“As a store of value, cryptocurrencies like bitcoin have given impressive returns so far, but so did tulips in 17th century Netherlands. Cryptocurrencies are very much like a speculative or gambling contract working like a Ponzi scheme. In fact, it has been argued that the original scheme devised by Charles Ponzi in 1920 is better than cryptocurrencies from a social perspective.”
Sitharaman reminded that the Reserve Bank of India has been cautioning users, holders and traders of virtual currencies since December 2013.
Ms Sitharaman looking out for the poor Indians while slowly killing the economy lol.
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