Thread by @chennai2london

(1/6)Yet another crypto crash. I have repeatedly talked about these scenarios in my Episodes.

Important to remember now
1. Don’t panic
2. Don’t believe in FUD
3. Stay calm

In future
3. Realize profits
4. Maintain liquidity
5. Keep a portion in stablecoins

#IndiaWantsCrypto

(2/6)
Why this crash today?
Again a number of reasons

News channels spreading FUD in India again for e.g

First they said total ban.
This week it was ruled out by the FM. So what’s the next rumour?

Ban non custodial wallets is the news.
Again unconfirmed at the moment….

(3/6)
Non Custodial or DeFi wallets are core to Blockchain. It’s a pillar of the future of Crypto.
Banning it will be draconian.

Simple comparison I can think of
For e.g If You can’t hold gold in your house. All gold should be in bank only?

That’s from democracy perspective..

(4/6)
The technological limitations of banning DeFi wallets is devastating. It is similar to saying you can’t download apps on smart phone. You can ban some apps but a totalitarian ban on mobile apps?

Apps allow you to use smart phone.

DeFi wallets allow you to USE blockchain..

(5/6)
Decentralised Finance
Metaverse & Gaming
NFT
Web 3.0 (decentralised)

Countless innovations where India will be left behind.
There are people like @NischalShetty @sandeepnailwal who have done so much for Crypto in India & continue to advocate it.

(6/6) Having said all of that anything is possible when people taking decisions don’t understand the impact or don’t care.

So once again stay calm & patient, learn how to cut risks in the crypto investing & don’t panic sell.

Knowledge is vital. Invest time to gain it.

NFA