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It is quite volatile currently and thus you made the right decision by selling as fluctuations were affecting you. Now do all the maths on taxes and calculate final profit.
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Here is a update regarding this, I saw in a news channel that RBI and income tax is going to investigate big investments in bitcoins and track if people invested black money there.
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nothing to change bitcoin band in India but we can buy and sell bitcoin this is situation, and bitcoin band or not band matter had gone under govt supervision
Yes, it is hard to predict what will happen in future in India. I guess a lot of politicians might had invested their money in Bitcoins. |
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You should never convert all your money in bitcoin. Only invest 5-105 of your savings so that you are not affected much if you loose the money invested.
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Of course, it can be converted into cash. That is done through exchanges.
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In case this thing happens, one thing is for sure, the price of bitcoin will keep increasing. It can even sky- rocket in such a scenario.
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I do not think this will happen in next 10-15 years. In fact, if the bitcoin prices go down it will also negatively affect other cryptocurrencies.
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This is called as a correction in the price. You need not panic at this point, hold your investment.
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People with traditional thinking will always say that gold is better because one can feel it. On the other hand, BTC cannot be touched or felt.
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you can use the following websites to calculate your earnings based on hashrate, difficulty, price, cost,...: https://www.cryptocompare.com/mining/calculator/https://www.coinwarz.com/calculators/the things to keep in mind is that for mining bitcoin you will need an ASIC which may not be easy to buy everywhere. specially if you want the latest. and with it you can mine bitcoin and those coins that can be mined with ASIC. but for mining ethereum you need graphic cards (GPUs) and that can be bought anywhere. and with it you can mine a lot of different altcoins. additionally you have to consider your electricity cost, cooling, difficulty rise, price drops specially in altcoins, and other possible factors like for example ETH moving to PoS which means you will no longer be able to mine it. Isn't the ASIC available on online stores ? How are people mining the bitcoins currently ? |
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What is the next big cryptocurrency? Is there any option that has the ability to give returns as much like Bitcoin ?
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Which is best for mining, bitcoin or etherium? I am from India, where can I buy the equipment from and what will be the set up cost ?
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Is there any website for rates of Bitcoin by popular Bitcoin exchanges in India? It will make comparison a lot easier , thus we can choose exchange easily for use.
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We know that cryptocurrencies are still in their initial phase and thus exchanges are also quite new. At such, what are some of biggest hurdles that startup bitcoin exchanges in India face?
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Is there any bitcoin exchange in India trades on live international rates? I am asking this because most of the exchanges are charging about $1000-$2000 more than international price.
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What is the procedure to create my own Bitcoin Exchange business in India? What will be the total expense involved in all the procedure ?
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To earn from a signature campaigns you need to have following:
1) You should have higher member levels on this forum.
2) Some of the campaigns have post requirements as well.
3) You have to make meaningful posts during the signature campaign so as to get paid by companies.
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Getting such currencies regulated by Indian government is a big task. However, it is expected that government may take some decision regarding cryptocurrencies in India.
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There are no signature campaigns for newbie. As you gain higher levels on this forum, you can apply for signature campaign. If accepted, you will be paid for the signature.
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More and more people are already investing in bitcoins in India. Let us see if government also legalizes bitcoins in future.
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