India just BANNED Bitcoin? Will BTC now crash?
What was the outcome of this in India?
Topic: India just BANNED Bitcoin? Will BTC now crash? - page 3. (Read 2611 times)
What was the outcome of this in India?
India just BANNED Bitcoin? Will BTC now crash?
What was the outcome of this in India?
The sequence of the aforesaid adversities cultivated a climate of fear in the minds of investors raising serious doubts on the future of cryptocurrency in India more so because of the continued haze on the legal canvas of the country.
Although, Indian government ban Bitcoin, I think Indian will found out other way to invest in Bitcoin. and Bitcoin will be still stay strong.
Same with how Chinese people do investment even ICO was ban on them before. It is just a matter of who will stand to do still even it is against their law since we can ask anybody from other countries to do it for us as long as you trust them to do so.
Digging up on the issue of India banning bitcoin (or cryptocurrencies altogether), it was actually a misunderstood statement from their head of finance.
What India wanted to ban is the "illegal activities" that's revolving around the crypto economy. In fact they wanted to explore the blockchain technology deeming it useful for the government.
Unocoin even announced "business as usual" a day after the said statement was delivered.
Besides, India banning cryptocurrency will only hurt the economy but would not mean the end of cryptocurrency.
What India wanted to ban is the "illegal activities" that's revolving around the crypto economy. In fact they wanted to explore the blockchain technology deeming it useful for the government.
Unocoin even announced "business as usual" a day after the said statement was delivered.
Besides, India banning cryptocurrency will only hurt the economy but would not mean the end of cryptocurrency.
The CEO of a Delhi cryptocurrency exchange platform claims Venezuela has offered the Indian government a whopping 30% discount on oil if it pays in Petro, the South American country’s state-issued cryptocurrency.
Media outlet Business Standard says the CEO of Coinsecure, Mohit Kalra, explained, “[The Venezuelan government is] going to different countries and making offers.” According to the report, a team of experts from Venezuela’s blockchain department entered into a pact with Coinsecure to sell Petro in India.
India Can Use Petro to Buy Venezuelan Oil at 30%
Media outlet Business Standard says the CEO of Coinsecure, Mohit Kalra, explained, “[The Venezuelan government is] going to different countries and making offers.” According to the report, a team of experts from Venezuela’s blockchain department entered into a pact with Coinsecure to sell Petro in India.
India Can Use Petro to Buy Venezuelan Oil at 30%
Some people in panic sell because they know that it will occur, but clever people will hold it because the value of bitcoins won't fall in such news. Its cost decreases because most of all sell the coins.
It's just a fake issue or news so other investors get back on their investment because bitcoin prices are now too low. In India, it does not prohibit the existence of bitcoin in their country. So bitcoin prices will soon fall after the situation is under control. 
Although, Indian government ban Bitcoin, I think Indian will found out other way to invest in Bitcoin. and Bitcoin will be still stay strong.
on what i have read on this news and also here on bitcoin talk tread is that they will just ban it for 3 months and we will just wait what will happen after that 3 months, it affected the value of bitcoin when this news spread because a lot of Indian people are also holding bitcoin and that is why the price drops last month (a lot of Indian people are in crypto world that is why it is a sad news), and now the value of bitcoin is recovering and we will see green in this coming months.
It seems the decision of India about banning Bitcoin has not effected Bitcoin price too much. This kind of things will always continue to happen until Bitcoin and cryptocurrencies displace real money.
When the news first came out, it caused a crash in the exchange rates. If I remember correctly, the exchange rates nosedived from around $12,000 per coin to less than $10,000 per coin. So you can't say that it didn't had any impact on the exchange rates.
It seems the decision of India about banning Bitcoin has not effected Bitcoin price too much. This kind of things will always continue to happen until Bitcoin and cryptocurrencies displace real money.
Indian government's decision to ban bitcoin hasn't in anyway affected the price of it. Bitcoin hasn't crashed, as some people thought. Hundreds of thousands of Indians have been using bitcoin for a long time and they would do so in future too. In fact more and more people are getting attracted to bitcoin because of its profitability.
India is a country in which cryptocurrencies are incredibly developed.if they happen all very totally,then you can wait for the collapse in the world of cryptocurrencies
I don't think that would be a good reason to fall.I hope this doesn't really affect bitcoin and other cryptocurrencies
India just BANNED Bitcoin? Will BTC now crash?
This is not the first news about the Bitcoin ban, why should it be a disaster? Moreover, they want to introduce blockchain technology into the banking system. I believe that the decline in bitcoin prices is not at all because of this!
Yes, you are correct, this is not the first time that we will be hearing this kind of negative news but bitcoin performance goes well and it is not affected by any negative news somewhere.
In this opinion piece, Mohammed Danish, a lawyer practising at High Court of Delhi, explains how the interest of the crypto investor in protected under Indian law despite the absence of any crypto regulatory regime. The investor can still approach the court of law against any deficiency in service by the cryptocurrency exchange.
Indian Law Protects Cryptocurrency Investors Despite Lack of Regulation
Indian Law Protects Cryptocurrency Investors Despite Lack of Regulation
I am sure India didn't ban it yet. The finance minister said that bitcoin is not a legal tender in India and the expert committee recommendation is currently being reviewed. That means, you can't use bitcoin for purchasing or selling of any goods or services. But they didn't mention anything about bitcoin holdings of the individual citizens. They didn't ban investment in it. I watched it live so don't fall for any useless newspaper reproducing it in their own language.
India bitcoin ban is in court judiciary case so we cant comment hopefully honorable court take the right decision for crypto traders future in India
India has made a very big contribution to the world of cryptocurrencies, then why do they ban bitcoin? That's weird.
It's not the Indian people fault but their government, that like most other governments are just looking over their own profit, rather the benefit of the Indian people! But I doubt this will take too long, India is a country very concerned with technology and there are many people there willing to fight nail and tooths for cryptocurrency (at this time I'm posting they might have lifted the ban).
Jump to: