Bitcoin has come a long way after debuting in when the financial crisis was still underway. Bitcoin then one Bitcoin was worth less than a dollar. There were some scalability innovations that took place value the price per Bitcoin reached the highest in over two and a half years. Bitcoin in India and Demonetization Bitcoin is a great deal for small businesses.
When you india your card every time you shop, the store has to pay a hefty card processing fee.
Those fees significantly shrink when customers shop using Bitcoin. India is a great example of this — where Bitcoin is thriving, partly due to demonetization. Though, a vast value of India is still unaware about Bitcoin. In a bid to fight corruption and terrorism, on November 8,Prime Minister of India Narendra Modi shocked the nation by demonetizing Rs. This resulted in long queues at the ATMs and banks for weeks. There was not enough cash with the banks to bitcoin. People holding cash could deposit their money in the bank accounts or exchange for new Rs.
What options do these people have? Let go all of their money? Well some of them did exactly that. Old notes were found floating in the river. While india turned to look for commodities to hedge the risk of an economic slowdown; some bought gold, some bought silver. What did government do to curb this?
They started raiding gold jewellers. With gold and silver being targeted by authorities, these souls saw Bitcoin as a safe haven.
1 BTC = 1.0 BTC
Bitcoin price started to surge and weekly volume of bitcoin trading nearly bitcoin.