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      "body": "This is the government's plan, ban the decentralized cryptos like BTC and only permit people use the gov/central bank created crypto - in other words - digital fiat.\n\nI recently posted a blog about possible gov interference in cryptocurrencies. Might be worth a read for you.\nhttps://steemit.com/bitcoin/@cryptojaxx/bitcoin-is-unstoppable-is-it-really",
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      "body": "![Lakshmi.png](https://steemitimages.com/DQmdBToeDJRJtRRyC7rpKogBaQ3gVMJUhLfv5BWzntthNXf/Lakshmi.png)\nIf you thought cryptocurrency was losing its steam and become unpopular with the recent bashing it received from JP Morgan boss Jamie Dimon and the Chinese government. You are terribly wrong. The latest show that crypto currency is gradually winning back more believers with the latest being the Indian government!\n\nAccording to a publication by [Business Standard](http://www.business-standard.com/article/economy-policy/govt-considering-its-own-cryptocurrency-117091600051_1.html), "_Sources close to the development said that the proposal was discussed by a committee of government officials, and the panel found the idea of setting up and running blockchain for financial services useful_."\n\nThe publication further said that the government officials are uncomfortable with Bitcoin as the cryptocurrency for settlement over a blockchain and are, therefore, seeking for a solution that would include a cryptocurrency that is backed by government.\n\nThough not yet approved, it is expected to fall in the domain of the Reserve Bank of India once the government makes a final decision on it. The government may also need to amend some acts like the 'Currency Act' in order to provide the appropriate legal framework needed to make it work. However, it is expected to pass through some lengthy process before everything takes the expected shape.\n\nIt also added that the officials had discussed the possibility of naming the cryptocurrency "Lakshmi", a name after the goddess of wealth and prosperity in Hindu.\n\nIt would be noted that CCN also reported recently, that the Central Bank of India was already making some researches regarding currencies because of their intention of digitalizing their fiat currency, the rupee.\n\nRBI executive director Sudarshan Sen had revealed, while speaking at a FinTech conference last week, that "a group of people within the RBI "are looking at fiat cryptocurrencies" as an alternative to the India rupee".\n\nShould India finally make up her mind to float her digital currency, it is likely that Bitcoin might further be banned in the country in order to give more support to its own digital coin, though the finance minister Arun Jaitley admitted last month that the few years have shown a notable growth of india's bitcoin market.\n\nIndia is not the only country that has recently indicated interest in creating its own cryptocurrency, Russia, Estonia and China are also said to be giving it a serious thought.\n\nWhat would be the fate of Bitcoin?\n\nThe fate of bitcoin hangs in the balance, because as more and more countries seek to create their own cryptocurrencies, the tendency is that they may end up looking for ways of frustrating bitcoin which they already consider a fierce rivalry. While some countries might place it under severe regulation, it is possible that others might ban it outright.\n\nChina is already taking a hostile stance towards bitcoin and with time, others may toe the same line. We all know that market demand plays a major role in determining the prices of cryptocurrencies. So, if more countries place a ban on bitcoin, its price will certainly fall.\n\nWe all keep watching as events unfold.",
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      "body": "![bitcoin.png](https://steemitimages.com/DQmaBQWhKPJMkJFW3vZXhD2vZymk3ASWDnCN88ZB2VJ2Wks/bitcoin.png)\n\nBitcoin and other cryptocurrencies are now a hot cake and everybody is scrambling to get a fair share of the cake. Investing in cryptocurrency, no doubt is a right step in the right direction but the terrain is full of ups and downs. Only those who have the right information are likely to come out unhurt. Sometimes, even the well-informed ones get their fingers burnt because the crypto market is volatile. Anything could make the prices of coins to change at any time.\n\nAll things being equal, there's a lot of money to make from the digital currency market. For instance, Bitcoin and Ethereum have already made a lot of people to become millionaires because they invested at the right time and when the prices of the coins went up, they suddenly woke up from sleep to find out they were in millions.\n\nNow that you are aware there is so much to make, do you just jump into the market? No, of course! Doing so might make you lose your life savings and end up in a state of depression. You must know one or two things about the market before opting to part with your investment money. So, what are the things to know?\n\n1. Buying and holding\n\nThis is the commonest style of investing in Bitcoin whereby a buyer purchases Bitcoin in hope that its value will appreciate. This phenomenon is simply referred to as "holding". Before buying, you must decide whether you are there to buy and hold till there is a rise in price. Ask yourself again if the price is likely to rise beyond the point where you are buying.\n\nA few advices for buying and holding Bitcoins\n\n- Don't invest more than you are able to. In other words, be sure you are investing the amount you are prepared to forfeit should there be any great fall in price\n- After buying, move your Bitcoin to your personal wallet. They should never be left at the exchange. You can use hardware to secure it if possible.\n- Always buy from exchanges with track records\n- Buy Bitcoin through Dollar cost averaging. That is to say, you should not buy all your Bitcoins in a single trade. Instead, spread out the purchases over days, weeks, or months so that you don't lose all your money if things go wrong.\n\n- Trading in Bitcoins\n\nTrading in Bitcoins is not the same thing as buying and holding. It simply means that you trade with the intent to buy at a very low price and sell when the price is high. To succeed in this terrain, you need to acquire some knowledge on how the trading is done. You can [get some tips](http://cryptopotato.com/8-must-read-tips-trading-bitcoin-altcoins/) here.\n\n- Investing in Bitcoin mining\n\nIf you have enough money, you can invest in Bitcoin mining. But for an average investor on a low budget, this is not advisable as a lot of money is involved in buying the mining equipment. You should rather use your money to safely buy Bitcoin than spending it on purchasing mining equipment.\n\n- Grow your Bitcoins\n\nThis involves investing your Bitcoins in companies or investing in HYIPs (High Yield Investment Programs). But you must be aware that there is hardly anyone that can help you grow your Bitcoin into something great. A lot of the sites that promise to multiply your Bitcoin or pay you a high margin profit when you participate in some of their programs are there to defraud you. So, don't allow any form of greed to push you into them. You could lose your hard-earned money.\n\nWhen you see a site that promises you those profit margins that look too good to be real, please, don't get involved. However, if there are programs you can trust and have done a thorough investigation about them, you should invest with care but remember that you do so at your own peril.\n\nMy sincere opinion is that you should use the first three ways of acquiring Bitcoin. Try as much as possible to avoid number four because you could get your fingers burnt in the process. Bitcoin will naturally grow based on market demand. Don't be in a haste to make more gains.",
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