how was liquidity achieved in india?

[simple_love]

bitcoin has recently started picking up in india. i was looking at trade volumes on coinesure and it is impressively high (1000s of btcs).

i am curious to understand how the early amount of bitcoins were available in india? were there so many miners in india who had bitcoins in india even before exchanges started operating?

it is a very interesting concept to discuss, because a decentralized asset (controlled-by-all) spiking adoption in india when no one really owned any earlier is quite a challenge. i really appreciate the people here driving the adoption forward. given how mining difficulty has gone so high in recent times,have people in india mining with so much hardware?

[Benson Samuel]

We have couple of large users/ partners plugged into our API.
We offer some pretty neat addons for custom requests, etc and the rest of the trades are organic or bot based.

This was an expected outcome as we built Coinsecure. India did lack infra for most of this.
Our next few steps are gonna be even cooler in terms of adoption and volumes.

[simple_love]

We have couple of large users/ partners plugged into our API. We offer some pretty neat addons for custom requests, etc and the rest of the trades are organic or bot based.  This was an expected outcome as we built Coinsecure. India did lack infra for most of this. Our next few steps are gonna be even cooler in terms of adoption and volumes. 

what do you mean by bot based trades? when we see volumes on coinsecure (exchange data) does each transaction mean at least one person involved was a human customer?

by users and partners you mean indian people and companies who had stock of bitcoins that offered to sell on Coinsecure? i am just struggling to understand how "bootstrapping" happened in such an enormous way when the volume of bitcion in india was so little. it was a real challenge, kudos to early bitcoin companies.

[Benson Samuel]

We have couple of large users/ partners plugged into our API. We offer some pretty neat addons for custom requests, etc and the rest of the trades are organic or bot based.  This was an expected outcome as we built Coinsecure. India did lack infra for most of this. Our next few steps are gonna be even cooler in terms of adoption and volumes. 

what do you mean by bot based trades? when we see volumes on coinsecure (exchange data) does each transaction mean at least one person involved was a human customer?

by users and partners you mean indian people and companies who had stock of bitcoins that offered to sell on Coinsecure? i am just struggling to understand how "bootstrapping" happened in such an enormous way when the volume of bitcion in india was so little. it was a real challenge, kudos to early bitcoin companies.

Humans run those bots , through our api.
The transactions and logic are set by users. We just provide the platform and tools to make that happen easily.

Really can't disclose more than this without getting into nitty gritties, that I wont be getting into

But the overall tempo of Bitcoin trades across India has improved dramatically. And its growing faster each day.

[simple_love]

We have couple of large users/ partners plugged into our API. We offer some pretty neat addons for custom requests, etc and the rest of the trades are organic or bot based.  This was an expected outcome as we built Coinsecure. India did lack infra for most of this. Our next few steps are gonna be even cooler in terms of adoption and volumes. 

what do you mean by bot based trades? when we see volumes on coinsecure (exchange data) does each transaction mean at least one person involved was a human customer?

by users and partners you mean indian people and companies who had stock of bitcoins that offered to sell on Coinsecure? i am just struggling to understand how "bootstrapping" happened in such an enormous way when the volume of bitcion in india was so little. it was a real challenge, kudos to early bitcoin companies.

Humans run those bots , through our api.
The transactions and logic are set by users. We just provide the platform and tools to make that happen easily.

Really can't disclose more than this without getting into nitty gritties, that I wont be getting into

But the overall tempo of Bitcoin trades across India has improved dramatically. And its growing faster each day.

fair enough i feel that if all the bitcoins we trade in india were india mined, then govt will not give any troubles. that will be a superb self sustained ecosystem. govt can later regulate foreign transfers if they want.

and yes, it is obvious bitcoins is picking up seeing how companies like zebpay,unocoin,coinsecure,btcxindia are still up and running enthusiastically
obviously there seems to be a future.

[dashingriddler]

It is extremely difficult for the government to trade what coins are India mined and what are not. Especially if they start digging into this after a few years when they want regulation in place.

They probably end up taking declarations from users than actively regulate bitcoin.

[Rotten Egg]

bitcoin has recently started picking up in india. i was looking at trade volumes on coinesure and it is impressively high (1000s of btcs).

Could you plz point me to the link where u have got this figure? Is it 1000+ BTC per day?

i am curious to understand how the early amount of bitcoins were available in india? were there so many miners in india who had bitcoins in india even before exchanges started operating?

Read more about escrow.ms.

it is a very interesting concept to discuss, because a decentralized asset (controlled-by-all) spiking adoption in india when no one really owned any earlier is quite a challenge. i really appreciate the people here driving the adoption forward. given how mining difficulty has gone so high in recent times,have people in india mining with so much hardware?

Lots of ancient bitcoin miners are from India. They mined 50 BTC per block with their CPU/GPU. Some freelancers earned hundreds of BTC when BTC used to cost less than 10 USD.

[simple_love]

Could you plz point me to the link where u have got this figure? Is it 1000+ BTC per day?

coinsecure tweeted once that they have traded 3k+ BTC in one month.

Read more about escrow.ms.

are you saying one person was responsible for achieving liquidity? how did he get bitcoins?

Lots of ancient bitcoin miners are from India. They mined 50 BTC per block with their CPU/GPU. Some freelancers earned hundreds of BTC when BTC used to cost less than 10 USD.

this is interesting, but quite expected in a country with a billion people and lots of techies. do you know this for a fact or you just hypothesising?

[xavier77]

Gambling is banned in India right? I wonder if CC is allowed
I dont know much about Coinsecure getting 3k or more trades in India, but what escrow.ms was doing is still their are so many users from India who are doing buying and selling through so many sites which are not able to get recorded. I totally agree that Indians are also the user of Bitcoin from early age but that was very little knows by most of them.

Yes youre right

[zencomp]

Could you plz point me to the link where u have got this figure? Is it 1000+ BTC per day?

coinsecure tweeted once that they have traded 3k+ BTC in one month.

Read more about escrow.ms.

are you saying one person was responsible for achieving liquidity? how did he get bitcoins?

Lots of ancient bitcoin miners are from India. They mined 50 BTC per block with their CPU/GPU. Some freelancers earned hundreds of BTC when BTC used to cost less than 10 USD.

this is interesting, but quite expected in a country with a billion people and lots of techies. do you know this for a fact or you just hypothesising?

I dont know much about Coinsecure getting 3k or more trades in India, but what escrow.ms was doing is still their are so many users from India who are doing buying and selling through so many sites which are not able to get recorded. I totally agree that Indians are also the user of Bitcoin from early age but that was very little knows by most of them.

[simple_love]

I dont know much about Coinsecure getting 3k or more trades in India, but what escrow.ms was doing is still their are so many users from India who are doing buying and selling through so many sites which are not able to get recorded. I totally agree that Indians are also the user of Bitcoin from early age but that was very little knows by most of them.

i am not 100% sure about the 3k number, but i remember seeing a tweet like that. i apologise if this is not true. please feel free to delete my post if it isn't true.

all this constructive discussion is to understand the potential of bitcoin in india and how "early" adopters we are/will be. for example, i was pleasantly surprised to hear that there were indians were way ahead of this forum who got into bitcoin early on.

[Benson Samuel]

I dont know much about Coinsecure getting 3k or more trades in India, but what escrow.ms was doing is still their are so many users from India who are doing buying and selling through so many sites which are not able to get recorded. I totally agree that Indians are also the user of Bitcoin from early age but that was very little knows by most of them.

i am not 100% sure about the 3k number, but i remember seeing a tweet like that. i apologise if this is not true. please feel free to delete my post if it isn't true.

all this constructive discussion is to understand the potential of bitcoin in india and how "early" adopters we are/will be. for example, i was pleasantly surprised to hear that there were indians were way ahead of this forum who got into bitcoin early on.

Close to 3k, but not yet. That looks like the forecast for next month

"December 2015" : "2848.316",
"January 2016" : "2830.204"

[bitcoinisfurture]

I hope it would have crossed 3K by now.

What is the status for Feb 2016 & March till today?

[Benson Samuel]

I hope it would have crossed 3K by now.

What is the status for Feb 2016 & March till today?

Probably April.. .  
https://coinsecure.in/howMuch
{
  "dashboard" : [ {
    "Total" : "14816.5384",
    "2015 Total" : "7113.78",
    "2016 Total" : "7702.7584"
  }, {
    "January 2015" : "47.866",
    "February 2015" : "63.796",
    "March 2015" : "17.582",
    "April 2015" : "25.728",
    "May 2015" : "104.502",
    "June 2015" : "96.262",
    "July 2015" : "90.108",
    "August 2015" : "145.62",
    "September 2015" : "324.378",
    "October 2015" : "1003.381",
    "November 2015" : "2346.241",
    "December 2015" : "2848.316",
    "January 2016" : "2830.204",
    "February 2016" : "2049.8077",
    "March 2016" : "2718.3217"
  } ]
}

[bitcoinisfurture]

I hope it would have crossed 3K by now.

What is the status for Feb 2016 & March till today?

Probably April.. .  
https://coinsecure.in/howMuch
{
  "dashboard" : [ {
    "Total" : "14816.5384",
    "2015 Total" : "7113.78",
    "2016 Total" : "7702.7584"
  }, {
    "January 2015" : "47.866",
    "February 2015" : "63.796",
    "March 2015" : "17.582",
    "April 2015" : "25.728",
    "May 2015" : "104.502",
    "June 2015" : "96.262",
    "July 2015" : "90.108",
    "August 2015" : "145.62",
    "September 2015" : "324.378",
    "October 2015" : "1003.381",
    "November 2015" : "2346.241",
    "December 2015" : "2848.316",
    "January 2016" : "2830.204",
    "February 2016" : "2049.8077",
    "March 2016" : "2718.3217"
  } ]
}

2718 till 29th March. 2 days to go. Almost there for 3000. Hoping it could accomplish in this month itself. Since little price has dropped chance is there that CS will be able to make it in March itself. Good going.

[Benson Samuel]

I hope it would have crossed 3K by now.

What is the status for Feb 2016 & March till today?

Probably April.. .  
https://coinsecure.in/howMuch
{
  "dashboard" : [ {
    "Total" : "14816.5384",
    "2015 Total" : "7113.78",
    "2016 Total" : "7702.7584"
  }, {
    "January 2015" : "47.866",
    "February 2015" : "63.796",
    "March 2015" : "17.582",
    "April 2015" : "25.728",
    "May 2015" : "104.502",
    "June 2015" : "96.262",
    "July 2015" : "90.108",
    "August 2015" : "145.62",
    "September 2015" : "324.378",
    "October 2015" : "1003.381",
    "November 2015" : "2346.241",
    "December 2015" : "2848.316",
    "January 2016" : "2830.204",
    "February 2016" : "2049.8077",
    "March 2016" : "2718.3217"
  } ]
}

Bitcoinrates.in was launched in August 2015

Bitcoinrates and 2 integration's on the API happened in Aug.

[Benson Samuel]

2718 till 29th March. 2 days to go. Almost there for 3000. Hoping it could accomplish in this month itself. Since little price has dropped chance is there that CS will be able to make it in March itself. Good going.

Sooooo.. How many in April?
Looks like you made 3k happen for us with your prediction.

"March 2016" : "3004.0187"

[bitcoinisfurture]

2718 till 29th March. 2 days to go. Almost there for 3000. Hoping it could accomplish in this month itself. Since little price has dropped chance is there that CS will be able to make it in March itself. Good going.

Sooooo.. How many in April?
Looks like you made 3k happen for us with your prediction.

"March 2016" : "3004.0187"

Congrats  . CS achieved the target a month before itself then its predictions. For April 3500 isn't far now.  

Also any idea what is the stats for Zebpay & Unocoin for March ?

[Divinespark]

Not sure what the exact stats for Unocoin are on the volume front, but they are now claiming 60k+ users

[bitcoinisfurture]

How many users does CS have?