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

Naida_BR

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Quote from: Leh-Meh on June 09, 2019, 02:29:30 AM

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 ?? Grin

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

These two countries are huge markets for the crypto industry however there will be options for them to buy and sell crypto. OTC or localbitcoins are one of the available solutions that it might have.
Bitcoin will not be dead or junk because there are many other huge markets that are going to disrupt.

eaLiTy

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Quote from: bitbunnny on June 18, 2019, 11:41:57 AM

Well, the story about ban in India isn't over yet and it's still isn't clear how the whole situation will be solved. So, don't conclude in advance.

That is the truth, the situation in India is not clear and the news that hit the market were all click baits, there is a proposed bill and there is no confirmation whether it can be passed as a law.

Quote from: bitbunnny on June 18, 2019, 11:41:57 AM

By now experiences have told us that bans never brought anything good but also didn't prevent people from doing something. The same will be with Bitcoin, users will find their way. Ban might influence Bitcoin in negative way but it will not destroy it, such presumption is exaggerated.

Banning the market is not a solution to anything and people will find a way to trade and once the government understands that a outright ban will take the market underground rather than scaring people with these proposed bills, they will find a way to sort out the issue that will not hurt the investors and even if India or China bans bitcoin there will be no influence in the entire market.

therhslv

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Oh there is plenty of other countries , when BTC will be accepted for ETF then probably your mentioned 2 big countries will follow and unban it as they will lose alot of money from banning it

Bitcoin is here to stay , same as Internet

kissme09

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The US has banned bans in its country, and Binance has banned all Americans from participating in its platform transactions for 90 days. Bitcoin fell after this event took place? Bitcoin has not decreased, and it has increased by $ 1,000 after the event. This means that Bitcoin does not need big countries, it needs whales.

sieemma

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Bitcoin's current growth is not as a result of a particular country involving in bitcoin/cryptocurrency. Even where crypto is banned, people still participate in bitcoin trades and a lot of crypto dealings. Crypto enthusiasts are never affected by a ban so nothing will happen to bitcoin if it is banned in even up to 10 big countries.

adzino

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There are 195 countries in the world and you really think this two countries, India and China will cause the destruction of bitcoin? Well, lol!
No. Those countries banning bitcoin won't make bitcoin trash/junk. And users will still be able to sell them on other exchanges and withdraw their fiat currency. The bans might cause slight dipping of the price but will recover faster than expected.

pundit

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Quote from: fiulpro on June 09, 2019, 02:38:57 AM

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.

Rightly said, BTC is not officially banned in India yet, yes there is restriction on buying and selling BTC on any exchange in India. There are still lots of buyers of BTC on P2P exchanges, one can sell BTC for INR at a good price. I think BTC price did not get affected after this of "Cryptocurrency ban in India". Somehow if govt implement this decision even then there will be much plea against it. So I do not see any problem in storing BTC here in India till there is some firm decision over it.

bitbunnny

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Well, the story about ban in India isn't over yet and it's still isn't clear how the whole situation will be solved. So, don't conclude in advance.
By now experiences have told us that bans never brought anything good but also didn't prevent people from doing something. The same will be with Bitcoin, users will find their way. Ban might influence Bitcoin in negative way but it will not destroy it, such presumption is exaggerated.

Leh-Meh

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Quote from: nasipadang on June 17, 2019, 11:27:12 PM

Just calm down there are still other ways for them to keep using cryptocurrency, for the banning of bitcoin in india is still light because to my knowledge the punishment has not been determined and only restricts access, regarding the Indian offender has been sticking out since February 2019 and has had an impact.

Only 8% Americans have Bitcoin. That is 24,000,000 Americans.

7788bitcoin

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Quote from: Leh-Meh on June 16, 2019, 02:28:12 PM

Satoshi Nakamoto -- I'm sure that in 20 years there will either be very large transaction volume or no volume
Satoshi knew bitcoin's end after 20 years if it does not make it ?

Looking for some conspiracy theories here Tongue

, if someone is creating something which could turn the financial market upside down, he knows the impact it could make but cannot be certain in the beginning that it will be a grand success as success can be measured with the test of time, so even if Satoshi said something like that, it is within that contest and that does not mean that it will end in 20 years.
If two countries known for its breeding bans bitcoin Cheesy

, nothing will happen to the entire market, it will be a loss for their citizens to take advantage of new financial market.

Lucius

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Quote from: Leh-Meh on June 17, 2019, 10:26:20 PM

Satoshi Nakamoto -- I'm sure that in 20 years there will either be very large transaction volume or no volume

After 10 years, bitcoin is getting hammered everywhere. Grin

Bitcoin is getting hammered only in your empty head, you still spread same FUD on this forum since you make your first account. In last 24 hours bitcoin trading volume was only $16,078,777,549, do you know how much money is that? It's about 16+ billion US dollars, which in any case is a number far beyond the reach of your limited brain.

Lily_Olive

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Quote from: Tylev on June 16, 2019, 11:43:33 PM

Even if the circulation of cryptocurrency is prohibited in India and China, it will not significantly affect the cryptocurrency. She will continue to walk in other countries and will further develop. We know that these prohibitions are temporary. The countries of the G-20, the countries of the European Union do not reject cryptocurrency, and it will be regulated and walked on their territory. Perhaps, for a short time, these bans will affect the cryptocurrency price decline, but no more.

Definatly right.. may be these are just rumours.. well it will not too much effect on cryptocurrency price...

Lily_Olive

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OMG.. thats not possible.. these are just rumours i yhink soo.. well i think these are not major countries.. if bitcoin will be banned here then there will be nothing..

Ris88

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Surely the world has used a lot of advanced technology, and is similar to bitcoin that uses blockchain technology and almost all countries know bitcoin and the development of bitcoin, the problem of 2 countries that do not accept bitcoin, does not mean they will not accept bitcoin, if all countries have legalized bitcoin The two countries will contribute to legalize it ...

This is just news so that everyone worries about the value of bitcoin in the future and makes panic for new users who don't know anything, and at that time they can buy a lot of bitcoin, actually this news is old and lifted back to the public to create panic for bitcoin holders !!

nasipadang

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Quote from: Leh-Meh on June 09, 2019, 02:29:30 AM

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 ?? Grin

Insider's Information for Gold and Silver

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

Just calm down there are still other ways for them to keep using cryptocurrency, for the banning of bitcoin in india is still light because to my knowledge the punishment has not been determined and only restricts access, regarding the Indian offender has been sticking out since February 2019 and has had an impact.

Leh-Meh

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Quote from: bittick on June 17, 2019, 11:31:36 AM

There's that one time where the rumour of the chinese government banning bitcoin spread across the world and the market cap from china moving over to its neighbouring countries like japan and korea, it's not impossible for china to ban bitcoin the government just don't care about your mining farm maybe, kinda irrelevant when the amount is not influental enough.

Satoshi Nakamoto -- I'm sure that in 20 years there will either be very large transaction volume or no volume

After 10 years, bitcoin is getting hammered everywhere. Grin

bittick

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Quote from: Bunsomjelican on June 17, 2019, 07:59:27 AM

Quote from: Leh-Meh on June 09, 2019, 02:29:30 AM

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 ?? Grin

Insider's Information for Gold and Silver

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

Don't you know that China is one of the largest country that has a bitcoin mining farm in the entire world. So how come that China will ban it? probably, possible crypto but not bitcoin itself.

There's that one time where the rumour of the chinese government banning bitcoin spread across the world and the market cap from china moving over to its neighbouring countries like japan and korea, it's not impossible for china to ban bitcoin the government just don't care about your mining farm maybe, kinda irrelevant when the amount is not influental enough.

mitchr4

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We still have big countries that support Bitcoin, one of which is Japan and Korea. Moreover, if India and China banning Bitcoin it does not mean making it into junk/trash. I am sure the Bitcoin users in that country will still use it, only they use it without the government's attention. And strangely we can still see the value of Bitcoin rising even though the ban is still a rumor.

Johnzky

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Quote from: Bunsomjelican on June 17, 2019, 07:59:27 AM

Quote from: Leh-Meh on June 09, 2019, 02:29:30 AM

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 ?? Grin

Insider's Information for Gold and Silver

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

Don't you know that China is one of the largest country that has a bitcoin mining farm in the entire world. So how come that China will ban it? probably, possible crypto but not bitcoin itself.

Exactly I don’t know where this man come to this idea when the whole crypto world knew about the involvement of China in the increasing bitcoin community.
It’s very impossible than a country that produces bitcoin largely compared to The Who universe will come to banned this lol

Bunsomjelican

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Quote from: Leh-Meh on June 09, 2019, 02:29:30 AM

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 ?? Grin

Insider's Information for Gold and Silver

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

Don't you know that China is one of the largest country that has a bitcoin mining farm in the entire world. So how come that China will ban it? probably, possible crypto but not bitcoin itself.

Topic: Bitcoin will be junk/trash after ban in 2 big countries (Read 1458 times)