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Question: Why are you not using the Bisq exchange?
I benefit if BTC trade remains centralized
I won't use it until someone else creates liquidity
It is unclear how to use
There is no need for decentralizing BTC trade
I don't need financial privacy
The application does not work well
Unfavorable terms of trade
I'm afraid the authorities will punish me for this
I didn't know about it until now
It doesn't have a mobile app
No time to figure it out
I use Bisq
I explain below

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allahabadi
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August 30, 2020, 01:19:05 PM
 #21

Unfortunately no one in India seems not interested in using completely decentralized platform like Bisq because there is no volume at all for the people who want to trade in the last one year.
We think from this podcast one can infer and deduce at least some reasons why there is no India Bisq volume at all:
http://bitcoininasia.btc.libsynpro.com/bia9-focusing-on-india-with-bitbns-ceo-gaurav-dahake


People in India tend to shun tech which they perceive to be even slightly difficult; also many trade on the go on mobile devices.

Another thing which i hv pointed above and think is relevant is the lack of concern on privacy; most ppl just dont take it seriously...
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August 30, 2020, 11:54:19 PM
 #22


People in India tend to shun tech which they perceive to be even slightly difficult; also many trade on the go on mobile devices.

Another thing which i hv pointed above and think is relevant is the lack of concern on privacy; most ppl just dont take it seriously...
As far as we have noticed, it's human nature worldwide to avoid doing anything the more difficult way, if an easier way exists.

The low number of PC users seems more likely to be a major reason, as was suggested early in several related threads.
If I understood right from this podcast, the number of PC users is less than 10% of India's population?
If so, Bisq still leaks and consumes so much memory, that maybe only a small number of those have enough memory for it.

By then, we are in the millions or 100's of thousands users. Maybe only a few percent are interested in Bitcoin, which brings us to 100's or 10's of thousands.
Among those, some small percentage understand that centralized exchanges collect their data for future use, and once enough is collected, it will be useful and available to the government for looting and punitive actions.

That remnant number seems still likely to be more than 2 in a thousand, or even 2 in a hundred in a country with so many IT related workers, which tend to be well educated, logical, familiar with fundamental nature of the government business model, etc...
Is it known how many users Bitbns and formerly Wazirex have?

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September 05, 2020, 05:29:57 AM
 #23

Unfortunately no one in India seems not interested in using completely decentralized platform like Bisq because there is no volume at all for the people who want to trade in the last one year.
It's not decentralized, but it's the next best thing - non-custodial at HodlHodl.

https://hodlhodl.com/offers?search=1&side=buy&include_global=checked&price_currency=INR
:
https://hodlhodl.com/offers?search=1&side=sell&include_global=checked&price_currency=INR

It's a big spread, because there is only one market maker, but what's the reason for not at least having an offer there in INR?

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September 05, 2020, 03:51:32 PM
 #24

Lack of sellers might be another reason. I mean the price gets dropped and investors run in to grab the low valued coins. And it is a limited window as the price might get hiked up sooner than later. So, they rush in and buy it from wherever they can as quickly as possible. Whereas in Bisq they'd have to post a trade and then wait for someone to come and use the application and then accept their trade. If that is they are okay with the price. And then it goes through. What this app needs is constant sellers advertising at competitive price. So, the buyers get attracted and start using the platform. Once that happens, it'll start to get more exposure and in time, more users.

One more thing is. In India people are very afraid of frauds. They want to know to whom they are sending money from their banks when buying. But more importantly from where the money is coming from when they are selling. Are they dealing with the same person who is advertising the trade? Or is someone just acting as a mediator between them and a third party? The KYC part in exchanges and P2P helps them achieve that safety. Maybe that's another reason why Indian Crypto traders hasn't warmed up to the application yet.

Btw, I was able to register my vote in the above poll now. I think one has to be at-least Jr. Member to be able to do that. Which is why it wasn't letting me do it before.

Tips are welcome! => 1bVp177vXRdbBUb9HXgP3odcdXBXdYr4z   <= BTC
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September 06, 2020, 12:09:36 AM
 #25

Lack of sellers might be another reason. ...

One more thing is. In India people are very afraid of frauds. ...
Thanks for your vote and opinion.
We're back to liquidity and safety. In any market and territory people want that - same as in India - certainly in Europe and US, where most Bisq trades happen.

  • European leadership in Bisq we understand: the founders are located there.
  • US adoption we understand: individual freedom, liberty, risk taking have a high cultural value there, and much of the population is suspicious and distrustful of government regulations.
  • UK is understandably #3 in volume: London is a financial center of Europe. They are culturally similar to US and in everything, everywhere, all the time, as Indians well know since colonial days. Wink
  • Brazil has surprisingly moved to #4. Perhaps, it's time to find out how their market makers decided to do that.

As for safety of KYC, seems certain to be a general lack of financial education and understanding that KYC is only there to fight one "crime" - tax evasion. Besides that and justifying propaganda, KYC actually only harms and endangers everyone forced to submit to it:
https://bitcointalk.org/index.php?topic=5230618.msg53969123#msg53969123

However, as mentioned, among over a billion Indians, the number of Bitcoin users who understand the fact above is statistically more than 2.

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September 06, 2020, 10:10:12 AM
 #26

...
Another thing which i hv pointed above and think is relevant is the lack of concern on privacy; most ppl just dont take it seriously...
Another detailed explanation why all should take privacy seriously:
OLTB #443:
https://anchor.fm/originalltb/episodes/OLTB-443-Improving-Privacy-on-the-Bitcoin-Blockchain-eisdc6

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July 22, 2021, 08:14:38 AM
Last edit: October 29, 2021, 06:36:58 AM by Crypto Carabao Group
 #27

Seems that while we were on the latest Chinese plandemic wave vacation, more INR traders have become savy to use Bisq:

https://bisq.markets/market/btc_inr

Who will be next?

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October 29, 2021, 06:25:23 AM
 #28


Latest release adds five Indian payment methods: PayTM, UPI, RTGS, NEFT and IMPS:

https://github.com/bisq-network/bisq/releases/tag/v1.7.5


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