Topic: Do you think Bitcoins has a great future in India? - page 3. (Read 4922 times)
As an indian, i can say the reason for peoples why doesn't use bitcoin is they didn't have enoug awareness about bitcoins and they resist to change INR (fiat) to BTC. And also lack of technical skills (you can take a survey). Most of the peoples were educated, Just educated. Not technically, but by theories.
No, because there are not so many computer users in India. India is very poor country, and in foreseen future I do not see any possible changes in India 
You dont need PC, you need only a phone, which obviously guys have. Even africans have phones.Basically put a bitcoin wallet on a smart phone, (internet via mobile internet , since i doubt some poor villages have cable internet).
Problem resolved. I see many hackers and programmers from india, so they must have to know how to use PC obviously.
Most people dont see it as a mobile play thats why I guess.
But I feel india already has a huge poential based on what you pointed out with "phones" itself being the PC.
No, because there are not so many computer users in India. India is very poor country, and in foreseen future I do not see any possible changes in India
You dont need PC, you need only a phone, which obviously guys have. Even africans have phones.Basically put a bitcoin wallet on a smart phone, (internet via mobile internet , since i doubt some poor villages have cable internet).
Problem resolved. I see many hackers and programmers from india, so they must have to know how to use PC obviously.
No, because there are not so many computer users in India. India is very poor country, and in foreseen future I do not see any possible changes in India
Half of the population of India can not sign their name and you expect them to support bitcoin. Good luck to day dreaming. 
India is having a total population of 1,300 million (and growing at a rate of 2% per year). The number of IT professionals in India is more than the total population of Ireland or Denmark. So it doesn't matter whether a large proportion of the Indians are illiterate or not. There are enough tech savvy people in that country, to take the Bitcoin adaption to a higher level.
even entrepreneurial growth in India has been increasing and their involvement with cryptocurrency can boost positive results for bitcoin as a currency, disregarding about the rules, regulations, etc in India from RBI about bitcoin. I think that India has developed a lot in human resources as well. Good to see people choose diverse careers rather than just doctorship or engineering, a common case in India I believe, yes?
Half of the population of India can not sign their name and you expect them to support bitcoin. Good luck to day dreaming.
India is having a total population of 1,300 million (and growing at a rate of 2% per year). The number of IT professionals in India is more than the total population of Ireland or Denmark. So it doesn't matter whether a large proportion of the Indians are illiterate or not. There are enough tech savvy people in that country, to take the Bitcoin adaption to a higher level.
Bitcoin can have a huge effect on the informal sector, if utilized properly.
yes, it could benefit India vastly, because there are so many trades taking place in the infromal sector, where there is no government moderating transactions. Street markets and other products which are not taxed or governed by a designated authority could benefit largely, unfortunately literacy is a major problem which needs to be overcome in order to achieve such a trance of economy.
Looking at the population of India, If bitcoins gets positive feedback even from the half of the population from Indians, I believe it would a win - win situation for the bitcoin community.
Half of the population of India can not sign their name and you expect them to support bitcoin. Good luck to day dreaming. BURNNNNNN
Looking at the population of India, If bitcoins gets positive feedback even from the half of the population from Indians, I believe it would a win - win situation for the bitcoin community.
Half of the population of India can not sign their name and you expect them to support bitcoin. Good luck to day dreaming. Yes, you are right, I remember India's finance minister talking about how only 2-3% people pay tax, around 36 million people, and that is pretty much understandable why conditions are still not so good at rural places in India, because India is a big, big, big country when it comes to people, not land A population of 1.25 billion people, that's like 1/6th population of the world is living in India :/
A population of 1.25 billion people, that's like 1/6th population of the world is living in India :/I am a regular visitor to India. I am part ethnic Indian (25%). I have family ties, as well as business interests in India. Two most important things I have noticed about India:
1. There is a huge discrepancy between the rich states (such as Kerala, Goa, and Himachal Pradesh), and the poor states (such as Bihar and Orrissa).
2. There is a huge informal sector. This is very evident in real estate, manufacturing.etc.
Bitcoin can have a huge effect on the informal sector, if utilized properly.
Poverty in India has been addressed to decrease at a pace, and I don't think that majority of them are poor, that is such an immature thing to say man. I think 30-35% population might be poor. And I am defining poor as a person who has a very cheap house, no savings and probably no job and resources. There are millions of RICH FILTHY RICH Indians living in India and other places, trust me, India is not as poor as foreigners assume it to be. Attached a graph proving how it has reduced its position in the chart from other countries.
In India, just around 25,000,000 people pay their income tax (that is around 2% of the population). And remember that everyone earning more than $4,000 per year has to pay income tax to the government. This means that 98% of the population is earning less than $4,000 per year, or around $330 per month. That said, 25 million is a good number.
yes, you are right, I remember India's finance minister talking about how only 2-3% people pay tax, around 36 million people, and that is pretty much understandable why conditions are still not so good at rural places in India, because India is a big, big, big country when it comes to people, not land
A population of 1.25 billion people, that's like 1/6th population of the world is living in India :/ Poverty in India has been addressed to decrease at a pace, and I don't think that majority of them are poor, that is such an immature thing to say man. I think 30-35% population might be poor. And I am defining poor as a person who has a very cheap house, no savings and probably no job and resources. There are millions of RICH FILTHY RICH Indians living in India and other places, trust me, India is not as poor as foreigners assume it to be. Attached a graph proving how it has reduced its position in the chart from other countries.
In India, just around 25,000,000 people pay their income tax (that is around 2% of the population). And remember that everyone earning more than $4,000 per year has to pay income tax to the government. This means that 98% of the population is earning less than $4,000 per year, or around $330 per month. That said, 25 million is a good number.
India might have one of the highest population figures in the world, but the majority of them are very poor. They have very skilled IT people and I know this, because I have worked with some of them.
Poverty in India has been addressed to decrease at a pace, and I don't think that majority of them are poor, that is such an immature thing to say man. I think 30-35% population might be poor. And I am defining poor as a person who has a very cheap house, no savings and probably no job and resources. There are millions of RICH FILTHY RICH Indians living in India and other places, trust me, India is not as poor as foreigners assume it to be. Attached a graph proving how it has reduced its position in the chart from other countries.
yes I think bitcoin has a good future at india but I am still little bit confused about the corruption in india as it can still apoint the bitcoin system if it used for the corruption
For all those who are wondering about RBI's stance on bitcoins, you can read this
https://rbi.org.in/SCRIPTS/BS_SpeechesView.aspx?Id=971
You can go to point 30, titled Undesirable and Questionable Disruptive Innovations
https://rbi.org.in/SCRIPTS/BS_SpeechesView.aspx?Id=971
You can go to point 30, titled Undesirable and Questionable Disruptive Innovations
The Indian authorities are famous for taking retarded and retrograde steps regarding new innovations. I still remember the incident which occurred in the late 1980s, when computers were first imported to India. The local communist party thugs destroyed all of those systems, claiming that computers will make ordinary Indians unemployed. And after two decades, these same thugs can't live without computers.
I`m not familiar with indian legislation or regulations.
But India has already a big taste for gold, so they are into alternatives, plus they are pretty opportunistic and wealth loving which is good, so if they pursue it, i think bitcoin can have a big future in India.
But India has already a big taste for gold, so they are into alternatives, plus they are pretty opportunistic and wealth loving which is good, so if they pursue it, i think bitcoin can have a big future in India.
For all those who are wondering about RBI's stance on bitcoins, you can read this
https://rbi.org.in/SCRIPTS/BS_SpeechesView.aspx?Id=971
You can go to point 30, titled Undesirable and Questionable Disruptive Innovations
https://rbi.org.in/SCRIPTS/BS_SpeechesView.aspx?Id=971
You can go to point 30, titled Undesirable and Questionable Disruptive Innovations
India have many people who works in software development industry surely many people should be knowing about bitcoin by now but may not be using it because bitcoin is still not accepted in any mainstream businesses.
yeah i think so. but to be honest i hope bitcoin will have a great future in my country
because the rate is very low now in my country
because the rate is very low now in my country
many people in India don't know about bitcoins so if people know ABOUT it then it will be a great feature for bit coins
Oh really ,may i ask you whose alt account are you Sir 
and plus just thinking that bitcoin has good future at someplace where there is more population is not just closeminded but also a time waste.
India is a place for rich people only ,and nothing can change that until the people get out od their religious and superstitious bullshit.
majority of the population in India dont even have a National ID ,until the new id launched back some years ago known as Aadhar ,which still hasent covered more than a quarter of the polulation .
Isn't Bitcoin already gaining some traction among the Indian tech crowd?
Definitely a huge market
Definitely a huge market
Yes, the tech crowd is huge. So if it gains traction among the tech crowd, it will be a great success.
Some of the tech companies have started experimenting with the blockchain.
I even know a few people who are young entrepreneurs planning to starting bitcoin based ventures despite the rules and regulations, their lawyer say they would be under protection so its all good. I think bitcoin in India has crazy potential, once there is more knowledge and media coverage about it there, I think it'd be pretty fire
Yes, India is a huge market for bitcoins and young tech savy crowd is already excited about bitcoins. On other hand there are some wrong information in the mind of the people regarding bitcoins that its a scam and RBI has already expressed that they will never regulate bitcoin in india. There is a need to spread the knowledge regarding bitcoins via mainstream media or via some celebrities. I agree that bitcoins has great future not only in india but also in entire world.
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