Do you think Bitcoins has a great future in India?

[acroman08]

Hello Friends,

Visited India few weeks back, and as we all know that it is a highly populated country, with some very great corporates and highly educated people, Some big IT companies also have their offices in India, But for my surprise very few of the population of India are aware about the bitcoins.

What could be the reason behind it?

Lack of awareness level
Government not supporting bitcoins
Banks not supporting too
Or people resist change

Looking at the population of India, If bitcoins gets positive feedback even from the half of the population from Indians, I believe it would a win - win situation for the bitcoin community.

It will be a win win win if it advertised correctly.

[malzahar]

Hello Friends,

Visited India few weeks back, and as we all know that it is a highly populated country, with some very great corporates and highly educated people, Some big IT companies also have their offices in India, But for my surprise very few of the population of India are aware about the bitcoins.

What could be the reason behind it?

Lack of awareness level
Government not supporting bitcoins
Banks not supporting too
Or people resist change

Looking at the population of India, If bitcoins gets positive feedback even from the half of the population from Indians, I believe it would a win - win situation for the bitcoin community.

It will be a win win win if it advertised correctly.

Yeah that keyword is advertised correctly.

But in general, if thats true what that persons saying, and the lack awareness level is that bad we really shouldnt expect anything in the near future then.

Unless some serious financially situation happens forcing their hand.

[MasterYii]

The literacy rates in India too have been growing tremendously anually. I think that even if the English speaking class displays interest in bitcoin, it could really be a nice opportunity for bitcoin to shine. 10% of India speaks the English language fluently, leaving a market of more than 125 million people. In fact, India’s population is more than the combined population of US, Russia, Canada, Mexico, Brazil, Argentina, South Africa, Japan, UK, Germany, Australia, Italy, Spain and New Zealand!

Corruption too is high in India.
If a small portion of bribe payments were routed through bitcoins, the price would receive a massive boost.

Haha, so who wants to volunteer becoming the indsider politician for us.

Corruption in general is everywhere, i think the important thing though is that if theres a chance of awareness for the indian people then we still have a shot regardless corruption or not. Its just slower growth.

[White sugar]

The literacy rates in India too have been growing tremendously anually. I think that even if the English speaking class displays interest in bitcoin, it could really be a nice opportunity for bitcoin to shine. 10% of India speaks the English language fluently, leaving a market of more than 125 million people. In fact, India’s population is more than the combined population of US, Russia, Canada, Mexico, Brazil, Argentina, South Africa, Japan, UK, Germany, Australia, Italy, Spain and New Zealand!

Corruption too is high in India.
If a small portion of bribe payments were routed through bitcoins, the price would receive a massive boost.

and the image of Bitcoin would be hurt even more, and probably BTC would be banned in India and other places.

Like Silk Road, Gox and drug dealers aren't enough

[Miss Fortune]

The literacy rates in India too have been growing tremendously anually. I think that even if the English speaking class displays interest in bitcoin, it could really be a nice opportunity for bitcoin to shine. 10% of India speaks the English language fluently, leaving a market of more than 125 million people. In fact, India’s population is more than the combined population of US, Russia, Canada, Mexico, Brazil, Argentina, South Africa, Japan, UK, Germany, Australia, Italy, Spain and New Zealand!

Corruption too is high in India.
If a small portion of bribe payments were routed through bitcoins, the price would receive a massive boost.

and the image of Bitcoin would be hurt even more, and probably BTC would be banned in India and other places.

Like Silk Road, Gox and drug dealers aren't enough

luckily though, they havent experienced any of these situations, like most have.

so I hope that those past history lessons just dont resurface and focus on the better parts of bitcoin.

[HarHarHar9965]

The literacy rates in India too have been growing tremendously anually. I think that even if the English speaking class displays interest in bitcoin, it could really be a nice opportunity for bitcoin to shine. 10% of India speaks the English language fluently, leaving a market of more than 125 million people. In fact, India’s population is more than the combined population of US, Russia, Canada, Mexico, Brazil, Argentina, South Africa, Japan, UK, Germany, Australia, Italy, Spain and New Zealand!

Corruption too is high in India.
If a small portion of bribe payments were routed through bitcoins, the price would receive a massive boost.

and the image of Bitcoin would be hurt even more, and probably BTC would be banned in India and other places.

Like Silk Road, Gox and drug dealers aren't enough

luckily though, they havent experienced any of these situations, like most have.

so I hope that those past history lessons just dont resurface and focus on the better parts of bitcoin.

I was questioning 'what-if' there is already bribery being exchanged in India in terms of bitcoin, what if there is tax fraud taking place in India more often then what people know? There has been increase in bitcoin owners in India from the past 3 years, even bitcoin ventures are functioning through India, there is VPN and many ways to hide IP and ID, I think there is already trade in a more smarter and secret class of Indians

[pitham1]

The literacy rates in India too have been growing tremendously anually. I think that even if the English speaking class displays interest in bitcoin, it could really be a nice opportunity for bitcoin to shine. 10% of India speaks the English language fluently, leaving a market of more than 125 million people. In fact, India’s population is more than the combined population of US, Russia, Canada, Mexico, Brazil, Argentina, South Africa, Japan, UK, Germany, Australia, Italy, Spain and New Zealand!

Corruption too is high in India.
If a small portion of bribe payments were routed through bitcoins, the price would receive a massive boost.

and the image of Bitcoin would be hurt even more, and probably BTC would be banned in India and other places.

Like Silk Road, Gox and drug dealers aren't enough

luckily though, they havent experienced any of these situations, like most have.
so I hope that those past history lessons just dont resurface and focus on the better parts of bitcoin.

There is no such thing as bad publicity.
The media attention on Silk Road probably got a lot of people's attention and initiated people into Bitcoin (not necessarily to buy drugs).

[ralle14]

i think bitcoin has great future in india
maybe they're not just that exposed about bitcoin and its
potential to get them more interested

[MinerHQ]

i think bitcoin has great future in india
maybe they're not just that exposed about bitcoin and its
potential to get them more interested

I think not only in india many other countries bitcoin is not popular now. Once it got accepted in many businesses then slowly whole world will come to know about it.

[Luqman]

Never heard something about BTC there.. I think the future of BTC is when people more known BTC is..

[RealBitcoin]

There is no such thing as bad publicity.
The media attention on Silk Road probably got a lot of people's attention and initiated people into Bitcoin (not necessarily to buy drugs).

There is because while alot of "cyberpunks" got interested, bad stories like that keep big investors away unfortunately.

Imagine if we can convince Bill Gates or Warren Buffett to invest 10 billion $ each, into bitcoin. It would be a better publicity than 1000 new nerds joining bitcoin just to do faucets...

[bryant.coleman]

In fact, India’s population is more than the combined population of US, Russia, Canada, Mexico, Brazil, Argentina, South Africa, Japan, UK, Germany, Australia, Italy, Spain and New Zealand!

Having a population of 1,300 million is a curse, if 99% of it is lacking the necessary skills. Look at China. They also have a similar population (and 3 times the land area). The Chinese government invested quite heavily in improving the technical skills of its population during the 1990s. As a result China is the world's manufacturing hub right now.

But in India, there is no encouragement for improving individual skills. 85% of the population falls within various reserved categories, and they don't feel the need to improve their skills, as jobs are reserved for them by the government. The remaining 15% improve their skills, so that they could migrate to Canada or the European Union.

[HarHarHar9965]

In fact, India’s population is more than the combined population of US, Russia, Canada, Mexico, Brazil, Argentina, South Africa, Japan, UK, Germany, Australia, Italy, Spain and New Zealand!

Having a population of 1,300 million is a curse, if 99% of it is lacking the necessary skills. Look at China. They also have a similar population (and 3 times the land area). The Chinese government invested quite heavily in improving the technical skills of its population during the 1990s. As a result China is the world's manufacturing hub right now.

But in India, there is no encouragement for improving individual skills. 85% of the population falls within various reserved categories, and they don't feel the need to improve their skills, as jobs are reserved for them by the government. The remaining 15% improve their skills, so that they could migrate to Canada or the European Union.

sadly true, but I am just stating that with such a vast population, if rules and regulations are implemented the way they are intended to, proper education is provided and life skills are taught for free, there is so much room for improvement in human resources sector. The only terrible thing slowing India are the amount of time, energy and life people invest in following religions and underestimating their potential

[Wapinter]

Hello Friends,

Visited India few weeks back, and as we all know that it is a highly populated country, with some very great corporates and highly educated people, Some big IT companies also have their offices in India, But for my surprise very few of the population of India are aware about the bitcoins.

What could be the reason behind it?

Lack of awareness level
Government not supporting bitcoins
Banks not supporting too
Or people resist change

Looking at the population of India, If bitcoins gets positive feedback even from the half of the population from Indians, I believe it would a win - win situation for the bitcoin community.

methink given the high rate of illiteracy India would be the last country to accept bitcoin.70% Indian population lives in rural area and most of them still do not have internet how come such people will know about bitcoin is anybody's guess

[Quinn]

I think that Bitcoins has a great future all over the world. Some parts of the world are embracing it rapidly and some aren't. Taking India's market growth into consideration, it is evident that Bitcoins will finally hit India's financial hubs as well but it will take some time before that happens.

[futurebit640]

I think that Bitcoins has a great future all over the world. Some parts of the world are embracing it rapidly and some aren't. Taking India's market growth into consideration, it is evident that Bitcoins will finally hit India's financial hubs as well but it will take some time before that happens.

I definitely feel that bitcoin has the great potential in india, especially given the fact there are many Indians who work online, whether through owning their own business or freelancing so it would be a natural progression for anyone involved in tech or doing business online. Particularly paypal has a lot of restrictions in terms of how much can be transferred in and out of there into indian rupees. Bitcoin can fill in a very good void.

[bryant.coleman]

I definitely feel that bitcoin has the great potential in india, especially given the fact there are many Indians who work online, whether through owning their own business or freelancing so it would be a natural progression for anyone involved in tech or doing business online. Particularly paypal has a lot of restrictions in terms of how much can be transferred in and out of there into indian rupees. Bitcoin can fill in a very good void.

Most of the Indian freelancers don't pay any tax on their income. That is one of the reasons why the Reserve Bank of India (RBI) imposed restrictions on Paypal usage a few years ago. And if people start using some other mode of payment (such as Bitcoin) to circumvent these restrictions, then the RBI will impose restrictions on that medium as well.

[Wapinter]

Hello Friends,

Visited India few weeks back, and as we all know that it is a highly populated country, with some very great corporates and highly educated people, Some big IT companies also have their offices in India, But for my surprise very few of the population of India are aware about the bitcoins.

What could be the reason behind it?

Lack of awareness level
Government not supporting bitcoins
Banks not supporting too
Or people resist change

Looking at the population of India, If bitcoins gets positive feedback even from the half of the population from Indians, I believe it would a win - win situation for the bitcoin community.

Are you insane ?? you are expecting a change in currency from half of a country where 100% of the population is closeminded ,selfish and religion addicts..
I would say even expecting more than 2% (12 million people) will not be more than a dream..

How many times have you been to india to make such a statement? Thats racism 

[pitham1]

Having a population of 1,300 million is a curse, if 99% of it is lacking the necessary skills. Look at China. They also have a similar population (and 3 times the land area). The Chinese government invested quite heavily in improving the technical skills of its population during the 1990s. As a result China is the world's manufacturing hub right now.

China seems to have found its strength in manufacturing, India in Software Services.
The private sector has stepped in to fill the void left by the government in skill development. Both models (government led and private-sector led) seem to work. Having said that, I don't see large scale usage/awareness about Bitcoin even among software professionals. This is surprising.

[smartkiller]

yes but i think Bitcoin is  Not only in India , bitcoin has also a great
future in other country if there countrymen and goverment
will  use this.