[2016-12-08] Demonetisation: Why Bitcoin is gaining currency in cashless times

[polynesia]

Demonetisation: Why Bitcoin is gaining currency in cashless times

http://economictimes.indiatimes.com/small-biz/money/demonetisation-why-bitcoin-is-gaining-currency-in-cashless-times/articleshow/55865960.cms

Nobody in the lecture hall was taken aback when Sahil Shah, a second-year BBA student of NirmaBSE 0.06 % University, Ahmedabad, secured a perfect 10 in his class project — on bitcoins. “A man who can make money selling bitcoins can also yap about it,” jibed his close friends.

It is almost lore on Nirma campus—18-yearold Sahil Shah made a cool Rs 42,000 profit selling two bitcoins on Zebpay (a bitcoin exchange) a week after Prime Minister Narendra Modi announced the withdrawal of Rs 500 and Rs 1,000 notes. The youngster, like many other early adopters of bitcoin, surfed the rally in bitcoin prices that followed the PM’s announcement.

[nizamcc]

This shows that adoption for Bitcoins in India is growing at a faster pace than any other country and all thanks to our PM for his decision on stopping 500 and 1000 notes to be used as a legal tender. These news are surely going to affect the prices to grow even higher and it won't stop here.

[bitcoinisbest]

If considered in last weeks btc price is almost stagnant and there are not much trades happening. Not sure the reason for being such a stagnant in trades. Even the Indian exchanges prices are almost similar on daily basis seems to be crunch for bitcoin at the moment.