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Wasn't China a huge market for cryptocurrencies for most of the last 2 waves? My Indian coworkers indicate it's big back home too. So now with the west, india,

by Macha 4y ago

Wasn't China a huge market for cryptocurrencies for most of the last 2 waves? My Indian coworkers indicate it's big back home too. So now with the west, india, and china, we're at 50% of the world.

dubswithus 4y ago
Your argument is that bitcoin has no growth potential in India? They have 1.3 billion people.
- Macha 4y ago
  To the extent it has grown previously? Why would the factors above in dragontamer's post not apply there as much as the west? e.g. it's not like Indian celebrities haven't been hyping crypto like western celebrities: https://www.ndtv.com/business/bollywood-stars-endorse-cryptocurrency-do-they-trade-in-it-2610185 https://www.ndtv.com/business/bollywood-stars-endorse-crypto... "The West" has about a billion population also (370m USA+CA, 600m Europe minus Russia, 30m AUS/NZ). That's not inherently a reason for crypto have potential for another boom cycle here, nor is it inherently the same in India.
  - dubswithus 4y ago
    These comments assume that 1.3 billion people have made a decision on Bitcoin and they will hold this position until death. It also assumes the people that have invested already won't invest more as their careers progress.
sgt101 4y ago
Add in South Africa and Nigeria. Massive there, massive. There will be real pain as a result, a lot of kids are going to miss out on new shoes and birthday presents for quite a few years. Mention of crypto will likely precipitate a family fight - I do not see a way back from this.
- everybodyknows 4y ago
  Not at all to doubt this -- can you point to any quantitative reporting?
  - sgt101 4y ago
    https://news.bitcoin.com/study-7-6-million-south-africans-are-crypto-investors-social-media-main-source-of-crypto-related-information/ https://news.bitcoin.com/study-7-6-million-south-africans-ar... https://www.theguardian.com/technology/2021/jul/31/out-of-control-and-rising-why-bitcoin-has-nigerias-government-in-a-panic https://www.theguardian.com/technology/2021/jul/31/out-of-co...

by Macha 4y ago

Wasn't China a huge market for cryptocurrencies for most of the last 2 waves? My Indian coworkers indicate it's big back home too. So now with the west, india, and china, we're at 50% of the world.

dubswithus 4y ago

Your argument is that bitcoin has no growth potential in India? They have 1.3 billion people.

Macha 4y ago
To the extent it has grown previously? Why would the factors above in dragontamer's post not apply there as much as the west? e.g. it's not like Indian celebrities haven't been hyping crypto like western celebrities: https://www.ndtv.com/business/bollywood-stars-endorse-cryptocurrency-do-they-trade-in-it-2610185 https://www.ndtv.com/business/bollywood-stars-endorse-crypto... "The West" has about a billion population also (370m USA+CA, 600m Europe minus Russia, 30m AUS/NZ). That's not inherently a reason for crypto have potential for another boom cycle here, nor is it inherently the same in India.
- dubswithus 4y ago
  These comments assume that 1.3 billion people have made a decision on Bitcoin and they will hold this position until death. It also assumes the people that have invested already won't invest more as their careers progress.

sgt101 4y ago

Add in South Africa and Nigeria. Massive there, massive. There will be real pain as a result, a lot of kids are going to miss out on new shoes and birthday presents for quite a few years. Mention of crypto will likely precipitate a family fight - I do not see a way back from this.

everybodyknows 4y ago
Not at all to doubt this -- can you point to any quantitative reporting?
- sgt101 4y ago
  https://news.bitcoin.com/study-7-6-million-south-africans-are-crypto-investors-social-media-main-source-of-crypto-related-information/ https://news.bitcoin.com/study-7-6-million-south-africans-ar... https://www.theguardian.com/technology/2021/jul/31/out-of-control-and-rising-why-bitcoin-has-nigerias-government-in-a-panic https://www.theguardian.com/technology/2021/jul/31/out-of-co...