Crypto community in India really understand the decentralization part?

[Bitcoin Smith]

We can find reports that says India is leading in the crypto adoption which seems great but when we give deeper thought do they really adopt the crypto for what it is supposed to be or they just see it as investment and profit making tool?

Recently I ended up in a conversation where I am giving suggestion for someone who is asking what is the best way to store USDT for long term and my reply was USDT and many other stable coins were centralized so it can be frozen by the token issuer even if it's in our wallet, so I suggest DAI is a good option for who don't want to deal with 30% taxes and such.

But what I got in reply is, you must be a terrorist or criminal that given me the though of initiating this discussion.

[avikz]

It's true that Indians are leading in crypto adoption. However, majority of them are using centralized exchanges and doing it for profit. Majority of them do not understand the technology and the benefits it brings into the plate.

 Many of my current colleagues are Bitcoin investors but none of them really understands the technology and the privacy part of it. They have just opened an account in some local exchanges, deposited money and purchased Bitcoin.

Probably that's what the government wants! Education brings in the power to reason and governments usually don't like it.

[Bitcoin Smith]

 Many of my current colleagues are Bitcoin investors but none of them really understands the technology and the privacy part of it. They have just opened an account in some local exchanges, deposited money and purchased Bitcoin.

That also explain why Indian board is ghosted even when we have millions of active crypto investors.

I can see people suggest Pi is the next Bitcoin, hold it for 5 years and my reaction is like what in the world you are doing bro.

Pathetic thing is most of them are graduates who either has bachelors or master degree but doesn't understand finance just purely driven by the social media influence into the crypto currency.

I don't know who can open their eyes.

[avikz]

 Many of my current colleagues are Bitcoin investors but none of them really understands the technology and the privacy part of it. They have just opened an account in some local exchanges, deposited money and purchased Bitcoin.

That also explain why Indian board is ghosted even when we have millions of active crypto investors.

I can see people suggest Pi is the next Bitcoin, hold it for 5 years and my reaction is like what in the world you are doing bro.

Pathetic thing is most of them are graduates who either has bachelors or master degree but doesn't understand finance just purely driven by the social media influence into the crypto currency.

I don't know who can open their eyes.

The problem is different! Indian middle class people are too busy to learn new things. They just slog for 9 hours in office, 3 hours in traffic every day. So they are least bothered to learn new things. They have invested in Bitcoin because someone told them to do so and expecting to become rich someday. They are too ignorant to learn about Bitcoin.

No one can open their eyes because the government itself doesn't want it. We all know why!

[Bitcoin Smith]

The problem is different! Indian middle class people are too busy to learn new things. They just slog for 9 hours in office, 3 hours in traffic every day. So they are least bothered to learn new things. They have invested in Bitcoin because someone told them to do so and expecting to become rich someday. They are too ignorant to learn about Bitcoin.

Yet, they somehow find enough time to scroll down Instagram and YouTube.

I guess learning about financial freedom, decentralization, censorship is too complicated but somehow they watch 20-60 second videos for motivation about how to become rich.

It is the reason why Indian YouTubers able to sell anything to their audience, it's not just random shitcoins but also trading courses for thousands of rupees but when investigated deeply they made loss from trading but sold their courses for crores even we also saw news about that.

People were too harsh on me for telling the truth about crypto community in India on Reddit. That proves they are not ready to learn anything, just wish a random influencer to make them rich.

[TheUltraElite]

Indians lack critical thinking and logic - part of the culture when we are growing up.

Fact is you cannot help these people but help yourself. Those who are investing in Pi, let me do that - 5years down the line, you will see who the winner is. During my tenure on this forum, I took multiple such challenges in the chatboxes of casinos and those who challenged me are nowhere to be seen.

[Bitcoin Smith]

Indians lack critical thinking and logic - part of the culture when we are growing up.

I know everything attitude is stopping them from knowing the reality and just living in the delusion. Indians are smart but the majority of them lacking critical thinking as you mentioned which is why they are becoming prey for most of the scams not just in the crypto field, but they are being comfortable trusting anything that promises big returns even though it's too good to be true.

[pawanjain]

It's true that Indians are leading in crypto adoption. However, majority of them are using centralized exchanges and doing it for profit. Majority of them do not understand the technology and the benefits it brings into the plate.

 Many of my current colleagues are Bitcoin investors but none of them really understands the technology and the privacy part of it. They have just opened an account in some local exchanges, deposited money and purchased Bitcoin.

Probably that's what the government wants! Education brings in the power to reason and governments usually don't like it.

That is true. Even my friends circle who have invested in bitcoin have only bought it to make profits.
They are least bothered about the tech behind it. Only a few people who are interested in technology know a little more about the tech behind it.
But that's not really surprising to me because I know we Indians are so greedy that we will do anything for making money.
Just that, only the tech savvy ones are more motivated to learn about the tech behind it.