Union Budget 2018: The government of India does not consider cyrpto-currencies as legitimate, but it will explore the use of block chain technologies, according to the Finance Minister Arun Jaitely. Government all over the world is showing no mercy to cryptocoins. The Government does not consider cyrpto-currencies as legitimate but will explore the use of blockchain technologies, said Finance Minister Arun Jaitley during his Union Budget 2018. "All crypto currencies, which include bitcoins, are illegal and the government will take all measures to eliminate their use" - Arun Jaitely This statement had a huge impact on Indian crypto market which has a 11% share in World Crypto market. Bitcoin which was trading before the Budget at $10,983 in India is now trading at $9,100 on Indian exchange Zebpay. But i don't think it will put an end to crypto coins in India. The government will come up with some regulations to tackle illegal transactions and tax evasi...
Hello people out there. So there's an another crypto break down. Its quite obvious to doubt if crypto will survive in future.So lets talk about facts. This break down was a result of regulations announced by korea. Also one of the exchanges Coincheck was hacked. Let me answer your questions quickly Will BITCOIN DIE? Here below is the 3 months chart of Bitcoin. It clearly shows Bitcoin is on downward trend. Bitcoin is of course the King but its aged. When technology ages it dies. Something new replaces it. The main purpose for which Bitcoin was introduced to do transactions anonymously is not possible with regulations coming in. While other currencies offers faster and cheaper transactions Bitcoin lacks that too. US regulations are yet to come which will further result in decline of BTC. So do you find any reason to use BTC? Some may argue that its rare like Gold. But Gold is tangible but bitcoin is not. You cant showoff Bitcoins. So there is no use for an aged coin now. It cer...