“You can’t stop things like Bitcoin. It will be everywhere and the world will have to readjust. World governments will have to readjust” – John McAfee, Founder of McAfee
There's a hype all over India right now about the FUD brewed up by media regarding the RBI statement on Bitcoin.
Immediately after the news was out, a lot of Indians started panic selling for no apparent reason, just by fearing the government and the RBI.
But, in an official statement, RBI has warned users, holders and traders of bitcoin or any other virtual currency, “about the potential financial, legal, and security risks arising from their use.”
Of course most of the Experienced traders, and crypto enthusiasts didn't sell in panic, and they instead bought more during the dip, maybe for the hard fork, but that's a different story.
To all the people who sold BTC in Panic, I would like to tell you something:
Learn to analyse the world around you instead of being spoon-fed by the government and media about what to do with your money.
First of all think what will happen if bitcoin or any other cryptocurrencies become mainstream and gets accepted as a payment method all over the world.
You already know what's going to happen…. There will be no central banks…. They will lose out their business. They wont be able to dilute the market with 'fiat money' and drive inflation through the roof.
Central banks would be killed, in other ways. Now obviously the government will not want that, they do know the potential of Cryptocurrency to wipe out the entire central banks….
Jamie Dimon as well got scared like hell when he discovered about the potential of Bitcoin and called it a Scam without justifying with any reasons.
And governments are coming up with lame excuses like 'evading taxes', 'terrorist funding', 'illegal offline transactions' and all.
You know what? A person who is into fraud will find other ways. Let me show you another example, A person holding bitcoins can instead hold gold and carry out the same level of fraud….
Analyse why I am telling that. A person can even steal gold and carry out fraudulent activities. Thats just an example, you don't know what level of corruption the world has gone into.
So the government is finding flaws only instead of good uses and trying to simplify their own things, and take matters in their own hands. They dont want people to have control over their money. Who knows maybe they are as well holding several bitcoins! No one questions the government. We were born to trust governments like God…
I am not for or against any government, but I would like that you analyse the world first before you spread panic and FUD.
The problem with us nowadays is that, we never analyse anything. We simply switch on the news, digest the content blindly and ask questions to people, who again might have digested the same content and give back the same answers you have expected,, magnifying the FUD by several times.
Cryptocurrencies like Bitcoin are the future of digital store of value.
Do check out their whitepaper, from bitcoin.org and have a look at one of my articles to understand how the central banks work. If you dont believe it, ask in various forums and some high level employees in any central bank from a finance background who will be able to solve the doubt…. You will never believe in any central banks after going through this post…
Have a look below….
https://www.finallyjobless.com/where-does-your-money-come-from/
And remember one thing, if they ban Bitcoin, illegal transactions will increase many times more than the govt thinks….
Try to find out why… you wont panic sell Bitcoins ever…. And will know why even after being killed so many times by the government, they legalise it again, and Bitcoin comes back stronger every time…..