why indians afraid to invest in crypto

elevates

sr. member

Activity: 756

Merit: 390

Quote from: Bitcoin Smith on August 12, 2023, 11:05:43 AM

Quote from: elevates on August 12, 2023, 03:58:19 AM

Quote from: pawanjain on August 12, 2023, 02:38:47 AM

It's good that x.com is not banned by the Indian government thinking it as a porn site. I did saw an Instagram account saying it was banned but it isn't.
If x coin was launched by Elon I would definitely invest in it because Elon is doer and a project with active development, huge fame and support will surely get good profits.

If it was a xx or xxx then the government would have certainly banned those domain. For your knowledge purpose, xx.com is available and is for sale. Meanwhile xxx.com has already been banned by the government. A single X doesn't refer to porn or nudity by it refers to an X which also means multiple if we take it literally from mathematics. That is why Mr Musk renamed Twitter to X as he plans to add many more features to it. Most super apps have failed to make any mark in the past. Let's see how it works out for X.com.

For the record, if Twitter goes with this level of nudity level, then we don't need the porn sites at all. (I hope you will understand what I am talking). Grin

It's ironic that porn is illegal by law in India and banned in every site however they allow it on 'X' aka twitter with no restrictions at all which really shows that how strict the security system of India.

How can we expect them to undersatand Bitcoin. Roll Eyes

LOL! Twitter is no more Twitter but X. If you are not aware of it then let me remind you about Twitter starting somewhat like a one minute vidoe content in the past. I might be wrong about it, eventually it got so many negative attention that they stopped it. Twitter, Reddit and Facebook have been doing such shit. These three paltform are now a place to get underage girls & boys for a pedophile. The situation has gotten worse, where as the platform are still menting money with such content.

libert19

hero member

Activity: 2520

Merit: 952

Usually Indian mainstream media portrays crypto in negative light, so those who hear about crypto from it will likely never bother with it while people who came to this space through their own research & understanding have stayed.

Quote from: pawanjain on August 14, 2023, 06:50:58 AM

But only someone insane would like to watch porn on Twitter or Reddit. Why would anyone do that when they have better options.

Idk much about Twitter, but on Reddit there is plenty good porn. Even there some Indian nsfw subs are banned, idk if it's due to ban Elevates mentioned.

pawanjain

hero member

Activity: 2702

Merit: 716

Nothing lasts forever

Quote from: Bitcoin Smith on August 12, 2023, 11:05:43 AM

Quote from: elevates on August 12, 2023, 03:58:19 AM

Quote from: pawanjain on August 12, 2023, 02:38:47 AM

It's good that x.com is not banned by the Indian government thinking it as a porn site. I did saw an Instagram account saying it was banned but it isn't.
If x coin was launched by Elon I would definitely invest in it because Elon is doer and a project with active development, huge fame and support will surely get good profits.

If it was a xx or xxx then the government would have certainly banned those domain. For your knowledge purpose, xx.com is available and is for sale. Meanwhile xxx.com has already been banned by the government. A single X doesn't refer to porn or nudity by it refers to an X which also means multiple if we take it literally from mathematics. That is why Mr Musk renamed Twitter to X as he plans to add many more features to it. Most super apps have failed to make any mark in the past. Let's see how it works out for X.com.

For the record, if Twitter goes with this level of nudity level, then we don't need the porn sites at all. (I hope you will understand what I am talking). Grin

It's ironic that porn is illegal by law in India and banned in every site however they allow it on 'X' aka twitter with no restrictions at all which really shows that how strict the security system of India.

How can we expect them to undersatand Bitcoin. Roll Eyes

Lol, I know. Grin

But only someone insane would like to watch porn on Twitter or Reddit. Why would anyone do that when they have better options.
On a serious note, I wish Elon does something better for the crypto community. He has a great power in his hands and only time will tell if he uses it well.

elevates

sr. member

Activity: 756

Merit: 390

Quote from: Bitcoin Smith on August 12, 2023, 11:05:43 AM

For the record, if Twitter goes with this level of nudity level, then we don't need the porn sites at all. (I hope you will understand what I am talking). Grin

It's ironic that porn is illegal by law in India and banned in every site however they allow it on 'X' aka twitter with no restrictions at all which really shows that how strict the security system of India.

How can we expect them to undersatand Bitcoin. Roll Eyes

Not only Twitter, you can acess porn Reddit if you are using its mobile app. There are certain platform like these two which do allow access to porn without any restriction. I am not sure what the law says here but as per my understanding porn has been outrightly banned in India after the Chennai high court verdict. I am not sure whether it was challenged in the Supreme court. There are many things controversial about these two platforms yet they are the ones known for generating viral contents.

Bitcoin Smith

sr. member

Activity: 910

Merit: 284

Quote from: elevates on August 12, 2023, 03:58:19 AM

Quote from: pawanjain on August 12, 2023, 02:38:47 AM

It's good that x.com is not banned by the Indian government thinking it as a porn site. I did saw an Instagram account saying it was banned but it isn't.
If x coin was launched by Elon I would definitely invest in it because Elon is doer and a project with active development, huge fame and support will surely get good profits.

If it was a xx or xxx then the government would have certainly banned those domain. For your knowledge purpose, xx.com is available and is for sale. Meanwhile xxx.com has already been banned by the government. A single X doesn't refer to porn or nudity by it refers to an X which also means multiple if we take it literally from mathematics. That is why Mr Musk renamed Twitter to X as he plans to add many more features to it. Most super apps have failed to make any mark in the past. Let's see how it works out for X.com.

For the record, if Twitter goes with this level of nudity level, then we don't need the porn sites at all. (I hope you will understand what I am talking). Grin

It's ironic that porn is illegal by law in India and banned in every site however they allow it on 'X' aka twitter with no restrictions at all which really shows that how strict the security system of India.

How can we expect them to undersatand Bitcoin. Roll Eyes

elevates

sr. member

Activity: 756

Merit: 390

Quote from: pawanjain on August 12, 2023, 02:38:47 AM

It's good that x.com is not banned by the Indian government thinking it as a porn site. I did saw an Instagram account saying it was banned but it isn't.
If x coin was launched by Elon I would definitely invest in it because Elon is doer and a project with active development, huge fame and support will surely get good profits.

If it was a xx or xxx then the government would have certainly banned those domain. For your knowledge purpose, xx.com is available and is for sale. Meanwhile xxx.com has already been banned by the government. A single X doesn't refer to porn or nudity by it refers to an X which also means multiple if we take it literally from mathematics. That is why Mr Musk renamed Twitter to X as he plans to add many more features to it. Most super apps have failed to make any mark in the past. Let's see how it works out for X.com.

pawanjain

hero member

Activity: 2702

Merit: 716

Nothing lasts forever

Quote from: pakhitheboss on August 12, 2023, 02:23:29 AM

Quote from: Bitcoin Smith on August 12, 2023, 02:10:43 AM

Quote from: pakhitheboss on August 12, 2023, 01:55:28 AM

you do know the next pump would be triggered by Elon Musk.

Funny things happen too and imagine what if Elon comes with his own crypto called 'X'. Cheesy

Yeah, it is a 22 year old dream of Elon Musk to create a super app, which he plans to do with Twitter. The possibility of launching his own X crypto token has been denied by him. You can do a Google search and you would see a lot of articles surrounding this topic. He would integrate a few crypto into the platform and those would get a big push from the market. By the way the domain x.com was purchased by Musk before he created PayPal long back.

It's good that x.com is not banned by the Indian government thinking it as a porn site. I did saw an Instagram account saying it was banned but it isn't.
If x coin was launched by Elon I would definitely invest in it because Elon is doer and a project with active development, huge fame and support will surely get good profits.

pakhitheboss

hero member

Activity: 2156

Merit: 803

Top Crypto Casino

Quote from: Bitcoin Smith on August 12, 2023, 02:10:43 AM

Quote from: pakhitheboss on August 12, 2023, 01:55:28 AM

you do know the next pump would be triggered by Elon Musk.

Funny things happen too and imagine what if Elon comes with his own crypto called 'X'. Cheesy

Yeah, it is a 22 year old dream of Elon Musk to create a super app, which he plans to do with Twitter. The possibility of launching his own X crypto token has been denied by him. You can do a Google search and you would see a lot of articles surrounding this topic. He would integrate a few crypto into the platform and those would get a big push from the market. By the way the domain x.com was purchased by Musk before he created PayPal long back.

Bitcoin Smith

sr. member

Activity: 910

Merit: 284

Quote from: pakhitheboss on August 12, 2023, 01:55:28 AM

you do know the next pump would be triggered by Elon Musk.

Funny things happen too and imagine what if Elon comes with his own crypto called 'X'. Cheesy

pakhitheboss

hero member

Activity: 2156

Merit: 803

Top Crypto Casino

Quote from: Bitcoin Smith on August 11, 2023, 09:35:56 AM

Quote from: Bureau on August 10, 2023, 04:21:30 AM

Agreed with your point as most of my friends including myself has done the same thing. But, like me there are others who have questioned the existing financial system and have joined the Bitcoin band wagon.

Yep it is true, People see crypto trading as a very good part-time job however the bitter truth is most of them fell for the shitcoins.

If I am not wrong one of my friend asked suggestion about converting his BTC to SHIB after saw huge increase in the price so they all are just looking for short term gains not ready to look the real future.

Actually those who invested in shitcoin in the Bull market had made more profits than those who invested or kept holding on non shitcoins. I once invested in doge oin when it was dirt cheap and thanks to Elon Musk I did made a good profit. There was a time when Dogecoin was used as giveaway now it has stopped. You never know which shitcoin will pump next but you do know the next pump would be triggered by Elon Musk.

Bitcoin Smith

sr. member

Activity: 910

Merit: 284

Quote from: Bureau on August 10, 2023, 04:21:30 AM

Agreed with your point as most of my friends including myself has done the same thing. But, like me there are others who have questioned the existing financial system and have joined the Bitcoin band wagon.

Yep it is true, People see crypto trading as a very good part-time job however the bitter truth is most of them fell for the shitcoins.

If I am not wrong one of my friend asked suggestion about converting his BTC to SHIB after saw huge increase in the price so they all are just looking for short term gains not ready to look the real future.

pawanjain

hero member

Activity: 2702

Merit: 716

Nothing lasts forever

Quote from: cafter on August 05, 2023, 08:45:26 AM

many indian young people are lazy they want everything without doing anything. most of them follow big people or big influencers like warren buffet, some indian business coach like vivek bindra, etc.
they say bitcoin have no base, bitcoin is ponzi, bitcoin is a bubble, etc. and people listen them and be convinced that bitcoin is ponzi and spread every where like in friend circles, family, etc.
they do not do their own research, lazy people...

most of the big crypto youtuber are also don't have good understanding of bitcoin, they just search for crypto news on google and scroll every article and tell... there they done that, there they done that, this will pump, this will dump, etc. i quite watching those fake fuc*ing youtubers

I don't know where are you getting that from but India is one of the top countries investing in cryptocurrencies.
The number of people getting involved with crypto has only increased in the last 5 years.
Although majority of Indian population has still not invested in cryptocurrencies but so are other countries.
So I think it's not just India but all the other countries as well who think crypto is not a viable investment.

Bureau

sr. member

Activity: 490

Merit: 279

Quote from: pakhitheboss on August 10, 2023, 12:54:25 AM

This is how middle class works and most of us might be able to relate to what I am going to write. The first thing they do is find a decent job and after that take life insurance. Some of them do take medical insurance apart from what the company is providing them. Then they start with SIP wherein they set a goal for every SIP, an example of a goal: a bike, a downpayment/full payment for a car, and a down payment for a house. When they reach middle age they are surrounded by EMI which barely gives them any space to think about other investment options.

At this age they have kids and they want their kids to have good education. The next set of SIPs is for their kid's higher studies, although in order to have higher education they would need an education loan. The SIPs only provide support for the education expenses of the kid. By the time they are free of all kinds of burden they retire and does not want their retirement amount to be invested in private bank or mutual funds. They would invest in schemes run by the government. How can you then ask them to invest in Bitcoin or cryptocurrencies? The trend is changing but it will take another decade for Indians to go neck deep into Bitcoin investment.

Agreed with your point as most of my friends including myself has done the same thing. But, like me there are others who have questioned the existing financial system and have joined the Bitcoin band wagon. There are others who by taking risk have made a good amount of money through trading. There are people in our country who have started investing in cryptocurrency and this number will increase gradually. The problem that the upcoming generation is facing is uncertainty. Only the government can give more clarity and when it happens we might see a good amount of Indians investing in Bitcoin or other crypto.

pakhitheboss

hero member

Activity: 2156

Merit: 803

Top Crypto Casino

Quote from: Bitcoin Smith on August 09, 2023, 12:49:31 PM

Yeah gold is one of the best thing that we should have and as a matter of fact everyone should have at least 100 or 200gms of gold so in case of emergency they can use it as hedge to leverage some money but it cannot provide returns so it is not going to make you rich either and that is why middle class stuck into their financial status forever.

Real estate is very good especially in India but how much people can see the real estate as an investment because it needs huge capital but with bitcoin they can start with any amount they can so over the time the returns will be more than expected and they can realize it only if they are willing to look at the bitcoin price charts.

The only investment will cross every middle class is FD because they will have assured returns of 6% to 7% but with the inflation rate they are only paying out from their pocket at the end of year instead of getting any returns.

This is how middle class works and most of us might be able to relate to what I am going to write. The first thing they do is find a decent job and after that take life insurance. Some of them do take medical insurance apart from what the company is providing them. Then they start with SIP wherein they set a goal for every SIP, an example of a goal: a bike, a downpayment/full payment for a car, and a down payment for a house. When they reach middle age they are surrounded by EMI which barely gives them any space to think about other investment options.

At this age they have kids and they want their kids to have good education. The next set of SIPs is for their kid's higher studies, although in order to have higher education they would need an education loan. The SIPs only provide support for the education expenses of the kid. By the time they are free of all kinds of burden they retire and does not want their retirement amount to be invested in private bank or mutual funds. They would invest in schemes run by the government. How can you then ask them to invest in Bitcoin or cryptocurrencies? The trend is changing but it will take another decade for Indians to go neck deep into Bitcoin investment.

Bitcoin Smith

sr. member

Activity: 910

Merit: 284

Quote from: pakhitheboss on August 09, 2023, 04:51:23 AM

Gold is part of Indian culture, our mom, sister, and wife would know the best. If every Indian woman reveals the amount of gold they have then it would be more than the US reserve. Yes, I agree Indians do not buy gold for an ROI but as per my understanding, this gold is kept as a reserve in case of financial emergency. I still believe the only reason we Indians do not invest in crypto is because of the risk. As an Indian, I am aware of a few friends who are aware of Bitcoin but won't risk an investment. When I ask them why they would say there are other investment options available like gold, mutual funds and property. All the three are less risky investment than Bitcoin at the moment.

Yeah gold is one of the best thing that we should have and as a matter of fact everyone should have at least 100 or 200gms of gold so in case of emergency they can use it as hedge to leverage some money but it cannot provide returns so it is not going to make you rich either and that is why middle class stuck into their financial status forever.

Real estate is very good especially in India but how much people can see the real estate as an investment because it needs huge capital but with bitcoin they can start with any amount they can so over the time the returns will be more than expected and they can realize it only if they are willing to look at the bitcoin price charts.

The only investment will cross every middle class is FD because they will have assured returns of 6% to 7% but with the inflation rate they are only paying out from their pocket at the end of year instead of getting any returns.

Bureau

sr. member

Activity: 490

Merit: 279

Indians do invest in cryptocurrency. Infact they are the biggest investor of meme coins as through meme coins and with some luck they can achieve financial freedom. They might not be interested in Bitcoin but they are preety crazy about shit coins. I do not know why OP assumed that they are not big investors.

pakhitheboss

hero member

Activity: 2156

Merit: 803

Top Crypto Casino

Quote from: Bitcoin Smith on August 08, 2023, 09:18:17 AM

I partly agree with you because not everyone in the investment will never be going to get the same interest on a single asset which even applies to Gold that everyone believes it is a great asset however gold is not entirely in the interest of most rich people because they know it is more of store of value than an asset that may give returns to them.

But as I said we are not really at the worst place in the crypto adoption, it will take time for sure, but we are not going to miss the train for sure.

Gold is part of Indian culture, our mom, sister, and wife would know the best. If every Indian woman reveals the amount of gold they have then it would be more than the US reserve. Yes, I agree Indians do not buy gold for an ROI but as per my understanding, this gold is kept as a reserve in case of financial emergency. I still believe the only reason we Indians do not invest in crypto is because of the risk. As an Indian, I am aware of a few friends who are aware of Bitcoin but won't risk an investment. When I ask them why they would say there are other investment options available like gold, mutual funds and property. All the three are less risky investment than Bitcoin at the moment.

Bitcoin Smith

sr. member

Activity: 910

Merit: 284

Quote from: elevates on August 07, 2023, 08:28:58 AM

Cryptocurrency is not gold, a property, or a physical product with value. It is invisible and many in India believe it to be thin air which cannot have an intrinsic value. Many believe it is a bubble that will explode when it is ripe. Many are not capable enough to understand its technology and many do not have the capability to use it in their favour.

I partly agree with you because not everyone in the investment will never be going to get the same interest on a single asset which even applies to Gold that everyone believes it is a great asset however gold is not entirely in the interest of most rich people because they know it is more of store of value than an asset that may give returns to them.

But as I said we are not really at the worst place in the crypto adoption, it will take time for sure, but we are not going to miss the train for sure.

pakhitheboss

hero member

Activity: 2156

Merit: 803

Top Crypto Casino

India is a combination of different people with a lot of differences in religion, beliefs, and ethnicity. There is more than one reason why Indians are not investing in crypto. The first being without crypto investment people are still coming out of poverty. This is nothing but upskilling and uplifting everyone with the government policy. Another reason is crypto is not easy to understand for everyone in India. Being Indian does not mean everyone here has a technological understanding. That being said according to a survey a lot of crypto investors in India are from the age bracket of 20 to 25 years. We cannot expect the generation above 50 to understand cryptocurrency now and neither they will agree to it. There are a few who are still tech-savvy and do know the benefits. We need another 5 years and you would see a lot of change. I strongly believe the government policy would change and more Indians would be into crypto. All we need to do is wait and watch as this is not America or a European country.

elevates

sr. member

Activity: 756

Merit: 390

Cryptocurrency is not gold, a property, or a physical product with value. It is invisible and many in India believe it to be thin air which cannot have an intrinsic value. Many believe it is a bubble that will explode when it is ripe. Many are not capable enough to understand its technology and many do not have the capability to use it in their favour. That I believe is the most significant reason people in India stay away from crypto. The next probable reason is the government of India which has now made it look like an illegal technology by using mainstream media. In the end, the new tax slab is another reason why people in India are afraid in investing in crypto

avikz

legendary

Activity: 3080

Merit: 1500

Bitcoin adoption in India can only grow if our government support it with favorable law and regulations. But unfortunately Indian government is quite negative about cryptocurrency and had imposed 30% tax on it. Honestly I didn't sell my bitcoins after this law came into effect.

So with this mindset of the government, adoption cannot grow. However, India has a good amount of population of cryptocurrency users. But they want to keep it secret because of all these nonsense tax imposition.

teosanru

hero member

Activity: 2114

Merit: 619

Quote from: cafter on August 05, 2023, 08:45:26 AM

many indian young people are lazy they want everything without doing anything. most of them follow big people or big influencers like warren buffet, some indian business coach like vivek bindra, etc.
they say bitcoin have no base, bitcoin is ponzi, bitcoin is a bubble, etc. and people listen them and be convinced that bitcoin is ponzi and spread every where like in friend circles, family, etc.
they do not do their own research, lazy people...

most of the big crypto youtuber are also don't have good understanding of bitcoin, they just search for crypto news on google and scroll every article and tell... there they done that, there they done that, this will pump, this will dump, etc. i quite watching those fake fuc*ing youtubers

I think a big reason is a negativity coming from Government, first, the government of India gives its stance against cryptos which obviously makes the TV media houses report it in that way, then people turn to youtube to look for extra knowledge then these so-called YouTubers & business coaches give their negative opinion around bitcoin to get quick views because the government said so. All these create a negative aura around bitcoin and people can then not think of buying cryptos. Also, another fact is the cyclic nature of bitcoin itself. Indians always have that tendency to be very safe with their money. For them even stock markets was for long just a way of losing money and most of the people started investing in last 4-5 years only. So cryptos which gives quick returns but also falls very quickly is a nightmare.

Bitcoin Smith

sr. member

Activity: 910

Merit: 284

Firstly, this is not only the problem on Indians, the condition is just same all over the world.

That is why they are called as influencers, they have the power to manipulate mass people into their way of interest for two reasons, one is they may get financial benefits, or they don't know anything at all.

Actually, India is not really worse in the adoption rate as per the report

Source: https://blog.chainalysis.com/reports/2022-global-crypto-adoption-index/

But we can do a lot better if government try to be supportive for crypto investors instead of hammering them with 30% tax.

Finally, about the YouTubers there are some really knowledge ones too, but they don't have huge subscriber count as others but they know about cryptocurrencies and blockchain technology, so you are looking at wrong persons.

cafter

full member

Activity: 448

Merit: 225

many indian young people are lazy they want everything without doing anything. most of them follow big people or big influencers like warren buffet, some indian business coach like vivek bindra, etc.
they say bitcoin have no base, bitcoin is ponzi, bitcoin is a bubble, etc. and people listen them and be convinced that bitcoin is ponzi and spread every where like in friend circles, family, etc.
they do not do their own research, lazy people...

most of the big crypto youtuber are also don't have good understanding of bitcoin, they just search for crypto news on google and scroll every article and tell... there they done that, there they done that, this will pump, this will dump, etc. i quite watching those fake fuc*ing youtubers

Topic: why indians afraid to invest in crypto (Read 310 times)