Bitcoin Forum

So today is the remarkable day for Indian Economy.
Indian Stock Exchange closed at all time high 30,135, first time 30k+. Moreover, Bitcoin crossed $1400 in domestic market of India.
So how you all guess Indian Economy in coming future. Is it going to be the new super power on international frontier? Does India seeing its best government ever?
Waiting for views....

If Indian mass adoption of bitcoin will be apply, this could the first step for them to help their economy status. Because, this could be the  beginning of spreading out the demand of bitcoin to their country. Like bitcoin now was close to 1400$ so it really can be the super power  on international currency.

Yeah they might be. Bitcoin is holding up good and so as to Indian economy. Their programs such as digital India is revolutionary and it will help them capture more capitalism within India. They have self motivated businesses so it might bring in major change in their economy. Thoughtful topic.  :)

What do you expect us to say regarding domestic affairs of a country? are they going to adopt bitcoin in grand scales or what exactly?
They're more than 1B people but all of them combined won't bring $1B capital into the bitcoin's market.

Bitcoin trading at a premium in India does have its reasons... Capita controls imposed by the government, demonetization removing cash, etc.
I don't think it is related to the Indian stock markets hitting all time highs.

If I recall correctly Modi did a currency recall that made Unocoin gain more popularity in India.
A strong stock market means people will look at it as an investment possibility with their excess profits it has room for development like China with it's population development is inevitable if they get some good urban planning done.

India has huge potential and huge problems with the poverty and education.
Indian GDP is too far away from China GDP and the Indian populaton is close to 1 billion.
I can`t say anyhting about the Indian government...

how this si related to bitcoin? if their stocks market is doing well i would bet that they would ignore bitcoin, because they are investing there, if the opposite was true, there would be more chance for them to focus on bitcoin

acording to some chart on the web their bitcoin volume(they are investing less on bitcoin now) is also lower than a month ago, i guess they are on stanby with bitcoin at the moment

Exactly mate. Demonetization in India was highly impact their economy and I believed Indians are now getting into stock market and bitcoin. Its good for bitcoin ecosystem though, it just shows the Indians are really into bitcoin investment temporarily. I don't know when the Indian government will lift up the demonetization mandate, but I hope if it is lifted, bitcoin will still continue to flourish in India because we all know that is in one of he most populous nation and image just half of the population into having bitcoin, that is huge impact indeed.

Indian people still not so much know about bitcoins and no services are accepting bitcoins yet. So people who ever will buy only for investment purpose. If some local services start accepting bitcoins then demand for bitcoins will automatically grow. But as of now, the volume is very less.

For years, India was considered to be one of the more important markets for Bitcoin to penetrate because of the country’s poor banking system, declining financial platform and weak infrastructure. Recently, the demonetization of 500 and 1,000 bank notes initiated by the Indian government led to a nationwide financial crisis, as banks and ATMs ran out of cash to dispense.

In addition, by early 2016 Indian Bitcoin exchanges such as Zebpay and Unocoin began to see a spike in their user base and trading volumes. One key factor that would allow the Indian Bitcoin industry to grow at a rapid rate similar to China, South Korea and Japan is the legalization of Bitcoin as legal tender and currency. If Bitcoin becomes legalized in India by the end of May as many predicts, and millions of new users from India emerge as a result, Bitcoin price will likely surge in the mid-term.

INDIA COULD HOST THE NEXT BITCOIN BOOM...

Indian bitcoin market is highly isolated one, means bitcoin prices are just determined by local people unlike how major exchange's liquidity are working. So now wonder on how big margin bitcoin prices are leading or lagging. But it none of way influencing world bitcoin market as per last 6 months happening.

Unlike USA or Europe the literacy level in India is very low and percentage of poor people in India is more even half of world top 20 riches are from India. They are learning now and smart phones may help bitcoin to spread among those 1.25 billion people rapidly.

In India the stock market growing high and crossing the historical 30k+ is something good. In my opinion it is same as that China made with the bitcoin. This is something a fake volume that will go back to the previous trading level. The present government had made big changes in the country but on implementation it always makes the country people suffer.

Still India have a huge problem with unemployment and lowest salaries plus education problem. They should think about people who are living at villiages and having a lot of problems where to take food and how to survive. Some of their people don't even know what is bitcoin, because of the poorness, not having access to web. Maybe it's a good sign but goverment should think about them first and slowly bring all of them to standarts that will make them more smarter and having proper life conditions

I don't know much about the India economy but be careful, most of the time you will see analyst praising when a new all time high is reached but they don’t take into account the factor that make that supposed growth as big as it is and sometimes it is not growth at all.

I think that as soon as India can get itself out of its cash crunch situation, its economy will boom again.

China will not keep up with the competition of India because India simply has more manpower and its labour is dirt cheap. China is trying its hardest to manipulate its currency to stay low but the free market forces will simply drive it up again as the Chinese Yuan is increasingly becoming traded on the open markets.

Paytm and other payment processors will benefit from this boom in my opinion as the people in India are already used to using these apps to conduct day to day trading activities. Bitcoin in India? It's very possible as well.

I think that after that black money crackdown with the Prime Minister of India taking out the 1000 and 500 rupee notes the economy of India was in pretty deep trouble. But now the situation although isn't a lot better has at least improved a bit which is probably why the stock market has hit 30k+. There is a lot of renewed optimism in my opinion, even though they had to wait a long while for the cash to arrive.

It's projected that India will exceed China in population in a few decades, meaning that even if it isn't a superpower it will have the world's largest labour force. As Jherek above me said, it'll really be a tough job for China to catch up to India once the Indian population exceeds China's.

There is optimistic sign for Indian economy. According to RBI in 2017-2018 the GDP growth rate is estimated as 7.1%. GDP growth is projected for 2017-2018 is 6.6%-7.5%. As per the IMF GDP growth rate is projected as 6.6%. At present India is at 6th position in world economy and it will surpass Germany and reach to the 4th position by 2022. It is valid to say that India is the fastest growing economy in the world at present.

majority of people who have any bitcoin are only using it as an investment so there is no difference there between Indian and the rest of the world. and since their trading volume has been rising for over 6 months now i think it is safe to say that their awareness of bitcoin has been growing. there is already a big exchange in India that i have heard of which has a lot of customers. and also there is localbitcoins that has been showing a large volume.

India is 1.2 bln of people,multiculture it is continent,India is mostly agriculture and most people are very poor,His infrastructure is very poor.Now many weserness comanys moved his prodution there becouse of raising cost of work in China.For sure it is land with great potencial but still there is high corruption .Economic data are just a paper data but India has much brghter future than USA thay just need muh more support his own companys and invest in more common education

I think India's economy has plenty of more room to grow. There is 1.2 bn people there. developing nation economies always grow and incredible rates. if you believe in Ricardian Equivalence, India's economy catching up to the western world is definitely not an impossiblity

If this thing continuous then there is no doubt India economy will flourish in the future but being super power, who knows.  Well if poverty in India is perfectly taking care of then probably we are seeing the best administration in Indian history.  But does not this same administration cause a lot of people to lose their wealth?

The biggest problem in India is corruption, and without paying money, no work can be done by government officers. For each everything most of these people expect money, and if you don't pay, then you work never happen. Now government should do something about this corruption otherwise it will be hard to open up new businesses. Yes, currently they are the best and doing better than China but not sure so easy they can overtake western countries economy.

Corruption always exists even in the developed country but the rate of corruption is low that doesn't affect the government's economy that much, it's really hard to eradicate corruption to its root if you're expecting the government to do it, what if the government itself is the one who has done corruption? Not talking about India only though, it's for all those countries in this world which still have high rates of corruption that affect their economy directly.
And one thing, it's really possible for India to overtake the western's economy, just if India keeping on growing their economy this significant.

It isn't just India, my friend.  The whole world has been in a bull market for years now.  Look at where the NASDAQ is, and the Dow.

Good for India is what I say.  But watch out, because stock markets also crash and don't always reflect what's going on in the economy with 100% accuracy.  Are any of you in Indian stocks?

Im not an expert but investing heavy in third world country stocks doesn't make any sense at all from a big capital perspective. What big capital wants is to boost their own stocks in the country of origin and the third world country to finance the dividend by cheap labour force.

Imho thats just a signal that other markets in the world are in relativly bad shape and are financialised too much or starting to have a huge problems with being too risky investments in comparison.

A large user base of bitcoin is already established in India, and yes, it may have helped to boost India's economy somehow, but for the economical boost to be attributed in bitcoin alone is absurd. India is known for its manpower services, so it might be one big portion of the pie. Good for our Indian brothers in here though it's too early to think that India is heading towards a superpower in the economic scene.

The recent changes like demonetization and recovering taxes that were pending have really changed and helped the economy of India but still there is a long way to go. Not a lot has changed here and still inflation continues to rise. The bitcoin market in India is not very huge but still the exchanges here are doing a great business. The population is the second largest in the world which makes the economy suffer and many people try to invade taxes by using Swiss bank accounts.

The current rise is 13% which is just the start. Hope to see it getting better from now on.

Historically the top countries in terms of economic were always India and China thanks to the great amount of population and resources they had, that changed with the advent of the industrial revolution but as those countries get modernized they are slowly retaking those positions.

I am hoping that India will keep doing the remarkable work on economy at all times. This will give exposure to other currencies and commodity into Indian market leading to more stronger economy. If it does happens then people out their might give preference to use of digital currencies slowly invading into crypto future.  ;D

Like that way governments will realise that what is exactly popular and what to implement in it.

The Indian economy may be doing well as a whole, you must give a lot of care must be given to the individual when talking about how prevalent something like cryptos can be in an economy like that, since the wages are low and there isn't always good access to electronics or internet connections. While the average is drawn down due to rural villages and so, there needs to be a lot more inter-connectivity for these kinds of thing to be viable. They're doing a good job and something is going well within their borders, but there are still steps to be taken.
Also this is a really old thread, holy moly.