Today morning I was shocked to see bitcoin fraud news in almost all local news papers.
To deal with crypt, people need to have some sort of knowledge, but unfortunately there are people who follow the craze without investigating any details and fall into trap. And then duped to the tunes of lakhs of rupees.
Unfortunately the rumors about bitcoin being banned in India is still believed to a major extent. The Finance minister of India had stated sometimes back that its not a legal tender. But that does not make it illegal. However this statement was treated as a ban of bitcoin in public, and its very difficult to convince people when they are not knowledgeable.
And when you talk of crypt to anyone, the very first impression is that its banned. So cheaters take the advantage of this. They convince the potential investors not to discuss about the trade in public. And then buy a nice window to dupe them.
The police is also not well equipped in this matter. It just take my life little difficult to talk about Steemit or Steem in general. Because the moment I say its a crypt based platform, people have reservation :)