Post
Topic
Board India
Topic OP
What to do if BitCoin Exchanges are forced to close down on April 20
by
RohitTripathy
on 30/03/2017, 23:57:39 UTC
On April 20, a government panel is meeting to decide whether BitCoins are illegal.

www.moneycontrol.com/news/business/markets-business/exclusive-should-bitcoin-be-allowed-in-india-govt-panel-to-meet-apr-20-to-discuss-2249407.html

If they decide that BitCoins are illegal then centralized BitCoin exchanges will have to shut shop.

There are the few ideas how can these exchanges re-emerge:

1 . Convert from centralized exchange to a decentralized platform like Localbitcoin and Paxful.

2. Opening a page in dark web and offering the same service. Users can access it using Tor browser.

3. Collaborating to create a torrent like technology as a response to Napster closing down. We can use BitCointalk to design and collaborate to create a platform to achieve the same.

Remember, governments can only attack centralized systems. BitCoins are a transformative tool that can potentially eliminate poverty. We have to protect it from temporary ignorance of few regulators and politicians.