Quote from: markj113 on November 25, 2016, 11:38:39 AM

Quote from: iamnotback on November 25, 2016, 08:16:50 AM

And what was that tinfoil hat nonsense about Indians turning to gold as a currency which I rebutted upthread:

Quote from: https://www.armstrongeconomics.com/international-news/india/india-economic-falls-into-chaos-dollar-rise-in-huge-demand/

India Economy Falls into Chaos Dollar Rise in Huge Demand

US dollars are soaring in premiums on the street. There is a serious risk that the government has shaken the confidence of the people to such a degree, that they trust the US dollar more than their own currency.

...

When Japan would routinely devalue the outstanding currency in the same manner each time a new emperor took the throne, the population responded by using rice and Chinese coins. The Indian economy is turning to the dollar. Physical dollars are commanding a premium because they can politically trust the dollar and not their own currency.

Quote from: iamnotback on November 25, 2016, 08:30:59 AM

Quote from: XCoinCall on November 18, 2016, 12:36:22 PM

India is Paying $900+ for Bitcoin Amid Cash Crisis

https://news.bitcoin.com/india-paying-900-bitcoin-cash-crisis/

What do you think about this?

They will need to switch to Bitcoin to escape from government taxes:

http://www.hindustantimes.com/india-news/after-complaints-of-printing-variations-rbi-says-new-rs-500-rs-2000-notes-legal/

Well you have defo lost all credibility with me :

"Gold premiums in India jumped to their highest in 21 months, as demand surged after the government abolished two high-value currency notes"

http://in.reuters.com/article/asia-gold-demand-idINKBN1360OI

Similar cases exist. This is due to the fact that India has a national tradition as dowries to use gold. The demand for this metal is traditionally high. In other countries it's not, so we are trying to use bitcoin.