Quote from: fanbeila on September 15, 2017, 11:55:55 PM

Quote from: Patatas on September 15, 2017, 11:47:47 PM

Quote from: BTConFire on September 15, 2017, 11:32:26 PM

Quote from: Patatas on September 15, 2017, 11:00:00 PM

What do you think how long will it take to spread around the neighbouring countries ? This is bad move and could affect bitcoin in the long run.

I can confirm that India and Pakistan won't be affected my China's views on Bitcoins. India, with the second most population, favours online currency to play an important role in the market. What bugs me is how is mining being affected vastly by China's withdrawal from the Bitcoin network.
Around the world, Bitcoin has influenced itself over the last 7 months with its rising price from 800 to 4k$. It's a progress leap of 500%.
In the future, it will only keep rising more.
On a side note, could you summarise in a few words as to why China has started withdrawing from the Bitcoin market?

Indian will be the first country to ban bitcoin after China.The government is already implementing heavy tax schemes and they don't appreciate cryptos.There are no laws governing the scene at the moment but if one country starts banning it,certainly it will spread the word around.

Absolutely not.India has already formed a committee to give recommendations in favor of legalizing crypto currencies within six months.So india would not follow china blindly.It was earlier when india was thinking of banning virtual currencies but later took a U-turn in its decision.So,if india legalizes bitcoin,then it would increase the demand of bitcoins more.

To add further, with the recent de-monetization in India and the rise of online banking apps, India is already favouring Bitcoin and cryptocurrencies worldwide. There is but very little awareness about Bitcoin which is a major drawback to the industry. Some people are ignorant while others unaware. I guess seminars and workshops explaining the Bitcoin terminology should be help at places to enlighten the mob.
There are several Indian exchange websites and day by day, their numbers keep increasing.