Topic: india may launch its own cryptocurrency - "lakshmi" - page 2. (Read 978 times)
Just as I expected, someday there will be a time when the countries competing to have their own digital currency. Their reason is for transparency of transaction but there maybe big plans behind it. The effect to Bitcoin I’m somewhat dubious because of the different market share and possibly "laxmi" is just equivalent to another altcoin.
According to a report in Business Standard, sources in the government said that a committee was set up to discuss the proposal of having India’s own cryptocurrency, as an alternative to the Indian rupee. the reserve bank's chairman said in a committee that they are not comfortable about the non-fiat cryptocurreny like bitcoin. so they launch there own cryptocurrency in india known as "lakshmi". also this would require the amendement of the currency act. So could this decision lead to a major effect on the market of bitcoins or not???
Government trying to form their own centralized cryptocurrency since they have seen that bitcoin is uncontrollable. They should go ahead and let us see who is going to be dumb enough to make use of what they have. I do not really see how this would be of much importance even to the crypto society and apparently will not even be a global currency.
Eventually, most people in India will stick to bitcoin as their preferred payment method, leaving the government with her own digital currency. Although, the good thing about these whole thing is that it is obvious blockchain technology is making a huge impact all over the world.
it's very interesting that situation. I hope that it's a fake news.
It's not a good point for the Bitcoin for me. Because a state could delete one of its challenger.
Bitcoin is just still legal in India, so why ?
It's not a good point for the Bitcoin for me. Because a state could delete one of its challenger.
Bitcoin is just still legal in India, so why ?
It looks like quite a few countries and banks are planning to launch their own cryptocurrencies. It is indeed a very interesting development.
However, it is very difficult now to say how will all these "official" government or bank issued cryptocurrecies influence Bitcoin and the whole crypto ecosystem. It can both boost it and push it down.
However, it is very difficult now to say how will all these "official" government or bank issued cryptocurrecies influence Bitcoin and the whole crypto ecosystem. It can both boost it and push it down.
Some months Citibank announce that they gonna lauch their own altcoin soon and they gonna adopted bitcoin payment system.
However, developing country like India cannot o with bitcoin payment option and earning method as they have the over population in the country and other educated people will affect because of it
I do not believe in such a development. I think that India will go towards the creation of electronic money which will directly be related to the rupee. It will not be a cryptocurrency in the classical sense, and it will be completely under the control of the government. This way will use all the countries to stop the advance of bitcoin.
According to a report in Business Standard, sources in the government said that a committee was set up to discuss the proposal of having India’s own cryptocurrency, as an alternative to the Indian rupee. the reserve bank's chairman said in a committee that they are not comfortable about the non-fiat cryptocurreny like bitcoin. so they launch there own cryptocurrency in india known as "lakshmi". also this would require the amendement of the currency act. So could this decision lead to a major effect on the market of bitcoins or not???
please include the source link i want to read too, after dubai now india and if this is true then the popularity of crypto currency will get better
many countries want to do it. But what about the situation w Crytocurrencies on Indian market
This was always on the cards, expect more countries to develop their block chains, which may replays fiat national currencies in the long term. Only problem here would be centralization.
It seems after all that talk about crypto currency not going to succed in terms of being a viable asset is just nonsense cause in the end their just going to make their own altcoin or it is just they hate the decentralized currency so much will they that is one of the main perks of bitcoin. I think if their planning to make their own token it could potentially fail or succeed if the people chose to use it or not. Who knows.
Until there is no official confirmation from respective Indian authorities, it's hard to tell what effects such lakshmi launch will have on the crypto- community. To me, it will result positively anyway 
Even if India lauches its own crypto currency bitcoin will still survive and the users of bitcoins will continue to use it no matter even if there is any other crypto..by the way what would be the price of Lakshmi?
The launch of lakshami coin in India is not yet confirmed by any official source but I won’t be surprised if the Indian government comes up with its own cryptocurrency because banks are trying blockchain as a technology and to make blockchain work it would need some cryptocurrency. Since it doesn’t trust Bitcoin it may come up with their own currency.
However, I can't find a single country that has launched its own crypto currency and become successful with. It will just be another commodity and you can't even trade it outside. If they want to try blockchain then they can used it to their banking system. They don't trust bitcoin and either their fiat. Remember that they have demonetized their system. But I don't know if they succeed in their goal of really purged the market with black money. And lately there are news that they are going to regulate bitcoin so let just see how everything pans out. I think they should reconsider bitcoin because the Indian bitcoin community will really benefited from it. They should follow what Japan did to their country. Adopt and embrace bitcoin. 
The launch of lakshami coin in India is not yet confirmed by any official source but I won’t be surprised if the Indian government comes up with its own cryptocurrency because banks are trying blockchain as a technology and to make blockchain work it would need some cryptocurrency. Since it doesn’t trust Bitcoin it may come up with their own currency.
This is just to look into the proposal of settig up one, this is not a small decision to make as you people make it to look, even if they want to this make take more time than initially anticipated
and it will be like other coins that we can view in market. From many countries people produce the hundrets of coins. Or it will be at the state level?
I think Dubai is also in the same race and after them India is following too ! That's sounds pretty good impact of the bitcoin or crypto currencies over the different countries. I'm wondering why India took the sudden decision of creating their own crypto currency. They are really trying to make the India a digital country with fully equipped technologies from around the world. I'm sure they might be having some sort of future plan with the so called "Laxmi" coin. This might be probably to attract the fellow Indians to invest money into this coin which will ultimately go into the Indian economy itself thus the countrys money stays in the country itself. That could be the real play but it would be exciting to see how people will react to the coin which is completely centralised under the government regulation.
50% of population in India are homeless. What the heck are they trying to prove with this national cryptocurrency?!
the popularity of bitcoin is growing everyday and since it has always been open source and under MIT license everyone uses it somehow.
these government-issued-cryptocurrencies are not new. there are a dozen of them at least. many of them started working on the project a while ago and some of them are starting this year with the growth that bitcoin has.
the blockchain technology is obviously something very interesting and useful. but it remains to be seen if they can successfully create something useful from this technology and improve the banking system or just create something centralize and fail.
these government-issued-cryptocurrencies are not new. there are a dozen of them at least. many of them started working on the project a while ago and some of them are starting this year with the growth that bitcoin has.
the blockchain technology is obviously something very interesting and useful. but it remains to be seen if they can successfully create something useful from this technology and improve the banking system or just create something centralize and fail.
This is fucking god damn exhausting. 
Uhh what the fuck for ?
AND.. more importantly.. WHAT ?
Seriously what ?
What are they going to "launch" (code word for ICO ?)
You mean a "crypto currency" ?
What another one ?
Seriously like WTF ?
I have not seen any reply here but on this topic but i guarantee no one asked or cared....... WHAT.
They just see ICO investment penny stocks on centralized govt controlled exchanges ROI's. $$$
Same shit.. different pile.
What another country coin ?
What like AUR ?
How did that work out ?
You are all insufferable.
Uhh what the fuck for ?
AND.. more importantly.. WHAT ?
Seriously what ?
What are they going to "launch" (code word for ICO ?)
You mean a "crypto currency" ?
What another one ?
Seriously like WTF ?
I have not seen any reply here but on this topic but i guarantee no one asked or cared....... WHAT.
They just see ICO investment penny stocks on centralized govt controlled exchanges ROI's. $$$
Same shit.. different pile.
What another country coin ?
What like AUR ?
How did that work out ?
You are all insufferable.
This will be very interesting.
I bet few countries cryptocoins are going to be hacked. As they are really bad in cyber security.
Can you imagine that central bank of x country wallet hacked? lol this will be really funny.
I bet few countries cryptocoins are going to be hacked. As they are really bad in cyber security.
Can you imagine that central bank of x country wallet hacked? lol this will be really funny.
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