“As alleged, Bitzlato sold itself to criminals as a no-questions-asked cryptocurrency exchange, and reaped hundreds of millions of dollars’ worth of deposits as a result. The defendant is now paying the price for the malign role that his company played in the cryptocurrency ecosystem.”
I belive US has decided to come down heavily on the decentralised or non-kyc exchanges. That's quite unfortunate! Cryptocurrency is definitely being used by criminals and if US has done it against some irrefutable proof, that's fine! Eventually the NFT platforms will suffer the similar fate because that's mostly the playground for money launderers. No one of us like KYC but if that particular matter is allowing criminals to freely transfer value, that's not good for the market either. Or they are doing witch hunting, as they are going after the Russian and it's supposedly money laundering scheme which involves this exchanges. So we shouldn't be surprised specially that the war is still ongoing and US trying to put down everything that support the war in favor of the Russians including Russian citizens and supposedly criminals hiding on the coat tail of this shady exchange or it's founder and owner. That's what surprises me! When US wages war against oil rich countries, it's for saving the mankind against the terrorism. And when Russia goes on war to not allow NATO forces to reach their border, that's a war! How hilarious is that! War is bad in any shape or form. But the motives behind it needs to be re-justified in future by the US government when another super power will be ready to challenge their dominance. Having one super power is not too democratic. |
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Some wise man once Said - tokenization is the future! This is one prime example of tokenization. You don't need to move the physical gold, but still you can transfer the value. What else do you need? US lobby needs to be broken for a peaceful world. If it can't be broken, a new lobby should come up to challenge US dominance to maintain balance.
But even if Russia and Iran join hands to create such stablecoin, I don't think that will be made available to the commoners like us. So it will remain a strictly centralized currency system.
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I'm bit confused to decide that XRP is security or asset like BTCBTCFor asset : XRP have limited supply of 100 billion tokens For security : it's security because it's a company, I am confused by watching this, the link is at that time : https://youtu.be/RI4xEHI7tGgHelp me to decide please, For me, XRP is not an asset. The simple reason is that it has a company backing it up so they closely control it's supply in the market. So it has less volatility and also they are focused on cross border payment business where they have already got multiple clients. XRP is very centralized in nature and not comparable with bitcoin in any way. So I won't consider it as an asset. |
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“As alleged, Bitzlato sold itself to criminals as a no-questions-asked cryptocurrency exchange, and reaped hundreds of millions of dollars’ worth of deposits as a result. The defendant is now paying the price for the malign role that his company played in the cryptocurrency ecosystem.”
I belive US has decided to come down heavily on the decentralised or non-kyc exchanges. That's quite unfortunate! Cryptocurrency is definitely being used by criminals and if US has done it against some irrefutable proof, that's fine! Eventually the NFT platforms will suffer the similar fate because that's mostly the playground for money launderers. No one of us like KYC but if that particular matter is allowing criminals to freely transfer value, that's not good for the market either. |
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Just a couple of days back, RBI Governor Shaktikanta Das made some strong statements against cryptocurrencies in general, crypto should be banned, given its no underlying value in the market. Just like every asset, every financial product comes with some underlying value, hence the value of crypto is totally based on the make-believe factor. Crypto is a form of gambling without any underlying value and is nothing but a 100 percent speculation world. Crypto is not a financial product but pure gambling, and called for an outright ban on it. As the union budget of 2023 is approaching, do you think it will make the Finance ministry take some strict decisions against cryptocurrency in India? I am worried to be honest! News ref: https://www.indiatoday.in/cryptocurrency/story/rbi-gov-calls-for-an-outright-ban-on-cryptocurrency-as-union-budget-2023-approaches-2322146-2023-01-16 |
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The ICO boom affected the entire crypto market in a bad way. Scammers made millions while commoners like you and I, lost everything! At the beginning it definitely paid well for those who left the market at the right time. But those who kept on holding with the hope of a rebound, lost money.
It's very similar to the NFT market. Whoever gets in at the beginning of the hype, makes money! Rest all are loosing money provoked by the scammers.
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What do you guys think about the future of nft?
Many people think that nft is useless digital trash, but I have a different idea from them.
This is because many famous companies and platforms around the world employ blockchain developers and create related nfts in various fields such as art and sports.
I think it's now Nft's turn, just as Bitcoin has been treated as digital waste and its price has been upward.
Tell me what you think
NFTs turn is gone! It will only work if global celebrities decide to launch their own NFTs and actively promote it. But if you are a commoner and you decide to try your luck in NFT market, you will be greatly disappointed. Just try if you don't believe it! As rightly said by Mr. Elon musk, NFT is just a marketing buzzword and nothing else. This is a hype and when that hype was there, people made money! Now it's dead! |
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Saudi Arabia asserts that it is willing to accept payment methods other than the US dollar for international trade. So could this be a comparative advantage for the crypto market? https://www.[]business/energy/davos-2023-saudi-arabia-says-open-to-settling-trade-in-other-currencies-1.93268195 The entire middle East is now trying to come out of the devil grip of US. I won't be surprised if crypto as an alternative is actively being discussed. But it's highly unlikely to become a reality. The simple reason is it's volatility. For a country who are solely dependent of the sales of oil and natural gas, won't gamble on such highly volatile asset. Most probably the OPEC plus countries will go ahead with a multi currency setup in future where major economies will be granted allowance to use their own currency to purchase oil and gas from Saudi Arabia. Let's hope it happens and let's hope US doesn't wage another war on this issue! |
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I am sure McDonald's had recently hired some non-sense marketing person who has came up with such non-sense idea. As a fast food chain, they must focus on Customer experience. Metaverse is an unknown territory for them. Where companies like Facebook is struggling and loosing money on their metaverse project, I am not sure what MCDONALD will do any differently!
Let's revisit this thread after a year when they will announce a huge loss on such utility less project which doesn't help their existing business.
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CBDC will take over the fiat market in next few years. It has two legs to it. The first leg is convenience which is the USP for the retail users like us. Another leg is full transparency to the government. Financial Anonymity will become a thing of past with the implementation of CBDC. So whether we like it or not, CBDC will be implemented in all major economies in next few years.
Even India has started trial run of CBDC and planning to implement it for commoners like us in next two years. However, it should not impact the crypto market in any way!
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China's government is authoritarian by nature. So whatever policies China is making about cryptos will be directly against the interest of the market. That's the trend since very beginning.
Now if China is still contributing a huge amount of mining hashrate despite all the ban, might be controlled by its government and not by individual miners. They always keep everything so secret, it's impossible to know what's happening there! China thinks 50 years ahead of us. So that's why I personally believe if Chinese mining contribution goes to zero, that will be a great news for the market for the long term.
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The current RBI governor is a puppet to the government, unlike Mr. Raghuram Rajan. So it's no wonder he is speaking the language of the government. But being a central bank, what else can you expect? Especially when the country is being led by non-progressive party!
But deep down his heart, he knows it very well that cryptos can't be banned completely. It's like banning the porn websites in the country. The ban exists on paper but the websites are all available.
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To be honest, El-Salvador is gambling on bitcoin big time. I understand that the president is very bullish on bitcoin but the country will face a bad financial date if the price of bitcoin remains down. They will definitely gain if the price goes higher but Not sure what's their contingency plan if the price goes down?
So whatever bond or instruments they are releasing, are gambling only. Not only for El-Salvador but for the investors as well. I hope they will find some institutional buyers.
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2. As we have seen over the years maybe 90 to 95% of crytpo scams have been perpetrated on the ethereum blockchain. So what?? Majority of the financial scams and hacking incidents involve bitcoin. Does it matter? It's a very wrong statement and unrelated to the subject of the thread. POS is definitely more centralized in nature than POW coins. Also POW coins have a production cost unlike POS coins. But that doesn't make ETH look bad. It is a steller performer since the day it was launched. If you don't trust ETH, that's fine! But ETH is equally a great investment like bitcoin. |
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Could this open the door to widespread and unregulated head hunting of corporate talent? Could this make it easier for disgruntled and unhappy employees to seek employment in other countries, cities or states? Lol! What are you talking about? This is a very positive development. Now the companies will be forced to pay as per the market rate to retain the right talent. Any kind of binding contract is slavery and with this new rule, contractual slavery would end, at least on paper! I hope many other countries will follow a similar rule. This is the need of the hour. This will force the employees to become better to remain in the competition and also force the companies to pay the right price for the talent which was long due. Non-competing clause has only benefitted the companies and not the commoners like us. Now the situation will be changing, at least in US! Most welcoming move in the corporate sector, I would say! |
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For the ones who do not follow Collectibles forum ( https://bitcointalk.org/index.php?topic=5434506.0): Cold Key owner retrieved private keys of all the sold 'cold wallets' he produced and as he was in need because of gambling he stole all the funds. Which (apart of obvious sad event for card buyers/owners) is a very problematic for the whole "collectibles" market, any coin/card producer now will be asked twice "how may I trust you?". More than gambling addiction, it seems like a cold blooded scam! The seller intentionally did this with a plan it seems! Gambling addiction could be one of the reasons but this one doesn't look like one typical case. It looks like a well planned scam. Now due to the nature of cryptocurrency, it will be extremely difficult to find that person who staged this entire incident. All the best! |
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Firstly our board left stranded, and our fellow community members should revive and start the discussions again as in the past and I hope I can engage into the discussions as well regularly. Great! It will be really helpful if someone can take up this initiative and bring back some activities in the group. What is the hope for cryptocurrency in India especially this year, in my opinion not looking too great since the implementation of new tax policy last year but with the next government can something will change if there is someone who is in the position of making policies and also understand the potential in cryptocurrency and blockchain technology.
To be honest, the current 30% taxation is nonsense! I personally have stopped selling bitcoin after this rule came into effect. 30% tax without the chance of offsetting losses, is just bad for the crypto market in general. It will definitely change if some progressive politician becomes the FM. But looking at the rulling party, the chance is slim. |
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I recently heard about Blue Chip NFTs and wanted to learn more. After doing some research, I can say that Blue Chip NFTs are a type of Non-Fungible Token (NFT) created on the Ethereum blockchain that represent ownership of a digital asset such as artwork, music, or digital collectibles.
The benefits of owning a Blue Chip NFT are numerous; they are highly secure and provide a unique digital asset to collect. Additionally, Blue Chip NFTs are a great way for artists to showcase and monetize their work, as well as for investors to have a tangible asset to store value.
Overall, I believe that Blue Chip NFTs are a great addition to the world of digital assets. They offer a secure, unique, and valuable asset to collect and store value.
Blue chip NFTs are a bigger scam than normal NFTs. rest all are same! They are structured in the same way! But since the NFT market is completely saturated (it was expected), the NFT makers were looking for a marketing buzzword so that they can at least sell off their computer-generated images which failed to find a buyer. There is nothing called blue chip NFT. It's all about creating a buzz in the market. Think about ICO market. When ICO boom was slowing down, ICO scammers were thinking of something else to sell off their tokens in the name of IEO, IDO etc. Blue Chip NFT is just same! |
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I don't think it will be easy as we think because anyone will do anything to abuse the system.
Paid based on number of words? it will abused by ChatGPT.
Paid based on how much the likes/tweet/share? it will abused by multiple accounts bot.
Paid based on the quality post including meme? I don't think the team behind twitter will want to spend their whole time to read their member's post.
It's still proposal though, similar like Facebook where they want to create their own coins since 2018 and now there's no progress about it.
I don't think these will be the parameters to monetize the content in Twitter. This is one of Elon's plan he announced immediately after acquiring Twitter. So let's wait for an official announcement. But I am sure that some token based system is going to be introduced which will be used as an in-house currency. I have seen a lot of speculations around the KPIs for monetized content similar to yours. But no one really knows the reality. Let's wait for that! Every platform faces the risk of misusing the reward system. Twitter is no exception! |
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El Salvador Adopts Law to Support "Volcano Bond". In the Legislative Assembly, the digital asset bill received 62 yes votes and 16 no votes and this law will create a regulatory framework for Bitcoin and all cryptocurrencies in El Salvador.
After this news broke, I think we should expect more bullish trend in the market for now.
What is your opinion?
Providing regulatory framework is a good thing because it paves way towards cryptocurrency adoption. However I am little sceptical about the bond. El-Salvador is a very small country without any significant GDP. So whatever bonds they will release, they will have to honour it in future. Unless we see a significant upward movement in bitcoin price, not sure how are they going to honour the bond repayment commitments. Bitcoin is super volatile. No one should gamble with it at such scale. |
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