India back in the game!

[LiteCoinGuy]

hi there,

the website doesnt work here (at least for me).

can you give me a short info what / who is "BAI" and "Mr. Nishith Desai"? some more details would be very nice to get a better impression.

Same here, I don't really understand, today is ok, yesterday was banned?
What's BAI and who is Mr Bishth Desai? Anybody from India can help?

BAI is a new alliance being founded by some traders in India. Nitish Desai is a world renowned lawyer and advocate who specializes in ecommerce. Well connected and should add some muscle to the movement.

thank you.

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[LiteCoinGuy]

Indian Bitcoin Exchange Unocoin Back Online After Shutdown

http://www.coindesk.com/indian-bitcoin-exchange-unocoin-back-online-shutdown/

[Bitcoinpro]

Good! BTC has huge potential in countries where millions of people don't have a bank account.

This is true however I would bet more people lacked internet access than had bank accounts?

wrong these devolving countries have high usage rates of mobile phones with internet access

and the merchant would probably offer free wifi for transactions

[empoweoqwj]

That is good news! It will take a while for India to massively adapt bitcoin though. But it is great news for the long run :-)

Any news where a country lays down regulation that accepts bitcoin is good. But you are right. It will take a while for real adoption in India. Never mind, we can wait

[undeadbitcoiner]

Its Good to hear about that. So finally India is Back.
Good Luck to India

Just don't expect a "China effect" in India. Long to medium term growth in India. But in bitcoin years, that's probably a year or so

India dont follow China
As my knowledge they are always against
China is loosing there tax and Chinese are paying tax to HK
in the mean time India DOnt want to loose Tax, Indian Government knows that its very easy to launder money from India so it will be better for them to ligalize and monitor if not Indian are very smart in Money Laundering so to Invest in Bitcoin Indian could Invest in HK, SG or wherever so I think Indian Government is taking good step to save there tax,

[BitCoinNutJob]

expect a large pump tomorrow after todays dip

[empoweoqwj]

expect a large pump tomorrow after todays dip

did you post in the right thread?

[BitCoinDream]

Typical Indian way of dealing with competition. First they got their rival arrested. And now they are officially launching their service. 

What do u mean ? UnoCoin founders are behind the ED raid on Mahin Gupta of BuySellBitco and Nilam Doctor of rbitco ?

[cryptozark]

Why do people think that the adoption rate will be slow in India?  The number of people with internet access is pretty high.

Excerpt from:
http://articles.timesofindia.indiatimes.com/2013-11-14/internet/44073307_1_internet-and-mobile-association-internet-penetration-rural-india

By October, the nation had crossed the 200 million mark, says a report released by the Internet and Mobile Association of India (IMAI) and IMRB. The report estimates 243 million internet users in the country by June 2014, overtaking the US as the world's second largest internet base after China.

The US currently has an estimated 207 million internet users, while China has 300 million. The 205 million internet users that the IMAI reports for India are not all active users (those who use the internet at least once a month). "There is every reason to believe that they will turn into active users in the near future," says Nilotpal Chakravarti, associate vice-president, IAMAI.

[empoweoqwj]

Why do people think that the adoption rate will be slow in India?  The number of people with internet access is pretty high.

Excerpt from:
http://articles.timesofindia.indiatimes.com/2013-11-14/internet/44073307_1_internet-and-mobile-association-internet-penetration-rural-india

By October, the nation had crossed the 200 million mark, says a report released by the Internet and Mobile Association of India (IMAI) and IMRB. The report estimates 243 million internet users in the country by June 2014, overtaking the US as the world's second largest internet base after China.

The US currently has an estimated 207 million internet users, while China has 300 million. The 205 million internet users that the IMAI reports for India are not all active users (those who use the internet at least once a month). "There is every reason to believe that they will turn into active users in the near future," says Nilotpal Chakravarti, associate vice-president, IAMAI.

Because adoption rate of bitcoin is not a function of Internet access

[undeadbitcoiner]

Why do people think that the adoption rate will be slow in India?  The number of people with internet access is pretty high.

Excerpt from:
http://articles.timesofindia.indiatimes.com/2013-11-14/internet/44073307_1_internet-and-mobile-association-internet-penetration-rural-india

By October, the nation had crossed the 200 million mark, says a report released by the Internet and Mobile Association of India (IMAI) and IMRB. The report estimates 243 million internet users in the country by June 2014, overtaking the US as the world's second largest internet base after China.

The US currently has an estimated 207 million internet users, while China has 300 million. The 205 million internet users that the IMAI reports for India are not all active users (those who use the internet at least once a month). "There is every reason to believe that they will turn into active users in the near future," says Nilotpal Chakravarti, associate vice-president, IAMAI.

[The report estimates 243 million internet users in the country by June 2014, overtaking the US as the world's second largest internet base after China. The US currently has an estimated 207 million internet users] so can we Define in % please? None of the country is going to overtake US in Internet and Tech world users.

[empoweoqwj]

Also, India doesn't even make the top 30 list here:

http://en.wikipedia.org/wiki/List_of_countries_by_per_capita_personal_income

That may change in the future for sure, but as of today, the vast majority of the Indian population is very very poor.