Did India Ban Cryptocurrenty | How India Impacted Bitcoins Price Drop
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India has had a huge impact on the cryptocurrency market.
After false news came out that reported India banned cryptocurrency, we saw a deep decline in the price of Bitcoin.
People have been spreading FUD around like this is the end of the world as we know it. Nothing can be farther from the truth, "IN MY OPINION."
Governments have been not only embracing, but also using blockchain technology as well. I don't believe this is the future but this is the NOW.
Governments always take a longer set of time to get into certain spaces so enjoy the ride while you can!
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Every time shenanigans like this happen, I just close my eyes, and remember 20 years ago, when first webshops appeared, all the banks were screaming that every payment made online is a scam and that they, the banks, will never accept that as a payment method. Then I open my eyes and pay something with my crypto, because online banking is getting old.
I totally agree!! We are far ahead of the curve because so many people still don't even know what cryptocurrency is.
@byrondallen Your Explanation is really Good.
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I think you are right, let's enjoy the ride while we can. Governments will eventually accept the crypto's in large amounts.
Upvoted, resteemed and following!
Exactly!
Many politicians do not understand crypto and actually state in public that BTC is used for anonymous drug deals and funding terrorism as if cash has never been used for the same thing, lol. This latest flabberwapper just makes me think that someone in the know wants a cheap buying opportunity before their cash collapses. Think about it; governments around the world use Gold as their reserve instead of their own fiat toilet paper. I have a bank note of 1 Million Peruvian Intis and it doesn't even make for good toilet paper nor will it buy any, lol. Welcome and good luck here on Steemit/DTube. Greetings!
They are not stupid by a long shot hence the gold as the reserve. You said it right, they are preparing for the collapse the same way we are. Thanks!!
i am from india it was just a fud by govt dont worry they can do nothing .
How popular is Bitcoin in India?
I'm very curious about how cryptocurrencies will survive if they are banned all over the world. Because I just can not see them work in a black market.
Then we'd have to come up with a commodity currency instead.
Yeah it would be pretty hard for that. I don't see a worldwide ban coming but then again you never know
The media is spreading FUD left and right.
Exactly!!
Western MSM FUD
As always
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No, they haven't banned cryptos.
You should watch the video also as I go in to detail of how this impacted the price of Bitcoin