[Daily Discussion] Monday October 10, 2016

[BTC_Markets]

I thought I'd start a daily discussion thread to kind of regroup Speculation thoughts in one topic and make it easier for everyone to see what everyone is thinking.

If there's some interest I'll keep creating these threads daily and kick the discussion off with some Daily technical analysis and News/Twitter aggregation links around Bitcoin.

If you're interested reply in this topic so I know.

Topics can include, but are not limited to:

• General discussion related to the days events
• Technical analysis
• Trading ideas & strategies
• News, catalysts, world events
• Questions that do not warrant a separate topic

[1714879034]

1714879034

[maku]

Have you guys heard about this? http://bitcoinist.net/india-massive-rise-bitcoin-price/

It seems that India may be the source of Bitcoin’s next advance. Asia already have huge effect on BTC price.

But when India will join bitcoin hype train we may see another level of adaption.

[gentlemand]

It seems that India may be the source of Bitcoin’s next advance. Asia already have huge effect on BTC price.

Other than puff pieces I haven't seen any other hard metrics to back up India's growing excitement. Considering they love gold, have lots of IT expertise and growing prosperity in certain areas you'd think it would start to fly but I'm not seeing much evidence.

[talks_cheep]

Wishful thinking at best. India's climate is too hot for mining, there's no infrastructure for exchanges, its government's too hostile to bitcoin's philosophy, its people are not interested in cryptocurrency, too many strikes against India being the next China. Will never happen. Guaranteed.

[Snorek]

Wishful thinking at best. India's climate is too hot for mining, there's no infrastructure for exchanges, its government's too hostile to bitcoin's philosophy, its people are not interested in cryptocurrency, too many strikes against India being the next China. Will never happen. Guaranteed.

It is not that we don't have AC, we are no living in the Middle Ages anymore climate is not a problem as long as you have electrical power.

What infrastructure for exchanges is needed exactly? Because online exchanges can be established basically in one office, you don't need 'infrastructure' for that

I didn't hear about any info of Indian government being hostile towards BTC. Any news?

[OROBTC]

...

Because of the BTC price spike, the Bitcoin:Gold price ratio is now below 2.00 for the first time in months (easy reference at ounce.me).  At that level (gold cheap relative to BTC) I almost get an irresisitible itch to trade some of my BTC for gold...

*   *   *

I have always wondered about India and BTC.  When we were there almost a year ago, NOBODY I talked to knew squat.  Even some young guys into computers.  It seems like India and BTC would be a natural fit, but apparently not.

I did read a while that India's .gov is hostile to BTC, perhaps under Modi maybe not (?)