Topic: Anand Mahindra Hints at Bitcoin Payment for Mahindra Cars (Read 68 times)

True words. The govt isn't happy with anything that challenges their authority on the ecosystem, be it any party. RBI is also an extremely conservative organisation.

This precisely the point. RBI is completely against the use of Bitcoin and the current government on the other hand don't have a choice rather than accepting the trade of cryptocurrencies because the motto of a borderless currency is that it cannot be controlled and they are absolutely free from government intervention. But, to minimize the usage the government has imposed huge tax slabs which has faced severe backlash.

As a hardcore Bitcoin/digital asset maxi the end of INR/any fiat currency is what I wish for but this won't happen until the enthusiasts/exchange owners revolt against the government just like how the American or European counterpart does. The western and European users of bitcoin in general hate their country's fiat currency to the maximum but how many Indian bitcoin users are doing that? This clearly shows that, enthusiasts aren't increasing rapidly but the majority has been trading digital currencies only for their personal gain.

Coinbase has been slamming the SEC for over a month or so and this move would obviously be beneficial to the people of US because if once a clear rulebook has been put in place, more and more users of US would start using cryptocurrencies. But to the contrary, when Bitcoin was banned by the government back in 2018 the Indian exchanges ran away from the country and built their companies in various off-shore locations like the Middle East and Singapore instead of fighting the corrupt government

I don't think he is talking in terms of his consideration for it as a payments means. What I felt more is he is confident about the general acceptability that bitcoin might attain in coming years. Because if eventually bitcoin buyers become too many and they get that bargaining power in their hands eventually every company has to start it as a mode of payments. My personal aim also here is not that you could buy a car using bitcoin, it's about normalising the notion of buying things with bitcoin.

There's nothing to be excited about really! Mr. Mahindra has given a diplomatic answer because Bitcoin is still not recognized as a legal tender in India. So he can't give a straight answer on this matter. But I am sure Mr. Mahindra wouldn't do anything drastically different than what the rest of the businesses will be doing. Unless Bitcoin is accepted as a legal tender in India with a proper legal framework, no big businesses will accept cryptocurrency in any way! No one would bring the wrath of the government onto themselves.

Crypto has a long way to go in India, to be honest. The current government has no plan to make it a legal tender. Rather they will be more than happy to ban it. The looby of RBI is very strong in India and they will not allow crypto to become a legal tender till their last breath.

Yes, it might happen. They say they would and they say the cannot. What we need is people like him who show some interest about Bitcoin. There are multiple questions that he get asked everyday on Twitter but replying to this question makes it unique. Till tahn let's celebrate for a few days and not question it.

Nice! That part "bit by bit" does give a green signal. Which might be a false alarm 

It doesn't matter when he would make this dream a reality. What matters me most is that he quoted that question with a good reply.

I hope it happens! I seriously want India & the Indian government to come up with a concrete regulations. It won't help the Indian industry or the community by implementing a tax which is on the max.

Gemini exchange which is based in the US have already setup a development centre in Gurgaon because they know the talent pool available in India. They are also planning to expand their exchange business in our country.

Let's hope this development would make the government aware of the benefits of cryptocurrency.

I seriously like this part of the reply bit by bit. I won't be surprised if he actually goes ahead and starts accepting Bitcoin for Mahindra cars. This would be truly a step forward to make Indians realize Bitcoin has a lot of positive applications. We know how negativity has been fueled into the minds of Indians after 2017 about Bitcoin.

It would certainly take a few years until the government of India creates a regulatory framework. I assume it would happen after the 2024 election. What I like about this tweet is that a famous Indian entrepreneur knows the benefit of Bitcoin. This tweet also proves that big Indian entrepreneur are aware about the possible benefits of accepting Bitcoin as a payment.

A random Twitter user had asked Mr. Mahindra about buying Mahindra cars using Bitcoin. His reply has now gone viral among the Indian crypto community.



What do you guys think?

In my opinion, his response meant that he will consider Bitcoin as a payment in the future. Which is a positive development for the Bitcoin community in India.

There was a time when you could have bought any car in India using Bitcoin. I came across an article on Cartorq that was published in 2018 about a startup named Truebi (a used car marketplace) accepting Bitcoin as a payment option for buying a used car. I am not sure whether they still offer the same service.