India 4th most likely country to adopt bitcoin

[polynesia]

http://www.coindesk.com/argentina-most-likely-adopt-bitcoin/

India finds itself in elite company - Argentina, Venezuela, Zimbabwe 

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[Benson Samuel]

http://www.coindesk.com/argentina-most-likely-adopt-bitcoin/

India finds itself in elite company - Argentina, Venezuela, Zimbabwe 

[polynesia]

The size of the informal ("black") economy is one of the factors that they used. China's ranking came down because of this.
My guess is India scored big on this parameter. 

[TrailingComet]

Yep, but the report may be a touch overly optimistic about India
The younger tech savvy folks will over time embrace btc, provided the RBI stays constructive
Not sure about the old economy types though

[xbit.in]

Still i cant believe india could be on 4th.
May be using for investment purpose or buying illegal stuff but not using for shopping.

[polynesia]

Still i cant believe india could be on 4th.
May be using for investment purpose or buying illegal stuff but not using for shopping.

You should look at the parameters used...
- Inflation: Definitely high in India, thanks to the UPA
- Black Money: Again you know, whom to thank for that
- Remittances: Kerala-Dubai connection.
- Financial Repression: Well, Rajan is reducing the SLR, but I guess repression is high.
- Technology Penetration: I guess we score low in smartphone penetration
- Financial Crises: None recently, thankfully.

[adv.kanishk]

Lol....the sound of the caption got me amazed.....n the reason for the ranking made it obvious!!!!

[ravin]

So if at all BTC becomes mainstream in India, what will it be attributed to? corruption?

[Equate]

So if at all BTC becomes mainstream in India, what will it be attributed to? corruption?

BTC can become mainstream in India with all the online shopping boom going on,  but no store will jump on the  bandwagon unless RBI gives some clear guidelines.

[rohnearner]

So if at all BTC becomes mainstream in India, what will it be attributed to? corruption?

Depends.. but I don't think so that using bitcoin to take bribe is a good Idea, and when we talk about corruption in India , you know we are talking about Billions or $$ , politicians are not stupid when it comes to corruption nd I'm sure they don't want to get listed in public taking thousands or maybe more of btc's. on the other hand I don't think they are smart enough to not to leave any footprints behind of transaction.

[ravin]

So if at all BTC becomes mainstream in India, what will it be attributed to? corruption?

BTC can become mainstream in India with all the online shopping boom going on,  but no store will jump on the  bandwagon unless RBI gives some clear guidelines.

Won't that be more true if payment processors start accepting BTC - in the likes of payu, CCAvenues, Billdesk & Payzippy?

[rohnearner]

So if at all BTC becomes mainstream in India, what will it be attributed to? corruption?

BTC can become mainstream in India with all the online shopping boom going on,  but no store will jump on the  bandwagon unless RBI gives some clear guidelines.

Won't that be more true if payment processors start accepting BTC - in the likes of payu, CCAvenues, Billdesk & Payzippy?

The same " RBI's ambiguous stand " problem with them too.. Ones RBI sets some guidelines you can expect it everywhere , but until than I doubt thats its gonna happen. 
 Anyone has any update on RBI's stand, or we are still at same position , I can expect that keeping in mind the speed at which government authorities takes decisions in India .

[ravin]

So if at all BTC becomes mainstream in India, what will it be attributed to? corruption?

BTC can become mainstream in India with all the online shopping boom going on,  but no store will jump on the  bandwagon unless RBI gives some clear guidelines.

Won't that be more true if payment processors start accepting BTC - in the likes of payu, CCAvenues, Billdesk & Payzippy?

The same " RBI's ambiguous stand " problem with them too.. Ones RBI sets some guidelines you can expect it everywhere , but until than I doubt thats its gonna happen.  
 Anyone has any update on RBI's stand, or we are still at same position , I can expect that keeping in mind the speed at which government authorities takes decisions in India .

I am not sure if RBI will ever take a pro-bitcoin stand because the moment they do that, it's gonna get complicated for them. Look at how exchanges like unocoin, igot (managed even if not indian) operating. If they are legal, I don't know how CC Avenue allowing BTC payments cannot be.

[polynesia]

So if at all BTC becomes mainstream in India, what will it be attributed to? corruption?

Depends.. but I don't think so that using bitcoin to take bribe is a good Idea, and when we talk about corruption in India , you know we are talking about Billions or $$ , politicians are not stupid when it comes to corruption nd I'm sure they don't want to get listed in public taking thousands or maybe more of btc's. on the other hand I don't think they are smart enough to not to leave any footprints behind of transaction.

They definitely would diversify. If they can be sophisticated enough to use off-shore banking havens like Switzerland, using bitcoins would be no different.
But I see Arvind Kejriwal publishing a list of addresses and claiming that they belong to Congress/BJP politicians. 

[rohnearner]

They definitely would diversify. If they can be sophisticated enough to use off-shore banking havens like Switzerland, using bitcoins would be no different.
But I see Arvind Kejriwal publishing a list of addresses and claiming that they belong to Congress/BJP politicians.  

Haha AK really making it tough for politicians.  that's the point if he does that unlike the situation now where he keeps shouting the swiss  account numbers of likes of Ambani's but can't prove they are real  and are holding any money , he'll be able to back his claims.
 
 The situation now is you got the account numbers but both bjp/congress don't wanna share them with public for some obvious reasons. that won't be possible with btc.

[polynesia]

They definitely would diversify. If they can be sophisticated enough to use off-shore banking havens like Switzerland, using bitcoins would be no different.
But I see Arvind Kejriwal publishing a list of addresses and claiming that they belong to Congress/BJP politicians.  

Haha AK really making it tough for politicians.  that's the point if he does that unlike the situation now where he keeps shouting the swiss  account numbers of likes of Ambani's but can't prove they are real  and are holding any money , he'll be able to back his claims.
 
 The situation now is you got the account numbers but both bjp/congress don't wanna share them with public for some obvious reasons. that won't be possible with btc.

Knowing Kejriwal, he would probably pick up Satoshi / Silk Road's bitcoin address and claim they belong to Sonia Gandhi/Narendra Modi. 

[Equate]

They definitely would diversify. If they can be sophisticated enough to use off-shore banking havens like Switzerland, using bitcoins would be no different.
But I see Arvind Kejriwal publishing a list of addresses and claiming that they belong to Congress/BJP politicians. 

Haha AK really making it tough for politicians.  that's the point if he does that unlike the situation now where he keeps shouting the swiss  account numbers of likes of Ambani's but can't prove they are real  and are holding any money , he'll be able to back his claims.
 
 The situation now is you got the account numbers but both bjp/congress don't wanna share them with public for some obvious reasons. that won't be possible with btc.

Knowing Kejriwal, he would probably pick up Satoshi / Silk Road's bitcoin address and claim they belong to Sonia Gandhi/Narendra Modi. 

May be but now its difficult for him to fool the public after his delhi debacle.

[rohnearner]

They definitely would diversify. If they can be sophisticated enough to use off-shore banking havens like Switzerland, using bitcoins would be no different.
But I see Arvind Kejriwal publishing a list of addresses and claiming that they belong to Congress/BJP politicians. 

Haha AK really making it tough for politicians.  that's the point if he does that unlike the situation now where he keeps shouting the swiss  account numbers of likes of Ambani's but can't prove they are real  and are holding any money , he'll be able to back his claims.
 
 The situation now is you got the account numbers but both bjp/congress don't wanna share them with public for some obvious reasons. that won't be possible with btc.

Knowing Kejriwal, he would probably pick up Satoshi / Silk Road's bitcoin address and claim they belong to Sonia Gandhi/Narendra Modi. 

May be but now its difficult for him to fool the public after his delhi debacle.

So sad people think he's the one who's fooling public and not the one he points to likes of Sheila Dixit, Nitin Gadhkari, Reliance , and many more , when he talks people asks about evidence when he provides they call it " Drama "  ,
 They want to get rid of corruption and all and when someone tries to make an effort they just make fun of them.

[Equate]

They definitely would diversify. If they can be sophisticated enough to use off-shore banking havens like Switzerland, using bitcoins would be no different.
But I see Arvind Kejriwal publishing a list of addresses and claiming that they belong to Congress/BJP politicians. 

Haha AK really making it tough for politicians.  that's the point if he does that unlike the situation now where he keeps shouting the swiss  account numbers of likes of Ambani's but can't prove they are real  and are holding any money , he'll be able to back his claims.
 
 The situation now is you got the account numbers but both bjp/congress don't wanna share them with public for some obvious reasons. that won't be possible with btc.

Knowing Kejriwal, he would probably pick up Satoshi / Silk Road's bitcoin address and claim they belong to Sonia Gandhi/Narendra Modi. 

May be but now its difficult for him to fool the public after his delhi debacle.

So sad people think he's the one who's fooling public and not the one he points to likes of Sheila Dixit, Nitin Gadhkari, Reliance , and many more , when he talks people asks about evidence when he provides they call it " Drama "  ,
 They want to get rid of corruption and all and when someone tries to make an effort they just make fun of them.

I have been supporting AK like many people out there and if he would have stayed as CM , he could have set benchmark for administration but everybody knows how things turned out after his resignation. He has been honest but politics got better of him.

[rohnearner]

I have been supporting AK like many people out there and if he would have stayed as CM , he could have set benchmark for administration but everybody knows how things turned out after his resignation. He has been honest but politics got better of him.

I do believe that he has delivered many things in 49 days gov that other government fails to deliver in 5 years + just think if he could have got the majority of 36 , than I'm sure he could have done things a lot different , the way congress was playing games it was always clear that this government will not last long, but anyways I do believe that Indian media is sold out, what more to prove Reliance just bought Network 18 , and they surely don't want to loose control over Politics as they know they can easily manipulate bjp/congress led governments which they are doing.