It's a looooooooooong way to go! It is easier said than done!

De-dollarisation is needed to reduce the dominance of US. Still, in order to achieve this effectively, OPEC countries must come forward and announce that they will take their own coins/currencies in order to sell their oil and natural gas to the rest of the world. Unless such things happen, de-dollarisation will remain on paper but never be implemented.

What it seems now is that a couple of countries are forming their own trading group where they can use their own currencies by avoiding USD. Its impact won't be seen unless they form an alliance and stand their ground on the decision of not taking USD for any of their international trades. Otherwise, it is just not going to help achieve the end objective.

All major media houses are run by big corporations and these big corporations are run by bank's money. So it's no wonder that they will try to defame crypto market. We are seeing such attacks since a long time now. So those who are familiar with cryptocurrency in general, they know how to ignore such things. The challenge is with the new people who have not been exposed to cryptocurrency.

But the only silver lining is that their impacts are temporary and the market is slowly gaining immunity against such defaming attempts.

Nothing more to expect! Our dear honourable FM didn't speak a single word about crypto taxes in today's budget. So the 30% taxation still persists and I am not going to sell a single dime from my bitcoin holding. That's precisely what I had expected and the Union budget has fulfilled my expectations.

This is a absolutely nonsense as the finance ministry is not even considering cryptocurrency as a worthy asset class to even discuss about it. Their ignorance is very very visible!

Mortgage banking in US is a very unstable market. So they always keep on finding alternatives to sustain their business. Because with every interest rate increase, they see an increase in their NPA. I am glad that these traditional mortgage banking companies have agreed to lend money into crypto businesses. That's a drastic shift in their ideology.

Even though it's not good as we always want to keep the crypto market separate from the traditional market, I am delighted to see their willingness to support the crypto market during crisis.

Personally, I don't use such browser-based wallets as my main wallet due to security reasons. Because it is easier for a hacker to gain access to your browser through some malicious website compared to gaining access to your computer. So usually I use such wallets as transit wallet due to added convenience for trading/gaming. But for my personal wallet, it's definitely not a browser-based wallet.

So if you are holding a significant amount of crypto, prefer hardware wallet and nothing else. Some initial investment on hardware wallets will save you from future regrets.

I strongly believe yes!

Majority of the altcoins are pure gambling. A lot of people invest on them as if they are a get rich quick scheme. In 5his process, a lot of people looses their money. So these altcoins are a big roadblock for bitcoin's liquidity.

The investments that should have come to bitcoin, a divided to these altcoins which are resulting in less demand for bitcoin. If 20% of the investments that are going towards these shitcoins, were coming to bitcoin, we would have crossed trillion dollar quite easily. So these altcoins are really bad for the market.

Amazon is facing immense challenge all over the world. In my country, street vendors have started free home delivery. Since 2020 when COVID hit, the buying behaviour of consumers have changed drastically. They became addicted to online shopping which encouraged the companies like Amazon to invest more to build up their infrastructure and provide such services. But now when COVID doesn't exist anymore, people are going back to their old habit leaving a big gap between supply and demand.

A lot of changes are incoming into the e-commerce front. Amazon is likely to discontinue their grocery businesses in next couple of months due to the steep competition from the local players. People won't pay extra amidst this economic downturn for such products which are available quite easily from local vendors. Wait and watch!

They can't really implement bitcoin through embassy. The only thing they can do is to extend the embassy related services against bitcoin payments. Probably that's the thing they are targeting. As bitcoin is their official currency, their embassy has full right to use it as an official currency in all embassy locations.

As of now, El-Salvador holds embassy in 33 countries only! Also they are not much actively visited by the travellers. So I am not sure how helpful it will be for El-Salvador. But every Chang needs a humble beginning. So that must be it.

What law is he talking about?? There is no law at all in India on cryptos. Nothing has been classified yet. It was only a point mentioned by our FM during last budget session.

I am eagerly waiting for 1st Feb budget session to actually know what the government is thinking about cryptocurrency. Also cryptos really doesn't come under the purview of IT minister. It is really a finance matter so IT minister doesn't hold any say there.

I don't think Amazon will enter into this market. They are probably exploring the opportunity but they will eventually back out due to the questionable nature of the market. They will definitely not sell the random jpg images even if they decide to enter.

What could happen is that Amazon probably will create a marketplace to sell in game NFTs which has certain legal bases. But they won't create anything similar to Opensea. Zeff Bezos won't gamble with reputation.

OP, it is sounding like a science fiction story. The concept is good but the cost of development might not justify the end goal and the value it will bring. But I have something close to your thought which is available right away in wearable tech industry.

You can now implant a chip in your body which can be linked to your bitcoin wallet and you can just tap that chip to make payments.

https://youtu.be/Ihdm87Vm1y4

Watch this video.

never ever do that! Bitcoin is an ultra-volatile asset so it is very important that the investor understands that risk. You can surely guide him on buying bitcoin, using a wallet, etc. But you must not hold his bitcoin in your wallet at any cost. If I were you, I wouldn't do it! But yes, I will share my honest opinion about bitcoin and other related services with that person just to help him find a suitable way. The decision must come from the other person and he can base his decision on my input. But I wouldn't take the risk to do things  on his behalf.

That could be the case! But Modi is not really dependent on the votes of educated youths. So I am not sure if the government will wait for that long. I am pretty worried and eagerly waiting for the budget on 1st Feb. I am sure some sort of indication will be there. But let's hope nothing bad will happen!


I hope all years are safe from the evil eyes of the government! But there are some specific reasons why the Indian government is not very positive about cryptocurrency. The committee they formed to study and suggest about crypto a couple of years back, they came back with the same suggestion to ban and also proposed punitive actions against crypto users. Now the RBI governor! Even though he is a puppet of the government, still his position is an impactful one.

I won't be surprised if FTX again opens up under new management. If I take examples of various banks around the world, usually they get government support to ensure that the bank can restart its operation. However, we haven't yet seen any such things happening in crypto world. rather we have seen a long litigation process and extreme delay in refunding the money of the investors in various cases. So I am not sure if FTX will really start their operation again. But it seems highly unlikely.

It can be only possible if some billionaire steps in and propose to take up their losses and liabilities in exchange of 100% ownership and no legal action, FTX might re-open someday.

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.

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.

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.

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.

Just a couple of days back, RBI Governor Shaktikanta Das made some strong statements against cryptocurrencies in general,




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

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.