Should Bitcoin be banned in India?

[Marcus.rubby]

RBI has banned cryptocurrency in India and has instructed banks to stop providing services to entities dealing in cryptocurrency. Moreover, RBI intends to launch its own version of centralized digital Indian Rupee based on the blockchain. The government cannot regulate decentralized cryptocurrencies and has come up with this idea to cope up with the ban.

One cannot deny the fact that the Indian population is also lured towards investing in cryptocurrencies. The ban might not be able to stop cryptocurrency dealing completely but in fact, create a huge underground market and increase over the counter dealing of cryptocurrency.

In the future, the government might think of bringing cryptocurrencies under regulation through licensing. So it's entirely up to one to hold their cryptocurrency or to sell it for the profits they can realize at the moment.

Primarily Bitcoin among all the cryptocurrencies was introduced as a solution against the current problems the established economy faces, such as inflation, scalability, income gap etc.

So to think in a way, it’s a currency of anti-establishment and in a sense, challenges the government-backed currencies. And if we think in these lines, it's not a surprise that governments around the world including India are answering the rise of cryptocurrency by imposing bans.

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[technosaviour]

Bitcoin by design can't be banned.

There are multiple ways to create crypto, each and every one of them can be converted to Bitcoin.
I think the proper question is that

Should Bitcoin be made illegal in India ?

My Answer : Why would you ever think like that, unless we want to go back to stone age. Bitcoin & Blockchain are the next most powerful innovation of the century. India banning Biitcoin and other crypto means, people losing interest in the technology itself. While the entire world will be busy gathering crypto we will be busy making blockchain project for foreign companies they by KILLING out native IT growth as product based companies.

[JSRAW]

Bhai, Plastic ke Keede pade unn logo mein jo Bitcoin ban karne ka soche bhi India mein

[Veerashanka]

Should Bitcoin be banned in India?


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

Value of Bitcoins will definitely drop if Bitcoin is banned in India. Bitcoin may be used by many Politicians in India for Storing illegal Black Money and I have faith in those Politicians , so Bitcoin is not gonna get banned in India.

[Elli022]

No crypto will be not bann in India, firstly it is not run by any govt. authority secondly it us the future of digital currency so it will not ban, till now it is not legal but it id also not illegal...

[Titurnight]

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

[Ayush rana]

If there is bitcoin banned in India than it will effect the adoption of cryptocurrency inside the country.  India may left behind from other countries in terms of blockchain technology implementation. You can take example of Switzerland which legalize crypto and we can see alot of investment and highest growth in term of blockchain revolution.
India is one of the IT top giant and if blockchain legalize in the country than it may attract new innovation for blockchain world.

[CoinFellow]

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.

Lok Sabha 03/08/18: "The Government has not issued any notice to Bitcoin lnvestors and there is no such proposal under consideration currently."

Only RBI wants to curb the use of Crypto as "Currency" as of now. Bitcoin or any other Crypto by its very nature cannot be 'banned'

[Maady]

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.

Lok Sabha 03/08/18: "The Government has not issued any notice to Bitcoin lnvestors and there is no such proposal under consideration currently."

Only RBI wants to curb the use of Crypto as "Currency" as of now. Bitcoin or any other Crypto by its very nature cannot be 'banned'

I don't expect anything special from the Government or Political elite in our country. all are busy with Vote bank policy - Mandir/Masjid.
Only Sane bureaucrats can put some sense in our political regime's heads.

[HardIndian]

I think bitcoin and other crypto is only for those who use it for what it meant to be, i strongly think before using bitcoin or any other crypto we indians should understand the real meaning of digital privacy ( crypto is the basics of our digital freedom), Indians are really not concerned about it.

FIRST LEARN ---- THEN IMPLEMENT

[kkgfhj123]

No, BTC or any other cryptocurrency must not be banned in India.

Last week I was just watch some TEDx talk on youtube and just came across this video: https://youtu.be/8fbhI1qVj0c Here in the talk it is explained how is blockchain technology and cryptocurrency useful to India.

How to buy/sell in India?