Bitcoin in India? Not for a LOOOOONG time.

[2double0]

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.

I heard that some demonetization took place there and this gave bitcoins much more importance to black money holders there.
They just transacted all their cash for very high prices per bitcoin, but this won't last long. Still, this has gained some more focus of users in India towards bitcoins.

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[upsidedown75]

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

Yes it will take time but now I think it will grow at much faster pace because even government is promoting digital payment system.

People's trust on online transactions is increasing day by day in India hence more and more people are attracted towards Bitcoins. Soon India will also on the same track as china and Indonesia in terms of usage of Bitcoin.

[Tanic]

If Indian government don't block bitcoin it can have great future there. First of all it's population and second cause of the financial situation to majority of people.

[Xester]

India is a country consisting of those extraordinary. I am sure, if bitcoin developed in India, it will spread throughout the world, in fact I'm pretty sure that bitcoin can be used to the maximum, whether it is for individuals or for business purposes. I believe that bitcoin will last a long time in India.

There are many poor people in india and many cannot avail internet services. While others who have access doesnt mind this cryptocurrency. This time bitcoin is new to India but later on when their economic system and their way of living turns digital, bitcoin will be appreciated and used. IF that will happen then we are also lucky since at that time bitcoin will be bought on a much higher price than this time.

[Yakamoto]

India is a country consisting of those extraordinary. I am sure, if bitcoin developed in India, it will spread throughout the world, in fact I'm pretty sure that bitcoin can be used to the maximum, whether it is for individuals or for business purposes. I believe that bitcoin will last a long time in India.

There are many poor people in india and many cannot avail internet services. While others who have access doesnt mind this cryptocurrency. This time bitcoin is new to India but later on when their economic system and their way of living turns digital, bitcoin will be appreciated and used. IF that will happen then we are also lucky since at that time bitcoin will be bought on a much higher price than this time.

This is something a lot of people forget; even though the Indian government is opting to remove the large bank notes from their monetary supply, there's still over a billion people in India and, if you look at the economic status of that country, there are a lot of people who don't have access to the internet, let alone an internet-supporting device. Bitcoin is a long ways away from being useful in that region.

[Zadicar]

India is a country consisting of those extraordinary. I am sure, if bitcoin developed in India, it will spread throughout the world, in fact I'm pretty sure that bitcoin can be used to the maximum, whether it is for individuals or for business purposes. I believe that bitcoin will last a long time in India.

There are many poor people in india and many cannot avail internet services. While others who have access doesnt mind this cryptocurrency. This time bitcoin is new to India but later on when their economic system and their way of living turns digital, bitcoin will be appreciated and used. IF that will happen then we are also lucky since at that time bitcoin will be bought on a much higher price than this time.

This is something a lot of people forget; even though the Indian government is opting to remove the large bank notes from their monetary supply, there's still over a billion people in India and, if you look at the economic status of that country, there are a lot of people who don't have access to the internet, let alone an internet-supporting device. Bitcoin is a long ways away from being useful in that region.

Economic state of that region does really affect the bitcoin adoption because as you said internet access is not rampant on a certain area which means it would really takes time for people to engage and have awareness on bitcoin.If they would able to know crypto they would somehow improved their way of life.

[simpler2016]

India is a country consisting of those extraordinary. I am sure, if bitcoin developed in India, it will spread throughout the world, in fact I'm pretty sure that bitcoin can be used to the maximum, whether it is for individuals or for business purposes. I believe that bitcoin will last a long time in India.

There are many poor people in india and many cannot avail internet services. While others who have access doesnt mind this cryptocurrency. This time bitcoin is new to India but later on when their economic system and their way of living turns digital, bitcoin will be appreciated and used. IF that will happen then we are also lucky since at that time bitcoin will be bought on a much higher price than this time.

This is something a lot of people forget; even though the Indian government is opting to remove the large bank notes from their monetary supply, there's still over a billion people in India and, if you look at the economic status of that country, there are a lot of people who don't have access to the internet, let alone an internet-supporting device. Bitcoin is a long ways away from being useful in that region.

Economic state of that region does really affect the bitcoin adoption because as you said internet access is not rampant on a certain area which means it would really takes time for people to engage and have awareness on bitcoin.If they would able to know crypto they would somehow improved their way of life.

You're right, but that the Government of India does not promote cryptocurrency. The government prohibits it. A people can not be trusted Bitcoin

[Dudeperfect]

India is a country consisting of those extraordinary. I am sure, if bitcoin developed in India, it will spread throughout the world, in fact I'm pretty sure that bitcoin can be used to the maximum, whether it is for individuals or for business purposes. I believe that bitcoin will last a long time in India.

There are many poor people in india and many cannot avail internet services. While others who have access doesnt mind this cryptocurrency. This time bitcoin is new to India but later on when their economic system and their way of living turns digital, bitcoin will be appreciated and used. IF that will happen then we are also lucky since at that time bitcoin will be bought on a much higher price than this time.

I have a good set of expectations in my mind when it comes to Bitcoin in India. The population has an average age of less than 35 years and the efforts for improving digital literacy is being taken on very high level in the government. Recent cash crisis is proving beneficial to attract citizens towards cashless payment system, and if they can use cashless payment system in fiat, then they are almost ready to use bitcoin. Mark my words, in next five years, India will be among top players of bitcoin’s user group.

[Sithara007]

You're right, but that the Government of India does not promote cryptocurrency. The government prohibits it. A people can not be trusted Bitcoin

Normally, the governments in third world nations are not in favor of Bitcoin usage. China and India are examples for this policy. Tax evasion is a big problem in these nations, and Bitcoin is playing its part in helping people to hide their taxable income.

[antonioa]

You're right, but that the Government of India does not promote cryptocurrency. The government prohibits it. A people can not be trusted Bitcoin

Normally, the governments in third world nations are not in favor of Bitcoin usage. China and India are examples for this policy. Tax evasion is a big problem in these nations, and Bitcoin is playing its part in helping people to hide their taxable income.

You are right, for countries with weak economies Bitcoin is a big problem. But the government makes it impossible for the lives of their citizens, and they are forced to look for a way to somehow survive.

[BitHodler]

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.

With a polulation number of nearly 1.3 billion, India can turn out to be the next China in terms of Bitcoin popularity. Imagine what it will do with the price.

People will slowly start to realize that the government they are living under, isn't doing anything for them. If the government there pushes people a bit further, then it will only stimulate Bitcoin adoption even more.

I am quite sure that in the coming years it will be much easier for people there to take positions into Bitcoin. Right now it's still a fairly difficult task, but it won't stay like this forever. Fasten your seatbelts already!

[The_prodigy]

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

Yes it will take time but now I think it will grow at much faster pace because even government is promoting digital payment system.

People's trust on online transactions is increasing day by day in India hence more and more people are attracted towards Bitcoins. Soon India will also on the same track as china and Indonesia in terms of usage of Bitcoin.

They already adopt bitcoin in india to be honest they buying bitcoin plus 15% of additional to its original price if they goverment start imposing bitcoin then those people will not use bitcoin anymore. Bitcoin is easily to create transaction and can be send money worldwide with less fees not like another branch

[2double0]

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

Yes it will take time but now I think it will grow at much faster pace because even government is promoting digital payment system.

People's trust on online transactions is increasing day by day in India hence more and more people are attracted towards Bitcoins. Soon India will also on the same track as china and Indonesia in terms of usage of Bitcoin.

They already adopt bitcoin in india to be honest they buying bitcoin plus 15% of additional to its original price if they goverment start imposing bitcoin then those people will not use bitcoin anymore. Bitcoin is easily to create transaction and can be send money worldwide with less fees not like another branch

No government would let anyone eat the whole cake while knowing that you are "stealing" tax from them through such ways out of which, bitcoin is one. But, even if government start imposing taxes on bitcoins, people could still use bitcoins there as the beauty of this thing will let them decide the price they want to sell it for, and not the government who will keep an eye just on their transactions' taxable amounts.

[absy]

I am an Indian and Yes I agree to this . I will try to give some reasons why Indians don't have any idea about BTC .

According to 2011 cencus -> 68.84% of Indians  live in villages.  236,004 Indian villages have a population of fewer than 500, while 3,976 villages have a population of 10,000+.

I would say almost 50% of these people doesn't have idea about "Internet" itself . Its a unfortunate thing but many of us are trying hard to popularize BTC in our local areas as well as many ISP are striving hard to make people understand about Internet and how to use them .

[Yuuto]

I am an Indian and Yes I agree to this . I will try to give some reasons why Indians don't have any idea about BTC .

According to 2011 cencus -> 68.84% of Indians  live in villages.  236,004 Indian villages have a population of fewer than 500, while 3,976 villages have a population of 10,000+.

I would say almost 50% of these people doesn't have idea about "Internet" itself . Its a unfortunate thing but many of us are trying hard to popularize BTC in our local areas as well as many ISP are striving hard to make people understand about Internet and how to use them .

Defintiely. For bitcoin to thrive first we need to get people internet access. Or, better yet, bring internet access through something that they already have, like a mobile phone that they already use on a daily basis.

There are bitcoin companies that are using SMS to send and receive bitcoin. You simply send an SMS to a mobile phone number and that will trigger the send/receive function.

However there is no incentive for Indians to start using bitcoins now.

[butcherboss]

In India you can easily buy or sell bitcoin for currency many people do that, but if you wish to use your bitcoins in order to buy some product it is near impossible. So there is trading but no usage.

[X-ray]

In India you can easily buy or sell bitcoin for currency many people do that, but if you wish to use your bitcoins in order to buy some product it is near impossible. So there is trading but no usage.

i just heard from some indians that the price of bitcoin there have some sort of margin that makes it's higher than in other exchangers which is internationally known such as btc-e or bitfinex that's very unfortunately but the fact. if you know that bitcoin can be easily buy or sell in there why there's having a problem like that? i honestly really want to know the exact amount of bitcoin volume in 24 hours transacted in india

[Przemax]

China is completly different from India. It has

1. Higher urbanisation
2. Growing wages
3. Public education for most of people
4. Have a group of people totally oposed to the government

In India we have none of those, which means no access to easy internet, no savings and not  even ability to read in many cases. And yeah political and global awreness help in getting the knowledge about bitcoin.

Dont get me wrong India is still huge market, but its nowhere near to be next China for bitcoin.

[usefrees]

China is completly different from India. It has

1. Higher urbanisation
2. Growing wages
3. Public education for most of people
4. Have a group of people totally oposed to the government

In India we have none of those, which means no access to easy internet, no savings and not  even ability to read in many cases. And yeah political and global awreness help in getting the knowledge about bitcoin.

Dont get me wrong India is still huge market, but its nowhere near to be next China for bitcoin.

Yes, I also think that India is a long time to be able to catch up with China in terms of turnover Bitcoin and many other indicators.

[BitcoinHodler]

China is completly different from India. It has

1. Higher urbanisation
2. Growing wages
3. Public education for most of people
4. Have a group of people totally oposed to the government

In India we have none of those, which means no access to easy internet, no savings and not  even ability to read in many cases. And yeah political and global awreness help in getting the knowledge about bitcoin.

Dont get me wrong India is still huge market, but its nowhere near to be next China for bitcoin.

Yes, I also think that India is a long time to be able to catch up with China in terms of turnover Bitcoin and many other indicators.

i am not so sure about that, Indian are known for their online jobs and whenever there is some money to be earned online they are there. and investing in bitcoin is one of those cases, and because they are an under developed country to some extent it took a bit longer time but it seems they are catching up and adopting bitcoin just fine.