Topic: what will happen to bitcoin in india - page 5. (Read 1299 times)
If Bitcoin will get banned like it was recently proposed, Bitcoin will go underground in India, trades will be done in cash or with foreign payment methods (PayPal and other), because using Indian banks for buying/selling BTC will be too risky. Also there will be no big mining in India, only some private GPU mining of altcoins, if it will still be profitable. Exchanges and other services won't work in India, and Indians will have to use proxies to get there, but since many exchanges have KYC, it will be very hard to get there. This might significantly affect prices in India, they can be much higher than in other parts of the world, because of this artificial scarcity.
I don't know what the stance of Bitcoin is by the Indian government but does it really matter? Even if the government bans bitcoin in their country, people will still be using it. There is no way the government will be able to know who is using the bitcoin unless his wallet is somehow linked to his real life identification. What is going to happen is that people will face a bit difficulty when trying to convert their coins to fiat currency while they will be still using it like before.
If you are talking about the price being affected globally, then I don't think any major affect will take place on the price of bitcoin.
If you are talking about the price being affected globally, then I don't think any major affect will take place on the price of bitcoin.
Bitcoin in India will be used in any case and nobody else in the world could prohibit the use of bitcoin. Laws stop crypto enthusiasts a little.
What will happen to bitcoin in india. whether it is legal or not.
There is a new development from India that the government has proposed a new bill that puts who trade and hold bitcoin in jail for ten years which is outrageous as we can clearly see their lack of intelligence when you compare the sentence you get for heinous crimes which is much less than the proposed punishment for holding bitcoin 
, if they approach towards technology and the new market like this, new starts ups will move out from India as there are other countries in Asia that welcomes the new technology with open hands.
I wouldn't know there was this many ban talks about India if I didn't see it here. I have many Indian friends I made here and it is the perfect currency for almost all Indianans that work remotely. I mean look at places like fiverr and upwork and so forth, India is a cheaper country than USA and they are still doing their job with high quality (specially on SEO and coding) so you are basically paying less for a job that is equally well and they are still getting paid more than usual and bitcoin helps that a lot (the norm used to be paypal).
In my years on being interested in crypto I have both worked with and worked for Indians and they have always used bitcoin without much trouble as far as I knew, didn't know they had bans on their country by our talks if I didn't see the ban talks here.
In my years on being interested in crypto I have both worked with and worked for Indians and they have always used bitcoin without much trouble as far as I knew, didn't know they had bans on their country by our talks if I didn't see the ban talks here.
What will happen to bitcoin in india. whether it is legal or not.
I am not living in India but I heard a lot of news that India banned cryptocurrency because it was harmful for their citizens. Well, it is up to them. Even it is legal or not, the world of crypto does not care. Many people are interested in innovations and if they left in technology, they have their own fault. 
I hope that bitcoin can be accepted in India and the government will not ban bitcoin so their people could still use bitcoin for the good things. I am sure that from a long time ago, people in India have already got the benefits from bitcoin and they still want to get more benefits from bitcoin. They can make money from bitcoin, which will help them to solve the financial problem in their life, and I think the spreading of bitcoin or cryptocurrency will be running good in India.
It is a sad day for cryptocurrency in India as harsh regulation is being implemented there. I have read that there is also a draft of resolution sentencing buyer and seller of cryptocurrency to be punished by 10 year imprisonment. WTH? Though Reserve Bank of India denies their involvement on such proposition.. And if that proposal is accepted by the government then, the hopes for cryptocurrency in India will be gone.
You should be concern with that especially if you are in India.
I am not living in that country but last time I heard, exchanges are ban, but don't know about the progress now.
Well, I am not expecting them to be anti crypto for a long period of time, things will change and they'll eventually adopt.
Big country embrace crypto, and this is a change that gives good benefits to people so let's give the freedom to the people to use crypto.
Sharing this to you - https://cointelegraph.com/news/indias-complex-relationship-with-crypto
I have read a thread here stating that India has lifting the ban for cryptocurrency but not for all crypto because they still ban those weak altcoins in the cryptomarket. I am not living in that country but last time I heard, exchanges are ban, but don't know about the progress now.
Well, I am not expecting them to be anti crypto for a long period of time, things will change and they'll eventually adopt.
Big country embrace crypto, and this is a change that gives good benefits to people so let's give the freedom to the people to use crypto.
Sharing this to you - https://cointelegraph.com/news/indias-complex-relationship-with-crypto
Bitcoin was already being identify and the community could already enjoy buying or investing bitcoin in their local. Aside from there are strong altcoins also that indian government had allowed for the indian community. So, there is no way that indian people will not enjoy cryptocurrency.
What will happen to bitcoin in india. whether it is legal or not.
I think sooner or later, India will also accept bitcoin to get a new industry to help people get more money from the new market. In the near future, the US will not exempt tariffs for products in India anymore. I predict that there will be an economic recession in India if they cannot find a new alternative.Anyway, they are too smart to find a way around it, I mean the Indians, luckily for them, they have an anonymous system right in from of them that will make it easy for them to use without their government influence.
What will happen to bitcoin in india. whether it is legal or not.
I really don't know if is now legal or if people from India use it. But last year there was some news saying bitcoin is restricted on India. You are in India now and can't use or buy bitcoin?
What will happen to bitcoin in india. whether it is legal or not.
I don't think there is anything that is happening to Bitcoin in India. I got a news that they have restricted the use of Bitcoin in India, but that same year my friend who is living India was still making use of Bitcoin and I even send and receive money from him like every two weeks. So I don't really know if it is legal there or not, but since he's still making use of it, so I guess there is nothing happening and bitcoin is safe there. Maybe you should do your research or ask other people that are living there how it has been for them. 
You should be concern with that especially if you are in India.
I am not living in that country but last time I heard, exchanges are ban, but don't know about the progress now.
Well, I am not expecting them to be anti crypto for a long period of time, things will change and they'll eventually adopt.
Big country embrace crypto, and this is a change that gives good benefits to people so let's give the freedom to the people to use crypto.
Sharing this to you - https://cointelegraph.com/news/indias-complex-relationship-with-crypto
I am not living in that country but last time I heard, exchanges are ban, but don't know about the progress now.
Well, I am not expecting them to be anti crypto for a long period of time, things will change and they'll eventually adopt.
Big country embrace crypto, and this is a change that gives good benefits to people so let's give the freedom to the people to use crypto.
Sharing this to you - https://cointelegraph.com/news/indias-complex-relationship-with-crypto
even the government officially forbid bitcoin, ppl will find their way to buy it.
But it is against the rules of your government so you are ready to face the consequences of legal issues if there is any?People won't stop using it but the demand will greatly reduce if government ban it.
So it will be a continues battle for Bitcoin enthusiast in India if government will just decided to ban crypto. Of course there will be consequences if you are caught, but I don't think it will stop India from riding on Bitcoin because they know that it's a alternatives for those who are un-bank, average Indians.
The future though doesn't look bright at this point, buy I guess everyone is willing to take the risk and still invest/trade in this country as Bitcoin is a technology that can make or break everyone, specially those from developing countries like India.
even the government officially forbid bitcoin, ppl will find their way to buy it.
But it is against the rules of your government so you are ready to face the consequences of legal issues if there is any?People won't stop using it but the demand will greatly reduce if government ban it.
So it will be a continues battle for Bitcoin enthusiast in India if government will just decided to ban crypto. Of course there will be consequences if you are caught, but I don't think it will stop India from riding on Bitcoin because they know that it's a alternatives for those who are un-bank, average Indians.
The future though doesn't look bright at this point, buy I guess everyone is willing to take the risk and still invest/trade in this country as Bitcoin is a technology that can make or break everyone, specially those from developing countries like India.
even the government officially forbid bitcoin, ppl will find their way to buy it.
But it is against the rules of your government so you are ready to face the consequences of legal issues if there is any?People won't stop using it but the demand will greatly reduce if government ban it.
Even the government officially forbid bitcoin, ppl will find their way to buy it.
Yes, of course. As long as there is a will, there is a way and even the power of the government could not virtually stop the bitcoin movement in India though it can be harder than usual. It would have been great if the India government would instead put up the regulations (they can follow Japan which is very strict) for the cryptocurrency industry. One big concern of the government is the proliferation of scams using bitcoin or cryptocurrency which already affected the country even before it is legal. Let's hope that soon the government will realize what the country miss with this burgeoning and unstoppable industry.
even the government officially forbid bitcoin, ppl will find their way to buy it.
What will happen to bitcoin in india. whether it is legal or not.
I think the price of BTC will soon grow strongly and the volume of transactions in India will increase in July. I have read an article and on July 7 Indians will no longer be exempt from tax when exporting to the US.This is considered a fatal shot in India. People are forced to search for cryptocurrency like people in Venezuela.
India is one among the country that has been getting increasing number of cryptocurrencies within the country. Meanwhile there is some form of analysis by the common people to use cryptocurrency. Same time government has also set teams to research and submit report whether there is need for blockchain technology, and cryptocurrencies. This way right now there no big opposition, I believe they're neutral in the usage of bitcoin.
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