INDIAN FUD is FAKE - There was no reason to panic - page 2.

askmecrypto

full member

Activity: 406

Merit: 109

Quote from: prehisto on February 02, 2018, 10:21:36 PM

Ok, now this is becoming clear. It is not a question about is it fake or not but question of interpretation.
https://cointelegraph.com/news/india-bitcoin-prices-drop-as-media-misinterprets-govts-regulation-speech

Media is fast to grab any peace of information regarding bans of crypto because it gets so much traffic. Unfortunately it could have a quite a impact on market , especially when the makes is so fragile.

this is happening every single time. remember the chinese FUD? Later venezuella.

Investors need to become mature and come over these fake scammy news. Instead of trusting the Media they must do their research before panic selling.

prehisto

full member

Activity: 882

Merit: 112

Your Data Belongs To You

Ok, now this is becoming clear. It is not a question about is it fake or not but question of interpretation.
https://cointelegraph.com/news/india-bitcoin-prices-drop-as-media-misinterprets-govts-regulation-speech

Media is fast to grab any peace of information regarding bans of crypto because it gets so much traffic. Unfortunately it could have a quite a impact on market , especially when the makes is so fragile.

wolf one

member

Activity: 133

Merit: 22

There are so many rumors that I need someone like you to destroy rumors. I was surprised and skeptical about the ban on bitcoin in India, but many people have believed such rumors.

rickn

member

Activity: 406

Merit: 10

These bad news are just an excuse for triggering sales orders, chasing away panic investors with the market crashes, and for big investors to buy tokens and coins for ridiculous prices and arn high profits with a future appreciation

Ma.KattyClitoris

newbie

Activity: 29

Merit: 2

This is how the whales are playing,most of the big players and financial institutions are doing this a lot.Because you can pay a website with a little amount so they can start spreading FUDs like this.Most of the people will surely panic when the FUD is within their premises,so keep holding and do not let these FUDs fool you.

xiaoxz

member

Activity: 196

Merit: 10

In fact, not only India, but also China, the United States, all of these countries are encouraging the development of the blockchain. However, they are unwilling to see the chaos in the cryptocurrency market, especially ico, so they did ban ico.

askmecrypto

full member

Activity: 406

Merit: 109

Quote from: rejosh on February 01, 2018, 02:12:50 PM

Are you sure it’s a fake news almost all Indian news papers are reporting that India ban cryptos.

Its not a FAKE NEWS, but the MEDIA is mis-reporting the real speech and bringing the FUD.
Finance Minister has made his statement against usage of crypto in illegal activities and stating it as "Not a Legal Tender" << This doesn't mean that he banned bitcoin which mostly paid media is using to gain attention.

rehydrogenated

full member

Activity: 266

Merit: 101

Government regulations were known to happen from the first holders of Bitcoin. Government regulations will continue. The truth is, governments can't close Pandora's box. If they can Bitcoin, criminals will continue to use Bitcoin or something else. If the government bans crypto they might as well ban the internet.

askmecrypto

full member

Activity: 406

Merit: 109

Quote from: prehisto on February 01, 2018, 07:55:08 PM

Did read about this alleged banning situation in India and thought to my self that this is raely bad news if it is true because of the huge population of India.
Nevertheless Your post contains quotes as

Quote

the government will instead encourage blockchain technology in traditional payment systems

who are you quoting?
Source would be appreciated.

Source comes from the Finance Minister Speech itself, the wordings are as follows:

Quote

government would explore the use of blockchain technology to add muscle to the digital economy.

Jonsnowstark

full member

Activity: 364

Merit: 101

Indeed. The indian government is only against using bitcoin in illegal activities, not cryptocurrency itself. It is stated in this update http://fortune.com/2018/02/01/bitcoin-price-india/ that one of the bitcoin wallet generator stood up amid the announcement of the president and made clear what the president really meant. I hope people will look at the whole context of the announcement and not jitter and sell at one glance.

GayOfThrones

full member

Activity: 479

Merit: 103

This is clear. All mainstream coverage of cryptocurrencies lately seems to have had the only reason to create this FUD and push for the dump of the prices. Indian fake news are just the latest infoscam.

Endikadija

hero member

Activity: 1458

Merit: 509

Quote from: rejosh on February 01, 2018, 02:12:50 PM

Are you sure it’s a fake news almost all Indian news papers are reporting that India ban cryptos.

Read this dude. https://cointelegraph.com/news/india-bitcoin-prices-drop-as-media-misinterprets-govts-regulation-speech It may help you a lot.
People are feeling panic caused by so many FUD in these days. I remember yesterday bittrex released a statement to change all of USDT pair into the real dollar pair. Until the audit for tether will have done in the future and bittrex may stay in real dollar pair.

picaszo

member

Activity: 434

Merit: 10

I hope that's true. Many people are quick to panic with things like that, fake news is the fastest way to drop the price.

prehisto

full member

Activity: 882

Merit: 112

Your Data Belongs To You

Quote from: askmecrypto on February 01, 2018, 11:58:31 AM

Today, Indian Finance Minister has issued a statement:

Quote

The government does not consider cryptocurrencies legal tender or coin, and will take all measures to curb the use of these crypto-assets in financing illegitimate activities or any part of payment systems.

There is no statement about banning cryptocurrency in INDIA at all.
Read over that again...

'financing illegitimate activities' - This may include drugs/prostitution/terrorism/etc

On the contrary, the statement was continued as

Quote

the government will instead encourage blockchain technology in traditional payment systems

Thus, illustrating that the Indian government does indeed see the value behind cryptocurrency, if not as legal tender.

So, a shout out to all new comers specially from south asia, stop panicking and get matured over FUD.

PS: Leave a merit if my post helped you in any way. Wink

Did read about this alleged banning situation in India and thought to my self that this is raely bad news if it is true because of the huge population of India.
Nevertheless Your post contains quotes as

Quote

the government will instead encourage blockchain technology in traditional payment systems

who are you quoting?
Source would be appreciated.

askmecrypto

full member

Activity: 406

Merit: 109

Quote from: Cryptochuchis on February 01, 2018, 07:49:16 PM

Thanks you for spreading the word. People need to look further than just the local media, since it is trying to spread a lot of FUD recently

I will refer them as paid media rather than just the local media.
These guys get paid to oppose any statements released by the government, manipulate it in such a way that shows that the government is against the commoners, etc.

Cryptochuchis

newbie

Activity: 6

Merit: 0

Quote from: askmecrypto on February 01, 2018, 11:58:31 AM

Today, Indian Finance Minister has issued a statement:

Quote

The government does not consider cryptocurrencies legal tender or coin, and will take all measures to curb the use of these crypto-assets in financing illegitimate activities or any part of payment systems.

There is no statement about banning cryptocurrency in INDIA at all.
Read over that again...

'financing illegitimate activities' - This may include drugs/prostitution/terrorism/etc

On the contrary, the statement was continued as

Quote

the government will instead encourage blockchain technology in traditional payment systems

Thus, illustrating that the Indian government does indeed see the value behind cryptocurrency, if not as legal tender.

So, a shout out to all new comers specially from south asia, stop panicking and get matured over FUD.

PS: Leave a merit if my post helped you in any way. Wink

Thanks you for spreading the word. People need to look further than just the local media, since it is trying to spread a lot of FUD recently

askmecrypto

full member

Activity: 406

Merit: 109

Quote from: KryptoKai on February 01, 2018, 05:55:05 PM

Thank you OP for trying to bring some sense to all these fudders. Nothing wrong with what the Indian government has said, in fact all governments should be cutting illegal activities to encourage more investors to join in the crypto world. More development in real projects like NEO, is there an Indian version of ethereum?

Per my understanding. eventually if there are small regulations, it will bring more trust to general public and new comers. There is nothing bad with the statement and its been called upon in the same way since last 6 months.
Media is just manipulating the statement and people are falling for it.

Investors must become mature and start doing research instead of relying on paid media.

KryptoKai

full member

Activity: 630

Merit: 100

Thank you OP for trying to bring some sense to all these fudders. Nothing wrong with what the Indian government has said, in fact all governments should be cutting illegal activities to encourage more investors to join in the crypto world. More development in real projects like NEO, is there an Indian version of ethereum?

Iyanu14

member

Activity: 795

Merit: 10

Blockchain technology has come to stay nothing can stop it as internet can't be stopped have you ever asked your self who is dev behind the creation of first crypto. Who did the govt want to stop the anonymous dev or the internet service. I am not moved by any kind of fud.

rejosh

sr. member

Activity: 322

Merit: 250

Are you sure it’s a fake news almost all Indian news papers are reporting that India ban cryptos.

Topic: INDIAN FUD is FAKE - There was no reason to panic - page 2. (Read 544 times)