Topic: Introducing a state-issued cryptocurrency (Read 556 times)
Myanmar already declared USDT as legal tender.
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.
What happens is that they are not acting out of good faith for the well-being of their citizens, they are protecting themselves, politicians only care about one thing and that is power and then once they obtain power they care about maintaining what they already have and obtaining even more power, they see in bitcoin a tool that is outside their control and that weakens their power, so of course they are going to do everything they can to weaken it or destroy it. 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.
Just like what China did, they ban all kinds of crypto and then try to introduce something to the population that's basically the same but with the downside of being stupid and invades someone's privacy. I don't think that it's a good move, India should've just let crypto proliferate in their country and just benefited from the growth.
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 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.
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.
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 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.
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 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.
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?
That’s still the same thing that other governments in other countries are doing, they are banning decentralized cryptocurrencies (bitcoin, ethereum, etc.) to create their own digital currency which is known as the Central Bank Digital Currency.I think its a good decision by government.. What you guys think about it?
This has been done in countries like China and Nigeria, the both countries has banned bitcoin and other cryptocurrencies and introduced their CBDC’s known as the Digital Yuan, and E-Naira, respectively. While they have chosen to take this part, there are other countries that have chosen to rather embrace cryptocurrency and declare it a legal tender. One that we know of right now is El Salvador, and there are others that have been said to have same plans.
I think its a good decision by government.. What you guys think about it?
I think everything will be fine if there are side by side between digital money and crypto, it's just that the government is not afraid of a large fund expansion if not with a mature plan, not to mention whether digital money can accompany crypto money, that's all in my mind if indeed digital money has been launched, maybe my country and India are the same as a country that has a very high fiat exchange rate with usd
Any state issued shitcoin is just "currency" and not "cryptocurrency". Especially in India and China, the governments seems to have realized that if they ban the real cryptocurrencies, then they may be able to fill the vacuum with their own state approved shitcoins. And here in India, a lot of people actually support such draconian initiatives. I have talked to a number of retarded people, and they claim that cryptocurrencies should be banned because only the government should have the power to issue money. They fail to realize that cryptocurrencies are more like an investment asset.
Digital e-fiat shit coin currency in short or in long terms. 
This had nothing to do with crypto and they had just made out their own centralized coin which is just similar to fiat which is something not really surprising for government or state to create on and would totally avoid
on adopting or make use of crypto directly which it isnt really that surprising eh? They would create their own rather than on dealing with something that cant be handled nor monitored out.
They've hated decentralization on the first place and for sure they would really be hyping and mandating this on best extent that they could.
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?
That’s still the same thing that other governments in other countries are doing, they are banning decentralized cryptocurrencies (bitcoin, ethereum, etc.) to create their own digital currency which is known as the Central Bank Digital Currency.I think its a good decision by government.. What you guys think about it?
This has been done in countries like China and Nigeria, the both countries has banned bitcoin and other cryptocurrencies and introduced their CBDC’s known as the Digital Yuan, and E-Naira, respectively. While they have chosen to take this part, there are other countries that have chosen to rather embrace cryptocurrency and declare it a legal tender. One that we know of right now is El Salvador, and there are others that have been said to have same plans.
Any state issued shitcoin is just "currency" and not "cryptocurrency". Especially in India and China, the governments seems to have realized that if they ban the real cryptocurrencies, then they may be able to fill the vacuum with their own state approved shitcoins. And here in India, a lot of people actually support such draconian initiatives. I have talked to a number of retarded people, and they claim that cryptocurrencies should be banned because only the government should have the power to issue money. They fail to realize that cryptocurrencies are more like an investment asset.
You cannot really help those that do not want to help themselves, inflation all over the world is growing up at an alarming rate and we know the governments are at fault, so it does not make sense to think those that caused the problem are going to have the solution.And yet that is precisely what people do over and over again by relying on the government to solve their problems, so I recommend that you do not waste your breath talking to people like that, let them think whatever they want, if they are lucky they will wake up to the truth eventually and invest in bitcoin, and if not then that is their problem, let them deal with their problems and let them watch how their fiat and their digital equivalents get worthless day by day.
Any state issued shitcoin is just "currency" and not "cryptocurrency". Especially in India and China, the governments seems to have realized that if they ban the real cryptocurrencies, then they may be able to fill the vacuum with their own state approved shitcoins. And here in India, a lot of people actually support such draconian initiatives. I have talked to a number of retarded people, and they claim that cryptocurrencies should be banned because only the government should have the power to issue money. They fail to realize that cryptocurrencies are more like an investment asset.
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'.
Doesn't this mean that our freedom and right to use our money is severely restricted? And is it true that they will actually track where we are using those crypto assets? Will the crypto be banned or the person? What if only a few people use it for criminal purposes? Will it have an impact on the crypto asset ban even if only a few people or maybe 1 person violates it?
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'.
Doesn't this mean that our freedom and right to use our money is severely restricted? And is it true that they will actually track where we are using those crypto assets? Will the crypto be banned or the person? What if only a few people use it for criminal purposes? Will it have an impact on the crypto asset ban even if only a few people or maybe 1 person violates it? I think its a good decision by government.. What you guys think about it?
Are you joking?
In the Bitcoin forum par excellence, what do you think we will find? We are for a decentralized currency and not the digital versions of the crappy fiat currencies controlled by governments and central banks.
Being in a state of liberty or having financial freedom was truly the best option we had, and not being worried about the inflation because we can adjust to it.
We need to trust that governments and banks will not abuse their power, and the issue is they always do, so a system that eliminates trust from the equation and that at the same time gives the power back to the people is what was needed, and that is exactly what bitcoin does.
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.
When the CBDC or whatever they want to call it comes in, it is going to be a wild chase for Tether and all the similar companies. People keep believing that the market will not look at these but the reality is that if you have BTC-USDT pair on one hand and BTC-USD on the other legitimately, literally backed by the government instead of some crap company based in Bahamas backing it, then people will prefer the government backed one. Yeah, sure we do not like the government hence why we invest into something decentralized and all that but that is just a lie to tell ourselves.The reality is that people come in here for money, ETH is consumed by Vitalik, Tron has been playground of Justin Sun, SOL is loved so much but froze blockchain with a snap of finger when there was a problem, we haven't been decentralized in a long time, Tether has been the biggest proof of it, tens of billions of dollars given to them with the understanding it could be taken back if needed, who knows? Maybe we won't be. US government still is better.
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.
It’s unnecessary for them to ban bitcoin and other cryptocurrencies. I know that majority of them these days now wants to create their own digital currencies (CBDC), but that is not enough reason for them to ban bitcoin. If they are saying that bitcoin is being used for funding terrorism, drugs, and other antinational activities, then they should prove it.Do they have any proof at all that it has been used for one of those in any way, thereby affecting the country? If they do, then they should provide the proof that shows that what they have said is the truth. Not just making assumptions all the time to put things in their favour, it doesn’t make any sense at all.
A digital version of the state currency. I don't see anything that has changed from just using fiat and a state-issued cryptocurrency. This isn't heading in the right direction, this is outright forcing people to ditch bitcoin and other crypto in favor of their own. There is no freedom in there and it will just force people to seek for avenues on where they could get their hands on bitcoin. This isn't solving any problems, this is actually creating another one.
States and their governments look at this problem from a completely different angle. For them, first of all, the efficiency of their digitized national currencies is important. And their CBDCs, using blockchain technology, are indeed becoming much more efficient. We will be able to see this soon enough when governments start issuing their central bank stablecoins in large quantities.The existing private and other commercial stablecoins are competitors to them and could easily be banned, citing low safety for people and possible violations.
I think its a good decision by government.. What you guys think about it?
Are you joking?
In the Bitcoin forum par excellence, what do you think we will find? We are for a decentralized currency and not the digital versions of the crappy fiat currencies controlled by governments and central banks.
Being in a state of liberty or having financial freedom was truly the best option we had, and not being worried about the inflation because we can adjust to it.
There's a massive cracking down for privacy coins. This is what most states are doing. Why they just can't embrace all types of crypto? They're all concerned about illegal trades but didn't they know that cash is more used for those type of transactions?
There's even no way for people to track it unless you're dealing with the authorities that will use marked money. But it's a different thing, well, they ban cryptos and pushes people to use their own made cryptos, the cbdc's.
Governments are never going to listen to that kind of argument because it does not fit their narrative, they want to paint fiat currencies and any money printed by them as being on the side of justice and cryptocurrencies to be on the side of criminals, we know this is not true but people that are not informed about this will buy their explanation and will give them a chance to try to destroy or at least to limit the influence this market can reach, but I think that with institutional investors already part of the bitcoin ecosystem we can safely say they have failed on all fronts of their fight against this market. There's even no way for people to track it unless you're dealing with the authorities that will use marked money. But it's a different thing, well, they ban cryptos and pushes people to use their own made cryptos, the cbdc's.
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