Quote from: igglyboo92 on March 07, 2020, 09:17:43 AM

I would think Indias demonetisation of large banknotes would also encourage distrust of the Indian rupee currency and banking system. Will they turn to Bitcoin though?? That is a big stretch.

They still have the monetary and fiscal tools to temporarily fix that, and hopefully, it won't be as bad as Venezuela. But the problem is there[1][2].

Bitcoin would be a good alternate currency but the whole fiat system is too powerful. If it ever changes, it will take a lot of time.

[1] https://theprint.in/opinion/deposits-after-demonetisation-rose-by-rs-6-trillion-and-yet-bank-credit-fell-study-shows/375880/
[2] https://www.firstpost.com/india/44000-jobs-lost-in-maharashtra-in-demonetisation-year-says-state-economic-survey-document-red-flags-reducing-number-of-industries-8122851.html