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RE: India Ban on Crypto Currencies at Budget 2018, Is it for Real? My Views with Facts

in #cryptocurrency7 years ago

I think as Bitcoin generates more interest, we'll continue to see a lot of these so-called "bans". Essentially I think governments are worried about these financial devices being used to hide assets and avoid taxation internationally.

Since governments essentially "missed the boat" regarding the creation of the derivatives market so many years ago, they are trying to be more cautious regarding Bitcoin and their ilk. However, in doing so, governments appear to be coming on a bit too strong, almost disrupting the market with their heavy-handed tactics.

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@beachsloth And since they know it's not possible to completely ban this. They are now trying to FUD fear.

I hope that they are unsuccessful. So far, the fact that bitcoin hit that support level of 8K and rallied back, I think that Bitcoin has quite a journey ahead of it.