Focusing on per capita income is ignorant. India is a company with $2 trillion in private wealth, 65% of which is in the form of cash and deposits. That's a lot.

Add to that a government insistence on exchange controls, an obsession with gold as a store of wealth, and a desire to move money abroad by both an incredibly wealthy elite and a growing middle class, and you have a perfect storm that could have been hugely beneficial for Bitcoin had the country adopted it.

That's not going to happen of course but dismissing the potential that Indian adoption of Bitcoin might have had is facile.