look the thing is India wants to be progressive country. Banning bitcoin or crypto currency is just opposite to that. The main thing is that government of India doesnot want people evade taxes. It does not recognize it as a currency because that it is going to be a direct challenge to the INR and might result in loss to banks and subsequent closure. What they want to do is discourage people from buying crypto. They want to kill its main purpose of currency. If after removing this main purpose, Indians find value in this crypto assets then yes they can buy it at their own risk.
Yes, we also have a problem with our media. For our media TRP and sensationalism is important. They are old minded people. They like creating panic. For them every new thing is a crime. They are against every anti establishment.
The main problem was that many people who heard about bitcoin here don't know what it is. Some bought it even with out knowledge. They think it is something like real fiat money. They wanted it controlled by government and so on and so forth.
I spoke to a lot of people. I asked them to buy bitcoin. They replied "it is illegal", "it is not recognised by bank", "it is not issued by government", blah and blah and blah.
Some such people were filing PIL's in court and were thinking that buying bitcoin is Anti-National and Anti-state activity. yes, we have such moron for whom every thing they can't understand is anti national activity. I read some political handles yesterday, they projecting things as if bitcoin buyers were conspiring against the nation.
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