You are viewing a single comment's thread from:

RE: HOW IS IT WITH THE CURRENT CRYPTO BAN IN INDIA?

in Project HOPE4 years ago

Hello friend @crypto.piotr

This is a topic that requires a wide debate, since many of us who generate content on the steemit blockchain are rewarded with cryptocurrency, and that cryptocurrency in some way or another must have a sense of trustworthiness by governments so that we the users who are the ones who own them can change it to fiat money quietly, or otherwise we can use that cryptocurrency as a form of payment in some stores.

In reality, government regulations is what worries me the least, whether it is China or India that apply prohibition mechanisms in cryptocurrency trading, what will really prevail over time is the great utility of cryptocurrency.

The simple fact that cryptocurrency is decentralized and that anyone can invest in it without it being monopolized by the central banks of any country is what really makes the use and trade of cryptocurrencies globally attractive.

We must be smart and think about the following:

"When man only transported himself by walking, the technology of transporting himself on horseback emerged, when the first horses began to be sold perhaps it did not seem a profitable business, since the first people had accidents on those horses, which is why other people saw such technology of horse transportation as something risky, however as time went by horse transportation became safer and the business of selling horses was profitable."

"Then technology keeps advancing and automobiles came out, surely the same thing happened, the first people who bought cars had accidents, the other people just did not buy cars, so the business of selling cars at the beginning must have been quite bad, however by today we can see how the car business is one of the most profitable today."

If we take into account the two examples explained above, the business of buying, selling and trading of cryptocurrencies is just being born, i.e. it is still very young, which is why we should not panic about the regulations and prohibitions by the governments of the countries, for surely it will not only be India and China who will want to prohibit the marketing of cryptocurrencies, surely as time goes by there will be many more.

What should really worry us is that governments do not really try to ban cryptocurrency trading, because if they do not ban it is because the cryptocurrency would not have a sense of autonomy and sovereignty in citizens around the world, while they continue to prohibit it is because the issue of cryptocurrency is going excellently well.

Sort:  
 4 years ago 

Wow @carlos84

what an amazing comment. You're not from India so I was quite surprised to see your feedback :)
(comment upvoted already)

"When man only transported himself by walking, the technology of transporting himself on horseback emerged, when the first horses began to be sold perhaps it did not seem a profitable business, since the first people had accidents on those horses, which is why other people saw such technology of horse transportation as something risky, however as time went by horse transportation became safer and the business of selling horses was profitable."

This example would make more sense if you would stick to story about car instead of horse :)
People used to ride horses even before money has been introduced.

Cheers, Piotr