Will India be more progressive in the coming years? - page 3.

Bezobraznike

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Quote from: Janation on July 30, 2020, 11:44:10 PM

I din't think we should expect something from this.

The users of cryptocurrencies in India would increase but I don't think it would impact the market that much. Some are talking about the economy effect of it but I don't think it would be that huge. It is a good venture and I hope more and more would come to use it since they have a huge population.

Janation I can't agree with you, with huge population countries like India have power to affect the market a lot. We can just
say there's no enough Bitcoins for all the people who live there, and can you imagine what would happen with price if every
person from there buys BTC? Countries like India can rise demand to the roof!
India could become more progressive in the coming years, but will it happen? I think it's possible with good organizations,
smart ideas, but when I see them struggling with banning crypto-currencies I don't think they are opened enough for new
technologies.

bits4books

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Crypto is not a religion but i like it

The lifting of the ban on one thing != a sharp increase in prosperity in the country.
Sorry, but there are far more problems of a more serious order than the ban on cryptocurrency that would immediately cause its removal "rapid growth and unprecedented development". We can say that at the moment cryptocurrency is a boon for the countries of the 1st world where there are no global problems and people need individual things and not a total fix.

Janation

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I din't think we should expect something from this.

The users of cryptocurrencies in India would increase but I don't think it would impact the market that much. Some are talking about the economy effect of it but I don't think it would be that huge. It is a good venture and I hope more and more would come to use it since they have a huge population.

Shasha80

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I am not an Indian citizen but very interested in the economic development in India country. Many people argue that if densely
populated population will make many of its citizens poor. In my opinion the opinion is not entirely correct, because if we see
China with over population does not make their country poor. So I am very sure that India will be more progressive in the future.
Especially the cryptocurrency community in India is quite large, I am optimistic that cryptocurrency is legalized and widely adopted
in India, will trigger India's economy getting better.

imstillthebest

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Quote from: Nhor1011 on July 30, 2020, 01:23:52 PM

India has an advantage in terms of population and if they continue using cryptocurrency and legalize it then there is a possibility that they become more progressive in the coming years. Also India is a county that has a different strategy to become successful and help their economy not to collapse totally.

i think large population isnt an advantage but the more population the more the country will experiences poorness . its like when a family is large , on my place there are many of them and i often see them in difficult situations .

i dont know if whats the strategy of india and why it is differ to others but i like that , that sounds exciting to witness if what are they going to show next in order to survive and to progressive .

FlightyPouch

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Quote from: jrrsparkles on July 30, 2020, 09:23:11 AM

Quote from: FlightyPouch on July 30, 2020, 08:22:51 AM

Quote from: jrrsparkles on July 30, 2020, 03:38:49 AM

Quote from: perfect999 on July 29, 2020, 11:35:31 AM

Indian government has always been confused and indecisive about bitcoins and their usage because earlier they banned bitcoins and made a clear statement that no transactions are allowed. Suddenly all the exchanges that were developed had to shutdown and later they said that they don't appreciate bitcoins but allow the transactions.

the government needs to understand that in a country where the tech is already so far behind, if they won't allow exchanges an other startups to operate how do they see any progress at all? I mean they should be encouraging such startups while they are actually against them which doesn't give positive signals about progress in coming time.

Now the restrictions have been lifted, even Binance started to develop their trading platform in India so they bought an exchange called Wazirx few months back so definitely there is a potential market in India but as you said government proposed a draft to ban cryptos completely so its like confused status there.

I think we should not just base the economic growth of India to the incoming investors of the country to crypto currencies. There are other factors that the country is now following China in this terms. Right now articles are stating that the country's GDP will lose its momentum this 3rd quarter.

Link here.

Almost every country is going to face that situation in 2nd and 3rd quarter probably for some years due to the crisis made by covid 19 but particularly about crypto market we can see the growth, more exchanges started to operate which will bring more revenue than before so there is a lot of potential there for investors.

It is true that the investors of crypto currencies as well as crypto markets are increasing, but what I am trying to say is that there are other ways that India made their economy grow. They are mainly affected by the pandemic and I guess if that didn't happen their economy would continue to rise and their acceptance of crypto currencies will help that as well.

Nhor1011

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India has an advantage in terms of population and if they continue using cryptocurrency and legalize it then there is a possibility that they become more progressive in the coming years. Also India is a county that has a different strategy to become successful and help their economy not to collapse totally.

reliable

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Quote from: whyrqa on July 30, 2020, 06:28:09 AM

India is already showing phenomenal economic growth rates and I will not be surprised when India follows China's example and forms the practical third largest economy in the world. I believe that in the near future countries such as India and China will offer the world cheaper raw materials and products, which will make India a world leader.

Since India has a large population so this can also act as an advantage if utilised and groomed the people well. So, there is no labour problem, land is available and in rural areas if the electricity and water supply can be connected well then, many industries could be setup their so the cost will of manufactured products will be less and can be exported at reasonable prices.

dady12

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Quote from: Salauddin1994 on July 30, 2020, 09:04:11 AM

India is second-most populous country after China. India will be more progressive in the coming years due to its good connectivity with China. Even after suffering so much from the effects of the epidemic, the Indian government will be able to develop their country very quickly. India is already considering legalizing crypto. If India supports crypto, they will quickly become more progressive.

If India supports crypto and people adopt crypto in their regular life then Indian economy really has a chance to be revived in the next 3-5 years

abhiseshakana

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Quote from: whyrqa on July 30, 2020, 06:28:09 AM

India is already showing phenomenal economic growth rates and I will not be surprised when India follows China's example and forms the practical third largest economy in the world. I believe that in the near future countries such as India and China will offer the world cheaper raw materials and products, which will make India a world leader.

I think India is too inclined to America to imitate the steps of China in developing its economy. The alignments and military alliance taken by India is a trap of India's progress in the future. Comparing India and China is not appropriate, these two countries are on different trajectories. China is far from being overtaken by India. Until now the Indian industry still relies on imports, unlike China, which is more independent. India is busy with GDP while China is focused on building GNP.

Without a grand strategy, India will only be a price taker not a price maker. India's desire to become a new regional power is precisely a mistake because its national resilience is still very weak, poverty rates are still high, the government should focus on strengthening national resilience rather than on the global political scene.

jrrsparkles

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Quote from: FlightyPouch on July 30, 2020, 08:22:51 AM

Quote from: jrrsparkles on July 30, 2020, 03:38:49 AM

Quote from: perfect999 on July 29, 2020, 11:35:31 AM

Indian government has always been confused and indecisive about bitcoins and their usage because earlier they banned bitcoins and made a clear statement that no transactions are allowed. Suddenly all the exchanges that were developed had to shutdown and later they said that they don't appreciate bitcoins but allow the transactions.

the government needs to understand that in a country where the tech is already so far behind, if they won't allow exchanges an other startups to operate how do they see any progress at all? I mean they should be encouraging such startups while they are actually against them which doesn't give positive signals about progress in coming time.

Now the restrictions have been lifted, even Binance started to develop their trading platform in India so they bought an exchange called Wazirx few months back so definitely there is a potential market in India but as you said government proposed a draft to ban cryptos completely so its like confused status there.

I think we should not just base the economic growth of India to the incoming investors of the country to crypto currencies. There are other factors that the country is now following China in this terms. Right now articles are stating that the country's GDP will lose its momentum this 3rd quarter.

Link here.

Almost every country is going to face that situation in 2nd and 3rd quarter probably for some years due to the crisis made by covid 19 but particularly about crypto market we can see the growth, more exchanges started to operate which will bring more revenue than before so there is a lot of potential there for investors.

Salauddin1994

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India is India's second-most populous country after China. India will be more progressive in the coming years due to its good connectivity with China. Even after suffering so much from the effects of the epidemic, the Indian government will be able to develop their country very quickly. India is already considering legalizing crypto. If India supports crypto, they will quickly become more progressive.

FlightyPouch

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Quote from: jrrsparkles on July 30, 2020, 03:38:49 AM

Quote from: perfect999 on July 29, 2020, 11:35:31 AM

Indian government has always been confused and indecisive about bitcoins and their usage because earlier they banned bitcoins and made a clear statement that no transactions are allowed. Suddenly all the exchanges that were developed had to shutdown and later they said that they don't appreciate bitcoins but allow the transactions.

the government needs to understand that in a country where the tech is already so far behind, if they won't allow exchanges an other startups to operate how do they see any progress at all? I mean they should be encouraging such startups while they are actually against them which doesn't give positive signals about progress in coming time.

Now the restrictions have been lifted, even Binance started to develop their trading platform in India so they bought an exchange called Wazirx few months back so definitely there is a potential market in India but as you said government proposed a draft to ban cryptos completely so its like confused status there.

I think we should not just base the economic growth of India to the incoming investors of the country to crypto currencies. There are other factors that the country is now following China in this terms. Right now articles are stating that the country's GDP will lose its momentum this 3rd quarter.

Link here.

whyrqa

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India is already showing phenomenal economic growth rates and I will not be surprised when India follows China's example and forms the practical third largest economy in the world. I believe that in the near future countries such as India and China will offer the world cheaper raw materials and products, which will make India a world leader.

Latviand

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Quote from: raidarksword on July 26, 2020, 01:56:39 AM

Hence the ban lifted off in India, i believe in the process of progress will be good on their country and it will be a good opportunities to come in the crypto sectors that will bring good benefits to them. Adoption will be slowly in progress and everything should be taken one at time to make a successful progress for coming years in India. More Indians are more delighted and more interested on crypto hence their government now allows in their country.

Adoption is never easy to achieve if people are not that knowledgeable towards something at you are rooting for.

If they are not willing to adopt bitcoin and you will not let them to become into it, then it takes a lot of time for them to completely adopt cryptocurrency in their economy. India is one of those developing countries, and probably it is not that hard for them to recognize cryptocurrency as an another type of currency. India is also a business-minded when it comes to that and when it talks about money they will not hesitate to study about it.

The only thing that matters to the government is its benefits on legalization of the use of cryptocurrency.

AjithBtc

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Making something success in a highly populated nation isn't a easy task, by the time if everything goes in the right track then in a very short time one can make the best return out of the investment. Maybe that's the reason Tim Draper is with the plan of investing on Indian Ventures. Already India had got a large number of startup functioning on the blockchain technology. Indian government too seems to be supportive compared to the past. So all these positive factors can make a big change in the crypto industry of India in the coming years.

jrrsparkles

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Quote from: perfect999 on July 29, 2020, 11:35:31 AM

Indian government has always been confused and indecisive about bitcoins and their usage because earlier they banned bitcoins and made a clear statement that no transactions are allowed. Suddenly all the exchanges that were developed had to shutdown and later they said that they don't appreciate bitcoins but allow the transactions.

the government needs to understand that in a country where the tech is already so far behind, if they won't allow exchanges an other startups to operate how do they see any progress at all? I mean they should be encouraging such startups while they are actually against them which doesn't give positive signals about progress in coming time.

Now the restrictions have been lifted, even Binance started to develop their trading platform in India so they bought an exchange called Wazirx few months back so definitely there is a potential market in India but as you said government proposed a draft to ban cryptos completely so its like confused status there.

panganib999

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The acceptance and adaptation of India when it comes to the usage of Bitcoin was really great but honestly there is still a confusion on their perspective because all of a sudden they are changing up their minds about the acceptance of usage but prohibiting the use as a mode of payment. Indecisive about what they are really into when it comes to Bitcoin usage which must be settled first before seeing what their progress would be since they have already allow Bitcoin usage on their country.

But the adaptation and acceptance of cryptocurrency in India does not momentarily state that they will already get into a progress. Although adaptation of crypto might have an impact on their economy, but still there are other factors that must be considered to totally make their country progressive and those are dependently rely on their government and people.

Kasabus

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Quote from: perfect999 on July 29, 2020, 11:35:31 AM

Indian government has always been confused and indecisive about bitcoins and their usage because earlier they banned bitcoins and made a clear statement that no transactions are allowed. Suddenly all the exchanges that were developed had to shutdown and later they said that they don't appreciate bitcoins but allow the transactions.

the government needs to understand that in a country where the tech is already so far behind, if they won't allow exchanges an other startups to operate how do they see any progress at all? I mean they should be encouraging such startups while they are actually against them which doesn't give positive signals about progress in coming time.

The government of India in the first place should change its perspective on bitcoin or cryptos so that progress for their country will be achieved. I believe that crypto and this blockchain technology could create a great advantage towards the country's improvement if crypto will be legally adopted and will be fully supported by the government.

STT

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Quote

It is Muslim Country

Its minority muslim thats why Pakistan exists, they have a different faith. Doesn't mean the country has to be authoritarian in their regulations even if the country has much of the population following a faith but its probably important to note that country does seem to take this stance of heavy enforcement of every policy dynamic and section of the economy. Im not sure India could be described as capitalist now or in future but I have that view of many countries with large central banks which dictate policy, it applies to large parts of europe which is also a trading syndicate. We dont have that many countries in perfect freedom

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