India, the second-most populous country and democracy in the world with a population of 1,348,340,000 people, source only 5 million people short of that of China's population, is seeing her government considering introducing an outright ban on cryptocurrency that would see up-to a 10-year jail term dashed out to anyone involved in any form of cryptocurrency transactions from trading, mining to even holding it. source However, the Reserve Bank of India has denies involvement in the draft bill to ban cryptocurrency in India. source
There remain a high probability that this will negatively affect the prices of cryptocurrencies in the interim and take the South-East Asia crypto-community aback giving that one in every 10 bitcoin transactions in the world happens in India. source Also, this development will continue to push decentralized cryptos underground (further discouraging mass adoption) as various government brings their regulated cryptocurrencies into main stream.
I sure love to hear what you think about the future of cryptos if government world over begin to issues their own regulated cryptocurrencies while banning countries list decentralized ones.
Best regards
Toni
Regards, appreciated @straighttalk.
Initially, I was very surprised by the title of your post, since I have many friends from India and in their publications I have been able to confirm the great advances in mass adoption that are being developed in that country. Then a ban on cryptocurrencies seems unheard of.
The fact that the Indian administration is considering issuing its own cryptocurrency seems to me a positive aspect, but if this is preceded by a ban on the rest of the crypts, then the failure would be announced.
In the world of blockchain and cryptocurrencies, users seek financial freedom. And they have achieved it. Precisely for this reason we see the great success of BTC and all other cryptocurrencies, cryptoactive, altcoins, stablecoins, etc ...
To pretend to regulate crypto, is nonsense.
All best, Piotr.
For one sure thing though, Government issued cryptocurrencies will introduce more transparency in public finance.
Thanks for stopping by!
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STOPThanks!
Dear @straighttalk
I just visited your account to see if you published anything new only to realize that you seem to give up on Steemit? :(
Hope you're not done with this platform yet.
Yours,
Piotr
Hahaha... Nah, I am still here!
Dear @straighttalk
I didn't hear from you in a very long time. I really hope you're fine and just got bored with Steemit.
If you would ever decide to come back and would post anything, then please send me link via memo and I will gladly check it out.
Take care of yourself,
Piotr
Hi @straighttalk
I hope you won't mind this post (it's not really related in any way to your current publication).
I've been just wondering if you joined PALnet airdrop (PALnet is a token build on Steem-engine).
If you didn't claim it then perhaps I could ask you for small favour. Would you consider claiming your tokens and selling or delegating it to me for few months? I would obviously pay you some STEEM for those tokens (I can even pay for delegation - I want to invest some time and money into that platform).
How to claim your token?
a) login in http://palnet.io/ (it's build on STEEM blockchain, so you will use same login details)
b) login in steem-engine.com
c) claim your tokens -> to do that you need to open steem-engine.com and go to "wallet". In left-top corner you will have PALnet (blue colour) logo. Click on it and claim your PAL tokens.
d) go to your palnet wallet and either transfer your PAL tokens to crypto.piotr or STAKE it and delegate to me (click STAKE and then "advanced" and simply type in my username).
Amount of received tokens depend mostly on your current level of SP (I'm not sure if delegations are being taken into consideration as well).
So based on my current experience, if you have 200 STEEM POWER then you should be able to receive something around 100-150 PALnet tokens.
I would pay you 10 STEEM for purchasing each 100 of those PAL tokens. So basically you can earn something and help me grow on this particular platform, making both of us happy :) Plus you would sell/delegate those tokens without bringing down their current price (you won't need to dump them on exchange).
You would earn some extra STEEM and I would have higher STAKE in this platform.
I've only 500 STEEM I can spent on that purpose (plus airdrop will not last forwer) so HURRY UP :) :)
Cheers,
Piotr
No probs... @crypto.piotr,
I will delegate those tokens.
Done!
Is PALNet own by Steemit?
Thank you @straighttalk
Appreciate it a lot :)
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