[2016-11-11] HT: Bitcoins may gain ground as govt fights black money

[polynesia]

Bitcoins may gain ground as govt fights black money

http://www.hindustantimes.com/business-news/bitcoins-may-gain-ground-as-govt-fights-black-money/story-8eVzxnr2jGqAog7iZkP1YP.html

Those who possess bitcoins in India feel the government’s drive against black money will help the paperless, bank-less, and state-less currency gain ground.

Queries for bitcoins have gone up by 20% to 30% in the past couple of days, according to ZebPay, the largest trader of the digital currency in the country, which is adding 25,000 new bitcoin customers every month.

ZebPay already has 200,000 of the 400,000 odd bitcoin owners in the country. “People who never talked about bitcoins called me. Financial companies also want to invest in bitcoins ... that’s a big change in a country where bitcoins have not taken off,” said Saurabh Agrawal, CEO of the company.

[philiveyjr]

I don't feel the same. For anyone with large amounts of black money won't want to invest in something which is as volatile as bitcoin. I think the queries for bitcoin went up only because they wanted to buy it using cash which isn't possible right now.