Poll: Is it right to ban crypto?
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Hot Deal New Bill To Ban (edit: not All) Private Cryptocurrencies Except Official Digital Currency By RBI

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The Bill also seeks to prohibit all private cryptocurrencies in India, however, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses.
Lok Sabha Bulletin
Source: https://www.bloombergquint.com/amp/econom...na
Guys what are your thoughts?

63 Comments  |  
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b4tm4n wrote:

some e commerce regulations are still pending. Don’t know why they are delaying it.
they wanted to fix discount rates on online products/services.
because many small businesses got affected.
there were some serious strikes by unions for banning az/fk.
uber ki dukaan to mostly amazon ki offers se chal rahi h..bezos india me paisa fek raha hai tab tak maje lelo..
sab online ho raha logon ke convenience ke liye.
but big techs are using deep discount/cb as a weapon to encash the market.
aisa na ho sab power inke pass chali jaaye aur local unions/business ki koi value na rahe.
amazon abhi loss making company hai india me, kabhi to bezos fadye ki sochega.
Aap chahte ho poori e commerce ki control az/fk pass chali jaaye?
tab local walon ki yaad aaegi dekhna.
Ab aisa na ho isliye govt kuch to jarur karegi..chahe wo kisi bhi party ki ho.. stuck_out_tongue_winking_eye
Personally, I welcome such restrictions in e commerce issued by govt grinning

Encash nai corner. They wanna corner the market 💉💉💉

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bikidas2060 wrote:

Encash nai corner. They wanna corner the market 💉💉💉

ye 💉 kis liye, injection ? laughing

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b4tm4n wrote:

ye 💉 kis liye, injection ? laughing

Ji Ji, nashe wali injection laughing

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Nothing new or unexpected, Indian economy is still only half liberalized & as such very little chance of allowing a fully decentralized currency like crypto coin which central bank cannot control(hence the term “except official digital currency by rbi”).

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b4tm4n wrote:

some e commerce regulations are still pending. Don’t know why they are delaying it.
they wanted to fix discount rates on online products/services.
because many small businesses got affected.
there were some serious strikes by unions for banning az/fk.
uber ki dukaan to mostly amazon ki offers se chal rahi h..bezos india me paisa fek raha hai tab tak maje lelo..
sab online ho raha logon ke convenience ke liye.
but big techs are using deep discount/cb as a weapon to encash corner the market.
aisa na ho sab power inke pass chali jaaye aur local unions/business ki koi value na rahe.
amazon abhi loss making company hai india me, kabhi to bezos fayde ki sochega.
Aap chahte ho poori e commerce ki control az/fk pass chali jaaye?
tab local walon ki yaad aaegi dekhna.
Ab aisa na ho isliye govt kuch to jarur karegi..chahe wo kisi bhi party ki ho.. stuck_out_tongue_winking_eye
Personally, I welcome such restrictions in e commerce issued by govt grinning

Instead of “helping small business by restricting fk/amazon” govt should spend effort on bringing all such small businesses to fk/amazon platform but that would be “too economically progressive” for any major political party in India hence all this drama because in India it seems good economics means bad politics.
@bikidas2060

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Digital currency or more specifically crypto was invented to be a global medium for exchange without any govt intervention. This is probably scaring every govt in the world that there is a currency which is not regulated and has widespread usage which can potentially render official country bills useless in future. This, if anything, is a sad attempt to neutralize that threat.

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guest_999 wrote:

Instead of “helping small business by restricting fk/amazon” govt should spend effort on bringing all such small businesses to fk/amazon platform but that would be “too economically progressive” for any major political party in India hence all this drama because in India it seems good economics means bad politics.
@bikidas2060

Neta ki pocket phulegi bass pensive

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Noob to cryptos, but from whatever I know
Is it possible to track down black money, terror funding, narcos when they happen in crypto currencies?
Except when the currency arrives at an exchange for purchase or sale

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androgame wrote:

Noob to cryptos, but from whatever I know
Is it possible to track down black money, terror funding, narcos when they happen in crypto currencies?
Except when the currency arrives at an exchange for purchase or sale

Nothing online is 100% anonymous, it all depends on how much effort & resources one is willing to spend. In other words, using crypto to do some black money transaction won’t be tracked but using crypto to finance a terror operation targeting white house will certainly be tracked.

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guest_999 wrote:

Instead of “helping small business by restricting fk/amazon” govt should spend effort on bringing all such small businesses to fk/amazon platform but that would be “too economically progressive” for any major political party in India hence all this drama because in India it seems good economics means bad politics.
@bikidas2060

e commerce is estimated to be worth $40-50 bil dollars in india.
its expected to grow 5 times till 2030 which will eventually create more jobs.
az/fk are marketplace, they ideally should work like mediator between buyer/seller.
but they have created in house/affiliated companies and are selling most of products/services.
thats why govt made norm that single seller cannot do more than 25% sales (out of all sales including all sellers) on particular marketplace.
I am not sure how they track these things; I don’t think az/fk follows any such norms.
instead they throw discounts/cb, that brings in house/affiliated sellers in front, and it becomes difficult for small sellers to sell their products.
its responsibility of govt to fix this deep discount issue.
and as you said if govt spend more effort for promoting small sellers, then why amazon/fk will do business here.
itne acche nahi hai az/fk wale. paisa aise hi small sellers ke khate me nahi jaane denge.
govt will do something and az/fk will find some escape so that their in house/affiliated sellers will be always in front.
As far as az/fk influence buyers/dimers to buy products from their own sellers, these small sellers can’t come into the picture.
bezos is mehman till now..but he wants to become permanent ghar jamai.
if you want him to become ghar jamai..start buying only from cloudtail/appario seller which is what most of dimers do here. smiling_imp
also buy only vedaka/solimo, amazonbasics branded products. bezos ki dua milegi.. stuck_out_tongue

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They can ban whatever they want, but crypto is here to stay. no one can do anything about it unless major countries ban it. until think im making lacks from this diamond mine

there are several ways to buy and hold even after it gets banned. tasty money sunglasses

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b4tm4n wrote:

e commerce is estimated to be worth $40-50 bil dollars in india.
its expected to grow 5 times till 2030 which will eventually create more jobs.
az/fk are marketplace, they ideally should work like mediator between buyer/seller.
but they have created in house/affiliated companies and are selling most of products/services.
thats why govt made norm that single seller cannot do more than 25% sales (out of all sales including all sellers) on particular marketplace.
I am not sure how they track these things; I don’t think az/fk follows any such norms.
instead they throw discounts/cb, that brings in house/affiliated sellers in front, and it becomes difficult for small sellers to sell their products.
its responsibility of govt to fix this deep discount issue.
and as you said if govt spend more effort for promoting small sellers, then why amazon/fk will do business here.
itne acche nahi hai az/fk wale. paisa aise hi small sellers ke khate me nahi jaane denge.
govt will do something and az/fk will find some escape so that their in house/affiliated sellers will be always in front.
As far as az/fk influence buyers/dimers to buy products from their own sellers, these small sellers can’t come into the picture.
bezos is mehman till now..but he wants to become permanent ghar jamai.
if you want him to become ghar jamai..start buying only from cloudtail/appario seller which is what most of dimers do here. smiling_imp
also buy only vedaka/solimo, amazonbasics branded products. bezos ki dua milegi.. stuck_out_tongue

Why would one buy a kitchen utensils set from amazon/solimo when he can buy the same one from a local shop also listed on amazon & where he can go before purchase to actually see the product & again go after purchase in case of some issue unless that local shop is selling it at 20-30% premium & why, because he has to pay all the taxes(& bribes) for running the shop?

Always keep in mind that no country got bankrupted because of amazon but there are examples of govts running their country’s economy into the ground(in India itself there are examples of WB, TN, Punjab etc).

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guest_999 wrote:

Why would one buy a kitchen utensils set from amazon/solimo when he can buy the same one from a local shop also listed on amazon & where he can go before purchase to actually see the product & again go after purchase in case of some issue unless that local shop is selling it at 20-30% premium & why, because he has to pay all the taxes(& bribes) for running the shop?

Always keep in mind that no country got bankrupted because of amazon but there are examples of govts running their country’s economy into the ground(in India itself there are examples of WB, TN, Punjab etc).

Are you kidding, there are so many things other than kitchen utensils.
And what about cloudtail/appario/amazon retail? They sell lakhs of different products.
Amazon charges lower fees from these so called affiliated sellers and more from other sellers.
whatever sales are there on az/fk, they incur some cost of few particular sellers for discounts given for sale purpose. Most of the other sellers can’t even compete..this is what those delhi unions are complaining.
Do you remember CAIT called for protest when bezos came to India last year.
Many large group of small sellers unions have already filed anti trust complaint against az/fk including AIOVA.
Since past few months,there is serious case going on against amazon/fk for anti- competitive practises in Karnataka HC.
Surprisingly amazon/fk have said that they don’t offer any deep discounted products and they don’t have any preferred sellers, is this a joke ? confused
yaha dimers ko pucho jara discount kya hota hai.. laughing
I hope amazon/fk get fined for this.

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b4tm4n wrote:

Are you kidding, there are so many things other than kitchen utensils.
And what about cloudtail/appario/amazon retail? They sell lakhs of different products.
Amazon charges lower fees from these so called affiliated sellers and more from other sellers.
whatever sales are there on az/fk, they incur some cost of few particular sellers for discounts given for sale purpose. Most of the other sellers can’t even compete..this is what those delhi unions are complaining.
Do you remember CAIT called for protest when bezos came to India last year.
Many large group of small sellers unions have already filed anti trust complaint against az/fk including AIOVA.
Since past few months,there is serious case going on against amazon/fk for anti- competitive practises in Karnataka HC.
Surprisingly amazon/fk have said that they don’t offer any deep discounted products and they don’t have any preferred sellers, is this a joke ? confused
yaha dimers ko pucho jara discount kya hota hai.. laughing
I hope amazon/fk get fined for this.

I just gave an example, yes cloudtail/appario/amazon sell lakhs of different products but they offer the experience/support/good price to customers in exchange. Tell me which shopkeeper will let you return an electronic equipment costing tens of thousands within 10 days of purchase on grounds like heating/screen discolouration/feature not as advertised etc. Now tell me how much do all these “small seller unions” contribute to govt revenue in the form of taxes & to the society in the form of jobs compared to amazon/flipkart(& their delivery network). If these seller unions are so “oppressed” then why were they unable to win the case against flipkart in CCI earlier & which was later used as the basis for the stay order issued by the Karnataka HC against CCI proceedings against amazon. I hope govt(& I mean every govt, bjp & non-bjp) open its eyes on such fdi related issues before it is too late because in the coming future any country who does not have the economic & tech muscles will simply play the role of a lackey to the countries who do.

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guest_999 wrote:

I just gave an example, yes cloudtail/appario/amazon sell lakhs of different products but they offer the experience/support/good price to customers in exchange. Tell me which shopkeeper will let you return an electronic equipment costing tens of thousands within 10 days of purchase on grounds like heating/screen discolouration/feature not as advertised etc. Now tell me how much do all these “small seller unions” contribute to govt revenue in the form of taxes & to the society in the form of jobs compared to amazon/flipkart(& their delivery network). If these seller unions are so “oppressed” then why were they unable to win the case against flipkart in CCI earlier & which was later used as the basis for the stay order issued by the Karnataka HC against CCI proceedings against amazon. I hope govt(& I mean every govt, bjp & non-bjp) open its eyes on such fdi related issues before it is too late because in the coming future any country who does not have the economic & tech muscles will simply play the role of a lackey to the countries who do.

haa ye bhi sahi hai. I agree.
but the question is more of existence of these small unions.
you can’t ignore that az/fk offers heavy discounts, promote their preferred sellers and its anti-competitive practice which is harmful for existence of small sellers.
they can’t do whatever they want and deny it later.
believe it or not, this is cheating. fine to banta hai.

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SHARKTANK wrote:

Dekhiye pahele ek gramophone recorder aata tha tho kabhi kabhi uski pin atak jaati thi aur same shabd bas baar baar sunai dete the tho Aise kuch log hote hain (RBI) jinki pin atak jaati hai toh ek cheez dimaag me bhar jati hai tho woh bolte rehte hain Abb aapne iska majaa lena chahiye, anand lijiye, tension mat lijiye aisi cheez ka. Yo!

Bhai iska video upload karo bahut gyan ki baat thi wo mene tv pe bhi delha tha

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guest_999 wrote:

Why would one buy a kitchen utensils set from amazon/solimo when he can buy the same one from a local shop also listed on amazon & where he can go before purchase to actually see the product & again go after purchase in case of some issue unless that local shop is selling it at 20-30% premium & why, because he has to pay all the taxes(& bribes) for running the shop?

Always keep in mind that no country got bankrupted because of amazon but there are examples of govts running their country’s economy into the ground(in India itself there are examples of WB, TN, Punjab etc).

I think local shop are the one who cut revenue of govt through cheap means

Also they are the one who fighs with customer in case of return

Forget returns even getting soemthing deleivered to home was problem before amazon flipkart and now these scoundrals are offering the same who loves just a stone thro from home ,

And the availability of material , saving of time , attitude of shopkeepers ,online shopping is much better

Not everyone in india is a small shop owner and a large section of population is middle class customer , its time govt should think in their best intrest cometition is necessary

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Jiocoin can be expected

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guest_999 wrote:

Instead of “helping small business by restricting fk/amazon” govt should spend effort on bringing all such small businesses to fk/amazon platform but that would be “too economically progressive” for any major political party in India hence all this drama because in India it seems good economics means bad politics.
@bikidas2060

Amazon/Flipkart are very clever. They will thug all those small businesses by introducing their own brand (rebranded) items and promoting them (for free 😛)…There have been lots of lawsuit in US. But sadly no body cares here!

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Time_pass wrote:

Amazon/Flipkart are very clever. They will thug all those small businesses by introducing their own brand (rebranded) items and promoting them (for free 😛)…There have been lots of lawsuit in US. But sadly no body cares here!

That is what govt should focus on, thinking of ways to protect small businesses on amazon/flipkart instead of stopping small businesses to come on amazon/flipkart & restricting amazon/flipkart.

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demerius2020 wrote:

I think local shop are the one who cut revenue of govt through cheap means

Also they are the one who fighs with customer in case of return

Forget returns even getting soemthing deleivered to home was problem before amazon flipkart and now these scoundrals are offering the same who loves just a stone thro from home ,

And the availability of material , saving of time , attitude of shopkeepers ,online shopping is much better

Not everyone in india is a small shop owner and a large section of population is middle class customer , its time govt should think in their best intrest cometition is necessary

In India, it is not the size of a group but rather their political influence which matters & on this front small businesses have much more influence compared to middle class.

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b4tm4n wrote:

haa ye bhi sahi hai. I agree.
but the question is more of existence of these small unions.
you can’t ignore that az/fk offers heavy discounts, promote their preferred sellers and its anti-competitive practice which is harmful for existence of small sellers.
they can’t do whatever they want and deny it later.
believe it or not, this is cheating. fine to banta hai.

Yes amazon/flipkart offers heavy discounts but that is basic principle of ecomm business. In India online ecomm is still not as big & offering discounts is a necessity. Once market matures then such discounts will come down. Also amazon/flipkart don’t sell something essential(like some food or medicinal drug) that can create an absolute monopoly, in worst case scenario amazon/flipkart will sell at same rate as offline shops but even then you will have the benefit of good return policy & convenience of getting home delivery of products.

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b4tm4n wrote:

some e commerce regulations are still pending. Don’t know why they are delaying it.
they wanted to fix discount rates on online products/services.
because many small businesses got affected.
there were some serious strikes by unions for banning az/fk.
uber ki dukaan to mostly amazon ki offers se chal rahi h..bezos india me paisa fek raha hai tab tak maje lelo..
sab online ho raha logon ke convenience ke liye.
but big techs are using deep discount/cb as a weapon to encash corner the market.
aisa na ho sab power inke pass chali jaaye aur local unions/business ki koi value na rahe.
amazon abhi loss making company hai india me, kabhi to bezos fayde ki sochega.
Aap chahte ho poori e commerce ki control az/fk pass chali jaaye?
tab local walon ki yaad aaegi dekhna.
Ab aisa na ho isliye govt kuch to jarur karegi..chahe wo kisi bhi party ki ho.. stuck_out_tongue_winking_eye
Personally, I welcome such restrictions in e commerce issued by govt grinning

maybe you are very rich, and like to buy same product at 10x price from offline

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b4tm4n wrote:

ye 💉 kis liye, injection ? laughing

COVID INJECTION

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Cody wrote:

maybe you are very rich, and like to buy same product at 10x price from offline

amazon is doing great work by looting small union’s rights/opportunities to contribute.
lack of opportunity means more inequality. we are 2nd unequal country of world.
if new technologies/innovations are not reducing the gap between rich and poor, then it will only help those who control/dominate most of it.
apne ko kya fark padta hai bhai, discount mil raha loot lete hai, kuch ulta sidha ho gaya to govt ko gaali dete hai pensive
bas ab 1st rank lelo aur desh ka naam roshan karo.
🙂

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Amazon is dangerous.

They know which color tshirt you would like to buy, in which season & in which style & at what price. They have Data . They know what style of shoes you would like to buy in upcoming winter & they could launch product accordingly. They would have identical & cheaper product in every category, people would buy only their product & it is not good thing. Government should ban them from selling their own product on their retail site, government should also ban amazon’s choice tag.

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Fill this form to appeal against the banning of Cryptocurrency…

The crypto companies have put up an official website & from there you can send a pre-filled email to your Member of Parliament against the upcoming bill…I got this in my email both from WazirX & CoinSwitch Kuber…

https://indiawantscrypt...t/

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Shahskm wrote:

Rbi cant do that immediately. First bill has to be passed in parliament,n then somethin like that can happen. Supreme court’s verdict says that crypto is not illegal(neither legal)

Govt was expected to meet in parliament in dec 2020 session n discuss on it.but that didnt happen

Courts are there to uphold the law and ensure the interpretation of such laws. While the SC’s stand is that it’s not illegal, the moment the Bill is passed, the stance will change..

@bikidas2060 my take on the crypto toungueout
This will be passed, afaik, because RBI has been very strict about banking and Financial/capital markets… I think it’s a move in the right direction.. There is no sovereign guarantee behind Crypto and the same people who are against this bill today would crib to the govt when the coins become worthless expecting the Govt to magically compensate them for it..

In India there is no official way of converting your CCs to Indian currency without a means of the govt knowing where the transaction occurred.. Illegal and hawala methods might still persist somewhere…

I’ve seen people ordering SSDs for laptops and mobile phones in the DarkNet in exchange for CCs… so we always figure out a loophole..

The Hyper/distributed ledger tech it self is amazing and it needs to be used, but currency with no sovereign backing will lead to failure at some point… There needs to be some regulation to it..

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Is anybody knows about ix global or bot currency trading?

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Sevy wrote:

Is anybody knows about ix global or bot currency trading?

Algo trading this works across segments ?

The team with the best algo makes the most money and gets the most clients…

Missing