India has moved from a shortage of power to an excess electricity generation capacity now. The government has a plan to boost electricity usage by offering rebates and incentives. Could this mean that more Bitcoin mining pools could spring up in India or the existing GBMiners pool grow?
Read the full article here by India Times / Economic Times
“With over 250 million people unbanked in India and as the world’s largest inward remittance market, which received just under $70 billion in 2013, India represents a prime location for bitcoin adoption. As bitcoin has grown in popularity throughout the years, the Indian market has gladly jumped on board with the likes of Indian bitcoin exchanges Zebpay and Unocoin, illustrating that bitcoin’s growth in India is set to continue rising.” GBMiners fills the gap for Bitcoin Adoption in India
GBMiners is the fastest growing Bitcoin Mining Pool and based in India – In an interview with Co-Founder Nikunj Jain and Co-Founder/investor Amit Bhardwaj said “People may start with holding Bitcoins as an investment instrument and those who learn faster and understand the economics faster would even like to invest in mining and we’ll be very happy to help them set up servers. An efficient mining pool, running at scale from their homeland, will really give confidence [to investors]” India’s Path to Bitcoin Adoption, Interview with the Largest Non-Chinese Mining Pool
Below is the weekly volume for India on the LocalBitcoins platform and as you can see, traded volume is growing. LocalBitcoins connects buyers and sellers that are in close proximity of each other. This platform is making it easy to have access to Bitcoins globally and connecting like-minded Bitcoin Believers.
Watch this video on Bitcoin Adoption in India
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