Here is a good article by @alexvan about the crypto ban, or the now non crypto ban, in India.
Wax on. Wax off.
https://leofinance.io/@alexvan/no-crypto-ban-in-india
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Here is a good article by @alexvan about the crypto ban, or the now non crypto ban, in India.
Wax on. Wax off.
https://leofinance.io/@alexvan/no-crypto-ban-in-india
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Yea I saw the article. I also commented about how it's ban then no ban. It's a cycle and I wonder where it all ends. Even if they do ban, it's not like people will stop and they will search for a work around.
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This seems to be the path of governments with crypto. It is like they dont know what to do. They are all for it, then against it. They cant decide if this will crush then or set their economies flying.
The answer is it will probably do both: set the economies flying and make governments, at least to a degree, obsolete.
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I think the fight won't come easily. I think the closest one to making things work in their favor is China and the digital yuan. If they force all applications to transact using this currency, businesses will be forced to use currency conversions and thus banks will be a part of the system to convert any fiat/CBDC.
I wouldn't like this system but I feel it is the most practical for the governments. However eventually people will get fed up and want to change to crypto.
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Combine crypto in China with the much-vaunted social credit score, and you've got a powerful one-two punch.
This will allow this "new way" to suffuse itself through Chinese society and as we see with California, what happens there, will eventually find it's way over here.
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It is actually bigger than California.
The IMF is adopting a form of a social credit system in the lending standards. Thus, if you go for a loan, they will look at more than just your credit score and income. We will see things like the websites you visit looked at and your social media content.
This is going global without people even realizing it. The marxist thought is everywhere.
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It's already happening. We got so much political division in the country that people have already started banning each other all around the country. As for California, I don't think its a lost cause yet. They didn't pass the discrimination amendment and everyone can tell that the state has not improved as much as they claim.
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China certainly has a leg up over most countries. They are overtly authoritarian while also being a very technologically advanced society. So this lines up well for them.
Most other countries will tend to fall in one area or the other.
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Just like me lol . I am already trying to find a work around in case they ban it but the downside is there will be hesitancy in putting fiat into crypto or in other words , there will be less investment into crypto by Indians .
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I am happy right now , I saw the news interview live and was glad to hear that from our minister but they can turn their views very quick and that is something we should keep in mind . It has happened before as we all know it.
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I hope they don't change their minds this time. I don't live in India but I imagine that crypto is turning around the lives of a lot of people.
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Definitely , it is a great opportunity for someone like me who can actually get lots of experience and knowledge and practice together with earnings here.
!BBH
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Command accepted!
Because this is such an awesome post, here is a BBH Tip for you.
. Keep up the fantastic work
We also have similar issue here in Nigeria and we are getting the best out of the ban with the P2P that cryptocurrency offers.
I believe people will always find a way out of the government Loop
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They will.
Look at the Chinese. How many times have they embraced, then turned on, Bitcoin.
Governments are uncertain what to do so they just keep waffling back and forth.
In the meantime we just keep developing.
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India. That reminds me of Firepower. He's also from India and I recall him posting about the ban. Have not seen a post from him in a minute and wondered if he made the jump over here. He was one of the few whales that would responded regularly to young minnows.
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Alexvan is from India ? I didn't know that actually lol . Maybe the name Alex threw me off or are you talking about someone else?
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@firepower is a well-known blogger (and very kind whale) that started out early on Steemit. He's from India and was one of the first to inform us about the possible banning of crypto in India.
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Oh okay I thought you were talking about alexvan , that's why I got confused.
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