Topic: Bitcoin in India? Not for a LOOOOONG time. - page 13. (Read 14697 times)
If bitcoin having more adoption like in china, imo india might be the worst economical country. Because of black money and corruption.
...
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.
that's true,india is not china,they have some different,excatly on economic condition,but i think india is also have strength to move like china on future.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.
lets see some years again,i'm sure Asian country will chasing china soon.
It's a pity since that's a huge market out there that could cause a new price surge.
Are there already any Bitcoin related start-ups in India that any of you know of?
Are there already any Bitcoin related start-ups in India that any of you know of?
there are startups in banglore related to bitcoin. if my guess is right the mod benson has a start up company in banglore. bitcoin is not at all popular in here thats a sad thing. but time will come pretty soon. E commerce is a big thing here in india. once they start accepting bitcoin then these figures will change for sure
I am a regular visitor to India (especially to Delhi, and Kerala). Although there are not many shops which accept BTC in these regions, you can easily convert your BTC to fiat cash (INR), at low premiums. In Delhi itself, there are dozens, if not hundreds of traders who trade Bitcoins for fiat cash. Use Localbitcoins to get in touch with these guys.
Yup Even I have some colleagues who is from India, So many people not aware of bitcoins. But who are all working in bitcoin they are very clever and they are doing trading also through localbitcoins.com and btcindia. Except Amazon India and Ebay India none of the Online shops are accepting as I got info from my friend.There are many competent software programmers in India. Hotmail was originated from India. One day India will be the forefront of bitcoin related business.
I wishing you a great success for you guys. People from Europe also welcoming guys who are all with good talent. Many people not seeing race, or anything. Some people are there. leave them as it is. Have a great success in BTC also In your country.
There sure do seem to be what look like warring factions in India re Bitcoin. Some of what I saw (first-time visitor, and as a tourist) made me think that they might have a shot at superpower-dome...
But, cracking down on future-oriented technologies is not wise.
And, yes, I know that India has always been very bad re bureaucracies. That will hurt them. Slow them down.
But, cracking down on future-oriented technologies is not wise.
And, yes, I know that India has always been very bad re bureaucracies. That will hurt them. Slow them down.
Warring factions in India?
What exactly are you referring to in relation to Bitcoin?
Potential users of Bitcoin vs. government (particularly tax authorities there). Tech vs. Indian .gov. Lots of factions in India with differing agendas...
bryant.coleman knows more about India & tech than I do. But, their .gov cracking down on BTC, exchanges, and just their CAPITAL CONTROLS will slow India down.
Can you buy anything in/from India yet with BTC? You can buy gold with BTC here in the USA...
...
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.
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.
And whys that any difference than in the west? i live in the UK and i would say that i only have 1 friend out of many who has ever heard of bitcoin. it hasnt takeoff yet anywhere in the world, yes there is a few million people who have it, have heard off it and use it but that i still a very small minority. mass adoption wont happen untill the big banks and corperations come on board and promote it. and they aint there yet, they are still in the attack it stage. but once they relize that bitcoin is here to stay and that no matter what they do to stop it they lose. then we will see mass adoption.
There sure do seem to be what look like warring factions in India re Bitcoin. Some of what I saw (first-time visitor, and as a tourist) made me think that they might have a shot at superpower-dome...
But, cracking down on future-oriented technologies is not wise.
And, yes, I know that India has always been very bad re bureaucracies. That will hurt them. Slow them down.
But, cracking down on future-oriented technologies is not wise.
And, yes, I know that India has always been very bad re bureaucracies. That will hurt them. Slow them down.
Warring factions in India?
What exactly are you referring to in relation to Bitcoin?
Well you have to make sure there are people willing to work for cheap some how.
However I am not entirely convinced that the government has gone and shut down all the exchanges, especially when looking at the localbitcoins charts.
In every country so far, on localbitcoins, the volumes have been surging when you compare it to recently. That's one of the beauties of Bitcoin, there is literally no way to shut it down unless you shut down the internet.
However I am not entirely convinced that the government has gone and shut down all the exchanges, especially when looking at the localbitcoins charts.
In every country so far, on localbitcoins, the volumes have been surging when you compare it to recently. That's one of the beauties of Bitcoin, there is literally no way to shut it down unless you shut down the internet.
Well... there is no de jure ban against Bitcoin exchanges in India, but definitely there is a de facto ban. Most of the local exchanges have seen raids by the tax authorities, and none of the banks will work with them. So far, foreign exchanges such as Localbitcoins and Bitfinex are not affected, but I am not sure for how long this situation will remain as such.
There sure do seem to be what look like warring factions in India re Bitcoin. Some of what I saw (first-time visitor, and as a tourist) made me think that they might have a shot at superpower-dome...
But, cracking down on future-oriented technologies is not wise.
And, yes, I know that India has always been very bad re bureaucracies. That will hurt them. Slow them down.
Well you have to make sure there are people willing to work for cheap some how.
However I am not entirely convinced that the government has gone and shut down all the exchanges, especially when looking at the localbitcoins charts.
In every country so far, on localbitcoins, the volumes have been surging when you compare it to recently. That's one of the beauties of Bitcoin, there is literally no way to shut it down unless you shut down the internet.
However I am not entirely convinced that the government has gone and shut down all the exchanges, especially when looking at the localbitcoins charts.
In every country so far, on localbitcoins, the volumes have been surging when you compare it to recently. That's one of the beauties of Bitcoin, there is literally no way to shut it down unless you shut down the internet.
Well... there is no de jure ban against Bitcoin exchanges in India, but definitely there is a de facto ban. Most of the local exchanges have seen raids by the tax authorities, and none of the banks will work with them. So far, foreign exchanges such as Localbitcoins and Bitfinex are not affected, but I am not sure for how long this situation will remain as such.
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.
However I am not entirely convinced that the government has gone and shut down all the exchanges, especially when looking at the localbitcoins charts.
In every country so far, on localbitcoins, the volumes have been surging when you compare it to recently. That's one of the beauties of Bitcoin, there is literally no way to shut it down unless you shut down the internet.
They have forcibly closed down many of the local bitcoin exchanges. Bitcoin-based businesses are not allowed to open bank accounts.
Nope, none of that is true.
You shouldn't believe everything you read on the net.
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.
India is continent,mostly agriculture,No internet infrastructure in many places.His just created middle class is very small.Bitcoin may grow in India if westerness will pay with btc to his outsourcing India workers.
Nepal,forget,no internet and now it is one big catasrophe
Nepal,forget,no internet and now it is one big catasrophe
I'm not surprised that Bitcoin won't be widely used in India for a long time, it is a fairly niche market and there aren't many people that own an internet-connected device, based on what I know. It will be even harder for people to be able to use the Bitcoin in their local shops.
If India was a bit more like China it would be more likely to see Bitcoin in India sometime soon, but there simply aren't enough phones or people willing to purchase phones in India that would be willing to learn or use Bitcoin.
If India was a bit more like China it would be more likely to see Bitcoin in India sometime soon, but there simply aren't enough phones or people willing to purchase phones in India that would be willing to learn or use Bitcoin.
I am a regular visitor to India (especially to Delhi, and Kerala). Although there are not many shops which accept BTC in these regions, you can easily convert your BTC to fiat cash (INR), at low premiums. In Delhi itself, there are dozens, if not hundreds of traders who trade Bitcoins for fiat cash. Use Localbitcoins to get in touch with these guys.
Yup Even I have some colleagues who is from India, So many people not aware of bitcoins. But who are all working in bitcoin they are very clever and they are doing trading also through localbitcoins.com and btcindia. Except Amazon India and Ebay India none of the Online shops are accepting as I got info from my friend.There are many competent software programmers in India. Hotmail was originated from India. One day India will be the forefront of bitcoin related business.
The question is not whether any Bitcoin related business will come up from India, but how Bitcoin adoption will be in India.
You may have competent programmers, but that alone cannot take Bitcoin to the masses.
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.
Ahh, roadbits raises and important point re India (same thought for Nepal as well). Capital Controls. It is very hard to get any excess rupees changed back into dollars without a receipt showing the original rupee purchase.
If their .gov can't control the money, they will likely NOT be benevolent to Bitcoin.
* * *
n2004al
I do not disagree with you re India. We were there as TOURISTS with a tour group (Americans).
We did see quite a cross-section of India and her citizens just in the 18 or so days we were there (3 more in Nepal). YES, they are patient and pleasant people. Very polite. Seemed non-violent, I did not feel danger even in old towns (eg Delhi). Multi-lingual in many cases.
India may have a great future (parts of New Delhi hinted at that). But things can go wrong in places like India, nothing is written in stone.
Wait, I don't really know much about the current state of affairs with Bitcoin and India's government in general... But is there no current exchange offered to the Indian people to be able to exchange bitcoins for the current price in rupees? Is the monetary system so controlled by the government where there is no exchange rate for Indians to deal with Bitcoin in terms of their own denomination? If not this would make India the fore front of bitcoins struggle with mass adoption because India is such a huge country that hasn't been tapped into.
I am a regular visitor to India (especially to Delhi, and Kerala). Although there are not many shops which accept BTC in these regions, you can easily convert your BTC to fiat cash (INR), at low premiums. In Delhi itself, there are dozens, if not hundreds of traders who trade Bitcoins for fiat cash. Use Localbitcoins to get in touch with these guys.
Yup Even I have some colleagues who is from India, So many people not aware of bitcoins. But who are all working in bitcoin they are very clever and they are doing trading also through localbitcoins.com and btcindia. Except Amazon India and Ebay India none of the Online shops are accepting as I got info from my friend.There are many competent software programmers in India. Hotmail was originated from India. One day India will be the forefront of bitcoin related business.
The question is not whether any Bitcoin related business will come up from India, but how Bitcoin adoption will be in India.
You may have competent programmers, but that alone cannot take Bitcoin to the masses.
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.
Ahh, roadbits raises and important point re India (same thought for Nepal as well). Capital Controls. It is very hard to get any excess rupees changed back into dollars without a receipt showing the original rupee purchase.
If their .gov can't control the money, they will likely NOT be benevolent to Bitcoin.
* * *
n2004al
I do not disagree with you re India. We were there as TOURISTS with a tour group (Americans).
We did see quite a cross-section of India and her citizens just in the 18 or so days we were there (3 more in Nepal). YES, they are patient and pleasant people. Very polite. Seemed non-violent, I did not feel danger even in old towns (eg Delhi). Multi-lingual in many cases.
India may have a great future (parts of New Delhi hinted at that). But things can go wrong in places like India, nothing is written in stone.
I am a regular visitor to India (especially to Delhi, and Kerala). Although there are not many shops which accept BTC in these regions, you can easily convert your BTC to fiat cash (INR), at low premiums. In Delhi itself, there are dozens, if not hundreds of traders who trade Bitcoins for fiat cash. Use Localbitcoins to get in touch with these guys.
Yup Even I have some colleagues who is from India, So many people not aware of bitcoins. But who are all working in bitcoin they are very clever and they are doing trading also through localbitcoins.com and btcindia. Except Amazon India and Ebay India none of the Online shops are accepting as I got info from my friend.There are many competent software programmers in India. Hotmail was originated from India. One day India will be the forefront of bitcoin related business.
The question is not whether any Bitcoin related business will come up from India, but how Bitcoin adoption will be in India.
You may have competent programmers, but that alone cannot take Bitcoin to the masses.
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.
I am a regular visitor to India (especially to Delhi, and Kerala). Although there are not many shops which accept BTC in these regions, you can easily convert your BTC to fiat cash (INR), at low premiums. In Delhi itself, there are dozens, if not hundreds of traders who trade Bitcoins for fiat cash. Use Localbitcoins to get in touch with these guys.
Yup Even I have some colleagues who is from India, So many people not aware of bitcoins. But who are all working in bitcoin they are very clever and they are doing trading also through localbitcoins.com and btcindia. Except Amazon India and Ebay India none of the Online shops are accepting as I got info from my friend.There are many competent software programmers in India. Hotmail was originated from India. One day India will be the forefront of bitcoin related business.
The question is not whether any Bitcoin related business will come up from India, but how Bitcoin adoption will be in India.
You may have competent programmers, but that alone cannot take Bitcoin to the masses.
There are a lot of smart people in indian doing IT and developing cool apps. Not all india is poor so there are chances that someone with enough resources will come up with a killer Bitcoin app and become rich.
I am a regular visitor to India (especially to Delhi, and Kerala). Although there are not many shops which accept BTC in these regions, you can easily convert your BTC to fiat cash (INR), at low premiums. In Delhi itself, there are dozens, if not hundreds of traders who trade Bitcoins for fiat cash. Use Localbitcoins to get in touch with these guys.
Yup Even I have some colleagues who is from India, So many people not aware of bitcoins. But who are all working in bitcoin they are very clever and they are doing trading also through localbitcoins.com and btcindia. Except Amazon India and Ebay India none of the Online shops are accepting as I got info from my friend.There are many competent software programmers in India. Hotmail was originated from India. One day India will be the forefront of bitcoin related business.
The question is not whether any Bitcoin related business will come up from India, but how Bitcoin adoption will be in India.
You may have competent programmers, but that alone cannot take Bitcoin to the masses.
Jump to: