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Author Topic: Is this the END of bitcoin and crypto in India?  (Read 135 times)
lordquanta
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September 04, 2018, 07:22:05 PM
 #1

With latest update on zebpay-app  it looks like zebpay is closing down their operations in India soon due to the RBI directives. Well the writing was on the wall since last few months as RBI and Indian Govt maintained their stern attitude towards the crypto in general.  With blanket ban on crypto to cash conversion it become very difficult for bitcoin and crypto community to survive.
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RocketSingh
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September 04, 2018, 08:23:57 PM
 #2

With latest update on zebpay-app  it looks like zebpay is closing down their operations in India soon due to the RBI directives. Well the writing was on the wall since last few months as RBI and Indian Govt maintained their stern attitude towards the crypto in general.  With blanket ban on crypto to cash conversion it become very difficult for bitcoin and crypto community to survive.
If, for you, Crypto in India meant ZebPay, then yes. AFAIK, govt has no problem with Crypto. They're merely restricting Regulated Financial Institutions to deal in Crypto. Join alternatives like https://Bisq.network and u are all good. Smiley

snkiworld
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September 05, 2018, 02:46:37 AM
 #3

With latest update on zebpay-app  it looks like zebpay is closing down their operations in India soon due to the RBI directives. Well the writing was on the wall since last few months as RBI and Indian Govt maintained their stern attitude towards the crypto in general.  With blanket ban on crypto to cash conversion it become very difficult for bitcoin and crypto community to survive.
No,we have lot of foreign exchanges to continue our crypto trading and P2P to convert to fiat so this is not the end.
S00rabh
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September 05, 2018, 01:22:53 PM
 #4

Perhaps you need to visit back alleys of Karol Bagh.  Cool
kumarrajudtu2017
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September 06, 2018, 07:11:52 AM
 #5

As per RBI they are in favour of blockchain technology. In future for better use of blockchain RBI may regulate crypto currencies. Secondly Few exchanges have started peer to peer model for exchange of BITCOINS, in INDIA. So technology will give the boost in India economy also.
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September 06, 2018, 07:57:15 AM
 #6

no it is not the end. Its just a panic in market
glowing10
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September 06, 2018, 08:13:22 AM
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no it is not the end. Its just a panic in market

If India is concerned it will depend upon the government and the regulatory authorities if they want to make it continue or want to get t banned. But if btc is concerned then it is their to stay in the world and countries which are accepting or making it legal will be benefiting from it.

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fox.dn
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September 06, 2018, 10:02:05 AM
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In India they din't lunched yet in supreme court there is going procedure to lunch i'm waiting for India to lunch cryptocurrency
 I think it will lunch soon...
manojpatelme
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September 08, 2018, 12:49:54 PM
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Don't be panic bro, it's not the end there is a lot of life is remaining in crypto.

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September 11, 2018, 10:37:55 AM
 #10

With latest update on zebpay-app  it looks like zebpay is closing down their operations in India soon due to the RBI directives. Well the writing was on the wall since last few months as RBI and Indian Govt maintained their stern attitude towards the crypto in general.  With blanket ban on crypto to cash conversion it become very difficult for bitcoin and crypto community to survive.
I don’t think so closing down of Zebpay in any way implies the end of cryptocurrency market in India. so what if what exchange is closing down, you have lot of foreign exchanges which you can use for cryptocurrency trade. I know our government is showing restrictive attitude towards crypto but they still had not banned the market completely because at somewhere they are aware of the crypto’s potential.

rohitkaira
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September 12, 2018, 06:00:51 AM
 #11

No this not the end of Bitcoin or crypto in India, government is very cautious and want to protect investors from highly volatile and uncertain blockchain market, government also concerned about misuse of crypto by corrupt and anti social elements. As market start maturing and crypto/blockchain industry become more stable, government will slowly opens the market after preparation for regulatory framework.
S00rabh
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September 13, 2018, 08:18:48 AM
 #12

Although that's the thing with crypto. Gov can block exchanges from dealing with Crypto. They just cannot block crypto itself. So be happy, its all going to survive.
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September 14, 2018, 11:18:27 PM
 #13

Don't know what's gov move regarding this. But I don't think it will leads to the end of crypto. After all those things now many exchange come up with the peer to peer system. Even zebpay come up with the TrueUSD pair which is like Tether. But bad things is that many Indian investors left the crypto world.  Sad

jatin729
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September 15, 2018, 04:52:41 PM
 #14

I don't know what RBI actually want, we as a crypto enthusiast want to pay tax if they want, Country like Japan regulate crypto and you can see their economy is far better than India. I think RBI has to think about the regulation for crypto once more otherwise we will leave behind the world because world is now about grow with digital money.  why we can't !!!

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September 20, 2018, 08:09:40 PM
 #15

At the moment the market is not stable end per RBI they are in favour of blockchain technology! They're merely restricting Regulated Financial Institutions to deal in Crypto
buddhasource
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September 21, 2018, 07:39:04 AM
 #16

Don't be so harsh on yourself. This is not a blanket ban.

Fiat <-> Crypto has gotten almost same as before with P2P exchanges like WazirX.


There was a time when Zebpay deposits use to take 24-48hrs. Just before ban (Feb-April), most exchanges supported deposits in real-time. After Ban deposit takes an hour via P2P. So not much of a trade off.


The overall volume globally has come down, this reflects on India as well more than ban.
snkiworld
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September 21, 2018, 05:00:09 PM
 #17

Don't be so harsh on yourself. This is not a blanket ban.

Fiat <-> Crypto has gotten almost same as before with P2P exchanges like WazirX.


There was a time when Zebpay deposits use to take 24-48hrs. Just before ban (Feb-April), most exchanges supported deposits in real-time. After Ban deposit takes an hour via P2P. So not much of a trade off.


The overall volume globally has come down, this reflects on India as well more than ban.

Yes globally crypto volume is less now but oct-nov month will be crucial because every year in those months cryptos have huge volumes so lets hope for good volumes in those month with rise in price.
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