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[Josemendez]

India is one of the countries known with gold investments o er the years . News gathered from Forkast has shown that citizens of India between 18 to 34 years have more of crypto than gold.

Despite India accepting crypto recently , the growth of crypto in India has risen from US$200 million to nearly US$40 billion in the past year.

What is your thought on this development ?

 

[Wisdom01]

cryptocurrency is the latest and trending Investment ,some people actually see gold as the traditional investment ,so obviously they would continue to place interest in crypto currency as time goes on , while little interest work be shown towards gold investments for the main time

 

[Jack / 47 F1]

India is one of the countries known with gold investments o er the years . News gathered from Forkast has shown that citizens of India between 18 to 34 years have more of crypto than gold.

Despite India accepting crypto recently , the growth of crypto in India has risen from US$200 million to nearly US$40 billion in the past year.

What is your thought on this development ?

theres more to the story why indians have lost interest in investing in gold. the indian government about 2 yrs ago, passed some new tax laws, concerning the buying, selling & owning gold. historically, indians stored their money or wealth in gold. there was also a lot of tax evasion or under reporting of gold transactions. so the indian government did what all governments do when they feel cheated out of tax revenues. they invented new laws, made it more difficult to buy, own & sell gold, among other stupid stuff.

so, what happened is, that the under ground market in gold & silver is really hot. people will now try not to buy or sell gold or silver officially. they prefer the black market. this is what happens when governments try to tax their citizens to death.

statistics regarding cryptos are easier to obtain. as its controlled electronically. meanwhile, gold & silver transactions are done in cash & not reported.

 

[Skysaint]

The hard truth is that nothing really lasts forever and a time will come when gold won't be as precious as it is right now probably because of new discoveries and inventions.
More people are interested in investing in cryptocurrency than investing in gold and I myself never thought that people even do invest in gold. I just pray that investing in cryptocurrency won't be a mistake in the end.

 

[BullyMaguire]

And it seems like crypto currency can lose its shine on india aswe because of their unreasonably huge percentage of tax. Right now it's easier to invest in crypto currency witha chance of getting good returns in just few years than invest in gold which is not volatile like crypto currency

 

[Horia_10]

Definitely more money laundering is done in gold and silver even now then in Crypto and the reason is they are physical assets that are valuable abd have a market of buyers that is big and more than $200t so that's a lot of money and Crypto market is not even 1% of it , So the people who know what is worth always take expensive things rather taking virtual things having no real life utility.