Exactly @puregrace but considering this happing where BTC transactions get first into USD then into INR, this can hurt a countries economy and people will lead to holding black money without even wanting to.
You are viewing a single comment's thread from:
Yes, same like earlier days when Indians used to hold money into Paypal, thousands of dollars. Now, Indians will hold BTC and USD again.
@puregrace Paypal was a company and a centralized system, RBI managed to force them not to hold Indian investments in the shape of USD for more than 24 hrs thus PayPal started forcefully sending funds to Indian banks.
But Bitcoin is another case. They cannot force BTC network not to hold Indian investors.
Then what will happen after 3 months? Are Zebpay, Unocoin going to find out another option or RBI will have to listen to their petition of reverse? What do you think will happen?
I think if this decision doesn't gets reverse. Zebpay and Unocoin have the option to continue operations out of india. But people will loose the option to invest in cryoto.
This would drive investors to choose grey market option which is not good economically for any growing country. @puregrace
Sounds painful! I earn only from Steemit and not sure about how to go further now. How to get INR from SBD in future. Hope there is some way out of this hell. Things have become so tough for me.
There are options like LocalBitcoins.com, grey market etc. But in this way Indian #investors / #traders / #steemians are being forced to increase black money.