Dam! i hate that movie so much.

India  has always  faced this problem of trust. Scams are rampant, and people dont emphasize much on trust.   

It is gona be  hard to build the trust of this community but i am sure that enough of us  getting together  can build that trust. 

Well there are always stupid people in the world , and stupid  people do what stupid does. and no rich brat is gona be able to stop this cryptocurrency force.  They can try but they will all fail in the end. 

The  monopoly with the sellers is a  big problem.  i see that the only way out is to have more influx of bitcoin comming into india. limmit the amount of bitcoin going out and increase the amount coming in . have a system of trust  that builds the indian  bitcoin community.  Profit and earning money is a second objective the first priority for our indian community is it  make and  increase the  proliferation of  bitcoin into india.

Thanks for the update .  here the buyers can  put up their  requirements and also the price they are will to buy at. a bidding system would be better as a market stabilizer, atlease in india.  also other  sellers can  get in touch .  
I was thinking, i should may be put up a  bid exchange using google docs for a temporary time .

My goal is to may bitcoin more  acceptable open and easy to access.

What about using liberty reserves. any good/trusted sellers for liberty reserves ?

sellers update for today.
bump

i already  bought  some  so wont  be needing  it .

so in that case  lets  make this  thread  into  a  same  day buyers  list. any  one  buying it  on that  day  just  update  the  list  and   sellers  can  contact them. 
If you  want  i can  escrow  the  purchases .   

Well i will tell you what happened . Feathercoin  got  listed on  btc-e.com and the botnet miners  that were  mining in  huge   numbers  dumped it there  for  bitcoin  and now they are   bringing  down  bitcoin .  
Feather  con has been  there  for only weeks  and it is  doing  quite well . i bought  like  10000 FTC  for like  1 btc. when  they were trading  it on  a  google  spread sheet. now it like about 250 FTC  for 1 BTC.  so  made a profit  heheh

well  if  you read the  press release  looks like  coin lab is  just trying to  act like a  real  big  baby. 

http://coinlab.com/press

I'm not  much  for those  board members. they can  agree on any thing concrete  at all. most  of the time they fight over control  of their  territory  .

By the way . is the  sit reliable http://buysellbitco.in/ ?

na they  sell off    mt gox is   getting  sued . 
http://www.arnnet.com.au/article/460869/lawsuit_halts_us_bitcoin_exchange_partnership/

i am not  even  coming  close to a  chines  based  coin  right now  . 

Bots ,, i  freaking  hate that name , i hate it  because it killed off my  litecoine  mining  operation. 
Its a  real big problem . 

cool now  we  go two  pen testers now. 

People  who  want to  buy bitcoin place in you bid amount and  the number of bitcoins  you want to purchase and i will update it.

The same  goes  with sellers place in the amount  you are  willing to sell and how  many bitcoins.

The sellers and  buyers  can match their  amount and make the  deal. them self.  


So lets  make this  thread  into  a  same  day buyers  list. Any  one  buying it  on that  day  just  update  the  list  and   sellers  can put in their  own  asking price. i will update  them for public  viewing.  Buyers and sellers  can  contact each other or If you  want  i can  escrow  the  purchases .  

For  escrow just  pm me .
People  when placing  your  bids and  Sale  request, please  put it in INR  form  not  a % amount .  
Buyers  an  sellers  please  take precaution when  conducing  transaction  with  people  you  dont  know .

Todays Bid/Ask (all valuation on  bids to be in INR)
[BID 5,000 | Ask 7,130]

              Buyer                                                             Seller

   Buyer BID             INR            Quantity       Total (INR)                                  |            Seller Ask              INR              Quantity        Total (INR)

                                                                                                        |      ajax3592            $570                   0.6 BTC           $570

1. achal                  5,000/-             8            40,000/                            | 1.       shibaji              6,900/-             15                1,00,350 /-
2. ninjarobots        5,000/-                2            10,000/-                           | 2.        legendster            7,130/-           1.5             10695/-
3. Pinwheel            7,300/-              1                  7,300/-                        |3.   tryingtobeperfect       7400/-               1               7400/-
4. Subvolatil             4,400/-            2             8,8000/                             |4.       axorb                  7,350/-              1                  7,350/-

    

subvolatil [ looking to  purchase 2 BTC ]

axorb [ looking to  sell 0.5 BTC  ]

rezurect [ looking to  purchase ]

Buyers and  sellers  just  post what  you wan to bid and what  you are  asking  for.

well i  have  pondering  on this  concept  for  quite  some time.
the main  problem  i faced in india , was that people dont have access to bitcoin and  to  purchase it is  real  difficult .  Transfering money outside is next to impossible. the government  makes it hard to  citizens to  send money abroad . but  makes it so easy for the corrupt  people  to  transfer their  millions to  swiss  banks. i had my  account frozen for  trying to send  money to mtgox. they thought  i was laundering  $100 out of the country took me  4 weeks and a  shouting match with my bank  manager to  get  my account  working. 

What we face is   the low  volume of  bitcoins in india.  Mining  rig owners  dont want to  sell bitcoin  in india in bulk, one of my  friend ownes  a sweet  gpu mining  rig and he sell it outside.  I  dont know  if there are an others  who are mining  for profit.
so  either  the mining  operation in  india  needs to increase , may be  get  some investment  on  ASIC/FPGA rigs or try to develop it our self. there are many  good engineers in india  who  can  do a  swell job  designing  these  boards.

The other option is to Have  another  cryptocurrency  launched have it  mined in  india  on a mojority  basis  and  have  the maximum  number of coins in  india use that coin  to  convert the  INR to  crypto  currency , and  from there to  either use this  as a  base line  crypto currency in india, or use it as a trading   currency  for bitsoins. 
Once  an INR  value is  transferred to the alternative  crypto  currency , the same  value  can be used in a  transaction  for  bitcoin.  just like  bitcoin  to litecoin.

What i  propose it the  second  option . create a  Fork of the new  Feathercoine, have  the genessis block  also  mined in india and  set  the number of  coins to  about  4X of the number of litecoins.  let  the mining  be done  mainly in india at  first and  let  market forces take over  after that . 
We need  a  fork of Feathercoin which is a fork of litecoin.
we need miners in india,  alot of them
we need  a  mining  pool . (Which should be  easy to setup)
We need a  exchange (which should not be  a problem as it  can accept inr payment  of  bank transfer online payments and cheque payments. )
Give it  6 months  to mature to a  stable   currency.


PS the  Chinese  have their  own  coin now. CHNCoin .http://chncoin.org/

And by the way  a name  can come  later. lets  discuss concepts  first. 

WoW ! Great to see  so many people, involved now.  came  to this  forum  after  some  months,  so  it nice to see the community  growing. 

Just because i think it  needs  improvement.  a bit of history and a short  explanation .

1st What is Bitcoin ?

Bitcoin is a   what you can call  a  new  type of  online  currency. A  crypto currency. This crypto currency was propose  in the late  90's by  a  group  known as cyherpunks who  mainly discussed about  cryptography and security and among them was,  for a currency that would  be  totally  anonymous and  free from the control of  large banks and governments. around  the late  2008 this guy named  "Satoshi Nakamoto" wrote a  rocking  paper  describing this  concept of a a P2P payment  system  that would  use the  concept  discussed  by the early  cypherpunks.
What bitcoin allows you to do is  to send  money to people,  make purchases, just like  real cash, only difference is this is online . Bitcoin in most ways  behave  like  hard cash . you can  give it to person to person,  you can  loose it, and  destroy it.
In simple terms  you can  do  with bitcoins what you can  with  hard cash, and much more.

And what is bitcoin address, is it our physial home address, or some email address
Well Bitcoin adddress is  different  from any other address system you may have encountered before, A bitcoin address consists of two addresses the public  address and the private  address.  Like the name  suggests the public  address is public and can be  distributed  to any one  and every one  without  any fear. the private address is the one you keep  very private and secret and  dont  even tell that to any one at all. You keep it so secret, that no one can access it.
A bitcoin address is a hash of a  public portion of a public/private ECDSA keypair.
and looks like this  - 31uEbMgunupShBVTewXjtqbBv5MndwfXhb.

What makes the prices of bitcoins go high and low, i just didnt understand the concept??

Ok price fluctuation in the market  for  bitcoin is almost the same  as any  open market  rate  fluctuation, many factors  determining  the rate and prices, just like in the stock market  prices  change to  environmental, social, and economical  changes the same with  bitcoins.
an  example  would be the recent  European financial crisis that hit  Greece and Cyprus, increased  demands for the  Crypto currency and increased  prices.
So  many factors  put in to  fluctuate market  rates.
    
Where can I use these bitcoins?

you can  use  bitcoins  with people and business  that accept  bitcoins.  as a new currency there are not many  brick and mortar  stores that accept bitcoins, but there are  online  services that may be purchased  with bitcoin.  and like  any  new  currency  the  growth is  slow  but  then number of  people and businesses  acepting  bitcoin  is increasing  exponentially .

Do Indian shoping websites accept them??

There are no major  online  shopping websites  that accept bitcoins in India, how ever that  would be  changes  as more  businesses  are looking  at alternative  methods of payments, and  bitcoin  is places to  be a perfect  online  transaction system.

What is the real advantage and use of buying them???

Why  because  the money  is with you. Because it  is  secure. it  cannot be manipulated by one  person, bank, or government. It does not care about  boundaries (there for being a  true  world currency). And  did i  mention that it  cannot be  printed  like  normal fiat  currency an  inflate the market.

Please help me understand the exact role of bitcoin in daily life and how can it replace currency notes and its functioning
For a  simple  reason that Bitcoin is  safe from  outside manipulation,  safe from double spending problem.  it  gives people  a alternative to Fiat currency. what bitcoin gives, is freedom  form the  economical  uncertainty we  face in the current  debt  payment  system.  

Send me the love here - 1HC6HXRrD6FhpTYmJZCXLkXMnpgTzJFmxj

thanks  got the coins. will  donate once my rig starts up today .
Spread the love  people .

6yWsDomhZq7jyh86oS5KZS7CWeyxEkJE5s
Thank you