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RE: What's Fueling This Massive Rise In Altcoin Valuations?

in #cryptocurrency7 years ago

I think another huge factor alot of people are leaving out is the fact that the largest country in the world ( in population size) India has outlawed their old currency. Most people my age (millennials) have lived in a world where the all mighty dollar is law and the idea that a currency can be outlawed is almost fiction, Until India did it. If they can do it any country can.

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It is unfortunate that more than 50% of Indians are so poor they don't even have bank accounts (IIRC), and, for them, there can hardly be a worse calamity than the banning of cash transactions, or at least the 500 and 1000 rupee notes.

There seems to be very few and slim vectors for the unbanked to migrate to cryptocurrency.

Steemit might be the one, nominal vector for adoption of crypto in such a situation.