India Said To Introduce Law To Ban Trading In Cryptocurrency

Discussion in 'Cryptocurrencies' started by dealmaker, Sep 15, 2020 at 10:29 AM.

  1. dealmaker

    dealmaker

  2. Good. That shit is a waste of time and resources
     
    ET180 and Millionaire like this.
  3. ET180

    ET180

    Mostly agree. But I like how cryptos put pressure on the central banks to somewhat check their relentless currency devaluation. Also like how cryptocurrencies can be used to escape taxation in case taxes become too confiscatory. Wealth tax? F* that. Put it all in cryptos and leave the country.
     
  4. Whatever country you go to someone will expect an exchange of currency , for food, shelter. The cops will demand it if your tail light is out. They will throw you in jail if you don't have enough. If you are using a medium dependent upon commodity hardware ,phones , electricity, you are fucked . Lose the file? Fucked. Forget the password ? Fucked . Miles and miles of technobabble defining the spec.. even the people who talk about it look and sound like deranged delusional nerds
     
  5. Pekelo

    Pekelo

    Completely untrue. Didn't the US as a stimulus money just create trillions out of thin air?

    And cryptos don't put pressure on other cryptos either. The more successful a crypto is, the more imitators created to compete with it.
     
    stochastix likes this.
  6. They

    They

    *India has biometric data on 88% of its population

    *India was able to stealthily sledgehammer its black economy by replacing the 500Rs and 1000Rs notes overnight

    *Accept it or not Cryptocurrency does facilitate a black economy and if this bill gets passed it will wipe 1 Billion plus users out of the cryptosphere

    India might just do it.
     
  7. AbbotAle

    AbbotAle

    The paradox of banning Crypto currencies is that the banning proves they work...