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

[acroman08]

China has the biggest bitcoin mining pools in the world so bitcoin being trash in China is out of the question.
and even if India banned bitcoin there are still ways to transact it without the government noticing so bitcoin
being useless is India is also out of the question.

[xWolfx]

But seriously, let's be honest. Literally anything can happen inside third-world countries and they will hardly affect the whole world, due to the irrelevance of most of their operations.

Since it's a state it counts but in comparison it's not that relevant. China counts but since they are a communist regime then it's obvious the way they play so it's no surprise, the shock they cause is not that great.

So that is not something mortal, next question.

[phamminhtan]

To be honest, it is impossible to prohibit Bitcoin, because users will find ways to access this currency, simply that Bitcoin has no borders and cannot be banned.

[Question123]

We still not affected because we can use crypto because we are in other country we are not living in India and China. The most affected on that banning will be chinese and indian people who live in the country who ban cryptocurrency. Maybe because of this they still don't have effect but maybe after few weeks it will have bad result cause dumpuing but I think it is small only because if 2 countires ban bitcoin they have a lot of country who adapat and willing to support the cryptocurrency.

[shoreno]

To be honest, it is impossible to prohibit Bitcoin, because users will find ways to access this currency, simply that Bitcoin has no borders and cannot be banned.

If its unabannable then why do you think that countries like india , china and many more have offically declared that bitcoin is banned on thier own country ?  The government cant ban bitcoin itself but it can ban the bitcoin related websites , trading sites or anything that is related to it (  i mean they can ban the acces with it )  they can also totally ban the offline exchange ir stores that supports bitcoin  .

[Haunebu]

To be honest, it is impossible to prohibit Bitcoin, because users will find ways to access this currency, simply that Bitcoin has no borders and cannot be banned.

If its unabannable then why do you think that countries like india , china and many more have offically declared that bitcoin is banned on thier own country ?  The government cant ban bitcoin itself but it can ban the bitcoin related websites , trading sites or anything that is related to it (  i mean they can ban the acces with it )  they can also totally ban the offline exchange ir stores that supports bitcoin  .

Have you ever wondered why no country has not been able to ban Bitcoin and crypto completely despite declaring multiple bans so far? Do your research. The only way Bitcoin can effectively be banned is in 2 ways:

- If the miners stop mining completely and if trading halts completely due to which the entire market would collapse which will obviously not happen.

- The other way to effectively ban it completely is but shutting down the Internet completely which is also an impossible scenario.

This is why it BTC and crypto are here to stay no matter what anyone think of them.

[Caladonian]

To be honest, it is impossible to prohibit Bitcoin, because users will find ways to access this currency, simply that Bitcoin has no borders and cannot be banned.

If its unabannable then why do you think that countries like india , china and many more have offically declared that bitcoin is banned on thier own country ?  The government cant ban bitcoin itself but it can ban the bitcoin related websites , trading sites or anything that is related to it (  i mean they can ban the acces with it )  they can also totally ban the offline exchange ir stores that supports bitcoin  .

Government have the authority doing that, but like that statement above you, Bitcoin users still have access or will do their very best to continue having an access to continue dealing with this market, wallet to wallet /P2P can be deal using first media outlets such chat functions before starting to do the transactions.

Even this two countries will do this actions, there's still a lot of Bitcoin friendly countries that can provide the lift and continue the process.

[Nadziratel]

Bitcoin got banned in India and China so Bitcoin is worthless in these 2 countries.

I think you are misjudging the issue here. You should stop thinking BTC prices when you talking about bans.

If you were Indian, you should easily travel out of the country and sell your Bitcoin outside the India. Don't hesitate Bitcoin's future because of this ban issues.

[Fred3030]

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.

For the record, what's going round in india is just a draft which the Reserve bank of India has denied any knowledge from. Take a look at this article  https://www.coindesk.com/reserve-bank-of-india-denies-involvement-in-draft-bill-to-ban-cryptocurrencies?utm_source=twitter&utm_medium=coindesk&utm_term&utm_content&utm_campaign=Organic%20&amp
Even if India should ban crypto currency , bitcoin will remain and every grow stronger. With the massive adoption hitting the crypto world recently, the ban by one country is not enough to say bitcoin will die anytime soon.

[Bessta]

I think bitcoin getting banned in these 2 big countries is not going to be indicative of the future of bitcoin. And I am sure that the holders of bitcoin there will not let their efforts go to waste. I don't think any crash is going to be related to these bans and if bitcoin crashes it will still surely recover.

[Naginiya]

I don't know about China.But not India,India never will ban bitcoin.One reason there are lot of IT,BPO companies in India.So why they ? And also news source says "A response from the Reserve Bank of India to blockchain lawyer Varun Sethi denies any knowledge of such a draft bill, and says it received no communication from the central government regarding it. It further states it hasn’t endorsed such a ban" So the answer is no for India.

[pushups44]

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.

Bitcoin cannot be censored since it is decentralized and transactions are pseudonymous. Also, India has not banned cryptocurrencies, though a proposed bill aims to do that, and China also has not banned bitcoin ownership.

[sngwinner]

I do not think btc will be trash as you are making it seem even if it is banned in these two countries. It may be affected though but it will recover as it always does. I believe people and countries are gradually appreciating btc and so there will always be something to counter the effect from any ban

[klaaas]

To be honest, it is impossible to prohibit Bitcoin, because users will find ways to access this currency, simply that Bitcoin has no borders and cannot be banned.

Indeed, if the efforts needed outweighs the chance to get convicted people will use it. It will kill the legal businesses for now.

[ethereumhunter]

I don't think bitcoin will be junk/trash even if 2 big countries try to banning bitcoin. There will be more countries that will realize the function and the benefits of bitcoin and the altcoin, and I think they will support cryptocurrency if people can get the benefits from cryptocurrency, why they need to stay away from the cryptocurrency although their government tries to ban the cryptocurrency. I think they will try the other way to use cryptocurrency still because cryptocurrency can give a new option to them to make money.

[ice18]

This will not effect bitcoin with only 2 countries banned and believe me even btc is already banned in China still many users in this country are utilizing bitcoin and they cannot control it very easily in the future this two countries will surely unban bitcoin and cryptos because the future of money is cryptocurrency. 

[Apes]

although both countries prohibit the use of cryptocurrencies, market capitalization will not be affected. because it believes the bitcoin market is very broad. the bitcoin market will always grow. the worst possibility the market will fall but the value is not significant.
the possibility users from countries that prohibit cryptocurrencies will find a way to continue using cryptocurrency even if they breaking law.

[candra raditya]

You are too fast in estimating something uncertain, and I think even though bitcoin is banned in the two countries that you mention, but bitcoin will not be that easy to leave behind and bitcoin will not become trash.

[hatshepsut93]

India's Bitcoin volume is a drop in the ocean compared to the US, Japan and Europe, so Bitcoin's price will be unaffected in the long run. It's bad that hundreds of millions of people will lose access to easy Bitcoin trading and other services, but almost all of those people didn't use Bitcoin to begin with, so we are mostly losing potential users rather than real users. And data shows that most of the Bitcoin volume comes from rich countries, so unless western countries start banning Bitcoin, it won't really take any major hit.

[rdbase]

Didnt know this well known bollywood star there started a bitcoin company.
Have to check and see what it is was all about before the ban happened and what will happen to his companies customers will have to do now.