Bitcoin can replace gold into cash substitutes

Bitcoin can replace gold into cash substitutes

The government confiscated private gold, restricted the import of the occasion, a number of mainstream media in India include “the India times” and “India today”, has been reported in bitcoin news. Positive view of some of the news media platform does not hide bitcoin, bitcoin that can replace the government to complete its initial goal.

The India government waste money, confiscated gold, restricted or even banned gold imports is the first purpose is to combat domestic crime. India’s prime minister Narendra modi? (NarendraModi) is the implementation of strict capital controls to liquidity by limiting criminals, so as to achieve the purpose of reducing the crime rate.

However, the Modi government overlooked an important detail: ordinary people and criminals are using the same currency.

The mainstream media reports

As the experts predict, the waste of money and confiscated gold to the economy of India brought a fatal blow and a very negative impact. People need to queue for days to complete the exchange of notes, some people even died because of exhaustion and.

When the Central Bank of India announced that more than 65% of the domestic ATM machine can not accept banknotes, worse. At present, India is only 35% of the ATM machine in normal operation state.

India’s economic and financial system is in a mess, the mainstream media and the Internet began turning to bitcoin. “The India times” and other media opened bitcoin column, will introduce the digital currency to ordinary people. Because individual gold reserves have been the threat of the government, experts and the media that bitcoin can replace gold into cash substitutes.

Since the currency crisis and scrap gold confiscated, India media began to talk bitcoin.

More importantly, the media bitcoin reported increased demand for the people of India digital currency. India bitcoin exchange Unocoin president and co-founder SunnyRay said in an interview, since the implementation of the waste money policy, India bitcoin demand doubled.

India media platform DailyO said, in the past weeks, consulting bitcoin people increased from 20% to 30%. The number of users in India wallet operator Zebpay is increasing rapidly.

As the mainstream media reports, bitcoin in India has been gradually transformed into a safe haven asset, to replace the gold status. With the in-depth understanding of the people of India bitcoin bitcoin trading volume, certainly a few months will be a substantial increase in the future.

If you want to know more bitcoin related, with “money said” WeChat (micro signal: bishishuo), note: BtcTrade. Before entering the official exchange group.

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