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Title: how was liquidity achieved in india? Post by: simple_love on March 13, 2016, 08:27:46 AM bitcoin has recently started picking up in india. i was looking at trade volumes on coinesure and it is impressively high (1000s of btcs).
i am curious to understand how the early amount of bitcoins were available in india? were there so many miners in india who had bitcoins in india even before exchanges started operating? it is a very interesting concept to discuss, because a decentralized asset (controlled-by-all) spiking adoption in india when no one really owned any earlier is quite a challenge. i really appreciate the people here driving the adoption forward. given how mining difficulty has gone so high in recent times,have people in india mining with so much hardware? Title: Re: how was liquidity achieved in india? Post by: Benson Samuel on March 14, 2016, 06:19:37 AM We have couple of large users/ partners plugged into our API.
We offer some pretty neat addons for custom requests, etc and the rest of the trades are organic or bot based. This was an expected outcome as we built Coinsecure. India did lack infra for most of this. Our next few steps are gonna be even cooler in terms of adoption and volumes. Title: Re: how was liquidity achieved in india? Post by: simple_love on March 15, 2016, 02:09:22 PM We have couple of large users/ partners plugged into our API. We offer some pretty neat addons for custom requests, etc and the rest of the trades are organic or bot based. This was an expected outcome as we built Coinsecure. India did lack infra for most of this. Our next few steps are gonna be even cooler in terms of adoption and volumes. what do you mean by bot based trades? when we see volumes on coinsecure (exchange data) does each transaction mean at least one person involved was a human customer? by users and partners you mean indian people and companies who had stock of bitcoins that offered to sell on Coinsecure? i am just struggling to understand how "bootstrapping" happened in such an enormous way when the volume of bitcion in india was so little. it was a real challenge, kudos to early bitcoin companies. Title: Re: how was liquidity achieved in india? Post by: Benson Samuel on March 15, 2016, 02:29:03 PM We have couple of large users/ partners plugged into our API. We offer some pretty neat addons for custom requests, etc and the rest of the trades are organic or bot based. This was an expected outcome as we built Coinsecure. India did lack infra for most of this. Our next few steps are gonna be even cooler in terms of adoption and volumes. what do you mean by bot based trades? when we see volumes on coinsecure (exchange data) does each transaction mean at least one person involved was a human customer? by users and partners you mean indian people and companies who had stock of bitcoins that offered to sell on Coinsecure? i am just struggling to understand how "bootstrapping" happened in such an enormous way when the volume of bitcion in india was so little. it was a real challenge, kudos to early bitcoin companies. Humans run those bots :), through our api. The transactions and logic are set by users. We just provide the platform and tools to make that happen easily. Really can't disclose more than this without getting into nitty gritties, that I wont be getting into :) But the overall tempo of Bitcoin trades across India has improved dramatically. And its growing faster each day. Title: Re: how was liquidity achieved in india? Post by: simple_love on March 15, 2016, 03:48:25 PM We have couple of large users/ partners plugged into our API. We offer some pretty neat addons for custom requests, etc and the rest of the trades are organic or bot based. This was an expected outcome as we built Coinsecure. India did lack infra for most of this. Our next few steps are gonna be even cooler in terms of adoption and volumes. what do you mean by bot based trades? when we see volumes on coinsecure (exchange data) does each transaction mean at least one person involved was a human customer? by users and partners you mean indian people and companies who had stock of bitcoins that offered to sell on Coinsecure? i am just struggling to understand how "bootstrapping" happened in such an enormous way when the volume of bitcion in india was so little. it was a real challenge, kudos to early bitcoin companies. Humans run those bots :), through our api. The transactions and logic are set by users. We just provide the platform and tools to make that happen easily. Really can't disclose more than this without getting into nitty gritties, that I wont be getting into :) But the overall tempo of Bitcoin trades across India has improved dramatically. And its growing faster each day. fair enough :) i feel that if all the bitcoins we trade in india were india mined, then govt will not give any troubles. that will be a superb self sustained ecosystem. govt can later regulate foreign transfers if they want. and yes, it is obvious bitcoins is picking up seeing how companies like zebpay,unocoin,coinsecure,btcxindia are still up and running enthusiastically :) obviously there seems to be a future. Title: Re: how was liquidity achieved in india? Post by: dashingriddler on March 16, 2016, 08:28:50 AM It is extremely difficult for the government to trade what coins are India mined and what are not. Especially if they start digging into this after a few years when they want regulation in place.
They probably end up taking declarations from users than actively regulate bitcoin. Title: Re: how was liquidity achieved in india? Post by: Rotten Egg on March 18, 2016, 10:31:47 AM bitcoin has recently started picking up in india. i was looking at trade volumes on coinesure and it is impressively high (1000s of btcs). Could you plz point me to the link where u have got this figure? Is it 1000+ BTC per day?i am curious to understand how the early amount of bitcoins were available in india? were there so many miners in india who had bitcoins in india even before exchanges started operating? Read more about escrow.ms.it is a very interesting concept to discuss, because a decentralized asset (controlled-by-all) spiking adoption in india when no one really owned any earlier is quite a challenge. i really appreciate the people here driving the adoption forward. given how mining difficulty has gone so high in recent times,have people in india mining with so much hardware? Lots of ancient bitcoin miners are from India. They mined 50 BTC per block with their CPU/GPU. Some freelancers earned hundreds of BTC when BTC used to cost less than 10 USD.Title: Re: how was liquidity achieved in india? Post by: simple_love on March 18, 2016, 06:37:25 PM Could you plz point me to the link where u have got this figure? Is it 1000+ BTC per day? coinsecure tweeted once that they have traded 3k+ BTC in one month. Quote Read more about escrow.ms. are you saying one person was responsible for achieving liquidity? how did he get bitcoins? Quote Lots of ancient bitcoin miners are from India. They mined 50 BTC per block with their CPU/GPU. Some freelancers earned hundreds of BTC when BTC used to cost less than 10 USD. this is interesting, but quite expected in a country with a billion people and lots of techies. do you know this for a fact or you just hypothesising? Title: Re: how was liquidity achieved in india? Post by: xavier77 on March 18, 2016, 06:44:53 PM Gambling is banned in India right? I wonder if CC is allowed
I dont know much about Coinsecure getting 3k or more trades in India, but what escrow.ms was doing is still their are so many users from India who are doing buying and selling through so many sites which are not able to get recorded. I totally agree that Indians are also the user of Bitcoin from early age but that was very little knows by most of them. Yes youre right Title: Re: how was liquidity achieved in india? Post by: zencomp on March 18, 2016, 06:56:09 PM Could you plz point me to the link where u have got this figure? Is it 1000+ BTC per day? coinsecure tweeted once that they have traded 3k+ BTC in one month. Quote Read more about escrow.ms. are you saying one person was responsible for achieving liquidity? how did he get bitcoins? Quote Lots of ancient bitcoin miners are from India. They mined 50 BTC per block with their CPU/GPU. Some freelancers earned hundreds of BTC when BTC used to cost less than 10 USD. this is interesting, but quite expected in a country with a billion people and lots of techies. do you know this for a fact or you just hypothesising? I dont know much about Coinsecure getting 3k or more trades in India, but what escrow.ms was doing is still their are so many users from India who are doing buying and selling through so many sites which are not able to get recorded. I totally agree that Indians are also the user of Bitcoin from early age but that was very little knows by most of them. Title: Re: how was liquidity achieved in india? Post by: simple_love on March 18, 2016, 08:02:34 PM I dont know much about Coinsecure getting 3k or more trades in India, but what escrow.ms was doing is still their are so many users from India who are doing buying and selling through so many sites which are not able to get recorded. I totally agree that Indians are also the user of Bitcoin from early age but that was very little knows by most of them. i am not 100% sure about the 3k number, but i remember seeing a tweet like that. i apologise if this is not true. please feel free to delete my post if it isn't true. all this constructive discussion is to understand the potential of bitcoin in india and how "early" adopters we are/will be. for example, i was pleasantly surprised to hear that there were indians were way ahead of this forum who got into bitcoin early on. Title: Re: how was liquidity achieved in india? Post by: Benson Samuel on March 18, 2016, 08:04:33 PM I dont know much about Coinsecure getting 3k or more trades in India, but what escrow.ms was doing is still their are so many users from India who are doing buying and selling through so many sites which are not able to get recorded. I totally agree that Indians are also the user of Bitcoin from early age but that was very little knows by most of them. i am not 100% sure about the 3k number, but i remember seeing a tweet like that. i apologise if this is not true. please feel free to delete my post if it isn't true. all this constructive discussion is to understand the potential of bitcoin in india and how "early" adopters we are/will be. for example, i was pleasantly surprised to hear that there were indians were way ahead of this forum who got into bitcoin early on. Close to 3k, but not yet. That looks like the forecast for next month :) "December 2015" : "2848.316", "January 2016" : "2830.204" Title: Re: how was liquidity achieved in india? Post by: bitcoinisfurture on March 29, 2016, 05:51:22 AM I hope it would have crossed 3K by now.
What is the status for Feb 2016 & March till today? Title: Re: how was liquidity achieved in india? Post by: Benson Samuel on March 29, 2016, 08:04:25 PM I hope it would have crossed 3K by now. What is the status for Feb 2016 & March till today? Probably April.. . :( https://coinsecure.in/howMuch { "dashboard" : [ { "Total" : "14816.5384", "2015 Total" : "7113.78", "2016 Total" : "7702.7584" }, { "January 2015" : "47.866", "February 2015" : "63.796", "March 2015" : "17.582", "April 2015" : "25.728", "May 2015" : "104.502", "June 2015" : "96.262", "July 2015" : "90.108", "August 2015" : "145.62", "September 2015" : "324.378", "October 2015" : "1003.381", "November 2015" : "2346.241", "December 2015" : "2848.316", "January 2016" : "2830.204", "February 2016" : "2049.8077", "March 2016" : "2718.3217" } ] } Title: Re: how was liquidity achieved in india? Post by: bitcoinisfurture on March 30, 2016, 06:47:52 AM I hope it would have crossed 3K by now. What is the status for Feb 2016 & March till today? Probably April.. . :( https://coinsecure.in/howMuch { "dashboard" : [ { "Total" : "14816.5384", "2015 Total" : "7113.78", "2016 Total" : "7702.7584" }, { "January 2015" : "47.866", "February 2015" : "63.796", "March 2015" : "17.582", "April 2015" : "25.728", "May 2015" : "104.502", "June 2015" : "96.262", "July 2015" : "90.108", "August 2015" : "145.62", "September 2015" : "324.378", "October 2015" : "1003.381", "November 2015" : "2346.241", "December 2015" : "2848.316", "January 2016" : "2830.204", "February 2016" : "2049.8077", "March 2016" : "2718.3217" } ] } 2718 till 29th March. 2 days to go. Almost there for 3000. Hoping it could accomplish in this month itself. Since little price has dropped chance is there that CS will be able to make it in March itself. Good going. Title: Re: how was liquidity achieved in india? Post by: Benson Samuel on March 30, 2016, 03:03:27 PM I hope it would have crossed 3K by now. What is the status for Feb 2016 & March till today? Probably April.. . :( https://coinsecure.in/howMuch { "dashboard" : [ { "Total" : "14816.5384", "2015 Total" : "7113.78", "2016 Total" : "7702.7584" }, { "January 2015" : "47.866", "February 2015" : "63.796", "March 2015" : "17.582", "April 2015" : "25.728", "May 2015" : "104.502", "June 2015" : "96.262", "July 2015" : "90.108", "August 2015" : "145.62", "September 2015" : "324.378", "October 2015" : "1003.381", "November 2015" : "2346.241", "December 2015" : "2848.316", "January 2016" : "2830.204", "February 2016" : "2049.8077", "March 2016" : "2718.3217" } ] } Bitcoinrates.in (http://www.bitcoinrates.in) was launched in August 2015 :) Bitcoinrates :) and 2 integration's on the API happened in Aug. Title: Re: how was liquidity achieved in india? Post by: Benson Samuel on March 31, 2016, 12:11:19 PM 2718 till 29th March. 2 days to go. Almost there for 3000. Hoping it could accomplish in this month itself. Since little price has dropped chance is there that CS will be able to make it in March itself. Good going. Sooooo.. How many in April? :D Looks like you made 3k happen for us with your prediction. "March 2016" : "3004.0187" Title: Re: how was liquidity achieved in india? Post by: bitcoinisfurture on March 31, 2016, 06:26:02 PM 2718 till 29th March. 2 days to go. Almost there for 3000. Hoping it could accomplish in this month itself. Since little price has dropped chance is there that CS will be able to make it in March itself. Good going. Sooooo.. How many in April? :D Looks like you made 3k happen for us with your prediction. "March 2016" : "3004.0187" Congrats :D. CS achieved the target a month before itself then its predictions. For April 3500 isn't far now. :) Also any idea what is the stats for Zebpay & Unocoin for March ? Title: Re: how was liquidity achieved in india? Post by: Divinespark on April 01, 2016, 04:12:52 PM Not sure what the exact stats for Unocoin are on the volume front, but they are now claiming 60k+ users
Title: Re: how was liquidity achieved in india? Post by: bitcoinisfurture on April 01, 2016, 06:37:24 PM How many users does CS have?
Title: Re: how was liquidity achieved in india? Post by: Benson Samuel on April 01, 2016, 06:40:27 PM How many users does CS have? Quite a large number, but waiting for it to become a lot more impressive before announcing. Once we get to it, we should have a ticker on the site that will live-update this data as well. Our next few moves should make that happen. So far, we have not publicly disclosed these numbers, but we will be quite soon. Title: Re: how was liquidity achieved in india? Post by: Benson Samuel on April 10, 2016, 05:54:49 PM 2718 till 29th March. 2 days to go. Almost there for 3000. Hoping it could accomplish in this month itself. Since little price has dropped chance is there that CS will be able to make it in March itself. Good going. Sooooo.. How many in April? :D Looks like you made 3k happen for us with your prediction. "March 2016" : "3004.0187" Congrats :D. CS achieved the target a month before itself then its predictions. For April 3500 isn't far now. :) Updated the server, and it shows "April 2016" : "2130.3304" :D and that is till the 10th. Am thinking a good stretch target for April would be 5k ish. We had to make some small changes to /howMuch, it will now update every 6 hours. Title: Re: how was liquidity achieved in india? Post by: bitcoinisfurture on April 17, 2016, 09:26:57 AM This will be gonna a moment of celebrations. Sure CS will achieve 5k this month the way its building the platform in India .
What is the current number? Title: Re: how was liquidity achieved in india? Post by: Benson Samuel on April 17, 2016, 12:11:11 PM This will be gonna a moment of celebrations. Sure CS will achieve 5k this month the way its building the platform in India . What is the current number? "April 2016" : "3634.0244", Title: Re: how was liquidity achieved in india? Post by: bitcoinisfurture on April 17, 2016, 12:27:10 PM This will be gonna a moment of celebrations. Sure CS will achieve 5k this month the way its building the platform in India . What is the current number? "April 2016" : "3634.0244", Wow that's amazing. 14 days to go including today for April month. It may cross 6000 it seems. Also more people are becoming part of bitcoin revolution @ CS it seems. Fantastic !!! Title: Re: how was liquidity achieved in india? Post by: bitcoinisfurture on April 29, 2016, 05:37:54 AM What is the status of it till day? Is it reached close to 6k?
Title: Re: how was liquidity achieved in india? Post by: Benson Samuel on April 29, 2016, 05:54:07 AM What is the status of it till day? Is it reached close to 6k? "April 2016" : "6834.4044" Gonna 7K for sure :D Title: Re: how was liquidity achieved in india? Post by: bitcoinisfurture on April 29, 2016, 06:00:39 AM What is the status of it till day? Is it reached close to 6k? "April 2016" : "6834.4044" Gonna 7K for sure :D Wonderful. CS is breaking their own records quickly and moving ahead. Keep it up guys. Also CS would have cross 20 Cr+ turnover by this month isn't ? Title: Re: how was liquidity achieved in india? Post by: bitcoinisfurture on May 04, 2016, 09:42:58 AM How much finally CS make it in April 2016?
Title: Re: how was liquidity achieved in india? Post by: bitcoinisfurture on June 02, 2016, 06:11:50 PM Was May better than April? How much was May 2016?
Title: Re: how was liquidity achieved in india? Post by: Benson Samuel on June 02, 2016, 06:16:23 PM Was May better than April? How much was May 2016? Nope, closer to what we had reached in March. "March 2016" : "3110.0247", "April 2016" : "7137.1274", "May 2016" : "3353.6584", Aprils largest volumes were clustered around few dates, so I think it may have been a one time user buying/ selling rather than a trader. Title: Re: how was liquidity achieved in india? Post by: bitcoinisfurture on June 02, 2016, 06:23:17 PM Was May better than April? How much was May 2016? Nope, closer to what we had reached in March. "March 2016" : "3110.0247", "April 2016" : "7137.1274", "May 2016" : "3353.6584", Aprils largest volumes were clustered around few dates, so I think it may have been a one time user buying/ selling rather than a trader. Ooppps that's 50% drop . April was really a fantastic month and hope June will be way much better than May. Also Auto deposit any time soon? Title: Re: how was liquidity achieved in india? Post by: Benson Samuel on June 02, 2016, 06:29:36 PM Was May better than April? How much was May 2016? Nope, closer to what we had reached in March. "March 2016" : "3110.0247", "April 2016" : "7137.1274", "May 2016" : "3353.6584", Aprils largest volumes were clustered around few dates, so I think it may have been a one time user buying/ selling rather than a trader. Ooppps that's 50% drop . April was really a fantastic month and hope June will be way much better than May. Also Auto deposit any time soon? Yeah, we studied the drop a bit and realized that there will be months like those too :) Yep, at the verge of something with Auto Deposit. But its kinda queued up with a bunch of other stuff as well. |