Post
Topic
Board Bitcoin Discussion
Re: India is Paying $900+ for Bitcoin Amid Cash Crisis
by
hakanbalta577
on 25/11/2016, 18:26:45 UTC
I am also from India and facing this issue as well.The main reason behind this have our government is taken a huge step and banned the higher value notes to take control of black money.So peoples here are trying to either buy gold with them quickly and some who know about bitcoins want to buy it.
Every day i see in our india exchange btcxindia.com,the price of bitcoin is just inreasing.

Is gold viable as a currency? How do you trade a gold necklace for a hamburger?

Wouldn't an instant currency transfer with your mobile phone be more practical?

Aren't Indians very fond of having a smart phone as soon as they can afford one?

The government can't stop people from using crypto-currency unless they block the Internet.

Am I correct that Indians hate to pay taxes?

Sadly yes indian dont love to pay taxes but i am totally against it because there is a huge lot of black money in our country which is slowing down country's progress for sure,thats why that strong step being taken to remove all those black money.
Bitcoin can be an option but still to buy bitcoin people have to first deposit their cash to bank account and then buy bitcoin and i that way government can track that big amount is being deposited but yes they can never know how much bitcoins have been holded and hence cannot take tax for that.