Topic: Should Bitcoin be banned in India? (Read 14744 times)

No, BTC or any other cryptocurrency must not be banned in India.

Last week I was just watch some TEDx talk on youtube and just came across this video: https://youtu.be/8fbhI1qVj0c Here in the talk it is explained how is blockchain technology and cryptocurrency useful to India.

How to buy/sell in India?

I think bitcoin and other crypto is only for those who use it for what it meant to be, i strongly think before using bitcoin or any other crypto we indians should understand the real meaning of digital privacy ( crypto is the basics of our digital freedom), Indians are really not concerned about it.

FIRST LEARN ---- THEN IMPLEMENT

I don't expect anything special from the Government or Political elite in our country. all are busy with Vote bank policy - Mandir/Masjid.
Only Sane bureaucrats can put some sense in our political regime's heads.

Lok Sabha 03/08/18: "The Government has not issued any notice to Bitcoin lnvestors and there is no such proposal under consideration currently."

Only RBI wants to curb the use of Crypto as "Currency" as of now. Bitcoin or any other Crypto by its very nature cannot be 'banned'

If there is bitcoin banned in India than it will effect the adoption of cryptocurrency inside the country.  India may left behind from other countries in terms of blockchain technology implementation. You can take example of Switzerland which legalize crypto and we can see alot of investment and highest growth in term of blockchain revolution.
India is one of the IT top giant and if blockchain legalize in the country than it may attract new innovation for blockchain world.

No. bitcoin can not be banned as its not owned by any government.

No crypto will be not bann in India, firstly it is not run by any govt. authority secondly it us the future of digital currency so it will not ban, till now it is not legal but it id also not illegal...

Value of Bitcoins will definitely drop if Bitcoin is banned in India. Bitcoin may be used by many Politicians in India for Storing illegal Black Money and I have faith in those Politicians , so Bitcoin is not gonna get banned in India.

Bhai, Plastic ke Keede pade unn logo mein jo Bitcoin ban karne ka soche bhi India mein

Bitcoin by design can't be banned.

There are multiple ways to create crypto, each and every one of them can be converted to Bitcoin.
I think the proper question is that

Should Bitcoin be made illegal in India ?

My Answer : Why would you ever think like that, unless we want to go back to stone age. Bitcoin & Blockchain are the next most powerful innovation of the century. India banning Biitcoin and other crypto means, people losing interest in the technology itself. While the entire world will be busy gathering crypto we will be busy making blockchain project for foreign companies they by KILLING out native IT growth as product based companies.

RBI has banned cryptocurrency in India and has instructed banks to stop providing services to entities dealing in cryptocurrency. Moreover, RBI intends to launch its own version of centralized digital Indian Rupee based on the blockchain. The government cannot regulate decentralized cryptocurrencies and has come up with this idea to cope up with the ban.

One cannot deny the fact that the Indian population is also lured towards investing in cryptocurrencies. The ban might not be able to stop cryptocurrency dealing completely but in fact, create a huge underground market and increase over the counter dealing of cryptocurrency.

In the future, the government might think of bringing cryptocurrencies under regulation through licensing. So it's entirely up to one to hold their cryptocurrency or to sell it for the profits they can realize at the moment.

Primarily Bitcoin among all the cryptocurrencies was introduced as a solution against the current problems the established economy faces, such as inflation, scalability, income gap etc.

So to think in a way, it’s a currency of anti-establishment and in a sense, challenges the government-backed currencies. And if we think in these lines, it's not a surprise that governments around the world including India are answering the rise of cryptocurrency by imposing bans.

No bitcoin is not banned in india, however it is not owned by govt. So no ban

Bitcoin should not be banned in india, But some regulation and awareness should be there so hat ppl cant invest in it blindly. Also there are many mlm schemes are working there., All are scams.
So country need to penalize there organizer so save ppl from getting scam.

Banning is not a Good option.Yes lots of MLM running in the name of Cryptos,Peoples are scammed by scammers in all possible ways.Govt must create strict regulation policies and must take severe action against  these scammer.

Bitcoin is really high risk investment and found many lose their money just don't have proper knowledge and many scammed by scammer. Big problem in India is the bunch of scams happen in the past in this field. Which make bad reputation of the crypto. It's better to instead of the banning Gov can limited those things and lookout for those scammers. After Bitcoin trend in the India many black money holders catch by Gov easy which they didn't well time of the demonetization. Just in favor of no ban on Bitcoin in India.

Bitcoin will never be banned in India because Bitcoin is unstoppable and no one can control bitcoin transactions. As we have seen tension is ongoing from 5th july 2018 but i don't think indian govt. will ban crypto. I think they will come up with set regulation for traders and earn some taxes from crypto as well. Being a trader I will agree to pay Taxes from my capital gains like we do in stock market.

obviously  indian gov't will not ban bitcoin in india. they are planning to regulate it and  treat as commodity.

Why do you think India should ban Bitcoin , and First thing what do you mean by bitcoin ban  , the government can announce bitcoin as illegel tender , in that case if you trade in btc and get caught will have to pay some fine. But india never said that it will ban bitcoin , it is a developing country and trying to do all work digitally. This is the best chance to adopt Blockchain decentralized technology. Meanwhile RBI made a really bad decision to not collaborate the bank with Crypto - INR pair listed exchanges.

Obviously, the people here would not want it to get banned in India. Cryptocurrency market is a great invention which needs support of the people and not bans. It can be used for further developments. People are also getting startups ideas due to cryptocurrencies. This industry has great potential. If India bans it, it is sure to regret its decision later. Moreover India is a land of major outsourcing work which receive great remittances from abroad if there will be a ban on bitcoin these remittances will also be hampered.

No, it shouldn't be banned in India or anywhere. Even if Govt bans it, people would find some other method to trade/invest in crypto.