Bitcoin will be junk/trash after ban in 2 big countries

[Leh-Meh]

Bitcoin got banned in India and China so Bitcoin is worthless in these 2 countries. People of India will lose $10,000 or $100,000 if they do not get buyers in other countries at $7000.

But who will buy 1 Bitcoin for $7000 ??    Insider's Information for Gold and Silver

Bollywood superstar "Amitabh Bachchan" earned multi-million dollars by starting a Bitcoin company.

[fiulpro]

To be honest they aren't the two major countries at all ,that's true that they do hold an influence , but we already saw how Bitcoins suffered from just minor loss and then recovered during the ban in China , same will happen here too.

Also it's going to be banned or not is not yet confirmed in India , the fact is , it may be banned but trust me People will find a way to engage in Bitcoin , it's a democratic country in oppose to China thus people can submit plea against this decision.

It's not something that will influence the price that much , trust me.

[squatter]

Bitcoin got banned in India and China so Bitcoin is worthless in these 2 countries. People of India will lose $10,000 or $100,000 if they do not get buyers in other countries at $7000.

Bitcoin was never banned in China. Domestic ICOs and exchange businesses were. There is still a robust OTC market there. Weekly Localbitcoins volume alone is in the 30 million CNY range. Not to mention the mining industry.

Some Indian legislators have proposed a bill. Nothing has happened yet.

[IPVPIRL]

Any country that bans Bitcoin is moving backwards. Instead the countries that already embraced Bitcoin and the blockchain technology seem to have a more innovative and brighter future as a whole.
Bitcoin won't be "junk/trash" as you call it. Instead it will be more powerful and more useful.

The countries that block access to it and ban it with legislation, are the ones that will be left behind in the technological sector.

[joniboini]

Bitcoin fell to $3000. Not it is at $8000.

I'm not sure if the crash is related to these 'ban'. And even if these 2 countries did ban Bitcoin, there are still a lot of users.

Let's just wait and see what will happen, no need to predict when it dies. Lot's of news has been telling the same thing for years already.

The countries that block access to it and ban it with legislation, are the ones that will be left behind in the technological sector.

They can ban crypto but use blockchain.

[Beerwizzard]

Bitcoin got banned in India and China so Bitcoin is worthless in these 2 countries. People of India will lose $10,000 or $100,000 if they do not get buyers in other countries at $7000.

But who will buy 1 Bitcoin for $7000 ??  

Bollywood superstar "Amitabh Bachchan" earned multi-million dollars by starting a Bitcoin company.

Just guess how much worth to BTC bring people in India that are shitting on a street and then going to click on faucets. I think that the volume of their national market is low af.
Crypto ban in China is also not that important because miners would just move their equipment abroad and continue their work. Chinese crypto influence is only based on their  pools and not on their community.

Just IMHO but such bans can even help to develop BTC mining infrastructure and make BTC more reputable.

[Jet Cash]

Bitcoin will never be banned worldwide. I believe it is an experiment started by the banking elite, or possibly some disenchanted employees, and it is now being embraced by them as a major asset.

[Astvile]

Lol ban from those 2 country will surely not affect bitcoin itself at all,bitcoin easily recovered on price when ban on china is released.Plus the fact that yes the community there is big but not big enough to take bitcoin down if they will stop on using or get banned from using bitcoin.Trust me theres more influencial country that has a huge amount of bitcoin user

[BitcoinGirl.Club]

Bitcoin will never be banned worldwide. I believe it is an experiment started by the banking elite, or possibly some disenchanted employees, and it is now being embraced by them as a major asset.

How will you ban something which does not have any identity to trace. What I mean is, if I have an address which no one knows then how will you know that I am hodling bitcoins?

All I need to do is to hide all public information that was available before and stay under the radar.

[bittick]

Bitcoin got banned in India and China so Bitcoin is worthless in these 2 countries. People of India will lose $10,000 or $100,000 if they do not get buyers in other countries at $7000.

But who will buy 1 Bitcoin for $7000 ?? 

Bollywood superstar "Amitabh Bachchan" earned multi-million dollars by starting a Bitcoin company.

Crypto ban in China is also not that important because miners would just move their equipment abroad and continue their work. Chinese crypto influence is only based on their  pools and not on their community.

Just IMHO but such bans can even help to develop BTC mining infrastructure and make BTC more reputable.

Reminds me that time when China bans bitcoin and then all the market capitalization moved from China to either Japan and Korea, good ol days, banning bitcoin is maybe the best way to lose some money out of your country to another nearby country, when it's about money people will think out of the box, remember that this is the era of globalization and everyone could do something they usually can't.

[Beerwizzard]

Bitcoin got banned in India and China so Bitcoin is worthless in these 2 countries. People of India will lose $10,000 or $100,000 if they do not get buyers in other countries at $7000.

But who will buy 1 Bitcoin for $7000 ?? 

Bollywood superstar "Amitabh Bachchan" earned multi-million dollars by starting a Bitcoin company.

Crypto ban in China is also not that important because miners would just move their equipment abroad and continue their work. Chinese crypto influence is only based on their  pools and not on their community.

Just IMHO but such bans can even help to develop BTC mining infrastructure and make BTC more reputable.

Reminds me that time when China bans bitcoin and then all the market capitalization moved from China to either Japan and Korea, good ol days, banning bitcoin is maybe the best way to lose some money out of your country to another nearby country, when it's about money people will think out of the box, remember that this is the era of globalization and everyone could do something they usually can't.

Sure. But it only works like that if mining community is based on miners (that could be moved away) in that country and not on the community (that probably wouldn't relocate somewhere else).
One thing that I want to add is that if the power of Bitcoin is based on such shithole places like India or China just like OP thinks, then we are already fucked up without any bans.

[kaya11]

Bitcoin got banned in India and China so Bitcoin is worthless in these 2 countries. People of India will lose $10,000 or $100,000 if they do not get buyers in other countries at $7000.

But who will buy 1 Bitcoin for $7000 ??  

Bollywood superstar "Amitabh Bachchan" earned multi-million dollars by starting a Bitcoin company.

There will be people who will get the opportunity to buy their Bitcoin with low price if they dump their coin. They are not  just the only populated country in the world who engaged in Bitcoin at all.

[Janation]

So I read this article about the Banning of cryptocurrencies in India.

https://www.coindesk.com/reserve-bank-of-india-denies-involvement-in-draft-bill-to-ban-cryptocurrencies

It states that the Reserve Bank of India denies any knowledge of a proposed ban on cryptocurrencies.

[goaldigger]

Bitcoin got banned in India and China so Bitcoin is worthless in these 2 countries. People of India will lose $10,000 or $100,000 if they do not get buyers in other countries at $7000.

But who will buy 1 Bitcoin for $7000 ??  

Bollywood superstar "Amitabh Bachchan" earned multi-million dollars by starting a Bitcoin company.

I thought the two major countries you are reffering to is China, Japan or America which has a greater impact in cryptocurrency. But i believe that as long as there are more countries who supports cryptocurrency, there are hope for the other non-supporting countries to change their minds.

[MMysterious]

Bitcoin got banned in India and China so Bitcoin is worthless in these 2 countries. People of India will lose $10,000 or $100,000 if they do not get buyers in other countries at $7000.

But who will buy 1 Bitcoin for $7000 ??  

Bollywood superstar "Amitabh Bachchan" earned multi-million dollars by starting a Bitcoin company.

You just talk without knowing like a hen There are still too many Indians, especially the Chinese that hold Bitcoins.

You probably don't have Bitcoins, am I right? Are you just jealous or one of those poor people that were not able to buy Bitcoin at $3,000. Because if you have Bitcoins, I will gladly buy it at $7,000.

[Haunebu]

Hilarious. Firstly, the title of this thread is silly and misleading and it would be wise if you would change it asap. You clearly are spouting nonsense without doing proper research.

This is simply a proposed bill and has not become the law yet. Even the RBI denies knowing anything about it. I am pretty sure that such a stupid law will never pass. In the worst case scenario, if it did pass, do you really think this will stop crypto trading India?

It is not possible to ban crypto basically and majority of the traders will find alternate ways of trading even if a ban was effective in the future.

[Adriano2010]

Even if is banned on this 2 countries this will not affect bitcoin price and will still be used for long. I just want to ask, on China is banned only mining of bitcoin? And not holding or use bitcoin and trade, or i'm wrong?

[CryptoBry]

Bitcoin got banned in India and China so Bitcoin is worthless in these 2 countries. People of India will lose $10,000 or $100,000 if they do not get buyers in other countries at $7000.

Bitcoin was never banned in China. Domestic ICOs and exchange businesses were. There is still a robust OTC market there. Weekly Localbitcoins volume alone is in the 30 million CNY range. Not to mention the mining industry. Some Indian legislators have proposed a bill. Nothing has happened yet.

The ban on India is an advanced news painting a gloomy picture of what will be...but might never be. Yes, that is true even in China right now there are still people who are into bitcoin as it is impossible for the government to be following each and everyone all the time and this is the advantage of being digital evidence can be hard to find. We have to remember that if one has the money there is nothing impossible. Well, the same thing can happen in India if there can be a future ban...it is the government that will lose since it can never impose tax on transactions.

[Red-Apple]

just like China and how they haven ever banned bitcoin, India has never banned bitcoin either. it is just the shitty clickbait media that has found something they think is hot and are abusing it by spreading false information and newbies like the starter of this topic read it and believe it because they want to keep their brains intact and unused

[Lucius]

Bitcoin banned in India. 10 years jail for buying or selling cryptos and Bitcoins, is all over bitcointalk.org

It's just a proposal from certain institutions, you should learn to read and understand what this is really about. Proposal and law are two different things, and it can take months or even years that something like this come into effect.

I see nothing has changed from time when you spread FUD under other account, but no matter how much you are trying to show gold&silver as something better than bitcoin, you should know that you will not succeed in that.