In the last 24 hours since the latest round of FUD from Indian news media outlet Bloomberg Quint which has spiralled out of control with news media all over reporting about it. Even though it lacks credibility and offers zero evidence. My post on that is here.
Even if we were to believe the ban is for real, and we decide to panic sell and exit now it's our own undoing. I'm writing this post because i'm quite frankly exhausted from responding to queries from people about the impending ban in the last 24 hours.
Everyone has their own theories and no one wants to wait for such a policy draft to be made public. Not a single so called expert on Twitter or YouTube have the slightest idea about the actual regulations in the upcoming draft on blockchain and cryptocurrency.
Most of these people including the journos from India have become overnight experts on the matter only since after the bull run of 2017.
Half of them probably don't hold a single crypto or have any real skin in the game. They will speculate on the death of crypto in India till cows come home.
If you base your investing decisions on rumours, fake news, clickbait articles and all kinds of random nonsense that's out there on the web for your consumption then you are destined to fail and if you do end up failing then you certainly deserve it.
It's harsh and that's the truth!
If you are going to chicken out over some random news and are not ready to voice your concerns to the government through appropriate channels then you probably should exit right away and not wait for some imaginary ban to come into effect.
If the government of India wants to stop it's citizens from legitimately earning a living from the crypto space or speculate to create and grow their wealth, then it's our duty as citizens to fight the government and force them to reconsider.
If you are not willing to do anything and accept whatever is thrown at you, then you might as well suck it up and accept whatever happens.
I'm against these restrictive policies of the government and have been voicing my opinion on the same throughout all this time.
I strongly suggest everyone to inform your friends or family not to panic and spread fake news. Until we hear from the government about a ban and what steps they intend to take to enforce such a ban etc we shouldn't worry too much.
We must raise our voices when the time comes and stand up against any nonsense policies of the government and make sure it remains inclusive of the developments taking place in the FinTech space. We shouldn't roll over and allow our government to pass bills that take our right to earn a living.
If you want to make some real money in crypto then be prepared to do this.
Else, just leave now as the crypto space is not for you!
If you like my work kindly resteem it to your friends. You may also continue reading my recent posts which might interest you:
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