Forget China, India will be next

[_smudger_]

http://www.coindesk.com/indias-first-fully-open-bitcoin-exchange-launched/

[blatchcorn]

Perfect timing for a rally

[doof]

Yep

[dreamspark]

The Chinese government are only trying to protect their own currency (fair enough with the state of the $) but they're going to regret trying to completely stop any real BTC development there.

India is a booming economy and can easily spark the next bull run.

[cr1776]

The Chinese government are only trying to protect their own currency (fair enough with the state of the $) but they're going to regret trying to completely stop any real BTC development there.

India is a booming economy and can easily spark the next bull run.

By protecting their currency they are trying protect their power - the power of the rulers.  You are right about both India and China.

[BitCoinDream]

http://www.coindesk.com/indias-first-fully-open-bitcoin-exchange-launched/

Do they accept non-inr payment from overseas account ? AFAIK NO. To actually compete with BTC China or Huobi volume... first Indian regulators need to open up foreign money to come in and go out at ease ...which is till date impossible. Even PayPal has got crippled in India. 2 Indian cant exchange money within India using PayPal. So, unless regulation changes, u cant accept any Indian exchange to compete China volume LEGALLY !!!

...But well. A really good move and hope it'll open up many doors in future ...In India, Bitcoin is still in its infancy

[Lauda]

http://www.coindesk.com/indias-first-fully-open-bitcoin-exchange-launched/

Well this will take time, for adoption. If you look at the exchange right now, there are only a few trades going from time to time.

[bryant.coleman]

The Indian economy is only around 1/10th of the size of the Chinese one. So an Indian boom won't be doing any wonders to the Bitcoin sector, as the Chinese boom did earlier. Also, India is plagued by decades of corruption, red-tape and cronyism. That will make setting up Bitcoin exchanges and other services extremely risky there.

[1Referee]

Let's hope India will not follow China with banning everything related to bitcoin.

But India has so many people that are working for a salary that is $300 a year. Why would they care about bitcoin when their first and probably only priority is survining.

[BitCoinDream]

Let's hope India will not follow China with banning everything related to bitcoin.

But India has so many people that are working for a salary that is $300 a year. Why would they care about bitcoin when their first and probably only priority is survining.

300 USD a year people wont use internet, from whichever part of the world they are. So, u cant expect them to be using bitcoin.

[Light]

Another competing exchange is always good to see - competition drives up innovation and value for consumers. I have my doubts though as to whether this will really have much of an impact on Bitcoin overall - India at the moment is certainly no where near the level of China in terms of economy scales and the population there isn't exactly suited to an online cryptocurrency yet.

[minorkacologne]

China had only 7% of btc volume.

It wasn't as big as most people were panicking about.

India for sure is the most natural market for any cryptocurrency.

[dreamspark]

Let's hope India will not follow China with banning everything related to bitcoin.

But India has so many people that are working for a salary that is $300 a year. Why would they care about bitcoin when their first and probably only priority is survining.

Indias GDP is 1.842 trillion USD (2012). The wealth distribution is also terrible, yes there are plenty of poor civilians but a gdp in the top 10 should answer your question. In the same way that there are homeless people and people living on the breadline in western countries who would not be interested in BTC as their main priority is to survive.

Funny thing as well is Bitcoin can actually help the homeless and less well off http://www.wired.com/2013/09/bitcoin-homeless/

Faucets and the sig campaigns on here are like a months wages to some people throughout the world.

[gentlemand]

An Indian market would be strangled by their government before it got going in any meaningful way. They have capital controls in place and restrictions on gold importation.

[bryant.coleman]

An Indian market would be strangled by their government before it got going in any meaningful way. They have capital controls in place and restrictions on gold importation.

lol.. already the Enforcement Directorate and other central government agencies have raided multiple Bitcoin businesses in India, despite some of those businesses having valid licenses. Anyway, the Indians are having a change of government tomorrow, so let's hope that the new government will be less hostile to the crypto when compared to the previous / current ones.

[Nathan101]

Indian is a big market. So i think it is the best time to Launched  in India. I want to know is Bitcoin legal is India?

[ChuckBuck]

I've been trying to forget about China, but China can't seem to forget about Bitcoin.   

Just when you think they're out, they pull us all back in.

[Nathan101]

Indian is a big market. So i think it is the best time to Launched  in India. I want to know is Bitcoin legal in India?

[BitCoinDream]

Indian is a big market. So i think it is the best time to Launched  in India. I want to know is Bitcoin legal is India?

Why are u posting the same thing again and again ? Yes, Bitcoin is absolutely legal in India. Using it for illegal purposes is illegal, just like cash.

[Ron~Popeil]

I have been to India. The caste system would never allow bit coin to thrive. The mere thought of the lower classes having wealth not controlled by the upper echelon would be unpalatable.