Topic: x - page 4. (Read 1121 times)
in my opinion, India has difficulty in the process of banning crypto currencies in its country. I see users of crypto currencies in India very much, besides that there are many companies that support crypto currencies in India. in my opinion the rising economy of the Indian community is caused by crypto currencies, so I strongly agree that the crypto currency is accepted as a means of payment because it provides a very large profit.
Its quite sad, I have been using bitcoin for 3 years now but because of the crash, bitcoin has been labeled a ponzi scheme and there are plans to ban it in india 
https://coingape.com/indian-lawmakers-call-ban-bitcoin-cryptocurrency/
https://www.ccn.com/why-indias-bitcoin-ban-could-disappear-after-march-29-hearing
edit: Im Indian
https://coingape.com/indian-lawmakers-call-ban-bitcoin-cryptocurrency/
https://www.ccn.com/why-indias-bitcoin-ban-could-disappear-after-march-29-hearing
edit: Im Indian
Its really so sad when thinking of Indian Government. Why they have not yet opened their eyes and be in line like other countries who have accepted bitcoin and crypto currencies. What should trigger them still to look upon its benefits. Indian politicians are much self oriented. Need to make them updated of whats going on around them.
It goes like this: Any asset that increases in value and price can be labeled as a ponzi scheme even it's not. It is because somehow someone else buys at a higher price (The Greater Fool Theory).
Now, because they don't understand Bitcoin, they can easily assume it is a ponzi because the earlier investors already made profit.
Now, because they don't understand Bitcoin, they can easily assume it is a ponzi because the earlier investors already made profit.
India can think anything especially when its come to media 
Joke? Joke? Try something new which makes India Laugh on you. 
You know its not a joke.
India can think anything especially when its come to media
Joke? Joke? Try something new which makes India Laugh on you.
Lol, typically in many countries, don't worry. Actually, I think the govt also realise that crypto and blockchain are in trend and useful (in the legal way). BUT, Bitcoin hasn't been widely amitted because the govt afraid of the development of Cryptocurrency will destroy old banking method. Furthermore, Bitcoin is used as the payment method of many scam projects, so people usually heard about Bitcoin via those fraud cases.
Maybe they judge bitcoin ponzi scam because they have a bad experience in making transactions, for example they make mistakes when making large amounts of transactions so that the funds they have are lost and not returned, or they see only from the negative side used by fraudsters to get money in the form of bitcoin. So they judge only from the mistakes they made themselves and the criminal actions of others without wanting to see many positive sides.
Did you know the concept of ponzi scheme? it is not about transaction but this is related to an investment. I would be fool if Indian government decide to ban bitcoin just because they assume some people there or government itself have a bad experience when make a transaction.
You have to read about ponzi scheme in order to not give a bad statement and allude to other issues which is not related to it. Check this link to learn more about ponzi scheme.
Its quite sad, I have been using bitcoin for 3 years now but because of the crash, bitcoin has been labeled a ponzi scheme and there are plans to ban it in india
I don't think the Indian government actually thinks that bitcoin is a Ponzi scheme. They're just saying that to discourage people from investing in decentralized Bitcoin because they can't make money out of it. The government doesn't want its people to use any other currency aside from its own.
Again, I thought that indian government were already accepting the bitcoin since they had made a plan to lift the ban of bitcoin. I am.not just sure because I am.not living in India but to think that there was a thread to.which its content stating that India has planning to lift the ban on cryptocurrency. Anyway, whatever decision they will make hoping that it will be for the goos of cryptocurrency.
Every government have their own judgement toward crypto.
Like my government see crypto as high risk activity and able to cause inflation so that's why my government still not legalize crypto yet.
Like my government see crypto as high risk activity and able to cause inflation so that's why my government still not legalize crypto yet.
Right, many governments are still in the opposite spectrum of the discussions. Other nations are very friendly and would like to see crypto move in the next 5-10 years. While other nations doesn't like it at all and an imminent ban is likely to take place.
For what I seen, crypto is not Ponzi because there is no 1 person or 1 company who own/control bitcoin but every people who trust and own crypto !
It really means that Indian government failed to realised what bitcoin. Calling it ponzi scheme is not true and we all know that.
and where exactly can I find a document proving that they think so ?
or even a single quote bar that dubious comment by one of the spokespersons
India just like Russia is sitting on the fence regarding cryptocurrencies
it has been a couple of years already since they can't say either yes or no to legalizing it
if the government thought bitcoin was a ponzi , they would have beanned it long time ago
or even a single quote bar that dubious comment by one of the spokespersons
India just like Russia is sitting on the fence regarding cryptocurrencies
it has been a couple of years already since they can't say either yes or no to legalizing it
if the government thought bitcoin was a ponzi , they would have beanned it long time ago
Every government have their own judgement toward crypto.
Like my government see crypto as high risk activity and able to cause inflation so that's why my government still not legalize crypto yet.
For what I seen, crypto is not Ponzi because there is no 1 person or 1 company who own/control bitcoin but every people who trust and own crypto !
Like my government see crypto as high risk activity and able to cause inflation so that's why my government still not legalize crypto yet.
For what I seen, crypto is not Ponzi because there is no 1 person or 1 company who own/control bitcoin but every people who trust and own crypto !
i guess india is one of the corruptest country's world wide.
I visited this country once .... and sure the government dont want bitcoin at all
regards
You are wrong, India is not even in the top 10 or 20 of most Currupted countries in the world. I visited this country once .... and sure the government dont want bitcoin at all
regards
Check here
https://www.ranker.com/list/the-most-corrupt-countries-in-the-world/info-lists?page=2
https://www.transparency.org/news/feature/corruption_perceptions_index_2017 (you may find more information here)
https://en.wikipedia.org/wiki/Corruption_Perceptions_Index
Government of India should find the way to legalized the Bitcoin rather than Banning bitcoin. And I personally think the Indian Government will not Ban Bitcoin. They are just avoiding Bitcoin now because of Election. We may find positive news regarding Bitcoin after Election.
much like my country men. Indeed, they are yet to understand that, legalizing Bitcoin can give them more was of moving funds. The reason i can purely see why Indian government thinks of Bitcoin as ponzi scheme is basically because of their forthcoming election to avoid money laundry. Its quite sad, I have been using bitcoin for 3 years now but because of the crash, bitcoin has been labeled a ponzi scheme and there are plans to ban it in india
I don't think the Indian government actually thinks that bitcoin is a Ponzi scheme. They're just saying that to discourage people from investing in decentralized Bitcoin because they can't make money out of it. The government doesn't want its people to use any other currency aside from its own.
The Indian government has long been unable to decide on the regulation of Bitcoin and the cryptocurrency market because of this, there are no educational programs in the country to raise public awareness of cryptocurrencies. But I think that after accepting Bitcoin in most countries of the world with a high standard of living, India will also change its attitude to Bitcoin and cryptocurrencies.
Its quite sad, I have been using bitcoin for 3 years now but because of the crash, bitcoin has been labeled a ponzi scheme and there are plans to ban it in india
https://coingape.com/indian-lawmakers-call-ban-bitcoin-cryptocurrency/
https://www.ccn.com/why-indias-bitcoin-ban-could-disappear-after-march-29-hearing
edit: Im Indian
https://coingape.com/indian-lawmakers-call-ban-bitcoin-cryptocurrency/
https://www.ccn.com/why-indias-bitcoin-ban-could-disappear-after-march-29-hearing
edit: Im Indian
A Ponzi scheme is an investment scam that pays existing investors out of money invested by new investors, giving the appearance of earnings and profits where there are none. Ponzi schemes are also known as pyramid schemes.
So every stock is a ponzi scheme, every coin is a ponzi scheme, fiat itself is a ponzi scheme.
Most countries of the world are now moving towards crypto regulations and that to me is a welcome development since cryptocurrencies will not be outrightly ban which is almost impossible. The Indian government is already on this bill since 2018 and uptil now nothing have been done in regard to that. The most aspect the government is interested in is in the area of security of investors found and tax.
What is so clear to someone with an open mind is that Bitcoin can be the digital gold and therefore has value on its own that can rise and fall depending on the market...precisely like gold or stocks or forex. How can this be a ponzi scheme when nobody is paid using the money that newcomers are paying? Yes, Bitcoin can be used in many pyramid schemes or programs online or offline in the same money that dollar can be utilized as the medium of exchange in any scam program (which does not make the dollar a ponzi).
Its quite sad, I have been using bitcoin for 3 years now but because of the crash, bitcoin has been labeled a ponzi scheme and there are plans to ban it in india
edit: Im Indian
edit: Im Indian
Not only in Indian but also in some countries, too they considered cryptocurrency as a ponzi scheme. And the fact that it is not easy to change their mind and to divert their trust in bitcoin. If India will going to ban bitcoin, it could be doomed for bitcoin and surely affect the market because of decreasing of the btc supporters and patronizers.
Well, it is not final yet. So, let's just hope that Indian government will think twice and reconsider such positive scenarios.
I hope Indian government don't ban bitcoin. Many indian developers who create good project and help this cryptocurrency economy to be better. I am not an indian but I hope that India can be good environment for cryptocurrency. Many indian earn a lot of money from bitcoin, so actually it can help india's economy to be better and better.
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