Monday, 15 May 2017

The monopoly economy and the bitcoins in India.

The central bank is an institution that exists in most countries and exercises as monetary authority, as such is usually responsible for issuing legal money and in general to design and implement the monetary policy of the country to which it belongs. These banks are usually public entities and, in the contemporary practice of a large number of countries, are said to be autonomous and independent entities of the government of the country or group of countries to which they belong. In order to fulfill its functions, the central bank has a monopoly on the issuance of legal money

Central banks are determined to fix by military order and by decree what should be the most free market price, interest rates; And in directing the money supply. Economists at a school in Australia showed that it was impossible for a central planning body to get the information it needed to give content to its mandates. It is the principle of the impossibility of socialism. Monetary authorities, instead of ending cycles, initiate and reinforce them.

Many economists and experts on the subject around the world have seriously considered the partial or complete demonetization of cash and avoid bank monopoly. Among the many possible options to achieve this goal is the use of digital currency or also called bitcoin.

In India the use of bitcoins began sporadically and little by little it was catching flight between the inhabitants. The exchange of bitcoins in India is very popular although its legal position is not yet clearly established. People buy bitcoins looking for the best exchange rate for bitcoins in India, research more on the subject and look for how to be able to buy bitcoins instantly in India at the best price.

Also, merchants and enthusiasts, say that the bitcoins do good to trade. According to a recent Times of India article, decentralized cryptography is becoming attractive because it can be used to move money around the world in an easy way and without asking permission from any foreign exchange entity. Sell Bitcoins in India continues to increase while cash banking operates very little.

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