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❕NEWS India may be ban bitcoin and other crypto currencies

CrazySher

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In recent days the Indian government is on the plan to ban bitcoin and other crypto currencies as they are not backed by the Reserve Bank of India, and India is also planning to introduce it's own crypto currency.
 

fastmoney1

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In this new era of technology and the world of cryptocurrencies, there are already several countries that are thinking of adopting measures to create their own cryptocurrencies so that their economies do not go bankrupt in the face of the great revolution that cryptocurrencies have had. . Let's wait and see what India does about it in the crypto world.
 

ELSA-ELI

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Sadly on this one india has pushed this agrnda and imposed a well streamed method by ensuring that the central bank makes non and void the transactions of crypto currency.This is very sad as it will influence the agenda and parliament can bite against for it them it can be be one law.

Once Th a Th a on effect,exchangers can't operate in India and banks can't link any transactions to cryptocurrency.China managed to do it Indus will do it aswel.The big question is why?
 

fastmoney1

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Sadly on this one india has pushed this agrnda and imposed a well streamed method by ensuring that the central bank makes non and void the transactions of crypto currency.This is very sad as it will influence the agenda and parliament can bite against for it them it can be be one law.

Once Th a Th a on effect,exchangers can't operate in India and banks can't link any transactions to cryptocurrency.China managed to do it Indus will do it aswel.The big question is why?
According to what you have stated, the vision that I have of all this is that these countries seek to control the world of cryptocurrencies by creating their own currencies by virtue of the fact that they have seen that their financial world has collapsed, they do that regardless the consequences against cryptocurrency holders.
 

ELSA-ELI

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According to what you have stated, the vision that I have of all this is that these countries seek to control the world of cryptocurrencies by creating their own currencies by virtue of the fact that they have seen that their financial world has collapsed, they do that regardless the consequences against cryptocurrency holders.
That makes alot of sense and quite Interesting to build on,it means these people are not against it but are against sonething that has not recognised their indigenous coin.So they are simply pushing to be on the block chain aswel.I will research about China and how they are doing it.
 

fastmoney1

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That makes alot of sense and quite Interesting to build on,it means these people are not against it but are against sonething that has not recognised their indigenous coin.So they are simply pushing to be on the block chain aswel.I will research about China and how they are doing it.
Thus, the rulers of India are looking for how they hold a cryptographic currency to be in that world, their interest is to seek to enter that world with their own currency.
 

ELSA-ELI

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Thus, the rulers of India are looking for how they hold a cryptographic currency to be in that world, their interest is to seek to enter that world with their own currency.
Are you having some facts with this data you are presenting or its just mere speculation that they want to diversify to other parts of the world as oppossed to just crewting a digital coin for its ingegenous?

I think its the only way it will work.This is because you just can't impose on people
 

BullyMaguire

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India already banned Cryptocurrency before as i recall? First Nigeria now it's india. Isn't that kind of hypocritical move to ban everything then start your own?
 

Brain

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In recent days the Indian government is on the plan to ban bitcoin and other crypto currencies as they are not backed by the Reserve Bank of India, and India is also planning to introduce it's own crypto currency.
This is better for Indians since there are proposing to have their own crypto unlike Nigeria that there's outright ban and no proposal on ground for now
 

CrazySher

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No, I'm from India and I use bitcoins but there is a partial ban before but now the government talking about a complete ban.
India already banned Cryptocurrency before as i recall? First Nigeria now it's india. Isn't that kind of hypocritical move to ban everything then start your own?
 

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India already banned Cryptocurrency before as i recall? First Nigeria now it's india. Isn't that kind of hypocritical move to ban everything then start your own?
That just shows that the only aversion these countries have to cryptocurrencies is the fact that it is beyond their control and having their own digital currency may give them some of that control.
 

Brain

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That just shows that the only aversion these countries have to cryptocurrencies is the fact that it is beyond their control and having their own digital currency may give them some of that control.
I always thought same just like with Nigeria, the central bank needs this control and without it they tend to limit it by issuing a ban. I don't think it a good thing to do now when the price is this high now
 

Brain

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well, this can bring a burden on to the youth that have already engaged in btc, but , there is always solution to every issues , as the government will introduce there own coins
I think the government just want a control and since they are not getting it then they are igitating for a total ban which I see this to not be the solution hete
 

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I think it would be hypocritical to ban Cryptocurrencies in the country and then go ahead to introduce their own coin. Digital version of their fiat maybe cool but then, how strong is the fiat currency?
 

microunit

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Banning other cryptocurrency other their than their own cryptocurrency might be good to boost their crypto, but that is if their crypto will be also available outside of their country, if it is only limited to their country then it's just same as them digitalizing their current currency
 

GoldenLady

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That just shows that the only aversion these countries have to cryptocurrencies is the fact that it is beyond their control and having their own digital currency may give them some of that control.
Unfortunately, I doubt their currencies will be as attractive as cryptocurrency.

The decentralized nature, the volatility, the freedom to transact as you wish may be something they can't replace.
 

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Unfortunately, I doubt their currencies will be as attractive as cryptocurrency.

The decentralized nature, the volatility, the freedom to transact as you wish may be something they can't replace.
All the points you have pointed out are quite true but I guess that the control that those governments want can only be achieved in such ways.
 

achawaskey

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I think they are trying to control the crypto world in India and at the same time introduced there crypto in order to make profit. I think this is what others countries should do.
 

Brain

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Banning other cryptocurrency other their than their own cryptocurrency might be good to boost their crypto, but that is if their crypto will be also available outside of their country, if it is only limited to their country then it's just same as them digitalizing their current currency
Well stated, this is the core issue that they need to look into because if it just limited to their nation's then it means they can't still use it for transactions globally which doesn't make much sense
 
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