Indians and Bitcoin

[btvGainer]

I was wondering if we indians have any additional advantage or benefits of using Bitcoin that rest if the world dont have?
Share your thoughts

[skang]

1. I think blockchain transparency can solve corruption in many use-cases.
2. Blockchain as protocol can solve problems with democracy i.e, minority suffering at the hands of majority by introducing autonomous control a.k.a swaraj.
3. Adopting bitcoin as currency can open India to the global economy in ways even bigger than how internet helps countries become a part of global economy.

[I am writing a book about these in detail.]

[mynameisdon]

i think not possible yet because specially in india don't have much focas on crypto currencies.bitcoin may be most serious in India if government make rule to pay employees in bitcoin by every private company and government too.
and in technical area of btc nothing can be changed because bitcoin was made just by one person not any organization.only satoshi can change its function,tools...etc

[btvGainer]

1. I think blockchain transparency can solve corruption in many use-cases.

I think it would also encourage more corruption because of anonymity

i think not possible yet because specially in india don't have much focas on crypto currencies.bitcoin may be most serious in India if government make rule to pay employees in bitcoin by every private company and government too.
and in technical area of btc nothing can be changed because bitcoin was made just by one person not any organization.only satoshi can change its function,tools...etc

As far as i know,Bitcoin protocol can be changed with concensus

[globalgaurav]

if you come to think of it, most innovative technologies like bitcoin can be extremely shameless / ego-less!

it doesn't care if you're an indian or jamaican

white, black or even green, for that matter

this 'global village' will only continue to keep shrinking

[btvGainer]

if you come to think of it, most innovative technologies like bitcoin can be extremely shameless / ego-less!

it doesn't care if you're an indian or jamaican

white, black or even green, for that matter

this 'global village' will only continue to keep shrinking

Yes you are right technology cannot differentiate but its benefits can be different to different people and nations

[skang]

1. I think blockchain transparency can solve corruption in many use-cases.

I think it would also encourage more corruption because of anonymity

Right. I said many, not all. It depends how you implement the system. For ex, notarizing documents on blockchain can help uproot our corrupt notary system.

[Cyaren]

I was wondering if we indians have any additional advantage or benefits of using Bitcoin that rest if the world dont have?
Share your thoughts

I'd say that India is relatively underdeveloped in terms of internet usage and technological adoption. Bitcoin can encourage rural people to get a PC, a laptop, or a mobile phone.

It is also a good payment means for people living overseas to send money back to their relatives, or the opposite way around. Using western union might take a lot of fees, but with bitcoins it's almost none.

[btvGainer]

I was wondering if we indians have any additional advantage or benefits of using Bitcoin that rest if the world dont have?
Share your thoughts

I'd say that India is relatively underdeveloped in terms of internet usage and technological adoption. Bitcoin can encourage rural people to get a PC, a laptop, or a mobile phone.

People who do not have access to internet can hardly know about the Bitcoin

It is also a good payment means for people living overseas to send money back to their relatives, or the opposite way around. Using western union might take a lot of fees, but with bitcoins it's almost none.

That's true,fee with bitcoin is almost negligible but that is not something unique to Indian users.Irrespective of your location or nationality,the fee is same

[Digitalbitcoin]

We are indians Even I am also And we belongs to Tier 3 country.

Already Tier 1 and Tier 2 countries have implemented vastly there economics adopting cryptocurrency. Bcz its a future.
In India its just has beginning will take more time to people get involved in bitcoin.

[anil k s]

We are indians Even I am also And we belongs to Tier 3 country.

Already Tier 1 and Tier 2 countries have implemented vastly there economics adopting cryptocurrency. Bcz its a future.
In India its just has beginning will take more time to people get involved in bitcoin.

I Agree with you, Our people need to be educated how the things work in this platform like how to earn Bitcoins and convert into Rupees.

[@prashant]

I was wondering if we indians have any additional advantage or benefits of using Bitcoin that rest if the world dont have?
Share your thoughts

Most of indian are not even aware of btc as india overall literacy rate is low.it is major factor that everyone is not connected with digital world.but let hope that india would lead btc to a new height as there are upcoming new btc company to india.

[bitcoinusd]

I was wondering if we indians have any additional advantage or benefits of using Bitcoin that rest if the world dont have?
Share your thoughts

Most of indian are not even aware of btc as india overall literacy rate is low.it is major factor that everyone is not connected with digital world.but let hope that india would lead btc to a new height as there are upcoming new btc company to india.

Yes totally agree with you.Literacy rate Is less in india and even those who are literate most of them didn't know about what bitcoin is.
I don't see if Indians have any advantage over bitcoin than that rest of the world may be even less.

[dandroid]

Bitcoin is almost everywhere these days.

[philiveyjr]

Definitely one use could be to tackle corruption and black money. Its hard to make laws relating to that strict in our country and I read somwhere today about a cashless country and how it will benefit India. So Bitcoin would definitely have been perfect for that.

[subham1]

I dont see indians having more advantage on bitcoins.
Bitcoins in india are not that much popular still so we cannot use them offline,if we tell some one about it may be they would laugh as us.

[jayguar]

Bitcoin has a long way to go in India. The general idea is that Bitcoin is illegal in India. I once asked a bank manager of a nationalized bank and his response was it is a crime to use bitcoin since it is against the law. Such type of fear is placed in most places. This misconception needs to go for bitcoin to become a major success in India.