Not entirely FUD id say but I do sense some vested interest maybe. barter is absolutely fine but when converting/selling to cash due precautions must be taken so as to not violate the law (since there are no laws currently foe btc specifically )
PS : Hey benson same ignore problem I spoke about earlier ... btcindia is now on my ignore list too .. not sure how this ignore thing works
Maybe when you ignore others get the same setting passed on or something ..or is it just happening with my profile dunno
Never seen anyone so right about my "vested interested".
Lol I must say you have a nice sense of humour to take it sportingly ... the reason I said that was because you seemes to be coming down on the post a bit harshly and more importantly also you asking him about BTC volumes about his business .. that seems like wanting to know more than what is usually neccessary .. thats why "vested interest" ... but I'm glad you took it sportingly, appreciate the spirit
Humor? I speak straigh from the heart. Sometimes its please other times harsh. Reason, why I highlighted those concerns is obvious. I'm myself worried about interpretation of laws for scope of accepting bitcoin for goods. I was expecting him to reply me back with some warrants(referring laws) justifying, Highcart can accept Bitcoin(
only if he engaged someone to guide him before jumping in quicksand of bitcoin). Seems like he's one man army. Well, I'd prefer to wait until my legal adviser reports me with feasibility of Bitcoin acceptance before going live with e-commerce. As far as spirit is concern, I regret my 'spirit of inquiry'.
P.S.: Products also matters. And his rates are not at all attractive. Someone must explain him, Bitcoin is gold and if you wish people to buy normal goods for gold then. You must plan accordingly. I'm never gonna buy those mediocre products with Bitcoin knowing btc value will probably be much more in future. Remember pizza case? Hope, I justified why I asked for BTC volume. I doubt Castle bloom so far served anyone for Bitcoin. Same will happen with Highkart.
BTCIndia you speak like an investor, and in investor speak you are absolutely correct, however you are also completely wrong. The only reason why BTC increases in value is, because of its intrinsic value to be used as a currency. not as an investment. If people will stop using BTC as a currency then BTC will become void, its value will drop like a rock and will actually hold the Tulip crash true.
Because BTC can be used as currency people buy it to be able to use it.
Highkart has put in a good number of work in his site design, and a lot of products which is a good thing (
Dont know about operation or warehousing or procurement strategies so can comment on it). If he manages his business properly and makes it convenient for people to buy from his site rather than flipkart or ebay, then he will make sure that Bitcoin in india will flourish, it will be one stepping stone for having more service and goods transact using bitcoin.
The more people uses bitcoin to do transaction, the more the value of Bitcoin goes higher.
I can give you examples of alot of thing where in people spent bitcoin on trivial things and now when you look at it, it may look like a waste. That is how the bitcoin economy works. It's not a traditional Inflationary economic, but rather the opposite. If i had kept all my bitcoin from the early day i could have retired by now, but i did not. Instead used the btc to promote its growth and buy thing i needed.
