BITCOIN DEMAND EXPLODE IN INDIA - page 3.

Yuuto

hero member

Activity: 644

Merit: 501

Quote from: BattalgiaTR on June 16, 2017, 01:51:33 AM

India is a potentially huge market for bitcoins, considering the population as well as the technical orientation and mentality allot of Indians have, it can be a very good place for BTC, even the issue with the government can probably be solved since BTC is much more open and decentralized than PayPal, even a ban won't work.

India is already a huge market for bitcoin. However the actual percentage of people that actually uses bitcoin compared to the entire population is absolutely miniscule and can be ignored.

Just like China India is a big market because the population is big and there is a lot internet marketers. There is a lot of people that is using bitcoin to avoid capital redtrictions and not a lot of people actually use bitcoin to trade for physical goods etc.

Hopefully this can be changed though.

BattalgiaTR

newbie

Activity: 53

Merit: 0

India is a potentially huge market for bitcoins, considering the population as well as the technical orientation and mentality allot of Indians have, it can be a very good place for BTC, even the issue with the government can probably be solved since BTC is much more open and decentralized than PayPal, even a ban won't work.

streazight

hero member

Activity: 910

Merit: 502

Quote from: Kprawn on June 12, 2017, 11:18:04 AM

Wow, when last did you hear a company saying.... STOP STOP, our systems cannot handle the traffic to our site and we have to apply limits to

slow down the sales, because we running out of stock. Roll Eyes

We are not going to allow international trades, so you just have to buy what we can

supply. Shocked

....Oh well, let's appreciate the fact that they are allowing this to happen in India now. Wink

Yeah this is good and we must appreciate it that in India the Bitcoin is doing well. The demand of the Bitcoin in India is increasing and the basic reason for this growing demand is that the Information Technology in India is on its boom. Also sooner or later but the Indian government is thinking upon to legalize the Bitcoin in India and for this reason they have started working on it as well.

Junko

legendary

Activity: 1512

Merit: 1000

Hey, every country has to start somewhere. I'd say this is a pretty decent start. If bitcoin can flourish, I'm highly optimistic about the prospects given India's population.

Vishnu.Reang

sr. member

Activity: 1988

Merit: 453

The shadow (grey) economy is huge in India, and here Bitcoin can become quite useful. Even during the recent demonetization exercise, a lot of people were showing interest in Bitcoin and the other crypto-currencies. And now with the tax authorities cracking down on real estate and bullion sectors, people are running out of options to store their unaccounted money. Bitcoin is one of the few remaining options.

maku

legendary

Activity: 1288

Merit: 1000

India will soon have even more impact on bitcoin economy - Reserve Bank of India and Ministry of Finance is 'Watching and learning about the development of Bitcoin".
Next year bitcoin might be fully legalized asset in India as it is 2nd most populated country in the world - it will open huge market for bitcoin.

More info: https://news.bitcoin.com/indias-government-may-be-preparing-to-legalize-and-regulate-bitcoin/

Baofeng

legendary

Activity: 2576

Merit: 1655

Quote from: itsallpc on June 12, 2017, 11:47:28 AM

We could see that already indians are late to bitcoin world when compared to chinese.China being dominant in bitcoin mining and india,neighbour country of china has almost 95% of whole population who don't even know about bitcoin.But now day to day progress in india is good to see and definitely it would help for the bitcoin progress.So,we could surely expect another spike in prices soon.

I don't think that India is late with regards to bitcoin involvement. I think the problems lies with their government having a crackdown on bitcoin user there. Remember, India has demonetized because they want to clean their money system. So I believed that a lot of Indians has turned to bitcoin to store their money. Its that how the government has been acting against the used of bitcoin in their country.

itsallpc

full member

Activity: 196

Merit: 100

We could see that already indians are late to bitcoin world when compared to chinese.China being dominant in bitcoin mining and india,neighbour country of china has almost 95% of whole population who don't even know about bitcoin.But now day to day progress in india is good to see and definitely it would help for the bitcoin progress.So,we could surely expect another spike in prices soon.

bitbunnny

legendary

Activity: 2912

Merit: 1068

WOLF.BET - Provably Fair Crypto Casino

India was always good field for Bitcoins, let's say so, and there are always been many people interested in Bitcoins so this is actualy nothing new. And I beleive similar situation is in many big and poor countries because people often see Bitcoin as way out from poverty although we have witnessed many users from India involved in scam scheems.

Kemarit

legendary

Activity: 3080

Merit: 1353

This is just a small percentage and not making a dent of the huge population on India. Plus I believed that a lot of our Indian brothers are already into bitcoin and this news is nothing really new. And there are still a civil war regarding the legality of bitcoin usage in their, Indian's parliament is against bitcoin, because they believed is in used in Ponzi and a lot of illegal ways. So we still have to wait what will be the decision is before we can really say that bitcoin will really "explode" in India.

zedsacs

sr. member

Activity: 322

Merit: 250

Wow 500,000 new regular users is such a blast! I mean, with that demand, the price also would explode, because if the demand is high, the price would rise too. And it's good to see that at least there are more and more people trying to explore thr world of bitcoin. Such a good news tho.

Kprawn

legendary

Activity: 1904

Merit: 1074

Wow, when last did you hear a company saying.... STOP STOP, our systems cannot handle the traffic to our site and we have to apply limits to

slow down the sales, because we running out of stock. Roll Eyes

We are not going to allow international trades, so you just have to buy what we can

supply. Shocked

....Oh well, let's appreciate the fact that they are allowing this to happen in India now. Wink

elite3000

legendary

Activity: 1073

Merit: 1000

Quote from: stompix on June 12, 2017, 10:04:19 AM

So the whole China will make bitcoin great again mirage is gone let's search for another El Dorado.
India...

Yeah 500 000 downloads. The number doesn't mean shift.
Let's see the number of users.
And after the number of users let's see the numbers of poeple buying.
And .. yeah it's getting funny after all this let's see how much in terms of BTC they have bought.

You can have 100 000 buyers but if they all come to 5$ in their pocket, I would prefer 10 guys with 1 million to spare.

Show me the trading volume, not inflated stories.
We know hoe the Chinese volume and usage was faked for years.

I'm not going to stay and listen to the same story about every damn country on this planet.

Quote from: apoorvlathey on June 12, 2017, 09:48:33 AM

[1]:http://www.indiabitcoin.com/bitcoin-for-education-indian-mountain-school-accepts-bitcoin-donations-cointelegraph/

Story from FEB 04, 2015

Old story, uh?

How are things going today?

I think lots happened since them with new regulations being proposed and all the stuff?

stompix

legendary

Activity: 2912

Merit: 6403

Blackjack.fun

So the whole China will make bitcoin great again mirage is gone let's search for another El Dorado.
India...

Yeah 500 000 downloads. The number doesn't mean shift.
Let's see the number of users.
And after the number of users let's see the numbers of poeple buying.
And .. yeah it's getting funny after all this let's see how much in terms of BTC they have bought.

You can have 100 000 buyers but if they all come to 5$ in their pocket, I would prefer 10 guys with 1 million to spare.

Show me the trading volume, not inflated stories.
We know hoe the Chinese volume and usage was faked for years.

I'm not going to stay and listen to the same story about every damn country on this planet.

Quote from: apoorvlathey on June 12, 2017, 09:48:33 AM

[1]:http://www.indiabitcoin.com/bitcoin-for-education-indian-mountain-school-accepts-bitcoin-donations-cointelegraph/

Story from FEB 04, 2015

jtipt

hero member

Activity: 1050

Merit: 529

Quote from: klf on May 29, 2017, 12:18:06 AM

But the growth is not so much high compared to the current population India has now. Also, all these 2500 people may not be buying directly bitcoins because of a current high market price. Number downloads will not tell us the growth but how much bitcoin they turnover every day will give us the more accurate data. Unless government regulate bitcoins, the bitcoin growth in India will not go high.

You are correct to some extent, yes it's true that compared the overall population 500,000 downloads is nothing. But just consider this out the whole population only a fraction of it is privileged enough to even think about Bitcoin in India, so considering that this is a good adoption rate of bitcoin in India.

apoorvlathey

hero member

Activity: 1162

Merit: 547

CryptoTalk.Org - Get Paid for every Post!

Yes, the demand for bitcoin is increasing slowly as more and more people are getting aware of this technology with its increasing price. You can find many users online using bitcoins, but it is hard to find bitcoiners in the locality.
Even a school has started accepting bitcoin as a mode of donation^[1] . Though I still look forward to see some big stores accepting bitcoins, bitcoin atm's, etc. I don't know if any of the physical stores have started using it. Long way to go!

[1]:http://www.indiabitcoin.com/bitcoin-for-education-indian-mountain-school-accepts-bitcoin-donations-cointelegraph/

iamTom123

hero member

Activity: 490

Merit: 501

Quote from: PhoenixWarrior333 on May 28, 2017, 10:29:21 PM

I wonder how many Bitcoins will be gone forever with the amount of Accidents & Deaths in India each day, anyone could be holding for life.... at least it increases value just like satoshi's untouched 1 Million BTC Cheesy

That can happen anytime since we will all die anyway but I don't think this factor alone can significantly affect Bitcoin. However, I find it a little bit funny reading your reply here because of all things you can think of it is death you zero in. But as what I said it is quite legit and realistic.

As for India, the market here is huge and once the current government can finally laid down the template for recognizing Bitcoin especially for taxation and consumer protection purposes, this market can really explode like a volcano primarily because of its population. Combining China and India can mean something so huge for Bitcoin.

Raxitto

sr. member

Activity: 420

Merit: 250

India can legalize Bitcoin in the near future, as feedback from citizens and companies seems to support the regulation of digital currencies.
Government of India asks the public about regulation.
The online comment section, which has been running for 10 days, has received almost 4,000 submissions since it was released on May 21.
The areas researched are: whether digital coins should be banned, regulated or observed. If they are regulated then what measures should be taken to ensure consumer protection, promote development and also which institution should monitor and regulate them?
He also asked what would be the effective self-regulation mechanisms and the methods that should be adopted to ensure consumer protection in these scenarios.

Spoetnik

legendary

Activity: 1540

Merit: 1011

FUD Philanthropist™

Quote from: jamesqy on May 29, 2017, 01:40:05 AM

Wow this is really a great new. India has such a huge population, even one potential user out of a thousand people would be a large number.

How long until we have conspiracies about India ?
We all heard all kinds of shit about China + crypto..

ivanst776

legendary

Activity: 1540

Merit: 1003

There's no like button in forum but I like this post, and we should not underestimate the indian people because I think they are smart and a lot of them work remotely for the rest of the world especially U.S.

I think that India can push the bitcoin price further and it's quite interesting how the bitcoin price reached $3.5k there.

500k active users i think is a lot comparing to the overall India population which is around 1.4 billion people.

Topic: BITCOIN DEMAND EXPLODE IN INDIA - page 3. (Read 3392 times)