In the last 24 hours since the latest round of FUD from Indian news media outlet Bloomberg Quint which has spiralled out of control with news media all over reporting about it. Even though it lacks credibility and offers zero evidence. My post on that is here.
Even if we were to believe the ban is for real, and we decide to panic sell and exit now it's our own undoing. I'm writing this post because i'm quite frankly exhausted from responding to queries from people about the impending ban in the last 24 hours.
Everyone has their own theories and no one wants to wait for such a policy draft to be made public. Not a single so called expert on Twitter or YouTube have the slightest idea about the actual regulations in the upcoming draft on blockchain and cryptocurrency.
Most of these people including the journos from India have become overnight experts on the matter only since after the bull run of 2017.
Half of them probably don't hold a single crypto or have any real skin in the game. They will speculate on the death of crypto in India till cows come home.
If you base your investing decisions on rumours, fake news, clickbait articles and all kinds of random nonsense that's out there on the web for your consumption then you are destined to fail and if you do end up failing then you certainly deserve it.
It's harsh and that's the truth!
If you are going to chicken out over some random news and are not ready to voice your concerns to the government through appropriate channels then you probably should exit right away and not wait for some imaginary ban to come into effect.
If the government of India wants to stop it's citizens from legitimately earning a living from the crypto space or speculate to create and grow their wealth, then it's our duty as citizens to fight the government and force them to reconsider.
If you are not willing to do anything and accept whatever is thrown at you, then you might as well suck it up and accept whatever happens.
I'm against these restrictive policies of the government and have been voicing my opinion on the same throughout all this time.
I strongly suggest everyone to inform your friends or family not to panic and spread fake news. Until we hear from the government about a ban and what steps they intend to take to enforce such a ban etc we shouldn't worry too much.
We must raise our voices when the time comes and stand up against any nonsense policies of the government and make sure it remains inclusive of the developments taking place in the FinTech space. We shouldn't roll over and allow our government to pass bills that take our right to earn a living.
If you want to make some real money in crypto then be prepared to do this.
Else, just leave now as the crypto space is not for you!
If you like my work kindly resteem it to your friends. You may also continue reading my recent posts which might interest you:
- Why You Should Vote For Firepower As Witness—Witness Campaign Post From India!
- Steem.Chat Contest #81
Regardless if the news is real or fake, I ask the people of India, in silent protest, to buy a little crypto. They should do their own research, find one they like and buy some. Show the government that your mind is yours and you are powerful enough to make your own decisions 🙏
On the other hand, if it's even being considered to ban crypto... What an absolute failure of thought by the Indian government! Would put the nation of India back light-years!
I sold all my Bitcoins now because they say it is going to zero, I am glad that I did.
hahaha!
Hahahahah
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"You Will Fail If You Base Your Investments On Mainstream" - This is probably one of the first and most important rules of investing. When some type of investment reaches mainstream it is already on the hype phase and it will come down very soon. Just like it happened with BTC during the bull market, the media started to talk about it months before it started to deep.
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Unless you are very favorable about a certain project, why invest in crypto at all? It seems where crypto really wins is when more people start earning it. Bypass the banks and credit corps completely. I may not hold as much as others, but I've never spent a cent on crypto.
Its better to go jail instead of selling our bitcoins because after 10 year bitcoin will hit 10M mark.
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TV programming is called programming for a reason. To brainwashed people who are watching it, fake news is really a thing in our present generation. Fake news is much more become viral on trending than honest news.
I want to quote what I heard from @fulltimegeek...
When people realised it is more harder to mine truth than Bitcoin, people will start flocking on Steem...