India Want to Kill all Cryptocurrencies - No need to panic though - page 3.

pat4cryptoreal

full member

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Merit: 102

This is another means India government want to implement taxation on cryptocurrency. Let us just wait and see in the next few weeks what will be the outcome of the banning.

hadveach

full member

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Thanks for the information, I think India is a developing country, a lot of citizens,and crime rates are high, and I see countries that ban bitcoin are more developing countries. they want to reduce the criminal rate by banning bitcoin, because the Indian government judges that bitcoin has always been a criminal facility.

Alterer

newbie

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What is most stupid about the indian finance minister is that he says "we will ban cryptocurrencies but we will encourage blockchain in payment systems".
Is it a joke?

Haunebu

hero member

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www.Crypto.Games: Multiple coins, multiple games

Quote from: lncm on February 01, 2018, 05:50:53 AM

How? Will they ban internet?

Exactly my thoughts. The collective power of all the governments in the world cannot stop bitcoin since it is a dominant force which will only continue to power forward no matter what which is why I feel that the news posted by op seems like FUD and nothing else. Best to ignore such FUD in my opinion since the Indian government know that they can never ban bitcoin, but they are simply trying to regulate it which will obviously not work out at the end of the day. More and more FUD is driving the value of bitcoin down currently and am expecting a rally in the middle of this month.

ChConcept

jr. member

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The Experience Layer of the Decentralized Internet

This news has already impacted the value of Bitcoin for the past hour or so. But do not panic, I am sure that this will just be like what happened to South Korea last time, the will eventually realize it and will change the "BAN" to just regulations with taxes or so, well what do you expect, government will always allow something as long as they are getting something out of it. Sad

lncm

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Merit: 13

How? Will they ban internet?

nitrousteam

member

Activity: 154

Merit: 15

India is known for their strict religious laws. Cryptos as such are representing a threat to their religious and financial aspects. They don't want to embrace the progress that the crypto market is providing. Instead of joining like some of the other countries they are trying to vanquish the crypto for their people. Bad choice ba my opinion and in a long aspect that will make cryptos only stronger.

Jannalsieh

newbie

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That's quite bad for crypto. This has got to be the reason to the sudden drop of btc price.
Hope the Indian government will enlighten themselves and open up to cryptocurency like many other countries do.
But look at it in the optimistic point of view, you can btc at low price..hold to it cause eventually exchange will bounce back.

dvabit

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Merit: 22

https://qz.com/1148361/budget-2018-indias-government-wants-to-kill-bitcoin-but-it-loves-blockchain/

Headline said - India’s government WANTS to kill bitcoin, but it loves blockchain

Alterer

newbie

Activity: 18

Merit: 0

Yes, it's true. That's why bitcoin dropped suddenly last 1hr.
India is accounting 1 of ever 10 bitcoin transaction in the world. So you can imagine the impact.

ChickenDuck

newbie

Activity: 113

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Is this true? Indian gov wants to ban BTC?

I would suppose some days later the India gov will say it's a mistake again like Korean gov.

Quote from: Alterer on February 01, 2018, 05:22:27 AM

News came today as Indian finance minister finally clarified that they will take actions to ban all cryptocurrencies.
https://qz.com/1148361/budget-2018-indias-government-wants-to-kill-bitcoin-but-it-loves-blockchain/
https://www.bloombergquint.com/global-economics/2018/02/01/india-to-curb-cryptocurrency-use-while-embracing-blockchain
http://www.keralanews247.com/budget-2018-arun-jaitley-speaks-about-bitcoin/

Personally I believe it's a mistake; but hey we are talking about government, which is naturally should be against mostly free and decentralized power of cryptocurrencies.

So, don't panic people. Hold your coins.

Alterer

newbie

Activity: 18

Merit: 0

News came today as Indian finance minister finally clarified that they will take actions to ban all cryptocurrencies.
https://qz.com/1148361/budget-2018-indias-government-wants-to-kill-bitcoin-but-it-loves-blockchain/
https://www.bloombergquint.com/global-economics/2018/02/01/india-to-curb-cryptocurrency-use-while-embracing-blockchain
http://www.keralanews247.com/budget-2018-arun-jaitley-speaks-about-bitcoin/

Personally I believe it's a mistake; but hey we are talking about government, which is naturally should be against mostly free and decentralized power of cryptocurrencies.

So, don't panic people. Hold your coins.

Edit 1: After all the news, maybe it's early to say India will ban it soon. Misinterpretation to say India will ban everything. But today's news showed their stance about bitcoin and cryptocurrencies. We will follow further news...

Edit 2: For people who doesn't know how big India in cryptoworld: India is making 1 of every 10 bitcoin transactions anytime.

Topic: India Want to Kill all Cryptocurrencies - No need to panic though - page 3. (Read 583 times)