Topic: Bitcoin in India - page 2. (Read 10471 times)

It is nice to hear that the progress of bitcoin adoption in india is going in full force and the exchanges are getting heavy traffic of new users but until government dont give any clarification on bitcoin it cannot flourish more.

In developing countries like India, only 41% have banks with 89% in developed countries. Most people in developing countries will never experience modern modern forms developed by developed countries, and any change to this requires a gradual change to ensure efficient distribution. But with Bitcoin, people in developing countries now have the opportunity to pass through the current infrastructure, and move toward a decentralized financial system.

India is regarded as the perfect place for Bitcoin adoption because of the public attitudes towards their current financial system. The new info here is currently undergoing an aggressive period of demetization, in which residents change their banknotes to banks, so they can be expelled from the money supply.

Demonetization in India this country is experiencing an increase in demand for Bitcoin because it believes more new systems that are far from the control of government and banks, that is with a digital system.

Even on July 2, 2015, Indian President Narendra Modi announced his digital reform plan called Digital India. This campaign is available to create internet services in Indonesia, improve digital infrastructure in Indonesia, and increase internet connectivity in the country. The main goal of Digital India as well as to empower technology in India to help Bitcoin's positive view at government level.

In the past few months, many have speculated that India will legitimize Bitcoin like Japan. The rise of Bitcoin growth in India has not escaped the attention of the government, especially the Indian finance minister, Arun Jaitley. According to local reports, Jaitley has held inter-ministerial meetings to discuss matters related to digital currency. The meeting was attended by several prominent figures from the Indian parliament. After the meeting, Jaitley made a statement that highlights an in-depth report on Bitcoin, which will be released this July and will explain Bitcoin's vision.

India Won’t Introduce a Central Bank Digital Currency for Now. India will prove to be a very interesting country when it comes to regulating cryptocurrency. Recently, there has been talk of issuing a national digital currency, but it seems that may not happen in the end. This doesn’t clarify the current regulatory outlook for Bitcoin and altcoins all that much, though. For now, it does not appear we will see the creation of Lakshmi anytime soon, although those plans have not been put on ice indefinitely either. https://themerkle.com/india-will-not-receive-a-central-bank-digital-currency-for-the-time-being/

India is a very large country, however, the level of development in this country is not uniform, some places are extremely rich, but in contrast, some places are very poor, people can not even access to the internet, that's why bitcoin does not grow here.

Not sure what you mean by this. India is predicted to grow to a larger population than China in the coming future. Furthermore, China I'd say is a lot more closed of to external forces (especially western ideals and strategies) as they have been in the entire past. India definitely has a lot to do in terms of becoming a much more well developed country, but I don't believe that India is very far off from China.

Of course yes bitcoin will be grow more in the world not on India only, due to the popularity of bitcoin is growth up, bitcoin is considered as new currency and digital asset, many users around the world will addopt the bitcoin on their part of investment even the Wall Street (stocks markets) wants to formally jump into Bitcoin waters https://t.co/duONTzNHtR it is nice news and it is just about the time of the growing up of bitcoin.

i am sure it will be grow more and more if nothing bad comes from govt or rbi side then btc will be huge here in few months .I am thinking to use btc as payment option on my shop 

India’s Bitcoin Boom: Zebpay Forecasts 500k New Users Monthly in 2018; Hits 1 Million App Downloads. It is awsome bitcoin in India
Indian bitcoin wallet and exchange platform Zebpay strikes a million downloads of its app-only service on Android and forecasts half a million new users a month, up from 200,000 currently.
Launched in 2015, bitcoin startup Zebpay is now among India’s major bitcoin exchanges alongside Unocoin and Coinsecure. Unlike its competitors, Zebpay has adopted an app-only model in a country where mobile tariffs are among the cheapest in the world with a soaring adoption rate of smartphones. https://www.cryptocoinsnews.com/indias-bitcoin-boom-zebpay-forecasts-500k-new-users-monthly-2018-hits-1-million-app-downloads/

That's true many Indians are aware about bitcoin and they are successfully earning from it but the fact is only youth is aware about it and it will take time to reach to each and everyone.

bitcon in indea is so much popular. i personally know so many people from india who are doing trading in bitcoin.i also know such kind of people who are investing their money in bitcoin. so many indians are also earning form signature campaign.

There are so many Indian using bitcoin and there are some website to spend bitcoin in India, bu they are mostly underground.

I know Indian Government is not bothered about bitcoin as of now. But if they start bothering, a crackdown will be arranged by SEBI.

So it is wise to hide your ass from the beginning.

india is not open to the world

like china

they are a small country


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Morelike what has gambling to do with Bitcoin adoption in any country ? Not like majority of people like to double their money playing risky games.Also its not a fact ,people who loved to gamble ,gamble either way ,with bitcoins or without bitcoins,bitcoins just made a easy way out.

In every country, different people with different interests, bitcoins is not trend in India right now, but with time more and more people will start using bitcoin.

They gamble trading on the exchanges. There are no Chinese Bitcoin gambling sites. No doubt Chinese folks go to foreign gambling sites.

That is much appreciated but it is not as easy as it seems.Bitcoin in India will take a lot of time to bloom compared to other Asian countries.Assuming we have good tech savvy crowd here,we have fair chances though.

No need to worry about bitcoin in india,they completly good country with good potential for bitcoin adoption,just like another asian countries,india also have good place and people to make bitcoin have more users,and i see some users from india come up to this thread and explain anything,good luck for bitcoin in india.

Not true. Miners do not need to run full node. Only pool operator does. And there is no pool in India. Many big exchanges run on BitGo or BlockCypher API. So, for exchanges also full node is not a requirement. In fact, right now there are 2 real time exchanges, 1 shop, 1 app and 1 block explorer in India. But, as u can see, there are 4 nodes only. Even if someone runs a full node for business, he'll most likely put it up on VPS instead of running it from office/home.

What are u talking about? Gambling is one of the biggest industry where bitcoin finds its adoption.

In India, bitcoin finds big adoption among online freelancers.

What does any of it has to do with bitcoin? India has good scientists and rich people ,buying gold is part of the tradition and so is getting a college degree. Government has taken initiatives to make the space program happen.Btw if you ask an average Indian ,the name of India's space organisation(ISRO) I bet they can't answer.Why ? People barely care about stuff that doesn't matter directly to them.Its in their blood.

That's correct but don't think westerners cause a massive impact on people's POV.Fact is,the tech savvy,geeks and IT folks will use bitcoins but other than that its very hard to convince people to do something different.They don't want to be called out of their comfort zones.

Just watch me, baby. I'm sure a country that has a space program and is one of the largest buyers of consumer gold should be showing a hint of interest in Bitcoin.

Let's assume 25 million have a standard of living that a Westerner would start to recognise. That's still more than the population of the Netherlands.