Indian Central Bank causes Largest Bitcoin Exchange Shutdown [Updated]

[kireinaha]

American idol for freedom and prosperity? Was that a joke?
Nothing against americans, but most of them don't even know what freedom is 
Holding a gun doesn't mean freedom.

The world watches American Idol for freedom and prosperity? I don't know about that. There are too many singing shows on television, if you ask me. I'd rather be free to watch something else.

[BitchicksHusband]

Central banks don't like Bitcoin? Oh man...

People letting any central bank influence them deserve everything they get.

+1,

Central banks are the root of all evil.

Look guys. Bitcoin is moving forward in America. As long as these other countries try to stop it, its only going to make the demand greater. The rest of the world still envies America and wants to have the American ideal for freedom and prosperity (whether you agree that exists or if its true doesn't matter, only perception matters). So if Bitcoin is killing it in America and other first world countries, then the rest of the world will want it even more.

Can you imagine the demand for Gold if it were banned in India and China? They would be dying to have it.

Prohibition does not work.

We don't have to imagine.  Gold is banned in India.  That's why they found 24 gold bars in an airplane bathroom worth $1.2m USD.  Some smuggler dumped it when he was afraid of being caught with it.

ITT: We learn why poor, crappy countries remain poor and crappy.  It's not an accident.

[F-bernanke]

[mb300sd]

Central banks don't like Bitcoin? Oh man...

People letting any central bank influence them deserve everything they get.

+1,

Central banks are the root of all evil.

Look guys. Bitcoin is moving forward in America. As long as these other countries try to stop it, its only going to make the demand greater. The rest of the world still envies America and wants to have the American ideal for freedom and prosperity (whether you agree that exists or if its true doesn't matter, only perception matters). So if Bitcoin is killing it in America and other first world countries, then the rest of the world will want it even more.

Can you imagine the demand for Gold if it were banned in India and China? They would be dying to have it.

Prohibition does not work.

We don't have to imagine.  Gold is banned in India.  That's why they found 24 gold bars in an airplane bathroom worth $1.2m USD.  Some smuggler dumped it when he was afraid of being caught with it.

ITT: We learn why poor, crappy countries remain poor and crappy.  It's not an accident.

Maybe he dumped it by accident, after hiding them up there...

[crazy_rabbit]

China and now India..

36% of the world's population effectively blocked from purchasing bitcoins legally in their countries.

India wasn't buying bitcoins anyway. They have a lot of catch-up to do before bitcoin is even something they need to worry about.

[btcprice]

Central banks don't like Bitcoin? Oh man...

People letting any central bank influence them deserve everything they get.

+1,

Central banks are the root of all evil.

Look guys. Bitcoin is moving forward in America. As long as these other countries try to stop it, its only going to make the demand greater. The rest of the world still envies America and wants to have the American ideal for freedom and prosperity (whether you agree that exists or if its true doesn't matter, only perception matters). So if Bitcoin is killing it in America and other first world countries, then the rest of the world will want it even more.

Can you imagine the demand for Gold if it were banned in India and China? They would be dying to have it.

Prohibition does not work.

It's already banned in India (gold imports):

http://www.zerohedge.com/news/2013-12-23/almost-every-passenger-flight-dubai-india-was-found-carrying-1-kilo-gold

Gold imports are NOT banned in India. The Indians were getting an influx of imports so they put a large tax on gold imports and limited the amount you could carry into the country to 1 KG.

[Zarathustra]

China and now India..

36% of the world's population effectively blocked from purchasing bitcoins legally in their countries.

India wasn't buying bitcoins anyway. They have a lot of catch-up to do before bitcoin is even something they need to worry about.

Since the state terrorists are trying to prohibit Bitcoin in India, the download ranking goes up.

http://sourceforge.net/projects/bitcoin/files/stats/map?dates=2013-12-21+to+2013-12-27

[GigaCoin]

Hey guys, looks like Indian Government is now RAIDING Bitcoin exchanges, LMAO:

http://www.coindesk.com/indian-authorities-swoop-buysellbitco/

[GigaCoin]

oh man, i need a time machine right now 

[F-bernanke]

I love the income/house price ratio, really fun all the debt creation...

[cr1776]

Central banks don't like Bitcoin? Oh man...

People letting any central bank influence them deserve everything they get.

+1,

Central banks are the root of all evil.

Look guys. Bitcoin is moving forward in America. As long as these other countries try to stop it, its only going to make the demand greater. The rest of the world still envies America and wants to have the American ideal for freedom and prosperity (whether you agree that exists or if its true doesn't matter, only perception matters). So if Bitcoin is killing it in America and other first world countries, then the rest of the world will want it even more.

Can you imagine the demand for Gold if it were banned in India and China? They would be dying to have it.

Prohibition does not work.

It's already banned in India (gold imports):

http://www.zerohedge.com/news/2013-12-23/almost-every-passenger-flight-dubai-india-was-found-carrying-1-kilo-gold

Gold imports are NOT banned in India. The Indians were getting an influx of imports so they put a large tax on gold imports and limited the amount you could carry into the country to 1 KG.

Gold imports are not free in India might be a better phrasing.

[ajax3592]

Hey guys, looks like Indian Government is now RAIDING Bitcoin exchanges, LMAO:

http://www.coindesk.com/indian-authorities-swoop-buysellbitco/

Fuck! that was the only exchange we had.

Looks like finally I'll have to wire my fiat to foreign exchanges  

Fuck you RBI

[stompix]

China and now India..

36% of the world's population effectively blocked from purchasing bitcoins legally in their countries.

Numbers means nothing It's the purchasing power behind the poeple.
If the price of bread will double next year will see millions starving in china and india. In the us or eu? Probably buying a 107 not 108"  tv.

[sumantso]

ITT: We learn why poor, crappy countries remain poor and crappy.  It's not an accident.

Wow, the hurt is strong in this one.

This is the same guy who had in a separate India thread was enthusiastic about India fuelling BTC rise based on 3-4 points, none of which was based on reality.

[ajax3592]

ITT: We learn why poor, crappy countries remain poor and crappy.  It's not an accident.

Wow, the hurt is strong in this one.

This is the same guy who had in a separate India thread was enthusiastic about India fuelling BTC rise based on 3-4 points, none of which was based on reality.

+1

I remember that

[GigaCoin]

China and now India..

36% of the world's population effectively blocked from purchasing bitcoins legally in their countries.

Numbers means nothing It's the purchasing power behind the poeple.
If the price of bread will double next year will see millions starving in china and india. In the us or eu? Probably buying a 107 not 108"  tv.

People all over the world are barely living paycheck to paycheck, living in tiny homes due to high housing cost even in western nations, food price increases have caused RECORD poverty in western nations. Its no more a case of Americans are rich, Indians and Chinese are poor. This fact is constantly ignored, everyone is having a hard time.

Higher price of food and cost of living will cause more difficulty for everyone in us and eu (not just india and china ) and lower the already low standard of living. No one will be rushing to buy 108" tvs.

[phoenix1]

ITT: We learn why poor, crappy countries remain poor and crappy.  It's not an accident.

Wow, the hurt is strong in this one.

This is the same guy who had in a separate India thread was enthusiastic about India fuelling BTC rise based on 3-4 points, none of which was based on reality.

+1

I remember that

Well, he has obviously never been to India
Anyone that has would know they are soooo far from widespread BTC adoption its ridiculous

You know what gets me most ... greedy people hoping that poverty stricken countries will make them wealthy

[stompix]

China and now India..

36% of the world's population effectively blocked from purchasing bitcoins legally in their countries.

Numbers means nothing It's the purchasing power behind the poeple.
If the price of bread will double next year will see millions starving in china and india. In the us or eu? Probably buying a 107 not 108"  tv.

People all over the world are barely living paycheck to paycheck, living in tiny homes due to high housing cost even in western nations, food price increases have caused RECORD poverty in western nations. Its no more a case of Americans are rich, Indians and Chinese are poor. This fact is constantly ignored, everyone is having a hard time.

Higher price of food and cost of living will cause more difficulty for everyone in us and eu (not just india and china ) and lower the already low standard of living. No one will be rushing to buy 108" tvs.

Yeah , the same is happening in my country , people are supposed to be poorer by the month but yet , with more than 30 hypermarkets in a 2 million city you can barely walk in any of them, and is you don't see a tv in a cart every minute these days you must change your prescription.

Lets not even talk about shopping in the malls as I couldn't even find a parking spot yesterday.

You can't compare what an European thinks is poverty with what a somali thinks of it.

Ps. and I live in a country with 500/month average wage.

[ElectricMucus]

Update: Indian government is now RAIDING Bitcoin exchanges

http://www.coindesk.com/indian-authorities-swoop-buysellbitco/

OWNED

[GigaCoin]

China and now India..

36% of the world's population effectively blocked from purchasing bitcoins legally in their countries.

Numbers means nothing It's the purchasing power behind the poeple.
If the price of bread will double next year will see millions starving in china and india. In the us or eu? Probably buying a 107 not 108"  tv.

People all over the world are barely living paycheck to paycheck, living in tiny homes due to high housing cost even in western nations, food price increases have caused RECORD poverty in western nations. Its no more a case of Americans are rich, Indians and Chinese are poor. This fact is constantly ignored, everyone is having a hard time.

Higher price of food and cost of living will cause more difficulty for everyone in us and eu (not just india and china ) and lower the already low standard of living. No one will be rushing to buy 108" tvs.

Yeah , the same is happening in my country , people are supposed to be poorer by the month but yet , with more than 30 hypermarkets in a 2 million city you can barely walk in any of them, and is you don't see a tv in a cart every minute these days you must change your prescription.

Lets not even talk about shopping in the malls as I couldn't even find a parking spot yesterday.

You can't compare what an European thinks is poverty with what a somali thinks of it.

Ps. and I live in a country with 500/month average wage.

India and China are not Somalia lol, i've been to both places and if you go to any hypermarket it's the same scene ppl have tvs and electronics in their carts. China has even better infrastructure that most western nations. Remember these tv purchases are mainly based on debt (cc, monthly installments, etc). They also have massive malls in every corner of the city.

What i'm trying to say is that it's easy to imagine US and EU populations enjoying high quality of life with good incomes and able to absorb endless cost of living rises, when it's really not that different compared to many other "developing" nations anymore.