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Might have something to do with the demonisation of the 500 and 1000 rupee bills? I don't have any evidence, but this seems another blow to the credibility of f
by koonsolo 10y ago
Might have something to do with the demonisation of the 500 and 1000 rupee bills? I don't have any evidence, but this seems another blow to the credibility of fiat money.
https://en.wikipedia.org/wiki/Indian_500_and_1000_rupee_note_demonetisation https://en.wikipedia.org/wiki/Indian_500_and_1000_rupee_note...
- djaychela 10y agoI've seen a number of news pieces coming up in my Google feed saying that adoption in India has increased hugely as a result, such as [1], and it would make some sense given that many do have mobile phones. I'm not sure about a blow to the credibility of fiat money, but it may be a reaction to what could be viewed as a very difficult policy for a huge number of people to deal with, but then that's the kind of thing that helps adoption of alternatives. [1]http://www.thehindu.com/business/Industry/%E2%80%98Bitcoin-adoption-in-India-sees-surge%E2%80%99/article16716798.ece http://www.thehindu.com/business/Industry/%E2%80%98Bitcoin-a...