Quote from: South Park on Today at 06:50:09 PM

Quote from: qwertyup23 on December 26, 2021, 09:26:11 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?

I think this completely destroys the idea of financial freedom- in why why BTC was created in the first place. The idea of having a "state-issued cryptocurrency" but banning any other cryptocurrency equates to the idea of forcing someone to use a specific cryptocurrency in a country. Bitcoin was created in order to avoid any third-party consensus in handling our transactions- so again, this completely shatters the dream of Satoshi of having to attain financial freedom.

I doubt that this is a good decision of the government given that it equates to no other than having to use fiat, where you are subjected to use a specific cryptocurrency while banning others.

They do not really care about things like financial freedom and if anything they want people to be financial slaves, the ideals of satoshi in fact run against what they want which is why they will do everything they can to destroy bitcoin, right now we are seeing bans but if the economy keeps getting worse then it is entirely possible that in the future we will see them trying to prosecute anyone that deals or has dealt at some point in the past with cryptocurrencies, which is why it is important to not bring attention to yourself about the fact that you use cryptocurrencies, just in case this happens where you live.

Stay low key and dont tend to boast out that you are dealing with crypto even myself on the situation where i do live on which crypto is still on that neutral phase which they dont still make out reactions or steps towards it but i wont be surprised if they would end up on banning or prohibiting it basing on the things happening around on the market on where they do look that crypto is a scam or some sort of a high risks investment which they do give out warnings.
I cant blame them about being protective into its citizens but they shouldnt really make things even more complicated. warnings would be enough and hopefully they wouldnt
really be making further step on it.