The government of India has poisoned the minds of Indians to believe that cryptocurrency is bad, risky, dangerous and criminal. In my experience people were interested, but afraid. My western (for what it is worth) viewpoint was that adoption of cryptocurrency may challenge the gold culture in India. If BTC was promoted, I feel it would surpass gold quite quickly — India has a long term save, store of wealth culture with gold; a cryptocurrency “alternative saving mechanism” challenges the state apparatus and is of great concern to the continued control of the country by its leaders.

Ok, so what was it like when your President/Prime Minister/Criminal in Charge (Modi?) canceled all your money overnight? Did you too lose all your savings?

99.3% of all notes in circulation were exchanged. A vanishingly small amount of money was lost.

The second order effects of course were much worse.