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Author Topic: Bitcoin in India? Not for a LOOOOONG time.  (Read 14199 times)
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September 23, 2016, 06:47:41 PM
 #161

Considering this thread was made in 2015,I could say a lot has changed since then.You could visit the Indian exchange section of LocalBitcoins and see that it's almost available with buyers/sellers.I agree it hasn't reached to a point where the general public understands what bitcoin is,but certainly a lot of young entreprenurs are coming up with new ventures promoting Bitcoins in India.

Being a regular visitor to India, I have used Localbitcoins in that country quite a few times. Some of the traders are quite good and well mannered. But there are some who always try to cheat. I faced issues in my trade 2-3 times. Although I got my coins back after disputing the trade, these incidents left a very bad taste. Never faced similar issues in my country.

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September 23, 2016, 06:55:09 PM
 #162

Considering this thread was made in 2015,I could say a lot has changed since then.You could visit the Indian exchange section of LocalBitcoins and see that it's almost available with buyers/sellers.I agree it hasn't reached to a point where the general public understands what bitcoin is,but certainly a lot of young entreprenurs are coming up with new ventures promoting Bitcoins in India.

Being a regular visitor to India, I have used Localbitcoins in that country quite a few times. Some of the traders are quite good and well mannered. But there are some who always try to cheat. I faced issues in my trade 2-3 times. Although I got my coins back after disputing the trade, these incidents left a very bad taste. Never faced similar issues in my country.
Why does your English seem like you're an Indian ? Tongue You don't have to be in this country to use Localbitcoins ,you could sit in China and trade with a person sitting in India through localbitcoins.I doubt you have ever used it...Or you could just admit you're an Indian.


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October 05, 2016, 07:52:33 AM
 #163

India is developing quite rapidly. It sings Bitcoin will soon be widely used there.
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December 13, 2016, 04:56:04 PM
 #164

Bitcoin popularaity is developing day by day .and it may have happen that in the next 10 years the popularity will reach to a next level and the popular malls and shops would start accepting bitcoins ,i think we are going forward to that day to come .

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December 13, 2016, 11:58:32 PM
 #165

...

It's good to read that BTC is catching on there in India.

Perhaps the time is right (the technology and Indian people are congruent now), and perhaps Modi's mishandling of the R500 and R1000 banknotes bans have both contributed to a more rapid use of Bitcoin there than I had anticipated based on my trip (as a tourist on a guided tour).

I see no real downside to India getting large into BTC, au contraire...
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December 14, 2016, 01:11:00 AM
 #166

Considering this thread was made in 2015,I could say a lot has changed since then.You could visit the Indian exchange section of LocalBitcoins and see that it's almost available with buyers/sellers.I agree it hasn't reached to a point where the general public understands what bitcoin is,but certainly a lot of young entreprenurs are coming up with new ventures promoting Bitcoins in India.
Things can change very fast in the world, it was not long ago the Venezuelan government was swimming in cash with oil at 100+ dollars, now with a lower price the government is struggling to keep itself in power.
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December 14, 2016, 04:16:12 AM
 #167

India is not the only one country in the world that the peoples is not familiar with bitcoin.
Many third world countries is just knowing bitcoin at the community online. And you know, not all people can operate computer and using Internet.
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December 14, 2016, 04:33:27 AM
 #168

Same here in my country. I asked around 10-15 person about bitcoin. And i leave them with a question mark iN their heads. I understand that since bitcoin is just starting to introduce here. I live in a province which technology is really old but not that old. Thats one of the factors that preventing bitcoin to know here. And ithink thats the same thing in india. Some remote area there dont enough knowledge about technology. Thats why only few people are using bitcoin.


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December 14, 2016, 11:10:34 AM
 #169

India is not the only one country in the world that the peoples is not familiar with bitcoin.

Indians are not that unfamiliar to Bitcoin. Check the Indian section of Localbitcoins, and you will be surprised to see hundreds of users online at any given point of time. Also, there are a lot of Bitcoin-based businesses operating out of India.

 
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December 14, 2016, 05:36:34 PM
 #170

...

It's good to read that BTC is catching on there in India.

Perhaps the time is right (the technology and Indian people are congruent now), and perhaps Modi's mishandling of the R500 and R1000 banknotes bans have both contributed to a more rapid use of Bitcoin there than I had anticipated based on my trip (as a tourist on a guided tour).

I see no real downside to India getting large into BTC, au contraire...

terrible for Indians, but a very valuable lesson to the world....no one can declare BTC worthless

in fact those R500/1000 bills lost 55-100% of their value. BTC never did that even at the worst of times.  Grin

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December 14, 2016, 06:50:01 PM
 #171

India is not the only one country in the world that the peoples is not familiar with bitcoin.

Indians are not that unfamiliar to Bitcoin. Check the Indian section of Localbitcoins, and you will be surprised to see hundreds of users online at any given point of time. Also, there are a lot of Bitcoin-based businesses operating out of India.

Indian are obviously not unknown to Bitcoin, but amount o users is quite less. Moreover very few peoples are interested about Bitcoin. Many people are familiar to this currency but their fear or lack of proper information holds them back from using it.
Also the exchangers charge quite more INR than the actual market rate.

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December 14, 2016, 06:53:50 PM
 #172

I have heard that India is going to be number one by bitcoin users. India is the country of contrasts. In your thread you don't mention with what kind of people you have contacted there. If that was just turistic jorney then I'm sure that you haven't met anybody who know about bitcoin. I think the most bitcoin users in India are students of big colleges and universities and business people as well.
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December 14, 2016, 06:58:52 PM
 #173

Same here in my country. I asked around 10-15 person about bitcoin. And i leave them with a question mark iN their heads. I understand that since bitcoin is just starting to introduce here. I live in a province which technology is really old but not that old. Thats one of the factors that preventing bitcoin to know here. And ithink thats the same thing in india. Some remote area there dont enough knowledge about technology. Thats why only few people are using bitcoin.

But there are countries with much less adoption about Bitcoins. India isn't too bad about Bitcoin informations... I see many of them on Facebook looking for HYIPs and fast profit methods with low investments. I risk to say the east is the place in the world with more Bitcoin enthusiasts at this moment, I see less prople from west using it.

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December 14, 2016, 07:00:58 PM
 #174

I have heard that India is going to be number one by bitcoin users. India is the country of contrasts. In your thread you don't mention with what kind of people you have contacted there. If that was just turistic jorney then I'm sure that you haven't met anybody who know about bitcoin. I think the most bitcoin users in India are students of big colleges and universities and business people as well.
India just has a huge population, and if just a tiny percentage of those people would use Bitcoin in the future, it would be a massive influx of new users.
That doesn't take away the fact that the majority of people in India are pretty tech-illiterate.

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December 14, 2016, 07:26:05 PM
 #175

It's unfortuante that india is not ready for bitcoin yet, mainly because people is too uninformed to even know what it is let alone how to properly use it to store and move their wealth. A lot of people is going to lose their net worth because of government stupidity and gold will be confiscated if they try to go the gold route.
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December 14, 2016, 07:36:35 PM
 #176

I have heard that India is going to be number one by bitcoin users. India is the country of contrasts. In your thread you don't mention with what kind of people you have contacted there. If that was just turistic jorney then I'm sure that you haven't met anybody who know about bitcoin. I think the most bitcoin users in India are students of big colleges and universities and business people as well.
India just has a huge population, and if just a tiny percentage of those people would use Bitcoin in the future, it would be a massive influx of new users.
That doesn't take away the fact that the majority of people in India are pretty tech-illiterate.
That's tight about that majority of people in India are  tech-illiterate and there are many people there who live under the line of poverty. But I also was reading about that India is going to take the first place by the number of bitcoin users. That's fact.
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December 15, 2016, 10:43:39 AM
 #177

...

We are back from a long trip to India and Nepal.  If wanted I can share pics with those interested.

I see that "not much" that I can see has happened in "Bitcoinistan" since I left.

I will mention that NO ONE has heard of Bitcoin save ONE person in our tour group (18 of us total). 

Bitcoin may be BIG in China, but not in India (certainly not Nepal, now under a fuel embargo by India -- complicated).

India IS progressing faster than I woulod have guessed, they have seen the light re infrastructure (and other things to advance, you know, things like economic freedom, etc.) and of course a relatively tranquil democracy.  But, BTC ain't ready for primetime there.  Pity.

Perhaps bitcoin isn`t popular in India because there aren`t any miners.

There aren`t any miners because of high electricity price or the hardware is too expensive to import.

Maybe btc will become popular in India in the future.

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December 15, 2016, 11:51:43 AM
 #178

True. I live in West Bengal, and so far, in all this time, I havent met anyone who has a fair amount of knowledge about bitcoins. Forget about using it in commerce, around 98% havent even heard about bitcoins. Some have heard the word "bitcoin", and either think that its criminal offense to use it, or dont even have an internet connection, making it impossible for them to earn/transfer bitcoins. I dont think there are ANY miners in India, as the economy of the people who do have knowledge about bitcoins, and mining doesnt permit them to pay the massive cost of buying ASIC miners, the huge electricity bills, and get so low/no profits.
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December 15, 2016, 01:25:53 PM
 #179

India is not the only one country in the world that the peoples is not familiar with bitcoin.

Indians are not that unfamiliar to Bitcoin. Check the Indian section of Localbitcoins, and you will be surprised to see hundreds of users online at any given point of time. Also, there are a lot of Bitcoin-based businesses operating out of India.

Indian are obviously not unknown to Bitcoin, but amount o users is quite less. Moreover very few peoples are interested about Bitcoin. Many people are familiar to this currency but their fear or lack of proper information holds them back from using it.
Also the exchangers charge quite more INR than the actual market rate.

The situation is the same in most of the other countries, such as China and Brazil. Bitcoin is not very familiar to the general population. But there remains a small core of Bitcoin users, who have kept the sector alive in these countries.

 
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December 15, 2016, 08:20:35 PM
 #180

Some people dont know about Bitcoin in india
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