@btvgainer
People don't trust government fiat lol. They use it out of fear cause you would be punished by force if you issue your own.
Also, yes if anything is government owned in India, it is, or will become, corrupt because the judiciary to enforce it is corrupt.
How many people want to issues their own currency? and why would someone want own currency in the first place?It is trust that keeps any currency alive.People do trust in INR thats why they accept it
Go read history. Every single Indian kingdom issued their own coin. We stopped doing it since we stop changing regimes. (Really though, we did not stop doing it even after independence from british rule; we just don't change the face on the note but governments totally change the monetary policy behind it. We have been lucky, unlike the US, Japan etc. to have very intelligent economists, hence you don't feel the effects. )
As to why one would want their own currency. Well there could be multiple reasons. Satoshi's reason is the first para of the whitepaper. You should read it. Also, read bitcoin's first block. You will find a news headline there. Go read that news and then go read about bailouts in other countries.
I use INR because nobody else accepts anything else because it is illegal to do so.
All of this is soon going to be obsolete brother.
There was a time when people asked, why would anyone need their own newspaper?
Now, everyone has a blog.
Well, you may say you don't, but your facebook profile is a blog.
Soon, everyone will have their own currency.
