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The forum has a big gambling community and since the forum no longer accepts advertisement these casinos use signature campaigns to promote their platform. In a way it is cheaper than advertisement on other platforms as they already have their target audience active here. On other platforms they need to spend money regardless of their ads reaching the target audience.
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Honestly this is madness, I was going through the tax structure for this niche and found out the full details.
1. 28% GST.
2. 10% platform fee
3. 30% TDS.
So, if someone wins INR 100, they would first pay INR 28 then INR 10 and then INR 30. Out of 100 rupees a user is left with 32 rupees. They as in the government has destroyed online gaming industry. Meanwhile the Blockchain gaming industry is going to $65 BN big by 2027.
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For the rich and wealthy, gambling could easily be something done out of fun or leisure but, when it comes to people who see it for a means of earning there daily bread, it easily feels like an only chance or means to a survival.
Sorry if I didn't get this right, but are you suggesting that reach people are more immune for addiction? If my interpretation is right then I have to disagree with what you said. I don't have exact numbers but I believe it's actually the opposite which is right. Wealthy people are more prone to all kinds of addiction not only gambling addiction. They spend more time playing because they can afford to do so which makes them subject to addiction and they won't realize it till they start running out of money. Rich people mostly get into addiction as a result of experimenting each and everything available for enjoyment. They never think about money and that's the reason for their addiction. Rich people have a winning mindset which is also a reason why rich people get addicted easily. The good money they hold doesn't let their life get hurt, but with the common man it is something hard as he doesn't have much to spend. I have to disagree with you guys on Rich people getting addicted. Those who are rich don't have the time to get addicted in any other thing than money. They spend literally several hours only to mint money and buy lesiure with that money. They won't spend their time & money in gambling. Only people like us spend money on gambling, we start with the believe that we will double our money and what happens next is known by everyone. That is partly true in the sense that most rich people do not have the need to gamble and when they do they know what they are doing and most of the times do not get addicted.However there are certain rich people who may fall in love with gambling and then we all know that they ruin their fortune through gambling,this type of people is far less than the ones who know what they are doing but they exist too and when this type of people become addicted it is a very very bad situation for them,they end up losing everything in gambling. Let's assume a Rich guy gets addicted to gambling. He wont remain rich anymore as he would spend his time & money in gambling. It is hard for me to digest this situation as when he is already gambling everyday with his business to make it more profitable, why would he even gamble in a casino. I don't see any point with your reasoning. Rich people don't gamble with thier money they make us gamble to become rich. |
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The poll shows Sports betting is the most played game followed by dice. I wasn't suprised with the result as a lot members are very active on sports thread. Regardless of the outcome, dice is a simple game of luck which is why most of us love playing it. I was hoping the same kind of response for coinflip. It seems none of the members are playing it as per the poll results.
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For the rich and wealthy, gambling could easily be something done out of fun or leisure but, when it comes to people who see it for a means of earning there daily bread, it easily feels like an only chance or means to a survival.
Sorry if I didn't get this right, but are you suggesting that reach people are more immune for addiction? If my interpretation is right then I have to disagree with what you said. I don't have exact numbers but I believe it's actually the opposite which is right. Wealthy people are more prone to all kinds of addiction not only gambling addiction. They spend more time playing because they can afford to do so which makes them subject to addiction and they won't realize it till they start running out of money. Rich people mostly get into addiction as a result of experimenting each and everything available for enjoyment. They never think about money and that's the reason for their addiction. Rich people have a winning mindset which is also a reason why rich people get addicted easily. The good money they hold doesn't let their life get hurt, but with the common man it is something hard as he doesn't have much to spend. I have to disagree with you guys on Rich people getting addicted. Those who are rich don't have the time to get addicted in any other thing than money. They spend literally several hours only to mint money and buy lesiure with that money. They won't spend their time & money in gambling. Only people like us spend money on gambling, we start with the believe that we will double our money and what happens next is known by everyone. |
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So personally, I would never gamble all my Bitcoins just because my government has banned Bitcoin but I would hold them in a non-custodial wallet and keep them for as long as I can because maybe some day in the future, I get to use them somewhere that might benefit me in some way.
There is no sense in gambling all the funds inside our wallets just because the government are planning to ban bitcoin and the use of other cryptocurrency, if that is what the people are thinking, I don't doubt why they are losing frequently because they have that kind of mindset. We always have a choice even though our own government is banning the existence of bitcoin, we can still go back to the basic and gamble like nothing happened. I believe those who just gamble all their bitcoin for the fear of government banning it in their country are all ignorant of how to store or save it for the future because if a current government ban it, succeeding government can change the ban and you start enjoying the increased btc value because the price will not be stable from what it is then . Indeed, those individuals do not have any idea as to how to hold on to thier Bitcoin. Infact it isn't possible for the government to ban Bitcoin. To ban it you would need to ban the internet, which is a highly unlikely scenario. Considering without the internet is part of day to day life in the 21st century. |
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Volume would be a big issue considering the number of active users on our local board. At the most we have 5 to 7 active user here. After the last bull run the traffic on Indian board had gone down. After the new tax law it has dried down completely. Maybe by next bull it might again go up there is a possibility that it may not.
The overall user count of bitcointalk has gone down relatively while comparing to the 2018 bear market. There may be many factors associated with this, ranging from users moving over to Twitter where we get first hand information at a faster pace or they are unwilling to reveal themselves after the scrutiny created by the Indian government. Back when Benson Samuel was moderating the Indian board, we had a huge traffic and everyone were interested in getting involved in discussions but nowadays the active member count has gone down drastically and the remaining users like us are in the dilemma or receiving suggestions to improve the board's traffic count. r/BitcoinIndia, the subreddit dedicated to discussing about Bitcoin in India and the one which I am moderating has risen from a member count of 5k Bitcoiners to more than 110k right now. May be, we should bring all the like minded Indian crypto communities under one bigger umbrella for carrying out discussions. Thoughts? Since you are a mod on that subreddit, you can surely create a poll on that platform whether members would be interested in doing P2P transactions on the local board marketplace. Some of us might not be interested due to lack of anonymity but others might. According to the results of that poll we can then think about the T&C. A telegram channel is also trying to find ways to do P2P transactions securely. It is a small group of 1000 odd memmer. A few prominent BTT local board members are part of that channel. I can ask them if they would be intrested in such initiative. |
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But its not bad trying to throw the advice outside maybe some of the addicts can still grow a mind from the constant advice given that can help them withstand this habit of theirs and moreover I have seen someone who have discipline himself to actually reduce his gambling act because of the huge losses and problems he had to encounter.
Every addicts believes that he is not addicted so asking only the addict to follow the advice doesn't work. I think every gambler should follow the OP advice and it will surely work. As those advice have been recommended by everyone one on this board with numerous thread. Some active members have been able to get results from those points. |
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Volume would be a big issue considering the number of active users on our local board. At the most we have 5 to 7 active user here. After the last bull run the traffic on Indian board had gone down. After the new tax law it has dried down completely. Maybe by next bull it might again go up there is a possibility that it may not.
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One of the most hated projects on the forum & especially on the local board, suddenly has overtaken Cardano on CMC to become 7th highest market cap crypto at the moment. I understand the frustration of many early adopters but the team is now doing the right think. Please do not consider my reply as a shil. I guess this might be right time to grab a few SOL before the next bull run.
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I personally think that the Indian board should have a P2P thread open in case they have something to trade.
Its better to trade with trusted people than to trade on other P2P channels like Binance P2P.
The chances of getting scammed or account frozen are relatively high on other platforms than on this thread.
Only active Indian board members will be allowed to trade on this thread.
I want you guys' suggestions so that I can convert this thread to a P2P trade channel. Otherwise I will just lock it up if nobody is interested.
We already have marketplace in Indian board where we can create a thread for buying or selling anything including crypto. I don't think there is many traders from India here anyway. Mostly newbies trying to trade. Without escrow nobody should and would trade with these newbies. P2P platforms like Binance are much safer when you trade with anonymous people because they have verified their profile. If any scam occur, matter can be reported to them and they can take action against the scammer. Marketplace section makes sense but is Binance P2P really that safe though ? I think I have read somewhere that people's bank accounts were frozen because the money was coming from an illegal source. I don't have the link to that post handy or may be I read it on other platform. Binance P2P is the worst place to trade as there are too many scammers buying cryptocurrency and paying scam money. Avoid any Indian P2P at the moment if you do not want to get your bank account frozen. As @Heisenberg_Hunter said forum P2P is a bad idea because it will reveal everyone's identity. We are here because we love anonymity and through it we have build a trust around us. |
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I agree, since gambling became quite popular and a lot of money came into it, since then the results are often very unexpected. I even want to try to bet some time only on outsiders, but I just don’t have enough time to do this and analyze my experiment. The problem is that the bookmaker sees all the bets before the start of the event and this gives them a huge advantage. It seems absurd, but we can allow fixed matches, and in tennis it's even easier.
Sports betting has become very competitive and unpredictability has been rising that is correct but if you know which sports to choose you can succeed too. The best sport to bet on is soccer if you follow a single league then you can make some profits from others. It is not easy to follow multiple leagues if you do not have much time. Although doing analysis can boost your confidence if you cannot then you need to follow the game thoroughly. |
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.It is better to simply ignore them and if they try to confront you about it you just tell them that is none of their business, in my experience this will irritate them to the extreme and will demonstrate to anyone who cares about watching this that they were just looking for a fight with you and then they will ignore anything they said about you.
The more you ignore them the more you would become vulnerable to their hate. It is better to find their weakness and then downgrade them infront of everyone. In today's time everyone has some kind of addiction. You can use that as a weapon to defend yourself rather ignoring them. No one is a saint in these times. If we do that, maybe there will be a grudge against them later that they will have to avenge because we already attacked their weakness so they will think of another way to attack us again. It will never end because they and we will be involved in an unbroken circle and continue like that until one of them gives in. Letting them say anything about us is also doable and lets people judge who looks for faults or problems. And if the people around us really know who we are, they also won't mind people who talk like that because they won't believe it. I don't think they will attack again as they would now know that I am not vulnerable anymore. They think twice before making another move, which will result in both parties ignoring each other. If you don't react then you will always face such situations in the future. No one cares if your sad but everyone envy you when you are happy. Ofcourse I am not talking about our family. I am referring to friends, colleagues & passerby. |
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All of these methods require experience, knowledge and intelligence in carrying out analysis, except for gambling, because in gambling, only luck determines how you can win.
For those who are experienced, I believe they will prefer to trade and invest to be able to make more definite profits and only use gambling as a place to seek entertainment.
But unfortunately not a few people also use gambling as a place to make money even though they are aware that there are risks that will always come at any time and to beat the house edge is impossible.
I haven't seen a lot of people making tons of money through by getting lucky while gambling. To earn money you need to work hard and hard work nevel fails anyone. Gambling cannot be considered as a source of income, it is a source of entertainment. You can only earn money when you learn those skills that you wrote and work hard on achieving your goal. When you get bored do something that you love or gamble online. But indeed in gambling, luck is the main factor that can make gamblers win, whether it's a big win or just a small win. Without luck you will only be a gambler who always deposits money without winning. In gambling what kind of hard work do you mean? Nobody works hard in gambling to make some money except for casino managers. By hard work I meant a day job as only through job you can have a steady income. Gambling doesn't require hard work, it does need strategy, discipline and luck. You cannot control luck but you can work on the strategy & discipline part. Once in a while after losing a good amount you luck would strike. At that time you might be able to cover you past losses or you might make it big. |
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The amount of the budget for gambling must also be as minimal as possible. because it is only as entertainment not to seek a large return. If someone continues to expect a lot from gambling, they have probably already lost quite a lot at gambling. Gambling and investing really have to be separated, because if you don't separate the ongoing investment it will be disrupted when the gambling loses and requires other funds to make another bet. In the end investment funds will be cut. then do gambling as entertainment so there will be no burden and no games that are too big.
Minimum budget? When you gamble you can forget that. It will always increase gradually to recover the loss. Everyone does keep aside an amount for gambling but as always that amount always increases. It is not that easy to maintain the budget. There have been occasion when you do dwell into your investment money. If you are an occasional gambler then you can maintain your minimum budget otherwise forget it. |
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The worst part about these series usually are the fact that they are old news, you end up seeing stuff that are from the past and you are will know the future and what happens after the movie ends. I mean you can't shoot a movie in a month and release it, usually that's a youtube video and you can do daily youtube videos if you want but then it's not going to be a docuseries, plus after it ends, time will pass until people see it, you are not going to get everyone watching it on release day neither, some of these videos are years old.
It means that these grow old very quickly, bitcoin world is not same from one month to next one, how could we see years old documentaries and think that these are going to be relevant one way or another.
Agreed with your point of view but without knowing the history you cannot analyse the present situation. Last year Netflix had release a documentary: Trust No One: The Hunt for the Crypto King. It was on Gerald Cotten the founder of QuadrigaCX cryptocurrency exchange. Many here might not have heard about this guy and how this exchange was the reason a lot of investors lost thier funds. This incident gave a major boost to Not your Keys, Not your Coins slogan. |
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This happened because the GST council has decided to cut GST rate on food served in cinema halls to 5%. Which according to me is a good initiative. Earlier, the GST rate was 18%, which was the reason why cinema hall tickets would cost less than the food being offered there. Whether the Cinema hall owner reduce the food price after this reduction
of GST rate is still debatable.
Now, they need to balance the inflow of revenue therefore 28% GST rate has been imposed on online gaming, casinos and horse racing. I am okay with the tax being implemented on casino & horse racing. Why is the government targeting the online gaming industry is not clear to me. This means a lot of play to earn crypto projects will see reduction of Indian players in the coming months.
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.It is better to simply ignore them and if they try to confront you about it you just tell them that is none of their business, in my experience this will irritate them to the extreme and will demonstrate to anyone who cares about watching this that they were just looking for a fight with you and then they will ignore anything they said about you.
The more you ignore them the more you would become vulnerable to their hate. It is better to find their weakness and then downgrade them infront of everyone. In today's time everyone has some kind of addiction. You can use that as a weapon to defend yourself rather ignoring them. No one is a saint in these times. |
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That means social media managers must be able to provide filters for all their users and only allow users over 18 years of age to view gambling or other adult advertisements. And the ad filter must be able to provide its features to all users so that they can filter the ads they want to appear on their homepage. Maybe the government can give this advice to social media managers because the only ones who can do this are the social media managers themselves. After doing that filtering, it is hoped that ads that are not suitable for users will not appear on their homepage.
yes there should be. However, in reality, today's children are able to make their own settings, which sometimes don't match what their parents expect. Meanwhile, on several sites, online games, or YouTube, gambling ads continue to grow and are very easy to find. This looks really promising for these young people. In this case, parental control is indeed important, but we as parents also cannot control it for 24 hours straight and monitor all activity on the device in real time online 24 hours a day. This is indeed a challenge for the online world that continues to grow. Indeed, he hopes that the government will automatically block advertisements like that in this country. Yes as parents it is not possible to monitor your child 24/7. With technology you can do it but that might sounds like invading the privacy of your child. The parent needs to establish whether they want to put a surveillance on their child by checking the environment they are part of . I mean the friends the child has and what they are generally do in the lesiure time. Technically monitoring is possible if you know how to use the technology. |
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Thats probably because of RBI hidden agenda to screw over Indians and make their CBDC not much different from SEC's agenda to screw over Americans except we gotta pay 30% Tax on our profits while cuntries like malaysia indonesia thailand etc have 0% taxable income on all crypto profits
If your earning from cryptocurrency is substantial then it is better to leave India. Many have left for Dubai and after you pointing out Malaysia & Indonesia I imagine many would move into these countries too. They both are similar to India but they want their citizens to rise above poverty. Whereas India wants its middle class to become poor and that might be the reason they implemented tax without regulations  |
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