Bitcoin Thrives as China, India, Zimbabwe Plunge into Monetary Chaos
Across the world, unaccountable, unelected, bureaucrats, continue to mismanage their nations’ money in numerous ways at a high cost for the people. The most striking case is in India. It is difficult to imagine waking up one morning to suddenly find out that 85% of your money is not actually money any longer, but that is exactly what happened at one of the most populous country on earth, where, what the day before was worth 500 rupees or 1,000 rupees, around $7 and $15, was instantly declared worthless. The decision was made in complete secrecy, according to the Times of India, which....
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We are living in a brave new world here in India. Enough has been written about the “end of cash” and how there will be a day when we will all be using digital money. Well that future has arrived for the one bln plus people of India. Ever since the demonetization of the Rs. 500 and Rs. 1000 banknotes on the midnight of Oct. 9, 2016, life has turned into a ghastly nightmare for billions of teeming masses. Things that we took for granted have become a challenge, not unequal to climbing the highest of Himalayan peaks. Welcome to cashless chaos, the story of a demonetized India. Cash starved....
Bitcoin, like other constants in the universe, creates a foundation upon which humanity can interpret monetary information and chaos.
Will Bitcoin’s future rest on keeping the dragon happy? We have come a long way from an independent currency. What would you rather have? Wild speculation but a completely government free Bitcoin or a new Bitcoin run by the PBOC? Bitcoin was envisioned as a free and independent currency and it was always thought that governments could not really have a great impact on the price movement of this cryptocurrency. Indeed, it has been this aspect of Bitcoin that appealed to many people including people in countries like Venezuela, Nigeria and India where government’s mismanaged their domestic....
Global crypto governance, despite India’s nine-month presidency within the Group of 20 (G20), has shown limited progress, according to Subhash Chandra Garg, India’s former finance secretary. India took on its G20 presidency in December 2022 and is set to hand over the leadership to Brazil in November this year. Throughout this period, Indian officials, including […]
Several new developments are pointing to India as being the next point of interest for the key digital currency Bitcoin. They are building on the untapped opportunities available to the country’s billion people. Surge in Internet use. India has overtaken the United States to become the world’s second largest Internet market, with 333 million users, behind China’s 721 million. Even though this is a positive development, the new report by the UN Broadband Commission for Sustainable Development also confirms that just six nations – including China and India – together account for 55% of the....