I do not think that any government can really ban an internet site or application or Bitcoin trading or mining since there is a lot of companies that provide good VPNs or VPSs and some people rent their laptops or computers and you can use them via TeamViewer so you can hide your IP.
The only way that the government can find you is if you are mining and you have a high electrical consumption the electrical company can detect that. So I would not worry about any government ban unless I start to mine.
Topic: What if bitcoin face a ban in INDIA? - page 2. (Read 329 times)
Bitcoin is a decentralized digital currency, which can be transferred to anyone, anywhere in the world via internet without any mediation any from central authorities like bank or government.
Bitcoin is not controlled by any Government or Institution in the world. Hence no one can’t stop from trading (Buying / Selling) Bitcoins.
Let us assume that bitcoin faces ban in INDIA , then these are the things that will happen:
• People will start doing Hawala via Bitcoin
• An underground market will develop with Bitcoin as currency. People will pay for all sorts of stuff with Bitcoins.
• Government will not be able to track Bitcoin transactions, they will lose on taxes
• Bribes will increase in Bitcoin. As Government does not recognise people will start paying bribes in Bitcoins
• People who want to transfer their funds from India, will convert their wealth in Bitcoins and move to another country
• India will lose to a global phenomenon
Whats your views about it?
Bitcoin is not controlled by any Government or Institution in the world. Hence no one can’t stop from trading (Buying / Selling) Bitcoins.
Let us assume that bitcoin faces ban in INDIA , then these are the things that will happen:
• People will start doing Hawala via Bitcoin
• An underground market will develop with Bitcoin as currency. People will pay for all sorts of stuff with Bitcoins.
• Government will not be able to track Bitcoin transactions, they will lose on taxes
• Bribes will increase in Bitcoin. As Government does not recognise people will start paying bribes in Bitcoins
• People who want to transfer their funds from India, will convert their wealth in Bitcoins and move to another country
• India will lose to a global phenomenon
Whats your views about it?
Jump to: