what will happen to bitcoin in india

[tippytoes]

even the government officially forbid bitcoin, ppl will find their way to buy it.

for now there are still many countries that forbid crypto and bitcoin currencies especially because maybe the country's government is afraid of negative results to be obtained but I am sure that one day it will be needed along with the times and technology

It has been over a year now that my country forbids crypto currency too, but here we are now, me and my friends still using it without any form of harassment by government because they do not even know that we are using crypto. There are so many things that cryptocurrency is useful for than what meets the eyes of the government.

I have been trading in cryptocurrency now for over a year even amidst the ban, and I am doing very fine. SO even if their government forbids, cryptocurrency, the smart ones amongst them will still find a way out into creating a bright future for themselves through cryptocurrency.

This is actually the benefit of cryptocurrency. The government will not know your crypto dealings. Just be careful in using your internet as telecom companies might turnover their clients' data history in case your government become totally strict with crypto business. They might be addressing one problem here, the proliferation of scams but I hope they can see also the benefit of blockchain technology. It will hinder some of their advancement in terms of technology.

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[FanEagle]

I have a friend in India and talked to him about the options and he told me that there are many countries that take Indian residents without a visa or anything, some of them have regulations like you require to go back to your country every 90 days which would be very difficult but some of them have great deals like going back only once a year.

There are of course countries like Somali and what not which he would not consider but there are great places as well which they could potentially leave the country for. I mean think about it if the country you live in doesn't support what you do and the country that welcomes you with open arms and allows you to live there then why would stay in the same country? Would only make sense to leave and go to that good country as an option.

[erikoy]

SInce India has banning cryptocurrency then there will be likely to drop for bitcoin and the market. So far, it does not affect to now of the current market for bitcoin but instead bitcoin market has gone high. I did not expect this to happen but it did knowing that bitcoin had made huge market price pump from 8K to 9K USD as of the now while writing the reply.

[DigitalCyberius]

The Indian government (and Central Bank) do not look very enthused about cryptocurrency, with some apparently proposing a bill to ban crypto and give out harsh punishments, but then denying that they knew about it. And then they're offering blockchain courses, lol. A bit confusing, and more negative than positive it seems. Here are some interesting articles on the subject:

-Indian Government in Dizzying Reversal Sponsors Free Crypto Course
https://www.ccn.com/op-ed/indian-government-hypocritically-sponsors-free-crypto-course/2019/06/14/

-What Bitcoin Ban? Indian Central Bank Denies Involvement in Crypto Ban Bill
https://www.ccn.com/crypto/what-bitcoin-ban-indian-central-bank-denies-crypto-ban-bill/2019/06/10/

-5 Major Indian Laws That Apply to Cryptocurrency
https://news.bitcoin.com/indian-laws-cryptocurrency/

Have a good day,
The Cyberius team.

[umbara ardian]

What will happen to bitcoin in india. whether it is legal or not.

Don't worries about it. Bitcoin, I am sure will be get legal on India, because these country have much populate with hand of crypto and Bitcoin price will be increase when the goverment make a softly rule for people get in.

[Febo]

What will happen to bitcoin in india. whether it is legal or not.

The clip I watched yesterday sounded so dumb that I just LOLed. They are making its own shitcoin and already preparing to shill it. They will fail at it.

[GreenStox]

What will happen to bitcoin in india. whether it is legal or not.

Don't worries about it. Bitcoin, I am sure will be get legal on India, because these country have much populate with hand of crypto and Bitcoin price will be increase when the goverment make a softly rule for people get in.

Bitcoin can get legality in India but it takes a very long time because in India there are also a lot of people who use bitcoin for crime so the government of India is still reluctant to provide legality for the use of bitcoin in India.

[DreamStage]

as far i know , the goverment of india is banned bitcoin because of something , but just lets hope they can consider about that choice in the future

You should understand the topic in first place before providing some unclear reply....

They have made such arguments against it and probabily will ban it 100% due to:
The committee is reportedly also considering an option to ban digital currency under the Prevention of Money Laundering Act (PMLA) since it could purportedly be used for money laundering. The Ministry of Corporate Affairs reportedly stated that cryptocurrencies are used in fraudulent schemes to “defraud gullible investors”.

From Cointelegraph:
https://cointelegraph.com/news/report-india-considers-complete-ban-on-digital-currencies

From Coindesk:
https://www.coindesk.com/indian-government-again-discussing-ban-on-cryptocurrencies-report

[reality18]

During the Q1 2019 conference in India, the Central Bank of India came out with a declaration which says cryptocurrency and all related activities are authorized in India. This could be a good step for Bitcoin to gain another level of adoption by the mass.

[guoyu78]

What will happen to bitcoin in india. whether it is legal or not.

I don't know how things work in India but I still think that they can still be able to make use of crypto as long as they are not being a dummy. They should just stop making use of exchanges that are going to expose them because I believe their government can trace them. Anyone that is living there should be using Local Exchanges like LocalBitcoin so that any money that is being sent to them will go from individuals accounts and not from an exchange account. When you sell your coins to an individual and he or she sends you money, the government will not be able to know what business you have been up to.

[sana54210]

even the government officially forbid bitcoin, ppl will find their way to buy it.

for now there are still many countries that forbid crypto and bitcoin currencies especially because maybe the country's government is afraid of negative results to be obtained but I am sure that one day it will be needed along with the times and technology

It has been over a year now that my country forbids crypto currency too, but here we are now, me and my friends still using it without any form of harassment by government because they do not even know that we are using crypto. There are so many things that cryptocurrency is useful for than what meets the eyes of the government.

I have been trading in cryptocurrency now for over a year even amidst the ban, and I am doing very fine. SO even if their government forbids, cryptocurrency, the smart ones amongst them will still find a way out into creating a bright future for themselves through cryptocurrency.

You are very much right about this mate, after all, when the creator of cryptocurrency made it, he must have put all of these into consideration and created a peer to peer payment system that has full anonymous security for protection of its users against the government. So they should not really panic with the ban, I am sure that overtime, they will lift it.

Countries with full technological power too like japan are already adopting it and I am sure Indian government just lack the understanding of it yet, and once they fully know what cryptocurrency is all about and how other great countries are beginning to consider its implementation, they will sure life the ban.

[CARrency]

What will happen to bitcoin in india. whether it is legal or not.

The clip I watched yesterday sounded so dumb that I just LOLed. They are making its own shitcoin and already preparing to shill it. They will fail at it.

I think I heard this before and I think it will be the same as the other cryptocurrencies that came before it, it will fail. I don't know what came in their minds, all I know is that they are wasting their time in that currency they are making.

[Vishnu.Reang]

I think the entry of Libracoin has made some difference. The government will think twice before banning Libra, which is being supported by Paypal, Visa.etc. In case they ban that coin, then the government will be blamed as hostile to new technology. And in case they don't ban Libracoin, then they need to keep the same policy with the other cryptocoins as well.

[Ambucrypto369]

The Indian government (and Central Bank) do not look very enthused about cryptocurrency, with some apparently proposing a bill to ban crypto and give out harsh punishments, but then denying that they knew about it. And then they're offering blockchain courses, lol. A bit confusing, and more negative than positive it seems. Here are some interesting articles on the subject:

-Indian Government in Dizzying Reversal Sponsors Free Crypto Course
https://www.ccn.com/op-ed/indian-government-hypocritically-sponsors-free-crypto-course/2019/06/14/

-What Bitcoin Ban? Indian Central Bank Denies Involvement in Crypto Ban Bill
https://www.ccn.com/crypto/what-bitcoin-ban-indian-central-bank-denies-crypto-ban-bill/2019/06/10/

-5 Major Indian Laws That Apply to Cryptocurrency
https://news.bitcoin.com/indian-laws-cryptocurrency/

Have a good day,
The Cyberius team.

there is no official news about bitcoin regulation yet...

[jostorres]

actually the users of cryptocurrencies are very much and make very good growth in the country. but because the government of India saw a negative side about cryptocurrencies, there was news that the country's governments would ban the use of cryptocurrencies in that country.

I see this ban as unnecessary and wasteful ban because the benefit of cryptocurrency is too much for Indians to ignore it with the level of their technology. They have so many experts when it comes to information technology that will always develop software that will assist the already self-made anonymous system of Bitcoin not to become transparent to the government for them to know.

With India’s population, this is not the right time for them to ban a system that will alleviate poverty and also create job for their citizens. Maybe India has not seen the number of jobs that has been created through this blockchain technology, if they had seen, they would have embraced the technology because of their population.

[Naida_BR]

What will happen to bitcoin in india. whether it is legal or not.

India is a big market for cryptocurrency industry and the decisions that are taken by the government is a great concern to all of us.
However, Bitcoin cannot fully regulated thus Indians will still have options to access the market. Maybe it will be more difficult but still they would be able to make transactions in the blockchain.

[Leh-Meh]

as far i know , the goverment of india is banned bitcoin because of something , but just lets hope they can consider about that choice in the future

India is famous of big scammers and billionaire scammers, so Indian government will mostly put Bitcoin under strict law thereby killing Bitcoin by 80%.

[leftgirly]

The issue with Bitcoin in India and many other countries is almost the same. The government and the Central government  feels threatened by the growing popularity of bitcoin. Hence they have restricted the use of bitcoin or transactions involving bitcoin so people would not feel comfortable dealing in bitcoin.

[Febo]

What will happen to bitcoin in india. whether it is legal or not.

Don't worries about it. Bitcoin, I am sure will be get legal on India, because these country have much populate with hand of crypto and Bitcoin price will be increase when the goverment make a softly rule for people get in.

Bitcoin can get legality in India but it takes a very long time because in India there are also a lot of people who use bitcoin for crime so the government of India is still reluctant to provide legality for the use of bitcoin in India.

Do you know how many people use ruppies fro crime in India? Will they ban ruppies and start using CNY now?   Money is to be used by anyone. that is the point of money. You fight crime with ... Well whatever police do. There are schools for that.  You dont kill economy and take money away to fight crime. Then you will not have money to pay the police and there will be even more crime.

[zhekinsp]

What will happen to bitcoin in india. whether it is legal or not.

the population is very high in India so that people can also been very helpful but it will not reach every people that is the fact but I think ok it it is legal to transact in India but not been 100% issued by the government.