x

[Astvile]

Well then the people in the government is the one who is wrong,old people who cant even use computers that saying bitcoin is a fraud.Indian government needs a new government officials who are not that old and not that young that have the mind to understand this kinds of stuff

[Bonsaiav]

Its quite sad, I have been using bitcoin for 3 years now but because of the crash, bitcoin has been labeled a ponzi scheme and there are plans to ban it in india

https://coingape.com/indian-lawmakers-call-ban-bitcoin-cryptocurrency/
https://www.ccn.com/why-indias-bitcoin-ban-could-disappear-after-march-29-hearing


edit: Im Indian

Actually financial authorities in various worlds have the same concerns, and they generally refer to it as a high-risk and speculative investment. But they're able to compensate very well so that the case isn't as severe as what happened in India. In my opinion, their minds are very narrow, frozen and selfish, so they cannot take the positive benefits brought by bitcoin. By the way, in previous years the Indian government has tried to do this kind of prohibition, have their efforts been delayed or in vain? Honestly, I don't know the progress of their regulations.

[TimeTeller]

Its quite sad, I have been using bitcoin for 3 years now but because of the crash, bitcoin has been labeled a ponzi scheme and there are plans to ban it in india

https://coingape.com/indian-lawmakers-call-ban-bitcoin-cryptocurrency/
https://www.ccn.com/why-indias-bitcoin-ban-could-disappear-after-march-29-hearing


edit: Im Indian

Actually financial authorities in various worlds have the same concerns, and they generally refer to it as a high-risk and speculative investment. But they're able to compensate very well so that the case isn't as severe as what happened in India. In my opinion, their minds are very narrow, frozen and selfish, so they cannot take the positive benefits brought by bitcoin. By the way, in previous years the Indian government has tried to do this kind of prohibition, have their efforts been delayed or in vain? Honestly, I don't know the progress of their regulations.

Those officials should first educate themselves what bitcoin, altcoin, cryptocurrency, blockchain are.
If they understand the full nature of bitcoin alone, they won't ban this cryptocurrency.
Many individuals are influenced by the people around them, not knowing the basic technology surrounding it.
If they will truly ban the usage of bitcoin, they will be left behind.

[Thermytee]

The anonymity of bitcoin mkaes it confusing to most government as they don't understand why a transaction should be this way. Some countries have labelled it outright scam or completely illegal and I keep wondering when they will catch up. Even bank transactions with crypto in its narratives get cancelled, account banned and owner arrested. This too complicated the process.

[calandra78]

Its quite sad, I have been using bitcoin for 3 years now but because of the crash, bitcoin has been labeled a ponzi scheme and there are plans to ban it in india

i am very sad to hear that news. no one can handle bitcoin price crash or down immediatelly. your goverment must have research first before baning or take action about crypto . because they have alot of  indian  people work and hold bitcoin. it can be some people very dificult to get job and work to get money

[pushups44]

People who refer to bitcoin as a Ponzi scheme have no idea what they are talking about. By definition, a Ponzi scheme must have a controlling person or group using the proceeds from new investors to enrich themselves and give older investors the appearance of legitimate returns. This money is then misappropriated by the controlling person or group. Bitcoin, on the other hand, has no centralized party controlling it. It is merely a speculative digital asset with built-in scarcity.

[libert19]

Regarding, 'their plans to ban' — it's just a speculation, until law has been passed for the same, don't bother about it.

[pooya87]

I'm not surprised at all, they seems to be following China's sudden U-turn.

China has never made any turns to be U or not
just like India and most other countries they have been doing the same thing, they have not regulated bitcoin fully so at the same time they do and don't accept bitcoin's existence. the only thing happening is the news sites publishing weird articles every now and then exaggerating some statements. for instance the recent nonsense about banning mining was a completed bullshit.

[n0ne]

India being a highly populated nation and people are much used to technology always make the corporate network have a focus on Indian market. Now cryptocurrency network too is not an exemption, because if some positive news relative to cryptocurrency happens within India a big change can be experienced in the global market for bitcoin. Upon that different ways of news relative to bitcoin is spread around. What really happened is an article posted from a news portal. There is nothing big as ban and same as other countries even if banned people will continue using it.

[r1s2g3]

Its quite sad, I have been using bitcoin for 3 years now but because of the crash, bitcoin has been labeled a ponzi scheme and there are plans to ban it in india

https://coingape.com/indian-lawmakers-call-ban-bitcoin-cryptocurrency/
https://www.ccn.com/why-indias-bitcoin-ban-could-disappear-after-march-29-hearing


edit: Im Indian

You are posting 2 news and both are opposite to each other.

News 1  says about possible banning (It is speculation only). No minister recently said anything against btc.
News 2 says about lifting current sanction .(like exchange cannot operate, financial institution are asked to keep themselves away from cryptocurrencies, cryptocurrencies not accepted as legal tender etc.)

I think current sanctions will remain in place and government will not ban crypto.

[Siren]

Its quite sad, I have been using bitcoin for 3 years now but because of the crash, bitcoin has been labeled a ponzi scheme and there are plans to ban it in india

https://coingape.com/indian-lawmakers-call-ban-bitcoin-cryptocurrency/
https://www.ccn.com/why-indias-bitcoin-ban-could-disappear-after-march-29-hearing


edit: Im Indian

Do your government not getting tired of issuing bitcoin?after that Reserve Bank of India(RBI) issue then here again another stupid propaganda?
Arent your government contented on what they are suing this great currency?

I guess the better way to stop this is not giving attention to their stupidity and just do what is available ON your country

[TheWalkingCoin]

Indian government have banned bitcoin as transaction and investment, they are always make bad thing of bitcoin become scheme ponzi. right now many bitcoin member from India could not available joining bitcoin as investing or trading.

[Yakamoto]

Its quite sad, I have been using bitcoin for 3 years now but because of the crash, bitcoin has been labeled a ponzi scheme and there are plans to ban it in india

https://coingape.com/indian-lawmakers-call-ban-bitcoin-cryptocurrency/
https://www.ccn.com/why-indias-bitcoin-ban-could-disappear-after-march-29-hearing


edit: Im Indian

Do your government not getting tired of issuing bitcoin?after that Rural Bank of India(RBI) issue then here again another stupid propaganda?
Arent your government contented on what they are suing this great currency?

I guess the better way to stop this is not giving attention to their stupidity and just do what is available ON your country

Keep in mind that India still has a caste system, there is a legitimate concern that there are people at the top of their government which are interested in keeping people from moving between the different strata. Bitcoin can be seen as a means of people moving up from their caste, especially considering the insane jumps in value that can occur. All that can be done is hoping that their government doesn't ban Bitcoin, but at the end of the day you can't do anything about it. Let them do their thing, hopefully, the Indian people know what they're doing and don't listen to the trash spread by their central banks.

[AB de Royse777]

These ignorant law makers are not gonna bring anything good for their country. How do they get the vote/job? LOL

Indeed the lawmakers aren't conversant with the latest technology and ignoramusly want to ban Bitcoin, which is not possible in my opinion because Bitcoin is a technology. The volatility of market might warrant them(Lawmakers) to have taken such move. Frankly speaking, Indian's will not find this easy if Bitcoin is finally Ban in their country.  Here's a thread that all Bitcoiners should read to keep calm even though the world government intend to close down or Ban bitcoin https://bitcointalk.org/index.php?topic=5135646.0

Problem with Bitcoin is happening in the South Asian side of the world. Other day I read a news about Bangladesh which is the neighbour country of India.

Are these people too naive to understand technology? Or there are anything else involved like personal greed?

[jakezyrus]

Problem with Bitcoin is happening in the South Asian side of the world. Other day I read a news about Bangladesh which is the neighbour country of India.

Are these people too naive to understand technology? Or there are anything else involved like personal greed?

I also read the news regarding on bangladesh  . a user posted a link with a short description which says that there are 3 people who got caught trading cryptos  .

maybe bangladesh did actually ban cryptos or they didnt accept it yet ? Now its india that will ban bitcoin ?  oh no what happen to the world now , why so many negative news that happen lately ?  Good thng that bitcoin is still staying strong. I dont see any major declines yet .

[pushups44]

Its quite sad, I have been using bitcoin for 3 years now but because of the crash, bitcoin has been labeled a ponzi scheme and there are plans to ban it in india

https://coingape.com/indian-lawmakers-call-ban-bitcoin-cryptocurrency/
https://www.ccn.com/why-indias-bitcoin-ban-could-disappear-after-march-29-hearing


edit: Im Indian

Do your government not getting tired of issuing bitcoin?after that Rural Bank of India(RBI) issue then here again another stupid propaganda?
Arent your government contented on what they are suing this great currency?

I guess the better way to stop this is not giving attention to their stupidity and just do what is available ON your country

Keep in mind that India still has a caste system, there is a legitimate concern that there are people at the top of their government which are interested in keeping people from moving between the different strata. Bitcoin can be seen as a means of people moving up from their caste, especially considering the insane jumps in value that can occur. All that can be done is hoping that their government doesn't ban Bitcoin, but at the end of the day you can't do anything about it. Let them do their thing, hopefully, the Indian people know what they're doing and don't listen to the trash spread by their central banks.

I believe the main concern of the Indian government is not upsetting the caste system but rather protecting the value of the rupee. If Indians start to trade their rupees for bitcoin, it will cause the value of the rupee to collapse, leaving the powers that be vulnerable. Of course, a move to bitcoin would be great for the peasants, just as is their hoarding of gold and silver. It's simply a desperate gambit to preserve power, and it will ultimately fail.

[maydna]

I think we could let them think like that because we cannot force them to accept bitcoin or change their mind that bitcoin is not a Ponzi scheme. I am sure that if they can prove by themselves about the truth of bitcoin, they will accept bitcoin and even they will use bitcoin as one of the payment systems. It's all about time, and soon, they will realize that the present of bitcoin now is trying to help their people and the other people from the other country. Let them find the truth and meanwhile, we could continue our journey to collect more bitcoin.

[creeps]

Its quite sad, I have been using bitcoin for 3 years now but because of the crash, bitcoin has been labeled a ponzi scheme and there are plans to ban it in india

https://coingape.com/indian-lawmakers-call-ban-bitcoin-cryptocurrency/
https://www.ccn.com/why-indias-bitcoin-ban-could-disappear-after-march-29-hearing


edit: Im Indian

Sorry for bitcoin ethusiasm in indian country this is another lonely news, some people didn't know the important of new digital money thet accuse a fonzi schem because their volality.

I think the government official of india isn't understand well of bitcoin how its run as new form of money give opportunity for those people jobless.

That's normal until now, honestly a lot of people think that bitcoin is just another ponzi scheme and that's why they are not investing. India with a huge population should consider this as a great opportunity for their people to grow and make money, study further and the government will realize it. India will not ban bitcoin, let's be positive and don't feel discourage to own bitcoin because they can't stop it even if they banned it.

[erikalui]

Not surprising to see people here abusing India for banning bitcoins but last I heard that most countries have had the same thoughts about bitcoins and crypto so all are the same ****** countries then?

Indian Govt. doesn't want to regulate the currency as it's almost impossible to track down the source and because many people are evading taxes, the currency is being blamed. I don't know whom to blame as I have met many lawyers who hate cryptos so it's unfortunate to change these people minds when there are many cases involving cryptos due to its anonymity.

[yusupjatigumilar]

Maybe they judge bitcoin ponzi scam because they have a bad experience in making transactions, for example they make mistakes when making large amounts of transactions so that the funds they have are lost and not returned, or they see only from the negative side used by fraudsters to get money in the form of bitcoin. So they judge only from the mistakes they made themselves and the criminal actions of others without wanting to see many positive sides.