While new investors are tensed amid the uncertainty of the upcoming cryptocurrency regulation bill, the Indian Media Houses are certainly contributing to the rising fear and stress for investors with their false claims and misleading articles. At a time, when people like us are interested in watching news related to the bill, the Indian Media houses are claiming news like Cryptocurrency Ban and Penalty of Holders according to their so-called sources, people must understand what real fact is and avoid panic selling their crypto assets. Today, in this article, let’s discuss some of the points which you should keep in your head while watching or reading these news sources.
1. The So-Called Experts
It’s very common that the normal average person doesn’t understand what real journalism is and what is fake journalism. Last night while scrolling through Twitter, I saw a meme that was in circulation showcasing 10 so-called experts who had absolutely no knowledge about the subject they were asked to speak about. One of these so-called experts who claimed to have been from an IT background even called Bitcoin as a Ponzi, which shows how shallow their depth of knowledge is in this field. While others weren’t even sure of the pronunciation of Dogecoin. These people come in front of the television every day at night and acts of foolishness like this make the new investors go in shock and panic.
Now, you might ask me, why do events like this occur on Television each day? Well, one simple answer to that question is we all want to see this type of negative news. The job of news channels is to sell what is selling. In this case, it’s fear of getting a ban which simply makes no sense to me atleast.
2. Politicians who don’t understand the Concept
Okay so amid all this conversation comes to the politicians who are elderly folks and their traditional tendency is like whatever is going on let it happen and propose a ban on any form of new technology. The same event occurred while machines and computers came to India, the Internet was introduced in India and today Crypto is getting started. These were the people who said machines will take jobs of common people, the Internet is home to all forms of illegal activity and p**n, etc. Today they are claiming Crypto is used in terror-financing. Let’s be very clear, everything around us has an upside and downside, it’s up to us how we perceive the technology behind it.
Bitcoin’s sole purpose was to remove the middleman from the transaction which occurs in our daily lives. In this case, it’s the Government, the banks, and corrupt politicians. The details of each and every single transaction and wallet are publicly visible which can be traced back to every person. While that is bad for these political leaders as black money can get traced back to them, but it’s beneficial for the common Joe who won’t have to depend on banks to safe keep his wealth or investment firms to prevent his money from inflation. It’s pseudonymous and highly secure. This use-case isn’t visible to the so-called educated leaders and they will keep insisting to impose a ban.
3. Central Banks or the brrrr printers
Who hates money? None of us. Well, imagine you had a printer and you could print as much money you needed to buy real-world assets and bonds that too at a yearly interest where the borrower has to pay you an additional sum on the money he just borrowed which came from thin air. That is the work of Central Banks all around the world. The average Joe can’t do this at home because it’s illegal for him to print money but those 4-5 people can do the same in broad daylight and it’s 100% legal. It has its own consequences, the rich keep getting richer and the poor keep getting poorer. Also, we can’t ignore inflation right? Your money yesterday isn’t the same today, it has gone down in value.
Why do these bankers want a ban on Bitcoin? Ask yourself. You are storing fake money in your banks. As per Robert Kioski, “It’s like eating fake food, or drinking fake water”. Only Gold, Silver is real money, and Bitcoin is on the same road as a decentralized digital asset which no one can ban.
While drawing a summary to this all, ask yourself you want to be dependent on the Government money or decentralized money free from corrupt activities. Keep tweeting