India is officialy out of Bitcoin for the foreseeable future

[GigaCoin]

I know people are sick and tired of hearing about India, but it seems India won't be getting into Bitcoin anytime soon:
, since the RBI now says they refuse to regulate bitcoin and won't allow exchanges to operate or obtain license:

http://www.coindesk.com/the-reserve-bank-of-india-regulate-bitcoin/

So we might have to forget about pricing India in 2014 into bitcoin's value

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[chesthing]

Well that makes 1/3 of the world's pop out for now at least. Whoever is buying $800 btc right now is nuckin futs.

[phoenix1]

I know people are sick and tired of hearing about India, but it seems India won't be getting into Bitcoin anytime soon:
, since the RBI now says they refuse to regulate bitcoin and won't allow exchanges to operate or obtain license:

http://www.coindesk.com/the-reserve-bank-of-india-regulate-bitcoin/

So we might have to forget about pricing in India in 2014 into bitcoin's value

Anyone with any common sense already did that

[mmitech]

anyone thought that India is a big player was just wrong really, why I am not surprised by that ? well the Indian government doesn't really have the infrastructure to regulate Bitcoin, last thing we want at this stage is Bitcoin associated with a terrorist act, than you really know what uncle Sam will think about that.


although I know that the regulation thing is a bit harsh, because people in India mostly need Bitcoin read here  http://www.siliconindia.com/finance/news/50-Percent-of-Indians-Dont-Have-a-Simple-Savings-Bank-Account--nid-149759.html


it doesn't make sense but there is allot of things needs to be figured out, at this point Bitcoin still have a long way to go...

[phoenix1]

Far from India being out of the game, every wealthy Indian is now examining Bitcoin and considering its utility in their wealth preservation plans.

LOL
The FUD is strong in this one

[goxed]

Far from India being out of the game, every wealthy Indian is now examining Bitcoin and considering its utility in their wealth preservation plans.

LOL
The FUD is strong in this one

seriously
http://en.wikipedia.org/wiki/Indian_black_money

[Wilhelm]

About India I don't understand the problem.

Let's say I'm an indian and want into bitcoin.
What's stopping me from putting money into an exchange using an overseas money order or paypal or whatever?
What can the Indian government do to stop me?

I can understand that using bitcoin in everyday life won't be possible but as an investment it could be viable.

Just my 2 cents...

[mmitech]

About India I don't understand the problem.

Let's say I'm an indian and want into bitcoin.
What's stopping me from putting money into an exchange using an overseas money order or paypal or whatever?
What can the Indian government do to stop me?

I can understand that using bitcoin in everyday life won't be possible but as an investment it could be viable.

Just my 2 cents...

Ok let me make it simpler to you.... you are not an Indian and stop pretending being one ahahahahaha, I am just kidding  

[nastybit]

About India I don't understand the problem.

Let's say I'm an indian and want into bitcoin.
What's stopping me from putting money into an exchange using an overseas money order or paypal or whatever?
What can the Indian government do to stop me?

I can understand that using bitcoin in everyday life won't be possible but as an investment it could be viable.

Just my 2 cents...

I guess it is the easiest way to discourage average people and limit public interest on this new devil technology. It's called "Prohibitionism" (http://en.wikipedia.org/wiki/Prohibitionism)
Rich will find a way to use it they really want, the rest will ignore it

[undeadbitcoiner]

India was Never in Bitcoin market, India is just a starter so there is nothing to discuss in Indias topic
There are a Lot of Indian they want to Mine and invest in Bitcoin thats fine they can either invest in Singapore, Japan, Hongkong, China and elsewhere
Bitcoiners no need to worry about investing the time is to worry is for Indian Government
Question is they want to get profit from Bitcoin or they just want to fuck themself?
Shit news of India and Indian Government is going to do Nothing in Bitcoin.
India is officialy out of Bitcoin (Lets Hope Temporal)

[phoenix1]

Far from India being out of the game, every wealthy Indian is now examining Bitcoin and considering its utility in their wealth preservation plans.

LOL
The FUD is strong in this one

seriously
http://en.wikipedia.org/wiki/Indian_black_money

This reminds me of the desperate posts about how much BTC would have appreciated if Gaddafi had converted his Black Money to BTC
If this is what you want BTC to be, price fueled by ill-gotten gains, stolen from the people, good for you ... ride on their backs and wave the flag for them
I thought BTC was about more than that ...
Perhaps I was wrong 

[Salivan]

I see that people here have really hard times to understand that
third world its what  it  is with the reason
Be serious people what you expected endorsement ?

[Lloydie]

Countries with currency controls will always be hostile to Bitcoin.

Far from India being out of the game, every wealthy Indian is now examining Bitcoin and considering its utility in their wealth preservation plans.

If there are 21 million rich people in this world and they all want just 1 Btc each, they won't be able to buy 1 Btc each. Once a "tipping point" is reached, btcs value will more likely than not skyrocket, IMHO.

According to Wikipedia there are around 10 million millionaires in the world.

[phoenix1]

Countries with currency controls will always be hostile to Bitcoin.

Far from India being out of the game, every wealthy Indian is now examining Bitcoin and considering its utility in their wealth preservation plans.

If there are 21 million rich people in this world and they all want just 1 Btc each, they won't be able to buy 1 Btc each. Once a "tipping point" is reached, btcs value will more likely than not skyrocket, IMHO.

According to Wikipedia there are around 10 million millionaires in the world.

just keep HOPLING

[Lloydie]

Countries with currency controls will always be hostile to Bitcoin.

Far from India being out of the game, every wealthy Indian is now examining Bitcoin and considering its utility in their wealth preservation plans.

If there are 21 million rich people in this world and they all want just 1 Btc each, they won't be able to buy 1 Btc each. Once a "tipping point" is reached, btcs value will more likely than not skyrocket, IMHO.

According to Wikipedia there are around 10 million millionaires in the world.

just keep HOPLING

Name me one other payments system where I can transfer funds between borders without the "assistance" of banks.

Once they understand it, rich people will love bitcoins, don't worry about that.

[phoenix1]

Countries with currency controls will always be hostile to Bitcoin.

Far from India being out of the game, every wealthy Indian is now examining Bitcoin and considering its utility in their wealth preservation plans.

If there are 21 million rich people in this world and they all want just 1 Btc each, they won't be able to buy 1 Btc each. Once a "tipping point" is reached, btcs value will more likely than not skyrocket, IMHO.

According to Wikipedia there are around 10 million millionaires in the world.

just keep HOPLING

Name me one other payments system where I can transfer funds between borders without the "assistance" of banks.

Once they understand it, rich people will love bitcoins, don't worry about that.

Name me one way of getting fiat into BTC without paying the ferryman his dues ...

[Ibian]

Countries with currency controls will always be hostile to Bitcoin.

Far from India being out of the game, every wealthy Indian is now examining Bitcoin and considering its utility in their wealth preservation plans.

If there are 21 million rich people in this world and they all want just 1 Btc each, they won't be able to buy 1 Btc each. Once a "tipping point" is reached, btcs value will more likely than not skyrocket, IMHO.

According to Wikipedia there are around 10 million millionaires in the world.

just keep HOPLING

Name me one other payments system where I can transfer funds between borders without the "assistance" of banks.

Once they understand it, rich people will love bitcoins, don't worry about that.

Name me one way of getting fiat into BTC without paying the ferryman his dues ...

Localbitcoins.

What's your agenda anyway?

[arepo]

Countries with currency controls will always be hostile to Bitcoin.

Far from India being out of the game, every wealthy Indian is now examining Bitcoin and considering its utility in their wealth preservation plans.

If there are 21 million rich people in this world and they all want just 1 Btc each, they won't be able to buy 1 Btc each. Once a "tipping point" is reached, btcs value will more likely than not skyrocket, IMHO.

According to Wikipedia there are around 10 million millionaires in the world.

just keep HOPLING

Name me one other payments system where I can transfer funds between borders without the "assistance" of banks.

Once they understand it, rich people will love bitcoins, don't worry about that.

Name me one way of getting fiat into BTC without paying the ferryman his dues ...

purchase btc face-to-face from your neighbor with cash money in one hand and a smartphone in the other.

[phoenix1]

Countries with currency controls will always be hostile to Bitcoin.

Far from India being out of the game, every wealthy Indian is now examining Bitcoin and considering its utility in their wealth preservation plans.

If there are 21 million rich people in this world and they all want just 1 Btc each, they won't be able to buy 1 Btc each. Once a "tipping point" is reached, btcs value will more likely than not skyrocket, IMHO.

According to Wikipedia there are around 10 million millionaires in the world.

just keep HOPLING

Name me one other payments system where I can transfer funds between borders without the "assistance" of banks.

Once they understand it, rich people will love bitcoins, don't worry about that.

Name me one way of getting fiat into BTC without paying the ferryman his dues ...

purchase btc face-to-face from your neighbor with cash money in one hand and a smartphone in the other.

Indeed ... though smartphone reception may be a problem
I am sure this is happening right across India as we speak ...
Way to go Bitcoin, that's what I call progress !

Then you have the problem of exchanging your pocket stuffed full of smelly rupees (believe me, they smell) into something you want ...

[Lloydie]

I love the ignore button. Ferryman is still cheaper than banks, in my view. Plus, if I already have loads of fiat, I won't even bother converting back to fiat.