Han2x 206 #1 Posted July 20, 2019 Guys I just heard a news that India is already having a draft law banning cryptocurrency. It's mandated there that Bitcoin user's can fall in to prison. What do you think will be the effect of this? I know it's still not happening right now, but what if it will happen? Will you still have or use Bitcoin? You will be like selling illegal drugs. Share this post Link to post Share on other sites
UltraChief 1,440 #2 Posted July 20, 2019 It was a draft law and was never finalized. In theory you can put them in prison but in practice you cannot because they dont have so many prisons in the world. Governments are made by idiots who dont have even basic knowledge of economic systems and they are only interested in making more cash for themselves. They fear about any new system coming in and thus they do these things. 3 phpkiller, Han2x and Byteking reacted to this Share this post Link to post Share on other sites
Han2x 206 #3 Posted July 20, 2019 6 minutes ago, UltraChief said: It was a draft law and was never finalized. In theory you can put them in prison but in practice you cannot because they dont have so many prisons in the world. Governments are made by idiots who dont have even basic knowledge of economic systems and they are only interested in making more cash for themselves. They fear about any new system coming in and thus they do these things. I guess it is @UltraChief. Maybe this new system will stop what they are doing right now we really don't know what it is. But for sure they are benefited by that. Share this post Link to post Share on other sites
UltraChief 1,440 #4 Posted July 20, 2019 2 minutes ago, Han2x said: I guess it is @UltraChief. Maybe this new system will stop what they are doing right now we really don't know what it is. But for sure they are benefited by that. You are getting me wrong here. I meant bitcoin to be a new system. The politicians never want something that would ruin their power or reveal their corruption. So they oppose crypto in every way they can. Share this post Link to post Share on other sites
Han2x 206 #5 Posted July 20, 2019 14 minutes ago, UltraChief said: You are getting me wrong here. I meant bitcoin to be a new system. The politicians never want something that would ruin their power or reveal their corruption. So they oppose crypto in every way they can. Thank for making it clearer but I really get what you mean. They really see Bitcoin as a treat to their current system. Share this post Link to post Share on other sites
Byteking 50 #6 Posted July 20, 2019 they can't even find me, even if i did got found They can't catch me, even if they catch me, they can't lock me in prison, even if they can lock me in prison, they can't stop me from breaking it, even if they stop me from breaking the prison, they can't stop the people protesting to allow crypto and release the prisoners. Share this post Link to post Share on other sites
maluss 15 #7 Posted July 20, 2019 11 minutes ago, Byteking said: they can't even find me, even if i did got found They can't catch me, even if they catch me, they can't lock me in prison, even if they can lock me in prison, they can't stop me from breaking it, even if they stop me from breaking the prison, they can't stop the people protesting to allow crypto and release the prisoners. That's easy to say online, but difficult to handle when it really happens IRL. Not many people will protect an ideal they have while facing prison or any other kind of punishment that takes part of their "freedom". Share this post Link to post Share on other sites
sheenaz.bay 442 #8 Posted July 20, 2019 If that happens, it is only for the country of India, there are countries that approve the presence of bitcoin and there are countries that oppose it, of course there are always pros and cons about bitcoin. That is just a draft law that has never been resolved. you can imagine how many or even billions of the world's population uses bitcoin, what if everyone who uses bitcoin is in jail? is prison enough to accommodate people who use bitcoin? Share this post Link to post Share on other sites
Scotland7643 3 #9 Posted July 21, 2019 There was a lot of information about India banning electronic money. I think it's just a rumor and not a truth. If you live in India, I advise you not to give up electronic money Share this post Link to post Share on other sites
MrNice23 443 #10 Posted July 21, 2019 Oh you know where i live Bitcoin is illegal , maybe i can to jail for selling it or even using it but i don't care , those laws are so stupid and most of times the are not applied. Share this post Link to post Share on other sites
williamsh 343 #11 Posted July 22, 2019 I really hope that this law does not get passed. I do not live in India, but I know many users on Primedice who come from India and it would be super sad to see their country ban something they are passionate about. Share this post Link to post Share on other sites
rembo2 268 #12 Posted July 22, 2019 I think that many users will still use crypto while in the shadows. But in my opinion it is too much, a prison sentence for using cryptocurrency. First you need to provide and so the poor population, and then imposes bans. The authorities simply deprive ordinary people of at least some income, this prohibition. Share this post Link to post Share on other sites
samelinda 0 #13 Posted August 7, 2019 As far as I know, the Indian government does not enforce jail sentences for Bitcoin users and instead pays fines. There is no law in the world to issue jail sentences for crypto investors Share this post Link to post Share on other sites
zerowing 0 #14 Posted August 24, 2019 If the Indian government decides to jail sentences for Bitcoin users, I believe that investors in India will move to countries that accept Bitcoin to live. and the Indian government will suffer heavy losses Share this post Link to post Share on other sites
nitch 1 #15 Posted August 24, 2019 How crazy are they doing so no one can decide such a ridiculous thing, what will electronic money investors do ????? they can accept such a thing Share this post Link to post Share on other sites
JstLikeMagyk 156 #16 Posted August 24, 2019 "governments are made by idiots" Words of a looney toon in my opinion like wth lmao Share this post Link to post Share on other sites
bitboy26 18 #17 Posted August 31, 2019 aw thats scary if that true but i think that is really true because i read an article on the past about the country that bans bitcoin and i see that india is one of them . a government can do what they wanted to do , they can ban or legalize crypto at thier own descrition . we dont have the power to revise it so we should follow them or else you will be fined and worst you can to the jail too early but lets look at the bright side , not all countries have that law . majority of the countries are still pretty open to cryptos . luckily im one of those countries . Share this post Link to post Share on other sites
@zulfandina 207 #18 Posted August 31, 2019 in my opinion the news will indeed begin to be carried out by local law enforcement, but if the cryptocurrency users in the country are increasing, it will not be able to be dammed, it is unlikely that law enforcement will catch all cryptocurrency users in one country in large numbers. .. this is just silly news in my opinion ... we take the example of narcotics users ... in some countries narcotics is strictly prohibited, even in some countries have set death laws to narcotics and psychotropic users, but still narcotics cannot be completely eradicated which makes the law no longer valid ... I think this will also apply to crytocurrency users in the Indian country ... maybe at first the law will be enforced, some people who get caught will be subject to punishment according to what has been set, but if the level of cryptocoin users increases, the law will no longer function .. 😴😴 On 20/07/2019 at 14:43, UltraChief said: It was a draft law and was never finalized. In theory you can put them in prison but in practice you cannot because they dont have so many prisons in the world. Governments are made by idiots who dont have even basic knowledge of economic systems and they are only interested in making more cash for themselves. They fear about any new system coming in and thus they do these things. You're right, UltraChief moderator ... this is just a stupid rule created by fools who feel smarter than people like us ... they think their prison is enough to accommodate cryptocurrency users ... they think that their laws can scare Follow the cryptocurrency users ... they are just jealous, they are afraid of many rich people in the country because of cryptocurrency ... they are afraid that their position will not be meaningful anymore ... Share this post Link to post Share on other sites
Ph4ntom 2 #19 Posted August 31, 2019 (edited) Any drastic change in society can weaken or strengthen the current system and its "status quo". Cryptocurrencies, more than a trend, are already a widespread and consolidated reality in many countries. At some point, governments will have to accept it. That's what I think anyway. Edited August 31, 2019 by Ph4ntom Share this post Link to post Share on other sites
CntryBoy 194 #20 Posted August 31, 2019 4 hours ago, Ph4ntom said: At some point, governments will have to accept it. I agree. There is not much that they will be able to do in the future when crypto is so widely used. They would spend all of their time trying to enforce whatever crypto laws they try to enforce, and all of the real criminals would roam free... Share this post Link to post Share on other sites
Chikou1306 185 #21 Posted August 31, 2019 well it will be impossible to throw every crypto holder in jail, first,, they can not track the crypto currencies, and second they have no more jails to throw millions of people in, but still, indian crypto holders should be carefull since their government has banned the cryptocurrencies, and i am afraid they catch singpays one day 😄 Share this post Link to post Share on other sites
Lelikts 14 #22 Posted September 10, 2019 India is a very poor country, the authorities wouldn’t have to do this, they carry basins on their heads and live in trash, and they decided to catch people who are engaged in cryptocurrency! Share this post Link to post Share on other sites
@zulfandina 207 #23 Posted October 8, 2019 On 11/09/2019 at 05:23, Lelikts said: India is a very poor country, the authorities wouldn’t have to do this, they carry basins on their heads and live in trash, and they decided to catch people who are engaged in cryptocurrency! it's true, india is indeed a poor country and one of the most populous countries in the world with the smallest income. I think this is only an emphasis on a few individuals and not globally Share this post Link to post Share on other sites
State 7 #24 Posted January 6 Do not tell anyone that you have bitcoin. Set your wallet on iPhone. Keep him at home. How will you be arrested? Will they search the houses? To do this, you must commit a VERY serious crime. Share this post Link to post Share on other sites
nolep 163 #25 Posted January 6 10 minutes ago, State said: Do not tell anyone that you have bitcoin. Set your wallet on iPhone. Keep him at home. How will you be arrested? Will they search the houses? To do this, you must commit a VERY serious crime. that's the most appropriate way, but have you ever felt like telling stories to others even though it's something that you hide hahaha. but the safest way you store it on the market because it's very safe. Share this post Link to post Share on other sites
