Bitcoin in India? Not for a LOOOOONG time. - page 5.

The_prodigy

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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

BitHodler

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Quote from: Vaskiy on December 26, 2016, 10:10:35 AM

As stated by the OP, bitcoin is truly an advancement. But when it comes to India, its not much familiar among the common people. Little by little things were getting better and recently a sudden and increased adoption took place when the country's currency went valueless.

With a polulation number of nearly 1.3 billion, India can turn out to be the next China in terms of Bitcoin popularity. Imagine what it will do with the price.

People will slowly start to realize that the government they are living under, isn't doing anything for them. If the government there pushes people a bit further, then it will only stimulate Bitcoin adoption even more.

I am quite sure that in the coming years it will be much easier for people there to take positions into Bitcoin. Right now it's still a fairly difficult task, but it won't stay like this forever. Fasten your seatbelts already!

antonioa

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Quote from: Sithara007 on December 27, 2016, 09:11:35 AM

Quote from: simpler2016 on December 27, 2016, 12:54:52 AM

You're right, but that the Government of India does not promote cryptocurrency. The government prohibits it. A people can not be trusted Bitcoin

Normally, the governments in third world nations are not in favor of Bitcoin usage. China and India are examples for this policy. Tax evasion is a big problem in these nations, and Bitcoin is playing its part in helping people to hide their taxable income.

You are right, for countries with weak economies Bitcoin is a big problem. But the government makes it impossible for the lives of their citizens, and they are forced to look for a way to somehow survive.

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Quote from: simpler2016 on December 27, 2016, 12:54:52 AM

You're right, but that the Government of India does not promote cryptocurrency. The government prohibits it. A people can not be trusted Bitcoin

Normally, the governments in third world nations are not in favor of Bitcoin usage. China and India are examples for this policy. Tax evasion is a big problem in these nations, and Bitcoin is playing its part in helping people to hide their taxable income.

Dudeperfect

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Quote from: Xester on December 26, 2016, 08:41:59 PM

Quote from: OrangeII on December 26, 2016, 10:41:09 AM

India is a country consisting of those extraordinary. I am sure, if bitcoin developed in India, it will spread throughout the world, in fact I'm pretty sure that bitcoin can be used to the maximum, whether it is for individuals or for business purposes. I believe that bitcoin will last a long time in India.

There are many poor people in india and many cannot avail internet services. While others who have access doesnt mind this cryptocurrency. This time bitcoin is new to India but later on when their economic system and their way of living turns digital, bitcoin will be appreciated and used. IF that will happen then we are also lucky since at that time bitcoin will be bought on a much higher price than this time.

I have a good set of expectations in my mind when it comes to Bitcoin in India. The population has an average age of less than 35 years and the efforts for improving digital literacy is being taken on very high level in the government. Recent cash crisis is proving beneficial to attract citizens towards cashless payment system, and if they can use cashless payment system in fiat, then they are almost ready to use bitcoin. Mark my words, in next five years, India will be among top players of bitcoin’s user group.

simpler2016

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Quote from: Zadicar on December 26, 2016, 11:25:06 PM

Quote from: Yakamoto on December 26, 2016, 08:56:57 PM

Quote from: Xester on December 26, 2016, 08:41:59 PM

Quote from: OrangeII on December 26, 2016, 10:41:09 AM

India is a country consisting of those extraordinary. I am sure, if bitcoin developed in India, it will spread throughout the world, in fact I'm pretty sure that bitcoin can be used to the maximum, whether it is for individuals or for business purposes. I believe that bitcoin will last a long time in India.

There are many poor people in india and many cannot avail internet services. While others who have access doesnt mind this cryptocurrency. This time bitcoin is new to India but later on when their economic system and their way of living turns digital, bitcoin will be appreciated and used. IF that will happen then we are also lucky since at that time bitcoin will be bought on a much higher price than this time.

This is something a lot of people forget; even though the Indian government is opting to remove the large bank notes from their monetary supply, there's still over a billion people in India and, if you look at the economic status of that country, there are a lot of people who don't have access to the internet, let alone an internet-supporting device. Bitcoin is a long ways away from being useful in that region.

Economic state of that region does really affect the bitcoin adoption because as you said internet access is not rampant on a certain area which means it would really takes time for people to engage and have awareness on bitcoin.If they would able to know crypto they would somehow improved their way of life.

You're right, but that the Government of India does not promote cryptocurrency. The government prohibits it. A people can not be trusted Bitcoin

Zadicar

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Quote from: Yakamoto on December 26, 2016, 08:56:57 PM

Quote from: Xester on December 26, 2016, 08:41:59 PM

Quote from: OrangeII on December 26, 2016, 10:41:09 AM

India is a country consisting of those extraordinary. I am sure, if bitcoin developed in India, it will spread throughout the world, in fact I'm pretty sure that bitcoin can be used to the maximum, whether it is for individuals or for business purposes. I believe that bitcoin will last a long time in India.

There are many poor people in india and many cannot avail internet services. While others who have access doesnt mind this cryptocurrency. This time bitcoin is new to India but later on when their economic system and their way of living turns digital, bitcoin will be appreciated and used. IF that will happen then we are also lucky since at that time bitcoin will be bought on a much higher price than this time.

This is something a lot of people forget; even though the Indian government is opting to remove the large bank notes from their monetary supply, there's still over a billion people in India and, if you look at the economic status of that country, there are a lot of people who don't have access to the internet, let alone an internet-supporting device. Bitcoin is a long ways away from being useful in that region.

Economic state of that region does really affect the bitcoin adoption because as you said internet access is not rampant on a certain area which means it would really takes time for people to engage and have awareness on bitcoin.If they would able to know crypto they would somehow improved their way of life.

Yakamoto

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Quote from: Xester on December 26, 2016, 08:41:59 PM

Quote from: OrangeII on December 26, 2016, 10:41:09 AM

India is a country consisting of those extraordinary. I am sure, if bitcoin developed in India, it will spread throughout the world, in fact I'm pretty sure that bitcoin can be used to the maximum, whether it is for individuals or for business purposes. I believe that bitcoin will last a long time in India.

There are many poor people in india and many cannot avail internet services. While others who have access doesnt mind this cryptocurrency. This time bitcoin is new to India but later on when their economic system and their way of living turns digital, bitcoin will be appreciated and used. IF that will happen then we are also lucky since at that time bitcoin will be bought on a much higher price than this time.

This is something a lot of people forget; even though the Indian government is opting to remove the large bank notes from their monetary supply, there's still over a billion people in India and, if you look at the economic status of that country, there are a lot of people who don't have access to the internet, let alone an internet-supporting device. Bitcoin is a long ways away from being useful in that region.

Xester

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Quote from: OrangeII on December 26, 2016, 10:41:09 AM

India is a country consisting of those extraordinary. I am sure, if bitcoin developed in India, it will spread throughout the world, in fact I'm pretty sure that bitcoin can be used to the maximum, whether it is for individuals or for business purposes. I believe that bitcoin will last a long time in India.

There are many poor people in india and many cannot avail internet services. While others who have access doesnt mind this cryptocurrency. This time bitcoin is new to India but later on when their economic system and their way of living turns digital, bitcoin will be appreciated and used. IF that will happen then we are also lucky since at that time bitcoin will be bought on a much higher price than this time.

Tanic

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If Indian government don't block bitcoin it can have great future there. First of all it's population and second cause of the financial situation to majority of people.

upsidedown75

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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.

2double0

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Quote from: Vaskiy on December 26, 2016, 10:10:35 AM

As stated by the OP, bitcoin is truly an advancement. But when it comes to India, its not much familiar among the common people. Little by little things were getting better and recently a sudden and increased adoption took place when the country's currency went valueless.

I heard that some demonetization took place there and this gave bitcoins much more importance to black money holders there.
They just transacted all their cash for very high prices per bitcoin, but this won't last long. Still, this has gained some more focus of users in India towards bitcoins.

OrangeII

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India is a country consisting of those extraordinary. I am sure, if bitcoin developed in India, it will spread throughout the world, in fact I'm pretty sure that bitcoin can be used to the maximum, whether it is for individuals or for business purposes. I believe that bitcoin will last a long time in India.

Vaskiy

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As stated by the OP, bitcoin is truly an advancement. But when it comes to India, its not much familiar among the common people. Little by little things were getting better and recently a sudden and increased adoption took place when the country's currency went valueless.

marcoman22

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I am also from india. Most of indians are not familiar with Bitcoins. Most of them dont even have credit card. Most payments are by paper currency. If they start using Bitcoins, then surely it would create a great increase in demand for bitcoins.

crockoo

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Yes, I agree, the government can not ban Bitcoin. And the Indian government makes it impossible suschestvovovanie its citizens in their own country. Therefore, more and more people are turning to the Bitcoin community

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No man, bitcoin trading transactions will still exist in India despite the government banned for citizens in India using bitcoin but the presence of dark-exchange sites will remain.

BitcoinPC

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Quote from: CyberKuro on December 26, 2016, 05:12:51 AM

Quote from: dmamigo on December 16, 2016, 06:02:03 AM

Quote from: The_Dark_Knight on December 15, 2016, 10:20:55 PM

Quote from: pereira4 on December 14, 2016, 03:26:05 PM

It's unfortuante that india is not ready for bitcoin yet, mainly because people is too uninformed to even know what it is let alone how to properly use it to store and move their wealth. A lot of people is going to lose their net worth because of government stupidity and gold will be confiscated if they try to go the gold route.

People from India love gold so if the government tried some confiscatory measures I’m sure there is going to be strong resistance against it, that is why I think India is going to adopt bitcoin, if we explain them that bitcoin is like an electronic form of gold.

Bitcoin is already being adopted by many Indians. And after demonetization in India, many peoples are getting into Bitcoins. The acceptance rate of Bitcoins will be going further gradually. Not only they are uninformed, many people live in fear. Gold can be bought electronically also, but they by physical gold out of fear for feeling more secure.

Yeah, the information about bitcoin that less to attract lots of adopters.
I think India is same situation in my country where many adopters but not much enough to say massive, just about 0.1% maybe.
A lot of things to learn about bitcoin I realized from the first time I found it.
So, people may know if some stores or news discuss about bitcoin become an alternative payment.

We can't deny that a huge number of the every country don't know about bitcoin, only a few countries are here where bitcoin is used in a big place. But if i am talking about India, than definitely i accept that bitcoin really want to help to Indian's people, but instead of it, they are not showing their interest. Even in many states of India, we can use bitcoin in open market easily, but also for it, many people don't know about bitcoin, So it is really mean that bitcoin need long time required in India.

avikz

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True! Being an INDIAN I can understand your point. Bitcoin is not as popular as China because we don't have internet facility in every villages of INDIA. A large amount of people are still outside the reach of internet. That is the reason why majority of the INDIAN have not heard about bitcoin.

Also a large amount of our oldage population are simple not interested because they are not tech savy. The concept of bitcoin can only be understood by a internet educated person.

However, if you meet the younger generation of India who belongs from a middle class or upper-middle class section, you will see that many of them knows about bitcoin.

CyberKuro

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Quote from: dmamigo on December 16, 2016, 06:02:03 AM

Quote from: The_Dark_Knight on December 15, 2016, 10:20:55 PM

Quote from: pereira4 on December 14, 2016, 03:26:05 PM

It's unfortuante that india is not ready for bitcoin yet, mainly because people is too uninformed to even know what it is let alone how to properly use it to store and move their wealth. A lot of people is going to lose their net worth because of government stupidity and gold will be confiscated if they try to go the gold route.

People from India love gold so if the government tried some confiscatory measures I’m sure there is going to be strong resistance against it, that is why I think India is going to adopt bitcoin, if we explain them that bitcoin is like an electronic form of gold.

Bitcoin is already being adopted by many Indians. And after demonetization in India, many peoples are getting into Bitcoins. The acceptance rate of Bitcoins will be going further gradually. Not only they are uninformed, many people live in fear. Gold can be bought electronically also, but they by physical gold out of fear for feeling more secure.

Yeah, the information about bitcoin that less to attract lots of adopters.
I think India is same situation in my country where many adopters but not much enough to say massive, just about 0.1% maybe.
A lot of things to learn about bitcoin I realized from the first time I found it.
So, people may know if some stores or news discuss about bitcoin become an alternative payment.

Topic: Bitcoin in India? Not for a LOOOOONG time. - page 5. (Read 14697 times)