Bitcoin Forum

India is the IT outsourcing hub of the world, there are tens of thousands of tech engineers graduating every year. The IT sector tops the share market..Bangalore,chennai, Hyderabad  and whats not..

But even with all of these what is the role of our country in cryptocurrency ecosystem?

There are hundreds of alt coins and not a single one is from India.

only one or two exchanges are there in India..

There are projects like Etherium, Blockchain 2.0 applications etc..Does anyone from India play any role in it?

I feel something is really holding this nation back inspite of its abundant IT human resource.

Whats your opinion ..

There are few nw exchanges working for India only - I think bitcoin in India is working good.

Problem being India does not have an opensource community at all. Zero is the opensource contribution happening.
I can say there are a few Indians in the opensource community that do contribute, but that number is negligible.

The problem is that people in India mostly think about the profit factor and earning money. the social factor is verry little (Will see some defenders crawl out of the woodworks now.)

Exchanges really dont matter when it comes to bitcoin and the technology involved in it .

The only thing that is holding back India is the human factor in social contribution in the field of opensource technology.

P.S- i am talking about Indians living in India, not Indians who moved abroad who have a high opensource participation, especially in the linux kernal dev.

High internet cost & poor speed is a major factor according to me. Most people do not have the luxury of surfing the net freely without coughing up huge internet bills. This prevents them from knowing about things or technologies that are yet to go mainstream. The knowledge sphere is too restricted.

Lack of seed funding prevents this in a big way.
India does not earn at the same level as people abroad.
From what I have seen, techies working with companies, do not involve with projects outside work hours. If they do, their commitment is shoddy and in most cases, nothing gets done.
Even at a planning stage for an OS pack, India tends to talk about how to make money from the final product. In the event that monetization cannot happen, people lose interest.

I have been unable to find a single techie who would be willing to contribute to FOSS and then work on the monetary aspects after product development.
And without FOSS, there will always be limited innovation from India.

I completely agree with Benson.
No one here wants to experiment and try out new things.

I heard about Indian cryptocoin 'LakshmiCoin' at initial development level which rose $2 Million in funding.
But the plans were put on hold by the developers because RBI policy on crypto currenciees was (and is) not clear. They said they'll resume working on LakshmiCoin only after RBI clears its stand.

They failed to raise the funding.
The RBI have already replied to them stating that they are not the authority on Bitcoin to give permission. The note stated that they would need to approach other government agencies for permission. They have not mentioned which one.

This was my prediction from day 1. The next agency that may involve is SEBI, but even they will back away in few months.

We know where the problem lies.

The question is how can we change the  thought process? What initiative can we as a small community do to encourage more participation in the opensource community?

These questions needs solutions.  FOSS needs to be actively promoted.

The FOSS community has to be funded. Perhaps a crowd funding tool aimed specifically for this.  ::)

The thought process will change once people see rewards from FOSS.

With the IRS declaring bitcoin is an asset Does Securities exchange board of India have a role to play?

IRS in India??? Have not heard about this.

SEBI is the market regulator, they have a long arm and can jump in anywhere.
Apart from Bitcoin :)

I meant the IRS of united states, since they have given a legal status i thought our people would also follow the same footsteps.

Cannot see India following that route anymore.
The US is no longer the worlds policymaker and I think India Inc.. is driving that quite aggresively... Eg.. Devyani Khobragade.

We may follow the China path or something similar to Singapore.
Or in the rarest of cases, we may overturn most beliefs and become the Bitcoin haven.

Cannot see any other routes apart from these.

 :D

You are beating the wrong bush.

We have IT crowds yes, but good hackers? No
If one is so good they can easily earn a lot more migrating to silicon valley and that is what they do!
Every good indian hacker I know of, no longer lives in India.

Lack of hackers due to
brain drain & sad education due to
bad culture (inwards: lack of practical knowledge; outwards: lack of infrastructure & funding) due to
nonsense governance due to
stupidity of people.

The Blockchain could have been invented in india but never the Bitcoin.
Research can be done in india but not invention.

+1

You summed it up quite nicely ..! But we have to understand that India is shaping up and going through a period of change..! and this E-commerce and usage of Internet is expanding each day in India..! and Websites are emerging This is the time for India to shine..!

Together lets make our country shine

Am cleaning this up to make it even simpler.
http://coinsecure.in/this-wallet/

Its a wallet to accept payments through Coinbase and then answer the callback along with page redirection.

It has been requested before, should be open sourcing the code in a day or two.

It validates the withdrawal address as well.

Looks like its not generating any thing now.

Clicked start? Seems fine to me. Its the same code u tested few days back.

Just needs a code cleanup is all.

When you put in the email address the  frame goes blank.

My bad. Was changing some var names.
Its fixed now.

I work in this "IT outsourcing industry", let me tell you the truth about the industry as a whole --- it relies on and merits mediocrity -- most so called IT people cant code to save their life.  

Companies like Infy/Wipro work on numbers - their attitude is if 1 brilliant person can do it -- fill it with 10 mediocre people with low salary and they can achieve it. I can even give you a practical example -- there has been a recent surge on big data -- many of the so called "java experts" (cause hadoop implementation is written in java) jumped in. The most they can deliver is a working code, right from the book. Companies dont want to hire a Yahoo employee cause with his salary they can hire 10 freshers -- shove java and hadoop down their throats, make them work 12 hrs to get something working.

That said, there are intelligent programmers too but many of them wont work until they have a real monetary advantage being presented to them. They will put in hours and hours into some new technology from Oracle just so that they can learn and demand more money in IT using the niche skills.

Alternatively, bitcoin doesnt really interest them ..cause there is no company which considers it a niche skill and will pay 10s of lakhs to hire them.

We are working on a bitcoin project and hiring at competitive pay.

Please get in touch with me, as we have been look for quality programmers and more importantly, passionate about the wide spread adoption of bitcoins.

Looks like the BJP might form the new govt
What does that mean for cryptos regs in India?

I can absolutely stand b your word. It is full of IT coolies over innovators.

Are you serious?..their subject syllabus is decided by the universities..How do you make them accept it in first place.

+1

The syllabus may be decided by the uni's, but the interest in students is normally generated by the professors themselves.

Some Examples:
My cuz did a stall on Bitcoin for her IT fair in Coimbatore at her college. More than 2K leaflets were given out there.
Another example was another cuz studying in Japan, where her lecturer from Germany took few classes on Bitcoin for them.

I have received 3 requests from uni's around South India and 1 from Cal to talk to their students about Cryptocurrencies.

To get universities to start talking about Bitcoin, target lecturers, give small amounts as a reward to them. That will jumpstart a movement across colleges in India.

According to me giving guest lectures or getting engaged in expos is much different from adding bitcoin academically.
Even Vikram presented guest lecture on bitcoin to IIT on behalf of BAI. They also paid for return tickets and stay. But I doubt this getting to main stream academics till govt take some stand on it.

Thats a really great plan and if we really go ahead and do this we are next only to MIT's project of distributing bitcoins to students...We will be on the headlines of coindesk...and if our students come forward and develop apps, Thats really nice to think about..

IIT which place?

Students will help dramatically with the build up of the Bitcoin infrastructure.
While reaching out to them directly is a massive effort, especially considering the demographics of India, the low hanging fruit would be to reach out to lecturers and economists.

People who have direct access to the students.

Putting some Bitcoin in their hands and getting them to understand the incentive could bear far greater results.

IIT Patna.
From what I heard there was an announcement in college regarding lecture and any one could attend. Vikram said about 200 turned up. I would say it is a big number.

When did it take place ?

Next time please upload the lecture videos on youtube..

Soon vikram ji is going to be Andreas Antonopolous of India..

In march from what i remember. He was honored with a momento - so nice people :)

No video coverage this time. I would say he is a great public speaker and not every one has that talent !

India is one of the top outsourcing destinations in the world. I say "one of" because recently I've found out that Ukraine has become the most outsourced country in Europe, but of course, there are differences between these two countries. If you are inrerested, you can find more information on https://diceus.com/outsourcing-ukraine-india-differences-top-destinations (https://diceus.com/outsourcing-ukraine-india-differences-top-destinations). Speaking about cryptocurrency, I think, India needs more time to start working with it to the full extent of its power.

No idea about this matter as I haven't thought about it deeply before.

Nobody can do any unknown thing without knowledge same incase of IT graduates in India. They are never educated on this issue.

What can we hope from the country whose Govt itself discourages influx of btcs?

Its better that india is still out of this shit. Or it will have already suffered money crisis.

Indian crypto scene bad . I cant believe this thing> Indians should have been pioneering this tech given the number of engineers that it produce. I have not even heard of any conference that is happening. Its makes me feel sick. The govt should be promoting blockchain tech in the colleges instead they are just sleeping. Same age old thinking of getting the tech from abroad and progress> No front leading approach. <<0o>>

Government itself acts wired here. They don't want the cryptocurrencies business to flourish in India so they call it as 'ponzi she's' etc. Still traders don't have clear info on how to tax on Crypto profits but F*cking Income tax department is sending tax notices to many traders.

Being a dull man in any country is just like moving into hell https://heightagebio.com/ (https://heightagebio.com/)

One of the reasons thats holding back is the unclear governments regulation on cryptocurrencies. That being said, we are a erc20 marketplace based in bangalore and one of the first successful ICOs in india. Check out here https://www.wandx.co

yup but it is not ,it is a habit in india education system that they focus on cram learning and talented youth prefer to go outside for better job or go for startup .if you notice ico,there is a recent growth in indian taking part in ico,many have done successful startup crowdfunding from outside and it is a good sign that blockchain is spreading in the country.

Indian Govt Uncertain regulation is causing Blockchain and Cryptocurrencies innovation in major downfall and many entrepreneur are unclear and fearful starting a company

I think it’s the exposure to these tech which is holding back the IT soldiers. I live with 3 IT professionals and all coders and 0 have interest in blockchain. This is all bcz it has not picked up in India. Only after blockchain is declared by developed countries it will be recognized in India and students will start looking at it seriously . No monetary benefits means no participation in India. I seriously hope that blockchain and all is picked up in India or we will lose

I agree.My daughter is also studying and preparing for being in IT sector and i have noticed a great interest towards BITCOIN and CRYPTOCURRENCY in her .So it is actually a great idea.

There have been alt coins based out of India but weren't successful. One of them which is being traded actively is WAND.

indian government decision completely failed in taking a decision now they banned all cryptocurrency exchangers they will launch their own coin so people are in panic mode govt is killing the innovation

Goverment is playing with indian music and cuture for more warning shots sidhu Djpunjab Warning Shots (https://djpunjab.app/punjabi-songs/song/warning-shots-sidhu-moose-wala-dtyjc.html) :-[ :-[ :-[ :-[

Its rumour India not gonna launch any crypto exchanges

That something is nothing but Indian government created fear on blockchain based innovation so many young entrepreneurs are afraid of touching crypto currencies