India The Worlds Largest Democracy proposes cryptocurrency ban, fining anyone trading in the country or even hoarding the crypto-derived digital assets – March 14, 2021,

First and foremost, let’s be clear, that as of today’s date, this is only a proposal, it’s not guaranteed to become law, but if you’re invested in Bitcoin or any other crypto-digital-Asset you had to have seen this coming. Now, the real problem f this becomes law in India, is not the fact that Governments can’t do anything about the Bitcoin and other decentralized currencies, it’s that they’re going to make the entire process of Bitcoin become MORE EXPENSIVE!

I’ll be perfectly honest with you, I love the blockchain technology, I love it a lot I’ve watched several presentations on blockchain and I love it, what I don’t like and I’m just being honest here is the mining process of crypto-currencies namely Bitcoin, I also don’t like the digital Wallets, I’m old school, I’ll just say it I hate the bitcoin Wallet system, nobody talks or writes about it, I will, I hate the digital wallet and one of the reasons is based on how the Indian proposal is planning to enforce their Bitcoin banning law.

You can track and trace transactions and there comes a time in most people’s lives that realize that they don’t want to give the government or any entity the ability to track and trace everything they do. Now, blockchain technology on the other hand as it relates to trademarks, patents, and contracts, could wipe out a lot of litigation as well as help to protect property rights.

What I worry about most is that cryptocurrencies might demonize the blockchain, that’s what bothers me. Because as we all know, Nuclear energy is the cleanest and best energy on the planet, and nuclear power plants don’t even have to be as large as they are now, but you see via the government and the media, the narrative is that ‘nuclear energy is the devil’.

I don’t want blockchain technology to be the next nuclear energy, because the truth of the matter is that environmental-socialists don’t have a leg to stand on, but the media is the message and that’s most people perceive the world via the mainstream media.

So, in India, demonizing crypto-currencies is easy, I’ve done charity work in third world countries and rolling blackouts are normal there and the mining process for crypto-currencies is energy-intensive, that’s a no-brainer for governments, wanting to centralize everything. Bitcoin is pollution let’s ban Bitcoin, governments can use anything to ban Bitcoin, it’s low hanging fruit and the higher the price gets and the more all of these rich institutions pile in, the easier it’s going to be to demonize it.

One of the reasons I don’t care about the price of gold in fiat dollars is that the government will come after it, if the price gets too high. Nixon claimed because of ‘Money speculators’ he was going to delink the value of the U.S dollar from Gold(Republican), FDR(Democrat) did what Leftist do and took the confiscation route, if you hoard Bitcoin this is no brainer, they’ll find a way to screw you, which is why if I have a digital Wallet or I’m a hoarder of something, I don’t want to have to go back into the Matrix to spend it! I’ll spend my winnings in ZION!

Once I buy my gold WITH CASH it’s now somewhere! Huh, What Gold? I don’t own any Gold! WTH are you talking about?

I pay property taxes, I don’t even consider my house my own, I have rights to the land in which I reside, my home is not an asset, it’s a liability!

Being that Bitcoin is reliant on a centralized grid, what do you really own? I’m not telling you to buy, sell or hoard, but keep in mind those of us who are older, have seen this before! Crypto is nice and all, but umm, yeah!

 

 

India to propose cryptocurrency ban, penalising miners, traders: source | reuters.com

 

Interesting times ahead!