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1101  Local / India / Re: Oct 1 | Tax on online gaming & casinos set to 28% on: October 05, 2023, 09:02:19 AM

The confusion here would be if casinos running outside would have to undergo KYC document submission to the Indian government and the gov then tracks down how many of us are winning money there. Grin

Then the decision of 28% or 30% would come in, obviously this would not happen anytime soon.

Again most casinos are not based in India as gambling is illegal as per the law. These casinos are always located in locations that are tax heaven, it is not that easy for the government to get user data from them. Crypto Casino user data is harder to get hold of as they do not force every user to pass KYC, plus they are mostly anonymous. So it is out of the question for the Indian government to track those users using these casinos.

If they do use Indian exchanges to convert their winnings to INR it won't fall under the 30% TAX slab as there is no way the government would know it is a capital gain. They would only see it coming from an online wallet to the exchange wallet on the same day. If the price of cryptocurrency that is being transferred on the same day does not change capital gain is not applicable. 
1102  Local / India / Re: India is creating a Global database of Crypto Exchanges. on: October 05, 2023, 08:42:28 AM
Something like this was in the making, I am not sure how the Indian government would convince CEXs like Binance and others to hand over their user database. I do not think the Indian community would be facing any issues. They are already using multiple non-KYC DEX for P2P transactions after the Binance P2P issue. Creating a user database from the CEX won't help the governments in countering illegal activities. Criminals won't be using them, most of them would be using non-KYC exchanges like a DEX.   
1103  Local / India / Re: [RAFFLE #11] - Pick a lucky number and win 0.001 bitcoin on: October 05, 2023, 08:30:32 AM
snip

Thanks @Heisenberg_Hunter for organizing the Great Indian Raffle,
I successfully received the reward in my BTC wallet.



Congratulation crafter.
1104  Economy / Gambling discussion / Re: ICC WORLD CUP 2023 ACTUAL DISCUSSION THREAD! on: October 05, 2023, 08:29:21 AM
~snip~

Who will win tomorrow? Any guess?
If it's a flat deck then Poms are clearly the favorite unit because of their destructive batting lineup, they also bat very deep and the team has a nice combination of spin-fast bowling all rounders and raw pace. Ben Stroke is struggling with niggle tho.

If it's a competitive track then the contest should be a cracker and Kiwis might have a slight opening because of Boult. 

The Kiwis choose to bowl first after winning the toss, are they expecting something from the wicket early on? I was also expecting a batting wicket with nothing to offer to the bowlers. England would be trying to repeat their performance against the Kiwis when they played against each other in a bilateral series. Who do you think would score the highest runs today and which bowler will be successful today? I have no idea which batter would be scoring high today but Mark Wood would be my choice out of all the bowlers.
1105  Local / India / Re: We need active people on: October 04, 2023, 08:06:59 AM


How? Who pays you?

Also, do you run any P2P exchange that supports INR to Crypto conversion and vice-versa?

Utopia is a platform that provides P2P ecosystem. They have chat, mail, browser and the last time I checked they were launching music streaming within thier platform. Thier ecosystem is fueled by thier native token Crypton($CRP). The token is currently traded on a few exchange and is listed on CMC. You need to download it on your desktop or mobile device to access Utopia. I have participated in its review and found it intresting. You can visit their website to know more about it. If you are interested in participating in the review campaign then you can check this thread, the campaign is being managed by joeperry.
1106  Economy / Gambling discussion / Re: ICC WORLD CUP 2023 ACTUAL DISCUSSION THREAD! on: October 04, 2023, 07:38:23 AM
Retired willingly as it was a practice match and wasn't a List A match, which means stats in such matches never add up to your tally. Yeah, it was a belter and Babar had to come because top order didn't use this opportunity well.

In general, these kinds of matches are useless, it's just an upgraded version of the net session because teams are allowed to have 15 men playing squad for every match. There are no caps on bowlers or batters, teams can even field 8-9 pure batters or bowl as much as bowlers, that's why Australians used 8 bowlers and 3 of them were Warner-Smith-Marnus.

Babar Azam was suppose to take rest in yesterday's match. When he saw his team under the captaincy of Khan was not playing well he captained for the last 15 overs. When the batting line-up failed he went to bat fir his team. A good captain never leaves his team when it requires him.

Australia in the meantime took the match as a practice match. Warner, Smith and Marnus bowled lose balls, yet they managed to win the practice match. Not a good sign for Pakistan and Pakistani fans
1107  Local / India / Re: Gemini Exchange planned to invest 200 Crores INR on: October 04, 2023, 07:13:50 AM
Gemini exchange is one of the oldest crypto exchange founded in 2014 in the global market and they recently launched their start-up in India back May, after testing enough for the last few months now they announced the invest 200 crores rupees ($ 24 millions) over the course of next 2 years to expand their company in India.

Also, Pravjit Tiwana (CEO APAC | Global CTO) mentioned "We are actively hiring for a number of key roles in our Gurgaon office, including software engineers, technical product managers, people operations and talent acquisition, finance, support, and compliance."

Gemini To Deepen India Investment Over Next Two Years, With Plans to Invest INR 200 crore In Gurgaon Engineering Hub

How do you see this?

Especially when crypto exchanges are struggling to survive the market due to the Indian tax rate of 30%, but now another global exchange entered into the competition which shows that there is lot of potential to make profits by the exchange in India.

Coinbase also has a hub in India with an investment of $150 million in total. Gemini is following the same path as Coinbase, a lot of new job opportunities would be created by this investment. I am certain they won't start their exchange operation in India unless regulation comes into place. This is a piece of good news for the Indian economy which is looking far better than the global economies.

Only Indian exchanges are struggling for now and not global exchanges like Gemini. This news has nothing to do with them starting their Indian operation. It is only related to software development and research, which they have outscored to India.

1108  Economy / Gambling discussion / Re: 🌀 [banned mixer] - CONTEST ICC MENS WC 2023 AND DISCUSSION | Free Entry on: October 02, 2023, 08:31:14 AM
One Time Prediction :

1: Who will win the World Cup final: India
2: Who will score high runs throughout the tournament: Shubhman Gill
3: Who will pick more wickets throughout the tournament: Kuldeep Yadav
4: Who will hit more sixes throughout the tournament: Hardik Pandya
1109  Local / India / Re: ICC World Cup 2023 - India discussion on: October 02, 2023, 07:59:33 AM
^ I find Ashwin to be better than Axar patel, I'm glad Ashwin is in. I have two favs aside from India, Kiwis and SA, Kiwis played superb in their match vs Pak, SA's first got abandoned but we'll see tomorrow.

Axar Patel isn't that good at bowling but to be very honest, he bats much better at the lower number and brings up the hopes when everyone thinks that the team is going to lose. TBH, there are various batsmen like him, like Rahul Tewatia and Yashasvi Jaiswal but they're kept out maybe because the team doesn't find the potential in them to play the World Cup '23.

I am not sure about Tewatia but Jiaswal will get an entry in the ODI team when either Rohit or Kohli are not playing. Jaiswal has got good potential and has proven that he is suitable for all formats of cricket. I am sure for now he is happy to be part of the T20 squad. Next year we might see him playing in the T20WC. BCCI has already given signs that Kohli and Rohit won't be part of the playing 11.

Axar Patel is the future and he will replace Ashwin in coming years in all formats of cricket. I am not against Ashwin but I think that after the World Cup, it would be the right time for him to retire. He is already 37 and he got this opportunity to be part of the playing 11 due to Axar Patel's injury. At the moment the main concern is Jadeja's form, he has not scored anything big in the matches he has played. India does need him for the lower orders whenever the middle order collapses. 
1110  Economy / Gambling discussion / Re: ICC WORLD CUP 2023 ACTUAL DISCUSSION THREAD! on: October 02, 2023, 07:46:59 AM
For the semis, I'd go with the usual suspects because it's freaking 10 teams tournaments. Quite a hilarious and pathetic scene at the same time.

India + Australia + England are fixed as these teams usually cover their all departments. Be it bowling, batting or fielding. Aussies are a bit short in the spin department tho.

Then we have to bet on 4th semi finalist. Traditional wisdom says New Zealand and Pakistan but this time South Africa is looking alright too.


I will go with South Africa and Newzealand who will be fighting for the 4th one in the semifinals. South Africa has suddenly emerged as a team that could create some bad memories for the top 3 you predicted. Pakistan I would have chosen them before the Asia Cup fiasco. They are visibly struggling with their bowling department. Fielding was never their upselling point and is okayish as per me, batting depends on whether Babar and Rizwan are able to score big.
1111  Economy / Gambling discussion / Re: ICC WORLD CUP 2023 ACTUAL DISCUSSION THREAD! on: October 01, 2023, 01:22:21 PM

Before the Asia Cup, the Pakistani team were looking almost invincible or at least a strong contender for the WC but somehow they got exposed and opponents can notice some chinks in their armor.

Having said that, I think this kind of reality check is good for Pakistan or any team because sometimes it could turn into a blessing in disguise, given they are working hard on such problems.

The current situation is basically suggesting that we should not talk about the Pakistani team. What I would like to know is which teams will be in the semifinals. I believe that India, England, Australia, and South Africa can be the teams which will be in those rounds. I do think this tournament largely depends on the teams that have a good batting lineup. While there are a lot of batters in different teams who have the potential to change the game, India in general is looking still weak.
1112  Local / India / Re: Oct 1 | Tax on online gaming & casinos set to 28% on: October 01, 2023, 12:19:02 PM


But the question is that tax rate for crypto earnings is still 30%. So the earnings from crypto gambling sites would be taxed at 30% or 28% ?
I personally think it would be 30% since crypto is involved and the government wouldn't leave a place where more tax can be collected.

Source: Online gaming: 28% GST comes into effect from October 1, CBIC makes announcement

Assuming we go through the legal way, as in you use a crypto casino to play and earn some profits then transfer the winning amount to an Indian exchange. You then convert your winning to INR. The taxable amount after the TDS deduction would be nil as it does not fall under capital gain if you did the conversion on the same day. You won't be paying 30 percent tax as per your earnings as it does not show you made a profit. The government cannot go after International crypto casinos that are based on a foreign soli regardless of you being a verified KYC user.

The law only applies to those individuals who are using local casinos with fiat money. This is not quantum computing or something out of logic to understand. This is a simple loophole in which the Indian government cannot do anything. Unless they come up with a law that forces a user to verify their personal wallet. Why I talked about the personal wallet is for you to understand.
1113  Economy / Services / Re: [OPEN] [banned mixer] - Bitcoin Mixer | Sig Campaign | Up to $150/W on: October 01, 2023, 11:58:31 AM
Username: pakhitheboss
BTC Address (bech32): bc1q9vjk87dw4v6ksxvev7uyjwfck476vup39awwct
1114  Economy / Gambling discussion / Re: ICC WORLD CUP 2023 ACTUAL DISCUSSION THREAD! on: October 01, 2023, 11:54:06 AM
Pakistan VS Newzealand

Like i mentioned during the Asia cup. Middle overs, lack of quality spinners and over dependence on seam bowling could be the downfall of this team.

They only rely on seamers to take plenty of wickets in the first 10 overs with the new ball, after that, everything depends on kudrat ka karisma.

Batting - Good
New ball- death bowling - Simply amazing
Spin- Mediocre at best
Fielding- It's improved a lot but they still manage to fumble when it matters most.


There is another big problem with the Pakistani team, if they do not get any wickets in the first 10 overs then their bowlers tend to get confused. The first two bowling halves of their seamers are important for the team to make a difference with their bowling attack. The next issue is with the opening pairs, they seem to lack the skills to play an ODI. If Babar or Rizwan do not perform then those coming after them would lose their wickets under pressure.
1115  Local / India / Re: ICC World Cup 2023 - India discussion on: October 01, 2023, 11:09:23 AM
We were discussing Ashwin on another thread as to how lucky this guy can be. He got selected in T20WC because of an injury to another bowler. This time in the ODIWC he was again selected because of another injury. He is a perfect all-rounder at the moment that India needs in the lower batting order. India and England are the favorites but you cannot ignore the South African side, they are looking very good. Cannot ignore Australia and the Kiwis these two teams have the ability to outperform themselves in ICC tournaments.
1116  Local / India / Re: ZebPay Teams Up with Brave to Offer Rewards Program to Users in India on: September 30, 2023, 07:57:48 AM
I guess this partnership will be a good advantage for both Brave browser and Zebpay exchange.
But I wonder how much were users earning earlier when they were getting these rewards.
I remember my friend taking part in this program earlier but he wasn't satisfied with the rewards.

The current price of 1 BAT token is INR 14.65, in 2021 when the bull run was happening it was INR 132 approximately. They stopped BAT rewards sometime in 2021 before the bull runs. It was better than what it is now, I used to earn somewhere around INR 1000 or more using three browsers in every 2 months time. At the moment it would be very hard to make that kind of money in that timeline. You would need more than 10 browsers to earn a small amount of INR 1000 in just 2 months' time. When the next bull run comes the value of BAT should increase and at that time I am sure a lot of users will use the same trick to earn those tokens.
1117  Other / Beginners & Help / Re: Avoiding Faucets and Airdrop Scams on: September 30, 2023, 07:48:01 AM
Those who fall for such traps are new to cryptocurrency and those who are always ready to get in hand-free money. The newbies fall for such a scam thinking that the upcoming token might pump and make them rich. The greedy ones want to get more and fall for the free money. Things won't change until these guys understand that airdrops and faucets are no longer profitable. They are a waste of time and can get them scammed by a scammer.
1118  Economy / Gambling discussion / Re: ICC WORLD CUP 2023 ACTUAL DISCUSSION THREAD! on: September 30, 2023, 03:54:12 AM
Pakistan VS Newzealand

After batting so well I never expected Pakistan to lose the match. Yesterday's match proves that the Pakistani side is in disarray and doesn't  actually knows what to do. 345 is not an easy target to chase but the Kiwis chased it like professional unit even though they were not playing their full team. Pakistani bowling without their star bowlers is nothing. One good sign is that their star batters are back in form. Only batting would not help them they would need bowlers to back them.
1119  Economy / Gambling discussion / Re: ICC WORLD CUP 2023 ACTUAL DISCUSSION THREAD! on: September 29, 2023, 08:52:33 AM
Pakistan VS Newzealand (practice match)

The match started in Hyderabad, Pakistan won the toss and elected to bat first. They have already lost a wicket of Imam-ul-Haq. Babar Azam is now playing with Abdullah Shafique. It looks like the ball is turning, the Kiwi bowlers are attacking the Pakistani batter with an attacking field placement. The pitch is suitable for scoring big runs and after settling down I think Babar Azam would go after the kiwi bowlers.
1120  Local / India / Re: Report Good Post on: September 29, 2023, 08:23:12 AM
I submitted links of my posts and few others there,

Thanks for submitting a few of my posts. I got a few sendable merits because of you and have given you one today for your action. I was going through the thread of hugeblack and found something encouraging written there.

Most of the contributions were from the Nigerian LB, which I believe that after these solutions they obtained enough merits. There are a few contributions from other LBs, but if there is any LB that suffers from a problem in the distribution of merit, I hope that a trusted member to PM me.

I am going ahead and sending him a DM to take a look at our board.
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