Bitcoin will be junk/trash after ban in 2 big countries - page 7.

Leh-Meh

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Quote from: Tylev on June 09, 2019, 10:59:03 PM

India is a large country in the territory, and even more in population. However, this country never played a significant role for cryptocurrency. However, it is necessary to agree that the prospect for the development of cryptocurrency is large there. However, India has not yet adopted a ban on the use of cryptocurrency, a bill has been introduced there, which may never become law.The Chinese government has not yet taken a clear-cut decision on cryptocurrency. Even if the circulation of cryptocurrency will be banned in these countries, it will not affect it much, but only the rate of its spread throughout the world will slow down.

1 bitcoin $3000 or $7000, who will buy Bitcoins in India and China ?? Huh

$3000 = INR 210,000. Only "Amitabh Bachchan" will buy Bitcoins in India.

davis196

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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.

Yeah right,you could spend you time in more useful ways,instead of writing bullshit FUD posts here.
China and India are anti-bitcoin during the last 3 years.This is no secret.
USA,Japan and South Korea are the most important countries for bitcoin and all crypto.

sandra_x

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Bitcoin will still thrive whether or not it gets banned in more countries.Because these are all temporary restrictions on bitcoin,eventually we will see the relaxation of those rules as other countries built more infrastructure around bitcoin.it is already a muilti-billion dollar market and an important class for many funds managers

killat

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Unfortunately this is true..earlier it was quite in usage and trading and many entrepreneurs came up with various platforms for crypto trading but a lot of fraudulent practices happened and quite an amount of people lost money.

Since then the government put a restriction on crypto purchases and trading even through credit cards. So yeah currently the situation regarding cryptos is bad but maybe they will come up with certain regulations as cryptos are the emerging fast as the next big thing in digital currencies.

Tylev

full member

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India is a large country in the territory, and even more in population. However, this country never played a significant role for cryptocurrency. However, it is necessary to agree that the prospect for the development of cryptocurrency is large there. However, India has not yet adopted a ban on the use of cryptocurrency, a bill has been introduced there, which may never become law.
The Chinese government has not yet taken a clear-cut decision on cryptocurrency.
Even if the circulation of cryptocurrency will be banned in these countries, it will not affect it much, but only the rate of its spread throughout the world will slow down.

squatter

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STOP SNITCHIN'

Quote from: Jet Cash on June 09, 2019, 03:29:19 AM

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.

I always found these conspiracy theories -- a common one is that the NSA created Bitcoin -- sort of outlandish. I doubt these people would think that anonymously launching Bitcoin on an obscure mailing list would have succeeded. If it was a serious move by some elite group, they would have made a more concerted effort to see it succeed. Instead, hardly anyone used Bitcoin at all in its first year of existence.

btc_angela

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Short term, yes maybe it could have a significant effect on the price. However, we all know that no one can ban bitcoin, it's decentralise in nature. And those people who realise bitcoin's potential will still be investing on them, whether it was ban in their country or not, I reckon.

costanos02

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That is impossible, bitcoin is widely known for many countries if bitcoin is ban in this countries that is not a big loss for bitcoin, it is their loss. Soon they will realized that they made a wrong decision.

coin-investor

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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.

That's the sad part India holders if they want to sell their Bitcoin would have to do it within 90 days, or face prosecution, but in I am in their shoes I will just transfer this to a new wallet possible a hardware wallet and kept and only sell it when it reaches 10 times of the price when I got it but of course I will not trade it in India will just go to a country where I can trade it.

blockman

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Vave.com - Crypto Casino

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.

Being banned in those 2 countries means it is prohibited but it doesn't mean that it's worthless. Give someone there bitcoin who can acknowledge the value of bitcoin and sees his reaction.

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

But who will buy 1 Bitcoin for $7000 ??

Look on exchanges and see how many would love to buy that at that discount.

Leh-Meh

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Quote from: Capt00 on June 09, 2019, 06:19:57 PM

India it is quite new to crypto and it never establish well than of the other country. Basing of their economical status, it is really hard for them to adopt crypto rather than to stick into their old investment and so using local currency. And this won't give a huge effect into crypto prices.

Now $1 = INR 70. Indian rupee could be the worst performing currency internationally.

Capt00

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Quote from: jakelyson on June 09, 2019, 05:37:32 PM

This ban is just a minor set back to bitcoin. Besides, it is just a proposal in India, not yet a full law. This remains to be approved. And China is still using bitcoin.

Quote from: joniboini on June 09, 2019, 03:26:21 AM

Quote from: ?? on ??

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.

It is quite obvious that the fear for Bitcoin ban in India is affecting the price of bitcoin right now. I just want to see how low the price could be driven because of this fear.

India it is quite new to crypto and it never establish well than of the other country. Basing of their economical status, it is really hard for them to adopt crypto rather than to stick into their old investment and so using local currency. And this won't give a huge effect into crypto prices.

We know China don't allow their people to use crypto since last year but their people tried to sneak away from this and even created exchanges. So even they ban crypto but they can't stop people to engaged and give support into crypto.

jakelyson

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This ban is just a minor set back to bitcoin. Besides, it is just a proposal in India, not yet a full law. This remains to be approved. And China is still using bitcoin.

Quote from: joniboini on June 09, 2019, 03:26:21 AM

Quote from: ?? on ??

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.

It is quite obvious that the fear for Bitcoin ban in India is affecting the price of bitcoin right now. I just want to see how low the price could be driven because of this fear.

feryjhie

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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.

why do you think that bitcoin is worthless in China? if you take a look at this website https://coin.dance/volume/localbitcoins/CNY total volume trading on Localbitcoin for CNY is still high around 34M Chinese Yuan
on China they already ban bitcoin from July 2018 so i think if India will ban it later the bitcoin user will find a way to trade bitcoin

rdluffy

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In a short term, maybe will affect prices, but in long term I think there's no difference
People will continue to gain, trade and invest in BTC, there always ways to do that

ralle14

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Quote from: ?? on ??

Quote from: Haunebu on June 09, 2019, 04:26:24 AM

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?

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

It's banned but not fully banned though because on Wikipedia, it shows that Bitcoin is illegal in India but people are still trading Bitcoin.

The volumes on these two exchanges(Paxful & Localbitcoins) remains the same and it doesn't seem to be crashing despite the recent news about the proposal.

The threads i've read in this board are all similar, the sources they shared all points to the said proposal.

Bdstar

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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.

These two countries are over populated and bitcoin lost many investor but People in india still use bitcoin using VPN and secondary bitcoin have millions of user left in worldwide without these two countries.So, Bitcoin wouldn’t be broken for just 2 countries ban.

Pagri

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Bitcoin has been able to emerge and evolve without depending on a specific country, but with the support of a whole global network of users who have been in charge of placing bitcoin in its current position, so that the internal decisions that two countries make regarding bitcoin should not influence too much in the future of bitcoin, so we can remain calm in our future expectations of the market.

Worst crises have been faced in the bitcoin ecosystem that in one way or another have been overcome and have served to strengthen the bitcoin, so that very few effects I think can be suffered by the decisions of China and India, that in addition they will not necessarily be definitive and perhaps they will change with the passage of time.

wdnj

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INDIA and CHINA are 2 big countries on this? how you came up on this?
They are not big player in this crypto currency.
getting a buyer for 7,000 USD is not impossible ass BTC is worth more than that now!

josephdd1

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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.

all are false information.. bitcoin ban thing was denied by that countries central bank rbi and it is only a proposal created by one group of politicians. not actual law.
Not too sure about that bolywood star thing you are saying but most of what you say is just baseless fud..
India tried banning, tiktok, their own movies showing rape culture, food yes they tried banning beef lol thats pretty stupid. They even tried banning porn, trying to ban btc would be similar to them trying to ban porn lol
They're crazy that way.. even my country's central bank thinks btc will not fulfil basic roles but I think these are wrong judgements..made by stupid people. dont pay attention to such fud.

Topic: Bitcoin will be junk/trash after ban in 2 big countries - page 7. (Read 1458 times)