India will Punish Bitcoin Holders

[BrolySSJ]

The Indian government will issue a law that prohibits holders of Bitcoin (cryptocurrency) both investors, traders, exchanges and miners. If this bill is passed, India will be the first country to prohibit the ownership of Bitcoin (In China it does not prohibit the ownership of Bitcoin). So what do you think will the Bitcoin Ban in India affect global prices?

I think that to some extent this will have an impact as there are many Indians that are invested in teh crypto market, however the other countries may see this as an opportunity to buy at a lower price, which could drive up the price in the end as well. So it could be a double edged sword in my opinion. On one side it is helping and on the other it is not.

 

[Senator]

The Bitcoin banning in India will not affect the global price of Bitcoin in any way. Not even the slightest effect. The country is not that much known to trade in Bitcoin like some countries are popularly known for.

 

[btaliat]

Though the law in India if passed won't have any effect on cryptocurrencies. Because India is not even the top 3 users of cryptocurrencies. The law to be factual is anti masses.

 

[Ayokex]

Whichever country that want to kick against this advent of this digital innovation, let them go ahead. I'm very certain that it's a matter of time before they all come to realize that they are fighting a lost battle.

 

[Good-Person]

I do not know why world governments are waging war against cryptocurrencies? Cryptocurrencies can actually profit the governement and the people of a particular country if they invest in a valuable thing like cryptocurrencies. Having said that, the ban on cryptocurrencies can definitely have an impact on the price of cryptos. This is because crypto might lose its real value if it gets banned and people do not invest more.

 

[Patrik]

Well, if there is a warning before this law gets implemented, i guess the bitcoin users will have the time to get rid of it so they don't lose (even though, they are still going to lose anyways because they could make money from it in the future)

 

[Ralphjoe]

I really don't know what's going wrong there with India and South Korea. The seems to dragging Bitcoin (Cryptocurrency) to the wall. They don't want the growth of the coin in their respective country. But they never made provision to help their youth to be somehow free from poverty and unemployment.

I think that the Indian government have bluffing when they say that they will punish bitcoin holders because it will be extremely difficult for them to be able to track down bitcoin holders.

 

[Sincerem]

I think that the Indian government have bluffing when they say that they will punish bitcoin holders because it will be extremely difficult for them to be able to track down bitcoin holders.

Indian government made it known that crypto shouldn't be transacted with their national currency. And serious law have been reached to halt its activities in their country.

 

[Ralphjoe]

Indian government made it known that crypto shouldn't be transacted with their national currency. And serious law have been reached to halt its activities in their country.

Well they can only try but the fact is that there will always be people that will be using Bitcoin in India because there is no way that any government can halt the usage of cryptocurrency and the world even the most developed countries like us and UK cannot do it.

 

[Cash%]

In update to this , i think India have reconsider the use of crypto currency in the country and there have been major anticipation on the development of crypto in India

 

[Trexxxy]

I honestly don't think the ban in India will affect the bitcoin prices. India isn't the first to ban it and won't be the last country to ban it. I think that is a backward decision by the Indian government.

 

[Sincerem]

Well they can only try but the fact is that there will always be people that will be using Bitcoin in India because there is no way that any government can halt the usage of cryptocurrency and the world even the most developed countries like us and UK cannot do it.

Yes, it can still be operational to some core Indian users when it concerns crypto. Since majority turn up to it, it can never be banned completely by some countries.

 

[Ralphjoe]

Yes, it can still be operational to some core Indian users when it concerns crypto. Since majority turn up to it, it can never be banned completely by some countries.

This is what I have been trying to say since that there is no way that cryptocurrency can be completely banned in a country has there will always be people that will be using it no matter how the government try to ban cryptocurrency.

 

[GIFTMICHAEL]

The government of Indian can do what ever comes in their mind when it comes to crypto. But i don't think it will quench the activities of some persons there transacting around crypto totally.

 

[Setfragil]

This will be a bad development for the India government. Many businesses depends on bitcoins for their survival as it is the one of the easiest means of foreign exchange. I think the ban will be difficult to monitor among the citizens.

 

[Sotherefore]

I don't know what is wrong with this government that is trying to stop the use of cryptocurrency,I do not understand the reason behind this ,could it be that this cryptocurrency is a threat to their economy or what ? If this is true it will have a lot of negative impact in the crypto system

 

[Sincerem]

This is what I have been trying to say since that there is no way that cryptocurrency can be completely banned in a country has there will always be people that will be using it no matter how the government try to ban cryptocurrency.

Crypto is just set to stay with us long time, no matter what the government may do. It can't complete ban it out in the digital ecosystem.

 

[Senator]

That will.be their own cup of tea. But I don't think that will in anyway affect things on how people or Bitcoin is run globally. They are doing this for their own worthy purpose I surpose

 

[IamDozzy]

The Indian government will issue a law that prohibits holders of Bitcoin (cryptocurrency) both investors, traders, exchanges and miners. If this bill is passed, India will be the first country to prohibit the ownership of Bitcoin (In China it does not prohibit the ownership of Bitcoin). So what do you think will the Bitcoin Ban in India affect global prices?

It's already affecting the price of Bitcoin and other cryptocurrency. I believe this is what lead to the dip being experienced by various cryptocurrency. But it this law is put in place in India it would be against Humanity rights and the Indian government could be held accountable for this.

 

[joy101]

I believe bitcoin ban in Indian will never affect the price of bitcoin in the market because we all know that not only India country are using the bitcoin.