Bitcoin adoption in India can only grow if our government support it with favorable law and regulations. But unfortunately Indian government is quite negative about cryptocurrency and had imposed 30% tax on it. Honestly I didn't sell my bitcoins after this law came into effect.
So with this mindset of the government, adoption cannot grow. However, India has a good amount of population of cryptocurrency users. But they want to keep it secret because of all these nonsense tax imposition.
Topic: why indians afraid to invest in crypto - page 2. (Read 310 times)
many indian young people are lazy they want everything without doing anything. most of them follow big people or big influencers like warren buffet, some indian business coach like vivek bindra, etc.
they say bitcoin have no base, bitcoin is ponzi, bitcoin is a bubble, etc. and people listen them and be convinced that bitcoin is ponzi and spread every where like in friend circles, family, etc.
they do not do their own research, lazy people...
most of the big crypto youtuber are also don't have good understanding of bitcoin, they just search for crypto news on google and scroll every article and tell... there they done that, there they done that, this will pump, this will dump, etc. i quite watching those fake fuc*ing youtubers
I think a big reason is a negativity coming from Government, first, the government of India gives its stance against cryptos which obviously makes the TV media houses report it in that way, then people turn to youtube to look for extra knowledge then these so-called YouTubers & business coaches give their negative opinion around bitcoin to get quick views because the government said so. All these create a negative aura around bitcoin and people can then not think of buying cryptos. Also, another fact is the cyclic nature of bitcoin itself. Indians always have that tendency to be very safe with their money. For them even stock markets was for long just a way of losing money and most of the people started investing in last 4-5 years only. So cryptos which gives quick returns but also falls very quickly is a nightmare. they say bitcoin have no base, bitcoin is ponzi, bitcoin is a bubble, etc. and people listen them and be convinced that bitcoin is ponzi and spread every where like in friend circles, family, etc.
they do not do their own research, lazy people...
most of the big crypto youtuber are also don't have good understanding of bitcoin, they just search for crypto news on google and scroll every article and tell... there they done that, there they done that, this will pump, this will dump, etc. i quite watching those fake fuc*ing youtubers
Firstly, this is not only the problem on Indians, the condition is just same all over the world.
That is why they are called as influencers, they have the power to manipulate mass people into their way of interest for two reasons, one is they may get financial benefits, or they don't know anything at all.
Actually, India is not really worse in the adoption rate as per the report
Source: https://blog.chainalysis.com/reports/2022-global-crypto-adoption-index/
But we can do a lot better if government try to be supportive for crypto investors instead of hammering them with 30% tax.
Finally, about the YouTubers there are some really knowledge ones too, but they don't have huge subscriber count as others but they know about cryptocurrencies and blockchain technology, so you are looking at wrong persons.
That is why they are called as influencers, they have the power to manipulate mass people into their way of interest for two reasons, one is they may get financial benefits, or they don't know anything at all.
Actually, India is not really worse in the adoption rate as per the report
Source: https://blog.chainalysis.com/reports/2022-global-crypto-adoption-index/
But we can do a lot better if government try to be supportive for crypto investors instead of hammering them with 30% tax.
Finally, about the YouTubers there are some really knowledge ones too, but they don't have huge subscriber count as others but they know about cryptocurrencies and blockchain technology, so you are looking at wrong persons.
many indian young people are lazy they want everything without doing anything. most of them follow big people or big influencers like warren buffet, some indian business coach like vivek bindra, etc.
they say bitcoin have no base, bitcoin is ponzi, bitcoin is a bubble, etc. and people listen them and be convinced that bitcoin is ponzi and spread every where like in friend circles, family, etc.
they do not do their own research, lazy people...
most of the big crypto youtuber are also don't have good understanding of bitcoin, they just search for crypto news on google and scroll every article and tell... there they done that, there they done that, this will pump, this will dump, etc. i quite watching those fake fuc*ing youtubers
they say bitcoin have no base, bitcoin is ponzi, bitcoin is a bubble, etc. and people listen them and be convinced that bitcoin is ponzi and spread every where like in friend circles, family, etc.
they do not do their own research, lazy people...
most of the big crypto youtuber are also don't have good understanding of bitcoin, they just search for crypto news on google and scroll every article and tell... there they done that, there they done that, this will pump, this will dump, etc. i quite watching those fake fuc*ing youtubers
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