Bitcoin Forum

Why aren't the Indians/Chinese companies accepting Bitcoin yet?

I mean there's lots of work for outsourcing repetitive tasks cheaply to these countries. I think that could be the next potential market for BTC adoption.

Because these companies don't "pay wages" in Bitcoin yet, and that's because people don't demand to get paid in Bitcoin yet, and that's because people don't value bitcoin more than fiat yet. Solve the riddle and Bitcoin replaces all the fiat of the world.

Bitcoin is still a bit more hassle to deal with than regular money. Workers from these countries are usually paid a pittance where every cent counts, they would need to be able to convert the coins to their local currencies immediately. Bitcoin will definitely make things easier once it's fully integrated into the system.

Not sure of China but in India Bitcoin is still in grey area and not legal, I read some news some time back that an exchange was closed due to the fact that the Bank they used for their businesses closed their account and the reason Bank provided is that they will not serve Bitcoin businesses (https://www.cryptocoinsnews.com/indian-bank-shuts-bitcoin-exchange-btcxindia/), so I suppose until Bitcoin gets a legal status in these countries no companies will adopt it.

Also that both country have alot of people and most people there live in poverty and have no idea about the current technology . How could you expect people that lives in poverty accept bitcoin? you atleast need some internet connection and computer to access your bitcoin and it is easier to pay them in cash

My reasnon is that bitcoin is not popular yet, most of  them don't understand it yet and the price is too volatile. The workers wouldn't accept it.

china is more concentrate to boost their cny, than bitcoin, why they should care about a global currency when they can milk it via mining and dump it for increasing their revenue, and make their economy strongher?

many other country are only waiting for bitcoin to take off(for them is still a test), but if everyone is doing this, then bitcoin will never take off you know...

Bitcoin is still have to cope up with regular money.  In India Bitcoin is still in grey area and not legal ,until it gets a legal status in these countries no companies will adopt it. Once it fully integrated into the system ,it will definitely make things easier. ;D
It may break lines of Share market,cover those business also .People will invest in bitcoin instead of share market at least for short term. ;D :)

The Chinese are sending mix signals out into the world. The mouth is saying.. Bitcoin is unofficially banned and the hands are doing the mining on a super scale.

If you look at the Chinese exchanges, you might think they have a booming Bitcoin community, but that is fake too.

It makes you wonder where all those mined coins are going... They mine and we buy. Loads of dollars going into their covers daily.