@samarof69 on Farcaster: "Crypto is dying a slow death i..."

7mo

Crypto is dying a slow death in India - extreme taxes by the government - looming threat of official ban - crypto traders charging excessive fees - no deposit insurance for wallets - wallets scams (deliberately) left uninvestigated by the government All of this because it decentralises power of the system away from the politicians

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srijan.eth

7mo

++ political incompetency at its peak

bytebot

7mo

is it really dying a slow death, and is Modi just not crypto-forward enough? curious though, polygon must be doing quite well, regardless, right?

samarof69

7mo

No idea about polygon but modi looks to be tech savvy but any decentralised crypto loses the hold that he has on political funding so he has to squeeze it by the neck

spaceman-spiff

7mo

History has shown us repeatedly that once humans get their hands on the money printer, they hold on tight and don't let go until they break it.

links

7mo

Did you think politicians will let go of power easily? All the more reason to advocate for it.

chaplino

7mo

Ya the India tax on transactions is mind blowing kek

Forced KYC

only babus/ bureaucracy rule in India they don't see commision can be made by promoting Blockchain tech. They hate transparency, we see that scams are done using fiat- conveniently using loopholes like donations to political parties

main-rapidshor

7mo

You people need to change leader

Atleast I am trying

You're right, Pakistan is trying to do same in the name of regulating crypto.

abram

7mo

Good points in favor of the belief that crypto adoption will not look like that of the internet, because the institutions crypto replaces have far more to lose than media companies

andreaboi.eth

7mo

All governments don't want people have control and power on his own money and trying to steal as much money they can with taxes.

2blunt4u

7mo

Just at the climax of the rodeo. ….then they fight you!

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