In my locality maximum people are losser. A few people has gained in gambling. But who has entered in gambling never give up actually. In anyhow they manage money and placed bet. Actually how many percent people overall gainer in gambling? Betting sites day by day gradually getting richer. The Owner of bet365 is one of the top richest person in England.
I am sure people in your area are gambling to becone rich. That's when Greed becomes a factor which further encourages you to place more bets even after loosing. I have seen couple of addicted gamblers in my life and while speaking to them I have sensed extreme greed for money. That's when it leads to addiction to be honest. Also, gambling houses are not charity organizations. They are a business entity which exists for one reason - to make money! So there's no harm in it that they are getting richer. Unless you are extremely lucky, you can't make a big profit out from gambling. |
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All crypto is dropping now because of FED. It seems that it’s the start of the bearish market. Should we sell all crypto now?
What did FED do recently? I am not aware of any such news. Can you please share a link to the news? Also the crypto market was highly inflated due to the entries of hundreds of new meme coins. So at some point it was expected to go downwards which is happening now. I wouldn't term it as a crash, rather it's a correction happening for good. So sell off if you wish but also make sure to buy back at the right time and right price point. |
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why most of the peoples are not investing in meme coins??
Who says that people are not investing in meme coins? How they are getting billions of dollars of market cap? How they are achieving millions in trading volumes? People are definitely investing in meme coins, or should I say trading in meme coins! Meme coins are gambling in reality. So when it comes to HODL, meme coins are chosen by least number of people. But when it comes to trade/gamble, meme coins are still one of the hottest options available. |
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We always read the words "Don't bet more than you can afford to lose", but are we really following that safe principle in gambling?
So, I have a question here, if you are earning like $2000 a month, how much are you willing to gamble that you think you can afford to lose?
Please use the amount as a basis for your answer.
The affordability really depends on your income and existing liabilities. So there's no straight forward answer available for your question unfortunately. If you have a huge liability then you can't afford to loose money. But if you don't have liabilities, you can probably go ahead and spend 10% of your income for leisure activities. So it really depends and varies from person to person. |
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Its been a very long time that I've been using coinmarketcap.com/new to find new crypto projects that just get listed on the platform and I've come to notice that every two to three days coinmarketcap always list up to 30 new crypto projects, how insane is that? It shows that more than 100 crypto projects are released every week cos some landed on coingecko first before coinmarketcap, this to me is scary
I completely agree with you! This is indeed scary as crypto market is becoming a place for scammers and money launderers. Laundering money has become extremely easy because of the little known crypto projects and rug-pull type of scams are becoming a norm. If it continues, crypto market will soon loose its credibility and all governments will be chasing the crypto companies to bring them under the rules of law. That is not desirable! |
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These days, the number of scam projects in the cryptocurrency space is really getting alarming.
It seems as if creating a cryptocurrency or token is as easy as opening a facebook account, and that's why rug pulls and other forms of crypto scams is rampant now.
Shouldn't the blockchain technology restructure their requirements and tighten their audit methods to prevent or to an extent, reduce this menace?
I think some progressive actions should be made, like more strict supervising and audits and as well, due consequences should be attached to defaulters.
Cause it's really disheartening the loss being recorded everyday due to elaborate cryptocurrency scam schemes.
That's one of the pitfalls of a decentralized market where we don't have a governing body or a regulatory framework. There are tens of thousands of crypto projects available in the market and scammer are making full use of the crypto market to become rich. Also it seems that most of these scam coins are listed on a single platform - pancakeswap! I am not sure who runs this exchange but he/she must take some measures to minimize listing of new coins which has really opened up the can of worms! |
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While Elizabeth Holmes was a super-hyper, there is some degree of hypocrisy on the whole fraud charges as Silicon Valley is perfectly know for inflated and unjustified claims. Is there a limit between wishful thinking and plain lies?
Unfortunately, 99% of the crypto market is based on hype only! Otherwise coins like Floki Insu or Shiba Inu wouldn't get inflated to such levels. Creating hype is a marketer's job but when this hype is based on white lies, it dies a miserable death at some point in the future. It is true for both stock market and crypto market. Probably that's the reason why many people is talking about an upcoming crypto winter where the fittest will survive and rest all will go down to drain. It's the need of the hour! |
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It could be a fall back if a certain country's inflation goes through the roof. But what I am worried is people thinking that crypto is a fallback in case of a global recesion. Ifnthat happens then everything falls to a certain extent. So the bottom line is, when everything is ok, then crypto is ok, but if everything falls, be damn sure that it will take crypto with itself. Not saying crypto would wanish, just saying it wouldn't be the saviour we all hope for (and this is not FUD on my side, I am a firm proponent of crypto)
Can't strongly disagree with you! As of now, we have seen a correlation between the global stock markets and crypto market. The crypto market follows the global stock market at every major events. So it is very uncertain to say that crypto can become a fallback in case the government controlled currencies fail. But do we really have an alternative except gold? |
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According to the article published : https://www.gamblingnews.com/news/brazil-gambling-legalization-would-bring-3-5bn-in-annual-tax/ The legalization of Gambling in Brazil alone can bring 3.5 Billion Dollars in Annual Tax. The country have not yet legalized the casino gambling but there have been frivolous attempts to make that happen. At the same time it could also be responsible for creating over 650,000 Jobs in collaboration with Bingo and other forms of betting as well. The country's lawmakers want to tax Gambling industry at 30% to be able to earn from them a descent amount to solve the economic fallout from the last year, in the middle of covid, any move counts and can be important as well. The president have stern thinking and he is against it but some members think they are just looking 7 years worth of revenue if they are not legalizing it. What I do think is they should keep it into consideration that, be it legal or no people would still do it, might as well, make sure they are doing it on a trusted platform and at the same time bringing revenue for the country as well. What do you guys think? Shouldn't it be the sound decision?? Why is the government not legalizing gambling casinos even tho since 2018 sports betting has been legal in the country. If gambling activities can be controlled and implemented in a correct way, it can become a major cash cow for any government. It is a billion dollar industry and if it can be cleverly packaged with tourism, the money will start raining on the government and it will lead to various infrastructure and other development. Because government will have money to spend which will in turn create more job opportunities for the locals. The locals will earn more and spend more which will create a positive economic movement. You see, it's all a chain reaction! I am sure Brazil will be greatly benefitted from it! |
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Just a marketing gimmick which might help bitmex with some more users. But overall impact of such activity on crypto market will be a big zero. Sending something to outer space or moon is required for scientific research but sending 1 bitcoin would not yield anything at all! Rather, they could have donated this physical bitcoins to the astronauts in international space station. That would create some bigger hype and might impact the crypto market positively.
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While I can't say I completely understand the process or future of the IRS in the country. It is quite possible that in the future, the IRS will be legally bound from sharing accounts of criminal activity with law enforcement to guarantee the government reaps a higher share of tax revenues from crime.
Well, does that mean, crime will be legal in future as an individual will be paying taxes on it? The entire matter sounds like an oxymoron to me! Why on earth someone will be declaring that he had stolen a property and earned some money from it and then paying taxes on it! It's hilarious to be honest! |
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There are two reasons behind Sri Lanka's poverty.
1. Their tourism business is destroyed due to Covid
2. They believed that China is their friend
Their main source of income is tourism which got destroyed due to Covid and international travel curbs and they couldn't pay back the billions dollars debt taken from China. Also Chinese officials denied to extend their loan repayment tenure so they had to hand over the ownership of the port to China.
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Both are huge concept though that I would have to tend to agree with Elon here, (although still, him being a crypto influencer?, hmm).
Yeah, no use case for now, I said for now because it is not pure hype comparable to the ICO and IEO or even meme hype before. So it's a trend that maybe later we will find at least one compelling used case, that will really make investors, smart investors to take a little closer.
Yes, that makes sense! It's really too early to declare something very very new as useless. It is quite possible that metaverse will find great use cases as the time goes. But as if now, it doesn't really makes sense to buy a piece of land that stays within the internet or even buying a jpg image just because the owner is verifiable through blockchain. These are pure hype at this point but we are seeing an influx of tech companies showing interest in this field. Possibly something good will come up later! |
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I am wondering why no one has discussed about it! The metaverse and Web3 are two trends supposedly set to revolutionize the digital world. But the richest man IRL, Elon Musk, is not keen on either. In a recent interview, the SpaceX and Tesla CEO said he couldn’t see a compelling use-case for the VR-driven metaverse, and derided Web3 — a nebulous concept in which internet services are rebuilt around blockchain and cryptocurrency — as “more marketing than reality,” adding “I don’t get it.” Reference: https://www.theverge.com/2021/12/22/22849717/elon-musk-metaverse-web3-more-marketing-than-realityDo you concur? |
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Nayib Bukele is undoubtedly one of the most bullish politician in bitcoin history. So it's no surprise, he will speak highly about it! Also I assume, not just two but more countries will adopt bitcoin as a legal tender in coming months. But none of them is likely to wipe out their own currency system in this process just the way El-Salvador did. Bitcoin will be adopted as a parallel currency alongside their own fiats. Also it makes sense for the small countries as it will save them a ton of money from foreign remittances.
But I really doubt about the 100k claim. As Franky rightly pointed out, it is extremely difficult to sustain at 100k level. Some hype of whale movement may push the price beyond 100k but it won't sustain due to the huge sell pressure. So if we don't see a whole new array of investors in the market with a similar or higher buy orders, 100k will not sustain. The market has to eat up the supplies to sustain at that level. Simple economics!
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Is it just my impression or is interest in Bitcoin going down rapidly? One of the top recent threads is "Btc is boring".
Most of the other threads is mainly about hodlers trying to convince others to buy BTC, kind of reminds me of some random MLM forum rants promising riches and little to no substance. Bitcoin is a currency and not an investment. However, the fact is that bitcoin is unfortunately marketed as an investment by many centralized exchanges across the world. All of them have branded bitcoin as the best investment choice of the decade and trying to convince people to invest in it. Some are even running bitcoin deposit schemes. This is incorrect and can fire back at any moment. So bitcoin is not irrelevant to the normal people, rather the packaging of bitcoin is irrelevant here. It is a currency system and it should have been marketed in the same way. Which is unfortunately not happening! |
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apart from collecting all the money from these exchanges.
they will also gather all the information of the traders.
and then they will hunt them next for tax evasion and what not.
so, the people who have traded on centralized exchanges with their kyc and hasn't paid their tax.
better get on it right away! That is the biggest risk of using centralized exchanges in a country where cryptocurrencies are not defined by law yet. But whoever has invested through these exchanges, they are not in huge risk. if you have made few thousands in profit, that should be all fine. Income Tax department doesn't have time to go behind 7 million people. But if someone has done millions in profit and the data is not shown in their tax return, they are in danger! And that's how it should be! No one should mess with the government. Also I don't understand why GST department had initiated this raid! Where cryptocurrency is not defined under any law, how can a transaction in crypto can attract GST! That's very unfortunate to be honest! |
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Bitcoin has been rumored dead by media and the anti Bitcoin crusaders for so many times in the time past and 2021 alone Bitcoin has been rumored to be dead for 45 times and a total of 438 times rumors of Bitcoin being dead since 2010 and yet Bitcoin has always proven to be alive active and still gaining more public attention.
My question is why are those anti Bitcoin media always peddling rumors about Bitcoin each time the coin increase in it the price is their work with the government just to discredit Bitcoin, why is mainstream media always used to perpetrate evils against oppositions.
Lol! Mainstream media has lost credibility long back. The moment corporates with deep pocket jumped into this space and started packaging news as a commodity, it all has became a business. The journalism is dead, officially! Also banks are there to fill in their pockets with cold hard cash to run anti-bitcoin propaganda. So as a business, media houses are doing exactly what they are asked to do by their owners with vested interest. But did that make bitcoin look bad? Absolutely no! Bitcoin is still becoming more and more popular amongst the millennials and billion dollars of businesses are being built around the eco-system. So you can safely ignore these propaganda news. |
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This world of 7 billion people is full with experts in many fields. Every experts have their own vision and own limitations. So you will always find contradictory comments from various experts. So I feel it's not really worth investing time in reading through what they think about cryptocurrency.
Cryptocurrency has started just 11 years ago and while we are waiting to welcome 2022, it is already a market worth 2.27 trillion dollars. It's bigger than the GDP of most of the countries. So just believe in yourself and leave those experts aside.
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Bitcoin was created as an alternative payment system that would operate free of central control but otherwise be used just like traditional currencies. Shortly other cryptocurrencies followed with a much better and faster payment network. We generally read and hear how people are utilizing this feature for international payments. A lot of Indian expats now have started using cryptocurrencies to remit money to India. This is not only helping them with a cheap transaction fee but also their families are now getting access to the money immediately. Read this below article and do share your views. http://economictimes.indiatimes.com/nri/invest/many-indian-expats-turn-to-crypto-to-remit-money/articleshow/87247432.cmsThat is one of the major concerns of Indian government alongside the usual money laundering clause. When money is transferred through the usual channels, government earns tax revenue from both side of transaction. Also income tax is applicable to the recipient of that money. Now if that same person is using a crypto wallet to remit that money, government is not getting tax revenue. Moreover, if people are using p2p method to convert their cryptos, It becomes increasingly difficult for the government to track them as foreign repatriated income. But when it comes to savings for an individual working abroad, that makes complete sense! |
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