Indian gov"t warns peocustom livestrong braceletsple on risks of investing virtual currenciesGreat Spring Wedding Favors Ideas Have those "Top 10 gift ideas for women. " type articles confused you enough? Do you have absolutely no clue for you to buy for your girlfriend or wife? A person wait through to the occasion and after which buy the first thing you see for this lady? Do you end up with similar kinds of gifts to your own mother, sister, girlfriend, aunt, and friend? Well, then you should check out this. Things don"t stop there; cakes, pens, pencils, notebooks, the list goes and much more. It makes you wonder who started full notion. Whoever started it, it is idea that caught on like wildfire with personalized baby clothes bringing in the big market these periods. I do not know what it is exactly, shield for your windshield you see someone with their name a good object or piece of clothing, market . something personalized too. Although we live in a pretty quiet and secluded area with little traffic in the stream area, can"t see the forest in summer from household. Over the past thirty years we have had only two cases of vandalism consequently they were both kids. Just one occasion they set the boat adrift which resulted in having go walking to the end of the lake and rowing the boat back and also the other instance they took one oar. Never found it either. Either they needed one oar or thought i would find it but has been not situation. I purchased a light chain and padlock and now we secure the boat during the night time. The oars are brought for the house for safekeeping.
NEW DELHI -- India government Friday cautioned people especially investors about risks of trading in virtual currencies (VCs) or cryptocurrencies such as Bitcoin, officials said.
"There has been a phenomenal increase recently in the price of VCs including Bitcoin, in India and globally. The VCs don"t have any intrinsic value and are not backed by any kind of assets. The price of Bitcoin and other VCs therefore is entirely a matter of mere speculation resulting in spurt and volatility in their prices," a statement issued by India"s finance ministry said.
The ministry said VCs are not backed by government decree and described them as Ponzi schemes.
"There is a real and heightened risk of investment bubble of the type seen in Ponzi schemes which can result in sudden and prolonged crash exposing investors, especially retail consumers losing their hard-earned money," the ministry officials said. "Consumers need to be alert and extremely cautious as to avoid getting trapped in such Ponzi schemes."
A Ponzi scheme is a form of fraud in which belief in the success of a non-existent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors.
Bitcoin, has emerged as world"s biggest and best-known cryptocurrency and has gained more than 19-fold this year.
"The government also makes it clear that VCs do not have any regulatory permission or protection in India. The investors and other participants therefore deal with these VCs entirely at their risk and should best avoid participating therein," the finance ministry officials said.