---
title: "One of Bitcoin's nice features is that no single institution can…"
date: 2016-11-15
source: facebook
type: Archer T. Ships shared a link.
---

# One of Bitcoin's nice features is that no single institution can…

*November 15, 2016 · Facebook*

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[http://time.com/4569379/india-currency-ban-cash-modi-effects/](http://time.com/4569379/india-currency-ban-cash-modi-effects/){target="_blank"}
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One of Bitcoin\'s nice features is that no single institution can declare it worthless overnight.\
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\"Last week, the government of India's Prime Minster Narendra Modi triggered a nationwide scramble for cash, after unexpectedly banning currency notes that account for 86% of all money in circulation. Modi said the move was targeted at tax evaders with large stockpiles of illicit cash, as well as at currency counterfeiters. But nearly a week on, public frustration is growing amid continuing delays in dispensing replacement notes at banks and ATMs.\"\
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[http://time.com/4569379/india-currency-ban-cash-modi-effects/](http://time.com/4569379/india-currency-ban-cash-modi-effects/){target="_blank"}
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