[2016-10-10] How India May Cause a Massive Rise in the Bitcoin Price

[tyz]

How India May Cause a Massive Rise in the Bitcoin Price

Bitcoin has risen seven dollars since our last price piece. Presently, the coin is hovering around $618, and Bitcoin enthusiasts are likely feeling impressed right about now. More good news may be on the horizon, as Bitcoin activity in India has ramped up considerably.

http://bitcoinist.net/india-massive-rise-bitcoin-price/

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[Karartma1]

“Remittance industry is another sector where Bitcoin is soon going to play a huge role in the country. India is known to have the largest remittance market, receiving about $70 billion each year. The Indian diaspora spread across the world is known to send money to their immediate families and relatives back home. The remittance volumes also show a significant increase during festivals. While some people already use Bitcoin for cross-border transactions, the Indian Bitcoin companies are gradually moving to capture their share of the market as well.”

If only a 10% of that would shift on bitcoin we're going to the moon for real. I personally helped an indian friend to save quite a few bucks telling him to send his funds as bitcoin instead of being robbed at moneygram

[Kprawn]

India has micro economies and also some very talented programmers and developers. Compared to other 1st world countries these

workers are much cheaper to employ. Bitcoin will thrive in India, if the infrastructure to support it {internet access} will become cheaper

too. The micro transactions and the low tx fees, makes Bitcoin an ideal solution for these countries. 

[aso118]

India has micro economies and also some very talented programmers and developers. Compared to other 1st world countries these

workers are much cheaper to employ. Bitcoin will thrive in India, if the infrastructure to support it {internet access} will become cheaper

too. The micro transactions and the low tx fees, makes Bitcoin an ideal solution for these countries. 

More than programmers and developers, what matters is the large population, i.e., large market.
It will take a lot more time before Indians start trusting pieces of code, but when it does happen, there can be a massive price boost.

[Denker]

India could indeed be a huge market with a population of over a billion people like china.
There are several services offering selling and buying bitcoins. And their number of transactions and deals is growing constantly.The same with localbitcoins over there.
However for a real impact I believe it will take another few more years.Infrastructure has to be build and trust in Bitcoin and the ease of use has to grow and be improved.