Crypto is not a legal tender in India - page 2.

AgonyPaid

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Quote from: zombies on February 01, 2018, 05:05:00 AM

https://qz.com/1195316/budget-2018-busts-bitcoin-arun-jaitley-has-just-killed-indias-cryptocurrency-party/amp/

Another nail in the cofin. More countries to follow. Its happening faster than I thought and market is collapsing like nine pins after this news. Where are those HODL people? ROFL

HODL HODL HODL ROFL ROFL ROFL

Asia I see at all decided to boycott crypto-currencies, something they did not like. Well, I think it will not hit hard on the already falling market, there will simply be more panic.

Kirja

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No Zombie, we must accept fact, that cryptos are under big influence of whales, they take every oportunity to push market right direction. That means, when now is some not important message of some indian minister, they will take this oportunity and send market lover and buy cheap. When there will be some possitive message, they will pump it and sell high. Its normal. As small trader, you must be cautious and buy when it falling (now) and sell when it rises. Or you can hold coins for bigger profit.

zombies

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India is a strong player in the market. It is proved by the recent big crash.

Market has collapsed like anything. To all those clown's who pretended it will not have any affect can rest now.

wklt2002

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AFAIK they're not banning crypto, they just stated they want to shut down illegal activities that are done using cryptos. They actually stated they see a bright future in cryptos, and they want to find good (legal) ways to work with it.

hovrah

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Quote from: SamboNZ on February 01, 2018, 01:54:54 PM

I would probably say that its a similar situation to S.Korea wherein due to reasons of having a hard time regulating cryptocurrency, So they move the easier route to not make it legal but somewhat now there is another news that its a FUD but i think in the long run they would accept digital currencies in the future.

To tell the truth, I'm very surprised that India is not a bit tuned to support crypto currency. Apparently there are some problems with the government, Although I still believed that I can not legalize the crypto currency almost in the near future. But maybe I'm wrong.

kraterion

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🚀🚀 ATHERO.IO 🚀🚀

Quote from: Cart on February 01, 2018, 01:03:55 PM

I see there is an interesting development with China and India. They want to control their inhabitants and how they spend their money

Nice thought, they are scarred as hell

. However I really don't care about India, for one country banning btc (lol, banning, you can't ban something that is decentralized) there are super bullish countries on crypto out there, like Japan, Singapore, Switzerland and so on

SamboNZ

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I would probably say that its a similar situation to S.Korea wherein due to reasons of having a hard time regulating cryptocurrency, So they move the easier route to not make it legal but somewhat now there is another news that its a FUD but i think in the long run they would accept digital currencies in the future.

Yaunfitda

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This is not a new. The government already stated a few months back that cyrpto is not legal tender but they don't have regulatory body to declare that its illegal to own crypto. Even RBI says that its not illegal. The OP is really trolling and I'm sure that he has been paid handsomely to spread fear amongst the community.

This is not the cause of the current market crash for me. There's some deeper reason behind that we still unable to uncover as of this time. China, South Korea or India's news are over now. When things settles down in the next couple of days we will see what causes this fall. Not just pure FUD.

Hazara

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ooh thats bad, but why ?? this technology can make ppl rich

Packers1985

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CHEERS

Come guys, Dont give importance to this thread. Check this guy's previous threads only FUD posts.
So just chill and reap the rewards.

screwUdriver

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Quote from: zombies on February 01, 2018, 09:50:31 AM

Quote from: Cmoh on February 01, 2018, 09:48:43 AM

If, not legal then how the buzzing Jio coin in the sky. Only officially not legal otherwise everything is running under the table in India.

Jio coin is a rumor created by stupid people. There is no official word on it.

According to India's Finance Minister Aruna Jayley, the government does not recognize a bitcoin as a legal tender.The Central Bank of India did not license of the companies who work with cryptocurrency.

Cart

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I see there is an interesting development with China and India. They want to control their inhabitants and how they spend their money

Gutenhans

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Call me Mr. Hans

Quote from: zombies on February 01, 2018, 05:05:00 AM

https://qz.com/1195316/budget-2018-busts-bitcoin-arun-jaitley-has-just-killed-indias-cryptocurrency-party/amp/

Another nail in the cofin. More countries to follow. Its happening faster than I thought and market is collapsing like nine pins after this news. Where are those HODL people? ROFL

HODL HODL HODL ROFL ROFL ROFL

Got news for you... i don't know ONE country in which bitcoin is legal tender (where government accepts people paying in BTC)

is this in any way news? this was before and will continue to be this way. I would say even if mass adoption would happen the governments know better than letting people "print" their own money when until now we came to them for money.

I know for a fact that i'm lying myself when i say i am free as long as i will need "funny money" to live my life. I'm just a slave doing what get's me payed. The more i want to chase my confort/financial goals the more i have to work for the money printer.

But seems like better times are coming very fast. So many good crowdfunding projects, even bad ones like casinos now offer a transparency never seen before and they compete in offering investors a nice % from profits.

kpatel

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what India's leading bitcoin and cryptocurrency exchange zebpay says
https://blog.zebpay.com/blockchain-and-cryptocurrency-committee-of-iamai-on-references-to-cryptocurrency-by-the-finance-5d0cc63d61c7

and other news i found

https://cointelegraph.com/news/india-bitcoin-prices-drop-as-media-misinterprets-govts-regulation-speech

Devilsa0028

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It's been two days since I have started trading.yes,I'm from India and no matter what I will be holding for years to come.no one can stop crypto currency trading because it has a unique technology (in fact a revolution).all this drama comes to an end in no time for sure.
Look at the chart and see the drama these politicians have created.a day before the announcement they sold the bitcoin and once the price fell,they got into it again and made money and the Indian media,better not to discuss about it.just have patience for few days and see how indirectly this government is going to support cryptocurrency again.

zombies

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Quote from: Cmoh on February 01, 2018, 09:48:43 AM

If, not legal then how the buzzing Jio coin in the sky. Only officially not legal otherwise everything is running under the table in India.

Jio coin is a rumor created by stupid people. There is no official word on it.

Cmoh

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If, not legal then how the buzzing Jio coin in the sky. Only officially not legal otherwise everything is running under the table in India.

Bybox

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Quote from: disconnectme on February 01, 2018, 09:10:44 AM

It is even more disturbing now to see people in the space helping these government to spread their FUD, because it is not legal tender in India doesn't mean another country won't accept it, Japan is one of the first country to warm their heart to Crypto and that has not changed, this is the future whether you like it or not.

Maybe OP is buying bitcoin at ATH in the last few months and recently dumping all his bitcoin because he's too scared. Now he tries to buy Bitcoin lower by spreading FUD. Grin

Team HODL HODL HODL

disconnectme

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It is even more disturbing now to see people in the space helping these government to spread their FUD, because it is not legal tender in India doesn't mean another country won't accept it, Japan is one of the first country to warm their heart to Crypto and that has not changed, this is the future whether you like it or not.

preshpr1nce

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Another post by this guy? we need a health check or something to post on this forum.
Even if you are correct, which you are not, you couldn't be any more wrong with you recent posts, to ROFL ROFL ROFL at people losing money just sums up your character, absolute peanut.

Let's look at this

Quote

As compared to other countries like the US, the UK and China where the total Bitcoin trade value is around Rs. 10,000 crore per day, India still lags at Rs 500 crore (per year) with 700-800 Bitcoin traded every day.

I've given up trying to find an article I read last month, but it also stated Australia (a country with just over 20 million people) has a higher BTC volume than India.
Between US, UK and China combined you have 200x the trade volume of India.

Even if India bans crypto, it's not going to change anything.
As long as the USA keeps it legal it'll continue to grow, if it were banned in my country I would still trade and just go on a holiday to cash out.

Topic: Crypto is not a legal tender in India - page 2. (Read 419 times)