Well, it is painful. Yesterday, the RBI made its declaration of "ring fencing" banks, to protect from risks against crypto. At the same time they said they are developing own cryptocurrency.
My question. Will that even be a cryptocurrency? Will that even be on blockchain? It will be just a distributed ledger between banks, with numbers printed on top. Our government doesn't give a fuck about data protection. So much so that, they said in Supreme Court that Aadhar data is protected by a 13 feet wall. What if it suffers 51% attack? Will they type new numbers, or just ask us to bail in?
When Scams of the order of 12k crores in INR have happened the government was silent. When people make decisions to invest in something of their choice, they jump in to PROTECT people.
If you know bitcoin is a ponzi, why don't you fight it out in an open market rather than force your choices on us?
I will continue hodling. If it takes 5 years to clear out this shit, then so be it. There will countless bull runs, and countless FUD in between. But I am satisfied that debt based fiat will soon run out of gas.
An entire generation will know Blockchain is a ponzi .( yeah blockchain and crypto isnt the same thing. But if a blockchain isn't decentralized and censorship resistant, its just a database. An improved database. Would you like to be the slave of corporations and sell yourself to the likes of FB and Google? Your choice). An entire generation will be crippled, and will not know how to use and what to do. A country suffering from massive job losses will see even more. And after 20 years India will try to be a Blockchain economy when all the opportunity will pass. Indians will remain slaves to the ambanis and adanis.
Give the common man education and healthcare, give the common man freedom to live, to decide, to win, to lose, to learn, rather than throwing tantrums , and spreading the sheer dictate of Control.
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