One in four Bitcoin transactions takes place in India. So the government not recognising it as currency is frankly like me not recognising the sky is blue even though it is.
Who on earth do these people think they are? You run a currency, not the internet, you don’t have any right to control something you don’t own. Will people stop using Bitcoin just because the government says so? No of course not, in fact, it may have the opposite effect of INCREASING the use of it. It is amazing how many people will do pretty much the opposite of what they are told when it comes to freedom.
So my message to those wise Indian friends involved in crypto. Be strong, make it happen!,I notice as well that the government wants to use the blockchain technologies to develop their own currency ideas. Wait, so Bitcoin that runs on the blockchain IS NOT currency but if you create a currency on the blockchain it is currency?
Cryptocurrency cannot be stopped by any government because they don’t own it, they can try and curb its use, they can make statements, they can scream and holler, but like a 5-year-old with a tantrum eventually they would realise that international trade will be much better without tariffs. If we pay in Bitcoin – there are no government-imposed tariffs. Perhaps international pressure might get them to think differently.
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