India may ban bitcoin in 2018 - page 4.

djimbim0

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Quote from: dhka on November 10, 2017, 07:32:37 AM

To me it means india government bans bitcoin as a transaction currency replacing its own national currency, that doesnt mean the government bans bitcoin

The same applies in indonesia

And I do not understand why the government of India does this. After all, the blockchain technology is very promising. This could give additional income for the people of India

Scorpion

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Bitcoin OG

A country like India with such a large population cannot just ban Bitcoin it would be too hard to enforce. This is just what they say when they wish to regulate and start taxing Bitcoin. Eventually it will be a widespread thing in India.

jc89

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Just like any other governments the main concern here is really the loss of control. They will lose a lot in taxes if people fully relied on btc when they are transacting. But if they will really totally ban btc for good that's for them to decide. I don't think it will hurt the community that much. We all remember what happened during the controversial China's pull out but that lasted for less than a month and then we moved on. Not that I'm comparing them to China, but yes I just did. So there's nothing to worry for now until India isn't officially banning btc.

dhka

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The Experience Layer of the Decentralized Internet

To me it means india government bans bitcoin as a transaction currency replacing its own national currency, that doesnt mean the government bans bitcoin

The same applies in indonesia

stompix

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Blackjack.fun

Ok, let's have some timelapse fun with bitcoin and India

Bitcoin is Legal in India, What about your country? Check here.
September 07, 2016
https://bitcointalksearch.org/topic/bitcoin-is-legal-in-india-what-about-your-country-check-here-1610230

Now bitcoin is illegal in India ?
April 01, 2017
https://bitcointalksearch.org/topic/now-bitcoin-is-illegal-in-india-1850527

India may ban Bitcoin
August 04, 2017
https://bitcointalksearch.org/topic/india-may-ban-bitcoin-2064781

Suddenly, Bitcoin to Be Officially Legal in India
June 21, 2017
https://bitcointalksearch.org/topic/suddenly-bitcoin-to-be-officially-legal-in-india-1978550

Bitcoin finally legal in India
July 15, 2017
https://bitcointalksearch.org/topic/bitcoin-finally-legal-in-india-2021761

Bitcoins cannot be legal in India.
November 02, 2017
https://bitcointalk.org/index.php?topic=1941859.60

So we don't need China anymore.
We have INDIA!!!!!

Let's start 1000 threads debating something that will be proven wrong the next week by anther 100 threads.
Who cares what India and the Indian government does?
Influence 0.001.

Quote from: spiritglove on November 10, 2017, 07:02:50 AM

New York State has tried to ban Bitcoin, LOL that is another failing political policy from the Tyrants in the "NANNY STATE" Can't do it LOL Good Luck. LOL

Stop with the FUD.
NY was the first state to recognize and lay down the legal framework for bitcoin exchanges.

Maestro75

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Quote from: Ayush rana on November 10, 2017, 02:57:18 AM

There is a news that may be India will ban bitcoin in 2018. Make your guess will India really ban it or not?
News article link
https://qz.com/1121363/no-bitcoins-for-payments-and-settlements-says-the-reserve-bank-of-india/

India may have a large population but she is not an economy to be reckoned with like China. So, India banning Bitcoin or not is really not an issue for the crypto society. In fact, she should borrow a leaf from China and know that Bitcoin is too domineering to be controlled by a few individuals. We have passed that era of threats so cheap as this, whether it be true or not.

z38630610

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Quote from: Ayush rana on November 10, 2017, 02:57:18 AM

There is a news that may be India will ban bitcoin in 2018. Make your guess will India really ban it or not?
News article link
https://qz.com/1121363/no-bitcoins-for-payments-and-settlements-says-the-reserve-bank-of-india/

Banning bitcoin is a little bit hard because there are many methods which people could invest with bitcoin. Especially people in India can find many ways. Because India's economy has huge potential for bitcoin.

mobilazy

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They banned fiat money year ago, 1000 and 500 bills. It mostly failed. With BTC it will be much more difficult, I think this attempt will fail again.

spiritglove

newbie

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Ha, Ha, HA that is a funny one HOW do they propose to Ban Bitcoin. It has no "PHYSICAL" existence It will be impossible for them to ban Bitcoin. Sniff it out with dogs, lol JOKE even if they do pass some sort of legislation it WILL NOT WORK. New York State has tried to ban Bitcoin, LOL that is another failing political policy from the Tyrants in the "NANNY STATE" Can't do it LOL Good Luck. LOL

longminh123

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No one can block Bitcoin at this time because all transactions are anonymous and there is no way to deal with large numbers of Bitcoin users. I think in the future all countries will develop Bitcoin, if India prohibits Bitcoin, that country is going against the market trend.

Aryanto28

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According to the news, I know that the Indian government is very concerned about the presence of bitcoin in India, even in Indian states have been told by bolliwood celebrities there. After the bitcoin.co.id announcement about the disbursement of bitcoin cash, the Indian Government did not receive bitcoin cash. I also do not understand what the reason. So that no government approval in India is not a bitcoin but a bitcoin cash.

Zabercoin

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India is advanced country, I think they figure out what to do with crypto in the future.

Pamadar

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Quote from: CuriousGeorge on November 10, 2017, 06:15:14 AM

Quote from: Ayush rana on November 10, 2017, 05:57:16 AM

Quote from: BCMB on November 10, 2017, 02:59:14 AM

What news are you talking about? Sounds like pure speculation.

There was a news article i was reading in which Indian government is not sure about what they will do with the crypto currency in future
Well there is no official statement about this, but may be this will happen in future.
https://qz.com/1121363/no-bitcoins-for-payments-and-settlements-says-the-reserve-bank-of-india/

I'm just thinking that India making such statement to forbid payments and settlements using bitcoin because they simply can't regulate it and it's not an official currency in their country either.
It does make sense if they ban the "usage" of bitcoin but not if it's for saving or investing purpose. Just a country trying to keep its economy.

That's what each countries wanted to happen they just like to suppress bitcoin as they can't go and provide taxes so the best way is ban it temporarily until they settle an agreement that users inside that country will allow the government to facilitate some rules and implement taxes in every transactions that they have.

Rishabh riyz

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India is still under a developing phase , the majority of people don't even know about bitcoins , only 15% or even less of the population knows about this crypto currency.
So bitcoins is neither legal nor illegal in the country, about 38% of the population uses digital currency transactions in form of paytm.
The government is promoting digital transaction vie paytm in the country so why would they ban other digital currency.

lucifochrome

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Do you have a link to this news you are talking about? If there is none then this is not yet a news. It can be classified as rumors or just speculation. India can ban bitcoin just in their country. It won't be able to ban bitcoin in general. China tried to ban bitcoin but look at what happened, ends up regulating it. There is nothing wrong with bitcoin, government may say that bitcoin is used for illegal activities well so as the traditional currency. Point is, it is not possible to ban bitcoin or it may be possible but that is to ban internet usage on the country.

FrankGismoeas

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Why should India ban bitcoin it is a good thing for everyone in this world the poor people their making form bitcoin know they can earn a lot form there but i do not understand why people want to ban it they just do not want people to make money that is it.

LydiaBob

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I don't think that India would ban it. They are very much into the crypto-community. (although the same happened to China as well)
Let's just not make any speculations and see what is going to happen

CuriousGeorge

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KUWA.ai

Quote from: Ayush rana on November 10, 2017, 05:57:16 AM

Quote from: BCMB on November 10, 2017, 02:59:14 AM

What news are you talking about? Sounds like pure speculation.

There was a news article i was reading in which Indian government is not sure about what they will do with the crypto currency in future
Well there is no official statement about this, but may be this will happen in future.
https://qz.com/1121363/no-bitcoins-for-payments-and-settlements-says-the-reserve-bank-of-india/

I'm just thinking that India making such statement to forbid payments and settlements using bitcoin because they simply can't regulate it and it's not an official currency in their country either.
It does make sense if they ban the "usage" of bitcoin but not if it's for saving or investing purpose. Just a country trying to keep its economy.

Ayush rana

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Quote from: Dr.Osh on November 10, 2017, 03:18:10 AM

I guess that's not true. maybe you just heard fake news. I've heard that India once made bitcoin legal in that country. but I do not know. I think it would be a big loss if a country makes bitcoin illegal, because it could make the income of its people less. and an increasing number of poverty.

As income of people may reduce but if the inflow of bitcoin will increase then it may leads to the decrease in the value of Indian Rupee INR.

Ayush rana

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Quote from: travelgear17 on November 10, 2017, 04:30:30 AM

Quote from: eann014 on November 10, 2017, 03:34:59 AM

Quote from: Ayush rana on November 10, 2017, 02:57:18 AM

There is a news that may be India will ban bitcoin in 2018. Make your guess will India really ban it or not?

I think even if that is true, we don't have to be affected. Even if without India, bitcoin will still remain and will still prove its potential. For me, it will still increase its price or maybe remain its price the same, if bitcoin price will drop, for sure it will increase again.

you are talking about rumors not any news i think got it because you have not any clue or reference regarding this issue.
if you have where is the evidence link you should drop it here so that we are get the issue actually what's happens.

There was a news article i read yesterday. Posting the link for your reference below. Although there is no official statement for this.
https://qz.com/1121363/no-bitcoins-for-payments-and-settlements-says-the-reserve-bank-of-india/

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