Quote from: jostorres on December 21, 2021, 05:21:29 PM

Quote from: illusion_ishita on November 18, 2021, 03:16:26 AM

Union Finance Ministry has take a decision on a state-issued cryptocurrency soon but ban all private cryptocurrencies. The VHP leader had sought a ban on all cryptocurrencies alleging its usage to fund terrorism, drugs and other 'anti national activities'. As all private cryptocurrencies are still not considered as legal tender or coin in India, but the govt may introduce an official digital currency in India.

I think its a good decision by government.. What you guys think about it?

That’s still the same thing that other governments in other countries are doing, they are banning decentralized cryptocurrencies (bitcoin, ethereum, etc.) to create their own digital currency which is known as the Central Bank Digital Currency.

This has been done in countries like China and Nigeria, the both countries has banned bitcoin and other cryptocurrencies and introduced their CBDC’s known as the Digital Yuan, and E-Naira, respectively. While they have chosen to take this part, there are other countries that have chosen to rather embrace cryptocurrency and declare it a legal tender. One that we know of right now is El Salvador, and there are others that have been said to have same plans.

They can do whatever they want, it does not mean that we are going to adopt those coins at all, in fact the reason many people are adopting bitcoin is to stay away from fiat currencies, so it does not matter how much they try to obscure the reality through their lies, we know those coins are just a new form of fiat and we will stay away from it, and this means that while they can deceive the general population which do not know anything about the economy or the monetary system they will never deceive us, and as such bitcoin will keep existing despite their best efforts.