Forget China, India will be next | Bitcointalksearch.org

zoinky

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Quote from: arbitrage001 on May 20, 2014, 02:54:41 PM

If India government trying to ban gold import to stop the outflow of money.

Guess what they will do to bitcoin when they discover it can totally by pass their control of rupee?

Start buying bitcoin?

arbitrage001

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If India government trying to ban gold import to stop the outflow of money.

Guess what they will do to bitcoin when they discover it can totally by pass their control of rupee?

Erdogan

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Many people - thirst for gold - non-total-government control - networks being built as we speak.

bryant.coleman

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Quote from: wachtwoord on May 16, 2014, 06:33:13 PM

Does anyone have an opinion about the election outcome?

Good news mate.

Quote from: goxed on May 17, 2014, 05:22:47 AM

Looks like a new government just got elected in India. Apparently the leader Mr. Modi is business and tech friendly. Could be a bullish signal.

The right-wing pro-Business party (BJP) got a simple majority on their own. That is a very positive signal to the business community, including the Bitcoin-based businesses. There will be less harassment from the ED, and lower taxes.

RockHound

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Nice summary list of Legality by Country:

http://en.wikipedia.org/wiki/Legality_of_Bitcoins_by_country

Some Indian exchanges have gained full regulatory compliance (would be interesting to see how their trade volume develops). Also, further governmental clarification is surely to be expected?

Do we have any Indian Bitcoiners on here, would be great to hear your views.

Natural tendency to think the Bitcoin protocol would be embraced by capitalisation-based emerging markets (India, SE Asia, S America). However, the opposite could be also be true (and have greater significance) like Countries with central banks facing bail-outs or negative interest rates.

segeln

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Quote from: Wilhelm on May 18, 2014, 08:16:21 AM

Quote from: goxed on May 17, 2014, 05:22:47 AM

Looks like a new government just got elected in India. Apparently the leader Mr. Modi is business and tech friendly. Could be a bullish signal.

India still is a prohibitism and have banned bitcoin by default in the last India bubble.
If the new government becomes anything modernish like a democratic or republic it will be bullish.
Until that happens don't think that India will ever enter bitcoin unless their government approves bitcoin and explicitly allows it.

I think so as well

segeln

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Quote from: bryant.coleman on May 17, 2014, 08:17:24 AM

Quote from: Pepin on May 17, 2014, 05:46:42 AM

Corruption, red-tape, and cronyism didn't stop Chinese exchanges from being set up, so I wouldn't think that it would stop Indian ones either.

I have been to India multiple times. And trust me, India is extremely hostile to business ventures, when compared to the business-friendly China. Sure, corruption do exist in China, but the magnitude of the problem is much lower when compared to that in India.

I agree

Wilhelm

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Quote from: goxed on May 17, 2014, 05:22:47 AM

Looks like a new government just got elected in India. Apparently the leader Mr. Modi is business and tech friendly. Could be a bullish signal.

India still is a prohibitism and have banned bitcoin by default in the last India bubble.
If the new government becomes anything modernish like a democratic or republic it will be bullish.
Until that happens don't think that India will ever enter bitcoin unless their government approves bitcoin and explicitly allows it.

DustyRah

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Quote from: Ron~Popeil on May 15, 2014, 10:02:27 AM

I have been to India. The caste system would never allow bit coin to thrive. The mere thought of the lower classes having wealth not controlled by the upper echelon would be unpalatable.

That's an untrue statement. India is an extraordinarily complex country with so many types of people living and it is not controlled by one type of people. The upper class does not mean wealthy in Indian caste system AFAIK. They have some weird religion based caste system.

I don't think Bitcoin will go main stream there simply because most people are not that tech savvy as Chinese and still rely on cash to do trade at low level. The government has incredibly tight capital controls and banks are also tightly regulated.

Any type of Bitcoin craze in India would be very good news for BTC.

bitcoin4eva

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Hopefully we will see a rise in the price of bitcoin!

bryant.coleman

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Quote from: Pepin on May 17, 2014, 05:46:42 AM

Corruption, red-tape, and cronyism didn't stop Chinese exchanges from being set up, so I wouldn't think that it would stop Indian ones either.

I have been to India multiple times. And trust me, India is extremely hostile to business ventures, when compared to the business-friendly China. Sure, corruption do exist in China, but the magnitude of the problem is much lower when compared to that in India.

Pepin

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Quote from: bryant.coleman on May 15, 2014, 07:17:47 AM

India is plagued by decades of corruption, red-tape and cronyism.

Corruption, red-tape, and cronyism didn't stop Chinese exchanges from being set up, so I wouldn't think that it would stop Indian ones either.

goxed

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Bitcoin / Crypto mining Hardware.

Looks like a new government just got elected in India. Apparently the leader Mr. Modi is business and tech friendly. Could be a bullish signal.

bryant.coleman

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Quote from: kokojie on May 15, 2014, 03:02:15 PM

There's nearly zero adoption in India, no nodes, no miners, no exchange, no infrastructure, nothing. I don't see it changing any time soon.

Not true. Have you ever checked the India sub-section of the Bitcointalk?

https://bitcointalk.org/index.php?board=89.0

It is one of the most active subsections in the Local section.

Elwar

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Viva Ut Vivas

Quote from: wachtwoord on May 16, 2014, 06:33:13 PM

Does anyone have an opinion about the election outcome?

They are saying there is a huge turnaround from the elections. A very business friendly government was elected, their markets soared after the election.

The Bitcoin exchanges in India need to get the ear of key people in power to open things up.

R2Pleasent

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India does not have the infrastructure to make anywhere near the impact of China. Furthermore, India's government already took a strong stance against Bitcoin. Just because it has a high population and an exchange does not mean it's going to take 50% market share overnight.

edwardspitz

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Quote from: cuddaloreappu on May 15, 2014, 11:11:58 AM

I am from India...the story that India will be the next for bitcoin is as aspiring as each if bitcoin reaching 100000$.

So take some grains of salt, actually lot of salt..

Does the site seem legit to you? I have serious doubts about it...

wachtwoord

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Does anyone have an opinion about the election outcome?

leopard2

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LOL to the bears

India is the world's No. 1 gold buyer, and despite government efforts it is also No1. gold smuggling nation

They will love the digital alternative... Grin

beetcoin

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hasn't india really been reclusive.. and they like to block a lot of "foreign" things. i remember they didn't even like coca cola into the country. seems like, historically, their government is fractured and i guess you could say xenophobic.

Topic: Forget China, India will be next (Read 3871 times)