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Nairaland Forum / Nairaland / General / Business / India Bans Cryptocurrencies, Gives Investors 6 Months To Liquidate Their Assets (43764 Views)
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Re: India Bans Cryptocurrencies, Gives Investors 6 Months To Liquidate Their Assets by razzydoo(m): 1:46pm On Feb 13, 2021 |
Birds of archaic feathers roll alike! 3 Likes |
Re: India Bans Cryptocurrencies, Gives Investors 6 Months To Liquidate Their Assets by Nobody: 1:49pm On Feb 13, 2021 |
Best Prices anyone ![]() |
Re: India Bans Cryptocurrencies, Gives Investors 6 Months To Liquidate Their Assets by Nobody: 1:50pm On Feb 13, 2021 |
Freestainworld: It is a funnel for corrupt and illicit practices. In a country like Nigeria, It's an add-on for the already corrupt Nation. Looting will go X10. Untraceable loots 1 Like |
Re: India Bans Cryptocurrencies, Gives Investors 6 Months To Liquidate Their Assets by afroxyz: 1:52pm On Feb 13, 2021 |
ichidodo: I get point. First, the US would continue having deficit because their cash is not backed by gold. All they need to do is raise the debt ceiling and keep printing. Secondly, the stock market has always been divorced (or ahead) from the real economy. Thats why deapite the exonomic receaaion in the pandemic, the market was doing well. Also Wall Street has even be more reluctant than main street in accepting cryptos. Retailers (main street) see this as a way at getting back at institutionalized finance and xontrolling their finance. Finally, ezpecting central banks to warm up to cryto is like expecting a lagos cab driver to like uber or cinema operator to like netflix. These new innovations threaten their very existence. So why should u accept the opinion of central bankers when they are inherently biased in the first place? JP Morgan warned its investment mangers not to discuss cryptos with clients in 2016 1 Like |
Re: India Bans Cryptocurrencies, Gives Investors 6 Months To Liquidate Their Assets by doxijaw: 1:53pm On Feb 13, 2021 |
Meanwhile bitcoin pumpers are telling Nigerians to make bitcoin the federal reserve ![]() Most of them are educated blowing big grammar on twitter ![]() 1 Like |
Re: India Bans Cryptocurrencies, Gives Investors 6 Months To Liquidate Their Assets by Nobody: 1:53pm On Feb 13, 2021 |
martineverest:True. |
Re: India Bans Cryptocurrencies, Gives Investors 6 Months To Liquidate Their Assets by Nobody: 1:54pm On Feb 13, 2021 |
Kobicove:yep! Just hypes. Not a legal tender also, Elon Musk wants to dump his no value crypto waste on people. |
Re: India Bans Cryptocurrencies, Gives Investors 6 Months To Liquidate Their Assets by ichidodo: 1:59pm On Feb 13, 2021 |
afroxyz:Bitcoin or cryptocurrency is an innovation alright but a dangerous innovation that can bring down Economies and Governments because it goes against the soul and spirit of what money as a medium of exchange is all about, besides tis not all innovations you accept especially when you're managing a country like India with billion of lives at stake, you shouldn't take such risk... Affiliate Marketing is a good innovation and so is Ponzi Scheme??.. 1 Like |
Re: India Bans Cryptocurrencies, Gives Investors 6 Months To Liquidate Their Assets by Basher8583: 2:00pm On Feb 13, 2021 |
Springboot: Please don't mind that illiterate. If you ask him now he probably doesn't know what crypto currency really is. Just following the herd mentality |
Re: India Bans Cryptocurrencies, Gives Investors 6 Months To Liquidate Their Assets by afroxyz: 2:01pm On Feb 13, 2021 |
Kobicove: Since when did CBN start bothering about manipulation. Fraudluent organkzations like MBA Forex and the likes were there, they did not ban them. If you are talking about manipulation, go to the stock market. Do you know the amount of trading bases on inside information that goes on in the NSE? The only reasin why central banks are banning it is because they want a piece of the action. They are still trying to figure a way to regulate it. |
Re: India Bans Cryptocurrencies, Gives Investors 6 Months To Liquidate Their Assets by htdot: 2:07pm On Feb 13, 2021 |
JohnBullMySon:There is difference between development and being poor. India is far far above Nigeria interim of riches.... |
Re: India Bans Cryptocurrencies, Gives Investors 6 Months To Liquidate Their Assets by afroxyz: 2:08pm On Feb 13, 2021 |
ichidodo: Economies and governments are social institutions. They would always evolve to meet the present needs of society. There was once a monarchical and feudal class. We were once trading with barter system. Im sure when paper money and capitalism was introduced they were severly opposed. But here we are. Another change is brewing on the horizon, do you want to be on the wrong side of history? The market decides what is valuable and how to allocate resources to that value. The present market is calling for a decntarlized financial system. The only reason why central banks are banning is because it strips them of their authority, plus they have not figured out how to regulate and profit from crypto transactions. 1 Like |
Re: India Bans Cryptocurrencies, Gives Investors 6 Months To Liquidate Their Assets by leokid866: 2:08pm On Feb 13, 2021 |
afroxyz:yes people are taking bitcoin as payment but worldwide what percentage of goods and services are been traded with bitcoin? do you think it's up to 1%? regions with cleaner energy.....lol.....what I know of is one guy in Canada that built his grid over a guiser and using the heat to generate electricity......and it still cost over $20k monthly to maintain it.....the thing generates so much heat he has to power it down for hours just to do maintenance work.....however you want to run it, you can't escape the power costs.....and if anyone has been collecting money from you to mine bitcoin just know now they have been running you street. 1 Like |
Re: India Bans Cryptocurrencies, Gives Investors 6 Months To Liquidate Their Assets by htdot: 2:09pm On Feb 13, 2021 |
JohnBullMySon:Lol.... How do you rate a poor country.... India economy is bigger than all west Africa economy put together. How much does Nigeria made every year from export? |
Re: India Bans Cryptocurrencies, Gives Investors 6 Months To Liquidate Their Assets by htdot: 2:11pm On Feb 13, 2021 |
JohnBullMySon:If you have the fact, bring it on
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Re: India Bans Cryptocurrencies, Gives Investors 6 Months To Liquidate Their Assets by afroxyz: 2:12pm On Feb 13, 2021 |
leokid866: It costs about $8k to mine one BTC. Thats why suppky would be reduces hence incrasing the unit price. Hiw long did it take the world to change from gold and barter to paper money? This things happen in stages. Less than 1%, but the numbers are racking up. |
Re: India Bans Cryptocurrencies, Gives Investors 6 Months To Liquidate Their Assets by Spinshark(m): 2:13pm On Feb 13, 2021 |
More like burn the farm down and tell you the snake escaped. |
Re: India Bans Cryptocurrencies, Gives Investors 6 Months To Liquidate Their Assets by Spinshark(m): 2:14pm On Feb 13, 2021 |
Brendaniel:More like burn the farm down and tell you that the snake escaped 1 Like |
Re: India Bans Cryptocurrencies, Gives Investors 6 Months To Liquidate Their Assets by kennyamusan(m): 2:22pm On Feb 13, 2021 |
crypto would make banks useless as their will be no need for Middle men like them again hence no exorbitant charges 2 Likes |
Re: India Bans Cryptocurrencies, Gives Investors 6 Months To Liquidate Their Assets by olyrayy(m): 2:25pm On Feb 13, 2021 |
rodeo0070: This is fake news na. Where did they say they banned it? They're proposing to. They can't until they pass it through the legislature. |
Re: India Bans Cryptocurrencies, Gives Investors 6 Months To Liquidate Their Assets by TheGift: 2:25pm On Feb 13, 2021 |
So the photoshopper of this image did not have the decency or patience to photoshop the animal's body from that of a sheep to that of a dog- as s/he did the face ![]() Kennyking1234: 1 Like |
Re: India Bans Cryptocurrencies, Gives Investors 6 Months To Liquidate Their Assets by Bamz(m): 2:26pm On Feb 13, 2021 |
truthfulparrot: I'm a millennial and if you're one too, please try and educate yourself and not sound like our senators. 1 Like |
Re: India Bans Cryptocurrencies, Gives Investors 6 Months To Liquidate Their Assets by chelseamann(m): 2:31pm On Feb 13, 2021 |
SatantheDestroy:just sit down and observe if you don't have anything better to say 1 Like |
Re: India Bans Cryptocurrencies, Gives Investors 6 Months To Liquidate Their Assets by Kennyking1234: 2:33pm On Feb 13, 2021 |
TheGift:Its a meme doesn't have to be perfect. A joke 1 Like |
Re: India Bans Cryptocurrencies, Gives Investors 6 Months To Liquidate Their Assets by decision01: 2:34pm On Feb 13, 2021 |
Brendaniel:� |
Re: India Bans Cryptocurrencies, Gives Investors 6 Months To Liquidate Their Assets by hermesprogidy(m): 2:38pm On Feb 13, 2021 |
Fake news. The Reserve Bank of India is considering the adoption of CBDCs utilizing the XRP ledger. Fakest news. 1 Like |
Re: India Bans Cryptocurrencies, Gives Investors 6 Months To Liquidate Their Assets by leokid866: 2:39pm On Feb 13, 2021 |
afroxyz:lol the world moved from gold because there was not enough gold to substantiate the growth of the economy.....even today more gold is traded than there is actual mined gold.....the US and other countries would have been bankrupt a long time ago if they kept their currency pinned to gold.....part of the things holding up bitcoin today is that its limited, which makes it easy to speculate it's price......which is why people have been patronizing other crypto that are not as strong......but what happens when the demand grows too strong for the supply?.......look go do what you want with your money......just don't come online to cry that noone warned you when things turn sour 1 Like |
Re: India Bans Cryptocurrencies, Gives Investors 6 Months To Liquidate Their Assets by sniperr007(m): 2:40pm On Feb 13, 2021 |
Freestainworld: Explain better |
Re: India Bans Cryptocurrencies, Gives Investors 6 Months To Liquidate Their Assets by ichidodo: 2:40pm On Feb 13, 2021 |
afroxyz:In the olden days it was Gold,Silver or other metal because you could use them intrinsically (to make jewelry, tools or weapons)without trading...whole empires arose even wars fought just for their control,regulation and accumulation,after which, you had commodities eg Salt, Cowries,Whale teeth,Slaves etc because they were very useful by themselves without any packaging and highly sought after...Now we have Fiat money backed by Governments who control vast resources of human capital and commodities...That is what money is all about...But Bitcoin or cryptocurrency is against the spirit of what has been the tradition of trading and economics for thousands of years...I believe cryptocurrency is anti-money, Maybe in the days of 3150 when technology allows us to explore distant galaxies making use of anti-energy,anti-matter etc then there will be no such thing as money..but Anti-money.. .. 2 Likes |
Re: India Bans Cryptocurrencies, Gives Investors 6 Months To Liquidate Their Assets by adesile8697: 2:44pm On Feb 13, 2021 |
I am buying all the major coins as much as you have. DM for business. |
Re: India Bans Cryptocurrencies, Gives Investors 6 Months To Liquidate Their Assets by hermesprogidy(m): 2:48pm On Feb 13, 2021 |
afroxyz:Don't mind that moronic Trump supporter. Let him tell us which western country banned cryptocurrency. They will quickly site Canada. Which is a big lie and China who have the world's largest reserve of Bitcoin and Ethereum. |
Re: India Bans Cryptocurrencies, Gives Investors 6 Months To Liquidate Their Assets by Lovelyperson(m): 2:49pm On Feb 13, 2021 |
mike8804:Not only bitcoin but all cryptocurrency |
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