Bitcoin in India? Not for a LOOOOONG time. - page 6.

bryant.coleman

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Quote from: rajasumi3 on December 26, 2016, 01:20:31 AM

Actually people in india are having a hard time for demonetization problems and apps like paytm we have to make them understand and some people dont even want to understand them at all .so bitcoins is a long way to go .media should be active in this for bitcoins.

From what I have seen, Bitcoin has just wasted a great opportunity in India. Online payment options such as PayTM, Mobikwik, and Freecharge were able to enroll millions of users, ever since the demonetization kicked in. Unfortunately, Bitcoin couldn't make use of the opportunity. A little bit of public awareness could have done the trick.

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Quote from: dmamigo on December 16, 2016, 05:02:03 AM

Quote from: The_Dark_Knight on December 15, 2016, 09:20:55 PM

Quote from: pereira4 on December 14, 2016, 02:26:05 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.

main reason for the seemingly higher price in India is because of the smaller supply vs the demand. if they had a proper way of purchasing bitcoin rather than using localbitcoins their bitcoin price wouldn't have been this high. there is only one Indian exchange and that already needs a bank to deposit and Indians have trouble with their banks. so they seek alternative ways like localbitcoins and pay extra amount.

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Quote from: hakanbalta577 on December 21, 2016, 07:14:51 AM

Oh thats great to hear that you have visited India as i am from India and you are right still bitcoin is not popular in india.If you ask randomly to people about the bitcoin,i think not even one will know about bitcoins out of ten even the very educated ones,i hope this will change in next years.

i think that if people in india are know bitcoin very well especially the wealthy people then most of them will be moving their wealth to bitcoin and then the developing progress of bitcoin in india will be faster than now
but unfortunately that in india it seem they don't have a corporate or organization which support bitcoin or which is created to inform people about bitcoin

rajasumi3

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Actually people in india are having a hard time for demonetization problems and apps like paytm we have to make them understand and some people dont even want to understand them at all .so bitcoins is a long way to go .media should be active in this for bitcoins.

hakanbalta577

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Oh thats great to hear that you have visited India as i am from India and you are right still bitcoin is not popular in india.If you ask randomly to people about the bitcoin,i think not even one will know about bitcoins out of ten even the very educated ones,i hope this will change in next years.

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Quote from: BitSat on December 16, 2016, 05:33:30 AM

Quote from: traderethereum on December 16, 2016, 05:28:58 AM

Quote from: dmamigo on December 16, 2016, 05:02:03 AM

Quote from: The_Dark_Knight on December 15, 2016, 09:20:55 PM

Quote from: pereira4 on December 14, 2016, 02:26:05 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.

i see that indians realize that bitcoin is become another solutions for their economic and they can use bitcoin for the payment, beside that bitcoin is really safe and secure than gold so i think this is a good to be adopt by other country and other people so we can make bitcoin more grow than before.

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

They might not use the bitcoin, but they can buy and hold the bitcoin.

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Quote from: traderethereum on December 16, 2016, 05:28:58 AM

Quote from: dmamigo on December 16, 2016, 05:02:03 AM

Quote from: The_Dark_Knight on December 15, 2016, 09:20:55 PM

Quote from: pereira4 on December 14, 2016, 02:26:05 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.

i see that indians realize that bitcoin is become another solutions for their economic and they can use bitcoin for the payment, beside that bitcoin is really safe and secure than gold so i think this is a good to be adopt by other country and other people so we can make bitcoin more grow than before.

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

traderethereum

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Quote from: dmamigo on December 16, 2016, 05:02:03 AM

Quote from: The_Dark_Knight on December 15, 2016, 09:20:55 PM

Quote from: pereira4 on December 14, 2016, 02:26:05 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.

i see that indians realize that bitcoin is become another solutions for their economic and they can use bitcoin for the payment, beside that bitcoin is really safe and secure than gold so i think this is a good to be adopt by other country and other people so we can make bitcoin more grow than before.

dmamigo

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Quote from: The_Dark_Knight on December 15, 2016, 09:20:55 PM

Quote from: pereira4 on December 14, 2016, 02:26:05 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.

Gudhal Untu

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Quote from: The_Dark_Knight on December 15, 2016, 09:20:55 PM

Quote from: pereira4 on December 14, 2016, 02:26:05 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.

All people of course more love gold than bitcoin. It is not easy to explain bitcoin to new people. They just assume the same with paypal, it is not just happening in india, in my States also like that.

The_Dark_Knight

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Quote from: pereira4 on December 14, 2016, 02:26:05 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.

Dmitry.Vastov

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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.

Thats because a lot of people there are not into technology. They dont know how to use new technology. We have the same situation here. My place we can say it is remote area and i think i am the only one here know bitcoin. They dont know bitcoin yet. So i introduce bitcoin to some of my friends because i think its a duty to make bitcoin to be known by many people here. But i have a problem. The technology here is too old. They dont know how to use internet. It will be a challenge for me.

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Hundreds of bitcoin sellers in a country of billions would qualify as barely anything and its not a small country so hundreds is nothing, mostly in a few cities I guess. India is energy poor as I understand it, they have so far at least limited access to natural oil reserves or gas. There is some but as mentioned the demands of the country are gigantic and so the price of energy there including electricity must be pretty high. Ive never heard of hydro power being built large scale like the Chinese did, they also are not energy rich.

India has a great need for bitcoin in its stability, utility to business and distance from political based currency. They also have great challenges to use anything reliant on telecommunications, I think India needs more infrastructure. Its not an actual capitalist country as I understand things, maybe in future but its more nationalist based with lots of protectionism which means very slow progress

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Some people dont know about Bitcoin in india

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Quote from: dmamigo on December 14, 2016, 01:50:01 PM

Quote from: Sithara007 on December 14, 2016, 06:10:34 AM

Quote from: dihari on December 13, 2016, 11:16:12 PM

India is not the only one country in the world that the peoples is not familiar with bitcoin.

Indians are not that unfamiliar to Bitcoin. Check the Indian section of Localbitcoins, and you will be surprised to see hundreds of users online at any given point of time. Also, there are a lot of Bitcoin-based businesses operating out of India.

Indian are obviously not unknown to Bitcoin, but amount o users is quite less. Moreover very few peoples are interested about Bitcoin. Many people are familiar to this currency but their fear or lack of proper information holds them back from using it.
Also the exchangers charge quite more INR than the actual market rate.

The situation is the same in most of the other countries, such as China and Brazil. Bitcoin is not very familiar to the general population. But there remains a small core of Bitcoin users, who have kept the sector alive in these countries.

Techie5879

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True. I live in West Bengal, and so far, in all this time, I havent met anyone who has a fair amount of knowledge about bitcoins. Forget about using it in commerce, around 98% havent even heard about bitcoins. Some have heard the word "bitcoin", and either think that its criminal offense to use it, or dont even have an internet connection, making it impossible for them to earn/transfer bitcoins. I dont think there are ANY miners in India, as the economy of the people who do have knowledge about bitcoins, and mining doesnt permit them to pay the massive cost of buying ASIC miners, the huge electricity bills, and get so low/no profits.

davis196

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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.

Perhaps bitcoin isn`t popular in India because there aren`t any miners.

There aren`t any miners because of high electricity price or the hardware is too expensive to import.

Maybe btc will become popular in India in the future.

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Quote from: eternalgloom on December 14, 2016, 02:00:58 PM

Quote from: Tanic on December 14, 2016, 01:53:50 PM

I have heard that India is going to be number one by bitcoin users. India is the country of contrasts. In your thread you don't mention with what kind of people you have contacted there. If that was just turistic jorney then I'm sure that you haven't met anybody who know about bitcoin. I think the most bitcoin users in India are students of big colleges and universities and business people as well.

India just has a huge population, and if just a tiny percentage of those people would use Bitcoin in the future, it would be a massive influx of new users.
That doesn't take away the fact that the majority of people in India are pretty tech-illiterate.

That's tight about that majority of people in India are tech-illiterate and there are many people there who live under the line of poverty. But I also was reading about that India is going to take the first place by the number of bitcoin users. That's fact.

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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.

eternalgloom

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Quote from: Tanic on December 14, 2016, 01:53:50 PM

I have heard that India is going to be number one by bitcoin users. India is the country of contrasts. In your thread you don't mention with what kind of people you have contacted there. If that was just turistic jorney then I'm sure that you haven't met anybody who know about bitcoin. I think the most bitcoin users in India are students of big colleges and universities and business people as well.

India just has a huge population, and if just a tiny percentage of those people would use Bitcoin in the future, it would be a massive influx of new users.
That doesn't take away the fact that the majority of people in India are pretty tech-illiterate.

Topic: Bitcoin in India? Not for a LOOOOONG time. - page 6. (Read 14727 times)