Please stop buying bitcoins from India

[baristor]

Enough guys... the more we feed these greedy sellers the more they will increase their prices...

If everyone stops buying btc from India they will be forced to revert to old prices.

Waiting for price to be as good as preev market place price then it's fine this is India not North Korea or Pakistan... even then I suspect those countries will be easier n cheaper to buy btc.

[1714766335]

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[newIndia]

Enough guys... the more we feed these greedy sellers the more they will increase their prices...

If everyone stops buying btc from India they will be forced to revert to old prices.

Waiting for price to be as good as preev market place price then it's fine this is India not North Korea or Pakistan... even then I suspect those countries will be easier n cheaper to buy btc.

Demand > Supply

[yyuvane]

 

Enough guys... the more we feed these greedy sellers the more they will increase their prices...

If everyone stops buying btc from India they will be forced to revert to old prices.

Waiting for price to be as good as preev market place price then it's fine this is India not North Korea or Pakistan... even then I suspect those countries will be easier n cheaper to buy btc.

 

[baristor]

Enough guys... the more we feed these greedy sellers the more they will increase their prices...

If everyone stops buying btc from India they will be forced to revert to old prices.

Waiting for price to be as good as preev market place price then it's fine this is India not North Korea or Pakistan... even then I suspect those countries will be easier n cheaper to buy btc.

Demand > Supply

It's not about greedy people making money, but bitcoin being cheap and available to all.

Thank you.

Dont buy No demand.

[nizamcc]

Enough guys... the more we feed these greedy sellers the more they will increase their prices...

If everyone stops buying btc from India they will be forced to revert to old prices.

Waiting for price to be as good as preev market place price then it's fine this is India not North Korea or Pakistan... even then I suspect those countries will be easier n cheaper to buy btc.

Demand > Supply

It's not about greedy people making money, but bitcoin being cheap and available to all.

Thank you.

Dont buy No demand.

Lolz, it's not about sellers selling their bitcoins, it's about people who are willing to buy even at those prices because of demonetization, and as sellers do know that this is the only time to make money, do you really think that this will get back to its original prices so easily?

[rsarkar]

Let me add something to the ongoing discussion:

Demand>>Supply

There is not a viable channel to buy bitcoins from existing international exchanges like bitstamp because wire transfer is cumbersome and a time taking process.

[jjjack]

so i am form india form where should i buy the bitcoin and why should stop buyinf bitcoin from india its better to level up ur own county

[bitcoinisbest]

so i am form india form where should i buy the bitcoin and why should stop buyinf bitcoin from india its better to level up ur own county

Feel free to buy from wherever you want to buy. Also if you try buying form international market who will pay the wire transfer fees and who pay the fees if paid from Credit cars if that is possible. And if you need btc will you just wait to prices to drop. Good decision go ahead and buy from India.

[baristor]

so i am form india form where should i buy the bitcoin and why should stop buyinf bitcoin from india its better to level up ur own county

At the moment it's still cheaper to buy via paypal from international exchanges.

[baristor]

Let me add something to the ongoing discussion:

Demand>>Supply

There is not a viable channel to buy bitcoins from existing international exchanges like bitstamp because wire transfer is cumbersome and a time taking process.

That's not the point how were they buying before and selling for 1-2k inr above preev rate ?

The point is people who are buying are overcharging for selling. One person would've started and everyone follows.

If we just stop buying from them they will have no choice but to reduce the prices.

Now due to the skyrocketing prices even new xchanges etc will look to add the same prices.

[yyuvane]

Enough guys... the more we feed these greedy sellers the more they will increase their prices...

If everyone stops buying btc from India they will be forced to revert to old prices.

Waiting for price to be as good as preev market place price then it's fine this is India not North Korea or Pakistan... even then I suspect those countries will be easier n cheaper to buy btc.

https://btc-e.com/



will give solutions for better rate else find a person who accepts paypal ,neteller or other payment options in localbitcoins who have good rating reputation among other dealers.

[baristor]

Enough guys... the more we feed these greedy sellers the more they will increase their prices...

If everyone stops buying btc from India they will be forced to revert to old prices.

Waiting for price to be as good as preev market place price then it's fine this is India not North Korea or Pakistan... even then I suspect those countries will be easier n cheaper to buy btc.

https://btc-e.com/



will give solutions for better rate else find a person who accepts paypal ,neteller or other payment options in localbitcoins who have good rating reputation among other dealers.

Yes but I am finding a solution which we can buy for market rate + 20$ 

Working on it soon.

Will keep you guys updated.

In the mean time dont feed the greed

[baristor]

Enough guys... the more we feed these greedy sellers the more they will increase their prices...

If everyone stops buying btc from India they will be forced to revert to old prices.

Waiting for price to be as good as preev market place price then it's fine this is India not North Korea or Pakistan... even then I suspect those countries will be easier n cheaper to buy btc.

Demand > Supply

It's not about greedy people making money, but bitcoin being cheap and available to all.

Thank you.

Dont buy No demand.

Lolz, it's not about sellers selling their bitcoins, it's about people who are willing to buy even at those prices because of demonetization, and as sellers do know that this is the only time to make money, do you really think that this will get back to its original prices so easily?

Anybody who buy's at that price is Either
1) A fool
2) Too much money to throw.


That's why I said no 1 should encourage them otherwise they will keep increasing it.

Btc is already rare in India,  If we buy from International exchanges now it's much cheaper..

I can even buy from em and sell for 55k inr and still make profit no reason for those greedy people to charge 20%.

Demonatization is just an excuse, Infact due to demonatization they should reduce prices so that demand will be high and more buyers will buy more btc regularly.

Instead they want to target the rich and ignorant people who never heard of btc by over charging.
Look at other countries ,

[Benson Samuel]

I had seen a similar pricing several years ago, when the norm used to be mtgox + 30%+.
It was not sustainable then, and it wont be sustainable now.

This current wave is being run, under the guide of demonetisation and is going to hit quite a few people by surprise when the price tanks.
We dropped KYC few days back for BTC deposits and withdrawals on Coinsecure and a majority of trades under that tier have matched or placed higher prices than what we were seeing. Not all of these users are Indian accounts, so it is not just India that is contributing to this wave.

Lot of Bitcoin users in India are freelancers, their job is to do stuff that they are good at. Imagine if another part of their job was to find an way to exchange their Bitcoin internationally. How much time will they lose on this?

There are big problems with purchasing Bitcoin from outside the country and should only be undertaken if the person really knows what they are doing and if they are willing to risk.

Add the costs of interchange, tax consultancy, regulatory filings and a bunch of questions that your bank WILL ask you and it becomes a bit tougher for anyone to exchange outside the country.

Mass adoption has come to India, at the cost of a premium, primarily because India was quite laid back when India was matching international prices, etc. We have seen huge premiums grow globally in any conflict/ controlled region and there is hardly anything that can be done until Bitcoin circulation increases in that region.

I personally do not condone the premiums as the creation of arbitrage funds Bitcoin by itself.
Coinsecure is a platform for users to set their desired prices and to win a match if there is willing counter party and surprisingly, even at these prices, people are willing to buy and sell. And yeah, our volumes and traffic have shot up like crazy and a majority of trades have been buy orders. Try anything to normalise the market and those trades will get completed immediately, so how does anyone reduce premium?

If there needs to be a drop in prices, someone has to flood the market with cheap Bitcoins. Now where do you find those?

[Joel_Jantsen]

--snipe--

lol ? You wouldn't miss a chance to promote coinsecure right ? Get off your comfy seats with high investors in your business,getting shit commercialized.For once,think about the community and decentralization.I'd die before using any Indian exchange systems.

[Benson Samuel]

--snipe--

lol ? You wouldn't miss a chance to promote coinsecure right ? Get off your comfy seats with high investors in your business,getting shit commercialized.For once,think about the community and decentralization.I'd die before using any Indian exchange systems.

No, because thats the only data I am sure about.
And do not make off topic posts with personal comments and thoughts.

[Joel_Jantsen]

--snipe--

lol ? You wouldn't miss a chance to promote coinsecure right ? Get off your comfy seats with high investors in your business,getting shit commercialized.For once,think about the community and decentralization.I'd die before using any Indian exchange systems.

No, because thats the only data I am sure about.
And do not make off topic posts with personal comments and thoughts.

We're talking about "buying bitcoins in India" [that's what the title says,if I comprehended it correctly].How my thoughts about coinsecure makes the post off-topic?If not for personal comments,whom should I post my opinions for ? As a moderator you surely understand what off topic posts are.(I assume).

[yyuvane]

Enough guys... the more we feed these greedy sellers the more they will increase their prices...

If everyone stops buying btc from India they will be forced to revert to old prices.

Waiting for price to be as good as preev market place price then it's fine this is India not North Korea or Pakistan... even then I suspect those countries will be easier n cheaper to buy btc.

https://btc-e.com/



will give solutions for better rate else find a person who accepts paypal ,neteller or other payment options in localbitcoins who have good rating reputation among other dealers.

https://app.xapo.com   provides you to fund with neteller accepts indian debit and credit cards,
while opening neteller account kindly use preffered currency as usd or euro.

[baristor]

--snipe--

lol ? You wouldn't miss a chance to promote coinsecure right ? Get off your comfy seats with high investors in your business,getting shit commercialized.For once,think about the community and decentralization.I'd die before using any Indian exchange systems.

^^ What she said,

As a currency exchange site Benson you should have the guts lead the investors to doin it the right way instead of fueling their greed. I guess you get good comissions too.

[Benson Samuel]

--snipe--

lol ? You wouldn't miss a chance to promote coinsecure right ? Get off your comfy seats with high investors in your business,getting shit commercialized.For once,think about the community and decentralization.I'd die before using any Indian exchange systems.

^^ What she said,

As a currency exchange site Benson you should have the guts lead the investors to doin it the right way instead of fueling their greed. I guess you get good comissions too.

I don't get commissions
Not sure how commissions can work on a realtime exchange.

Can you explain to me what does lead investors to doin it the right way means? Especially when we have 0 ways to control rates.

This screenshot shows a pretty good visual on who is setting prices in India.

http://imgur.com/SS8ZGWh

And you ladies think that I am evil -.-