Bitcoin in India? Not for a LOOOOONG time. - page 4.

OROBTC

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...

Things may be beginning to change there in INDIA!

"Bitcoin India" just won a block (446511), it may be their first one:

https://blockchain.info/block/00000000000000000010900e720a97c1ae15033dd84f9653abb148efaaba6f26

Readers of this thread may want to keep an eye on Bitcoin India.

Taki

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I heard that Indian government are providing some new politic. Banknotes of large denomination declared a outlaw. And now they are creating same kind politic to the gold. With such way they are get and to bitcoin soon. They call this kind of politic as necessary in the struggle against corruption. But I think such methods will just rise the level if corruption in that country.

OROBTC

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...

When I started this thread, I had noted my own experience in India as a tourist, talking with some people there and our guide. We were there, of course, well before Modi's decision to ban their two "large" denomination" bank notes (500 and 1000 rupees).

I am interested to watch India's evolution in their thinking and adoption of Bitcoin. Yes, they have BOTH a huge population ignorant of Bitcoin (in the villages and rural areas) as well as their interesting High Tech sector.

Perhaps the same dynamics of Bitcoin acceptance in India might track the rest of the world's: that Bitcoin will grow only if there are more people who buy & use it AND merchant acceptance of BTC as payment. The latter (those who will accept BTC as payment) may be the more critical factor.

More comments from resident users of BTC from India are extremely welcome!

Supercrypt

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Quote from: Drago2016 on December 29, 2016, 04:38:00 PM

Quote from: Amph on December 29, 2016, 01:15:56 PM

Quote from: Sithara007 on December 29, 2016, 11:18:27 AM

Quote from: absy on December 29, 2016, 08:35:02 AM

Well yeah you are right . Indians do participate in many online jobs and we invest in BTC and other related things but given the population of 130 crore only 1% or 1.5% are aware of BTC , the remaining have no idea about it ,so yes India is still behind most of the other countries .

The level of Bitcoin awareness in India is almost the same as in other developing nations such as China and Brazil. The percentage might be small, but the overall numbers are quite high, due to the huge population.

in china there are more people that are aware of bitcoin, this is simply because the largest mining operation is residing there, india joined the party from the moment their two big pieces of fiat note were banned

India is a very promising country for Bitcoins. But, unfortunately, the mentality of people is not yet ready to accept Bitcoin as payment.

Many people not just in India, but all over the world have never heard of bitcoin, and I don’t think they do want to know about it , they are used to using fiat for a long time and trying to bring something new to their lives and change their ways is a very hard thing , but the minority of people who are using it are just using it as another source of income nothing less.

xIIImaL

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Quote from: sportis on December 30, 2016, 09:17:51 AM

Most of us we cannot understand how huge is the population of India and China today and we are looking only the percent rates. Therefore, easy we can find today population in China is about 1,382 bn and India is 1,335 bn according to http://countrymeters.info/. So as a member of the forum above told about 1.5 % its a very big percent of bitcoin users worldwide. Hence OPs prediction is not representative because he is taking under consideration only the population of Nepal.

India is now trying opt all the aspects of digital transaction and recent currency change issue makes people to have look on Indian economy. Due to this I think bitcoin can largely implement in india due to its population. Example, if we implement bitcoin mode of payment in online store. People will utilize their bitcoins as a payment and a payment window.

sportis

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Veni, Vidi, Vici

Most of us we cannot understand how huge is the population of India and China today and we are looking only the percent rates. Therefore, easy we can find today population in China is about 1,382 bn and India is 1,335 bn according to http://countrymeters.info/. So as a member of the forum above told about 1.5 % its a very big percent of bitcoin users worldwide. Hence OPs prediction is not representative because he is taking under consideration only the population of Nepal.

Drago2016

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Quote from: Amph on December 29, 2016, 01:15:56 PM

Quote from: Sithara007 on December 29, 2016, 11:18:27 AM

Quote from: absy on December 29, 2016, 08:35:02 AM

Well yeah you are right . Indians do participate in many online jobs and we invest in BTC and other related things but given the population of 130 crore only 1% or 1.5% are aware of BTC , the remaining have no idea about it ,so yes India is still behind most of the other countries .

The level of Bitcoin awareness in India is almost the same as in other developing nations such as China and Brazil. The percentage might be small, but the overall numbers are quite high, due to the huge population.

in china there are more people that are aware of bitcoin, this is simply because the largest mining operation is residing there, india joined the party from the moment their two big pieces of fiat note were banned

India is a very promising country for Bitcoins. But, unfortunately, the mentality of people is not yet ready to accept Bitcoin as payment.

Amph

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Quote from: Sithara007 on December 29, 2016, 11:18:27 AM

Quote from: absy on December 29, 2016, 08:35:02 AM

Well yeah you are right . Indians do participate in many online jobs and we invest in BTC and other related things but given the population of 130 crore only 1% or 1.5% are aware of BTC , the remaining have no idea about it ,so yes India is still behind most of the other countries .

The level of Bitcoin awareness in India is almost the same as in other developing nations such as China and Brazil. The percentage might be small, but the overall numbers are quite high, due to the huge population.

in china there are more people that are aware of bitcoin, this is simply because the largest mining operation is residing there, india joined the party from the moment their two big pieces of fiat note were banned

FaucetRank.com

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Quote from: chesatochi on December 29, 2016, 11:35:53 AM

Quote from: Sithara007 on December 29, 2016, 11:18:27 AM

Quote from: absy on December 29, 2016, 08:35:02 AM

Well yeah you are right . Indians do participate in many online jobs and we invest in BTC and other related things but given the population of 130 crore only 1% or 1.5% are aware of BTC , the remaining have no idea about it ,so yes India is still behind most of the other countries .

The level of Bitcoin awareness in India is almost the same as in other developing nations such as China and Brazil. The percentage might be small, but the overall numbers are quite high, due to the huge population.

I'm pretty sure the vast majority of people in India I not aware of the existence of bitcoin. But a good percentage of India receive they payment in bitcoin for the stuff they do online and exchange it into they local currency. As you may know, a lot of people speak English there and is one of the top countries that is doing outsourcing for the west countries.

Should not be long they will ask to be pay only in bitcoin Wink

Yes I agree with you, I'm from India and I belong from a village and I know about Bitcoin that's why I'm here so we can imagine how fast India is developing. Many young guys living in urban area also do not know about when I talk about Bitcoin they generally ask one question what is this? Grin

Sometimes I answer and some times I hate this question.

chesatochi

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Quote from: Sithara007 on December 29, 2016, 11:18:27 AM

Quote from: absy on December 29, 2016, 08:35:02 AM

Well yeah you are right . Indians do participate in many online jobs and we invest in BTC and other related things but given the population of 130 crore only 1% or 1.5% are aware of BTC , the remaining have no idea about it ,so yes India is still behind most of the other countries .

The level of Bitcoin awareness in India is almost the same as in other developing nations such as China and Brazil. The percentage might be small, but the overall numbers are quite high, due to the huge population.

I'm pretty sure the vast majority of people in India I not aware of the existence of bitcoin. But a good percentage of India receive they payment in bitcoin for the stuff they do online and exchange it into they local currency. As you may know, a lot of people speak English there and is one of the top countries that is doing outsourcing for the west countries.

Should not be long they will ask to be pay only in bitcoin Wink

Sithara007

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Quote from: absy on December 29, 2016, 08:35:02 AM

Well yeah you are right . Indians do participate in many online jobs and we invest in BTC and other related things but given the population of 130 crore only 1% or 1.5% are aware of BTC , the remaining have no idea about it ,so yes India is still behind most of the other countries .

The level of Bitcoin awareness in India is almost the same as in other developing nations such as China and Brazil. The percentage might be small, but the overall numbers are quite high, due to the huge population.

absy

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Quote from: BitcoinHodler on December 29, 2016, 08:00:35 AM

Quote from: usefrees on December 29, 2016, 07:57:15 AM

Quote from: Przemax on December 28, 2016, 05:24:05 AM

China is completly different from India. It has

1. Higher urbanisation
2. Growing wages
3. Public education for most of people
4. Have a group of people totally oposed to the government

In India we have none of those, which means no access to easy internet, no savings and not even ability to read in many cases. And yeah political and global awreness help in getting the knowledge about bitcoin.

Dont get me wrong India is still huge market, but its nowhere near to be next China for bitcoin.

Yes, I also think that India is a long time to be able to catch up with China in terms of turnover Bitcoin and many other indicators.

i am not so sure about that, Indian are known for their online jobs and whenever there is some money to be earned online they are there. and investing in bitcoin is one of those cases, and because they are an under developed country to some extent it took a bit longer time but it seems they are catching up and adopting bitcoin just fine.

Well yeah you are right . Indians do participate in many online jobs and we invest in BTC and other related things but given the population of 130 crore only 1% or 1.5% are aware of BTC , the remaining have no idea about it ,so yes India is still behind most of the other countries .

BitcoinHodler

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Quote from: usefrees on December 29, 2016, 07:57:15 AM

Quote from: Przemax on December 28, 2016, 05:24:05 AM

China is completly different from India. It has

1. Higher urbanisation
2. Growing wages
3. Public education for most of people
4. Have a group of people totally oposed to the government

In India we have none of those, which means no access to easy internet, no savings and not even ability to read in many cases. And yeah political and global awreness help in getting the knowledge about bitcoin.

Dont get me wrong India is still huge market, but its nowhere near to be next China for bitcoin.

Yes, I also think that India is a long time to be able to catch up with China in terms of turnover Bitcoin and many other indicators.

i am not so sure about that, Indian are known for their online jobs and whenever there is some money to be earned online they are there. and investing in bitcoin is one of those cases, and because they are an under developed country to some extent it took a bit longer time but it seems they are catching up and adopting bitcoin just fine.

usefrees

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Quote from: Przemax on December 28, 2016, 05:24:05 AM

China is completly different from India. It has

1. Higher urbanisation
2. Growing wages
3. Public education for most of people
4. Have a group of people totally oposed to the government

In India we have none of those, which means no access to easy internet, no savings and not even ability to read in many cases. And yeah political and global awreness help in getting the knowledge about bitcoin.

Dont get me wrong India is still huge market, but its nowhere near to be next China for bitcoin.

Yes, I also think that India is a long time to be able to catch up with China in terms of turnover Bitcoin and many other indicators.

Przemax

hero member

Activity: 560

Merit: 500

China is completly different from India. It has

1. Higher urbanisation
2. Growing wages
3. Public education for most of people
4. Have a group of people totally oposed to the government

In India we have none of those, which means no access to easy internet, no savings and not even ability to read in many cases. And yeah political and global awreness help in getting the knowledge about bitcoin.

Dont get me wrong India is still huge market, but its nowhere near to be next China for bitcoin.

X-ray

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Quote from: butcherboss on December 28, 2016, 01:29:41 AM

In India you can easily buy or sell bitcoin for currency many people do that, but if you wish to use your bitcoins in order to buy some product it is near impossible. So there is trading but no usage.

i just heard from some indians that the price of bitcoin there have some sort of margin that makes it's higher than in other exchangers which is internationally known such as btc-e or bitfinex that's very unfortunately but the fact. if you know that bitcoin can be easily buy or sell in there why there's having a problem like that? i honestly really want to know the exact amount of bitcoin volume in 24 hours transacted in india

butcherboss

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In India you can easily buy or sell bitcoin for currency many people do that, but if you wish to use your bitcoins in order to buy some product it is near impossible. So there is trading but no usage.

Yuuto

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Quote from: absy on December 28, 2016, 01:10:34 AM

I am an Indian and Yes I agree to this . I will try to give some reasons why Indians don't have any idea about BTC .

According to 2011 cencus -> 68.84% of Indians live in villages. 236,004 Indian villages have a population of fewer than 500, while 3,976 villages have a population of 10,000+.

I would say almost 50% of these people doesn't have idea about "Internet" itself . Its a unfortunate thing but many of us are trying hard to popularize BTC in our local areas as well as many ISP are striving hard to make people understand about Internet and how to use them .

Defintiely. For bitcoin to thrive first we need to get people internet access. Or, better yet, bring internet access through something that they already have, like a mobile phone that they already use on a daily basis.

There are bitcoin companies that are using SMS to send and receive bitcoin. You simply send an SMS to a mobile phone number and that will trigger the send/receive function.

However there is no incentive for Indians to start using bitcoins now.

absy

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I am an Indian and Yes I agree to this . I will try to give some reasons why Indians don't have any idea about BTC .

According to 2011 cencus -> 68.84% of Indians live in villages. 236,004 Indian villages have a population of fewer than 500, while 3,976 villages have a population of 10,000+.

I would say almost 50% of these people doesn't have idea about "Internet" itself . Its a unfortunate thing but many of us are trying hard to popularize BTC in our local areas as well as many ISP are striving hard to make people understand about Internet and how to use them .

2double0

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Quote from: The_prodigy on December 27, 2016, 12:47:25 PM

Quote from: upsidedown75 on December 26, 2016, 05:14:06 PM

Quote from: BitSat on December 16, 2016, 06:33:30 AM

India need too much time to adopt bitcoin like China and Indonesia because here most of things control by strict government policies so they are not allowing peoples to involve in this right now but some peoples trying to spread this which is very good signal

Yes it will take time but now I think it will grow at much faster pace because even government is promoting digital payment system.

People's trust on online transactions is increasing day by day in India hence more and more people are attracted towards Bitcoins. Soon India will also on the same track as china and Indonesia in terms of usage of Bitcoin.

They already adopt bitcoin in india to be honest they buying bitcoin plus 15% of additional to its original price if they goverment start imposing bitcoin then those people will not use bitcoin anymore. Bitcoin is easily to create transaction and can be send money worldwide with less fees not like another branch

No government would let anyone eat the whole cake while knowing that you are "stealing" tax from them through such ways out of which, bitcoin is one. But, even if government start imposing taxes on bitcoins, people could still use bitcoins there as the beauty of this thing will let them decide the price they want to sell it for, and not the government who will keep an eye just on their transactions' taxable amounts.

Topic: Bitcoin in India? Not for a LOOOOONG time. - page 4. (Read 14697 times)