because the parties are unknown and it is almost impossible to find them out . When people know that government can't find them why would they stop using bitcoins . Infact if people from India stop using bitcoins bitcoins value will be around $3000 - $5000 .

[Nik007]

Bitcoin shouldn't be banned

[ARJUNBHARATH]

No.
Since India is an developing Country many youngsters are interested in online marketing and most of them are doing Bounty programs in Bitcointalk. Hence if it was banned in India then it will create a huge impact on the persons who worked on it and it makes them feel bad since they have worked on it but they wont taste the fruit finally.

[knoxshaan]

No, BitCoin can not be banned as its not owned by any government.

[Dpat]

There is no question of ban in terms of Bitcoin because Bitcoin itself is tiny Govt. and works in a decentralized manner and peoples are the true creator and user but can't destroy. This is up to you that you use it or not? There is no discussion about the Govt. that it adopt in it's county or not?

[darkie199]

Nope! From my point of view the answer is "NO"! In India where nowadays the need of ID Proofs are getting so much mandatory to do any online purchase whereas in many other countries with minimal efforts others are allowed to make any purchase easily. Tax on everything, hidden fees, scam rates are getting higher, bitcoins provide the utmost freedom. No intermediaries in between. No bank holidays/strikes. No boundaries or borders. No payment limit.Yeah it's true that in Indian still the direct use of Bitcoin to purchase goods online is not available and Indian Government said that purchasing of Bitcoins from Bank Accounts will get the user banned (rumor | overheard). -_-

[1NV3ST0NM3]

No, not at all. We ban something which is harmful for the society or community as a whole. But Bitcoin does no harm to our society; rather it is giving us many advantages of less- cost, speedy transactions, transparency, etc.  And remember, no government can ban Bitcoin as it is a decentralized concept. Although it can restricts its usage, which the government is already doing, but it cannot ban. Moreover govt is picking up the wrong approach its banning exchanges which actually pays them taxes and banning the private keys is just impossible which is the actual reason of money laundering.

[kimochidesh]

Should Bitcoin be banned in India?


If there  ban to the Bitcoin in India, what would be the future of India?

I don't think Bitcoin is harmful to the society. It provides us an opportunity to have the speedy transaction with transparency. Being decentralized, there is no regulation/restricts on it. So govt can't really ban it, they might try to regulate it in some way or another but govt. seems to helpless at this point of time so they just try to create a negative hype against it.

[Clement Kaliyar]

they may restrict users from buying crypto from banks or make bitcoin related sites inaccessible but there is no way that they could ban the bitcoin blockchain network. Even if they did block the websites, users would still find a way to access them using vpn or other options.

The way in which they are trying to restrict the crypto currency boom is to restrict the banking system to do business with the exchanges, there is no ban for bitcoin and they wont be able to ban it, but they will make things harder for the user and that is what they are planning to do and users have to find alternatives to deal with the situation.

[deepakg2m]

Obviously no, it shouldn't. India being a developing country need to understand the importance of online transactions .Also nowadays India is on the way to become cashless so i do not think that there is any other suitable way for this . BITCOIN is the best and the safest means to complete this dream of Indian Government.

[RameshSekar111]

You have to be new to the crypto world.
Bitcoin is not owned by any government and transfer through internet. So practically no government can ban bitcoin unless we don't value them.

[RAMSHIVDEEPAK]

I do not want comment to ban bitcoin in INDIA.But INDIA should create own cryptocurrency.Because this technology might be the future of the world.IT WILL  BE BENEFITED FOR COUNTRY IN FUTURE.

[sauravkumar316]

i really dont think so bitcoin should be banned , and ofcourse i am reading everybodies commnts, they cant actually ban bitcoin or any other crypto , blockchain technology its really unique and ground breaking , india should embrace this tech. lots of india's issue can be solved by using this tech. 

[onrise]

I do not want comment to ban bitcoin in INDIA.But INDIA should create own cryptocurrency.Because this technology might be the future of the world.IT WILL  BE BENEFITED FOR COUNTRY IN FUTURE.

I think India is looking to have its own crypto currency as per the last rbi release where they want to make the best benefit of the available technology but where they have full control of the coin which they will issue and know exactly the status of everything .

[zcbook]

i don't think it is going to ban,, since may of big celebs and personalities are using it. whereas, it is very much required to safeguard the policies for cryptos, as india is a big country, and there must be a good policies for it. however due to the functionality of crypto it is very hard for government to introduce a clean policy. hence they are forced to ban the transactions in the banks. and i feel they are going to bring a simple format to trade cryptoassets in india. this can be like demat account is used to trade shares,, similarly,, saperate cyptotrading account might be required to trade. this is just my opinion. story can be totally different however.

[lordquanta]

Bitcoin trade has already been banned in the India, Check following link:
https://economictimes.indiatimes.com/wealth/personal-finance-news/your-bank-will-not-allow-you-to-buy-bitcoins-anymore/articleshow/63627123.cms

RBI has directed banks and other e-wallets not facilitate crypto related transactions. Now onward it is not possible to use any bank or e-wallet to purchase or sell your bitcoins or alt-crypto using bank/e-wallets.
RIP crypto

[Soundharthulasi]

In india not aware of crypto currency and block chain ....but now usage of bitcoin in all over the world is going big and huge ....futhur india govt not going to ban the bitcoin

[cryptosluck]

No bitcoin cant be banned in india they will form a regulation very soon we can see good news very soon