Bitcoin banned in India? Thoughts

Ever since the media began to crush crypto. I cashed out completely and have not returned unless I have had to obtain a little to pay for a job where the receiver did not have Paypal.

If the title is true as many websites over the past few days have been claiming, then I have to ask questions directed at two categories of people.

1) For Indian's, how will this effect your businesses. If at all?

2) For the crypto bubble guys. After all this rejection of the technology and crypto as a whole by what unfortunately is in fact the real world powers of media, politics, and banks, why are you so adamant that BTC will overcome these obstacles. For any other form of 'investment' after such constraints it would be very unwise to not cash out.

Are you,

A) Hoping for the best?

B) Have strong beliefs that somehow crypto will dominate, even though the power of media and the world banks suppress it for the most part?

C) Just joining the bubble to quick flip it and make money off of people who are just getting in to crypto?



Interested to know your thoughts. Please try not to get too heated about this if another member's beliefs conflict your own. I know some of the super pro-crypto guys get as heated as feminists at a protest rally sometimes...

Just for the record. I was pro-BTC until a few months ago. I even dabbled after the banks rejected it as that was expected. But as I have been involved in the media in the past, I respect its power and since that has been doing its best to suppress crypto, I've cashed out as its an opponent the "ordinary people" cannot win against.

 

[4usq]

India didn't ban bitcoin it just severed ties with it. Which is completely reasonable because at the end of the day while bitcoin isn't really that new it only recently got adopted on a large scale, therefore, there's an appropriate level of volatility. This is most likely a short-term play because if India's financial system topples over in the volatility, it will set them so far back

Personally, I can't see bitcoin being a bubble in any way as it represents security and privacy. These are traits that are invaluable. Yes, at the end of the day, banks are trying to block and ban it but it will pull through. This is because that every social media leak and North Korea threat, asks people how safe their money is. This is only going to occur more with larger and more frequent leaks of information. While this happens, there will be huge breakthroughs in crypto absorbing all banking activities, from consulting to trading until they have to adopt bitcoin.

N.B. I don't see anything in crypto in the short run.