Impact of India and Indian election on the price of bitcoin or for that matter any alternative-crypto-currency is nothing but zilch. Yes, that is correct. Bitcoin and alt-crypto currency related communities, companies and trading-markets are almost extinct from India. Either majority of them have moved their base to other countries, where bitcoin is a legal, or shut down their business altogether.
India had no impact on bitcoin globally and give current situation there wont be any in near foreseeable future as well.
There might not be much of a difference at this moment when it comes to the global market of bitcoin, but who would have imagined India to be a force in the IT industry twenty years back, i am sure no one would have predicted that, but it is a global leader in IT down the line and with the immense population , i bet it could be a major force in the bitcoin market too, the problem is the political parties without any vision and until that is sorted out there is not much hope. On a funny note, there was an impact on the price of LPG, after the elections they have increased the price  . History till date is concerned India's impact on bitcoin is next to null. As far as future impact is concerned then anything is possible and anyone could predict anything. There is no remedy for wishful thinking without basis. Coming towards IT industry, it is better not to comment on it as it will diverse current topic. From time to time, empirical data has shown clear impact of an election on not only LPG price but also on other commodities as well. |
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As you all know that 17th LokSabha election is just around the corner and most probably it will be held during the month of May and June.
Also a lot of people are aware that the current government is exploring opportunities to regulate cryptocurrencies in India. They have appointed a law firm to submit suggestions and Subhas Chandra Garg panel also submitted a report. Deliberations are ongoing on regulating (not banning) cryptos are ongoing.
Do you think there will be any positive impact on the crypto prices in India if the current government wins again? Or do you think a new government will treat cryptocurrencies in a better way? Share your views!
Impact of India and Indian election on the price of bitcoin or for that matter any alternative-crypto-currency is nothing but zilch. Yes, that is correct. Bitcoin and alt-crypto currency related communities, companies and trading-markets are almost extinct from India. Either majority of them have moved their base to other countries, where bitcoin is a legal, or shut down their business altogether. India had no impact on bitcoin globally and give current situation there wont be any in near foreseeable future as well. |
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I think that the major hurdle here is still in terms of trust.
The fact that you're funding someone internationally, who you may have never heard of before, while taking a huge counter party risk whenever you send funds through a irreversible payment method that cannot be recovered if the other party goes rogue means that people tend to be more cautious, and credit/investments thus becomes scarce.
This may be less of an issue nowadays with a lot of projects being more transparent with the team and all that, but that doesn't lessen the fact that there are still plenty of rogue projects that use fake team profiles etc. to raise funds. The fact that international legal recourse is difficult also sort of limits the sovereignty of what investors can do. But at the end of the day, the benefits of raising funds through BTC compared to traditional IPOs are obvious, and these hurdles I think are only a matter of time before they are overcome.
In addition to that there are other things which are influential to the market. Any single major player or group could change the direction of market at will. Recent upward surge in bitcoin and many alt-coin is proof. Thus some investor may find it lucrative with highest possible risk. |
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It is better to stay away from the market as you never know this could be pump and dump. There are reasons as you don't know who pumped so much money without any reason in crypto. Was it a single investor or group of investors who are behind this. Nowadays it has became necessity to be watchful about incidents happening in the market. Without any analysis of them investing in market would be sheer wishful thinking.
My two cents.
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Before the second peak bitcoin took the world by storm and suddenly everyone was talking about this new found gold/oil in form of digital crypto currency. The gold rush before that peak such powerful that investments from all over the world was pouring in from all walks of society globally. Unfortunately the correction happened after that peak was so brutal that many lost their hopes towards bitcoin forever. However those who were regular or familiar with the bitcoin world were aware of such volatility and somewhat prepared for it as well. Thus those veteran did not lose their hope. Bitcoin peaked somewhere around 17k USD to 20k USD and now it is somewhere around 3.5k USD - 5k USD. Many investors have lost huge amount of money who were not considering potential loss due to uncertainty.
What is your opinion and observations, about hurdles faced regarding raising funds, by someone who wants to establish business based on bitcoin? How difficult it has became to convince investors to put their money in bitcoin or alt-crypto based project?
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Over the period of time bitcoin has showed so much volatility that no serious entrepreneur would even consider to touch it as reliable. However investor an entrepreneur with nerves of steel will be ready to participate. One of the major obstacle crypto-currency or for that matter bitcoin faces is its second after-peak correction. That after-peak correction was so shocking for many investors who did not understand how crypto-currency work or investors who assumed bitcoin or crypto as usual investment tool got their fingers burnt. Thus any new player would be having difficult task in convincing investors in a project based on bitcoin.
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If you had 10000$ where would you invest it? I'm hoping for 10x in about 2 years, how would you personally split that money? There are so many altcoins that I dont know which to pick, I remember the top 5 altcoins from years ago and now they are all gone, so should I only invest in BTC end ETH or others like NEO, ADA and EOS?
I would have invested in the more traditional ways like shares, bonds, debentures than in altcoins. Given the situation liquidation of crypto-currency is becoming real pain, my person observation is that if liquidation is concern then staying away from the crypto(any type) is better other wise invest 1000 dollars in the Bitcoin and remaining accordingly. |
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One more person from Delhi has been arrested by the Pune Police in connection with the Gainbitcoin scam. The person is from the Vikaspuri area Delhi. Looks like person was one of those super elite members of this scam. Unfortunately this news has not been covered in mainstream English or Hindi news media. It is covered by only one newspaper from the maharashtra. Full information about the new source is: https://www.esakal.com/pune/one-arrested-case-bitcoin-delhi-162312What's the name of the arrested person? It is SurendraSingh Alag from Vikaspuri Delhi area. So far 10 persons have been arrested in connection with this case. |
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One more person from Delhi has been arrested by the Pune Police in connection with the Gainbitcoin scam. The person is from the Vikaspuri area Delhi. Looks like person was one of those super elite members of this scam. Unfortunately this news has not been covered in mainstream English or Hindi news media. It is covered by only one newspaper from the maharashtra. Full information about the new source is: https://www.esakal.com/pune/one-arrested-case-bitcoin-delhi-162312 |
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Till now we have no news or policy about those so called crypto-currency ban so far. Even if govt bans crypto peer to peer trading will still be active (this will be considered an illegal). Looking at current trend in crypto trade in our country, all incentives from the crypto has been almost evaporated.
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There is no reason to believe that USA is a failed nation on any parameter. In fact it is THE place to be in this world. It is the land of opportunity for everyone. That is why people have been moving to the states and making their fortune. US is the country which is maintaining more and more world order is in fact is successful state.
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Current time is not so good for cryptocurrency as govt is too much excited towards crypto in general. Thus unless there is a change in attitude towards crypto things will not be much bright for cryptocurrency
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i saw that many people in india earning money from trading . so i think i should start trading but i dont know how to start . i saw many trading videos but didn't understand . is trading so hard ? . can anyone teach me trading or give me a link where i can learn about trading . Thanks in advance
AFAIK there was someone in Mumbai who was conducting such courses on crypto-currency trading. You may want to check from this perspective. It has been quite a long time since I heard about that course though. |
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Very few of us have seen first rise and nose-dive of bitcoin. Then came the tremendous growth report of bitcoin which forced the world to take bitcoin and alt-coin seriously. This tremendous growth soon started to get correctly. That is from 16000 USD to ~6200 USD correction has happened so far. As as of now the prices have remained stable about 6000 USD.
Do you think this the better time to go for bitcoin purchase spree again? As from the bitcoin price history bitcoin has shown tendency to spike periodically.
Considering the bitcoin novelty has worn off across the glob, Now there is sufficient awareness about the bitcoin and crypto. what could be the driving factors If yes then what could be the driving factors for the growth? As previous factors may be less significant this time.
as i write this comment, the market has declined on steep dive, literally, now is the time to purchase or buy more bitcoin, as the rule may apply, buy when the price gets low and sell when the price increase. who knows, after this dive, the price will start to soar and as more and more traders who are gonna buy crypto, the supply will decrease therefore creating a fluctuation in the current market. Only if one studies the market movement on weekly basis and monthly basis then it seems that market prices are moving upwards. However quarterly basis or more than that shows that prices are in 6200 USD - 6500 USD range bracket. Bitcoin market is volatile and few percent changes are quite common. Here we are discussing about whether bitcoin has got correction after its fall from 17000USD to ~4000USD. Some may skeptical current correction is real correction and that further correction is expected. |
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I do not understand why everyone is panicking. The only losers are the ones who believed Bitcoin will never rise again. From few pennies to Mt. Gox's tragedy to the fall from $600 to $200 and so on. Those who sold at deap are crying tears.
Correct! From any seasoned bitcoin player, this is in fact the better time to go on buying step by step. prices are stable and correction has happened. The only direction we could expect is upward. |
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Very few of us have seen first rise and nose-dive of bitcoin. Then came the tremendous growth report of bitcoin which forced the world to take bitcoin and alt-coin seriously. This tremendous growth soon started to get correctly. That is from 16000 USD to ~6200 USD correction has happened so far. As as of now the prices have remained stable about 6000 USD.
Do you think this the better time to go for bitcoin purchase spree again? As from the bitcoin price history bitcoin has shown tendency to spike periodically.
Considering the bitcoin novelty has worn off across the glob, Now there is sufficient awareness about the bitcoin and crypto. what could be the driving factors If yes then what could be the driving factors for the growth? As previous factors may be less significant this time.
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One needs to get few things straight. NO crypto exchange in this world is all good and trustworthy. Not in India nor international exchange will guarantee about your crypto or money. If you take bittrex which is International exchange based in US, you will notice that there rules are so stringent and account recovery is so pathetic that one may consider them as out right thief. However If you look from company perspective you need to keep your account safe. If you loose the credential or lose a double authentication then user is screwed. It is better to speak directly with zebpay associate than over email.
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Localbitcoin is not easy place to sell your bitcoins/satoshis. As it turns out if a buyer is interested in the deal then you need to put your bitcoins in escrow kind of account of localbitcoin. If buyer cancels the deal last moment then your bitcoins will be stuck there with localbitcoin and it will be cumbersome to get back to your wallet again.
At this moment if you could find a bitcoin trading group on telnet or whatsapp then again trust is bit issue. Looks like selling in person is better if someone from those bitcoin/altcoin trading group is in near vicinity.
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Okay, I'm locking this pole and thread as well, Some good points and inputs were shared by members. Thank you all for your inputs.
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With latest update on zebpay-app it looks like zebpay is closing down their operations in India soon due to the RBI directives. Well the writing was on the wall since last few months as RBI and Indian Govt maintained their stern attitude towards the crypto in general. With blanket ban on crypto to cash conversion it become very difficult for bitcoin and crypto community to survive.
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