Yes, everybody knows that it's India not China.
That's why the markets didn't move, because India has no effect on the bitcoin environment.
None.
No big exchanges, no mining farms, no equipment manufacturers, no nothing.
Not even bitoin nodes.
Quote
38. India (25)
39. Slovenia (24)
39. Slovenia (24)
Bottom line, nobody is panicking!
LoL..Enough with shaming Indians for the lack of bitcoin nodes. Wait till I make it 26..
The OP didn't mean to warn the whole community I suppose. It's just for Indians buying on the small exchanges like Zebpay. The day the announcement was made, Bitcoin price dropped below the international price by around 5%. This despite the fact that the price always used to be about 10% higher because of the premium on currency conversion.
So it did experience a minor crash and OP was probably trying to address just that.
And yeah it's a shame that we cannot really afford mining farms let alone equipment manufacturing because of the service dependent economy we have. We jumped straight from growing wheat to typing code. Missed the manufacturing sector completely. Hopefully there'll be some improvement with the renewed focus on Defence manufacturing.