I vaguely remember learning about India's caste system in school. It's easy to forget they have one because it is obviously so archaic and contrary to our way of life. They have a very interesting culture, to say the least.
India has been recently threatening a law that would imprison citizens simply for holding Bitcoin. Their proposed ten year sentence is hardly a slap on the wrist.
It was brought to my attention recently: a lot of the resistance that cryptocurrency faces in India is directly attributed to their caste system. What would happen if a janitor managed to acquire several dozen Bitcoin (or any other crypto) when it was extremely cheap to do so? In America, everyone is simply a temporarily embarrassed millionaire until they win the lottery and strike it rich. In India, it would be unacceptable for an Untouchable or Sudra to acquire millions of dollars in this fashion. The entire caste system would be broken by it.
Well, get ready India, because there is nothing you can do about it. People used to worry about crypto bans happening around the world. Now bulls think it's even more bullish when a country attempts to engage in such a futile uphill battle. Monero will reign supreme in India, they say.
I tend to agree. There is no stopping this revolution, no matter how stunted and slow progress is, progress is being made nonetheless. I for one am glad that India's caste system will be no more. Being born into your class and never being able to make something of yourself? What kind of culture is that? I have no respect for it.
Regardless of what I think, this kind of disruption is going to shake the country with the highest population density in the world to its very core. It's not going to be pretty. This doesn't apply to just India, but the entire world. India is simply a worst case scenario.
Let the chips fall where they may.
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