Bitcoin will be junk/trash after ban in 2 big countries - page 9.

Caladonian

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Quote from: shoreno on June 09, 2019, 07:57:11 AM

Quote from: phamminhtan on June 09, 2019, 07:31:14 AM

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.

Haunebu

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Quote from: shoreno on June 09, 2019, 07:57:11 AM

Quote from: phamminhtan on June 09, 2019, 07:31:14 AM

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.

shoreno

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Quote from: phamminhtan on June 09, 2019, 07:31:14 AM

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 .

Question123

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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.

phamminhtan

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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.

xWolfx

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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.

acroman08

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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.

Lucius

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Quote from: ?? on ??

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.

Red-Apple

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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 Wink

CryptoBry

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Quote from: squatter on June 09, 2019, 03:41:08 AM

Quote from: Leh-Meh on June 09, 2019, 03:29:30 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.

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.

Adriano2010

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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?

Haunebu

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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.

MMysterious

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Quote from: Leh-Meh on June 09, 2019, 03:29:30 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

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.

goaldigger

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Quote from: Leh-Meh on June 09, 2019, 03:29:30 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

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.

Janation

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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.

kaya11

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Quote from: Leh-Meh on June 09, 2019, 03:29:30 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

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.

Beerwizzard

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Quote from: bittick on June 09, 2019, 04:38:22 AM

Quote from: Beerwizzard on June 09, 2019, 04:28:11 AM

Quote from: Leh-Meh on June 09, 2019, 03:29:30 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

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.

bittick

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Quote from: Beerwizzard on June 09, 2019, 04:28:11 AM

Quote from: Leh-Meh on June 09, 2019, 03:29:30 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

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.

BitcoinGirl.Club

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Quote from: Jet Cash on June 09, 2019, 04:29:19 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.

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.

Astvile

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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

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