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RE: The Real Possibility That India Is Going To Ban Cryptocurrency Is Here!
If they are using word private cryptocurrency...does that mean they have any plan for introducing governmental cryptocurrency ???
Pretty bad state where these notices create lot of confusion .., till now i never comes across "private" in reference to crypto currency..but strange the government it using it publically....
Hope to see some good days ahead in crypto world
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Yes. The possibility that the (RBI)/Indian government may launch its own cryptocurrency is still a possibility.
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They know they are slowly loosing power. Rampant corruption and greed from within the government there has been holding India back from progress. Refusing to use the RBI crypto is the first step you all should take. They want to keep everyone on their leash. Soon they will have 0 control over currency and they'll have to ban the internet at this rate. Steem is spreading like the perfect crypto virus and its only going to get larger when SMTs come. Its important we keep spreading the knowledge and power of crypto into as many hands as possible out there. There are talks that smartphone use in India will surpass 700 million by 2020. This will get harder and harder to control and regulate. These crooks in charge out there will do anything to stay in the position their in. If that means starving the poor and taking your wealth they will do it. The current politicians in India are nothing but heartless puppets following the interests of others and collecting government money for themselves. Enough is enough. Its time to weed out the evil in India and give the power back to the people.
thanks sir
I love India and its spiritual strength but in these days all is corrupt in the goberments i feel so bad about that. In my country Argentina is the same.
good luck bro
If government launches a "crypto currency" it will be tied to the FIAT. So we will no more able to call it as virtual or crypto currency but it will be more like "digital money". Or in other words, its going to be similar to PayTM or other PPI wallets. With players like Jio have PPI licenses and government has spend large amounts to establish IMPS infrastructure based on which UPI runs, I think, India already has the FASTEST digital money system and also the fastest cheque clearance system. So, if RBI launching a crypto currency means, something that is built on top of say Ripple or Stellar Lumen, it will be just another waste of tax payer money. The existing IMPS network itself is not used properly and IMHO there is no use of RBI launching any virtual/crypto/blockchain based payment system.
That being said, I am quite sure that they will launch something like virtual/crypto/blockchain as its going to be completely useless and our number one priority is to do wrong things in the fastest way. So I believe and expect more waste of tax payer money just like Aadhar project.
NIce to hear that @firepower!
Remember jio had announced that it will release it's own crypto ? This one is gonna be pre approved by the government. Since modi ass kisses ambani in terms of business. Good luck India!