If they fail to kill the crypto economy that way, they will probably come up with something new.
This could be the reason RBI is looking forward to introducing its own digital currencies in early April 2022. Their Finance Minister Nirmala Sitharaman said this will boost the economy and efficient currency management which surprised me. A large number of the population in India doesn't have any compatible device or access to the internet. So how their CBDC will boost the economy without any participation of these backward people! I am assuming that they will again ban cryptocurrencies in their country after they finished building their own CBDC. |
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The decision by China to conduct a trial use of blockchain technology in it major cities of Guangzhou Shanghai and Beijing giving the permission to about 164 organizations to run the trial test of the blockchain technology, this was made known as a report from China Central Cyber Space Administration makes the approval. “The notification requires that capacity-building be strengthened. All pilot units (regions) should give priority to adopting blockchain software and hardware technologies and products with interoperability and sustainable development capabilities; actively guide blockchain applications to develop towards value, scale, and industrialization; accelerate the formulation of relevant technologies and application standards,” the notice said. https://finbold.com/china-sets-certain-conditions-for-blockchain-use-within-the-country/As it was generally known that China has a total ban on cryptocurrency last year and it decision has remain steadfast as the government took drastic measures to bring to an end existing crypto firms, mining rigs to shutdown, stating that it imposed a danger to their economy. But to the latest development, its giving the use of blockchain technology application a trial opportunity stating that the proposed blockchain differs from the bitcoin blockchain. what's our intake on this? For being the world's largest global product exporter china could face a supply chain crisis and this could be the reason they are thinking about using blockchain technology in their larger cities. Also, this could boost up healthcare, education, bank, and governance as well but I am not expecting any positive outcomes about bitcoin or other cryptocurrencies from them. Instability in the crypto market gives them more confidence in their decision and pushes them for a digital version of yuan. |
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আপনারা কে কোন হার্ডওয়্যার ওয়ালেট ব্যবহার করছেন? আমার কাছে একটা সেইফপাল আছে যেটা আমি রেগুলার ট্রাঞ্জেকশন এর জন্য ব্যবহার করছি পক্ষান্তরে আমার লেজার ন্যানো এস আমি দীর্ঘ সময় হোল্ড এর জন্য ব্যবহার করছি। কিন্তু সমস্যা হচ্ছে সীড কী লিখে রাখার জন্য বেস্ট অপশনটা কি আমি সেটা বুঝতেছি না। যদিও আমার কাছে সেইফপালের একটা মেটাল বক্স আছে যেখানে আমি সেইফপালের সীড কী লিখে রাখতে পারছি কিন্তু লেজার এর জন্য ওইরকম কোন অপশন খুজে পাচ্ছি না। মানে নতুন করে অর্ডার করা ছাড়া অন্য কোন অপশন নেই। আপনাদের মাথায় কি অল্টারনেটিভ কোন বুদ্ধি আছে?
বাংলাদেশে প্রথমদিকে সেফপাল আনা গেলেও সম্প্রতি অনেকগুলো সেফপাল ওয়ালেট কাস্টমস আটকে দিয়েছে। বাংলাদেশে ক্রিপ্টো লিগ্যাল না সুতরাং বাইরের দেশ থেকে এসব ডিভাইস আনার ক্ষেত্রে একটু সতর্ক থাকা ভালো। আমার জানা কিছু পদ্ধতি শেয়ার করছি সীড কি নিরাপদে রাখার জন্য। ১. সীড কি লিখে রাখার জন্য মেটাল বক্স ব্যবহার করা সবচাইতে নিরাপদ পদ্ধতি যা আপনি সেফপাল ওয়ালেটের জন্য ব্যবহার করছেন। ২.তবে আপনে চাইলে ফ্লাশ ড্রাইভও ব্যবহার করতে পারেন। তবে অবশ্যই খেয়াল রাখবেন যাতে ফ্লাশ ড্রাইভ ব্যবহার করার সময় কোন ইন্টারনেট সংযোগ না থাকে। ৩. আবার চাইলে কাগজের পেপারে লিখে তা লেমোনেডিং করেও রাখতে পারেন যাতে তা নষ্ট না হয় পানিতে। এক্ষেত্রে ১২ শব্দকে তিন ভাগে ভাগ করে তিনটি আলাদা ডকুমেন্ট তৈরী করে আলাদা স্থানে রাখতে পারেন। কেউ একটা ডকুমেন্ট পেলেও তিনটা ছাড়া আপনের ফান্ড এর কিছু করতে পারবে না। ৪. আবার নিজের শরীর গোপন কোন স্থানে ট্যাটুও করতে পারেন  যদিও আমি তা করা নিরাপদ মনে করিনা তবে এতে সীড কী হারানোর ভয় থাকবে না। |
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India isn't actually poor country if I am not wrong even though it is a developing country it is one of country developed near to super power like USA, China and Russia
I think you guys should be more focused on the overall situation not only a countries GDP. India has a good GDP rate but in comparison with its population, it's nothing. India is far more behind than USA or China so don't make a comparison with them. their man power and also even CEO of tech giant company os an Indian. Probably the infrastructure is poor due to the corruption because they are leading in the corruption rate among the other countries
Job in the IT sector in India is very popular because engineering is being the most demandable subject among the students. I think this could provide a positive outcome in the crypto industry in the future. its about a government will allow decentralization into their banking system no matter its a developing or third world country???
Indian govt is not allowing decentralization. RBI has proposed creating its own CBDC in near future. They are trying to discourage crypto by heavy taxation and illogical regulations. New source. |
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Anyhow, back to the crypto percentage.
Numbers show 100 million, so if we say that the majority would be concentrated in urban areas, then there must be at least 10% of the population in Mumbai, so at least 2.5 million poeple own crypto there, in just a city! Can somebody show some real proof of that number? I mean, if a city of 500k total population in Europe has 10-50 businesses accepting crypto that would bring the number to thousands in Mumbai, right?
You would have almost the same number of users as the number of votes Gandhi got in 2019 yet nobody takes a push for legalization, not with such a huge voting power behind it.
So, there must be something wrong with those numbers.
Of course, the number of 100 million makes no sense no matter how someone sets up that story. All this is the product of someone who wants to create FOMO in that country by persistently placing one and the same lie - and how many times have we just read this information on the forum? It is a bit hard for me to believe that people who do not have basic living conditions (electricity/toilet) and also according to data from 2021 more than 20% of them are completely illiterate can be leaders in the number of crypto users. Also (if something hasn't changed) there are no political parties in India that support Bitcoin. I think you are right about their political party. Corrupt leaders only care about money and this is validated by seeing this news yesterday. They are implementing a 30% tax on all digital assets which means crypto. But you know what the funny part is they are charging not only for gains but if you gift someone with digital currencies you have to pay that 30% tax. But they haven't legalized crypto in their country yet but implementing the tax in it! I am not sure what I should call it funny or discouraging for the crypto user! |
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I barely doubt India is poor country. India's 2020 GDP passed the developed country like Canada and United Kingdom.
The economic growth is enormous considering the set up of giant medical supply chain, tech advancement and Information tech sectors growing at alarming rates.
In fact, India GDP 2022 is predicted to grow from 6.6% to 8.5%+.
Having poor people in the country and being the poor country are completely different sides of coins.
 Yes with -7.3% growth India has done very well in 2020!  You know what the problem with GDP is? If govt constructs a road poorly and then it's damaged after a few months and govt again spent money to fix that road, the GDP rate will be higher. If govt spent money in the unprofitable sector like building the world's tallest statue by spending millions of dollars it may be beneficial for GDP but won't be beneficial for the people. Because the more spending happens in that country the higher the GDP will and it doesn't matter what that money spend for. GDP doesn't show the country's economical growth. One CMIE household survey shows that 97% of Indian peoples wages go down in comparison to the previous year and 75 million Indians go down to poverty. I am talking about those people who become poor recently. |
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India being technologically and economically poor is a wrong statement. As every country have poverty India has poverty, but the economic situation is far better compared to many other countries in the world.
You judge a country's economical situation by measuring the average situation of the total population of that country. As you have said every country has poverty and the even USA has poor people who live in the street so now you will say the USA is a poor country? That doesn't make any sense. 22% of Indians live in poverty according to Wikipedia.  Second I want to mention about the number of smartphone users in India. It stands next to China with 439 million smartphone users. This can be considered as a fact to show India is technologically good. It holds the second highest population which is also a reason for the same. Among the 439 million smartphone users 100 million being cryptocurrency users is really a big thing and shows the wide market of India.
Compare that with India's total population. 94% of senior people in India don't have a phone. There is no doubt that India is one of the great smartphone consumer countries but still, a big chunk of the countries population doesn't have any access to the internet. That's number is improving that's good news. |
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Isn't the fact that a country who is "economically poor" is enough to explain why people in a third-world country continue to use crypto as a hedge to make a living and put food on a table?
Similar to the Philippines, which is also a third-world country, bitcoin or cryptocurrency in general is used to make a living. Some individuals here are considering becoming full-time traders, NFT flippers, airdrop collectors, and so on, as long as they are making money. Another factor could be the economic impact of the pandemic, as well as the global adoption of cryptocurrency.
Then where this will take us so far. In a short term, this country could be benefited through this money that this crypto worker brings into their country but in the long run how this will impact that countries economy? Many people from this country invested in bitcoin and dogecoin by seeing massive growth in short times and many of them do this by taking a bank loan or selling property. Most of these people are unaware of the risk involved. So don't you think this uneducated investor not only affects his financial condition but also the country he lives in? Is that the reason many third-world countries are not legalizing bitcoin? |
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Possibly, most of them have finally experienced the things that they want. The transparency and the decentralized part of the crypto economy make it even better for everyone there, and they could maximize their earnings with it. It's the freedom everyone is capable of. A lot of technological enthusiasts live in India. They are geniuses when it comes to computers. So why are people surprised by this? I hope it's being used the right way.
I know a good amount of Indian people working in the IT sector and they are doing very well. But the reason crypto had been created can not be achieved in a country like India. How you can step towards mass adoption of a technology that requires a digital device as an essential element. And how you can maximize your economical capability without half of your country's population who doesn't have access to the internet. |
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If you believe in that green energy crap then I have bad news for you, it is not going to save EU. Let's see the numbers:
You don't have to believe in green energy to see that we depend less on natural gas and coal and more on electricity. It doesn't have to be green, it can be nuclear. Anyway, the use of solar energy is growing every year as are imports from other countries. 2019-2020 EU cut gas imports from Russia by 5%. Governments see that Russia is unreliable and are looking for alternatives. Putin is running out of time. Qatar is in talk with the EU to supply natural gas if Russia cut their gas supply. Source link. I think this is a good alternative to the neutral Russian threat but the problem does the EU has enough infrastructure to import natural gas from a country that is located far away. This will also increase the cost of natural gas which is already skyrocketing in Europe. Qatar could be a good alternative to the natural gas supplier in the EU but this can not be done on short notice. |
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According to the world bank, India is 13 poorest country in Asia. They are even behind their small neighbor country Bangladesh. More than 68% of indias total population live under poverty whose daily wages is only 2$. 30% of them earned 1.25$ daily. Source Link.Really brother, still you think India is not economically poor? Only 54% of indians have mobile phones and from which only 24% have smart phone. Source Link.It's almost half of the total population of the country. will this current crypto enthusiastic generation of India could build up the future Indian economy to prosper or will it adversely affect the country's economy?
Honestly, every country that sees a great source for the living of their people and for the government, it's what's matters to them. But I'm more confused about the news that has become trendy there last year about RBI banning bitcoin. I think Indian officials don't know what they should do. They ban crypto then again unban it now they are saying they want to regulate crypto. I think they do not understand crypto very well and how they can be benefited from it. |
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India currently has the largest number of crypto users at over 100 million. Nowadays, crypto has become very popular among the young people of India and many of them are involved in the crypto business. How is it possible to raise so much awareness about crypto in a country so technologically and economically poor and will this current crypto enthusiastic generation of India could build up the future Indian economy to prosper or will it adversely affect the country's economy?  |
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drug addicts are not thinking about prison potential when they are craving drugs but have no money on them. they are just thinking about getting money by any means. no jail sentence will be a deterrent to drug addicts doing crime
drug dealers know they cant report rival gangs to the police as the police then start asking questions to the dealer.
so drug addicts knowing they cant report their drugs were stolen, take their 'justice' into their own hands. firstly to stop the thief, and secondly to send a harsh message to everyone else to not repeat what the thief done or it will happen to them too.
when you hear the news of "drug related crime" this is only 3% about some doped up knuckle-dragger going insane and starting a killing spree. its 97% of the time gangs doing their own justice.
so why cant they go to the cops if someone stole their product but can go to the cops if someone stole their car.. because drugs are illegal.
To kill a snake cut off its head. Drug addiction is behind many criminal activities in our society. Punishing drug addicts won't solve the problem because a dopamine shot is more desirable for them than the entire world. Govt should track down and lock up this drug dealer otherwise nothing will change. They won't do that either because many officials get a share of money from these drug dealers. I do not think without official involvement drug dealers do their business that easily. |
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understood however when looking at coin like Covalent, the top 100 own 99%. does this matter ?? I thought maybe supply should be more spread
Of course it does matter, if top 100 owns 99% then something is wrong with that project. It can easily be manipulated for instance, or what if those suddenly dump the coins in the market? What will be the results? It will be a disaster for those small holders. To be fair, there are a lot of projects like this, so personally, I would stay away from this projects. I have seen many projects that made more than 20X when the top 10 holders have 90% of the total supply. Actually, it's risky to put any money on those projects but for a working project, I saw the team push the price exponentially by keeping most of the supply out of circulation. The team will surely sell their token gradually but for quick profits, I can risk some money to those projects. |
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It has but the weak point is, recently most of shitcoins choice hotbit for listing & most of those recent listing shitcoins create hype by bot trading and then got disappeared for lack of liquidity & real traders indeed there are fast deposits / withdrawals But the main thing is not to store cryptocurrencies there, Otherwise, you can be left with nothing.
That's right. their deposits & withdrawals are impressive but hotbit Isn't a good place for store or trading coins cause i notice, they try to survive their coin by bot trading. No order but continuously buy-sell are ongoing. There are some other exchanges too that are also promoting shit projects. You check Latoken, Bitforex, Probit, Coinsbit, whitebit, P2PB2B, and some similar exchange then you will see this exchange has extremely low volume and all the top project listed there has a big spread. Those exchanges are not ideal for daily trading and all the shit project listed there shows enormous amounts of volume with a very small buy order. |
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Inflation is largely the concern, USD won't take a hit because Russia decides to tank their economy further with a pointless war. Only reason for a spiral would be if the situation in Ukraine escalates beyond just the two countries, forcing the U.S. to get involved.
I do not think Ukraine is that important to escalate a world war. There is not much Russian interest there except Ukraine from joining NATO. Nobody wants to have a hostile neighbor. It will be wise for Ukraine to be a buffer state if he doesn't want to be the meat in the sandwich. Putin just showing off his power to the Russian nationalist because he doesn't have any gains to show his people. This tension to become a world war is near to zero. |
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If you look at some sci-fi series like Star Trek, there's a united nation on Earth
maybe all humans on this earth should have the same goal the same enemy to ignore our personal interestsThen it wouldn’t be called science fiction  It would be really strange that human attitudes can change in the sense that people should not be enemies to each other - but the problem is not ordinary people who just want to live normally, but those who have the power to control all these people. Is the average Russian eager for war with Ukraine or is the average American interested in imposing sanctions on China or Iran? Of course, this is never the case - corrupt politicians constantly want to keep nations in some sort of quarrel so that they can still enjoy the power that comes from all the chaos they produce. Your point of view has made it clear that we all don't want conflict who end up killing each other. That's why our politicians & leaders don't have as much power as kings in our history book. Actually if you compare in the past, our world is more peacefull than before. Thanks to the internet & technology so we can connect each other and can read the world news even though we can't be one nation, we already have the United Nations  there will never be a single currency in this world as cryptocurrency is not just bitcoinDo you know why the world is more peaceful now? In the past, all the power was consolidated to the king and the king can do anything they wants to. But now in a democratic country, you can not do that so easily. Also, nuclear power gives some balance to the world power and that is why North Korea can threaten the USA but fear to do any military conflict. In the past biggest and more trained army win the battle but now one single nuclear strike could turn the tide no matter what's your army size is. The nuclear weapon is the most dangerous weapon in the human's arsenal and this is the reason we haven't seen any world war till now. World leaders understand mind your own business is good for everybody. |
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Another opportunity has created for new investors to have some good coins listed in their portfolio. Many who bought higher now leave at the mercy of the market but for those who were scared of how high the price flew within a short time now has a better chance of joining the market at a good market value.
My agitation now is no one should come back shouting about missed opportunity in the future I think since late last year the market has been a bit fair to new investors giving them opportunity to join the train. Everyone can be a millionaire in crypto attitude towards market volatility is what makes the clear difference
What I believe is in crypto opportunity comes again and again so we just need to wait for it not chase it. Those who sold their coin at a higher price now have a chance to get 2X of what they have sold. But humans are very mysterious animals and now I am telling you what is in people's minds. Now many people will say the price will go more down and they will wait till then and many put all in by panic after seeing a little greenery on the market. But smart investment won't do any of it. They will buy some now and observe the market if more dip comes they will buy more. So either way, the market goes ups or down they are the ones that will chill and have relaxed. These are the people that can actually take from the market. |
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I still say Putin will try to outlast the united states and EU and pray that their economies crash, will russia's remains relatively stable. This could cripple europe and america's ability to react to any move that russia makes.
The moment the EU crashes a market of 1/3 of their GDP in exports is gone. This is the same thing for China, China doesn't want the US economy to go down, just imagine if the US can't afford to import and consume all that stuff that comes from China, what are millions of Chinese going to do for work? More than 47% of Chinese goods by value are exported to its neighbor country in the Asian region. 20% to North America and the other 20% in the EU means the USA can not single handily crash chinas economy if they made any sanction to china. The USA is the biggest importer of china but they are not the only one so there is no way the USA can stop chinas economical growth. Also, the USA can not replace China as one of the biggest exporters of the world because of China's cheap labor and manpower it could generate. Putin needs to flex his muscles to show the people in the country something because he has nothing!
A country with vast resources and a minimum wage of 180$, on pair with the poorest region of China, lower than Mexic, Brazil, or even Albania, and before anyone brings the PPP into the discussion, a BTC is worth $37k both in the US and in Zimbabwe, hiding behind PPP means acknowledging you're living on bread and water. He simply has nothing to show poeple, not wealth, not healthcare, not infrastructure, he can only play the nationalist and patriotism cards, and for that, he needs the "glory" of the USSR if not economically at least military, just like a hooligan with a baseball bat, he doesn't care about his own problems but must impose his views on his neighbors and frighten them every single day.
What you are saying is true but we have to understand Putin has one of the largest militaries in the world and this gangster leader could cause serious destruction to the EU and to his own people. This power show-off could escalate a full-scale war at any time. |
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But it might also be due to other factors. Putin got very angry with Ukraine for creating the Crimea Platform in August which brought G7, 29/30 NATO countries and all EU countries together to discuss returning Crimea gradually back to Ukraine and recognizing Crimea as a part of Ukraine. I really doubt that Russia will agree upon returning Crimea to Ukraine without any military intervention which will never happen. If NATO and the EU really thought that Crimea is an important location and it must not fall to the Russian's hand then why didn't help Ukraine in 2014 with military forces when Russ army invade Crimea? EU knows how badly they needed Russia's natural resources to fuel their country. |
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