Quote from: Wind_FURY on December 09, 2016, 03:03:14 AM

Quote from: geofflosophy on December 08, 2016, 03:05:51 AM

Quote from: Wind_FURY on December 08, 2016, 02:56:34 AM

Quote from: geofflosophy on December 07, 2016, 11:33:23 PM

Quote from: Wind_FURY on December 07, 2016, 02:20:29 AM

I do not get why most of you think that Bitcoin will sky rocket because of the situation in India. There are some hurdles to overcome over there before they can buy Bitcoins. Do not forget that it is a third world country where most are not connected to the internet nor do they have access. Also most of the people there are poor and if they have savings, Bitcoin would be the last in their priorities.

Because bitcoin is trading at a huge premium in India.

At what exchange is it trading and at what volumes are we speaking about? If it is at Local Bitcoins, I would argue that all of the Bitcoins traded there are priced at a premium and that the volume there is not really that high compared to the exchanges like BTCe or Bitstamp. Chinese exchanges are also trading slightly higher than most because the Chinese traders are pumping the price. It does not necessarily mean that the ordinary people are buying Bitcoins with their savings.

All exchanges in India. For example price right now on Unocoin is 57394 which is about $850 USD ($90 higher). It was over 20% premium just a couple of weeks ago.

Unocoin is a new exchange , am I right? Getting premium prices usually happens when the volumes are fairly low. An example of this is the trading that is going on at Local Bitcoins. That is very understandable and it does not really say anything about the current situation of Bitcoin in India except that it is new and that market will become efficient sooner or later.

Really curious how India are only having such low volume of bitcoin while it could available easily if the exchangers just going to buy from anywhere around the world. it's not as hard as sending stuff through Fedex which could take few days. maybe the exchangers itself having a play on it to gain some additional profit out of this circumstance, who knows?