Bitcoin in India? Not for a LOOOOONG time. - page 12.

kacak41

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Quote from: aardvark15 on March 02, 2016, 05:42:29 PM

My guess is that most people where I am (rural America) either haven't heard of bitcoin or have heard of it but don't really know what it is. It's probably the same all over the world.

That's true we are facing same problem everywhere, in my country people have heard about bitcoins but haven't used it, as they are not getting any guidance from the people who are using it, and we know that getting into bitcoins needs initial guidance and give proper knowledge related to bitcoins.

aardvark15

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My guess is that most people where I am (rural America) either haven't heard of bitcoin or have heard of it but don't really know what it is. It's probably the same all over the world.

kartaggen

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I am from India, and I don't see any major development in my country when it comes to bitcoins, people are just busy in using fiat and credit cards, and if we tell them about bitcoins, they just start laughing and say that these type of currency will not survive in future Angry

Indianacoin

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Actually the present scenario is that most Indians do not prefer to adopt virtual currencies where liquidity is the main reason behind its support.

I am from India and I have seen very few of my peers showed interest when I tried to explain them bout it in details.
They just call it "magic internet money" and start mocking me.

A few of them starts going deeper and when they hear about the recent controversies about bitcoin they tend to avoid the topic and start hoping for everything to settle down before reaching out again.

Overall, I guess the present generation is too ignorant about it. Lets wait and see what happens to the newer gen.

jokerrj

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I have a friend in India who is working with top IT company, but when I asked him about bitcoin, he was totally blank and that gave me idea that it will take long time for India to adopt bitcoins.

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Its because people in India don't believe in technology much rather than the human physical work. Now it seems more users are coming into it and started earning through bitcoin. But high profile traders are found in India than other countries.

panju1

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Quote from: Pattart on March 01, 2016, 12:23:37 AM

India is including a large country with a very high population. we need to spread the bitcoin in india. This is very important. for accelarate adoption

High population, but significantly poor.
They might bring in the numbers, but not necessarily the dollars/ruppees.

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Quote from: OROBTC on December 05, 2015, 10:06:35 PM

...

We are back from a long trip to India and Nepal. If wanted I can share pics with those interested.

I see that "not much" that I can see has happened in "Bitcoinistan" since I left.

I will mention that NO ONE has heard of Bitcoin save ONE person in our tour group (18 of us total).

Bitcoin may be BIG in China, but not in India (certainly not Nepal, now under a fuel embargo by India -- complicated).

India IS progressing faster than I woulod have guessed, they have seen the light re infrastructure (and other things to advance, you know, things like economic freedom, etc.) and of course a relatively tranquil democracy. But, BTC ain't ready for primetime there. Pity.

I play xbox live with a huge group of gamers mostly from America and not one of them had heard of bitcoin either got two of them hooked now after a long time explaining.

So this pretty much sums up everything that reinforces op`s statement.

If its not being aware in our own country like u.s then it will be less likely in another country. Esp when we have more u.s venture bitcoin start ups esp in the u.s it still has to penetrate here 1st.

most of the twitch audience heard of it, but wont go any deeper then the mt.gox incident pricing or being a scam.

pneumatic5

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Quote from: Pattart on March 01, 2016, 12:23:37 AM

India is including a large country with a very high population. we need to spread the bitcoin in india. This is very important. for accelarate adoption

Yeah, and even the small proportion of population adopts bitcoin then it can create a huge difference in overall users of bitcoin as the population is high it will add more value to the bitcoins.

Invulner

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Yes, because India has so many people to educate! Also, they have no need for BTC, unlike Chinese citizens which commonly use it to cashout their CNY.

India might have the same amount of people that know about Bitcoins compared to the USA, but the percentage might be only 1%-2% of the population.

Pattart

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India is including a large country with a very high population. we need to spread the bitcoin in india. This is very important. for accelarate adoption

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Quote from: Pollak on February 29, 2016, 09:29:09 AM

Quote from: bryant.coleman on December 09, 2015, 09:59:06 PM

Quote from: roadbits on December 08, 2015, 09:42:37 PM

Indian government will not allow bitcoins for so easily to use reason is simple they can't track the transactions and and also can't collect the taxes for these transactions. This was the reason even paypal is exit the India. Paypal didn't agree to pay the taxes for transactions so Indian government didn't allow them to operate in India. It looks like in near future may not happen any things but if bitcoins gain more popularity around the world than they may consider.

The current governor of the Reserve Bank of India (Raghuram Rajan) was the mastermind behind driving Paypal out of India. The Indian tax authorities are insane. They are going after middle-class and lower-middle class people, while allowing the high net worth individuals to engage in tax evasions. They have forcibly closed down many of the local bitcoin exchanges. Bitcoin-based businesses are not allowed to open bank accounts. The red tape and bureaucracy is just unbearable. Horrible country, horrible people.

I think it will happen fast. The world is becoming more digital and that is quite good. I hope that it will be more popular also.
And that more countries is going to use it. But you never know about the value. It is hard to predict.

I totally agree that till the politician are their bitcoin technology to india is very hard in every technology they want their profit, and in bitcoin they cannot control it and tax problem. Their are users of Bitcoin and you can see the so many traders are their in localbitcoin site who are mostly from india . So their are peoples who have knowledge and knew the potential of bitcoin. It will take time but we will see India also emerging in Bitcoin Technology very soon.

BTCBinary

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India is the worlds biggest democracy. There are a lot of cryptocurrency companies in india,
So I'm positive about the future of digital currencies in the country.

cjmoles

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Enlightening discussion here. What amazes me is that when I walk into my Engineering courses here in the US, the lecture halls are predominately filled with East Indian students. So, it is hard for me to wrap my mind around an India which is behind the curve technologically. If bitcoin is not prevalent in India now, I would have to assume that it will be soon. It's a new generation....a re-interpreted Moore's Law might be applicable when it comes to how fast technology will take hold in some of these places. When it comes to measuring value, I believe that an equity in education trumps an equity in capital and we will see a return on this investment in the very near future.

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Quote from: bryant.coleman on December 09, 2015, 09:59:06 PM

Quote from: roadbits on December 08, 2015, 09:42:37 PM

Indian government will not allow bitcoins for so easily to use reason is simple they can't track the transactions and and also can't collect the taxes for these transactions. This was the reason even paypal is exit the India. Paypal didn't agree to pay the taxes for transactions so Indian government didn't allow them to operate in India. It looks like in near future may not happen any things but if bitcoins gain more popularity around the world than they may consider.

The current governor of the Reserve Bank of India (Raghuram Rajan) was the mastermind behind driving Paypal out of India. The Indian tax authorities are insane. They are going after middle-class and lower-middle class people, while allowing the high net worth individuals to engage in tax evasions. They have forcibly closed down many of the local bitcoin exchanges. Bitcoin-based businesses are not allowed to open bank accounts. The red tape and bureaucracy is just unbearable. Horrible country, horrible people.

I think it will happen fast. The world is becoming more digital and that is quite good. I hope that it will be more popular also.
And that more countries is going to use it. But you never know about the value. It is hard to predict.

x13

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Things are called shit for a reason, dear.

Isn't indian population very young, is it? So, the most should have at least a cell phone. It is an unused potential. Probably, they just get to know about this great payment opportunity.

Quote from: spirit of btc on December 06, 2015, 02:29:00 AM

I am an Indian, Bitcoin is not that famous in India. People always prefer currency notes to cards, so having a mobile wallet is like far from reach. Only the younger generation is getting to know about bitcoin.

bryant.coleman

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Quote from: mrflibblehat on February 28, 2016, 11:51:35 AM

As long as they have internet they'll hear about bitcoin soon enough.

How many internet users are there in the world right now? I believe that the figure is somewhere around 3.0 billion and 3.5 billion. Now, how many of them have heard about Bitcoins? A few tens of millions, at the most. And now comes the difficult question. How many of them have used Bitcoins, at least once in their lives? The answer is less than 1 million. So out of 3,250 million internet users, we have 1 million who are using Bitcoins.

Having internet users doesn't mean that there will be a lot of Bitcoiners.

greBit

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Quote from: mrflibblehat on February 28, 2016, 11:51:35 AM

As long as they have internet they'll hear about bitcoin soon enough.

I have friends in India and they are aware of bitcoin and some of them do bitcoin trading as well, but when they try to explain it to others the other people thinks that these bitcoin users are trying to fool them since there were so many scams like this in the past but very soon you will see bitcoin trend in India as well.

mrflibblehat

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As long as they have internet they'll hear about bitcoin soon enough.

EdenHazard

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Quote from: OROBTC on December 05, 2015, 10:06:35 PM

...

We are back from a long trip to India and Nepal. If wanted I can share pics with those interested.

I see that "not much" that I can see has happened in "Bitcoinistan" since I left.

I will mention that NO ONE has heard of Bitcoin save ONE person in our tour group (18 of us total).

Bitcoin may be BIG in China, but not in India (certainly not Nepal, now under a fuel embargo by India -- complicated).

India IS progressing faster than I woulod have guessed, they have seen the light re infrastructure (and other things to advance, you know, things like economic freedom, etc.) and of course a relatively tranquil democracy. But, BTC ain't ready for primetime there. Pity.

yes i agree with that,i just find some people from india,and they also dont know much about bitcoin,the market is not high and busy,but we dont know what situation on this year in india,i hope they gonna more care about bitcoin like philiphine and indonesia.

Topic: Bitcoin in India? Not for a LOOOOONG time. - page 12. (Read 14727 times)