Bitcoin in India - page 3. | Bitcointalksearch.org

gentlemand

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Quote from: newIndia on June 01, 2016, 02:08:23 PM

I dont think number of full nodes signify anything about adoption. There are 122 Chinese full nodes as opposed to 290 of UK. But, Chinese volume (which can be treated as a parameter of adoption) is far far higher than that of UK.

I think it's a reasonable metric. I assume you can't mine without a full node and you'd be a bit insane to run an exchange without one.

Neither the UK or China have much real adoption. China has zero utility other than exchange gambling and mining. The UK has hardly any businesses accepting and no proper exchange.

So let's look at a country which does have a hint of real adoption such as the Netherlands. There are 329 nodes there.

Joel_Jantsen

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Quote from: gentlemand on June 01, 2016, 02:01:50 PM

I don't really get the lack of India action either. Right now there are 4 full nodes in India. That's one per 300 million. Bulgaria has 10 times more. Pull yer fuckin fingers out.

That doesn't matter.Do you even know what are the primary problems of India ? Most of the people around don't know how to access Internet or say have no Internet services in their area.Well Internet is too far fetched,people don't have fuckin toilets so your ideology of running full nodes in ratio to the population should be keeping to yourself.You can't compare Bulgaria to India for 100 other reasons you haven't mentioned.

Quote from: quentincole32 on June 01, 2016, 02:11:49 PM

yes we know,i have some india friends on social media,and they look like not talk about bitcoin,and i wonder is there any indians people comment on this thread?so we can directly know what and how bitcoin develop on Bollywood country.

I'm from India and stop using Bollywood to portray your thoughts,it is shit.There are a lot of bitcoin users in India but that's nothing compared to the amount of people using Banks or other online payments.

quentincole32

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Quote from: PacePay on June 01, 2016, 12:28:23 PM

I have also seen a lot of Indian very active in online world, but one thing I have noticed they are more oriented towards USD and are less interested in crypto currency, but still a little number of Indians who are active on bitcoin are earning a big amount of it.

yes we know,i have some india friends on social media,and they look like not talk about bitcoin,and i wonder is there any indians people comment on this thread?so we can directly know what and how bitcoin develop on Bollywood country.

newIndia

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Quote from: gentlemand on June 01, 2016, 02:01:50 PM

I don't really get the lack of India action either. Right now there are 4 full nodes in India. That's one per 300 million. Bulgaria has 10 times more. Pull yer fuckin fingers out.

I dont think number of full nodes signify anything about adoption. There are 122 Chinese full nodes as opposed to 290 of UK. But, Chinese volume (which can be treated as a parameter of adoption) is far far higher than that of UK.

gentlemand

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Quote from: yayayo on May 17, 2016, 05:17:40 PM

The lack of adoption in India might be similar to the lack of adoption in Venezuela. It's not about the skills of the people or if they are tech-savvy or not. I think it's mainly an acquisition problem: Everybody wants Bitcoin, but nobody wants inflationary Rupees / Pesos. So, who will sell Bitcoin to the people there?

As long as you have to pay your taxes and bills in inflationary toilet paper there's always going to be a need to sell coins for it.

I don't really get the lack of India action either. Right now there are 4 full nodes in India. That's one per 300 million. Bulgaria has 10 times more. Pull yer fuckin fingers out.

PacePay

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I have also seen a lot of Indian very active in online world, but one thing I have noticed they are more oriented towards USD and are less interested in crypto currency, but still a little number of Indians who are active on bitcoin are earning a big amount of it.

Divinespark

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My guess is that there may be as many as 50k holders of BTC in India. Admittedly, most are young folks with relatively tiny holdings but it's still early days. BTC is getting a lot more PR in India these days.

quintiilieo

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I guess this article is far way to old but the reality is india is one of the heavy users of bitcoin. Lot of bitcoin circling there country as of now because i think they have so many programmers hackers gamblers so they use the bitcoin to become untraceable and also with tax because bitcoin is tax free and easy to use just send someone a bitcoin and it will receive instantly.

JumperX

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Quote from: CoinManiac1 on May 18, 2016, 11:14:00 AM

To be mainstream, it will take time... Where I work, hardly 1 or 2 people about bitcoin. That too, they said they read in a paper..

I am lucky to know about bitcoin when way back in 2013, I read about the Silk Road Market....

Yeah even my friends are not aware about bitcoin, and the worst thing is that they are employed in top IT companies and still they have not heard about bitcoin yet.

CoinManiac1

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To be mainstream, it will take time... Where I work, hardly 1 or 2 people about bitcoin. That too, they said they read in a paper..

I am lucky to know about bitcoin when way back in 2013, I read about the Silk Road Market....

BitcoinBabbler

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Ah, It will gain movement in time... However, people in India are not well versed with cryptocurrency and its benefits...

In India, cryptocurrency will face a stiff competition owing to the numerous pocket banks available such as PayTm, Freecharge, PayUMoney, Etc, that does the work of micropayments...

GermanFoobla

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Quote from: ElpadroBitcoin on May 17, 2016, 02:48:39 AM

That's not really strange that there are not many bitcoins users in india. That's because there is no good internet
connection and there are not enough Indians who use bank accounts so they can't get any coins.

Yeah Bitcoin is becoming more popular so it is normal for people in India to make use of Bitcoins. India also lies in Asian, that is where the most Bitcoin users are from.

Wapinter

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Quote from: minorman on June 11, 2012, 01:36:15 PM

Open question:

Why has Bitcoin so far gotten zero traction in India?

Some thoughts...
---
- India has more programmers/computer people than the rest of the world combined.
- People in India love tangible assets (gold/silver)
- The Rupee is crashing and the gold price has just hit an all time high in Rupees.
- > 10⁸ people in India have no bank account or otherwise access to financial services.
- Millions of Indians live outside India and send money to/from relatives in India.
- Unlike China, India has no "great firewall".

---

Last week, many Bitcoiners got very excited that the turnover on the Chinese Bitcoin exchange spiked for a few days. Why? Because there are a lot of potential Bitcoiners in China, of course.
But India does not even have a Bitcoin exchange of its own! Why not?

You can add illiteracy to the list too.I think low literacy is also one of the of the reasons why Indians are lagging behind in bitcoin adoption

opossum

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Bitcoin is getting popular in India and many people are using it too, its just a matter of time and there will be huge user adoption in future.

yayayo

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The lack of adoption in India might be similar to the lack of adoption in Venezuela. It's not about the skills of the people or if they are tech-savvy or not. I think it's mainly an acquisition problem: Everybody wants Bitcoin, but nobody wants inflationary Rupees / Pesos. So, who will sell Bitcoin to the people there?

Another reason could be that people can't use it to buy goods they need and a lot of people (of cause not all) in India / Venezuela might have not enough money to play around with cryptocurrencies - they need the funds to survive.

ya.ya.yo!

toy4lov3rs

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Quote from: yenxz on May 17, 2016, 02:07:22 PM

Quote from: istar on June 11, 2012, 01:44:51 PM

I have seen some India investors looking at Bitcoin...Its only a matter of time.

yes that's right,i ever chat with people fromindia,and he was bitcoin holder,and want to earn bitcoin from any task,if india still have problem with bitcoin,i think its just matter of time,soon they will stand same with Philipine or indonesia,or maybe china.

Yeah India is a strong country and really on developing stage, and I think many people are aware about bitcoin and they are using it too.

yenxz

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Quote from: istar on June 11, 2012, 01:44:51 PM

I have seen some India investors looking at Bitcoin...Its only a matter of time.

yes that's right,i ever chat with people fromindia,and he was bitcoin holder,and want to earn bitcoin from any task,if india still have problem with bitcoin,i think its just matter of time,soon they will stand same with Philipine or indonesia,or maybe china.

jak3

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i am from india and i dont agree with the point that many indians dont have a bank account i will say that all mostly 99% of us have bank accounts but i think thats the main problem for our slow growth. peoples here just trust banks but very less humans do any kind of busness related stuffs. some what like 10-20% indians from the total. its really week but still i am happy that we are building our networks day by day

Corenin

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Quote from: raphma on May 17, 2016, 01:30:13 PM

Quote from: fkvidar on May 17, 2016, 09:27:55 AM

Quote from: ElpadroBitcoin on May 17, 2016, 02:48:39 AM

That's not really strange that there are not many bitcoins users in india. That's because there is no good internet
connection and there are not enough Indians who use bank accounts so they can't get any coins.

No I don't think so, Internet is not an major issue in India now, it is accessible everywhere, no doubt its expensive in compare to other countries, but youth of the country are using bitcoin and I am one of them.

but india have cheap energy right? so at least for mining it would be a great place with a nice profit.
I think it's just matter of time to bitcoin catch in india, and they might be the next china.

Yeah India is really developing fast and there is best opportunity for bitcoin, even if small portion of population starts using bitcoin then it will add more value to user adoption.

raphma

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Quote from: fkvidar on May 17, 2016, 09:27:55 AM

Quote from: ElpadroBitcoin on May 17, 2016, 02:48:39 AM

That's not really strange that there are not many bitcoins users in india. That's because there is no good internet
connection and there are not enough Indians who use bank accounts so they can't get any coins.

No I don't think so, Internet is not an major issue in India now, it is accessible everywhere, no doubt its expensive in compare to other countries, but youth of the country are using bitcoin and I am one of them.

but india have cheap energy right? so at least for mining it would be a great place with a nice profit.
I think it's just matter of time to bitcoin catch in india, and they might be the next china.

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