This is not the first time bitcoin is experiencing price drop, it only needs few time; months or years to correct and hit another ATH. Few years back many investors took the loss and cashed out their money, believing that bitcoin settled for lesser price. Don't be in such a hurry to move out your investment; bitcoin is falling in price so that it can rise up again. Below is a tweet of a bitcoin investor 12 years ago, that should encourage people to hodl and hope for the best in the market. I know some will never sell, when it hits a high price, but for profits purposes there's no gain in withdrawing an investment now that the price is below or slightly above the amount you bought in the market. Unless you depend on the funds for survival or for other important dispute, keep holding on. Tom only had to wait for 6 years to meet the 2017 pump; a long time indeed! Isn't the wait worth it?  Photo @RizzoIt looks so sad when you see stories of people who sold bitcoin dirt cheap to get back the few bucks that they put in. It was more like they in search of gold lost diamond. But I feel the lesson here is not to lose hope. Not to think that Bitcoin is going to end because whenever it fell it has always come back even stronger than ever. |
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Many users on the forum have asked how they can show their payments from Bounty or Signature campaigns as earnings from work rather than trade. By using the ITR-3 form, you can report weekly or monthly payments from Signature or Bounty campaigns as salary income. Depending on your annual income, you will fall under different tax slabs, just like salaried employees. Therefore, you will not incur the flat tax of 30 percent. Please note that your virtual digital assets should be converted into Indian Rupees (INR) on the date of payment. If their fair market value changed after receiving them, they will be categorized as capital gains. Thanks. Cleartax might not be 100% right here. Whatever was written was true until 2 years back until the new section on crypto was not bought, now with the new section there is no legal backing on declaring your signature income as salaries. No section says this and no notification says this as well. Point is whenever you sell your crypto to cash you are liable to flat tax under 115BH, there is exception mentioned and no case law saving you so far. Point is if you are stuck in assessment you'll be charged a flat 30% rate unless you are able to convince CIT(A) otherwise in an appeal. |
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Made a webpage to collect all the RSI data 4H 1D 1W time frames in 2 tables for a fast scalping trading still working on 1min 5min 15min 30min also gonna add more in indicators like MA EMA BOLL VOL MACD and many others ... but that will need advanced servers and much dev works and the data gonna be server sided so no loading will be needed , also auto pointers to tell which pairs is a hunt at the time but that would cost around 50k website is : https://tradehunter.info/if anyone need a free access please pm me donations r welcome  Does it makes sense to check Technical indicators of a coin which is actually pegged and there are people who control it's supply? Also it's a very obvious thing that when BTC's RSI will go into an oversold zone USDT's RSI will always move up towards the over bought zone. So why should we see the stablecoin chart and not the crypto chart? |
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The last weeks were marked by notable news splashes about Binance, and the problems of this exchange.
- The media reported about layoffs at Binance. Bitcoin exchange Binance has begun laying off staff. Presumably, the percentage of laid-off staff will be 20%, reported reporter Colin Wu, citing his own sources.
- The world's largest cryptocurrency exchange, Binance, has lost a quarter of its market share in the past three months as a U.S. regulator prosecutes it for allegedly violating U.S. federal laws. In February, New York regulators shut down Binance-branded Stablecoin issuance.
- The SEC has sued Binance and Changpeng Zhao. The Securities and Exchange Commission (SEC) sued bitcoin exchange Binance and its CEO Changpeng Zhao.
The U.S. regulator brought 13 charges, including unregistered offers and sales of BNB and BUSD tokens, Simple Earn and BNB Vault products and stacking.
The suit also alleges that Binance failed to register its Binance.com platform as an exchange, broker-dealer or clearing agency, as did the U.S. unit. Zhao was sued as a "controlling person."
These and many other negative news stories, about the world's largest exchange, have been in the air for months. Question:
- In your opinion, is this a consequence of increased pressure on China by the U.S.?
- What will the problems of Binance lead to for crypto market and crypto users?
One thing that's for sure is that SEC filing a law suit and it actually gets proven are two different things. We saw how Ripple went perfectly safely out of the SEC's Clutches proving them innocent. Same might happen with Binance and Solana as well. But the best part is that Binance and other exchanges will now atleast start fearing a regulation and ensure their operations take place smoothly in favour of the users and not for their profiteering. |
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Already everything bitcoin related is banned in our country still we are using bitcoin but recently government of our country may be more strict about using bitcoin. NAGAD, the popular mobile banking service of our country, is currently conducting a cautionary campaign in various ways to transact through Bitcoin in our country. They are using social media and leaflets as part of the campaign. Since we are involved with Bitcoin, these things seem scary to us. I already have some investment in Bitcoin and I am thinking of investing some more but at this time news like this is making me weak mentally.
I don't know what we should do at this point.
Bangladesh has strict ban on virtual currencies. They don't have a separate law on this but these things are covered under the Money laundering act itself so anyone involved in transacting in cryptos can be very well charged under money Laundering laws and sent to Jail. I feel to some extent it's scary to keep bitcoin while your government has clearly banned it. I would atleast try to keep it in places where they can't be attached to my identity. |
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Bitcoin moving with fundamental news events and the breakout turns to be a fakeout now. Price fully reversed back to the resistance area and rejected again. #BTC back in range, so lets see where the breakout would be. The problem with market right now since past 4-5 weeks is negligible volumes. We saw great volumes last time in April only, at that time we experienced never before volumes must have been some big accumulation by some whale but if you see after that May and even June till now has low volumes which has made us pretty much range bound. To break the range either ways you'll need some strong volumes. |
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A little thought experiment!
Expection:
We create a currency that is not stopping inflation, but which is slowing down inflation's negative effects. Effects like volatility.
Thought experiment #1:
- Currency A - 30 % increasing money supply/year
- Currency B - 5 % increasing money supply/year
The rules are:
- We have an average income per capita. Everybody with an income higer than 0.7 of the average income per capita is just allowed to use currency A.
- We have an average income per capita. Everybody with an income lower than 0.7 of the average income per capita is just allowed to use currency B.
- Additional everybody who is owning more value/money/goods 2.0 of the average income per capita is just allowed to use currency A.
- It is forbidden to exchange both currency with each other.
- All goods and services are pegged on the value (A+B)/2 ----- (Currency A plus Currency B divided by two)
- Every year every person is rated which currency the person can use.
Result:
What is your opinion? Would this mitigate negative effects of inflation for most vulnerable in our society? Would this work in your eyes? Which problems are you spotting?
Too confused on the part that goods and services are pegged on the value of (A+B)/2 because if money supply of both the currencies is different the value of goods will eventually deviate and become further apart. How can you maintain this equilibrium while also keeping a set amount of money supply %age. Also how will this solve inflation? Increasing money supply is giving you the inflation eventually. Not taking into consideration the fact that growth rates of salaries are not dependent upon inflation always. |
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Australian bowlers bowled very well. Lyon and Boland's bowling in particular was excellent. But my expectations from the Indian batsmen in this match were much higher. Because a few days ago they performed in IPL. After the IPL is over, the players are usually in a good mood. But every Indian batsman played very badly in this match. Ajinkya Rahane was the only batsman who managed to bat slightly better in both innings. Besides, no other batsman on the team was able to bat well. But I would not say that the performance of the bowlers was too bad.
Most of the Indian fans were expecting better performance than this, but sadly things were gone in wrong way for the batting, and they lost this match badly which is surely not good thing for the fans because after having good record against Australia fans were expecting better performance and fighting end of this final but they all bundle out cheaply and give another final badly as well. Yesterday when we have Kohli and Rahane at crease many were expecting better start of the day and specially good batting from Kohli, but Boland one over break many hearts and give Australia easy win after dominating throughout all five days in second inning bowlers were good, but batting were not good in both innings. Sad loss for India to be very honest. I still feel it's because of the sudden change in conditions that any sub continent team has to face while going to play in Australia/ England. You should atleast give a tour match to both the teams before a WTC to acclimatize to the situation. Indians were struggling to play the uneven bounce. I bet the same thing happens when SENA countries come to play in India you get extremely unplayable spin. |
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I was kinda surprised when I read the news from Financial Times that the cross-section of the UK's MPs that seems to see it as needless to regulate cryptocurrency suggested that it should be viewed as "a form of gambling" and be regulated as such.
Without relying on my own understanding of "gambling," I quickly used the help of the Oxford Dictionary through Google, and it states;
1. Play games of chance for money; bet.
2. Take risky action in the hope of a desired result.
The second one seems to fit crypto best, so it's clear they know what they are saying.
Now, do you agree that crypto should be seen as a form of gambling? And if this eventually comes through, what should we expect as the constraints it might still bring to the crypto space?
I won't say crypto is another form of gambling but yes trading atleast is another form of gambling only. No matter what you say short term trading based on any indicators and pattern is more or less gambling only it's just that with some risk management it can be made profitable some time. Same can't be done in Gambling because of no Stop loss option in games. Apart from this all projects and even long term investment in Cryptos doesn't constitutes as gambling. |
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The US just banned altcoin trading ,This is not good news for cryptocurrencies at all. From the beginning of 2022, the collapse of the cryptocurrency market began. In view of which btc lost its highest price and fell to 16 thousand dollars. Ethereum also touched 30% of its peak price. And most of the tokens in the cryptocurrency market eventually fell in price. Cryptocurrency prices improved slightly around April-May 2023, but people remained somewhat skeptical about the market. In the meantime, the US has banned altcoin trading. Which bodes ominously for the future of cryptocurrency. Is the future of cryptocurrency in jeopardy? Source: https://twitter.com/cryptomanran/status/1667431872333332481?t=0STo6Hty7Oao6xN8Dwu6xg&s=19 What he wrote and what actually happened is entirely different. What actually happened is that SEC tried to get hold of a few Cryptocurrencies. They started their own investigation on a few coins like Solana, Cardano and Matic and eventually Coinbase, Robinhood and a few cEX stopped trading these coins therefore US has indirectly stopped people from trading Cryptos. |
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Good to see Kohli and Rahane building a partnership, but I don't think that will do the trick. They don't have any X-factor players like Pant lower down the order who could rescue the team even if those two got out quickly.
The final day is basically an ODI for both teams with Australia having the edge. Exciting stuff!
Although Kohli did not play well in the first innings, Virat Kohli is playing very well in the second innings. And I would say that the performance of the first session tomorrow will depend on the outcome of this match. If Kohli and Rahane play well in the first session tomorrow, India will control the match. India needs 280 runs to win. 280 will not be a tough task for India tomorrow if the partnership between Rahane and Kohli continues. And if Rahane and Kohli can take wickets at the beginning of the day then Australia will win easily. I am really not going to be critic today. I just hope Virat Kohli and Jinks play two sessions atleast tomorrow. Honestly pacers won't really have a lot to do tomorrow as after ball gets old. But Llyon can be a Trump Card as there are too much cracks on the pitch right now. 280 runs with 7 wickets in hand is anyways a big thing to chase on the last day of any test. |
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I think almost all the drug based raids would always attract negativity around crypto. It's because it's the sad truth that crypto is used for payment of all these things at a large scale. But yes unfortunately in India the news channels would highlight this as it's because of crypto the drugs scandal was active, and not that drug scandal was the main thing and crypto was just their payment method.
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I got surprised i thought there is some police or other authority which is starting to investigate on this and digging evidences  |
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Sad to see India in such a horrible state at the moment. They still have a chance if they can restrict the Australians to below 400 which looks really, really tough at the moment thanks to Marnus primarily.
Jadeja-Ashwin-Axar combo could have potentially saved them from this mess.
I feel India is still better today from what they were Yesterday, i am expecting the target to be around 350-400 as well looking at how Aussies are batting right now. But to be honest couple of wickets can expose the tail and can lead to fury of wickets. But yes Ashwin is that one person that India must be missing so bad right now after seeing how well is Jadeja turning the ball on a few patches on the pitch. I feel even tomorrow Jaddu can be the key bowler, other than him only Siraj and Shami look dangerous, Umesh's and Sharadul's overs look more like fillers. |
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As of now, Bitrefil seems the most sane ways to make use of our cryptos. I have completely stopped converting my cryptos to cash since that 30% tax was imposed. So as of now, I can't think of any negative point for Bitrefil. It's saving us from huge burdens.
The commission is quite less and the price is quite ok. Especially when considering the taxes, I don't mind paying that extra amount because it's te most economical way of spending your cryptos right now in India.
I don't think it's profitable any more. Especially if you consider the BTC-INR cross rate of India right now. For example, I just saw a 10000₹ gift card on the website is around 0.00531671. If I translate this amount of BTC to INR using WazirX it translates to around 12500₹, the tax saving is 30% but it's on the net gain only which will mean the net amount post tax will be higher than what I am getting on this website. |
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I store Bitcoin on blockchain, Binance and trust wallet. I’m just wondering which other platform is safer and more secured? Since all 3 have been hacked before.
Remember when Binance was first reported that $100 million was hacked from their account, then the number went up drastically. so about 2 million tokens of BNB (worth about $570 million) was withdrawn.
Trust Wallet was also hacked and it caused the platform a damage of about $4 million estimated lose. Also, blockchain public data shows that hackers have stolen about $2 billion in blockchain cryptocurrency.
Cold Storages are generally considered the most secure type of platforms to store your bitcoin, it's basically because they don't always have a live connection, wallet is online only when you connect the hardware into the system. Example can be Trezor wallet. But one thing is very true, you can use any decentralised blockchain wallet that gives you private key, all of them are 100% safe as long as you don't act stupid. |
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The owner of this address bought a million dollars worth of Bitcoin every day from August 11, 2021 to January 1, 2023. https://bitinfocharts.com/bitcoin/address/bc1qw0pswznckx7s6tjmd2f5hrx4q6kc5nyrdxku50Received: 17,536.2628 BTC (517 ins) first: 2021-07-25 last: 2022-12-28 Sent: 17,536.2628 BTC (517 outs) first: 2023-01-01 last: 2023-03-05 Profit from price change: -239,395,601.9 USD Approximately $460 million was spent buying Bitcoin, resulting in a loss of over $239 million. Perhaps this investor did not know that the DCA strategy is better to use for a longer period, or perhaps he found a more profitable investment. Man that is so sad and so stupid at the same time. He did DCA right at the point where bull run peaked and kept doing it till we went rock bottom. Even though based on his average price he still might get profitable very soon, might be in just a few months, but this is a very bad way of investing to be honest, you should keep DCA on different levels of price and not only date based DCA so in case price goes up you don't need to do a DCA. |
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Very interesting! I have seen these job offers a lot of time around social media, even showing off their earnings many times but didn't know that this is the reality of this scam. They do pay you but eventually know how to take that money back from you as well. I feel India should bring some law on cryptos so that these things can atleast be reported to the concerned authorities otherwise no point really of having the taxes on it.
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What a great performance from Australia. It is truly unbelievable how much pressure they put on a team like India. Australia set a target of 469 runs against India.
Really impressive piece of performance shown by the Australian batter as they smashed indian top bowler in this crutial full of pressure final, they way indian bolwer start by taking early on wicket I taught they will grab them but long partnership of smith and head runied the momentum which Carry on by indian pacer. Australia performance in the WTC23 final has indeed been commendable applying immense pressure on India. While India may have lost 5 wickets for 151 runs it's crucial to remember that cricket is a game of unpredictability. The match is far from over and India still has an opportunity to regroup and mount a strong comeback. Despite the absence of their best batsman and the early dismissal of Gill and kholiOther talented players in the Indian team who can rise to the occasion. With determination and strategic play India can bridge the trail of 318 runs. Its remain optimistic and eagerly await the exciting cricket that lies ahead in this final. I know many people will blame IPL for this, some people will blame captaincy for this. But truth is these things do happen. Australia will always have an upper hand while playing in English pitches as the pitches are more similar to Australia as compared to sub continent. Also it's still not over to be honest, we saw Smith and Head doing a good partnership to save the Aussies, if Rahane and Bharath can do the same it's still game on for India. |
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With the current issue in the crypto world between Cz (Changpeng Zhao) Ceo of binance and the Sec, I support Cz with reasons that binance has done alot to earn it's communities trust,helping millions of users in the crypto ecosystem,and has more durable marketing strategy whereas the Sec is government driven and wants to control everybody.
It's unfair that the sec is suppressing a private cooperation that's helping to grow & build the crypto world, binance is helping everybody including crypto whales and newbies and a fight against binance is against the world.
What's your say on this?
I obviously won't say that SEC is very clean and doing all this for betterment of the society but honestly Binance themselves aren't very clean. We all know how many market manipulations has Binance been accused of so far. Not only this we even know it had a hand in the FTX thing as well. So obviously if you support Binance also be sure you are supporting a side which has done many bad things for retailers as well. |
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