Forget China, India will be next

[Davis14]

Am I sensing a new bubble for btc?

[hellscabane]

Am I sensing a new bubble for btc?

Yes, a very, very, very tiny bubble. But hey, a bubble's a bubble right?

[Malin Keshar]

There's nearly zero adoption in India, no nodes, no miners, no exchange, no infrastructure, nothing. I don't see it changing any time soon.

That means a huge market still unexplored. As far as I know there are lots of people with lots of money, and they are very strong in the IT industry, so for me it is like a room full of natural gas, just waiting to a spark to blow up

[beetcoin]

There's nearly zero adoption in India, no nodes, no miners, no exchange, no infrastructure, nothing. I don't see it changing any time soon.

That means a huge market still unexplored. As far as I know there are lots of people with lots of money, and they are very strong in the IT industry, so for me it is like a room full of natural gas, just waiting to a spark to blow up

seems to me that india has less of a financial or entrepreneurial spirit than a country like china though. i don't think it'll grow seemingly overnight like it did in china.. but who knows, maybe i'm wrong.

[hellscabane]

There's nearly zero adoption in India, no nodes, no miners, no exchange, no infrastructure, nothing. I don't see it changing any time soon.

That means a huge market still unexplored. As far as I know there are lots of people with lots of money, and they are very strong in the IT industry, so for me it is like a room full of natural gas, just waiting to a spark to blow up

seems to me that india has less of a financial or entrepreneurial spirit than a country like china though. i don't think it'll grow seemingly overnight like it did in china.. but who knows, maybe i'm wrong.

I mostly agree with this sentiment. Historically growth in India has been slower because of the social systems and the constant status quo of disparity. So it'll be hard to gain lasting penetration.

However, this disparity has burgeoned a small group of people who are quite financially adept (i.e. the people who run the major in-house IT companies, and there are a few of them). So there is definitely a market that can be tapped into.

[Eotnak]

There's nearly zero adoption in India, no nodes, no miners, no exchange, no infrastructure, nothing. I don't see it changing any time soon.

That means a huge market still unexplored. As far as I know there are lots of people with lots of money, and they are very strong in the IT industry, so for me it is like a room full of natural gas, just waiting to a spark to blow up

A room full of natural gas needs more than a spark to blow up...it needs oxygen.
Just like a country needs more than a lot of people for bitcoin to blow up there.

[saif92]

There's nearly zero adoption in India, no nodes, no miners, no exchange, no infrastructure, nothing. I don't see it changing any time soon.

That means a huge market still unexplored. As far as I know there are lots of people with lots of money, and they are very strong in the IT industry, so for me it is like a room full of natural gas, just waiting to a spark to blow up

A room full of natural gas needs more than a spark to blow up...it needs oxygen.
Just like a country needs more than a lot of people for bitcoin to blow up there.

I don't think Indian economy have any impact on bitcoin because central agencies already raided exchanges and Central government not allowing exchanges to work openly

[beetcoin]

hasn't india really been reclusive.. and they like to block a lot of "foreign" things. i remember they didn't even like coca cola into the country. seems like, historically, their government is fractured and i guess you could say xenophobic.

[leopard2]

LOL to the bears

India is the world's No. 1 gold buyer, and despite government efforts it is also No1. gold smuggling nation

They will love the digital alternative... 

[wachtwoord]

Does anyone have an opinion about the election outcome?

[edwardspitz]

I am from India...the story that India will be the next for bitcoin is as aspiring as each if  bitcoin reaching 100000$.

So take some grains of salt, actually lot of salt..

Does the site seem legit to you? I have serious doubts about it...

[R2Pleasent]

India does not have the infrastructure to make anywhere near the impact of China.  Furthermore, India's government already took a strong stance against Bitcoin.  Just because it has a high population and an exchange does not mean it's going to take 50% market share overnight.

[Elwar]

Does anyone have an opinion about the election outcome?

They are saying there is a huge turnaround from the elections. A very business friendly government was elected, their markets soared after the election.

The Bitcoin exchanges in India need to get the ear of key people in power to open things up.

[bryant.coleman]

There's nearly zero adoption in India, no nodes, no miners, no exchange, no infrastructure, nothing. I don't see it changing any time soon.

Not true. Have you ever checked the India sub-section of the Bitcointalk?

https://bitcointalk.org/index.php?board=89.0

It is one of the most active subsections in the Local section.

[goxed]

Looks like a new government just got elected in India. Apparently the leader Mr. Modi is business and tech friendly. Could be a bullish signal.

[Pepin]

India is plagued by decades of corruption, red-tape and cronyism.

Corruption, red-tape, and cronyism didn't stop Chinese exchanges from being set up, so I wouldn't think that it would stop Indian ones either.

[bryant.coleman]

Corruption, red-tape, and cronyism didn't stop Chinese exchanges from being set up, so I wouldn't think that it would stop Indian ones either.

I have been to India multiple times. And trust me, India is extremely hostile to business ventures, when compared to the business-friendly China. Sure, corruption do exist in China, but the magnitude of the problem is much lower when compared to that in India.

[bitcoin4eva]

Hopefully we will see a rise in the price of bitcoin!

[DustyRah]

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. 

That's an untrue statement. India is an extraordinarily complex country with so many types of people living and it is not controlled by one type of people. The upper class does not mean wealthy in Indian caste system AFAIK. They have some weird religion based caste system.

I don't think Bitcoin will go main stream there simply because most people are not that tech savvy as Chinese and still rely on cash to do trade at low level. The government has incredibly tight capital controls and banks are also tightly regulated.

Any type of Bitcoin craze in India would be very good news for BTC.

[Wilhelm]

Looks like a new government just got elected in India. Apparently the leader Mr. Modi is business and tech friendly. Could be a bullish signal.

India still is a prohibitism and have banned bitcoin by default in the last India bubble.
If the new government becomes anything modernish like a democratic or republic it will be bullish.
Until that happens don't think that India will ever enter bitcoin unless their government approves bitcoin and explicitly allows it.