How to Lose $3B of Bitcoin in India • Hacker News Board

Re: How to Lose $3B of Bitcoin in India

#81

Post by [deleted] » Mon, Aug 13, 2018, 1:12 PM UTC

intended wrote: post #72

JumpCrisscross wrote: post #13

Earlier quoted context omitted.

> Could someone familiar with the matter talk more about what the days/weeks following Modi's announcement looked like for the every day Indian? People with money sold extra rupees to people below the maximum conversion at a small discount. Bank deposits bumped up, which was the point of the exercise—Indian state-owned banks are woefully uncompetitive and undercapitalised. The line about dirty rupees being extinguish…

I dont think this made a difference - If bank of Indore has given out bad loans under pressure to politically connected people, deposits to HDFC do not fix the liability imbalance. And then after all of this - we gave out massive loan waivers to farmers yet again. So back to square one I suppose?

[deleted]

Re: How to Lose $3B of Bitcoin in India

#82

Post by JumpCrisscross » Mon, Aug 13, 2018, 1:15 PM UTC

intended wrote: post #72

JumpCrisscross wrote: post #13

Earlier quoted context omitted.

> Could someone familiar with the matter talk more about what the days/weeks following Modi's announcement looked like for the every day Indian? People with money sold extra rupees to people below the maximum conversion at a small discount. Bank deposits bumped up, which was the point of the exercise—Indian state-owned banks are woefully uncompetitive and undercapitalised. The line about dirty rupees being extinguish…

I dont think this made a difference - If bank of Indore has given out bad loans under pressure to politically connected people, deposits to HDFC do not fix the liability imbalance. And then after all of this - we gave out massive loan waivers to farmers yet again. So back to square one I suppose?

> deposits to HDFC do not fix the liability imbalance

They don't, but it gives the bank cash. Cash makes life easier.

Re: How to Lose $3B of Bitcoin in India

#83

Post by miiguelaruso » Wed, Aug 15, 2018, 12:32 AM UTC

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