Prices have skyrocketed at Indian Bitcoin exchange platforms following the government decision to denominate the 500 and 1,000 Rupees currency notes with only a night's notice.On November 8, Indian Prime Minister Narendra Modi shocked all his countrymen when he announced the government's decision to make all 500 and 1,000 Rupees currency notes useless starting the next day.The government official said that terrorist groups and money laundering groups were stock-piling currency notes in an attempt to avoid paying taxes and hiding illicit funds.By denominating the 500 and 1,000 Rupees currency notes, which accounted for roughly 90% of all Indian money, the government hoped to render this cash stockpiles useless, or at least trick crooks to go to a bank and exchange their notes, effectively declaring all their funds.While a smart idea in hindsight, the decision backfired after a few days as Indians were left with no means of paying for food and utilities.Without money in their pockets and limited to small daily ATM withdrawls, Indians turned to mobile wallets, but also to Bitcoin.

As demand for Bitcoin grew, the market at Indian-based Bitcoin-to-Rupee exchange platforms went through the roof as prices currently reached a 35% premium (premium = term used to describe the value above the standard Bitcoin - US dollar exchange rate).While 1 Bitcoin is valued at $735 (50,405 Rupees) at almost all Bitcoin exchanges over the world, this is not true in India.If you wanted to buy 1 Bitcoin in India and you'd want to do it with Rupees, it would cost well above that.For example, Bitcoin to Rupee service UnoCoin is currently selling 1 Bitcoin for 62,352 Rupees, which is $909, after previously today the price reached a whopping $985.Fellow service Zebpay is at 61,828 Rupees per Bitcoin, which is $901.During the weekend, the Bitcoin-Rupee exchange rate at Zebpay reached its a staggering value of $996 per Bitcoin.Similarly, at Bitcoin India, the price is 65,846 Rupees ($960), while at Coinsecure.in, the buy price peaked today at 61,969 Rupees ($903).The reason for this 35% premium rate is due to problems in accessing liquidity at Indian banks.

The only currency with a higher Bitcoin premium is the Nigerian Naira, going for around $1,250 per Bitcoin, meaning a premium of 70%.The Indian government already introduced new 500 and 2,000 Rupees notes, but they've limited withdrawls at 4,000 Rupees ($60) per day.In the meantime, Indians are overpaying for Bitcoin in the process of finding alternatives means of payment until the current currency notes crisis ends.Buy bitcoins online in India Seller Payment method Show more… Sell bitcoins online in India Buyer Payment method Show more… Buy and Sell Bitcoins in these popular cities in India City Trading AmountThis currency convertor is up to date with exchange rates from June 24, 2017.Enter the amount to be converted in the box to the left of the currency and press the "convert" button.To show Bitcoins and just one other currency click on any other currency.The Bitcoin is the currency in no countries.Home BTC - Bitcoin 1 BTC Bitcoin to INR Indian Rupee 1 BTC Bitcoin to INR Indian Rupee You have converted 1 BTC to INR: 178 043,56 Indian Rupees.

For this operation we used International Currency Rate: 178 043,56169.The result will appear with every reload of the page.You can convert Bitcoins to other different currencies with the form on right sidebar.If you want to know money equivalents of 1 Bitcoin in other currencies see "In other currencies".bitcoin chart tickerConvert currency 1 BTC to INR.hi mom send me bitcoinHow much 1 Bitcoins to Indian Rupee?dogecoin value usd— 178 043,56 Indian Rupees On this chart displays history of exchange rate for BTC/INR or (Bitcoin / Indian Rupee) 7 days 1 month 3 month 6 month Year 138 AED to USD 20 OMR to GNF 1000 RUB to KZT 1000 EUR to NGN 20 GNF to USD 6950 INR to CAD 1500 EUR to NGN 20 OMR to USD 29 EUR to CAD 29 EUR to CAD 1800 RUB to PHP 40000 NOK to RUBbitcoin api php example

The Holdings Calculator permits you to calculate the current value of your gold and silver.The current price per unit of weight and currency will be displayed on the right.The Current Value for the amount entered is shown.Optionally enter number amounts for Purchase Price and/or Future Value per unit of weight chosen.bitcoin store vancouverThe Current and Future Gain/Loss will be calculated.bitcoin whale clubTotals for Gold and Silver holdings including the ratio percent of gold versus silver will be calculated.bitcoin sender feeThe spot price of Gold per Troy Ounce and the date and time of the price is shown below the calculator.circle bitcoin walletIf your browser is configured to accept Cookies you will see a button at the bottom of the Holdings Calculator.bitcoin value sterling

Pressing the button will place a cookie on your machine containing the information you entered into the Holdings Calculator. the cookie will be retrieved from your machine and the values placed into the calculator.A range of other useful gold and silver calculators can be found on our Calculators pageLONDON 2016 could prove to be the year that the price of bitcoin surges again.Not because of any dark-web drug-dealing or Russian ponzi scheme, but for an altogether less sensational reason - slower growth in the money supply.Bitcoin is a web-based "cryptocurrency" used to move money around quickly and anonymously with no need for a central authority.But despite being championed by some as the digital money of the future, it is often dismissed as a currency that is too volatile to invest in.The reason 2016 looks set to be different is that bitcoin's price is likely to be driven in large part by similar factors to a traditional fiat currency, following the age-old principles of supply and demand.

Instead of being controlled by a central bank, bitcoin relies on so-called "mining" computers that validate blocks of transactions by competing to solve mathematical puzzles every 10 minutes.In return, the first to solve the puzzle and thereby clear the transactions is currently rewarded with 25 new bitcoins, worth around $11,000 BTC=BTSP.But when it was invented in 2008 by the mysterious "Satoshi Nakamoto", who has yet to be identified, the bitcoin program was designed so that the reward would be halved roughly every four years, in order to keep a lid on inflation.The next time that is due to happen is July 2016.Bitcoin was also designed to emulate a commodity by having a finite supply of 21 million bitcoins, which will be reached in around 125 years, up from around 15 million today.Hence, also, the use of the term "mining".Daniel Masters, co-founder of Jersey-based Global Advisors' multi-million dollar bitcoin hedge fund, started his career as an oil trader at Shell in the mid-1980s and spent 30 years trading commodities before crossing over to bitcoin.Now he reckons the price of bitcoin could test its 2013 highs of above $1,100 next year and then pick up speed to rise to $4,400 by the end of 2017.That would be due to a number of factors, Masters said, including an increased acceptance of payments in bitcoin by big companies and authorities, rapidly growing interest and investment in the "blockchain" technology that underpins bitcoin transactions, and also more demand from China as its currency weakens and the economy slows.

But taken in isolation, the halving of the mining reward will increase the price of bitcoin by around 50 percent from where it is now, Masters reckons.That is despite the fact that the halving of the reward has always been inevitable - a factor that would already have been accounted for in pretty much every other market."If OPEC (Organization of the Petroleum Exporting Countries)came out tomorrow and said, 'in six months' time we're going to halve oil production', the oil price would instantaneously react.But the bitcoin market is still in its infancy, and I don't think that factor is discounted into the price fully," he said.Bitcoin's price has already almost doubled in the last three months, putting it on track for its best quarter in two years.It hit $500 last month for the first time since August last year, with Chinese demand for a pyramid scheme set up by a Russian fraudster cited as a reason for the price surge.But Bobby Lee, the chief executive of one of the leading bitcoin exchanges in China, BTCC, reckons there is scope for the cryptocurrency to go much further.

He thinks the price could increase by as much as eight times in the time up to the reward halving, taking it as high as $3,500 by next summer."Today the worth of bitcoin is $1 per capita in the world (population)," Lee said, referring to the value of all the bitcoins in circulation, around $6.5 billion."For such an innovative, decentralized digital asset, I say 'boy, are we undervaluing it'.But it takes a while for people to realize that."Themining reward has already been halved once before, in November 2012, from 50 to 25 bitcoins.The stakes were much lower then, with one bitcoin worth around $12, but nevertheless the price increased by about 150 percent in the preceding seven months - roughly the time left before the next halving."It (the halving) dampens supply so, all other things being equal, that puts upwards pressure on price," said Jeremy Millar, partner at London-based financial technology specialists Magister Advisors, who expects demand to continue to increase."Noone can argue with that fundamental economic principle."