Is it possible that crypto will become stable when mass adoption occurs? I'm not saying stable like USDT I'm saying stability/bottom minus huge or massive dumps that we are all used to when bear market strikes, I know everyone can't be a holder but if crypto eventually achieve its dream of means of payment there will be more stability in crypto market, am I wrong?
Mass adoption of 11000 currencies would obviously never occur, Mass adoption would obviously involve just a few hundred currencies, and the rest all could be categorized as small-cap currencies which would still be prone to manipulation and massive pumps-dumps, but the top 20 currencies would stabilize a lot, their daily movements would be capped up to some extent and would move too much only due to effect of some good or bad news, By adoption, I don't only mean more people accepting cryptos but I also mean equitable distribution of existing cryptos where it's not only the whales who control everything or there are multiple opposing groups of whales which can counter balance effects of each other. |
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A lot of Indians are curious about Pi Cryptocurrency. Especially those who are new to the crypto world. The most asked question is "Is it another fraud?" Here is my reasoning for Pi as legit crypto. https://www.blognox.com/pi-cryptocurrency/Is it acceptable? Your views, please. I had never heard about this project until today. I am not sure what technology or product will be driving the demand for this coin. When half of India still believe that Bitcoin is either a Ponzi scheme or a get rich quick scheme, In such a scenario, you are selling a coin that does not have any utilization, how do they plan to sustain it for the long run? My opinion is that it is another short term coin trying to capitalize on the present market condition until they can and then bye bye users. You are right on point here. Cryptocurrency is gaining traction yet many people in India think it will lead to a scam. Indians are still hesitant when investing in cryptocurrencies and so investing in a token which is good for nothing is far from the league. Besides that, even Poly network faced the biggest hack recently how can we trust Pi network to be so secure. For the time being, Pi network is surely going down the drain unless it has a vision, utility and a working product. Actually, that is not the case, I have been in touch with some newbie crypto investors, and to my surprise they are quite interested in these new projects, they think these coins can beat bitcoin/ Ether because they are told so. Actually, these companies hold seminars in cities inviting people to showcase their coin, they say that they are here to make all of you millionaires, they give a few negative points about the bitcoin fees and transaction times and then show that how their project is a better alternative than investing in BTC/ Ether, and people are giving their hard-earned money to these people, I went to the seminar and even met people who have invested ₹5 lakhs in these projects. |
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This is how a fund may operate
1. The Bitcoin Fund raises its funds from investors in return for a share of the scheme's profits.
2. The Fund would then buy up assets that would go up in value (like NFTs and cryptocurrency projects)
3. As time passes, the value of those assets should rise, increasing the value of the Fund's shares.
4. The Fund would then sell off the assets, giving the investors a return in the form of dividends while allowing the Fund to repeat the cycle.
This model is inspired by REITs (Real Estate investment trusts) which make their investors a return via dividends and capital growth.
It may be flawed due to the volatility of cryptocurrency projects and the relative difficulty of verifying whether a project is legit.
Maybe the Bitcoin Fund could be backed by something more trusted like a Bitcoin reserve or even gold in the event of major losses
like a project turning out to be a scam or the crypto market going into a fall in demand.
I don't know if you are unaware of it or what but we have a lot of Defi projects which work pretty much this way, but the only major difference is that there isn't any single fund manager which decides where to invest the whole fund instead it's based on a decentralized consensus. In fact, we have even better models now which focus on yield farming which means investing directly where there is most yield, therefore, ensuring maximum profits, however, the caveat in cryptocurrencies is the impermanent loss, you might gain double times the BTC, for eg. you might get 2 BTC after investing 1 but the problem is if the price of BTC falls thrice then the returns are pretty much useless. |
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Well looks like India took the insult of 78 runs very seriously and today once again you can see a whole new team batting in front of English bowlers, I don't know if it's about the pitch or what but India has bounced back slightly, at least they are giving signs that they won't give up that easily. Top Order has performed really well, but the problem is for even drawing this match India has to bat at least 120 more overs and make at least 300 more runs to at least give England a target of 200+ and just two sessions to bat. But this is very hard, India has to spend the whole day tomorrow batting in the middle, I still think this match is 90% in England's pocket unless we can do a miracle just like Shami and Bumrah did in the previous match.
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I'm now realizing that on-chain analysis is a must to watch when it comes to understanding how this market is moving, but the number of parameters that are shown in various sites just got me easily confused.
So, in the shoes of a short-term trader (my timeframes range from daily trading to weekly trading) that, however, wants to get information about how the market is going to move in this period (this is, instead, more like a mid/long-term view), which are the parameters you check the most and you retain the most important?
P.S: Which on-chain analysis website do you retain to be better?
I think the only good site for on-chain analysis is cryptoquant.com. They have some good analytics for traders, the simpler ones are free, the more valuable ones come with a monthly subscription, but I have felt some of the most important ones are 1. BTC./USDT on exchanges vs BTC/USDT on Private Key wallets (Called All exchanges Reserves & Netflow) : This gives you a hint whether miners have brought in their BTC to sell in the market or they have brought in USDT to buy some BTC or Alts. 2. Miner Flow: Generally miners are considered whales in crypto world so tracking their movement makes a lot of sense and gives you an idea about the whale action. A few people also create indicators using this data, you might try that too but what will fit your trading strategy will obviously come with some hit and trial. |
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There are something which I have started disliking about Binance. First of all it has now started forcing every user to complete the KYC process. Understandably Binance is a big exchange and their are certain coins that are only listed on it. In one way or another you are now dependent on Binance. But with KYC being made compulsory I think I have to switch over to either Kucoin or Huobi.
I think the problem Binance is facing is money laundering, they have been subject to a lot of cases around the world relating to money laundering and most of the time they aren't able to answer the questions of the authorities relating to ownership of money because non-KYC wallets were able to withdraw around 2 BTC daily which is a huge amount. Therefore to safeguard themselves they had to do it, had no other choice, other exchanges too sooner or later have to move towards this path, after the big exchanges like Binance and FTX are done these authorities will come down to these smaller exchanges too. |
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We saw threads where discussions sparked about how will the poor take the advantage of crypto and all of them limit their thinking to what will happen if BTC skyrockets. There were lots of great answers, but we have a different approach here in this matter. Even if the poor believe that they have missed the BTC train, why don't they spread their vision and look around?
We have:
+ NFTs (we know about one user who sold an NFT for $60k that he won for free - a life changing experience)
+ DeFi tokens (liquidity pools, staking, farming are all giving huge returns for small investors)
+ P2E (Play 2 Earn is another way to make money by playing games online and getting tokens or NFTs as rewards, some games have different types of rewards)
Actually, the problem is all this market has offered so far is speculation, NFTs are speculation, I am sure at least 50% of people will regret their decisions next year, Defi too have become more or less a tool for speculation, the impermanent loss during the bear run would be so high that a lot of people would actually regret staking at very high prices, while P2E token isn't something that is possible only due to blockchain, you can create such tokens without blockchain too without many hassles. But the main thing is utility tokens for example tokens like BAT, which are paving the way towards Web 3.0, KYC-based tokens are actually something that will give blockchain and cryptos a really good reputation. |
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But still all out for 78, no tactics would have been decided for total this low. Maybe India became quite overconfident after their first win. As of now England have scored 107 for no loss, this match looks like a completely one sided affair now, even if England manages to score something around 300, it would be impossible for India to bounce back in the match unless they score some 500 odd runs which at pitches of England against attack which bowled you out at 78 is impossible. It might be too early to say this but Series is now back into play I think and India's hope of a clean sweep look completely shattered.
England players received criticism from all quarters following their defeat and failed tactics in the first test match. So they made sure that complacency is not a part of their performance this time. And the Indians were slightly overconfident. Look at the way KL Rahul and Rishabh Pant got out. They wanted to continue with their T20 style and unfortunately that batting style was not suitable on conditions which were favorable to the seamers. Now in all probability, this match will be over in three days and the series will be tied 1-1. See how fantastically England have batted on day 2, I think England have already score enough runs to ensure that they don't have to come in to bat again, even if they bat until the end of the day today, there is absolutely no way that India can even Draw the march forget about winning it for a moment, it looks as if there were different Indian and English teams in the previous match and are absolutely different in this one. |
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But still all out for 78, no tactics would have been decided for total this low. Maybe India became quite overconfident after their first win. As of now England have scored 107 for no loss, this match looks like a completely one sided affair now, even if England manages to score something around 300, it would be impossible for India to bounce back in the match unless they score some 500 odd runs which at pitches of England against attack which bowled you out at 78 is impossible. It might be too early to say this but Series is now back into play I think and India's hope of a clean sweep look completely shattered.
Test is the most unpredictable format of cricket. The situation of the game can turn at any session of a day. But the probability is very low for India to turn this game condition on their side. Batting performance of Indian team was pathetic. After the end of day one England batsman has scored 120 runs without losing any wickets. This game is fully in favour of England now. I know it's unpredictable but after all players are humans, when you get all out on first day at just 78, no matter what, whenever you come back to bat again, that fear looms somewhere in the back of your mind which doesn't lets you bat well, not all 11 players will be able to beat this fear, making a very big score looks pretty unlikely to me as of now. |
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We often notice rich people become rich day by day. It's no different for Bitcoin as well. Because we can see the most benefited person from Bitcoin is big investors, mean definitely they are rich. If you agree with me then why do you think most big investors are gainers and why most small investors can't gain.
For me, I think financial stability works behind our success in life. So same goes for Bitcoin investors as well. The rich person could invest for a long time. He doesn't have problems even he doesn't sell his holding even during very bear markets. A financially stable person even could hold 10 years. But like us who are small investors, we aren't stabled financially. As a result, we don't when we have to sell our holding for need. That's how we become losers even we intend to hold for a long time. I am a real example of that recently.
Do you think financial stability is mandatory to be a gainer in Bitcoin investments?
Obviously, no matter how much we talk about percentages, a person with higher capital is actually earning a huge amount, 20% of $1000 is barely $200 while 20% of 1 million dollars would be equal to $200k, and also the effect of compounding also doubles up the gain these investors make. Secondly, talking about financial stability, I have always recommended people should invest in cryptos what they can easily afford to lose, it's only because of that fact because you might need to sell it at very low prices someday when you urgently need the money, therefore making it more or less unprofitable, Big investors make portfolios, they spread up their investments in different sectors and different crypto which definitely is a more organized and structured way of making investments, but yes the biggest thing especially in crypto space is that whales make easy money because they have access to information that a retail investor doesn't, also they operate most of the times in cartel making it even more profitable. |
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A lot of Indians are curious about Pi Cryptocurrency. Especially those who are new to the crypto world. The most asked question is "Is it another fraud?" Here is my reasoning for Pi as legit crypto. https://www.blognox.com/pi-cryptocurrency/Is it acceptable? Your views, please. You have to be a complete crypto rookie to think Pi is successful, a currency which had pretty much the similar idea and concept was Electroneum which came in 2017, it got a lot of steam initially but later people realised that mining it using your hardware isn't that profitable and the lock in period sucks the most, imagine doing sheer hardwork of mining it for 4 years and at the end of it you don't even have an exchange where it is listed. Also the biggest problem with such coin is the utility, only because people are mining it doesn't makes it a good coin, what's the utility of all the coins that get mined? You have to be crypto rookie to think that an altcoin can beat bitcoin, you have more than 11000 listed Cryptos. |
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Indian team all out at 78. The world's best batting line-up falls once again. Another below hundred score. India's batting performance was below average and pathetic. It was a brilliant and dominating performance by the England bowlers. A great bowling attack by the English bowlers, in particular Anderson, who picked up 3 wickets at the top of the order.
LOL.. I was actually expecting this. The England team was left humiliated after their debacle at Lords. There was a lot of criticism, especially towards the tactics by which the English bowlers allowed Bumrah and Siraj to build such a huge 9th wicket partnership. They got carried over by emotions. No such display today. They sticked to the gameplan and ignored the provocations. James Anderson took the three most important wickets in his opening spell, and essentially for India it was all over by then. But still all out for 78, no tactics would have been decided for total this low. Maybe India became quite overconfident after their first win. As of now England have scored 107 for no loss, this match looks like a completely one sided affair now, even if England manages to score something around 300, it would be impossible for India to bounce back in the match unless they score some 500 odd runs which at pitches of England against attack which bowled you out at 78 is impossible. It might be too early to say this but Series is now back into play I think and India's hope of a clean sweep look completely shattered. |
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Honestly speaking it's a well-known fact today that almost all the companies are doing some development into cryptocurrencies or at least exploring blockchain as a technology to streamline their processes, I don't really think that merely because Wallmart has a job opening for a blockchain Director that is why Bitcoin has pumped up in price. Some people like to reason the price rises but I think the market flows quite freely and away from all these speculations, at best this speculation can bring a one-time move of 400-500$ and that's it. Also one can assume that they might be starting to accept cryptocurrencies while one reason could be that they might have decided to start using blockchain to store their store data and transactions. Blockchain is a beautiful technology everyone wants to lay their hands on.
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Are we guys still discussing this? I think this was a move by Vitalik to cater two things, 1 to get some good points by donating into the Indian crypto fund while at the same time completely wasting the strategy of these shitcoin owners to burn their supply and increase their token price by creating demand surplus supply deficit situation, even though this money isn't converted into fiat so far, but the day it will be done most of the shitcoins would see a major dump on that day which might never recover up. But as of now with Second wave already passed I don't think there are a lot of chances that these would be converted to fiat.
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Only 1.2 overs were bowled and the game was stopped then. The filed wasn't suitable for playing. The first session of day 3 is wasted. The match is continued now, but we shouldn't expect anything else than a draw from this point. And I agree with you. A reserve day will be helpful in these cases. ICC should implement the reserve day for each test game like they used it in WTC final match. It was effective too.
There is no need for a reserve day. The delay here was not caused as a result of rain. The delay was resulted from the inability of the ground staff to keep the ground properly covered. And this has occurred on a regular basis in the West Indies, although it is almost unheard in any other country. The ICC should take note of this and issue a warning to the WICB. I feel bad for the Pakistani batsmen, as they were in a good position. If play gets delayed further, then in all probability this test will end in a draw. The condition WICB is in, I really don't expect that they will care about these petty issues, even ICC knows the condition of WICB, so they won't issue any warnings to them and the way how new countries aren't interested in cricket I am sure ICC don't want to remove another test playing nation from the list. A warning obviously must be there for formality but I don't think it'll change a lot of things. By the way, after the session is wasted I think Pakistan lost their momentum completely and the result of that is in front of us after the collapse of top order even the lower order collapsed quickly, Fawad Alam is batting like a one-man army. But let's see how far can he take the team. |
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A friend of mine bought a small amount of Bitcoin some time ago through Localbitcoins without KYC. As of today they have turned into quite a few thousand $. Apart from that, he has also bought Bitcoin on Coinbase.
We were discussing whether it would be worthwhile to continue holding non-KYC bitcoin, because if the price continues to rise, in the future he may have accumulated $100K or more of which he cannot justify the source.
One way to launder it would be to go to non-KYC ATMs, withdraw cash and that same money invest it in Bitcoin in Coinbase. This way he would end up having the same amount of Bitcoin but he would be able to justify the origin of everything.
The problem with accumulating a large amount of money in Bitcoin that you cannot justify is that if you want to use it, it will have a cost as well. You will probably have to hire a lawyer or a tax advisor, you may have to go to a tax haven and/or set up a company to launder it. All this has an economic cost as well and I think it is better to launder it now easily. You'll also sleep better.
I know some of you on the forum are big fans of privacy and non-KYC and I would like to know what you think about it.
Just like the enormous bitcoin, how will you justify the excessive cash deposit into your account for buying the cryptocurrencies? Technically the best way is to declare some income every year so that the whole burden doesn't fall on you in a single year because chances are by hook or by the crook government will collect the tax on bitcoin at the end of the day so it's best to have some safeguard, this way you are saying is really bad, you might not fall into suspicion by declaring cryptocurrencies but by declaring cash you will definitely be under scrutiny. |
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What is life without law, how would the society be like without law. Would society still exist, take a look at all lawless act committed by individuals in the society, robberies, killings , corruption and so many bad act. Even with laws all this atrocities are being done as if there's no law. people are not been scared to commit crime in the society. They do not care or think of the consequences or result of the crime been committed. People enjoy lawlessness. How would this world be without laws , can it exist.
I think a lawless society is nothing less than chaos, basically, we will be living somewhat like how our ancestors used to live. Humans created religion for the need of some norms in the society because they knew that we need something to control the evil desires inside any human being, therefore these people started frightening common folks with the idea of a superficial being watching all of us from heaven and punishing us for our bad sins and also gifting us for our good deeds later when humans developed weapons they created kingdoms and later countries where norms were crafted into laws so that these evils can be controlled. Idea of a lawless society is actually crazy because honestly you cannot expect 7 Billion people to have a similar kind of thinking. |
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Well, what I heard about the reason for the crisis in Venezuela was pretty simple, it was the oil pricing going rock bottom due to global supply increase as well as later due to onset of covid. In this situation, while the expenditure of government was pretty high, the incomes and foreign exchanges of the country shrank a lot leading to a terrible fiscal deficit for which the country had no option other than to print a lot of money and therefore leading to this hyperinflationary scenario. Very simple speaking there is no way that this fiscal deficit could be filled until there is an increase in oil prices once again, but even then there could still be issues with the Venezuelan currencies, I think it's just another Zimbabwe in making.
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Actually, the very basic reason why newbies are losing money in cryptocurrencies is that they think of this as a get-rich-quick scheme. They think just like anything they will a secret token whose value would go 20x tomorrow and put all their money into just that one token and then these people complain about losing money. It's obvious that if you would make such foolish choices you will end up losing money. Also, some unprofessional try trading thinking that trading is just buying and selling, these people saw a couple of videos of some so-called trading gurus and now think that all they have to do is buy low and sell high and that's it. They absolutely forget that the basic essence behind trading is to find how to buy low and sell high. If you make a proper investment in cryptocurrencies, dollar-cost averaging your investment, there is no way you can lose money in it.
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These are actually pretty modest numbers, in India, I can vouch that every single person wants to invest their money in cryptos, they want to just throw their money in any coin they find, and if someone says that this shitcoin can make your money 10x, they will just blindly put all their life savings into that. Not only the young generation even the middle-aged people are realizing cryptocurrencies as an investment option, I have seen around 10 ICO projects which are undoubtedly nothing more than a scam in just the past one-week holding seminars in my city promoting their shitcoins, the only bad thing I see here is adoption isn't growing in terms of crypto as a currency which really is a matter of concern.
That can be a good breeding ground for scams, people just wanting to invest money into crypto is going to definitely make for some malicious minds to get in and try to con these dumb and innocent people who just wants their lives to become better. Might want to put an action and educate your fellow Indians that not every coin is worth investing for. This is true, this already has become a breeding ground for scams, in fact I have multiple people in my acquaintance who have invested their hard-earned money in these shitcoins, now the worst part is that a few of these shitcoins have made their tokens locked, which means the supply would get unlocked at some future date which means even if you become aware of the foolishness that you have done you just can't sell because they have locked the tokens. I think these scams will be the reason why our government might end up banning all kinds of cryptocurrency projects. |
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