With the recent adoption of the cryptocurrency in india and the resources been committed to the cryptocurrency by the indian government. it can be said that indians now have the assurance that there are no limitations in the idea of pumping resources into the crypto space ass investment.
I think we had quite a similar thing in my country to what is now happening in India. Ukrainian national bank made a statement that it doesn't recognize cryptos as means of payment and using any unrecognized 'money' is illegal. Some local FUD started afterwards, as if it was big deal, but it really wasn't. Nobody cares what the central bank thinks. It's up to the parlament to decide such matters. And just like RBI banned cryptos while DEA is working on legislation of some legalization (https://cointelegraph.com/news/india-government-to-consider-allowing-crypto-tokens-but-not-cryptocurrencies), project laws on legalization started to appear in Ukraine. We have to wait for Supreme court's decision in India on 11th of September anyway. 
Topic: Are Indian investors in dilemma to make investment in cryptos!!! (Read 321 times)
August 30, 2018, 10:49:04 AM
What will happen to people who didn't withdrew money back?
If you're referring to the people who didn't sell their bitcoin to fiat(rupees) before the denial, then it would be significantly harder for them to sell their bitcoin. Now, they'd have to transact peer-to-peer, meaning that they'd need to look for people who are willing to meet up in person to transact with bitcoin to fiat and vice versa..
August 06, 2018, 01:45:21 PM
I think there is no way of regret or dilemma because if the investor want to invest they can easily do this and also if they want to withdraw they can also do this.
August 05, 2018, 11:23:03 PM
I think a Cryptocurrency investor will not be affected by government regulation, because Cryptocurrency is a very good investment. They don't need to be carried away by a dilemma if the Government prohibits it, there are still ways to get money even though the RBI prohibits activities in Cryptocurrency. And Indians will do that.
August 05, 2018, 11:17:23 PM
In India crypto currency is not legal. So Indian investor they can't get any support from government. That’s why they confuse to investment large amount of money because they are afraid to government rules and regulation.
August 04, 2018, 02:09:49 PM
after this event, many will continue to buy bitcoin, only bypassing government decisions
August 03, 2018, 10:03:17 PM
What will happen to people who didn't withdrew money back?
If you're referring to the people who didn't sell their bitcoin to fiat(rupees) before the denial, then it would be significantly harder for them to sell their bitcoin. Now, they'd have to transact peer-to-peer, meaning that they'd need to look for people who are willing to meet up in person to transact with bitcoin to fiat and vice versa..
No need to meetup in person. There are several online p2p exchanges you can use. Instashift is my personal favorite.
August 03, 2018, 08:12:13 PM
I think they are in a dilemma. Because the high court hasn't yet give it's decision and many are expecting that the court will withdraw the ban. Hopefully soon this dilemma will be over after the court had given it's judgment.
India is undecided about crypto-coins. The rulers and regulators of the country with more than 1.281 billion inhabitants have not yet reached a consensus if they ban or release the cryptoactive in the country.
Even without the association of banks you can sell your cryptos by using peer to peer transaction or bypassing the law. However, RBI is unlikely to ban cryptos rather they will try to regulate it with a draft framework already in progress, in that way, they can make a profit for themselves too. But, if the investors want they can still sell or exchange their cryptos secretly which has been the case for many countries.
This is normal, but the Indian court has not yet decided. It can be expected, however, that Crypto's decision will be something that is good for investors. I would like to know more details.
From my point of view Indians are not face this types of problem. As crypto is already popular so many country. Also some company accept crypto already. So they are not in dilemma I think people will feel more interest towards in this market.
I think Indian are not facing any kinds of dilemma to invest for this sector. Crypto is already accept by big company, and those company already has business in India so I believe it will create positive image among the Indian people.
Indian investors are in a real worry right now as Govt. are taking time in allowing or declining the Crypto-currencies in Indian Market. But I will say all Indians who own BTC may stick with their investments. They may trade personally the BTC and other altcoins but one thing Crypto-market cannot be fully stopped in India as a corrupt is everywhere and Govt. if declines crypto, will be a major threat making the condition worse.
I think between September all Indian have the regulation about cryptocurrency. And I wish it will be positive with cryptocurrency. There dilemma with cryptocurrency will vanish.
As the supreme court has not officially announce to reduce the use of these cryptocurrencies, so I think investors will continue the process of investment till hearing any strict announcement.
Many exchanges has made new way of selling and buying btc by peer to peer system.So people are regaining faith and are able to buy it again.
Banks are not the sole place to sell your cryptos, you could also use one on one transaction or bypass the law. However, RBI is unlikely to ban cryptos rather they will have a share of profit themselves if it is regulated in good terms. So, if the investors can sell or exchange cryptos secretly, which happens alot in various regions of the world.
As supreme court is still to take decision regarding regulation of crypto currency in India after RBI denied and asked banks to stop transactions. Are Indian investors still want to make crypto investment! What will happen to people who didn't withdrew money back?
For sure the people from the country of India that had a funds is would be harder to them to sold it or withdraw.
But of course there's a way for them, they can negotiate from the other people that willing to bought their crypto.
i think more of the dilemma is in the news rather than in the minds of bitcoin investors in India.
those who had their funds on the exchanges had more than enough time to withdraw and after that anybody who wanted to invest in bitcoin has been doing so off the market easily on places such as localbitcoins. things just got harder not impossible.
those who had their funds on the exchanges had more than enough time to withdraw and after that anybody who wanted to invest in bitcoin has been doing so off the market easily on places such as localbitcoins. things just got harder not impossible.
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