[2016-12-21] NDTV: In a Post Demonetisation World, Indians are Giving BTC a look

[polynesia]

In a Post Demonetisation World, Some Indians are Giving Bitcoins a Closer Look 

http://gadgets.ndtv.com/internet/features/in-a-post-demonetisation-world-some-indians-are-giving-bitcoins-a-closer-look-1640239

Ever since the announcement of demonetisation of Rs. 500 and Rs. 1000 notes in India, there's been a knock-on effect pushing more and more people to look at digital cash. For a lot of people, that's meant a push towards mobile wallets like Paytm, FreeCharge, and MobiKwik - these companies are rejoicing as downloads and usage have shot up. At the same time, there's also been a growing interest in Bitcoin, the somewhat controversial digital currency that has had a bumpy ride in the recent past.

According to Sathvik Vishwanath, CEO and Founder of Unocoin, a Bitcoin exchange based out of Bengaluru, the number of people active on the exchange has gone up from 20,000 to 120,000 a month. That might not be the same magnitude of growth that the wallets have been reporting, but then of course, you're not really going to be able to use Bitcoins to pay for your Uber ride, so that shouldn't be a surprise.

[nizamcc]

Demonetisation has become one of the major reasons why Indians are heading towards bitcoins, and this has helped the growth of user-base a lot here which is why I feel thankful to our PM as due to him, this has become possible. But due to so much negative publicity by media, it is going to be very hard for bitcoins to being used as an alternative to PayTM which has gained a lot more popularity by playing a square on the spot.

[bitcoinisbest]

Demonetization in a way has helped people to look into pother alternative other then cash and btc certainly is one of them and also as per investment point of view its just another asset class which gave return of 70+% during 2016 which no other asset class as such has given it. 2017 may see new high where even btc could jump to 1000+$ in terms of its price.