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Author Topic: Bitcoin ban in india  (Read 665 times)
Zandra
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July 10, 2018, 01:37:56 PM
 #21

Any country that bans cryptocurrency will end up changing their mind when it becomes widely adopted.  Your economy would lose out on  a lot of business if you weren't accepting a currency that the entire world uses.

I totally agree with you on this. The leading countries governments have a hard time inhibiting BTC so countries which don't have much opposition find it easier to ban BTC and they do so almost to please the giants, but soon they will realise at what a cost that came to

For sure they will realise that.
There are some countries that Bitcoin are ban but i believe their mind will change and realized how's important of crypto currency.

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July 10, 2018, 01:44:15 PM
 #22

This information have been mention on several occasion on this forum and elsewhere. Please kindly look for an information that will elevate the cryptocommunity positive. We have so many good news about bitcoin, look for them and post it here.

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July 10, 2018, 01:52:28 PM
 #23


I know that sounds bad coming from a country which has huge number of users .
Its not banned but its also technically ban as people can't use it for their own things . Basically the withdrawal is banned and using banks as a medium is banned .
But i am optimistic they will find a way out of this.

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July 10, 2018, 02:03:49 PM
 #24

As the market of crypto currency is decentralized market the government or any third party a=cannot interfere in it. As a result government will try to impose laws to prevent it in the country. Like done India. But as the popularity and the usage of the crypto currency increases the government will be forced to allow it in the country
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July 10, 2018, 02:04:03 PM
 #25

Resistance to revolution is like miss the ladder to the for the fortune. If India not change its stand on crypto then he will suffer too much loss in taxation and jobs alao which is very important for government. So I think they will change there stand on crypto.
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July 10, 2018, 02:06:01 PM
 #26

so trading in india is illegal or we can still do trade and cashout via localbitcoins ?
my personal thinking would me its most wrong decision and now crypto trader will do hidden buy and sell without giving tax !

Trading isn't illegal. You just can't use your bank account for anything crypto related. Likewise, crypto businesses won't be given access to bank services either. Peer-to-peer is essentially the only way to go from this point and it's still perfectly legal. For your situation specifically: you can use localbitcoins but you can't cash out to your bank account (or you can, but your bank might close it).

It also has to be noted that this central bank ban is not permanent yet. There's still a hearing scheduled on July 20 so it's possible for it to be lifted then. Cross your fingers, there's still hope.

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July 10, 2018, 02:33:49 PM
 #27

A news is being heard that the government of India has banned the transactions of crypto currency. But we can hope that they will end up changing their mind.
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July 10, 2018, 03:09:23 PM
 #28

Before saying anything about this statement I will like correct that India didn't ban bitcoin the government still haven't fill anything about this but yes the Central Bank of India decided to not to cooperate with bitcoin  that's why the users can't do any kinds of transaction in india
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July 10, 2018, 03:17:17 PM
 #29

Bitcoin being a decentralized system, keeps getting banned in countries every now and then. However, the ban is removed aftrr sometime when the authorities realized how it is needed in the country. It'd have been better if the authorities actually thought twice before placing a ban on Bitcoin.
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July 10, 2018, 03:23:29 PM
 #30

It is very sad to hear some news that bitcoin is being ban on some countries. Although it has a big impact to them bitcoin is very useful and it is a big loss if they are noy being used.

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July 10, 2018, 03:28:33 PM
 #31

In my opinion banning cryptocurrency in a country is like banning the future in business. Sooner or later those goverments will surely know what is the importance of cryptocurrency. Bitcoin is the FUTURE!
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July 10, 2018, 03:32:56 PM
 #32

Yea, its true that bitcoin is banned i9n India. It’s really sad. But soon Government will realise it’s good side and even accept it. Hope for the permit to get India be more proud.
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July 10, 2018, 03:52:41 PM
 #33

Any country that bans cryptocurrency will end up changing their mind when it becomes widely adopted.  Your economy would lose out on  a lot of business if you weren't accepting a currency that the entire world uses.
Naturally that is what happens in reality. Every country has been doing the same. India has created a lot of trouble by saying a no to bitcoin. Eventually they would realize that this was the real loss to the economy of the country when a significant part of Indian population is deeply engrossed into the bitcoin market and they are most active participants of the market. Ultimately the result of all of this would be that the government will have to face the resistance by its citizens. Right now nobody has come up to oppose the government, but in a democratic country you cannot expect silence on the the part of the citizens when something goes wrong.

  

 
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July 10, 2018, 03:56:13 PM
 #34

The government has not put ban on trading of cryptocurrencies but the centeral bank has issued notice to other commercial banks not to deal in any crypto related entity which in turn down the work of local exchanges.The supreme court had decided to stick with decision of RBI until 20 july until next hearing.So its not a ban on bitcoin or other cryptos but banking transactions have been closed from exchanges.
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July 10, 2018, 04:02:10 PM
 #35

This is a terrible news for all our fellows who believe in bitcoin in this country.  I can only imagine how disappointing this is to them. I am hoping that this wont happened here in the Philippines.
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July 10, 2018, 04:11:27 PM
 #36


You are not allowed to just copy paste posts. Your post must have a meaning sand if you just want to provide information to others then make it in such a way that you are not spamming by copy-pasting and expressing your views in a significant manner.


This is a terrible news for all our fellows who believe in bitcoin in this country.  I can only imagine how disappointing this is to them. I am hoping that this wont happened here in the Philippines.
Yea, its true that bitcoin is banned i9n India. It’s really sad. But soon Government will realise it’s good side and even accept it. Hope for the permit to get India be more proud.

Bitcoin being a decentralized system, keeps getting banned in countries every now and then. However, the ban is removed aftrr sometime when the authorities realized how it is needed in the country. It'd have been better if the authorities actually thought twice before placing a ban on Bitcoin.
A sad and old news. India has banned crypto too because of its virtuality and many other cause. But I am not much bothered about it as you can see the market is still recovering inspite of this bad news.
cryptocurrencies are banned in india but the government in india thinking seriously about cryptocurrencies because cryptocurrencies are accepted by other countries worldwide then india also has to be accepted cryptocurrencies and when it will be accepted the started charging taxes on it.

All you guys must know that Bitcoin or any cryptocurrency is not technically banned in India but are restricted to be dealed with INR(Indian fiat).
Despite other people posting that it is not banned, I see many people agreeing that its been banned which shows that the people are posting without prior reading the posts.

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July 11, 2018, 10:08:11 AM
 #37

This is indeed a sad news for the market of crypto currency. Losing out on such a big market like India, the crypto world lost pout on a lot of potential investors. The government has done this mainly due to the fear of the market's anonymous actions, which may result in illegal works.
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July 11, 2018, 10:28:43 AM
 #38

it is unfortunate, while bitcoin can help improve a country's economy
i think india will regret it and they will soon receive bitcoin
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July 11, 2018, 10:44:17 AM
 #39

Why like this turn out in India. Well, I think it is not yet finalized that the Bitcoin in India is totally banned. As i have read, the government is still thinking if they will banned crypto currencies since they know that the other countries are accepting it. Well, this is not a good news for u and for the whole crypto currency community.


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July 11, 2018, 10:51:34 AM
 #40

Those news are more than old, i dont understand why you even bother to post it again because we have already seen them more than dozens of times before. Anyway, this does not have a huge weight on the bitcoin community, hopefully.


The issue of cryptocurrency or bitcoin being banned in countries are becoming too much on this platform. The saddest aspect is that most of them are old news and others too are fake news. If we continue to be spreading such news, it brings fear to most investors. And to the countries who really want to ban it i believe they will rescind that decision in no time. Trust me.
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