Forget China, India will be next

[segeln]

Corruption, red-tape, and cronyism didn't stop Chinese exchanges from being set up, so I wouldn't think that it would stop Indian ones either.

I have been to India multiple times. And trust me, India is extremely hostile to business ventures, when compared to the business-friendly China. Sure, corruption do exist in China, but the magnitude of the problem is much lower when compared to that in India.

I agree

[segeln]

Looks like a new government just got elected in India. Apparently the leader Mr. Modi is business and tech friendly. Could be a bullish signal.

India still is a prohibitism and have banned bitcoin by default in the last India bubble.
If the new government becomes anything modernish like a democratic or republic it will be bullish.
Until that happens don't think that India will ever enter bitcoin unless their government approves bitcoin and explicitly allows it.

I think so as well

[RockHound]

Nice summary list of Legality by Country:

http://en.wikipedia.org/wiki/Legality_of_Bitcoins_by_country



Some Indian exchanges have gained full regulatory compliance (would be interesting to see how their trade volume develops). Also, further governmental clarification is surely to be expected?

Do we have any Indian Bitcoiners on here, would be great to hear your views. 

Natural tendency to think the Bitcoin protocol would be embraced by capitalisation-based emerging markets (India, SE Asia, S America). However, the opposite could be also be true (and have greater significance) like Countries with central banks facing bail-outs or negative interest rates.

[bryant.coleman]

Does anyone have an opinion about the election outcome?

Good news mate.

Looks like a new government just got elected in India. Apparently the leader Mr. Modi is business and tech friendly. Could be a bullish signal.

The right-wing pro-Business party (BJP) got a simple majority on their own. That is a very positive signal to the business community, including the Bitcoin-based businesses. There will be less harassment from the ED, and lower taxes.

[Erdogan]

Many people - thirst for gold - non-total-government control - networks being built as we speak.

[arbitrage001]

If India government trying to ban gold import to stop the outflow of money.

Guess what they will do to bitcoin when they discover it can totally by pass their control of rupee?

[zoinky]

If India government trying to ban gold import to stop the outflow of money.

Guess what they will do to bitcoin when they discover it can totally by pass their control of rupee?

Start buying bitcoin?