In retrospect, it is inevitable!

The crypto market is bleeding today but people in the crypto space who are engrossed by the philosophy of Be Your Own Bank are simply not bothered by the market movement.

There may be multiple factors for the sudden slide but the NEWS that caught my attention was, The Indian Government is planning to make a proposal to ban cryptocurrencies in its ongoing budget session.

The bill titled as, ‘The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021’ seeks banning of ‘private cryptocurrencies’ and introduction of a CBDC by the Reserve Bank of India. Though in its remarks on bill, The Government of India mentioned it would allow certain exceptions to promote the underlying technology of cryptocurrency and its uses.

I don’t understand what restricted the Government from mentioning the term ‘Blockchain’, let alone ‘Public Blockchain’. I don’t understand what the Government of India wanted to mean by ‘Private Cryptocurrencies’? Do you know on what circumstances a decentralized system can be called ‘private’? The answer is, only when a handful of people don’t have a control over a system that runs on consensus mechanism and let the people get the true taste of a democratic financial system.

As I see a lot of Indian people here in read.cash and noise.cash I thought to write my first piece (I don’t consider myself to be a good writer, yet couldn’t restrict to express) here for them and I truly want them to be spread awareness among their peers about the philosophy of cryptocurrency instead of looking at it as a money making tool.

I landed on the cryptoverse somewhere around 2015 and with some skepticism I invested a few dollars in Bitcoin and was happy to see the price of it in respect to USD after a year. But, by that time I understood that it doesn’t matter what the price is in terms of USD, 1 BTC will always be 1 BTC.

The historical event occurred in the mid of 2017 and I had equal amount of both BTC and BCH for a few months and I sacrificed all my BTC for the greater good, now I had double the amount of BCH, the only MONEY with the potential to replace Fiat.

Anyways, while reading some articles about the proposed banning of crypto in India I found a funny comment which said, ‘the transactions of a cryptocurrency gets deleted and it cannot be traced.’ Another commented, ‘crypto is a scam’. While we all know how much untrue these comments are we have to deal with these and our positivity will win.

At last what I want to say is, don’t panic and sell your assets. You might feel a sense of loss while comparing the prices of your holdings with fiat, just change the perspective to see 1 BCH = 1 BCH period!

We need more people to join and be vocal about taking back our financial freedom from the handful of central agencies and for that we need to be a HODLER, because people might not just come to support the philosophy. But if they see a chance to get perks from trading they will come and will slowly understand and absorb the what and whys of cryptocurrencies.

The future is in our hand so, just HODL!