This is an era of "all things skyrocketing". Prices rise again, and prices are rising, that is, wages do not rise. But in the past two years, the most terrible rise has to be said in bitcoin.

On March 13, 2021, the price of bitcoin broke through $60000, and there was a crazy sense in the world. This caused many people's concern. The former dunputon emerging market team chairman, mcphous, who was called "the godfather of emerging markets", said in an interview recently that it hoped that bitcoin prices would not fall, because if such a situation occurs, the whole market may It will face a large adjustment, the stock market will be affected, the market economy will be affected, especially the hit on the technology shares, will reach an unprecedented height.

So many countries are thinking about making control plans for bitcoin. But nobody thought that India would have successfully fired the first shot against Texan.

To better understand this, we first briefly talk about what is bitcoin and the concept of bitcoin. Originally, it was proposed by Zhongben Cong on November 1, 2008, and was formally born on January 3, 2009. Unlike all currencies, bitcoin is the product of blockchain technology. It is not issued by specific monetary institutions. According to specific algorithms, it passes a large number of methods through a large number of The calculation of the birth.

The distributed database composed of many nodes of the whole P2P network confirms and records all transaction behaviors, which makes the security of all links of currency circulation. The point-to-point transmission means that bitcoin has the characteristics of concealment and decentralization, which is a virtual currency which is beyond the main body of the state. At the same time, its total number is limited, and the maximum limit is 21 million. This is a virtual currency which is beyond the national main body It ensures its scarcity, so it has the meaning of stir fry.

In short, bitcoin is a complex mathematical system on the Internet. Everyone can participate in it. Through "mining", bitcoin rewards are obtained. Therefore, bitcoin has become the most popular investment product of people in a short time. In just 10 years, bitcoin has been 24million times more valuable and crazy. However, it is also necessary to know that behind a crazy industry, it is bound to be sure to participate in it. Bitcoin will be rewarded by "mining". Therefore, bitcoin will become the most popular investment product in 10 years. In 10 years, it will be 24 million times more valuable and crazy. However, it is With huge risks, many countries are arguing about the legitimate legitimacy of cryptocurrencies, and India now seems to be planning to preempt.

According to Reuters in mid March, a senior Indian official said India would introduce a law banning cryptocurrency and fine anyone who trades or even holds such digital assets in the country, and according to disclosure, the bill has a majority in parliament, so many people believe that the bill to seal cryptocurrency is very good It is possible to adopt and eventually become a binding law in India.

If it passes one step ahead, India will also be recorded in history, because it is not only one of the most stringent cryptocurrency policies in the world today, but also the caution before the reform. It is a very bold attempt to hold, issue, mine, trade and transfer cryptocurrency as a crime.

However, India's "big crackdown" on cryptocurrency this time doesn't need to be too strange. The reason is that history has proved that India is not comfortable with cryptocurrency. As early as two years ago, when bitcoin was in the ascendant, India set up a high-level group to draft a draft law, which stipulates that all forms of private cryptocurrency are prohibited and that it is suggested to deal with it The maximum fine of RS 250million and up to 10 years' imprisonment are only imposed.

The proposal was not finally implemented, and in march2020, after the Bank of India reopened its cryptocurrency deal, investors poured into the market, which eventually led to the madness of today.

At present, India has become a "disaster area" of bitcoin. According to the industry estimation, India has 8 million bitcoin investors. Currently, it holds INR 100billion of cryptocurrency investment, which is almost $1.4 billion. Before the opening of the year, the scale of platform users and capital flow have all tripled, and from unocoin, the old cryptocurrency exchange of India In the first two months of this year, even if the wind has already spread, at least 20000 new users have flocked in

However, this craziness will occur. The rapid appreciation of bitcoin comes from the fact that many people in India have fallen to a level in the public health event last year. This part of people hope to be rich overnight. Therefore, even if the bitcoin ban order is now in a hot wind and fire in India, it is still useless. Many investors predict that even if the government is in charge of the public health incident, many investors predict that even if the government has made a big difference, the government will be in charge of the situation The ban, as long as bitcoin does not fall, will remain in the black market.

However, no matter how investors think, bitcoin can not be popular for a long time. There are two main reasons. One is the financial structure of India, which is doomed to conflict with bitcoin. The Central Bank of India and the Reserve Bank of India have a very fatal weakness, that is, it does not support cryptocurrency. If India indulges and the cryptocurrency is circulating freely in India It will certainly affect the financial stability of India

India's financial system today is already weak and cannot bear the impact of international pressure. Therefore, in order to ensure its own financial market, India must seal down cryptocurrency, and even if it can not, it must be restricted. Moreover, in the view of the Indian government, they are more willing to define bitcoin as a Ponzi scheme and gather wildly in the world If you collect wealth, you can't let him go.

And the second point is that India plans to launch digital currency. It can be seen that the future world is a digital dominated world. Just as anyone knows robot, it must be the leading technology in the future. In the currency field, digital currency is bound to be the mainstream of the future. Therefore, all countries are developing digital currency. For example, our digital RMB , now it is in pilot operation, and India does not want to be pulled down too much, and is pressing on research and development.

It is necessary to mention that the Central Bank of India, although it does not support cryptocurrency, does not mean that India should close all encryption currency options. If this cryptocurrency is a digital currency issued by national credit endorsement, there will be no side effect that will disrupt the financial market. Moreover, the introduction of digital currency of the central bank is generally relatively cautious and will not appear heavy The big problem is that today, India is preparing for the popularity of the digital INR and sweeping obstacles.

However, it is not that India can seal off if it wants to implement the ban. Cryptocurrency is not central issuing institution and has no border restrictions. It is born in the trend of "non nationalization". Even if the Indian government seals it down, investors and capital, it can always find new means to continue to circulate. Its concealment is too high. If it is transferred underground, it will be difficult to find new means to continue to circulate. If it is transferred underground, it will be difficult to find new means to continue to circulate To the trace.

Therefore, there are many countries who are not optimistic about India. However, India has opened a new step and has given many countries a reference. In the future, digital currency must rise. Whether bitcoin should be kept or prohibited has become a problem that many countries need to think about.

(2021-4-17)