India will Punish Bitcoin Holders

[Hena101]

There is a need to devices another way thru can hold because even here in Nigeria it was banned but when peer to peer was introduced it change everything.

 

[harrypaul]

Bitcoin adoption has boost the economy of some countries, we can take a close look at Equardor.
So I don't think India is doing it right, the government should look into that.
And I am sure that will not affect the market

 

[Georgeadawara]

The Bitcoin ban in India can't affect the price of Bitcoin or any other crypto currency in the business so far there are other countries using and trading the coin all over the world. If India ban crypto currency their citizens can still buy with p2p because that's what Nigerians are currently doing.

 

[Sotherefore]

Bitcoin adoption has boost the economy of some countries, we can take a close look at Equardor.
So I don't think India is doing it right, the government should look into that.
And I am sure that will not affect the market

I don't know why most of this country are trying to ban her citizen from making use of cryptocurrency because I don't see cryptocurrency as a threat to any economy of the world.

 

[Dagm1]

This is actually a poor relocate due to the Indian federal authorities as they do not desire individuals to enter the riches of cryptocurrency particularly the Bitcoin. Cryptocurrency has actually assisted many people to create easy earnings particularly in a nation like India. They simply desire to create lifestyle intolerable for the cryptocurrency financiers without offering appropriate option for all of them.

 

[Thinker009]

I don't think they are still considering on punishing Bitcoin holders again , because just of recent the government are actually making more plans on increasing the useage and actually start taxing crypto

 

[Sotherefore]

I don't think they are still considering on punishing Bitcoin holders again , because just of recent the government are actually making more plans on increasing the useage and actually start taxing crypto

Wow that is nice because I don't see the reason why a country should ban the use of cryptocurrency, a lot of countries are adopting into cryptocurrency Daily because they see a greater potential in it.

 

[Bousine123]

I don't think it will affect the price negatively. Rather it will only make it soar, the Nigerian government did same thing but the price of Bitcoin increased instead.

 

[Oliver4smile]

By the way, what is the main reason behind this cruel law, how is Bitcoin affecting India as a country or is it just affecting the politicians! Passing this bill will only result to their detriment and they will regret it

 

[Alexandoy]

Is there someone who was already arrested by the law against Bitcoin holders? Sometimes there are laws that cannot be implemented because of complications. How would you know if a person is a Bitcoin holder? I thought the crypto wallet address is a secret?

 

[ahmedo24]

Is there someone who was already arrested by the law against Bitcoin holders? Sometimes there are laws that cannot be implemented because of complications. How would you know if a person is a Bitcoin holder? I thought the crypto wallet address is a secret?

You are absolutely right, personally I have also not seen any even in countries that frown against the use of cryptocurrencies. The laws are just to scare people away in my opinion.

 

[Elfinito]

China has become the first country to ban crypto activities and it has really affected the price of Bitcoin because China holds two of the largest Bitcoin whales in the world

 

[Ub40]

I don't know why all these fights with cryptocurrency. And I am wondering why they should go to this extent. Anyways, if they like, let them jail those dealing with crypto in their country, that is their own cup of tea. As far as it does not affect other people, no problems. It is just my opinion.

 

[tyrim88]

One thing i have come to discover about the issues surrounding bitcoin and the ban by some countries that feels threatened is that they cannot stop the popularity of bitcoin,as more persons take solice in the easy avenue of transfering cash.

 

[Stnicholaz]

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 don't think it will affect the global price of bitcoin. It will only reduce the number of bitcoin user due to the population of India. I still don't get it, I understand banning of cryptocurrency but arresting holders is what I don't understand.

 

[Sotherefore]

I don't see anything wrong with people having bitcoins it because because bitcoins do not contribute negatively to the economy of a particular country. I don't know why I consider this as a misplace priority.

 

[Kingstone]

India does not have an upper hand when it comes to the price of Bitcoin. I fear countries like China and the United States. Still, if any one of them should quit, it can retrace itself as seen when China ban crypto.

 

[Emmy]

Crypto is really secretive to the extent that government cannot know if someone is a crypto holder. I don't think they can stop citizens who are interested in crypto because It's a decentralized system.

 

[Setho]

I believe that banning financial institutions from participating in the enabling of transactions is actually the best way to go. If they are going to start prosecuting bitcoin holders then it is going to be too far.

 

[greenie]

The government is really trying to shoot itself and her citizen. This would create unnecessary panic and people would definitely lose money because of this kind of news. The problem is that it won't be sustained and in a few weeks, crypto is back in India. So what then is the use of a ban right now?