India’s Ruling Party Spokesperson Suggests Bitcoin Reserve

[_act_]

What I understood according to the news is that India’s Ruling Party spokesperson, Pradeep Bhandari thinks India should have bitcoin reserve as United States and other countries are having itwhile some other countries are planning to have it also. He thinks it will mean a lot for India for economic growth.

https://coingape.com/indias-ruling-party-leader-suggests-bitcoin-reserve-as-us-fomo-sparks-btc-race/

What I think about this is that as more countries are making bitcoin a reserve in the countries, other countries will not want to lag lag behind and this will make them propose bitcoin reserve.

[Churchillvv]

No country will like to lag behind as long as a country like the US has been involved or leading in this bitcoin reserves, it's more like a guarantor to other countries to start getting involved, it can also be noted in the speech of the India spokesman as he referrence the US to have a bitcoin reserve.

My concern is that wouldn't the IMF want to interrupt just like they wanted to to interrupt Pakistan for proposing bitcoin reserves. They always want to come in between the success of countries that they aid.

[Reatim]

What I understood according to the news is that India’s Ruling Party spokesperson, Pradeep Bhandari thinks India should have bitcoin reserve as United States and other countries are having itwhile some other countries are planning to have it also. He thinks it will mean a lot for India for economic growth.

as expected, usa's moves have inspired other countries

el salvador was big news for the community but since el salvador was not a first world country, other countries did not follow but now that the usa has expressed interest on bitcoin the other countries follow

What I think about this is that as more countries are making bitcoin a reserve in the countries, other countries will not want to lag lag behind and this will make them propose bitcoin reserve.

well asia is becoming more of a crypto hub now with how many countries opening up their arms to crypto

[m2017]

What I understood according to the news is that India’s Ruling Party spokesperson, Pradeep Bhandari thinks India should have bitcoin reserve as United States and other countries are having itwhile some other countries are planning to have it also. He thinks it will mean a lot for India for economic growth.

How will the reserve in bitcoin help the economy? It seems to me, on the contrary, it will hinder. Let me explain.

The money that India will use to buy bitcoin could be used for the real development of the country's economy, for example, in the form of creating some kind of production that will create jobs, produce goods and generate profit. But in the case of investing in bitcoin, the N-th amount of money will be "frozen" and the real economy of the country will simply not receive this money for development, which will reduce the level of economic development.

In the long term, after a profitable sale of bitcoin, India will be able to make a profit, but this will have nothing to do with economic growth.

What I think about this is that as more countries are making bitcoin a reserve in the countries, other countries will not want to lag lag behind and this will make them propose bitcoin reserve.

This is already becoming quite obvious. This can be considered the birth of a new trend.

[Cryptomultiplier]

What I understood according to the news is that India’s Ruling Party spokesperson, Pradeep Bhandari thinks India should have bitcoin reserve as United States and other countries are having itwhile some other countries are planning to have it also. He thinks it will mean a lot for India for economic growth.

https://coingape.com/indias-ruling-party-leader-suggests-bitcoin-reserve-as-us-fomo-sparks-btc-race/

What I think about this is that as more countries are making bitcoin a reserve in the countries, other countries will not want to lag lag behind and this will make them propose bitcoin reserve.

With many countries gaining or amassing Bitcoin through confiscation and investment into the economy or reserve banks like El Salvador , U.S.A and as other countries have done and are still doing, it would rather seem that India is left out of the technological advancement race of this century that some major countries who want to remain dominant and relevant in business and commerce as well as in this times where there are rumors and real time wars happening all over the place, so why would it not be a good idea to invest into getting a Bitcoin and cryptocurrencies reserve to avoid future collapse of the government and civilization.

[fikrett]

No country will like to lag behind as long as a country like the US has been involved or leading in this bitcoin reserves, it's more like a guarantor to other countries to start getting involved, it can also be noted in the speech of the India spokesman as he referrence the US to have a bitcoin reserve.

My concern is that wouldn't the IMF want to interrupt just like they wanted to to interrupt Pakistan for proposing bitcoin reserves. They always want to come in between the success of countries that they aid.

I don't think they will do it when bigger countries enter the stage.

They don't have as much influence as in the smaller countries.

[Uruhara]

What I understood according to the news is that India’s Ruling Party spokesperson, Pradeep Bhandari thinks India should have bitcoin reserve as United States and other countries are having itwhile some other countries are planning to have it also. He thinks it will mean a lot for India for economic growth.

https://coingape.com/indias-ruling-party-leader-suggests-bitcoin-reserve-as-us-fomo-sparks-btc-race/

What I think about this is that as more countries are making bitcoin a reserve in the countries, other countries will not want to lag lag behind and this will make them propose bitcoin reserve.

However, we must also realize that some of the largest bitcoin holding countries currently have a lot of bitcoin which is not the result of purchases like El Salvador's or Bhutan's mining. But some of their biggest holders got bitcoin from the confiscated proceeds. In fact, this actually means that the market can sometimes be surprised by some movements in the country's wallet because the fear of a sale or something like that always causes panic. but yeah, I think countries that have taken the decision to collect bitcoins and have bitcoin reserves for their countries, those countries will not regret that decision in the end. because currently even large companies are competing to accumulate bitcoin. so I think countries will also and maybe have even done the same thing without us knowing. I think India also has the potential to be a country that will take quite positive steps in bitcoin adoption.

[hero_the_bossman]

What I understood according to the news is that India’s Ruling Party spokesperson, Pradeep Bhandari thinks India should have bitcoin reserve as United States and other countries are having itwhile some other countries are planning to have it also. He thinks it will mean a lot for India for economic growth.

https://coingape.com/indias-ruling-party-leader-suggests-bitcoin-reserve-as-us-fomo-sparks-btc-race/

What I think about this is that as more countries are making bitcoin a reserve in the countries, other countries will not want to lag lag behind and this will make them propose bitcoin reserve.

With many countries gaining or amassing Bitcoin through confiscation and investment into the economy or reserve banks like El Salvador , U.S.A and as other countries have done and are still doing, it would rather seem that India is left out of the technological advancement race of this century that some major countries who want to remain dominant and relevant in business and commerce as well as in this times where there are rumors and real time wars happening all over the place, so why would it not be a good idea to invest into getting a Bitcoin and cryptocurrencies reserve to avoid future collapse of the government and civilization.

I would say that it's better to start at all than never doing it.

Surely, some countries already started out big - but it does mean that the opportunity is still there for everybody, big and small.

[pawanjain]

India is corrupted in every corner and I guess if at all the government decides to create a bitcoin strategic reserve there will be people who will be willing to compromise the private keys.
Lets assume they won't and everything is positive even in that case I think the strategic reserve won't be put to good use.
Besides that, there's always a risk of high volatility when one or some of these countries decide to sell their coins from the strategic reserve.

[Bitcoin Smith]

The mentioned person is not in any higher position if I am not wrong so his voice won't really matter and he just spilled it like hundred others because he is a journalist.

How will the reserve in bitcoin help the economy? It seems to me, on the contrary, it will hinder. Let me explain.

The money that India will use to buy bitcoin could be used for the real development of the country's economy, for example, in the form of creating some kind of production that will create jobs, produce goods and generate profit. But in the case of investing in bitcoin, the N-th amount of money will be "frozen" and the real economy of the country will simply not receive this money for development, which will reduce the level of economic development.

In the long term, after a profitable sale of bitcoin, India will be able to make a profit, but this will have nothing to do with economic growth.

It's not as investment but as alternative to Dollars in their reserves, every country must increase their reserves whether it's gold, dollar or bitcoin for the money they print and circulate over the country so it's not bad idea if the government decides to have bitcoin reserve but I doubt anyone in the party got any idea at all about what is bitcoin?

[avikz]

What I understood according to the news is that India’s Ruling Party spokesperson, Pradeep Bhandari thinks India should have bitcoin reserve as United States and other countries are having itwhile some other countries are planning to have it also. He thinks it will mean a lot for India for economic growth.

https://coingape.com/indias-ruling-party-leader-suggests-bitcoin-reserve-as-us-fomo-sparks-btc-race/

What I think about this is that as more countries are making bitcoin a reserve in the countries, other countries will not want to lag lag behind and this will make them propose bitcoin reserve.

Not excited about it! Having more and more governments creating Bitcoin reserve will make the currency more centralised and prone to government control. Not in favour of such bitcoin reserves, really!

Also in India, the government is highly corrupted. So even if the Indian government decides to have a Bitcoin reserve, the benefit may never be passed to the common people. It will remain as a toy for the politicians. Makes no sense!

[Sim_card]

My concern is that wouldn't the IMF want to interrupt just like they wanted to to interrupt Pakistan for proposing bitcoin reserves. They always want to come in between the success of countries that they aid.

I don't think that IMF will pock their nose into India's decision of creating bitcoin reserve for the country because India is under BRICS and thess countries don't go along side with the decision of anything from the US. India will disagree with IMF because they don't depend on them for loan. Pakistan needs the support of IMF to get loan in order to solve their financial problems.

[Franctoshi]

What I understood according to the news is that India’s Ruling Party spokesperson, Pradeep Bhandari thinks India should have bitcoin reserve as United States and other countries are having itwhile some other countries are planning to have it also. He thinks it will mean a lot for India for economic growth.

https://coingape.com/indias-ruling-party-leader-suggests-bitcoin-reserve-as-us-fomo-sparks-btc-race/

What I think about this is that as more countries are making bitcoin a reserve in the countries, other countries will not want to lag lag behind and this will make them propose bitcoin reserve.

It's just a matter of time, we will read or hear more of this news make headlines in the future, because Bitcoin is going to be what many countries will begin to adopt in the future as its strategic reserve and that will be so huge for Bitcoin and industry entirely because the amount of liquidity that will melt into Bitcoin in the future will send the price so high that we may not even imagine, because more individuals and institutions will become so interested in investing into Bitcoin in the future, the world's population is around 7 billion, if we should use like let's say 2 billion people in the world begin to use bitcoin, the price will be so high.

[The Cryptovator]

If India really decides to reserve Bitcoin, then it will be interesting. They don't want to be left behind by the current trend of Bitcoin reserves. The biggest countries, like the USA, with bigger economies, are reserving Bitcoin. So India is also the biggest country with the biggest economy; they shouldn't miss the Bitcoin reserve trend. As we can see, after the USA, more countries become interested in Bitcoin reserves. It will be a revolution if the biggest countries with the biggest economies consider reserving Bitcoin.

The Indian economy will be stronger if they reserve Bitcoin since Bitcoin has an important role in the economy. We can see most big countries play geopolitical games. So no one wants to miss the FOMO of Bitcoin reserves, especially those who understand Bitcoin. For developing countries like us, Bitcoin still isn't legal. So we will be left behind by this Bitcoin reserve trend. Rather, we are struggling to make it legal.

[Jewan420]

Maybe it will not be fruitful in India. There are many reasons for this, one of the most notable is corruption. Even though India is in a high position in terms of size and population, they have not yet become a developed country only because of corruption.

India has been following the United States since the beginning. So it is natural that after the United States, India is planning to make Bitcoin a national reserve. But what is worse than the plan is their corruption. Maybe they will loot a lot through this and incidents like theft of funds will occur. So it is acceptable to say that such a plan in India, although realistic, may not be fruitful.

[SATWAT]

My concern is that wouldn't the IMF want to interrupt just like they wanted to to interrupt Pakistan for proposing bitcoin reserves. They always want to come in between the success of countries that they aid.

I don't think that IMF will pock their nose into India's decision of creating bitcoin reserve for the country because India is under BRICS and thess countries don't go along side with the decision of anything from the US. India will disagree with IMF because they don't depend on them for loan. Pakistan needs the support of IMF to get loan in order to solve their financial problems.

No doubt now things are going amazing for Indian development as they are having good balance into their economy and IMF is having no impact on them but keep one thing in mind its just announcement from an official of ruling party which is not going to have any impact on official things.
For having better update and more discussion about this need to wait for official announcement which is always important Pakistan is doing some work, but it's not going to happen in near future because they are having too many complications about this even they announce about few crypto related things in last few weeks.
If India is having anything official about this hopefully this will give good boost to price of bitcoin while India is surely going to be had important country for bitcoin and crypto related activities due to their strong economy and geopolitics.

[Asiska02]

Yes, this is what we have been speculating and have foreseen to happen after the United States have taken the bold step to set up a bitcoin strategic reserve. The world is already headed towards that direction for now, bitcoin as a store of value just like gold has been in the past is what is making wave today in this digital age.

For the American government to have taken this bold step, other countries even without deep understanding on how bitcoin operates, they will also not want to not be left behind and regret it later in the future when the benefits of having a bitcoin reserve now begins to pave and giving results back to those who invested in it earlier.

This is not surprising as Indian is also an ally of the USA, taken this step was for their own good and following the right step as USA is for them to be in a position of not feeling regret in the future. The world is moving towards the digital evolution, so many countries will want to be part of this revolution which having a bitcoin reserve will help propagate that for them.

[Davidvictorson]

What I think about this is that as more countries are making bitcoin a reserve in the countries, other countries will not want to lag lag behind and this will make them propose bitcoin reserve.

This is what I think as well. And it is a no brainer you can actually guess that once bitcoin reserve is fully done in the US many other countries will follow. And what it means is that well there will be economy growth there's going to be like a tight regulation on Bitcoin.There is the good side to it and there is the down side to it. One of the good sides to it is that the price will increase steadily and as such volatility will be reduced drastically.

[Fivestar4everMVP]

What I understood according to the news is that India’s Ruling Party spokesperson, Pradeep Bhandari thinks India should have bitcoin reserve as United States and other countries are having itwhile some other countries are planning to have it also. He thinks it will mean a lot for India for economic growth.

https://coingape.com/indias-ruling-party-leader-suggests-bitcoin-reserve-as-us-fomo-sparks-btc-race/

What I think about this is that as more countries are making bitcoin a reserve in the countries, other countries will not want to lag lag behind and this will make them propose bitcoin reserve.

I am honestly not surprised, countries having a bitcoin reserve is gradually becoming a global phenomenon, little by little, government of different countries around the world have beginning to realize the importance of bitcoin in economic growth and are gradually embracing it, thanks to Trump and his new US government that opened this door for Bitcoin.

Even the Nigerian government became bitcoin and crypto friendly after Trump assumed the sit of the US president, seems to me like every country around the world are all rooting to create a bitcoin reserve just as the US is doing so they don't miss out, congratulations to India and hope that they take the suggestion serious, include it in a bill, pass the bill and become one the immediate countries to add a bitcoin reserve.

[ruykeri]

When the maximum number of people in a country are interested in any subject, the government also takes that subject under its purview. India is a country with a very large population, and there are many Bitcoin holders and enthusiasts there.One thing to understand here is that while many businessmen, including heads of government of many major countries in the world, are holding Bitcoin and investing in Bitcoin, gradually the governments of other countries will also show interest in Bitcoin.The President of Thailand has been seen as interested in Bitcoin. Donald Trump has spread a lot of positivity towards Bitcoin. In addition, many rich people including Elon Musk have invested in Bitcoin.If you consider all these factors, it will become clear why other countries seem so interested in Bitcoin. India is no exception.India has a lot of people involved in business, they have advanced a lot in the tech industry. So their government can also do something big with Bitcoin for the security of the future.