Topic: How long until India "bans" bitcoin and it's effects? (Read 1818 times)
I guess we only can be patient and especially for the people who live on the country that has been banned bitcoin due now big industry has use bitcoin so im sure one days the goverment of the country that has been banned bitcoin will unbanned bitcoin.
No one knows the timeline if how long that banning will takes but I am sure that the effect is wost all over the country and the people who benefited well with bitcoin from previous years. How greed s their government and how could it help with the government if they continued bans on this crypto currency, thats a great devastations of their economy such a non sense decision of their leaders, and I hope that will not stay longer.
Govs can't have this freedom go on too long, how deep of a correction when they " ban" it?
Dude noone can ban bitcoin. Or do you bow down to every single law and thing your government does ? It would cause havoc and uorise that is all it will do. It will just plain piss people off.
That is the reason more and more people are using the bitcoin.
Govs can't have this freedom go on too long, how deep of a correction when they " ban" it?
Dude noone can ban bitcoin. Or do you bow down to every single law and thing your government does ? It would cause havoc and uorise that is all it will do. It will just plain piss people off.
RBI keeps threatening and news channels too post all negative factors of bitcoins. I know that the Indian market is too small to affect bitcoins as a whole but it will affect many users from India if the currency is declared illegal here.
Modi has already passed a law on those who earn big loads of gold and hence bitcoin is not something that can escape for long. If some big trader or exchange website shuts down, we can see the ban coming soon.
Modi has already passed a law on those who earn big loads of gold and hence bitcoin is not something that can escape for long. If some big trader or exchange website shuts down, we can see the ban coming soon.
Here is a good article on India's cash ban.
tl:dr the cash ban and drive towards digital payments is a joint effort between the Indian government and USAID.
Well worth the read
"A Well Kept Open Secret"
http://www.globalresearch.ca/a-well-kept-open-secret-washington-is-behind-indias-brutal-demonetization-project/5566167
tl:dr the cash ban and drive towards digital payments is a joint effort between the Indian government and USAID.
Well worth the read
"A Well Kept Open Secret"
http://www.globalresearch.ca/a-well-kept-open-secret-washington-is-behind-indias-brutal-demonetization-project/5566167
India is a democracy though - there is every chance that the population will get cross and throw Modi out. And the new govt will ensure that there is plenty of cash, lest they get thrown out too.
Here is a good article on India's cash ban.
tl:dr the cash ban and drive towards digital payments is a joint effort between the Indian government and USAID.
Well worth the read
"A Well Kept Open Secret"
http://www.globalresearch.ca/a-well-kept-open-secret-washington-is-behind-indias-brutal-demonetization-project/5566167
tl:dr the cash ban and drive towards digital payments is a joint effort between the Indian government and USAID.
Well worth the read
"A Well Kept Open Secret"
http://www.globalresearch.ca/a-well-kept-open-secret-washington-is-behind-indias-brutal-demonetization-project/5566167
Obviously, there's no reason for Indian authorities to view bitcoin as a threat to their grip on the monetary system. Yet the move to phase the banknotes out was dubious at best. So, who knows what's on their minds. Anyway, it won't have any major influence on the price.
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They'll ban gold before they ban bitcoin. Bitcoin is still deep under the radar in India, only a few people in the loop know about it.
I totally agree with your words that bitcoins is still deep under the radar in India.No body can even think about bitcoin as there are lot other major issues.No body talks about bitcoins and is never trending in india,so i dont think any thing will happen about bitcoin in India any time soon.
They'll ban gold before they ban bitcoin. Bitcoin is still deep under the radar in India, only a few people in the loop know about it.
I totally agree with your words that bitcoins is still deep under the radar in India.No body can even think about bitcoin as there are lot other major issues.No body talks about bitcoins and is never trending in india,so i dont think any thing will happen about bitcoin in India any time soon. 
Govs can't have this freedom go on too long, how deep of a correction when they " ban" it?
Probably when the government understand what bitcoin is and adopt bitcoin and wanted Bitcoin by themselves, that would be the time they will ban bitcoin. Correction of bitcoin price if isolated only in India won't affect the bitcoin price at all, unless there is some whales who capitalize on the news and spread FUD across the internet then, probably a dip effect will be -$200+
the news has to be big itself if they want to capitalize on it and use it as an FUD force to push the price down. and news of India banning bitcoin is not even medium big! a big news was a big exchange like Bitfinex getting hacked and seemingly big number of coins stolen. the whole Indian volume is not even half that amount.
Govs can't have this freedom go on too long, how deep of a correction when they " ban" it?
Probably when the government understand what bitcoin is and adopt bitcoin and wanted Bitcoin by themselves, that would be the time they will ban bitcoin. Correction of bitcoin price if isolated only in India won't affect the bitcoin price at all, unless there is some whales who capitalize on the news and spread FUD across the internet then, probably a dip effect will be -$200+
They'll ban gold before they ban bitcoin. Bitcoin is still deep under the radar in India, only a few people in the loop know about it.
Bitcoin "ban" won't happen any more. It's not possible to ban it and it's a big industry right now.
To control and use bitcoin you just need your own computer. That's it. How do you want them to ban it ?
To control and use bitcoin you just need your own computer. That's it. How do you want them to ban it ?
The India will not ban the bitcoin as it s just a virtual goods.
Govs can't have this freedom go on too long, how deep of a correction when they " ban" it?
As long as Bitcoin isn't bothering governments too much in the way that they experience a serious negative effect, then nothing will happen. I think as Bitcoin gets more popular, and the value goes up more and more, governments will further look for ways (more than is the case right now) to tax Bitcoin and crypto in general. Another aspect of Bitcoin becoming bigger is that it gives banks and governments more incentive to improve their banking/payment system. If they do happen to ban Bitcoin, then perhaps you'll see a short lasting panic dump, but that will only last till people come to sense and realize that India at this point isn't anything other than peanuts.
Bitcoin "ban" won't happen any more. It's not possible to ban it and it's a big industry right now.
To control and use bitcoin you just need your own computer. That's it. How do you want them to ban it ?
To control and use bitcoin you just need your own computer. That's it. How do you want them to ban it ?
While a ban won't be entirely successful (see torrenting) my point is that any attempted 'ban' - likely from China - leads to some kind of correction. It might be short lived and complete FUD, but some think of it this way: in an era of decreasing government revenues, increased costs (social security, health etc) governments are going to hit up the population for more money. It's coming and it is naive to think that governments won't have a plan to try to stop it. I think bitcoin is big enough to ride it out. It might be when bitcoin gets 10x bigger, I don't know, but at some stage they'll again demonize it as drug money, tax cheats, terrorist driven etc etc.
How they'll do it depends on where the ban comes from.
Bitcoin "ban" won't happen any more. It's not possible to ban it and it's a big industry right now.
To control and use bitcoin you just need your own computer. That's it. How do you want them to ban it ?
To control and use bitcoin you just need your own computer. That's it. How do you want them to ban it ?
they don't seem to have either banned or thought about banning bitcoin in the past 7 years and i don't see any reason for that to change. and as others said i also agree that their market has no effect on bitcoin price.
but i hope they don't do it because it is a very stupid move at this point and it will change nothing apart from the way people buy bitcoin.
but i hope they don't do it because it is a very stupid move at this point and it will change nothing apart from the way people buy bitcoin.
I'm more concerned about another China ban
I thought that China is the main supported of Bitcoin, why they would suddenly ban it? It will officially disrupt their dominance over BTC through mining.And knowing Chinese citizens they still would use and mine Bitcoin anyway, they just do it in secret. So it is hard to tell how it will potentially affect bitcoin price in the long run.
It's the effect the "news" of a ban has. Selling wouldn't just come from China.
Its a pretty sure bet that at some stage of this bull run news of a potential ban will break and we will have a correction. And the more bitcoin grows the more likely it will need to ward off this government threat. A lot will depend on how economies are faring at that time. Will high denomination notes be banned anywhere else? Any bank runs or bail ins?
Counteracting any news of a China ban, plenty of renewed interest from places where bitcoin had made minimal inroads (India, Venezuela). Plus stronger USD is a weakening of emerging market currencies (biggest eg is China although Yuan devaluation is more than just USD). Solid reasons to use bitcoin to retain value when its is heading in opposite direction of most national currencies.
Govs can't have this freedom go on too long, how deep of a correction when they " ban" it?
I don't think Indian government has any reason to ban btc also it doesn't even care about it much, there has been very little mention about it only a bit more in past month because of the demonization. And even if that happens that would have very less to no impact on bitcoin market cap or price because 90% of users will still continue to use btc, since as you know there is no true way to 'ban' bitcoin. Jump to: