After a few days of Coronavirus the unemployment rates in US rised to around 20% but after a few days the charts neutralized and went to 10% again but I thought that number was manipulated by the US government to show a great picture for the upcoming elections. Now once again number has risen to around 12% which obviously means US is in great trouble again. But truth is that this was bound to happen. No corporation would pay you if they are not getting any profits. No government can do anything about it.

Actually the economic effect of Covid won't rectify itself in a span of merely a year. People who voted positive are just trusting their guts for a positive future but the truth is contrary. There has been a lot of money infusion in the global markets which is why almost every stock market around the world is behaving pretty stagnantly and looks pretty healthy but these markets aren't depicting the true health of their retail economies. Even the Central Bank Governor of India said that Indian stock markets are at a wide disconnect with actual economic conditions and will rectify. Moreover, another truth is that the GDP estimates of almost all the countries are going to see a sharp decline. Now in such a situation with infused liquidity and falling GDP conditions are going to become. Much more difficult for everyone.

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This is a major issue generally faced by all the traders even those who trade on stock exchanges. Now my Opinion would be based on my Understanding of the Tax Laws and it's application with the current legal scenario of Bitcoin. It will be well backed by provisions so you definitely can make a case using it. So:

INCOME TAX
1. For stock traders there is a case law by Supreme Court where they determined that turnover of Intraday/derivative traders is to be calculated in a different manner.  Irrespective of how much you brought or sold. This is the manner of calculation:

 (i)You calculate profit/loss you had each day after squaring off the position.
 (ii)Total up all your profits and losses, by taking losses as positive. For Eg. these were your profits/:
          Profit/Loss             Turnover
Day 1:  ₹50000- Profit         50000
Day 2:  ₹40000-Profit          40000
Day 3:  ₹(30000)-Loss         30000
Day 4:  ₹(30000)-Loss         30000
Day 5:   NIL                        NIL
Day 6:  ₹20000-profit          20000
Total:   ₹50000-Profit          170000

Therefore your turnover was 1,70,000 while profit was 50k.

Pay Income Tax on 50k Accordingly and check applicability of Tax Audit according to Turnover calculated in this manner. You won't find this anywhere in the Income Tax Act/ Rules but Supreme court upheld this in case of F&O and is a very widely accepted practice for people who do F&O. But remember this was upheld by SC in that because they were of the opinion that no actual delivery took place. Same might not be accepted in case your AO is adamant in considering bitcoin a commodity rather than a Security. In such a case you might need to sum up the amount of Bitcoin you sell everyday. No matter if it reaches 21 Crores(considering 5-6 lakhs everyday). in such a case you might even need to get Books of accounts audited by a Chartered Accountant. But I would prefer you to go with the first option in my Opinion Supreme court did classify cryptocurrencies as Virtual "Currency"

GST

This is a much tedious issue than Income tax. if you consider Bitcoin as a "security" then it's exempt from GST hence no GST is chargeable. But definition of securities are to be read from securities from  Securities Contracts (Regulation) Act, 1956 which states securities include:
Now as you can see bitcoin isn't a security so GST is definitely applicable. Once again issues comes upon Turnover which as per me should be calculated in a similar fashion. So take GST number only when your sales exceed 20 Lakhs.

Registration as firm
Practically there is no registration for a sole proprietor except if required under GST. But so far I don't think you need any separate firm or something. Just open a separate bank account, current account is advisable not at all mandatory(You might need letter head/CA Certificate for current account). Make transactions from this account only.

This answer is based on examination of bare facts that you have presented to me. I would prefer if you PM me in case you need specific assistance with specific facts as interpretation might change in those circumstances.

There are basically two type of factors that could affect an economy. First could be the avoidable or man made factors I would say and others would be unavoidable factors. First one are the more prominent ones and they include lack of proper fiscal management by government and useless spending. Also other types of political instabilities can also be cause of such a economic slow down. Second one are the natural reasons which means the cyclic patterns of the Economy of boom, depression, revival and growth. However there are certain unavoidable factors like the COVID which was pretty much unexpected hit for every economy and several other natural calamities you can say.

1. This obviously is the same old strategy wrapped up in a new box of bitcoin based cashback.
2. I think these websites including google pay actually don't even give 0.1% of cashback of the total transactions you do. They are just like a casino with no provably fair guarantee. Lol
3. I think entrusting such a website with your bank account details as they are not registered in India.
Hey which bank did this? Why didn't you slam their face with supreme court verdict? I can send you the original 180 page verdict if you want to share that with them. Uncertainty doesn't means one can violate supreme court rules. Banks are obliged to obey such rules.

I am bit confused? Do you want to know what is the meaning of signature earnings or you want elaboration on the tax treatment of signature earnings? If you want to know what is a signature and signature campaign you can read the same here :
https://bitcointalk.org/index.php?topic=1684035.0

Alternatively if you want to know elaborative tax treatment of some issue kindly highlight that issue.

The crash game is pretty entertaining and addictive I must say. While you make the calculations in your head regarding how far could the rocket go in next move the rocket always beats up your thoughts. It's highly unpredictable and this gives a good thrill therefore. Yesterday while I encashed myself at 10x saw the rocket going upto 160x. And when I wait for such a thing I usually crash pretty early lol.

Wait a second? Isn't every transaction on every exchange a P2P transaction? We actually sell to someone who wants to buy it then what's the difference that you are talking about? If you are saying that the buyer seller can set their own prices then truth is that why would they set price above below the current market price? Both would want best for them? And even if one of them agrees to compromise that price could become the new Current Market price. Isn't that how a market is formed? If you think centralized exchange prices are manipulated try Decentralized exchanges. I think a direct dialogue with the other party would just make the process slower.

Edit: oh you are talking about local bitcoin type exchanges. They are highly risky and too slow. They should be and are used only when a person wants to sell crypto for fiat. And that fiat pair isn't listed anywhere. Wazirx in India allows fiat withdrawal in this way but the prices are really on the CMP you can expect a variance of around +/- 0.5-1% at max in rarest of cases

Even though this might not give a clear hint about when he is going to buy bitcoin but one thing is pretty evident from this that the equity markets are in some danger maybe that's why he is trying to add on some low beta gold on his portfolio. Maybe the Quantity is low but still a historic move must be due to some reason. Because he never does any investment just without any reason. While about bitcoin I think until there is no regulation big Investors won't hurt themselves with litigations by entering in Bitcoin.

Even thought i can't completely disagree with your point it makes certain sense but yeah inflation is not a monster eating anything even if there would be zero inflation there still would be the similar return you would be getting in real terms.

coming to second part there might not be hyperdeflation but have you heard of  the deflationary spiral theory? A person spends money because it's remaining the same tomorrow or even getting cheaper. But in case of bitcoin or any other deflationary currency. Why would someone spend a deflationary currency? A currency which would become more dearer to me tomorrow. Moreover, at time when credit availability is the basic requirement of certainly every business how will economies work in case of a deflationary currency? We already know how easily credit is generated today.

7 as usual
bc1q5r4l7aky8hjm4jhfy09x34hpslp3ud7vypujww

Yeah even Barcelona suffered a similar kind of defeat we shouldn't forget against Bayern. Even though they didn't play well but losing by 2-8 isn't something you will see in a crowded quarter final from Barcelona. Madrird too suffered a similar defeat so all on all I do think there is some crowd effect so I think this would be real football based on skills. Betting will become more interesting Lol.

Definitely yes, I have had many communications with different people who are not involved in cryptocurrency. Most of them generally give this excuse only that these things are used for scams and fraud. I think even the media portrays it in such a way. The recent twitter hack scam was portrayed more as a bitcoin scam by many media channels and folks have the habit of judging a news merely by reading the headlines. But this problem unfortunately has no solution at all.

Atleast talking about the economic growth. I think world economically has pretty much recovered from Covid. If you see the stock markets of every country they are at levels at which they were during beginning of Covid even the retail markets atleast in my area were flooded post lockdown opened. But yes if vaccine is proven to be effective we can see a big bull run in the economy as due to infused liquidity by almost every government there has been a lot of boost in the economies around the world. Rest it's too speculative to predict anything correctly as of now.

Talking about the vaccine part, I think it's somewhat choosing between the worse and the worse. Reminds me of a saying that harder choice is the choice between worse and the worst.

Do you think any of these unexpected events are due to lack of crowd support available to players? I mean generally Man city would have so many supporters with them which sort of increases the morale of one team and decreases that of other maybe due to lack of support we are seeing many underdogs overperform this year. But yes this makes betting risky yet more profitable.

I think sportsbetting is generally different from gambling niche. Even though it's a good add up but their current idea should be to develop and sell their Unique selling point and Key Resource Area which definitely is Gambling. Their crash game is pretty decent. After the idea of crash games has come into existence only a few websites have very good crash games and Gamedom is one of them. So their current focus is to increase the quality and experience of users with games already on the platform. So I don't really think they would be trying to enter into this sports betting segment as it's a altogether separate business.

I think it's the saddest news from cricket among this pandemic. I thought we could see him last in the T20 world cup that was scheduled to happen this year. The core of his career started after the T20 World cup 2007 and could have ended with a T20 world cup too. But nevertheless, I think he got pretty much well deserved applause throughout his career and no doubt that atleast on the performance metrics he is the Best Captain not only in India but throughout the World. Sad to see even Suresh Raina retiring alongside him. But yes I hope to see both of them playing for CSK in IPL in coming September which I am pretty sure BCCI are going to Organize.

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On the IPL issue I think one reason BCCI is so keen to have IPL is because they know that everybody being in lock down situation would give them ever high TRP. We already saw a few retro shows being played and getting huge TRP. I think BCCI is expecting the same from IPL.

Why only China and Nazi Germany? Isn't every country in the world doing this? How were the colonial Britishers different? How is US different? It's just that when a country other than the Allied Powers start to do this they always have Problem with that country and they try to show that country as a bad villain in front of whole the world. Atleast as of now I see nothing wrong in China's Belt and road Initiatives. These aren't naive countries and China isn't forcing anything on any country. Each country have properly set up government systems who are willingly taking decision to be part of OBOR. China hasn't forced any country so far diplomatically or in any other way. These countries agreed themselves. Yes Sri Lanka did lost the rights of Hanbantota Port but once again it was their own choice to take Chinese funding in first place. China atleast hasn't used Military like USA. Also India too is developing such a strategy called necklace of diamonds to counter China's strategy which too is pretty good. I don't understand why western countries always have problems with development in the east.

There are actually two types of competition. One is that you need to mint maximum money in a given time using an initial which I think would be quite interesting concept but can't see any of them in cryptocurrency.
But yes generally all exchanges have a different type of competition that is to increase volumes of certain coins they keep a competition for maximum trading in that coin which according to me isn't that fascinating considering that a normal trader would never win that. I suppose you are not looking for such competitions?