All this analysis/conclusions have been drawn from "RBI's hand book of statistics on Indian states"
As a Bharathiya I do not believe in regionalism, I belong to Tamil Nadu as much as I belong to Manipur or Gujarat.
I definitely do not like the way people from the south put down states from the North or the way people from the North look down up on people from the South
All this analysis/conclusions have been drawn from "RBI's hand book of statistics on Indian states"
- The top 10 states as on FY20 – MH, TN, UP, GJ, KA, WB, RJ, AP, TS and MP & all of them put together are ~146 lakh crores which is ~70% of the country’s GDP. The top 10 have contributed ~70% of the country’s GDP (10 yr avg)
-Since FY12 the top three states have always been MH, TN and UP. 4th & the 5th spots have been oscillating between GJ & KA.
-From FY12 to FY20, Amongst the top 10 states MP has shown the max growth at 14.6% followed by KA at 13.2%. This shows how MP has moved into the top 10 and how KA has traded places with GJ.
-The top 10 states have grown at 11.8% (FY12 to FY20) Vs 11.6% of the top 5, the rest of the states have grown only at 11.1% during the same period
This was the growth rate when the economy was deleveraging, GST & DeMon happened, RERA, IBC was enacted and the NPA mess unfolded. This is commendable!
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So the cryptocurrency industry has basically two products, one which is relatively benign and doesn't have product market fit, and one which is malignant and does. The industry has a weird superposition of understanding this fact and (strategically?) not understanding it.
The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.
This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.
The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."
This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.
If everyone was holding bitcoin on the old x86 in their parents basement, we would be finding a price bottom. The problem is the risk is all pooled at a few brokerages and a network of rotten exchanges with counter party risk that makes AIG circa 2008 look like a good credit.
— Greg Wester (@gwestr) November 25, 2018
The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.
This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.
The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."
This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.
