Bitcoin in India? Not for a LOOOOONG time.

[absy]

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.

Well yeah you are right . Indians do participate in many online jobs and we invest in BTC and other related things but given the population of 130 crore only 1% or 1.5% are aware of BTC , the remaining have no idea about it ,so yes India is still behind most of the other countries .

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[Sithara007]

Well yeah you are right . Indians do participate in many online jobs and we invest in BTC and other related things but given the population of 130 crore only 1% or 1.5% are aware of BTC , the remaining have no idea about it ,so yes India is still behind most of the other countries .

The level of Bitcoin awareness in India is almost the same as in other developing nations such as China and Brazil. The percentage might be small, but the overall numbers are quite high, due to the huge population.

[chesatochi]

Well yeah you are right . Indians do participate in many online jobs and we invest in BTC and other related things but given the population of 130 crore only 1% or 1.5% are aware of BTC , the remaining have no idea about it ,so yes India is still behind most of the other countries .

The level of Bitcoin awareness in India is almost the same as in other developing nations such as China and Brazil. The percentage might be small, but the overall numbers are quite high, due to the huge population.

I'm pretty sure the vast majority of people in India I not aware of the existence of bitcoin. But a good percentage of India receive they payment in bitcoin for the stuff they do online and exchange it into they local currency. As you may know, a lot of people speak English there and is one of the top countries that is doing outsourcing for the west countries.

Should not be long they will ask to be pay only in bitcoin

[FaucetRank.com]

Well yeah you are right . Indians do participate in many online jobs and we invest in BTC and other related things but given the population of 130 crore only 1% or 1.5% are aware of BTC , the remaining have no idea about it ,so yes India is still behind most of the other countries .

The level of Bitcoin awareness in India is almost the same as in other developing nations such as China and Brazil. The percentage might be small, but the overall numbers are quite high, due to the huge population.

I'm pretty sure the vast majority of people in India I not aware of the existence of bitcoin. But a good percentage of India receive they payment in bitcoin for the stuff they do online and exchange it into they local currency. As you may know, a lot of people speak English there and is one of the top countries that is doing outsourcing for the west countries.

Should not be long they will ask to be pay only in bitcoin

Yes I agree with you, I'm from India and I belong from a village and I know about Bitcoin that's why I'm here so we can imagine how fast India is developing. Many young guys living in urban area also do not know about when I talk about Bitcoin they generally ask one question what is this?    Sometimes I answer and some times I hate this question.

[Amph]

Well yeah you are right . Indians do participate in many online jobs and we invest in BTC and other related things but given the population of 130 crore only 1% or 1.5% are aware of BTC , the remaining have no idea about it ,so yes India is still behind most of the other countries .

The level of Bitcoin awareness in India is almost the same as in other developing nations such as China and Brazil. The percentage might be small, but the overall numbers are quite high, due to the huge population.

in china there are more people that are aware of bitcoin, this is simply because the largest mining operation is residing there, india joined the party from the moment their two big pieces of fiat note were banned

[Drago2016]

Well yeah you are right . Indians do participate in many online jobs and we invest in BTC and other related things but given the population of 130 crore only 1% or 1.5% are aware of BTC , the remaining have no idea about it ,so yes India is still behind most of the other countries .

The level of Bitcoin awareness in India is almost the same as in other developing nations such as China and Brazil. The percentage might be small, but the overall numbers are quite high, due to the huge population.

in china there are more people that are aware of bitcoin, this is simply because the largest mining operation is residing there, india joined the party from the moment their two big pieces of fiat note were banned

India is a very promising country for Bitcoins. But, unfortunately, the mentality of people is not yet ready to accept Bitcoin as payment.

[sportis]

Most of us we cannot understand how huge is the population of India and China today and we are looking only the percent rates. Therefore, easy we can find today population in China is about 1,382 bn and India is 1,335 bn according to http://countrymeters.info/. So as a member of the forum above told about 1.5 % its a very big percent of bitcoin users worldwide.  Hence OPs prediction is not representative because he is taking under consideration only the population of Nepal.

[xIIImaL]

Most of us we cannot understand how huge is the population of India and China today and we are looking only the percent rates. Therefore, easy we can find today population in China is about 1,382 bn and India is 1,335 bn according to http://countrymeters.info/. So as a member of the forum above told about 1.5 % its a very big percent of bitcoin users worldwide.  Hence OPs prediction is not representative because he is taking under consideration only the population of Nepal.

India is now trying opt all the aspects of digital transaction and recent currency change issue makes people to have look on Indian economy. Due to this I think bitcoin can largely implement in india due to its population. Example, if we implement bitcoin mode of payment in online store. People will utilize their bitcoins as a payment and a payment window.

[Supercrypt]

Well yeah you are right . Indians do participate in many online jobs and we invest in BTC and other related things but given the population of 130 crore only 1% or 1.5% are aware of BTC , the remaining have no idea about it ,so yes India is still behind most of the other countries .

The level of Bitcoin awareness in India is almost the same as in other developing nations such as China and Brazil. The percentage might be small, but the overall numbers are quite high, due to the huge population.

in china there are more people that are aware of bitcoin, this is simply because the largest mining operation is residing there, india joined the party from the moment their two big pieces of fiat note were banned

India is a very promising country for Bitcoins. But, unfortunately, the mentality of people is not yet ready to accept Bitcoin as payment.

Many people not just in India, but all over the world have never heard of bitcoin, and I don’t think they do want to know about it , they are used to using fiat for a long time and trying to bring something new to their lives and change their ways is a very hard thing , but the minority of people who are using it are just using it as another source of income nothing less.

[OROBTC]

...

When I started this thread, I had noted my own experience in India as a tourist, talking with some people there and our guide.  We were there, of course, well before Modi's decision to ban their two "large" denomination" bank notes (500 and 1000 rupees).

I am interested to watch India's evolution in their thinking and adoption of Bitcoin.  Yes, they have BOTH a huge population ignorant of Bitcoin (in the villages and rural areas) as well as their interesting High Tech sector.

Perhaps the same dynamics of Bitcoin acceptance in India might track the rest of the world's: that Bitcoin will grow only if there are more people who buy & use it AND merchant acceptance of BTC as payment.  The latter (those who will accept BTC as payment) may be the more critical factor.


More comments from resident users of BTC from India are extremely welcome!

[Taki]

I heard that Indian government are providing some new politic. Banknotes of large denomination declared a outlaw. And now they are creating same kind politic to the gold. With such way they are get and to bitcoin soon. They call this kind of politic as necessary in the struggle against corruption. But I think such methods will just rise the level if corruption in that country.

[OROBTC]

...

Things may be beginning to change there in INDIA!   

"Bitcoin India" just won a block (446511), it may be their first one:

https://blockchain.info/block/00000000000000000010900e720a97c1ae15033dd84f9653abb148efaaba6f26

Readers of this thread may want to keep an eye on Bitcoin India.

[Sithara007]

India is a very promising country for Bitcoins. But, unfortunately, the mentality of people is not yet ready to accept Bitcoin as payment.

In India, the people are more wary about the security aspects, and also about the exchange rates. Even the government approved online payment methods have failed to get a good number of users.

[absy]

I heard that Indian government are providing some new politic. Banknotes of large denomination declared a outlaw. And now they are creating same kind politic to the gold. With such way they are get and to bitcoin soon. They call this kind of politic as necessary in the struggle against corruption. But I think such methods will just rise the level if corruption in that country.

This is done keeping the following things in mind
1. To stop corruption
2. To bring the Black money out .
3. To increase the use of Mobile wallets / online wallets .

After the ban of 500 rs and 1000 rs notes the use of paytm ( Wallet ) increased drastically . I hope in future the same thing happen with BTC.

[Sithara007]

After the ban of 500 rs and 1000 rs notes the use of paytm ( Wallet ) increased drastically . I hope in future the same thing happen with BTC.

The government has launched its own online mobile payment gateway, called BHIM. It has the potential to steal users away from PayTM. But PayTM is not going to concede. They will attempt to retain their users by giving promotional offers and freebies.

[farhaan]

Majority of people in india dont know about bitcoins. Most people dont have credit card and so it will take long time for indians to adapt themselves to the digital currency Bitcoin. But when indians start using bitcoins, it would create a tremendous increase in demand for bitcoins globally.

[Huge Black Woman]

Majority of people in india dont know about bitcoins. Most people dont have credit card and so it will take long time for indians to adapt themselves to the digital currency Bitcoin. But when indians start using bitcoins, it would create a tremendous increase in demand for bitcoins globally.

Well whut is they usin' fo money over there?  Cash?  Y'all mean ta tell me that every punjabbi onna planet be usin' paper money an' dey don' have credit cards?  That seem a bit ree-diculous to me, but I can't verify my doubts from where I'm presently seated.  This one time ONLY, Imma hafta take yo word on thissa matter.

[Sithara007]

Majority of people in india dont know about bitcoins. Most people dont have credit card and so it will take long time for indians to adapt themselves to the digital currency Bitcoin. But when indians start using bitcoins, it would create a tremendous increase in demand for bitcoins globally.

As per the latest stats, there are some 20 million credit cards in use, in India. This is a very small number, as the total Indian population is close to 1,300 million. But the annual increase is huge, in percentage terms.

[X-ray]

As per the latest stats, there are some 20 million credit cards in use, in India. This is a very small number, as the total Indian population is close to 1,300 million. But the annual increase is huge, in percentage terms.

then it's true that majority is not using debit card but its society are growing fastly to implement technology in their life as you said that the annual increase is huge,even though bitcoin still can be bought through other method and not only credit cards, the percentage of credit cards user in some countries have nothing to do with bitcoin

[Sithara007]

then it's true that majority is not using debit card but its society are growing fastly to implement technology in their life as you said that the annual increase is huge,even though bitcoin still can be bought through other method and not only credit cards, the percentage of credit cards user in some countries have nothing to do with bitcoin

The number of debit cards will be significantly higher than that of the credit cards, and the government is also encouraging people to use them. But Bitcoin receives no such encouragement. The government actually discourages people from using BTC.