Bitcoins usage in India

[goxed]

Guys,

Anyone from India? I want to gauge interest in $ / INR transfers through bitcoins. I have not noticed many people from India on this forum.

Thanks

[1715683379]

1715683379

[1715683379]

1715683379

[1715683379]

1715683379

[Graet]

My partner in crowncloud.net is Indian, seen a few others around, there is certainly interest.

I'll point  SpeedBus to your thread
best wishes
Graet

[CrownCloud]

Yep, I'm here from India

Got a few friends here who mine, and trade a bit, INR -> BTC and BTC -> INR

Mostly they're amazed by its value and how it works and stuff

[Stephen Gornick]

I have not noticed many people from India on this forum.

There are a few threads on the topic, ... but there is a striking under-representation (proportionately) of those actually from India involved with Bitcoin.

 - http://bitcointalk.org/index.php?topic=87000.0
 - http://bitcointalk.org/index.php?topic=58524.0

Now that Mr. Bitcoins has a cash deposit method for India (deposit cash at any HDFC bank), consumer-level access to bitcoins is easier:
 - http://www.MrBitcoins.com

There are methods for cashing out to bitcoin, electronically, as well.  There are now several methods to cash out bitcoin into PayPal (e.g., FastCash4Bitcoins.com does this).  CA VirtEx exchange allows withdrawal to Payza.  Payza funds may then be withdrawn to banks in India.  And, of course, most banks accommodate international wire transfer but the fixed fees for that are expensive and that method makes sense only when larger amounts are involved.

I've started to see individuals offering to do trades on LocalBitcoins (Mumbai, New Delhi):
 - http://www.LocalBitcoins.com

With so many remittances going to India, local buyers looking to invest/accumulate bitcoins in exchange for cash will likely find that there can be some good buying opportunities over time as individuals discover that bitcoins can work for remittance as well.

Because bitcoins are non-reversible, it would make sense for someone to offer cash-out service where the payment is made via mobile payments network or with cash deposited in the recipient's bank account.  An example of that occurring elsewhere is in the Philippines, where Mang Sweeney's exchange will convert bitcoins with one of the methods being sending the money through GCash (Globe's mobile money transfer network).

[Update: There is another thread describing ECurrencyZone, which accepts cash deposit at banks in India for buying bitcoins and provides cash out to a bank account in India or cash deposited into a bank account:

 - http://bitcointalk.org/index.php?topic=102735.0 ]

[labestiol]

Does anyone here already tried to buy coins using MrBitcoins ?
Is it reliable ?
Is it the only way to buy bitcoin in India ?

[Meddol]

It's really great to see how Bitcoins are really used worldwide and keep expanding all the time.

[spndr7]

I am from India,I mined 450 BTC in 5-6 days around june 2010 but never knew this experimental p2p currency will rule

[kangasbros]

We made a country listing, which shows that there are some exchangers already in India: https://localbitcoins.com/country/IN

However the locations for India are pretty difficult... We try to improve that soon.

[wisard]

I too haven't seen a lot of interest for bitcoins in India.
I've been trying to sell 150 bitcoins locally since the past month with hardly any success.
Listing on localbitcoins got 1 inquiry for 10 bitcoins in the entire month. And I'm from Mumbai, not some remote place.

[knight22]

Hey guy! Your help would be very appreciated for the Hindi translation of the multi language wallet Multibit.

http://translate.multibit.org/
http://multibit.org/

Thank you!

[weex]

You might make a posting about Bitcoin in the FSF Tamil Nadu group. You can find their mailing list at http://fsftn.org/mailing-list

Back when I wrote some things on free software they seemed to pick them up pretty well.

If BTC becomes useful for remittance there will be a need for people to sell BTC elsewhere and wire it back as INR.

[ganowns]

You might make a posting about Bitcoin in the FSF Tamil Nadu group. You can find their mailing list at http://fsftn.org/mailing-list

Back when I wrote some things on free software they seemed to pick them up pretty well.

If BTC becomes useful for remittance there will be a need for people to sell BTC elsewhere and wire it back as INR.

Hey guys. I'm from India too. There is one way in which it is possible to increase public awareness about bitcoin: techfests conducted by the IITs, NITs, and other engineering colleges. These fests allow individuals from outside (i believe) to hold lectures and workshops - an effective platform to spread knowledge about bitcoins. An added bonus is that college students in top colleges are receptive to new ideas and a great many of them show interest in building startups.

Initially disseminating knowledge in a few techfests like Shaastra (IIT-Madras), Tryst(IIT-Delhi), Daksh (SASTRA University), Techfest 2012-13 (IIT-Bombay), etc.

Any comments/suggestions/ideas?

[sanjoea]

Yep, I'm here from India, I am new to bitcoin industry, since recently i came to know about bitcoin

[chocomav]

I was checking out some bitcoin related sites (mining, games) and upon checking their popularity with alexa.com, noticed that in a couple of instances India was the most popular country with regards to visitors for those websites. So, there does seem to be quite a bit of (focused) interest from bitcoin enthusiasts in India.