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No it's not huge Indians will keep their crypto, and wait for either 1) the supreme court to strike down this law 2) a new government to repeal this law. The

by 1996 6y ago

No it's not huge Indians will keep their crypto, and wait for either 1) the supreme court to strike down this law 2) a new government to repeal this law. The cat is out the bag. Politicians in every country like money. They will try to appeal to the populace by pretending to fight crypto ("it's bad for the environment!") while knowing its advantages and trying to keep them for themselves

xwolfi 6y ago
Yeah, I can picture the dude trying to make the national grid something else than a bitcoin input stream... Crypto isnt bad for the environment, it s more terrible for energy efficiency. I d rather spend what miners spend on an entire justice / police / law system to ensure contracts are trusted and enforced. The one thing that is sure here is that when people try to collect on their newfoubd wealth, there might be some price pressure making everyone poor again.
- fredfoobar 6y ago
  How can you convert excess electricity from a hydroelectric power station (which the downstream grid can't handle) into energy for justic/police/law systems? I'm curious.
  - geswit2x 6y ago
    >”excess electricity from a hydroelectric power station” Amazing, the excess is the same size as consumption in Sweden. https://cbeci.org/cbeci/comparisons https://cbeci.org/cbeci/comparisons
    - fredfoobar 6y ago
      power generation is a local phenomena, there are many such stranded/renewable sources of energy. I recommend reading this article: https://www.coindesk.com/frustrating-maddening-all-consuming-bitcoin-energy-debate https://www.coindesk.com/frustrating-maddening-all-consuming...
bitexploder 6y ago
And to try and control their monetary policy. They mostly fear what can happen to their central banks of crypto takes off and they don’t have a “handle” in it.
systemvoltage 6y ago
Sure it won't change for individuals but if you're a business and want to accept Bitcoin, it will be flat out illegal.
- 1996 6y ago
  Many businesses are moving to digital only. A digital-only business accepting only crypto will avoid taxes AND have it hold appreciate. Personally, I'm waiting for an crypto-based onlyfan: it's the perfect niche: performers will decide if they want to convert to fiat, or keep their hold for purchases the government may dislike (like drugs: dead drop are an ideal use of crypto) or cashing it abroad like in lavish amenities that cater to a lucky few and only take crypto (yes, they already exist, and I can only predict them becoming more accessible) There is a parallel economy emerging. You can deny it, but it's happening.

by 1996 6y ago

xwolfi 6y ago

Yeah, I can picture the dude trying to make the national grid something else than a bitcoin input stream... Crypto isnt bad for the environment, it s more terrible for energy efficiency. I d rather spend what miners spend on an entire justice / police / law system to ensure contracts are trusted and enforced. The one thing that is sure here is that when people try to collect on their newfoubd wealth, there might be some price pressure making everyone poor again.

fredfoobar 6y ago
How can you convert excess electricity from a hydroelectric power station (which the downstream grid can't handle) into energy for justic/police/law systems? I'm curious.
- geswit2x 6y ago
  >”excess electricity from a hydroelectric power station” Amazing, the excess is the same size as consumption in Sweden. https://cbeci.org/cbeci/comparisons https://cbeci.org/cbeci/comparisons
  - fredfoobar 6y ago
    power generation is a local phenomena, there are many such stranded/renewable sources of energy. I recommend reading this article: https://www.coindesk.com/frustrating-maddening-all-consuming-bitcoin-energy-debate https://www.coindesk.com/frustrating-maddening-all-consuming...

bitexploder 6y ago

And to try and control their monetary policy. They mostly fear what can happen to their central banks of crypto takes off and they don’t have a “handle” in it.

systemvoltage 6y ago

Sure it won't change for individuals but if you're a business and want to accept Bitcoin, it will be flat out illegal.

1996 6y ago
Many businesses are moving to digital only. A digital-only business accepting only crypto will avoid taxes AND have it hold appreciate. Personally, I'm waiting for an crypto-based onlyfan: it's the perfect niche: performers will decide if they want to convert to fiat, or keep their hold for purchases the government may dislike (like drugs: dead drop are an ideal use of crypto) or cashing it abroad like in lavish amenities that cater to a lucky few and only take crypto (yes, they already exist, and I can only predict them becoming more accessible) There is a parallel economy emerging. You can deny it, but it's happening.