RBI (Reserve bank of India) warns against the use of bitcoin

Since bitcoin have crossed $15000 there is a hype about bitcoin in India. Bitcoin has been searched on google more than gold. Many of my friends are starting to ask me about bitcoin, who ignored my advise when i told them to buy bitoins almost a year ago. A series of warning has been given by the RBI against the use of bitcoin. They have no idea about the strength of Blockchain and Smart Contracts and how they are going to change the world. They think that it is a way of money laundering. I'd like to quote what Warren Buffet had said, " If China cannot stop Bitcoin, no one can"
Blockchain and Smart contracts are the future. Ethereum Blockchain is used for Smart Contracts since it has unlimited processing capability. There are huge projects already into existence and many more to come.

all those "RISKS' and "DISADVANTAGES" are actually the main reason why people loves bitcoin.

1.) no central parties to interrupt the transaction - no more banks, intermediaries, and middlemen who disrupts a peer-to-peer transaction. that means we trade with freedom. banks restrict outgoing cash if it's really big, the hell they should freakin care! that is our money! we spend it like we own it period! we wanna spend millions in one go because we want to? no more banks to stop us or warn the police about it! paypal? gees! i used to work with ebay customer support and the usual issues sellers get is that once they deliver the items, the buyers will ask paypal to reverse the payment due to fraud . in bitcoin? if it shows as being delivered, you send the bitcoins, no goin back. less fraud !

2.)not backed up by anything - hypocrisy! fiat, dollars, euros, they are all not backed up by anything anymore! same with bitcoin. it is all about trust to bitcoin like we falsely trusted dollars before. but unlike dollars that if it crashes, it has no power, bitcoin will as long as there is supply and demand from around the world.

3.) stored in apps : have they even researched about cold wallets?!colds wallets cannot be hacked remotely unless you have the physical storage . but it is still safer than leather wallets with thousands of paper money in it. you can hide a cold wallet in your socks, in your underpants (comfortably) it's less conspicuous than leather wallets that bulge out the more money you have it in. you can carry millions of dollars worth of bitcoin in a flash drive and get the heck out of your country ! you can't do that with gold or paper money . also, we can retrieve our passwords for online wallets simple by asking the app provider! i done it a couple of times before it is not that hard.

4.) used for illicit activities : two things. anonymity and privacy is important for any person in the world. we don't need banks anymore who secretly lends our deposited money (do not lie, this is how banks loan money to richer people). being used for evil? and banks are not?! 2008 financial crisis , DO NOT EVER FORGET WHAT HAPPENED TO THAT FATEFUL YEAR. without that trigger, there will be no need of bitcoin. if banks are responsible and pro-people, bitcoin will definitely be an absolute evil. right now, you can say it's a lesser evil to beat a darker, more sinister evil that is banking. i rather have millions worth of bitcoin be used by fewer people as long as we get our financial freedom, than billions of dollars being used by a couple of bank people and there is a steady inflation or loss of value of our hard-earned money.