It’s not yet the holidays, but it’s almost Diwali, the Hindu festival of lights, a fitting theme for today’s bitcoin news. Diwali lasts for five days beginning Oct. 20, and bright lights, colorful decorations and fireworks mark the occasion. The Indian people celebrate by lighting diyas and candles around the home, seeking divine blessings from the goddess of wealth and exchanging gifts, such as gold coins.
But on a more commercial note, Indians are expected to spend as much as $1.7 billion online during the run-up to Diwali, according to RedSeer Consulting. And bitcoin purveyors and exchangers are eyeing an emerging eCommerce market in India that might offer the right components for traction.
No surprise then that, after Walmart disclosed that it was negotiating with Flipkart Ltd., India’s eCommerce leader, Amazon, is also vying for the top spot ahead of the Diwali shopping season. Bloomberg stated that Amazon is spending $5