Topic: India and Russia ban Bitcoin - page 2. (Read 1709 times)
They are not going to ban bitcoin because they can't, but they will make it impossible and illegal for their people to withdraw fiat to their bank accounts that comes from any crypto exchange.
such a bad news, it seems that ban almost happen to many countries. Actually why the country ban it, we are bitcoiner do trading and mining with its own risk and we prepared for it. But it's already a rule we can't deny. Yeah also in my country the governor of my central bank plan to ban fintech and e commerce that use bitcoin 
Gross National Product of Russia (2016): 1283 USD Billion
GPD of India (2016): 2263.5 USD Billion
compare:
GPD of Germany (2016): 3466.7 USD Billion
GPD of Japan (2016): 4939.38 USD Billion
GPD of USA (2016) 18569.10 USD Billion
those possible bans would not affect the global bitcoin price in long-term perspective.
though the local prices on black-markets of Russia & India may rise dramatically
GPD of India (2016): 2263.5 USD Billion
compare:
GPD of Germany (2016): 3466.7 USD Billion
GPD of Japan (2016): 4939.38 USD Billion
GPD of USA (2016) 18569.10 USD Billion
those possible bans would not affect the global bitcoin price in long-term perspective.
though the local prices on black-markets of Russia & India may rise dramatically
Yes, but policy concern crypto will influence on social reality in nearest future
Gross National Product of Russia (2016): 1283 USD Billion
GPD of India (2016): 2263.5 USD Billion
compare:
GPD of Germany (2016): 3466.7 USD Billion
GPD of Japan (2016): 4939.38 USD Billion
GPD of USA (2016) 18569.10 USD Billion
those possible bans would not affect the global bitcoin price in long-term perspective.
though the local prices on black-markets of Russia & India may rise dramatically
GPD of India (2016): 2263.5 USD Billion
compare:
GPD of Germany (2016): 3466.7 USD Billion
GPD of Japan (2016): 4939.38 USD Billion
GPD of USA (2016) 18569.10 USD Billion
those possible bans would not affect the global bitcoin price in long-term perspective.
though the local prices on black-markets of Russia & India may rise dramatically
arab countries are starting to consider banning bitcoin also . some have already did . Let's hope no country could have an effect on it .
It is really bad as two of the largest marketplace in the world are banned now for bitcoin. Hope the will soon withdraw their decision to invite for the investment here.
Surely, they will, cause either they would have no choice or they are completely stupid and die soon. Deadly institutions.
It just can't be the truth about Russian BTC ban cos there's the law to be prepared for summer 18. It's kinda old information over there. Peace.
It is really bad as two of the largest marketplace in the world are banned now for bitcoin. Hope the will soon withdraw their decision to invite for the investment here.
Russia changes her mind time to time and do it oppositely 
That's because they don't really know what they want to do with cryptocurrencies. First we had news about Putin being interested in ETH, then we had news about their government controlled cryptocurrency and now there are voices saying they should ban it all. People have frequently quoted this well known phrase ending with "and then you win". It seems we're still in the "they fight you" phase.
a government panel is said to have advised closing cryptocurrency dealers in India
This doesn't mean anything. They can keep advising it as long as they please. You need legislation for it to be legit.
Yes, but be sure, that Putin and main core of russian oligarchs know about bitcoin and other crypto, and they a buying cryptos in terribly huge volumes. That's for usual people they are not confident how to do with BTC.
That would not have any impact on bitcoin's price.I would say that the indian government is totally confused on deciding about bitcoin.More over,they are in an idea to release their own cryptocoin named Lakshmi.
Even if Russia and India ban bitcoin,people would use the same technique which chinese used.They would just shift trade to counter sales.They would just sell and buy bitcoins P2P.They might use just telegram chats for trade which are well encrypted.
So,whatever means they would use to ban bitcoin,it could not be stopped and at last,they would have to compromise by regulating bitcoin.
Even if Russia and India ban bitcoin,people would use the same technique which chinese used.They would just shift trade to counter sales.They would just sell and buy bitcoins P2P.They might use just telegram chats for trade which are well encrypted.
So,whatever means they would use to ban bitcoin,it could not be stopped and at last,they would have to compromise by regulating bitcoin.
Not only India and Russia wanna ban Bitcoin, there are a lot of countries wanna do the same but it's not easy to control Bitcoin to ban it ). But I don't really care about it if they are some developing or small country. But it'll be different if it's Japan, in which Bitcoin was born, or US.
). But I don't really care about it if they are some developing or small country. But it'll be different if it's Japan, in which Bitcoin was born, or US. 
Russia changes her mind time to time and do it oppositely
That's because they don't really know what they want to do with cryptocurrencies. First we had news about Putin being interested in ETH, then we had news about their government controlled cryptocurrency and now there are voices saying they should ban it all. People have frequently quoted this well known phrase ending with "and then you win". It seems we're still in the "they fight you" phase.
a government panel is said to have advised closing cryptocurrency dealers in India
This doesn't mean anything. They can keep advising it as long as they please. You need legislation for it to be legit.
Following many smaller countries that have recently banned Bitcoin, we are now into the end game.
India is banning Bitcoin : https://economictimes.indiatimes.com/markets/stocks/news/war-on-bitcoin-govt-panel-seeks-crackdown-on-crypto-currency-dealers-in-india/articleshow/61450361.cms
Russia is banning Bitcoin : https://www.c[Suspicious link removed]m/2017/10/10/russian-central-bank-plans-to-ban-websites-that-offer-bitcoins.html
India is banning Bitcoin : https://economictimes.indiatimes.com/markets/stocks/news/war-on-bitcoin-govt-panel-seeks-crackdown-on-crypto-currency-dealers-in-india/articleshow/61450361.cms
Russia is banning Bitcoin : https://www.c[Suspicious link removed]m/2017/10/10/russian-central-bank-plans-to-ban-websites-that-offer-bitcoins.html
Russia changes her mind time to time and do it oppositely
let forbid-people will find how to bypass prohibitions, and change coins to the unchallenged currency of the state
These articles report about the two governments contemplating the idea of blocking existing websites that provide direct access to Bitcoin. The plan to really ban a financial instrument with such a huge market capitalization is not obvious.
By the way, is it realistic? Although there is nothing that can stop a government or central bank from banning Bitcoin (& a few have already done so), most would not go that far for two reasons:
- The Streisand effect
- A ban on Bitcoin is difficult to enforce.
You can read more here: http://btcexchangemarkets.com/can-any-government-ban-bitcoin
By the way, is it realistic? Although there is nothing that can stop a government or central bank from banning Bitcoin (& a few have already done so), most would not go that far for two reasons:
- The Streisand effect
- A ban on Bitcoin is difficult to enforce.
You can read more here: http://btcexchangemarkets.com/can-any-government-ban-bitcoin
After the Ban of China so many countries decided to ban the BTC.
China was going to ban the ICO and not bitcoins. Also for now, china is not banning ICO and even banning bitcoins is not that easy. Banning bitcoins will cause a lot of disturbance globally which will highly affect the price of bitcoins. Bitcoins are made much more profitable but such news about banning bitcoins, make bitcoins go cheaper. Mostly these news are not trustworthy and can be simply ignored unlesss we have some official news. Until that we can continue having good profits in bitcoins.
Russia is banning Bitcoin : https://www.cnbc.com/2017/10/10/russian-central-bank-plans-to-ban-websites-that-offer-bitcoins.html
This is still rumors, I have not seen any reliable sources about this news. It also does not have because both countries ban the currency but I will wait to see the news of the next days, hence we will see if this today will confirm or was just a lie.
Seriously? Maybe they are just scared of what can Bitcoin affect their own currency and economy. Yet, i still believe that bitcoin would be impossible to stop because of how wide the internet is. i'm hoping it wouldn't be banned in my country.
After the Ban of China so many countries decided to ban the BTC.
China was going to ban the ICO and not bitcoins. Also for now, china is not banning ICO and even banning bitcoins is not that easy. Banning bitcoins will cause a lot of disturbance globally which will highly affect the price of bitcoins. Bitcoins are made much more profitable but such news about banning bitcoins, make bitcoins go cheaper. Mostly these news are not trustworthy and can be simply ignored unlesss we have some official news. Until that we can continue having good profits in bitcoins. Jump to: