Bitcoin could be the first global currency. But its rules are enforced by code and physics rather than bureaucracy and politics. The IMF fears being replaced and is fighting back in remarkable ways.
In india, even almost every streetfood store has its own qr code for paying online! So it becomes clear why they fear Bitcoin in india: could be a fast adoption breakthrough and therefore they forbid it rather i think.
Further I tried to exchange Bitcoin into some indian cash but could not find any possibility in Mumbai 2 months ago...
It is really important to connect as many dots as possible to get the "big picture". Here I tried out drawing that picture in a philosophical-economist essay about the psychological benefit Bitcoin provides humanity. May give it a try ;)
Ps: In India you can also see many many big ads for selling or lending gold to the local banks in every town! So money/value saving is a big thing in india culture I guess and that may cause also fear against Bitcoin from the fiatmoney power...
In india, even almost every streetfood store has its own qr code for paying online! So it becomes clear why they fear Bitcoin in india: could be a fast adoption breakthrough and therefore they forbid it rather i think.
Further I tried to exchange Bitcoin into some indian cash but could not find any possibility in Mumbai 2 months ago...
Thank you Johannes. These insights from people „on the ground“ are super valuable!!
It is really important to connect as many dots as possible to get the "big picture". Here I tried out drawing that picture in a philosophical-economist essay about the psychological benefit Bitcoin provides humanity. May give it a try ;)
https://johannesx.substack.com/p/mit-bitcoin-zu-weltfrieden-und-laeuterung (german version)
https://johannesx.substack.com/p/about-bitcoins-high-intrinsic-value (english version)
Ps: In India you can also see many many big ads for selling or lending gold to the local banks in every town! So money/value saving is a big thing in india culture I guess and that may cause also fear against Bitcoin from the fiatmoney power...