Nice to see the discussion about bitcoin in my native country.
Yes, gold and stock market is a common form of investment in India.
I have known bitcoin now for more than a year.
I am an expat and sending inward remittance to India every month.
There is a transaction fees of 15 AED (~4 USD), and the money is credited in 24 hours or less.
So for me, I dont think currently remittance in the form of bitcoin is feasible.
Just my thoughts.
Yes, gold and stock market is a common form of investment in India.
I have known bitcoin now for more than a year.
I am an expat and sending inward remittance to India every month.
There is a transaction fees of 15 AED (~4 USD), and the money is credited in 24 hours or less.
So for me, I dont think currently remittance in the form of bitcoin is feasible.
Just my thoughts.
Unless indians themselves start to see bitcoin as an investment option. You just need one investor, willing to buy with cash at market rate, in one city, to have functioning remittance with 1% fee. I think there might be people who are willing to invest like this, since it is nices to buy bitcoins with cash, than with bank transfer.
Perfect utility for this is of course my newly launched service localbitcoins.com
