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RBI has taken majors to curb crypto in Indian Market. But still, traders feel cryptocurrency is going to survive RBI's ban.

What's your thought in it?

Read why traders feel at: https://economictimes.indiatimes.com/markets/stocks/news/why-traders-feel-cryptocurrency-is-going-to-survive-rbis-ban/articleshow/64026629.cms

As per RBIs new regulations, btcs has already been identified as an illegal currency in India.

it is in the month of July we will come to know whether banks will allow cryptocurrency as per court order or else it is a complete closure of cryptocurrency trading in India

Blockchain could have a large impact and change the way real estate gets done. Blockchain in real estate helps in accelerating the process (cutting out the middlemen), reducing fraud, complete transparency through smart contracts.

Indians Look to Buy Bitcoin Overseas as Regulations Tighten

As cryptocurrency regulations start to pile up in India, a new trend is emerging for Indians to acquire cryptocurrencies from abroad, such as from relatives or friends with overseas accounts.
Increased Regulations
Indians Look to Buy Bitcoin Overseas As Regulations TightenThe Indian government has recently intensified its efforts to strengthen the country’s regulations on cryptocurrencies, promising that a regulatory framework for them will be announced soon. Earlier this month, the Indian tax authority issued notices to 100,000 crypto traders asking them to pay taxes.

The Blockchain and Cryptocurrency Committee (BACC), an industry group whose members include 7 cryptocurrency exchanges, is considering several initiatives, such as creating a database of crypto users and transactions, to comply with the government’s mandates. The Times of India elaborated:

With Indian exchanges like Unocoin, Zebpay, Coinsecure, keen on increasing regulation and scrutiny into transactions, bitcoin aficionados say buying from US exchanges is a more popular alternative for purchases.

Indians Look to Buy Bitcoin Overseas As Regulations TightenAs regulations tighten in India, bitcoin “enthusiasts are now tapping into their own NRI [non-resident Indian] network of friends and family members,” the news outlet added.

L R Dinesh is a bitcoiner who buys expensive items using bitcoin on overseas online sites. He told the publication, “For the online tech community, there are some who receive bitcoins as payment for gadget and video game reviews. But for regular purchases, one has to get a relative or friend with an overseas account to send over bitcoins.”

Better Privacy
Indians Look to Buy Bitcoin Overseas As Regulations TightenDana L Coe, the CEO of bitcoin hardware wallet Bitlox, believes that one of the main attractions of bitcoin is privacy, the news outlet conveyed.

He explained, “If you are purchasing a particular medicine and someone collects the data and sells it to a pharmaceutical company — these companies can use sets of such demographic information to increase prices.” Furthermore, he noted, “Differential pricing, blanket invasion of privacy cannot happen if one uses anonymous and private payments,” adding:

People would want to shield their payments from the government, corporates or even their own families. With big data and consumer tracking websites, the need for privacy is heightened.

Better Security
Indians Look to Buy Bitcoin Overseas As Regulations TightenThe advanced security on purchases made with bitcoin is another major incentive for Indians, the publication added. “The requirement of Aadhaar is a dampener,” Dinesh asserted, referring to the 12-digit unique identity number issued to all Indian residents based on their biometric and demographic data. “The community of techies, bloggers and geeks are quite antipathic to the continuous stem of leaks and insecurities reported with Aadhaar,” he emphasized, noting that “To try and unite bitcoins with compliance is going to keep real bitcoin miners away from Indian exchanges.”

Damodharan Sampathkumar of Renovite Technologies was quoted:

In India, RBI has mandated two-factor authentication for all online transactions. But outside of India, only single-factor authentication is required. So when it comes to using one’s credit or debit card to buy products on overseas sites one also runs the risk of compromising sensitive financial data and hacks. So using bitcoins would add one layer of security.

Source - https://news.bitcoin.com/indians-buy-bitcoin-overseas-regulations-tighten/

ConsenSys India, the Indian cohort of the global blockchain specialist firm ConsenSys, is launching the first edition of its Indian educational initiative – the ConsenSys India Developer Program in Vishakhapatnam, Andhra Pradesh.
In addition to end-to-end Ethereum centric coursework, students will be exposed to several unique topics covered during the program. They will learn how to program smart contracts and use Consensys’ proprietary developer tools like MetaMask, Infura, Truffle, and uPort. Most significantly, many of the students will be given an opportunity to join ConsenSys India once the program is completed. Those who are interested in applying may visit ConsenSys India’s website: https://www.consensysindia.com/

i am okay with some regulations like to control scam icos or fraud exchanges or money laundering .

with KYC this issue can be solved .. so it is okay if they regulate such things ..

but banning it not a solution , after ban govt will not only damage its tax earnings but also a black market may open for this , and people will trade it without coming on radar ...

so better to make it legal with some rules .