Look at the charts (Bitcoin dont give a Crap about India) RBI

subvolatil

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Cypherpunk and full-time CryptoAnarchist

Quote from: dc0ded on December 29, 2013, 02:07:43 PM

I agree that Indian government doesn't realize the full potential of bitcoin yet. But some guys here on this thread need to do their homework before expressing facts about India. They remind me of few primary school kids I met in the US who used to believe that people in India use elephants instead of cars. Grin

What the way the Indian government and the press is reacting right now they might as well be riding elephants and camels.

dc0ded

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I agree that Indian government doesn't realize the full potential of bitcoin yet. But some guys here on this thread need to do their homework before expressing facts about India. They remind me of few primary school kids I met in the US who used to believe that people in India use elephants instead of cars. Grin

coldbreeze16

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Quote from: DewlanceVPS on December 29, 2013, 06:43:39 AM

Peoples who don't know anything about technology is monitoring Internet Business and even they can't understand what is Bitcoin Wink

In India the afsar-shahi is always reluctant to learn about new things but rather try to apply old rigid framework on newer concepts that don't even fit in. A visit to any BSNL office will show that with the uncles and aunties working there with very basic knowledge of networking.

DewlanceVPS

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Dewlance.com

Peoples who don't know anything about technology is monitoring Internet Business and even they can't understand what is Bitcoin Wink

G K G

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Quote from: subvolatil on December 28, 2013, 07:51:04 PM

Quote from: G K G on December 28, 2013, 05:00:03 PM

Quote from: coldbreeze16 on December 28, 2013, 03:27:05 PM

In India a person can live on less than 100 Rs per day. You can't live in the US with even 2$/day. PPP is a much better indicator than nominal GDP I believe, and India is already 3rd over there (EU shouldn't really be counted)
http://en.wikipedia.org/wiki/List_of_countries_by_GDP_%28PPP%29

WOW.. that is something new and proud to hear...

Its a shame that people live in less than a 100Rs a day. That shows, the living standards of people have dropped to such a level.

its been always the same... crappy politicians make billions but the hardworking poor get less than rs.100 a day to live

but atleast it is good to know one can live here with that low income.... there are still small shops here which provide a full lunch for rs.25

subvolatil

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Activity: 546

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Cypherpunk and full-time CryptoAnarchist

Quote from: G K G on December 28, 2013, 05:00:03 PM

Quote from: coldbreeze16 on December 28, 2013, 03:27:05 PM

In India a person can live on less than 100 Rs per day. You can't live in the US with even 2$/day. PPP is a much better indicator than nominal GDP I believe, and India is already 3rd over there (EU shouldn't really be counted)
http://en.wikipedia.org/wiki/List_of_countries_by_GDP_%28PPP%29

WOW.. that is something new and proud to hear...

Its a shame that people live in less than a 100Rs a day. That shows, the living standards of people have dropped to such a level.

G K G

sr. member

Activity: 280

Merit: 250

Quote from: coldbreeze16 on December 28, 2013, 03:27:05 PM

In India a person can live on less than 100 Rs per day. You can't live in the US with even 2$/day. PPP is a much better indicator than nominal GDP I believe, and India is already 3rd over there (EU shouldn't really be counted)
http://en.wikipedia.org/wiki/List_of_countries_by_GDP_%28PPP%29

WOW.. that is something new and proud to hear...

coldbreeze16

full member

Activity: 186

Merit: 100

In India a person can live on less than 100 Rs per day. You can't live in the US with even 2$/day. PPP is a much better indicator than nominal GDP I believe, and India is already 3rd over there (EU shouldn't really be counted)
http://en.wikipedia.org/wiki/List_of_countries_by_GDP_%28PPP%29

G K G

sr. member

Activity: 280

Merit: 250

Quote from: dishwara on December 28, 2013, 01:28:21 PM

http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)
http://timesofindia.indiatimes.com/business/india-business/India-to-be-worlds-3rd-largest-economy-by-2028-UK-thinktank-says/articleshow/28059381.cms

India is in 10th position now. While US & China is in 1st & 2nd.
So, its natural, Indian raid didnt affect any thing in bitcoin price.

If India wants to conquer the 3rd position(or anywherein the top 5) in that GDP table, it needs to stop whining and start reading some literature from the internet community.
The first thing it can do is start accepting the idea of bitcoin and other cryptos, because it is going to be "the way of the future" Grin

dishwara

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http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)
http://timesofindia.indiatimes.com/business/india-business/India-to-be-worlds-3rd-largest-economy-by-2028-UK-thinktank-says/articleshow/28059381.cms

India is in 10th position now. While US & China is in 1st & 2nd.
So, its natural, Indian raid didnt affect any thing in bitcoin price.

coldbreeze16

full member

Activity: 186

Merit: 100

Quote from: rudystyle on December 27, 2013, 08:06:50 AM

India is smaller than a midget but likes to think of itself as some kind of "superpower"

Tell that to frantic Modi supporters calling themselves 'Bharat mata ke bhakt' and see if they don't beat you into a pulp. Cheesy

rudystyle

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India is smaller than a midget but likes to think of itself as some kind of "superpower"

BTCIndia

hero member

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vini, vedi, no vici.

Why would chart give a damn about country with few nodes and handful of Bitcoins? No surprise! Grin

G K G

sr. member

Activity: 280

Merit: 250

Quote from: subvolatil on December 26, 2013, 04:30:54 PM

Quote from: BitCoinDream on December 26, 2013, 03:56:53 PM

Quote from: subvolatil on December 26, 2013, 03:31:31 PM

Wow! funny.

RBI puts out a press release, few indian exchanges close their shutters. Bitcoin's overall network dont give a shit about it.

Sad to know India cant even make a mark in new technology, and the regulatory authority is acting like it the next big thing in money laundering weapon. and Permission is required. Meh......

It was Christmas so, Bah Humbug!!

satisfied much.

Care to share the charts ?

the charts keep going up.

The press release does not say it has banned the use of BTC(which cannot be done practically)
just cautions the users to be aware of the use of crypto-currencies and the fraudulent ways we can be drawn into.

It has also shoot out a warning to all those trying to use it for illegal trades and money laundering, that the govt keep a close eye and is tracking all indian transactions.
Though BTC usage cannot be controlled, there are ways to track down large transactions from indian ip addresses. So any suspecious transaction could draw in interest from the Govt.

So i think the press release was a warning for the jackals and an alarm for innocent who get cheated by cons and thieves

subvolatil

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Cypherpunk and full-time CryptoAnarchist

Quote from: BitCoinDream on December 26, 2013, 03:56:53 PM

Quote from: subvolatil on December 26, 2013, 03:31:31 PM

Wow! funny.

RBI puts out a press release, few indian exchanges close their shutters. Bitcoin's overall network dont give a shit about it.

Sad to know India cant even make a mark in new technology, and the regulatory authority is acting like it the next big thing in money laundering weapon. and Permission is required. Meh......

It was Christmas so, Bah Humbug!!

satisfied much.

Care to share the charts ?

the charts keep going up.

BitCoinDream

legendary

Activity: 2408

Merit: 1216

The revolution will be digital

Quote from: subvolatil on December 26, 2013, 03:31:31 PM

Wow! funny.

RBI puts out a press release, few indian exchanges close their shutters. Bitcoin's overall network dont give a shit about it.

Sad to know India cant even make a mark in new technology, and the regulatory authority is acting like it the next big thing in money laundering weapon. and Permission is required. Meh......

It was Christmas so, Bah Humbug!!

satisfied much.

Care to share the charts ?

subvolatil

hero member

Activity: 546

Merit: 501

Cypherpunk and full-time CryptoAnarchist

Quote from: escrow.ms on December 26, 2013, 03:34:45 PM

Wut is RBI? Brah

I think it was a dinosaur that was suppose to die out, when the meteor hit earth a few million years ago.

escrow.ms

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Activity: 1274

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Wut is RBI? Brah

subvolatil

hero member

Activity: 546

Merit: 501

Cypherpunk and full-time CryptoAnarchist

Wow! funny.

RBI puts out a press release, few indian exchanges close their shutters. Bitcoin's overall network dont give a shit about it.

Sad to know India cant even make a mark in new technology, and the regulatory authority is acting like it the next big thing in money laundering weapon. and Permission is required. Meh......

It was Christmas so, Bah Humbug!!

satisfied much.

Topic: Look at the charts (Bitcoin dont give a Crap about India) RBI (Read 1146 times)