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Just because of the crash bitcoin has been labeled a ponzi scheme? What government are you having?? Probably they are not doing their own researches on cryptocurrency. At the first place why is it just now? Bitcoin had ups and downs why didn't they banned bitcoin at the first place when it first drops from $30 to $2?
There are many news coming out of India regarding how the government is planning to look at the new market place, it is not because of the crash they are labeling it as ponzi and none of the officials said that about bitcoin, some illiterate members who does not have any knowledge about the market have said those things about bitcoin and the central bank has banned the banking sector from dealing with businesses related to crypto and that is the real situation in India from what i understand, after the G20 summit there are news coming out that they will be coming up with regulation . 
Being a resident of India, all I have to say is that you won't be surprised if you know about the real situation. India is a country where most of the lawmakers get elected because he belongs to a particular caste or sect. That means that rather than competent people, Indians usually end up with illiterates and criminals for lawmakers.
This is the true reality taking place within India, among them only few are eligible to be a law maker while the rest represents a caste or a community. The decision related to economic development will be taken without any form of prior reviewing same as the demonetization that happened years back which was planned and executed within a single night.
Just for those who cannot read or do not bother.
"The usage of cryptocurrencies like bitcoin and ethereum is not banned or prohibited in the country. Only local banks working with the central bank, which essentially is the overwhelming majority of the banks in the country, are not permitted to work with cryptocurrency exchanges."
Crypto is not banned. Stop it now.
I think they should ban fiat. Crimes are committed over fiat. Even physical violence is used by some to get their hands on fiat. People use fiat to buy guns to kill other people too. Every drug dealer accepts fiat not crypto.
I really think we should ban fiat. Lets ban trading all together actually since there is a chance you can be defrauded trading.
I love how the so uptight about AML laws. Like we gonna pay tax to begin with. They piss the tax money away so screw them.
"The usage of cryptocurrencies like bitcoin and ethereum is not banned or prohibited in the country. Only local banks working with the central bank, which essentially is the overwhelming majority of the banks in the country, are not permitted to work with cryptocurrency exchanges."
Crypto is not banned. Stop it now.
I think they should ban fiat. Crimes are committed over fiat. Even physical violence is used by some to get their hands on fiat. People use fiat to buy guns to kill other people too. Every drug dealer accepts fiat not crypto.
I really think we should ban fiat. Lets ban trading all together actually since there is a chance you can be defrauded trading.
Being a resident of India, all I have to say is that you won't be surprised if you know about the real situation. India is a country where most of the lawmakers get elected because he belongs to a particular caste or sect. That means that rather than competent people, Indians usually end up with illiterates and criminals for lawmakers.
I love how the so uptight about AML laws. Like we gonna pay tax to begin with. They piss the tax money away so screw them.
Being a resident of India, all I have to say is that you won't be surprised if you know about the real situation. India is a country where most of the lawmakers get elected because he belongs to a particular caste or sect. That means that rather than competent people, Indians usually end up with illiterates and criminals for lawmakers.
They did not even look at the technology side of it and they prefer thinking differently, all the other countries especially the first world country are adopting and integrating Cryptocurrency to their system, it's unfortunate that India cannot keep and prefer to go on a different path.
Apparently, the Indian government is not voicing the real reasons for the negative statements about cryptocurrency. I have already seen such a situation in other countries that intend to prohibit the use of Bitcoin. That is why they are inventing today different reasons for refusing to legalize. It is a pity that users of cryptocurrency, who are citizens of such countries, will suffer from this.
Its quite sad, I have been using bitcoin for 3 years now but because of the crash, bitcoin has been labeled a ponzi scheme and there are plans to ban it in india 
https://coingape.com/indian-lawmakers-call-ban-bitcoin-cryptocurrency/
https://www.ccn.com/why-indias-bitcoin-ban-could-disappear-after-march-29-hearing
edit: Im Indian
https://coingape.com/indian-lawmakers-call-ban-bitcoin-cryptocurrency/
https://www.ccn.com/why-indias-bitcoin-ban-could-disappear-after-march-29-hearing
edit: Im Indian
I also heard it and it is really sad news, because India has huge population and these people are very hard working and technically working very well. So this news will be disturb them by their career wise. Government should think about it once again.
Its quite sad, I have been using bitcoin for 3 years now but because of the crash, bitcoin has been labeled a ponzi scheme and there are plans to ban it in india
Just because of the crash bitcoin has been labeled a ponzi scheme? What government are you having?? Probably they are not doing their own researches on cryptocurrency. At the first place why is it just now? Bitcoin had ups and downs why didn't they banned bitcoin at the first place when it first drops from $30 to $2?
One of the safest way to trade bitcoin in India is p2p trading, So, i recommend you to choose leading p2p exchange Airfio which is safe, secure and simple to trade.
You all do realize Bitcoin is in fact a pronzi 
We all get profits from the difference between buy and sell prices when others buy bitcoin. Which technically is a pronzi
https://en.wikipedia.org/wiki/Ponzi_scheme:
A Ponzi scheme is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. The scheme leads victims to believe that profits are coming from product sales or other means, and they remain unaware that other investors are the source of funds. A Ponzi scheme can maintain the illusion of a sustainable business as long as new investors contribute new funds, and as long as most of the investors do not demand full repayment and still believe in the non-existent assets they are purported to own.
We all get profits from the difference between buy and sell prices when others buy bitcoin. Which technically is a pronzi
https://en.wikipedia.org/wiki/Ponzi_scheme:
A Ponzi scheme is a form of fraud that lures investors and pays profits to earlier investors with funds from more recent investors. The scheme leads victims to believe that profits are coming from product sales or other means, and they remain unaware that other investors are the source of funds. A Ponzi scheme can maintain the illusion of a sustainable business as long as new investors contribute new funds, and as long as most of the investors do not demand full repayment and still believe in the non-existent assets they are purported to own.
bitcoin is not a "pronzi" , getting difference between buy and sell price doesn't constitute a ponzi scheme , get your facts straight
this would mean any shares you buy that grow in price are ponzi
ponzi pyramid scheme is a fraud scheme where the sole purpose of it to get others scammed and it often offers no product or asset
bitcoin is nothing of the kind , its price is volatile and you can both lose and earn money selling it but new investors are not the source of funds ,
there are no institutions that profit from selling it to the new members and it is decentralized with the deflationary mechanism inbuilt
As I see India isn't going to ban bitcoin, it's just not possible to use local banks (working with central bank) to work with crypto exchanges. But you can still use the trading platforms. Also, Securities and Exchange Board of India (SEBI), sent its officials to Japan, to better understand how their regulations work.
Maybe they will copy a similar regulatory method that is already used in Japan.
Maybe they will copy a similar regulatory method that is already used in Japan.
Almost anybody who does not like the use of cryptocurrencies as a new way of making payment for transactions call bitcoin a ponzi scheme. It's been a decade now and bitcoin is still being used by crypto enthusiasts to make payments for their transactions. Alll these negative comments would change once they get to understand how cryptocurrencies really work and its importance.
not only Indian govt many other countries have restrictions for btc , i think govt is worried that btc being used for payments in many illegal stuff and recent news of bomb blasts in srilanka have also suspects that transactions were made through bitcoin for terror actives
Banks are paranoid if BTC survives they will lose their business so, every time I hear about this type of news .. It seems to me like Banks are trying to scare people from BTC. And no, BTC is definitely not a ponzi scheme.
Bitcoin is decades away from replacing the banks (if that ever happens). I think that the banks are more worried about being associated with money laundering and contraband sales. Money laundering is a big issue in India, and after the demonetization exercise in 2016 there was a sharp increase in the crypto sales in that market. Another worrying aspect is that last year (2018), there were incidents of cops raiding houses and seizing narcotic substances which originated from dark markets (where BTC is accepted as a mode of payment).
Its quite sad, I have been using bitcoin for 3 years now but because of the crash, bitcoin has been labeled a ponzi scheme and there are plans to ban it in india
https://coingape.com/indian-lawmakers-call-ban-bitcoin-cryptocurrency/
https://www.ccn.com/why-indias-bitcoin-ban-could-disappear-after-march-29-hearing
edit: Im Indian
https://coingape.com/indian-lawmakers-call-ban-bitcoin-cryptocurrency/
https://www.ccn.com/why-indias-bitcoin-ban-could-disappear-after-march-29-hearing
edit: Im Indian
The problem is they don't see the benefits that cryptocurrencies can give especially to the government, in tokenizing and securing processes. These law makers does not have enough knowledge about the technology, they are killing the better possibilities. The market of course is volatile because it is decentralized, they are only seeing the cryptocurrencies like bitcoin as a digital coin with a very volatile price and not the underlying technology.
Bitcoin is not a Ponzi scheme. Bitcoin is good money. Bitcoin is that money very necessary for the world economy to grow, to raise (to increase) production and maintain the peace for the next 100 years to come.
Indians are very good matematicians. I respect them for this. They have taught me physics, they have taught me mathematics.
If you praise for 20 or 30 years a thing (bitcoin) that will grow in price, that will be 100 million dollars/1 bitcoin, that thing will happen.
You can not say that something that is accepted as money in the every country of the world, is a Ponzi scheme.
Indians are very good matematicians. I respect them for this. They have taught me physics, they have taught me mathematics.
If you praise for 20 or 30 years a thing (bitcoin) that will grow in price, that will be 100 million dollars/1 bitcoin, that thing will happen.
You can not say that something that is accepted as money in the every country of the world, is a Ponzi scheme.
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