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Author Topic: Bitcoin in India? Not for a LOOOOONG time.  (Read 14199 times)
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December 15, 2016, 11:07:18 PM
 #181

Hundreds of bitcoin sellers in a country of billions would qualify as barely anything and its not a small country so hundreds is nothing, mostly in a few cities I guess.     India is energy poor as I understand it, they have so far at least limited access to natural oil reserves or gas.   There is some but as mentioned the demands of the country are gigantic and so the price of energy there including electricity must be pretty high.   Ive never heard of hydro power being built large scale like the Chinese did, they also are not energy rich.

India has a great need for bitcoin in its stability, utility to business and distance from political based currency.   They also have great challenges to use anything reliant on telecommunications, I think India needs more infrastructure.   Its not an actual capitalist country as I understand things, maybe in future but its more nationalist based with lots of protectionism which means very slow progress
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December 16, 2016, 01:05:59 AM
 #182

...

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.
Thats because a lot of people there are not into technology. They dont know how to use new technology. We have the same situation here. My place we can say it is remote area and i think i am the only one here know bitcoin. They dont know bitcoin yet. So i introduce bitcoin to some of my friends because i think its a duty to make bitcoin to be known by many people here. But i have a problem. The technology here is too old. They dont know how to use internet. It will be a challenge for me.
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December 16, 2016, 02:20:55 AM
 #183

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.
People from India love gold so if the government tried some confiscatory measures I’m sure there is going to be strong resistance against it, that is why I think India is going to adopt bitcoin, if we explain them that bitcoin is like an electronic form of gold.
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December 16, 2016, 09:55:28 AM
 #184

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.
People from India love gold so if the government tried some confiscatory measures I’m sure there is going to be strong resistance against it, that is why I think India is going to adopt bitcoin, if we explain them that bitcoin is like an electronic form of gold.
All people of course more love gold than bitcoin. It is not easy to explain bitcoin to new people. They just assume the same with paypal, it is not just happening in india, in my States also like that.

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December 16, 2016, 10:02:03 AM
 #185

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.
People from India love gold so if the government tried some confiscatory measures I’m sure there is going to be strong resistance against it, that is why I think India is going to adopt bitcoin, if we explain them that bitcoin is like an electronic form of gold.

Bitcoin is already being adopted by many Indians. And after demonetization in India, many peoples are getting into Bitcoins. The acceptance rate of Bitcoins will be going further gradually. Not only they are uninformed, many people live in fear. Gold can be bought electronically also, but they by physical gold out of fear for feeling more secure.

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December 16, 2016, 10:28:58 AM
 #186

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.
People from India love gold so if the government tried some confiscatory measures I’m sure there is going to be strong resistance against it, that is why I think India is going to adopt bitcoin, if we explain them that bitcoin is like an electronic form of gold.

Bitcoin is already being adopted by many Indians. And after demonetization in India, many peoples are getting into Bitcoins. The acceptance rate of Bitcoins will be going further gradually. Not only they are uninformed, many people live in fear. Gold can be bought electronically also, but they by physical gold out of fear for feeling more secure.

i see that indians realize that bitcoin is become another solutions for their economic and they can use bitcoin for the payment, beside that bitcoin is really safe and secure than gold so i think this is a good to be adopt by other country and other people so we can make bitcoin more grow than before.

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December 16, 2016, 10:33:30 AM
 #187

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.
People from India love gold so if the government tried some confiscatory measures I’m sure there is going to be strong resistance against it, that is why I think India is going to adopt bitcoin, if we explain them that bitcoin is like an electronic form of gold.

Bitcoin is already being adopted by many Indians. And after demonetization in India, many peoples are getting into Bitcoins. The acceptance rate of Bitcoins will be going further gradually. Not only they are uninformed, many people live in fear. Gold can be bought electronically also, but they by physical gold out of fear for feeling more secure.

i see that indians realize that bitcoin is become another solutions for their economic and they can use bitcoin for the payment, beside that bitcoin is really safe and secure than gold so i think this is a good to be adopt by other country and other people so we can make bitcoin more grow than before.
India need too much time to adopt bitcoin like China and Indonesia because here most of things control by strict government policies so they are not allowing peoples to involve in this right now  but some peoples trying to spread this which is very good signal
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December 21, 2016, 10:24:07 AM
 #188

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.
People from India love gold so if the government tried some confiscatory measures I’m sure there is going to be strong resistance against it, that is why I think India is going to adopt bitcoin, if we explain them that bitcoin is like an electronic form of gold.

Bitcoin is already being adopted by many Indians. And after demonetization in India, many peoples are getting into Bitcoins. The acceptance rate of Bitcoins will be going further gradually. Not only they are uninformed, many people live in fear. Gold can be bought electronically also, but they by physical gold out of fear for feeling more secure.

i see that indians realize that bitcoin is become another solutions for their economic and they can use bitcoin for the payment, beside that bitcoin is really safe and secure than gold so i think this is a good to be adopt by other country and other people so we can make bitcoin more grow than before.
India need too much time to adopt bitcoin like China and Indonesia because here most of things control by strict government policies so they are not allowing peoples to involve in this right now  but some peoples trying to spread this which is very good signal

They might not use the bitcoin, but they can buy and hold the bitcoin.
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December 21, 2016, 12:14:51 PM
 #189

Oh thats great to hear that you have visited India as i am from India and you are right still bitcoin is not popular in india.If you ask randomly to people about the bitcoin,i think not even one will know about bitcoins out of ten even the very educated ones,i hope this will change in next years.
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December 26, 2016, 06:20:31 AM
 #190

Actually people in india are having a hard time for demonetization problems and apps like paytm we have to  make them understand and some people dont even want to understand them at all .so bitcoins is a long way to go .media should be active in this for bitcoins.
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December 26, 2016, 06:48:53 AM
 #191

Oh thats great to hear that you have visited India as i am from India and you are right still bitcoin is not popular in india.If you ask randomly to people about the bitcoin,i think not even one will know about bitcoins out of ten even the very educated ones,i hope this will change in next years.
i think that if people in india are know bitcoin very well especially the wealthy people then most of them will be moving their wealth to bitcoin and then the developing progress of bitcoin in india will be faster than now
but unfortunately that in india it seem they don't have a corporate or organization which support bitcoin or which is created to inform people about bitcoin

 
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December 26, 2016, 07:00:12 AM
 #192

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.
People from India love gold so if the government tried some confiscatory measures I’m sure there is going to be strong resistance against it, that is why I think India is going to adopt bitcoin, if we explain them that bitcoin is like an electronic form of gold.

Bitcoin is already being adopted by many Indians. And after demonetization in India, many peoples are getting into Bitcoins. The acceptance rate of Bitcoins will be going further gradually. Not only they are uninformed, many people live in fear. Gold can be bought electronically also, but they by physical gold out of fear for feeling more secure.

main reason for the seemingly higher price in India is because of the smaller supply vs the demand. if they had a proper way of purchasing bitcoin rather than using localbitcoins their bitcoin price wouldn't have been this high. there is only one Indian exchange and that already needs a bank to deposit and Indians have trouble with their banks. so they seek alternative ways like localbitcoins and pay extra amount.

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December 26, 2016, 08:36:55 AM
 #193

Actually people in india are having a hard time for demonetization problems and apps like paytm we have to  make them understand and some people dont even want to understand them at all .so bitcoins is a long way to go .media should be active in this for bitcoins.

From what I have seen, Bitcoin has just wasted a great opportunity in India. Online payment options such as PayTM, Mobikwik, and Freecharge were able to enroll millions of users, ever since the demonetization kicked in. Unfortunately, Bitcoin couldn't make use of the opportunity. A little bit of public awareness could have done the trick.
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December 26, 2016, 09:12:51 AM
 #194

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.
People from India love gold so if the government tried some confiscatory measures I’m sure there is going to be strong resistance against it, that is why I think India is going to adopt bitcoin, if we explain them that bitcoin is like an electronic form of gold.

Bitcoin is already being adopted by many Indians. And after demonetization in India, many peoples are getting into Bitcoins. The acceptance rate of Bitcoins will be going further gradually. Not only they are uninformed, many people live in fear. Gold can be bought electronically also, but they by physical gold out of fear for feeling more secure.

Yeah, the information about bitcoin that less to attract lots of adopters.
I think India is same situation in my country where many adopters but not much enough to say massive, just about 0.1% maybe.
A lot of things to learn about bitcoin I realized from the first time I found it.
So, people may know if some stores or news discuss about bitcoin become an alternative payment.

 
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December 26, 2016, 09:26:50 AM
 #195

True! Being an INDIAN I can understand your point. Bitcoin is not as popular as China because we don't have internet facility in every villages of INDIA. A large amount of people are still outside the reach of internet. That is the reason why majority of the INDIAN have not heard about bitcoin.

Also a large amount of our oldage population are simple not interested because they are not tech savy. The concept of bitcoin can only be understood by a internet educated person.

However, if you meet the younger generation of India who belongs from a middle class or upper-middle class section, you will see that many of them knows about bitcoin.   

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December 26, 2016, 09:27:17 AM
 #196

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.
People from India love gold so if the government tried some confiscatory measures I’m sure there is going to be strong resistance against it, that is why I think India is going to adopt bitcoin, if we explain them that bitcoin is like an electronic form of gold.

Bitcoin is already being adopted by many Indians. And after demonetization in India, many peoples are getting into Bitcoins. The acceptance rate of Bitcoins will be going further gradually. Not only they are uninformed, many people live in fear. Gold can be bought electronically also, but they by physical gold out of fear for feeling more secure.

Yeah, the information about bitcoin that less to attract lots of adopters.
I think India is same situation in my country where many adopters but not much enough to say massive, just about 0.1% maybe.
A lot of things to learn about bitcoin I realized from the first time I found it.
So, people may know if some stores or news discuss about bitcoin become an alternative payment.

We can't deny that a huge number of the every country don't know about bitcoin, only a few countries are here where bitcoin is used in a big place. But if i am talking about India, than definitely i accept that bitcoin really want to help to Indian's people, but instead of it, they are not showing their interest. Even in many states of India, we can use bitcoin in open market easily, but also for it, many people don't know about bitcoin, So it is really mean that bitcoin need long time required in India.  
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December 26, 2016, 09:40:02 AM
 #197

No man, bitcoin trading transactions will still exist in India despite the government banned for citizens in India using bitcoin but the presence of dark-exchange sites will remain.

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December 26, 2016, 11:17:24 AM
 #198

Yes, I agree, the government can not ban Bitcoin. And the Indian government makes it impossible suschestvovovanie its citizens in their own country. Therefore, more and more people are turning to the Bitcoin community
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December 26, 2016, 01:10:51 PM
 #199

I am also from india. Most of indians are not familiar with Bitcoins. Most of them dont even have credit card. Most payments are by paper currency. If they start using Bitcoins, then surely it would create a great increase in demand for bitcoins.
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December 26, 2016, 02:10:35 PM
 #200

As stated by the OP, bitcoin is truly an advancement. But when it comes to India, its not much familiar among the common people. Little by little things were getting better and recently a sudden and increased adoption took place when the country's currency went valueless.




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