Post
Topic
Board Bitcoin Discussion
Re: India to ban all cryptocurrencies - No need to panic though
by
aoihs00
on 01/02/2018, 11:30:30 UTC
News came today as Indian finance minister finally clarified that they will take actions to ban all cryptocurrencies.
https://qz.com/1148361/budget-2018-indias-government-wants-to-kill-bitcoin-but-it-loves-blockchain/
https://www.bloombergquint.com/global-economics/2018/02/01/india-to-curb-cryptocurrency-use-while-embracing-blockchain
http://www.keralanews247.com/budget-2018-arun-jaitley-speaks-about-bitcoin/

Personally I believe it's a mistake; but hey we are talking about government, which is naturally should be against mostly free and decentralized power of cryptocurrencies.

So, don't panic people. Hold your coins.

If you guys go through that document in detailed manner then we will come to know that they are going to explore the advantages of the block chain which means they are going to use it. So the guy Jatley whose finance minister will be going to open the roadmap for the exploration. I also see that southern India has already adopted the block chain in proactive ways and they are having the tie ups with Swedish startup ChromaWay! That is actually more good news than bad I believe. This is major change but the whole idea seems to be going towards the positive direction only. I think its no need to panic.  But the effect of this news can be seen clearly on the todays market.