[ashwagary]

>Who exactly will be making money?

The holders obviously.

Bitcoin allows any Indian with a cellphone to easily exploit global arbitrage opportunities (BTC/INR and */INR to /) , bypass capital controls, and save money in a medium that the Indian government cannot debase. At least a few million people (especially the international traveler class) will find these characteristics extremely valuable whatever the status of local regulation.

[mise_en_place]

Forgive me for being skeptical, but I’ve never seen Bitcoin used as a medium of exchange. You could argue it’s a store of value, but that’s also contentious. In the last year, it’s back to its original price. So much for being an inflation hedge.

[ashwagary]

>In the last year, it’s back to its original price.

Ignoring the 6,000,000x return over the last 12 years to make a point about it being flat in the short term? Not a great counter attempt.