"Cryptocurrency does not have any underlying value" - Reserve Bank of India (RBI) Governor, Shaktikanta Das
Image by Maicon Fonseca Zanco from Pixabay
It is appalling to see how less our elected politicians know about cryptocurrency. Of course, bank officials and government officials would want to control every aspect of your life and Cryptocurrency is a great way to escape the clutches of the traditional financial system where you have no control over your holding. The state controls everything is not an understatement.
You will say, what if I invest in Real estate?
Sure, go ahead. It is a good hedge against inflation but are you really in control of that? A simple policy change from one of your own elected officials can ruin that investment completely or worse what if you are in China? Do you really own the land?
Or place yourself in the shoes of War refugees? Can you take your belonging with you? No, but what if you had most of your wealth in Bitcoins? Sure, the value is down now from its all-time high but you have full authority over your asset. No matter whatever external or internal threats a country is facing you will still have your wealth protected.
Of course, everything is not that black and white. I am oversimplifying for the sake of arguments here. But I always believe in the power of decentralised community and transparency. Sure, the anonymity and ease of transaction, speed etc are a big plus as well.
Then coming back to the same question, why the government wants to ban crypto in India?
Maybe it is time for people to set their priorities and make them very clear to people contesting in elections. Make sure they understand what crypto is and why this is the future of finance.
I will choose my crypto wallet over my bank accounts any day.
My HBD savings
I started to save HBD as well. 20% APR is no joke. I have a few HBD and my goal for this year will be to get to 600 HBD.
I found Hive relatively late than most of us here but I feel we are still very early in this and I am grateful to have discovered this hidden gem. Even a comment can earn you crypto, who would have believed...lol.
Thanks for reading...
Until next time...
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