the decision from RBI will cost a lot of money for the users from India and hopefully we will see a reversal at a later stage when they understand the real and the fundamental behind the coin rather than pointing out the negatives.
The decision was pretty arbitrary. Typical of the fumbling, floundering dispensation we have at the helm right now. You make a fair point that the people who have been burned will probably take their time to actually know about it before investing again.
They will surely be intrigued that why it's maintaining value despite the ill news. That's when it's border-less and peer-to-peer nature should dawn upon them.
The post from Koinex guys is appreciable but to be honest, they are out of their depth right now. If RBI strictly follows through with the announcement in the official circular, they won't have many options than to close shop. I am not very hopeful that the inept and politically-occupied government we have now, will bother with the nuances to ensure a balanced decision.
A blanket ban, though temporary, is something we should all prepare ourselves for.
