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Author Topic: Future of Bitcoin in India  (Read 1703 times)
sudarshandutta
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June 04, 2018, 01:32:00 PM
 #1

What do you people think about the future of bitcoin or other cryptocurrencies in India under the current government policies? Shocked
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June 04, 2018, 02:23:16 PM
 #2

What do you people think about the future of bitcoin or other cryptocurrencies in India under the current government policies? Shocked

The good thing, India would benefit the value and exist of the bitcoin because it can gain more higher profit if the bitcoin will be implemented in india and other countries.
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June 04, 2018, 02:27:41 PM
 #3

What do you people think about the future of bitcoin or other cryptocurrencies in India under the current government policies? Shocked

in my opinion, India could be an important factor in the development of bitcoin in South Asia. if India does not ban bitcoin, I think countries in south asia will take part, although the process will be long and time consuming. The point is back to the government in that country.
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June 04, 2018, 02:39:48 PM
 #4

What do you people think about the future of bitcoin or other cryptocurrencies in India under the current government policies? Shocked

As for now, they may not embrace the power of cryptocurrencies, yet! But I know when they are starting to feel being left out then they will also eventually use it.
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June 04, 2018, 02:40:54 PM
 #5

the future of bitcoin in india is brighter and as the government continue to use it,it expands the economy of india
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June 04, 2018, 02:49:08 PM
 #6

No people in this world can stop bitcoin, it is here to stay and the digital currency is the future. The sooner the governments all over the world realize it the better for them. Cryptocurrency can be very beneficial for the economy for a country, so the governments don't want to miss this opportunity.
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June 04, 2018, 03:03:23 PM
 #7

India has been looked as one of the nations that would see Bitcoin’s future in the coming years. One report suggested that , demonetisation practise done by Government has helped increased the weekly business of bitcoin trading in India. The increased trading helped push the digital currency’s value to recent highs.
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June 04, 2018, 03:20:02 PM
 #8

Under the current Govt. authority, I believe that in India, bitcoin or other cryptocurrencies will be approved after setting certain rules and regulations.
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June 04, 2018, 03:22:17 PM
 #9

India government posture and stand on bitcoin is favorable and the numerous IT experts in India can utilize this opportunity  to make bitcoin a strong currency in Asia.
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June 04, 2018, 07:52:12 PM
 #10

 I think bitcoin or other cryptos will be approved in India. But before that Indian govt will set some regulations for controlling any unwanted situation. 
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June 04, 2018, 08:43:47 PM
 #11

India is one of the big economy in south Asia. If bitcoin have become popular in India, neighboring country Bangladesh and Nepal will understand the necessity of it. So they will legalize it in their country.
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June 04, 2018, 08:50:37 PM
 #12

What do you people think about the future of bitcoin or other cryptocurrencies in India under the current government policies? Shocked

The current situation is not very positive in india right at this moment. The Reserve Bank of India had issued a notice to all commercial banks which forbids them to provide services to any crypto related businesses. Few crypto exchanges have taken this matter to the court and surprisingly the court had denied interim injunction on that notice.

The future looks grim under current government policies as this givernment is driven by religious forces.

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June 04, 2018, 08:55:43 PM
 #13

The current situation is not very positive in india right at this moment. The Reserve Bank of India had issued a notice to all commercial banks which forbids them to provide services to any crypto related businesses. Few crypto exchanges have taken this matter to the court and surprisingly the court had denied interim injunction on that notice.

The future looks grim under current government policies as this givernment is driven by religious forces.
Weren't all of the Indian crypto exchanges leaving the country and moving to Singapore or something?

One cannot possibly blame India for blocking banks to work alongside crypto businesses. A lot of people got scammed in India, people were held at gun point apparently, and the thieves took away the entire money. But we can't blame crypto as well. The future looks uncertain, there were rumors about the Reserve Bank of India releasing their own coin, hopefully whatever happens, it is for the best.


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June 04, 2018, 09:11:12 PM
 #14

it seems where you have high populations and they have little to no money then they are not going to be allowed bitcoin by their governments

sad but hopefully this will change over time for them

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June 04, 2018, 09:16:55 PM
 #15

there is no positive sign from the govt. So I can not predict the future of crypto in India. But i think India is well techie country with a lot of tech celebs. So they will make a way forward to adopt crypto and bitcoin in future.
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June 04, 2018, 10:17:24 PM
 #16

The current situation is not very positive in india right at this moment. The Reserve Bank of India had issued a notice to all commercial banks which forbids them to provide services to any crypto related businesses. Few crypto exchanges have taken this matter to the court and surprisingly the court had denied interim injunction on that notice.

The future looks grim under current government policies as this givernment is driven by religious forces.
Weren't all of the Indian crypto exchanges leaving the country and moving to Singapore or something?

One cannot possibly blame India for blocking banks to work alongside crypto businesses. A lot of people got scammed in India, people were held at gun point apparently, and the thieves took away the entire money. But we can't blame crypto as well. The future looks uncertain, there were rumors about the Reserve Bank of India releasing their own coin, hopefully whatever happens, it is for the best.

Indian crypto exchanges are certainly planning to a more crypto friendly nations like Singapore or Hong Kong but that doesn't help the common crypto users of India. Where the common people used to receive domestic remittance, they will start receiving foreign remittances which will raise another set of alarms to the tax authority. Individual peoples will start getting tagged by the tax authorities on those remittances. This will further worsen the situation.

The only way is to keep the p2p transaction market alive like localbitcoin and paxful. p2p transactions are harder to catch if the amount is kept within a certain low limit. But if the government finally decides to ban it, a lot of people will face serious trouble.

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June 04, 2018, 10:21:05 PM
 #17

I do not think these bans and controls will be long. As the states begin to make profits, those who implement this ban will remove the bans one by one. Feature The US and China will be welcomed globally.

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June 04, 2018, 10:27:46 PM
 #18

for a while, I see that the Indian government still does not accept bitcoin and other cryptos. a high number of population in India makes the government must take preventive action to avoid criminality by using bitcoin or other cryptos.

I am convinced that the Indian government actually realizes that bitcoin and crypto are their economic solutions. but they just are not ready yet. and there are still many primitive societies.

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June 04, 2018, 10:57:44 PM
 #19

A country where internet is just new, it will take some time for the public to accept it as a currency.Most of the people in India, think of bitcoins like some stock that can be used for investments.
Things are going to be like this, static, for a decade.It's going to take some time to make an environment like south korea here.Till then it's future depends on some ignorant bureaucrats :/ 
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June 04, 2018, 11:47:11 PM
 #20

Most of the coiners in India will have no longer to think that crypto's will be banned if everything is under the government policies.



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