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Author Topic: Bitcoin in India? Not for a LOOOOONG time.  (Read 14199 times)
Dudeperfect
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August 17, 2016, 05:37:07 PM
 #121

I am from India and I don’t think so. Yes, it will take time for common people to use it frequently but it’s not really that big not really that loooong time. There are almost 10,000 people using bitcoins in India (a country with 1.25 billion population having majority of citizens under age 35).

So instead of considering it as obstacle, I would see it as a golden opportunity. Now to build awareness about bitcoin, we need to spread technology of digital payments (which is different from bank) it’s something digital wallets with fiat in it. Once people understand and get used to it then it won’t be much tough to adopt bitcoin for them.

Considering current government’s approach, potential of young population, development of bitcoin and efforts of current bitcoin users, I think it’s not that loooong.
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August 17, 2016, 05:43:58 PM
 #122

i am a indian and i joined bitcoin network in 2010year i know every possibly normal humans in india they belive in bajks but not in bitcoin they say its a ponzie scheam or will became one soon i belive they are not understanding or dnt want to.

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August 17, 2016, 10:53:13 PM
 #123

i am a indian and i joined bitcoin network in 2010year i know every possibly normal humans in india they belive in bajks but not in bitcoin they say its a ponzie scheam or will became one soon i belive they are not understanding or dnt want to.
To be honest even I was not aware about bitcoin in 2010, I joined in 2015 and successfully earning bitcoins at a moment, and even in my country the scenario is same as of yours.
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August 17, 2016, 11:45:49 PM
 #124

Isn't it banned in some parts of India?
I thought I saw a post about it's use is not allowed in certain areas which I find strange.

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August 20, 2016, 01:25:32 AM
 #125

...

Are there any Bitcoin ATMs or exchanges in India?  How about members of localbitcoins -- say outside of Mumbai or New Delhi?

Being able to purchase Bitcoin seems to be of prime importance for it to grow in India.

*   *   *

What physical items can be bought with Bitcoin in India?

Merchant acceptance of Bitcoin seems to be the other matter of prime importance.
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August 20, 2016, 02:51:05 AM
 #126

Isn't it banned in some parts of India?
I thought I saw a post about it's use is not allowed in certain areas which I find strange.

If I'm not wrong, they didn't ban any part of India, but no mainstream businesses are accepting bitcoins as payments. Also, very less people know about bitcoins and their benefits in India. As of now, bitcoins are used mostly in online gambling, so not many people know about bitcoins in the world itself, not just in India.
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August 20, 2016, 05:49:33 AM
 #127

I would agree on a certain terms with you, but ofcourse considering the age of this post there has been recent changes and mass exchanges of Bitcoins happening by over 50,000 people in India and over 30,000 actively trading (as per a report by Moneycontrol). I understand this isn't a big number considering the overall population size, but if adoption slowly starts increasing, we may soon start to see it at many places.
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August 20, 2016, 06:17:37 AM
 #128

why you say in india not long time
its india and nepal its not understand not hear about bitcoin so what, your have bitcoin  you can sell international market exchanger, btce, huobi,okcoin and much more exchanger
what is your benifid its say bitcoin not for long time ?, your say not longterm is indian people follow your sugest and sell all bitcoin
price bitcoin will down
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August 20, 2016, 06:22:09 AM
 #129

Expect people from 3rd world countries to adapt to bitcoin probably a decade late compared to people from 1st world countries.

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August 20, 2016, 09:16:21 AM
 #130

...

Are there any Bitcoin ATMs or exchanges in India?  How about members of localbitcoins -- say outside of Mumbai or New Delhi?

Being able to purchase Bitcoin seems to be of prime importance for it to grow in India.

*   *   *

What physical items can be bought with Bitcoin in India?

Merchant acceptance of Bitcoin seems to be the other matter of prime importance.

hello,

There are no bitcoin ATM untill now anywhere in India as per my knowlege. But we can buy from firms such as Unocoin and Zebpay which work like exchanges but only deal in exchanging bitcoin for Indian Rupee and Visa versa.

I have seen the mobile phone explosion in India and how people started using GPRS. 2G/ 3G and apps such as whatsapp and facebook. It was, quite frankly very surprising for me. It started with the young generation taking it up and then slowly it gained mass popularity.

I believe that will be the same case. I know fee people who deals with bitcoin India, even they consider it as investment and they don't use it for payments. I personally came into cryptos  and my first transaction was with doge coin. The reason was doge is cheaper and faster.

I can say that in the next 5 to 10 years we can see a big explosion of bitcoins in India. Especially with the Digital India programme of PM Modi.


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August 20, 2016, 09:22:54 AM
 #131

Isn't it banned in some parts of India?
I thought I saw a post about it's use is not allowed in certain areas which I find strange.

If I'm not wrong, they didn't ban any part of India, but no mainstream businesses are accepting bitcoins as payments. Also, very less people know about bitcoins and their benefits in India. As of now, bitcoins are used mostly in online gambling, so not many people know about bitcoins in the world itself, not just in India.

That's true I am from India and very few people are using it, they  have heard about it but don't prefer to invest their  money in it as they have fear of loosing it in long run.
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August 20, 2016, 01:08:42 PM
 #132

there is no doubt about this that India and Pakistan are the to big population countries, but it is also a fact that bitcoin is still not so much popular in these two countries, if the bitcoin is introduced there hope that more people will join the world of bitcoin and the number of bitcoin users will really be increase, although some people from these countries are using bitcoin but there are very limited shops who are accepting bitcoin in their shops,
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August 20, 2016, 01:51:15 PM
 #133

I think bitcoin growing internationally. and if India does not allow the circulation of bitcoin then people in India still can deal. as long as they have internet access then they can do anything.
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August 20, 2016, 02:24:40 PM
 #134

I think bitcoin growing internationally. and if India does not allow the circulation of bitcoin then people in India still can deal. as long as they have internet access then they can do anything.

Yeah bitcoin is decentralized currency and anyone can use it, if they have access to internet then using bitcoin is not a big deal, and they can use even if they don't get support from the Government.
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August 20, 2016, 02:59:24 PM
 #135

Just to inform everyone.... The governor of the Reserve Bank of India (Raghuram Rajan) has been replaced with Dr. Urjit R. Patel. Rajan was fiercely against BTC, and he closed down many BTC-based ventures in India. I don't know much about the new governor, but I just hope that he will be more sympathetic to our cause.

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September 07, 2016, 01:51:56 PM
 #136

Just to inform everyone.... The governor of the Reserve Bank of India (Raghuram Rajan) has been replaced with Dr. Urjit R. Patel. Rajan was fiercely against BTC, and he closed down many BTC-based ventures in India. I don't know much about the new governor, but I just hope that he will be more sympathetic to our cause.

It's interesting to see how the new governor will treat bitcoin and overall cryptocurrency. I think Rajan was the reason of restrictions on paypal and other such services.

Now let's see how prime minister's monetary schemes like Digital India, Focus on cashless transactions & foreign investment policies takes place. Since there are 75%+ chances of reappointment of current prime minister Mr.Modi for 2019 to 2024 in elections, any decisions will have long-term impact.
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September 07, 2016, 02:01:23 PM
 #137

There are also allot of people in idia using bitcoins i dont know how much but what i know is that india is growing allot the last years so the bitcoin will also grow over there
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September 07, 2016, 02:21:42 PM
 #138

Also india is a growing country they growed allot in the past view years and you can see that by all kind of things internet infrastructure everything is ghetting better so the bitcoin also growing over there.
ontrackk
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September 08, 2016, 03:04:36 PM
 #139

I am an Indian, Bitcoin is not that famous in India. People always prefer currency notes to cards, so having a mobile wallet is like far from reach. Only the younger generation is getting to know about bitcoin.
Well, it's just like in my country. bitcoin in my country is not well known, they only say bad about bitcoin if they see

The current minister of the Reserve Bank of India  was the responsible behind driving Paypal out of India and also introducing In INDIA the BITCOINS
Currecny
i think that it is a really good thing, in my opinion india might become even stronger if people will adopt the bitcoins as their currency
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September 08, 2016, 03:28:23 PM
 #140

I am an Indian, Bitcoin is not that famous in India. People always prefer currency notes to cards, so having a mobile wallet is like far from reach. Only the younger generation is getting to know about bitcoin.
Well, it's just like in my country. bitcoin in my country is not well known, they only say bad about bitcoin if they see

The current minister of the Reserve Bank of India  was the responsible behind driving Paypal out of India and also introducing In INDIA the BITCOINS
Currecny
i think that it is a really good thing, in my opinion india might become even stronger if people will adopt the bitcoins as their currency

Yeah that's a great news for Indians and the population of India is very high so even is small percentage of people will start using it then it can have a great impact on the price of bitcoins.
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