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Your points about families living together and the off-the-books nature if income is really interesting.
How do people generally acquire gold? As jewelry at small stores? Maybe this is one advantage gold has over bitcoin -- you don't need kyc to buy jewelry.
Would you say it is easier to acquire gold in India than it is to acquire bitcoin there?
Thanks. Yes, jwellery at small stores. Yes, it's definitely very easy to acquire gold, albeit in small amounts. I can't say acquiring Bitcoin is either difficult because you can easily buy from many exchanges, indian or international, however you are subject to a 30 tax on profits + 1% tds upon sell.
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I suppose I meant can you buy gold at a small shop without kyc/ID? Can you buy bitcoin easily without kyc/ID?
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That's what I replied..haha. Sorry, I didn't give a straight answer. Non Kyc/ID Bitcoin can't be acquired acquired as easily as you can acquire Gold.
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