India Assaults Cash Again, 100% Fine For Cash Use Will Boost Bitcoin Price
The Indian finance minister Arun Jaitley presented the Union Budget to the parliament, India’s most important financial event expected with hopes and worries. The budget was supposed to help an ailing economy hit hard by the demonetization of 86 percent of the currency in circulation on Nov. 8, 2016. The government proposes to cut taxes for the people in the lowest income tax slab to five percent from the current 10 percent. The government is also planning a massive penalty on cash use come April 2017. An exercise in populism. Indian media outlets had been predicting a populist budget....
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Bitcoin Cash Argentina, a nonprofit organization whose objective is to promote the use of Bitcoin Cash, has started a flipstarter campaign that seeks to raise funds to explain the use cases of this cryptocurrency in the country and boost its adoption. Argentina’s economy has been severely affected by inflation and devaluation, the reason why interest in cryptocurrencies and how these can be used is growing fast. Bitcoin Cash Argentina Raising Funds to Boost BCH Adoption in the Country Bitcoin Cash Argentina, an organization that deals with promoting the use and adoption of the said....
For quite some time now, bitcoin cash users have been leveraging the web portal read.cash in order to write blog posts, connect with like-minded individuals, and earn bitcoin cash for providing popular content. Now the creators of read.cash have introduced another application called noise.cash, which is similar to the parent platform, but allows people to make noise using much shorter messages. Microblogging and Bitcoin Cash Tipping Bitcoin cash (BCH) supporters have been recently introduced to a new platform created by the read.cash creators. News.Bitcoin.com has reported on the....
As India and its citizens continue to feel the aftermath of the unexpected and unprecedented demonetization event – the ban of Rs 500 and Rs 1,000 notes, two of India’s biggest bank notes – Finance Minister Arun Jaitley has pointed a silver lining – “less cash transactions and an increase in digital currency.” Speaking today, Indian finance Minister Arun Jaitley has opined that India will no longer see traditional cash numbers after the sweeping ban to render 86% of all cash in circulation obsolete, overnight, in early November. Instead, he sees the country moving toward a digital economy.....
Working around the cash shortage in India has become a puzzle. Banks are experimenting with ATM buses, and it is possible to hire people who will stand in line for you. Obtaining new rupee banknotes in India remains a big struggle to his very day. Nearly a month after the cash ban had gone into effect, a lot of residents are still waiting in line outside bank branches. Thanks to Snapdeal, it is now possible to purchase new bills online and have them delivered to a home address. Orders can be placed with debit cards, and there is one rupee commission. Things have gotten out of hand rather....
In fact, UnoCoin reported some trades worth US$871, which is well above the current US$746 price on other exchanges. The Bitcoin price is spiking in India as we speak. UnoCoin, one of the country’s leading cryptocurrency exchanges, marks the price at RS 59,148. That is well above the current US value per Bitcoin, indicating the demand for alternative financial solutions is huge in India right now. But is this a sign of things to come, or just a temporary price boost? Ever since the vast majority of cash in India was suddenly declared “illegal”, the country has been a mess. Financial....