India just BANNED Bitcoin? Will BTC now crash? - page 13.

hitrawal91

full member

Activity: 462

Merit: 101

BitcoinSN - The Real Bitcoin!!!

Quote from: alexey14 on February 01, 2018, 03:06:14 PM

India just BANNED Bitcoin? Will BTC now crash?

I think the banned is not yet confirmed as the Budget and another financial report is awaited and the major decision will be taken after that report is been disclosed. And I think banning the bitcoin in India can bring the bitcoin value down to some extent but it is necessary that it will crashes. But yes banning has made the bitcoin more weaken and also Facebook has also banned the bitcoin and other cryptocurrencies ICO's ads which were used to appear on their website and by this bitcoin has been losing its strength in this market.

hastag_80

member

Activity: 392

Merit: 11

The New Pharma-Centric Marketplace

Quote from: alexey14 on February 01, 2018, 03:06:14 PM

India just BANNED Bitcoin? Will BTC now crash?

Will,this just happened now in india that i read in article that there minister announce war of banning the wholecryptocurrency in there country,but real statement is only they announce those exchange site without tax to declare there income tax return.they prosecute those platform exchanges in there country who having a questionable income tax return,because like happen in south korea they have doubt that this will be use in money laundering and they want to use it in the proper ways.

pixie85

hero member

Activity: 2184

Merit: 531

Quote from: LeeMBlack on February 02, 2018, 09:53:13 AM

We have to wait to see how the new news emerges. Does anyone have updated information about today?

All you need to know can be found in the press section on the forum. If you're asking about updates from India, everything is in order there. No ban. As you can see people panicked and oversold their coins lowering the price to 8k USD. Some people made some huge mistakes today.

Divyanshu2710

newbie

Activity: 56

Merit: 0

I don't think so that bitcoin will crash but for safety people should sell bitcoins, atleast if they have a high number of them because if it crashed then they may have to suffer a huge loss.

heleng05

member

Activity: 322

Merit: 10

It will crash for that reason banning bitcoin in some country can make it fall for a while, and the big countries that gets banned in using it can really reduced the amount of bitcoin users that uses bitcoin as their investment to offer can really affect our bitcoins price and I really feel it now my bitcoin falls down that I can't stop it in decreasing but I trust bitcoin that it can increase it price again this coming months.

johnwest

hero member

Activity: 1106

Merit: 503

BabelFish - FISH Token Sale at Sovryn

As far as I have seen, their Finance minister said that "Bitcoin will not be used as a legal tender", the problem is their media conveyed it differently to the people. Well, thats what media does most of the time.

Sendibere

full member

Activity: 196

Merit: 101

Only the government of India banned the cryptocurrency and they discontinue to use Bitcoin. They not consider cryptocurrencies to be legal tender and will try to phase out payments using Bitcoin. They can it, because they will fight the money laundering and the funding of terrorism.

Gibreil

member

Activity: 805

Merit: 26

There is no ban that India said! They just remind the citizen that cryptocurrency is a risky asset! You can gain double profits or it may lose all of your money. Don't make some news a misleading topic! A lot of newbies are having a panic selling because of this such thread.
A lot of banning cases I've seen before, China is one of it but bitcoin still moving and ot doesn't affect even there are numerous country that bans bitcoin. Unless bitcoin will not be banned in this world and many people are using it, don't be scared to invest with bitcoin.

Jenn09

sr. member

Activity: 588

Merit: 256

https://www.spartan.casino/ #SPARTANCASINO $IRON

It is a false news so that other invester will get back their investment and thats the reason why btc price now is too low. But I think india not banning btc in their country. BTC price soon will mooning right after this situation.

Beparanf

hero member

Activity: 2954

Merit: 796

Quote from: michael shikany on February 02, 2018, 09:54:37 AM

This has been proved to be a fake news.
The Indian government is merely reminding the crowd that there is a big risk in cryptocurrency markets, and there is no ban on bitcoin.

People making FUD just for them to buy at more cheaper price, a group or organization is on planned on making fake news ro alarm holders especially newbies, it's the news that makes btc dumps and sadly those news weren't that legit.

michael shikany

member

Activity: 196

Merit: 10

The Experience Layer of the Decentralized Internet

This has been proved to be a fake news.
The Indian government is merely reminding the crowd that there is a big risk in cryptocurrency markets, and there is no ban on bitcoin.

LeeMBlack

newbie

Activity: 28

Merit: 0

We have to wait to see how the new news emerges. Does anyone have updated information about today?

sukron

newbie

Activity: 73

Merit: 0

I think that they do not ban bitcoin but they just say that bitcoin will not be a legalized currency for a country like all other countries and that is the true meaning of the unauthorized tender. But some people who do not understand think it's good as a ban and they start selling their bitcoin and they do not know that even if something happens if they do not sell their indigo the price will not decrease. If we will keep strong support with bitcoin then the price will not go down but will increase with more power and we pray for bitcoin soon in legal

Kemarit

legendary

Activity: 3080

Merit: 1353

The thing is, people reading comprehension suffered as well when crypto is booming, they can't really process and understand what they read. Once they read something with words like "banning" + crypto = panic selling. India has been on neutral grounds for the longest time, every announcement they made neither confirm or deny bitcoin being illegal in the country. Unfortunately, everyone has reading comprehension issues now and it turns into massive FUD causing the price to plummet again. Really sad though, but the damage has been done. Although I expect that those who panic sells are those investors who bought bitcoin at top price during the hysteria in December. They don't have steady hands, and immediately sells without understanding of the situation.

12tribes

member

Activity: 378

Merit: 11

I think we must encourage healthy posts and uplifting messages and stop the FUD.There's nothing as btc is going to crash. Its just the fears that trigger all these bad reports based on rumours and half truths. Upon careful investigation you might find that its not entirely true.

Alexmagn84

member

Activity: 517

Merit: 10

Quote from: darkangel11 on February 01, 2018, 03:26:33 PM

They did not ban anything! Keep selling though, you won't learn until you actually lose some money. If some people wouldn't buy high and sell low the whales and traders wouldn't be making money on them.

The most likely scenario IMO is China coming out with a news that they're deciding to open regulated crypto exchanges and everyone trying to buy back before it's too late. People are so easily manipulated...

Right sir. I agree with you sir.

stayeduptolate

hero member

Activity: 980

Merit: 502

Quote from: alexey14 on February 01, 2018, 03:06:14 PM

India just BANNED Bitcoin? Will BTC now crash?

No, India haven't banned bitcoin it's just that the finance minister of India Arun Jaitley don't like idea of cryptocurrencies as proven in the budget session held recently, but he does like the idea of the blockchain technology and he is finding ways to implement that in the country by participating with unocoin which is an Indian exchange. So I believe that he isn't gonna ban bitcoins and other cryptocurrencies, it's just that he is gonna end the illegal usage of cryptocurrencies by regulating the trades on exchanges.

suvo05

sr. member

Activity: 1162

Merit: 260

Despite of looking at the true story people are getting crazy with the media report. The finance minister of India said BTC is not a legal tender of RBI(reserve bank of India) And they are trying to control any kind of illegitimate activity of crypto currency. In any one want see the official statement, just watch the video- https://www.youtube.com/watch?v=hFDUpzTr-_c or search youtube Arun Jaitley (Finance minister) on bitcoin.

**I made a post yesterday about "Watch the official statement of government of India on cryptocurrency" in the legal section. But people are real crazy they don't want to see the reality they loves rumours. So my post got no comment and 9 views only Cheesy

AnCapFree

member

Activity: 154

Merit: 10

lost over 60% bitcoin price. marketcap lost more than 200 billion in a week. this is a hard time for us. I cut loss my portfolio already.

Gens09

sr. member

Activity: 434

Merit: 250

Quote from: alexey14 on February 01, 2018, 03:06:14 PM

India just BANNED Bitcoin? Will BTC now crash?

Obviously it is just normal for the bitcoin market value to crash because a lot of people will stop and cannot use or make a transaction using a bitcoin and i guess it is just a normal thing to happened but I guess even if the market goes down in the coming month or year no problem will happen because we cannot shut down the market so it will continue its journey to pump into the market so i guess bitcoin will recover in the market surely so you could wait until the market pump.

Topic: India just BANNED Bitcoin? Will BTC now crash? - page 13. (Read 2611 times)