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1301  Economy / Gambling discussion / Re: CWC2019 Prediction Pool - Win x BTC [Additional prize in every round] on: June 15, 2019, 05:27:39 PM
~snip~

They are trying their best to dry the outfield at Manchester which is wet due to today's rain. I hope the play is not spoiled by rain tomorrow as Pakistan will eagerly waiting to get an easy 2 points from the tomorrow match.  Smiley

~image snipped~
Are you saying if we see a match tomorrow then Pakistan is going to win? There are no way for Pakistan to defeat the current Indian team. There will be no competition at all if we see a full match.


Yes, Pakistan will win this match.  No matter Indian team is strong on paper and field but Pakistan have faith in them, and this is a WAR more than a game.

See you on battle field tomorrow  Smiley

Not only on paper but recent results show that India team is mile better than struggling Pakistan side. India has such concrete batting lineup where anyone from top 7 can score hundred as well as bat at the strike rate of 150. Name me any other team which have 7 world-class batsmen in the lineup. However, absence of Dhawan might make things complicated for India but still they got Rohit, Virat, Dhoni, Rahul, Jadhav and Pandya! I mean what else you need!!
Coming to bowling, well all four of the Indian bowlers have successfully showed their class so far. When you got 11 out of 11 match-winner players, no one stand chance against you. Moreover, Pakistan is not even one of the best 3 sides currently.
My bid is on India and difference of winning will be 'Thrashing'.

What do you guys think about the 2nd match (Afghanistan vs South Africa)? What will be the winning margin for South Africa. I am heading to easy win (6-8 wickets). May be they will only lose 2 wickets however a trashing win is also possible.

South Africa is going to get thrashing win in my opinion. Afghanistan side is too amateur and choke easily. I don't think SA will lose more than one wicket.
1302  Local / Regional Languages (India) / Re: धागे में सहयोग करने वालों के लिए मैरिट on: June 15, 2019, 04:25:30 PM
आपकी सोच अच्छी है और मैं इसकी सराहना करूँगा पर भारतीय जनता अन्य देशों से विभिन्न है। यहाँ के लोगों की अंग्रेजी अन्य देश जैसे कि रूस से बेहतर है। यदि भारतीय इंसान बिटकॉइन जैसी तकनीकी चीज़ के बारे में जानता है तो यह कहा जा सकता है कि उसकी अंग्रेजी भी अच्छी होगी। इस लिए मुझे नहीं लगता भारतीय खंड में भारतीय भाषा के मुकाबले अंग्रेजी पोस्ट ज्यादा होना कोई बड़ी समस्या है।।
साथ ही यह भी गौर किया जाना चाहिए कि भारतीय खंड के ज्यादातर धागे भारतीयों से जुड़ी समस्याएं जैसे कि बिटकॉइन बैन, बिटकॉइन कर समस्या जैसे मुद्दों पे हैं। चाहे यह धागे अंग्रेजी में हैं परन्तु अच्छी बात यह है की आम भारतीय के लिए बहुत लाभदायक हैं।
1303  Economy / Economics / Re: Issuing loans in Bitcoin, how we could do it on: June 15, 2019, 03:42:51 PM
I started to think about it. How a bank and folks could issue loans to people?

Currently, when you need to borrow money, your banker just edits your balance account and create money magically. You then pay back monthly.
Banks won't be able to do that with Bitcoin with its limited supply. You can't print bitcoins.

But now, between folks. Let's say I'm the banker and you're the customer looking to borrow money to buy a house. I can lend you the money but how to be sure you will pay me back with full interests? With banks, the solution is easy, the bank seizes the house and you can't do something. But the average Joe hasn't the same 'power' than a bank to collect a debt.

In order to see if this could work out, we have to solve following two limitations:
1. It is impossible to issue loans and charge interest in terms of Bitcoin until Bitcoin becomes primary currency in the economy.
2. Banks can't maintain big reserves in terms of Bitcoin unless Bitcoin becomes primary currency in the economy.

So this returns us to the basic question, Can Bitcoin become the primary currency in the economy? If this could turn possible then issuing loans in Bitcoin is no big deal. Banks don't magically generate money. They do this through a process known as 'Money Multiplier'. The process is also possible with Bitcoins if people start depositing Bitcoins in the bank as it will lead to the maintenance of reserves with banks and secondly, borrower conduct his business in terms of Bitcoin. So yes, corporate lending is possible with Bitcoins but the basic assumption for it had to be the acceptance of Bitcoin as primary currency.

But Bitcoin with its limited supply can never become primary currency in the economy. Hence, all ancillary economic activities associated with currency like deposits, lending, etc. are also not possible at all at bank level. However, it may be possible at individual level like 'Lending' section on the forum but that is also not very successful due to limitation of valid collateral. Not everyone possess altcoins before taking Bitcoin loans.
1304  Bitcoin / Press / Re: [2019-06-07] India Proposes 10-Yr Jail For Crypto Use, May Introduce own crypto on: June 15, 2019, 03:02:05 PM
One of the proposed solution is to have some individual or some organization based outside India to hold the coins for the users. In case the user want to convert the coins to fiat, he can ask that individual to do that and send the money to India as "gift".

But I do not see how it resolves the problem, your coins are still your coins, regardless of whether they are stored on your computer or they are located in another country. If you government know that you have BTC for example in Japan, will this prevent them from punishing you for possession of cryptocurrency?

Also this would be a great security risk for each user, "no private keys, no full control over your coins". So something like this would work only if you have  a very confidential person in other country, who can hold coins for you and sell / buy coins for you. That "gift" part is also not 100% clear, fiat is something that can be very successfully tracked, and if government find source of money it can block your bank account and send you to cold storage for 10 years.

The draft of new bill doesn't have punitive law for all type of holdings. It specifically mentioned punitive charges if cryptocurrencies are hold for any purpose mentioned under Section 8 of the new bill. So even though new bill comes to existence and trading of cryptocurrencies gets banned in India, Indians still have the options to hold crypto in their personal wallet and sell them via mediums like 'Currency Exchange' section on forum and receive money via PayPal. I don't think that would be considered as offence.
1305  Alternate cryptocurrencies / Altcoin Discussion / Re: Which altcoin is the best for trading/investing? on: June 14, 2019, 11:48:33 AM
Hi everyone! I just wanted to ask if what your favorite altcoin when it comes to trading/investing. Which altcoin is the most profitable for you? Because there are a lot of choices and I can't even decide on which one shoukd I invest.

You can't make favorites in investments. You have to be indifferent towards all coins and try to look for opportunities. For example, even though litecoin had nothing special when compared to Bitcoin but still it had highest growth rate since Jan 2019 among top coins.
So rather than making choices, search for news and trends, try to be early bird, exploit opportunity before others and invest in whichever coin having best prospect at the time of investment.
1306  Economy / Gambling discussion / Re: Who are the strong candidates who will get this year's Ballon D'or trophy? on: June 13, 2019, 04:14:19 PM
But, indeed in this season there are still players who are statistically better than Messi & Ronaldo.

Can you name a single player who was better than Messi statistically?

First I want to clear that Ballon d'Or isn't given for Football season. It is rather awarded as per calendar year. So the period under consideration will be Dec 2018 to Nov 2019.
Mbappe was superb last year which earned him a spot in top 5 last year. But this year he is pretty average so far. He won't even make to top 5 this year. Then who? Well let's see.
1. Van Dijk: Ballon d'Or is awarded as per weighted average of total scores from different judges. Now here comes the personal judgement of different judges. Some prefer individual performance while some give more importance to team performance. Van Dijk is most successful team performer. However, individually I think he's too overrated. Many defenders had better seasons than him in past but weren't even considered in Top 10.

2. Ronaldo: No! Not his best season. Not even one of his top 5 seasons. Even failed to win Copa Italia. Juventus was winning Series A from last 8 seasons. Nations League is not a worthy trophy to be considered. Statistically he wasn't top scorer in both Series A and UCL. He may make to top 5 but not top 3 this year.

3. Messi: Statistically the best player this year so far and most probably will end as the best player. However, Barcelona had worse season than last. Failed to win Copa Del Rey. But his individual brilliance is enough to rank him among top 2. However, winning copa America can assure his title.

4. Others: Raheem Sterling can be surprise entry in top 5 or even top 3. His team had best domestic season in whole Europe. He's been most instrumental among all his teammates. Hazard also had brilliant season but Europa League winner getting ballon d'or would be disgrace for award. Salah wasn't the best player in Liverpool this season. I prefer Mane over him for top 5.

So my top 5 in no order are: Messi, Van Dijk, Raheem Sterling, Sadio Mane, Hazard/Ronaldo.
1307  Economy / Gambling discussion / Re: Cricket World Cup 2019 Prediction Pool [Join FREE win x BTC] on: June 09, 2019, 04:02:53 PM
I am not sure if Warner helped the team or put them in danger. Warner was playing too slow where he needed to strike hard. Now he is gone and the new batsman is in pressure. Require rate is going up very fast.

Australia needs someone to score very quick to release some pressure from the team.

I don't think there was anything wrong with Warner's inning. He was trying to build a match winning inning but failed to do so. Still Australia have 132 balls to make 200 runs. It is tough job but still possible. Australia have quality lineup and only 2 wickets down.
But being true Indian fan, I havs full faith in Bumrah-Bhuvi. They won't give away too much in last overs like Aussie did in first innings.
1308  Bitcoin / Bitcoin Discussion / Re: Proposed new law to jail Bitcoin holders, miners and sellers in India??? on: June 09, 2019, 07:22:52 AM
I explained about it here:

It's funny how news are sold on internet. These online media manipulate the content and add spices and flavors from their end. This is the picture of draft that was circulated over internet and the reason of this news:



You can clearly read that the punishment is based on the condition. The drafters have used the words 'any of the activities mentioned in clause (e), (g) and/or (h) of sub-section (1) of Section 8'. Hence, drafters are proposing only selective ban, not conclusive one. Trading or holding cryptocurrencies will be considered as offence only if used for activities mentioned under those clauses. Moreover, this is just a proposed draft, final bill comes to effect after passing from Houses of Parliament which is subject to several changes in the draft. So it is too early to fear anything.

But I doubt it will pass according to Pomp on Twitter, because they need to consult with the Rural Bank of India first. A higher chance that passing this law will be unlikely.
Is this a typo or I missed the sarcasm!?  Roll Eyes
1309  Economy / Gambling discussion / Re: It's Official, Real Madrid Sign Hazard! on: June 08, 2019, 06:32:44 PM
Finally, We can now rest. The speculation about the transfer has been going on for far too long.

I'm happy for Hazard, he'd finally the get recognition he deserves, there couldn't have been a better time to move on, I wish him all the very best with his new club.

Yet another great signing for Real Madrid.

It was the best bargain a club like Real Madrid can get. Big clubs usually have to spend big bag of money on players like Hazard. We have seen PSG spending €222M on Neymar, Barcelona spending €120M on Coutinho, although these players don't deserve that much.
But Real getting Hazard for just €100M is too cheap. He is just 28 and playing in his prime. As a winger, he still has 5-6 good years left in him.
After Real Madrid disclosing all its cards, I am now waiting for Barcelona's summer signings. With Frankie De Jong already on board, I think Barca will sign at least one quality forward and defender in summer window.
1310  Economy / Economics / Re: being on the right side of the trend.... on: June 08, 2019, 05:43:39 PM
Even with technical analysis there's no way to know on how long the trend would last. There were times that TAs were correct but there were times too that they weren't accurate.

True. Technical Analysis can tell you the entry point. You just have to predict accumulation phase by studying few past trends and current range, and enter the market. But no chart will tell you the correct exit point. Everyone has different expectations from investment. Some are happy with 5-10% return while some look for 2x. With TA, you can predict that distribution phase has come but no TA will tell you how long will last and when is right time to exit. So TA can show you the path but achieving destiny entirely depends upon your personal efforts. 
1311  Local / Press & News from India / Re: Indian Govt. committee is proposing 10 years jail for dealing in crypto on: June 08, 2019, 03:58:05 PM
It's funny how news are sold on internet. These online media manipulate the content and add spices and flavors from their end. This is the picture of draft that was circulated over internet and the reason of this news:



You can clearly read that the punishment is based on the condition. The drafters have used the words 'any of the activities mentioned in clause (e), (g) and/or (h) of sub-section (1) of Section 8'. Hence, drafters are proposing only selective ban, not conclusive one. Trading or holding cryptocurrencies will be considered as offence only if used for activities mentioned under those clauses. Moreover, this is just a proposed draft, final bill comes to effect after passing from Houses of Parliament which is subject to several changes in the draft. So it is too early to fear anything.
1312  Local / India / Re: Taxability of Bitcoin: A deeper look on: June 08, 2019, 03:25:45 PM
In which  category  it  falls if crypto acquired through selling  virtual goods / virtual games? Does it needs official registration while offering virtual goods / virtual games for crypto?

I would suggest to show such income as Business Income. You can pay presumptive tax under Section 44AD. If you show income under 44AD, there is no need to maintain any books or show any invoicing. You just need to pay 6%/8% tax on your Gross Receipts. Gross Receipt is the total money you received in your bank account from the sales.
As a sole proprietor seller, you need no kind of official registration to sell virtual goods/games if your sale in under 40 Lakh rupees. In case you are earning above that, you are liable to register under GST Act. No other law applies on you.
So, if someone crypto sale can be considered as proceeds of goods sale as well as service? GST limit is 40L for one and 20L for another. Does this consideration require further documentation?

Since sale in crypto is little onerous to track and trails cannot easily identified, I think it is possible to show 'sale of service' as 'sale of goods'. But I wouldn't suggest doing it because Income Tax Department generally ignore service providers when compared to goods providers so it would be better to escape unnecessary inquiry if sale is shown as 'sale of service'. Generally no documentation is required for small merchants like us. The limit of 44AD is Rs. 2 crores. If you fall below it, you aren't required to maintain any kind of documentation. 
One more thing, even if you exceeds GST limit of 20/40 lakh as the case maybe, you can still ignore the complications of GST by opting Composition Scheme. The limit of Composition Scheme has been exceeded to Rs. 1.5 crore. So if your earning is between 20/40 lakh and 1.5 crore, you can opt for Composition Scheme and there will be no requirement to issue GST invoices. Just pay GST at fixed percentage on your total turnover.
1313  Local / India / Re: Taxability of Bitcoin: A deeper look on: June 07, 2019, 05:27:37 PM
In which  category  it  falls if crypto acquired through selling  virtual goods / virtual games? Does it needs official registration while offering virtual goods / virtual games for crypto?

I would suggest to show such income as Business Income. You can pay presumptive tax under Section 44AD. If you show income under 44AD, there is no need to maintain any books or show any invoicing. You just need to pay 6%/8% tax on your Gross Receipts. Gross Receipt is the total money you received in your bank account from the sales.
As a sole proprietor seller, you need no kind of official registration to sell virtual goods/games if your sale in under 40 Lakh rupees. In case you are earning above that, you are liable to register under GST Act. No other law applies on you.
1314  Alternate cryptocurrencies / Speculation (Altcoins) / Re: Cryptocurrency market conditions. on: June 07, 2019, 04:07:49 PM
Does anyone know the reason in these 2 days, why is the market experiencing a sharp decline. Will the red color continue, or only for a moment and then change to green. Give your honest opinion and knowledge. Let's discuss with a cool mind, waiting for positive news.
 Thank you.

It is a general price adjustment, nothing to worry about. The general law of market states that after the exponential growth in the value of security, there is a decline in the value of about 5-10% known as correction so to adjust the over-valued security according to current market demand.
However, it is only temporary. With current market conditions, I can say that Bitcoin will again start rising in few days. There is no negativity in the market, bullish trend is clearly evident. $12-13K in next 30 days is surely possible.
1315  Economy / Gambling discussion / Re: Cricket World Cup 2019 Prediction Pool [Join FREE win x BTC] on: June 05, 2019, 06:40:37 PM

Edit2:
Here we have it! India vs South Africa match:


Congrats to all who got the Margin points, since the regular point was too easy to earn in this match :-P

Vishnu got 4th wrong in the row,  Cheesy
Amazing victory by India. What a wonderful start to the campaign. Go blue!
To many up-downs in the table today. Vennali made a impressive jump by 5 positions. Competition is getting close and tougher.
In the ongoing match, New Zealand is chasing comfortably. If the same things continue, NZ will win easily. Hope it ends as 'Easy Win' for NZ.
1316  Economy / Trading Discussion / Re: Very frustrating on: June 04, 2019, 05:32:03 PM
The problem is the mentality of people towards Cryptocurrencies. 6 out of 10 investors consider cryptocurrencies as a fast earning scheme. They want quick returns. They are ready to buy in pumps, ready to buy on hypes, as far as rate is increasing. However, this make the market vulnerable to crash and dangerous for investors in long run.

I'm sure the coin has great potential. But not as fast as bitcoin growth, they are slow but sure, and will have a good impact in the future.

TRON is a coin which is more dependent on hype rather than real development. Coin is backed by dedicated community and founder which is the main reason why it is one of the top 20 coin. Else TRON is just another altcoin.
1317  Local / India / Re: Help : Tax Advice for Crypto Hodlers ? on: June 03, 2019, 05:59:57 PM
Great. Thanks - perhaps I should have clarified the person sold some amount earlier (what I meant by "barely") and capital gains was paid on it accordingly at 30%. So that leaves me to conclude

1) Crypto-Crypto trades are not taxable, only Crypto-Fiat is.

2) Crypto Holdings are not needed to be declared in IT returns.

Let me know in case I have misunderstood.

Yes. You understood it correctly.
You need to pay tax only if you convert crypto into INR. You need not pay any tax, nor even has to show anything in ITR if you are holding crypto because value of such holding is fictitious and outside the purview of tax.

Also tax on Capital Gain is not 30% in all cases. It is 20% in case of Long term capital gain and 30% only if you made short term capital gains and have annual income more than 10 lakhs. If income is less than 10 lakhs then tax on Short Term Capital Gain is less than 30%.
1318  Economy / Gambling discussion / Re: Instead of Gambling Invest in the BANKROLL on: June 03, 2019, 04:40:59 PM
I agree that only small number of gamblers are actually able to make profits out of gambling but earning money is not the objective of every gambler. Fun element is primary and foremost reason of gambling. So I don't believe investing in bankroll is as enjoyable as placing bets, is it?  Roll Eyes
Moreover, if earning money is actual objective then there are many other options available for investors rather than going for investment in bankrolls. Most of the casinos pay 4-5% return on bankroll at maximum.  Such return is very low in crypto domain when compared to fluctuations in prices.
1319  Economy / Speculation / Re: Correction coming in the coming weeks? on: June 03, 2019, 02:26:59 PM
It's pointless to wait for a correction. It will happen when no one expects it to happen. People were waiting for a bull run, but it didn't happen. The bull run happened when people somewhat gave up on it and expected a slow year.

If you are a trader on a daily / week basis it is not pointless to wait, this is how traders make profit - and this $500 to $1000 ups /downs are a perfect opportunity for taking profits. Real bull run maybe did not happen, but price is more then dubled in last 2 months, this is mean something.

I don't think intra-day buying/selling of Bitcoin can be called trading actually. It is more of the gambling sort of thing

What makes you think so?

I am an occasional day-trader in equity and commodity market. But I find Crypto Market to be very different from traditional security markets. Main reason being the random movements. In case of equities or commodities, it is much easier to predict future movements from candlesticks and charts. But when it comes to crypto markets, most of my predictions go wrong, that's why I consider it to be more a sort of gambling. However, it is my personal opinion. You may be getting better results from day-trading but that's not the case with me.
 
1320  Economy / Gambling discussion / Re: Cricket World Cup 2019 Prediction Pool [Join FREE win x BTC] on: June 02, 2019, 05:13:20 PM
Faf du Plesis has gone and now its time for Bangladesh to dominate the match and take the full control. Getting off one more wicket can ensure 100% win although it's almost certain but as long ass Miller is there, it's risky. He can destroy alone if its his day.
Well Miller is capable to turn the match around. Still the match is not safe for Bangladesh. If they can manage to take one or two more wickets in the next 50 runs then there will be a good chance for them.

If Bangladesh win then only pffrt and webtricks will be able to get some points in the pool. This will be a great shock for rest of us who picked South Africa LOL

Bangladesh is much more composed and complete side when compared to South Africa. I was pretty sure that if Bangladesh is going to bat first, it will be an easy match for them. It seems like my luck was good and Bangladesh got first betting. As expected they scored 330, not a bad score at all. Now SA is quite a bit struggling in chase. They need 45 of 20 balls, let's see if Duminy got those nerves and can complete the match for SA.
I chose Bangladesh will win narrowly, it is pretty looking possible as of now. Looks like I am going to win 2 points today. Cheesy
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