Topic: India just BANNED Bitcoin? Will BTC now crash? - page 10. (Read 2611 times)
Nope. Bitcoin banned in one country will not make any much effect, on the same time other country may open the door for Bitcoin. Bitcoin have been accepted by most digital savvy countries and countries like Inida don't have much infrastructure to support internet to have Bitcoin as legal tender is the cause for their ban I think.
The government of India said that they are going to eliminate the usage of cryptocurrencies but they HAVE NOT banned it yet. If you look closely to the statement of finance minister of India, he says
Wrong interpretation: Bitcoin is illegal.
Correct interpretation: Bitcoin cannot be used as legal tender. Bitcoin cannot be used for illegitimate activities.
* No, India Isn’t Banning Bitcoin as Mainstream Media Gets it Wrong [Again].
Moral of the story: Never trust the stories from the media.
Wrong interpretation: Bitcoin is illegal.
Correct interpretation: Bitcoin cannot be used as legal tender. Bitcoin cannot be used for illegitimate activities.
* No, India Isn’t Banning Bitcoin as Mainstream Media Gets it Wrong [Again].
Moral of the story: Never trust the stories from the media.
But then you are agreeing that Bitcoin is not legal tender
bitcoin is now legal in Jamaica ....what however is need now is infrastructure as currently no one from the country can buy bitcoins directly ....it would be great if we could set up a bitcoins exchange in Jamaica .. they could call themselves the pilgrims of Jamaican bitcoins, perhaps even start a church ( they love churches in Jamaica) to make it more readily accepted.
India just BANNED Bitcoin? Will BTC now crash?
it is bad info for bitcoin but it seems that the info is not very influential for bitcoin price because if you know a lot of issues of the state that bitcoin banned and make the price down it is a trick to get a cheap price if you do not realize it?
Similar news is spread deliberately to create panic and bring down prices for bitcoin. Because of this bitcoin fell to 6000 dollars.
It's good that the coin has recovered now.
It's good that the coin has recovered now.
The government of India said that they are going to eliminate the usage of cryptocurrencies but they HAVE NOT banned it yet. If you look closely to the statement of finance minister of India, he says
Wrong interpretation: Bitcoin is illegal.
Correct interpretation: Bitcoin cannot be used as legal tender. Bitcoin cannot be used for illegitimate activities.
* No, India Isn’t Banning Bitcoin as Mainstream Media Gets it Wrong [Again].
Moral of the story: Never trust the stories from the media.
Wrong interpretation: Bitcoin is illegal.
Correct interpretation: Bitcoin cannot be used as legal tender. Bitcoin cannot be used for illegitimate activities.
* No, India Isn’t Banning Bitcoin as Mainstream Media Gets it Wrong [Again].
Moral of the story: Never trust the stories from the media.
I guess not because I guess bitcoin investro is not much from there so if india forbid bitcoin it might just have little impact on bitcoin
India hasn't banned bitcoin in India in a correct sense the finance minister just said that they will be studying about the blockchain technology how it works and other things but that still caused many Indians to panic sell their bitcoins maybe which resulted in an increase in supply and caused the prices to go down and wherever or on anything that can be thought of taxing Indian government is there already trying to tax it.
I doubt this ban will be real. Most likely it's just disinformation once again or market manipulation. There was already similar information about South Korea.
Bitcoin already crash and i think that there is no way for bitcoin to get cheaper or reach lower prices because it is stabling at the price range of 8,000-9,000 USD and i believed that in the future, bitcoin will have an another run and it will give a lot of profits for the people who are held their bitcoin and also who bought when the price of bitcoin is low.
I have read the article too and to my understanding they did not cited out that Bitcoin will be banned in India but rather eliminate the usage of cryptocurrencies in criminal cases because these digital currencies are untraceable which is true. There has not yet any solid confirmation with the banning of cryptocurrencies but we'll see in the next few months if it will be implemented and if so then bitcoin for sure will dip down again.
India just BANNED Bitcoin? Will BTC now crash?
Actually Bitcoin never has been accepted Bitcoin at all, Bitcoin isn't legit at India from the start but this news is actually nervous for us. More and more country are keep banning Bitcoin is a bad signal for holding Bitcoin because it will make the price going deep down.
I think you should be careful to check whether India is banning bitcoin, and I see that India is not banning bitcoin. Instead of banning bitcoin, the Indian government has made people wary of bitcoin.
I think you have to read this , and you will understand very well.
https://cointelegraph.com/news/india-bitcoin-prices-drop-as-media-misinterprets-govts-regulation-speech
https://cointelegraph.com/news/india-bitcoin-prices-drop-as-media-misinterprets-govts-regulation-speech
Yeah, I read this article. The government of India wanted to eliminate the use of these cryptocurrencies in financing illegal activities or being part of the payment systems. They are intense in their fight for money laundering and the funding of terrorism that's why as I see they are very cautious when it comes to the cryptocurrency like bitcoin dominance issue. There is no confirmation that it is a "Ban" issue. Bitcoin price is volatile in nature so it is not a new headline if it crashed or soared. The reality is bitcoin is still there many are interested about it.
This info was nothing but a strategic by the big players in bitcoin to forces bitcoin holders to rush into panic selling and for them to have an advantage of buying bitcoin at a cheaper price due to panic. Because the news of bitcoin being ban in China was an unconfirmed news and even due the news is true there are some of bitcoin lovers who will never allowed such ban to totally affect they transactions in bitcoin, this might only affect bitcoin price for some time but before you know it the price will rise again.
why is it people in hre always resort to consipracy theories?
This info was nothing but a strategic by the big players in bitcoin to forces bitcoin holders to rush into panic selling and for them to have an advantage of buying bitcoin at a cheaper price due to panic. Because the news of bitcoin being ban in China was an unconfirmed news and even due the news is true there are some of bitcoin lovers who will never allowed such ban to totally affect they transactions in bitcoin, this might only affect bitcoin price for some time but before you know it the price will rise again.
India just BANNED Bitcoin? Will BTC now crash?
Ico's are also banned in china back before in 2017 and it truly decrease the prices of cryptocurrency in the market however there are still people who are interested in bitcoins and that is the reason why all of the cryptocurrency has raised its value in the market last december. It only means that banning of bitcoins in some of the country will not affect market that much because it the prices will still go back to normal after a few months.
No, India had not banned bitcoin / cryptocurrency. Refer to this article
https://www.forbes.com/sites/sindhujabalaji/2018/02/06/india-is-not-banning-cryptocurrency-heres-what-it-is-doing-instead/#66f817d37c6f
https://www.forbes.com/sites/sindhujabalaji/2018/02/06/india-is-not-banning-cryptocurrency-heres-what-it-is-doing-instead/#66f817d37c6f
at times like when the recent drop happened it really doesn't matter if they banned it or not. even if they mass adopted it as a legal way of payment like Japan it still wouldn't have made any differences because the market makers were crashing the price and panic sellers were jumping off the ship throwing away their valuable bitcoins.
India just BANNED Bitcoin? Will BTC now crash?
Yea, this has been documented and as usual this has received quite an uproar on the bitcoin community well at least from the circles that I have been to. However, we can still use this opportunity to turn around the bad portrayal and image that is being castes on bitcoin but we can still work around this and use it towards the empowerment of bitcoin and for media coverage
I have so many topics that ask this kind of question and I am terrified how forum member responds. For me, even tough there are so many band that happen the bitcoin will still raise. India is considered a huge country but not as huge as China but there could be effect of the ban. People in India that is hard core bitcoin miners, trader or holders could fly in the near country to continue their works. But as you can see, a couple days ago USA announce that they will not ban crypto, which then resulted in the bounce back of price of almost all cryptos. I mean, just one country ban it, price drops while another country support it price goes up again.
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