Over the years in cryptocurrency, through ups and downs, gains and losses, mistakes and learning, I finally feel a sense of satisfaction. Good news for me when the market is bad. I too have heard stories of growing up overnight and felt the need to get involved. Dog coins and 100,000 $ ++++++ ... I heard the strange joy of owning something. Anything but all this was just a lack of knowledge and clarity. It was as easy as gambling. Like growing up overnight?
I heard a lot about Kipto last year. After hearing that, I sold my tokens. Towards the end of 2021, I had some successes and some failures, yet there is no direction and zero certainty. I was disappointed. Turns out, I have to start from scratch, educate myself, read books, listen to experts and I did. I didnt skip investing.
I ate a lot of los at one time. But did not give up the investment. Forget trading, forget short-term gains and losses. I traded a lot and got caught, but for the sake of my future, I wanted to accumulate a small amount of this finite resource. I felt the urgent need to acquire a full bitcoin and I halved it. For the first time in my crypto journey, I felt a sense of certainty that I was lacking. So far I have been able to achieve half of it. This achievement of mine is a lot to me. Have I expanded my investment to achieve this? Yes. Would I personally be okay if it went to 0? Yes. This is a risk I am willing to take, and the more I learn, the more confident and more I make my investment.
Now that I have half a bitcoin, I need to cherish it. My next step is to make a bitcoin with it.
Wow, that's really a great achievement. Most of us have the same dream of acquiring 1 whole bitcoin for some reason. Even I have the same dream but at the same time I feel honored to hold at least a portion of it currently while still trying to accumulate 1 bitcoin. I will highly recommend you to stay away from unknown messages and keep your coins safe since there will be people trying to scam you. Those coins are precious and you should take all the steps necessary to keep it private and secure. |
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Looks like an old school style forum but at the same time I think the look and feel of the forum can be improvised a lot.
I am not sure if it will attract many users at this point of time but continue the development and keep improvising.
May be you could add some sort of mini games or something. I will definitely try it out once it is fully established.
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Yay, finally got my BTC prediction correct. I feel its safer to bet when the deadline is near  That's quite true. Even I follow the same strategy and keep waiting for the last 24 hours to make the decision. It happened the same this time as well and I was waiting on to decide which BTC price range to bet on. But I didn't find any good odds on BTC predictions and so I placed my bets on ETH price ranges and fortunately won. |
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I am not worried about 30% taxation. Rather I am happy that India government is finally recognizing cryptocurrencies despite the huge pressure from Banking lobby.
Also, please understand the calculation of 30% taxation,
You invested on 1 Jan 2022: 1000 INR
You sold on 30 March 2022 at: 5000 INR
Your profit: 4000 INR
Tax liability: 1200 INR
Now Indian crypto exchanges will have to bring in systems that can recognize this pattern and generate a capital gain statement for each investors.
However, it is a proposal and now it will be formulated and made a law through government notification. As far as I know, this is not going to take effect from this FY.
I would have liked more if taxation was according to existing tax slab with some sort of tax benefit if one is holding for long period of time, like 2-3 years but nevertheless its a good start and excellent news for crypto in India, hope they revise the tax as time progress. You are right. Taxing crypto with the current slab would have been really great but for now celebrating the legalization of crypto trading should be the primary thing. At some point they will have to reduce the taxation because it's totally unfair that they are taxing 30% for crypto gains while 15% - 20% on stock gains. Another thing is how would the government determine how much we should pay on the amount that we are already holding in our wallets ? What about those people who are doing jobs to earn crypto and services that are using crypto ? There's just too many uncertainties. |
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You are probably correct but I didn't wanted to risk the amount getting stuck in limbo for the sake of $1  It happened once when I put a low fee and the transaction was unconfirmed for more than 18 hours. I've had transactions that remained unconfirmed for weeks. As long as it's between your own addresses, and as long as you don't need the funds, it doesn't matter. Worst case, you can use RBF or CPFP to raise the fee a bit. Best case (and currently quite likely), it confirms quickly anyway. I wonder why didn't I think of that. I will keep this in mind the next time I am consolidating inputs. Thanks for the tip anyway. 1. Your funds don't "get stuck". They return to you after a while.
Do they ? I once read that a user had put a very low amount of fee for his transaction and the transaction remained unconfirmed like forever. How much time do you mean when you say "after a while" ? |
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With the fees of 3 sats per byte the total transaction fees was 0.00003248BTC which was around $1.25
You overpaid by a factor of 3  If you are consolidating outputs, almost always you are in no rush to get the transaction confirmed. Nowadays 1 satoshi/vbyte is possible 99% of days so you could have gotten away with paying 0.00001082 BTC which is roughly 0.4$ with today's price. You are probably correct but I didn't wanted to risk the amount getting stuck in limbo for the sake of $1 It happened once when I put a low fee and the transaction was unconfirmed for more than 18 hours. So I am kinda paranoid when it comes to transaction confirmations and don't mind spending a few dollars extra to get faster confirmations. But I do get your point and at the same time I feel its okay to spend 2000 satoshis extra while bitcoin is still under $1million per coin  |
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(small bump)
I remember reading this post last year and was waiting for a good time to consolidate all my inputs. Today, I used all my unspent inputs (12 inputs) and consolidated them into 1 unspent output. With the fees of 3 sats per byte the total transaction fees was 0.00003248BTC which was around $1.25 for consolidating around $800+ as per current prices. I guess it was worth it. Better to use this opportunity now than to keep paying large fees when the price increase again. Thanks @LoyceV for making this post and making us aware of using such tips for our benefits. |
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Well, look at us, bitcointalk members wearing signatures and/or avatars advertising this or that company. Of course we are paid for that, but do we write everything to advertise the sponsor? Far from that. Check it out yourself. Let me assure you that it's possible in some cases to be paid and stay not biased at the same time. If you mean most of the journalists are biased, then I agree. I just don't like generalizations. I mean, not all bitcointalkers, even those with no ad in their signature, are good, and not all journalists, even those sponsored by corporations, are bad, or, biased, if you want.  You mostly right, but there are some moments that can differ. First of them is the reputation of the company. If the company is about scam - even the best of us can get negative trust and disapproval from other members. That`s why it is important(for me at least) to find a company with good repatation.The point you are stating (while its true) is different from what Betwrong mentioned. You are correct that we might get negative trust if we promote a campaign whose owners are fraud and it makes sense because it will encourage more scam and as a candidate we should be aware of what we are promoting. But at the same time the signature campaigns never mention that we should only speak good about the products we are promoting. This eliminates biased judgements which was the point at the first place. Second - when i found out bitcointalk - i thought that "hero" or "legendary" members wearing signatures of the projects they believe. In this way we are responsible to newbies that believe in signatures.
That's an honest mistake When I was a newbie I though it's just normal ads that get popped up on any website. Little did I know they are signatures willingly worn by the users. |
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Stay for awhile in the forum and read the scam and reputation threads of casinos being accused because accusation threads are full of details and warning in choosing which casino to play on. Its the first to check if you are a newbie in wagrering in crypto casino. The KYC or the status of customer clients are just minor issues you'd consider when rejecting a casino on your list.
You are partially correct because the scam accusation board is a good way to know which casinos are having customers with bad experiences. But at the same time we must know that the only those users who have bad experiences post in that board. A casino generally has satisfied users as well and we shouldn't rely only on the bad reviews. We can take those negative experiences as one the factors but we should also research and read about the positive experiences as well. So a casino which has less positive reviews and more negative reviews are the ones which should be avoided at all costs. |
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Well, we will have to wait until the proposed bill will be taken into action. There are too many clauses which are still undefined.
We will get to know clear information only when the taxation is started and people start paying taxes on crypto incomes.
One thing that I am astonished to see is that people are actually worried about the 30% tax applicable on crypto income.
But they are not acknowledging the fact that this paves the way for India to legalize crypto trading in India.
This might be the huge break that we needed from all the negative news about crypto in India.
May be we can win the battle of reducing the taxation towards crypto income some time later.
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Highlights on Virtual Digital Assets Taxation- India to launch digital rupee by next year(This is into discussion long back itself and some trails were going on with the country's CBDC)
- 30% tax on income from transfer of virtual digital assets such as cryptocurrencies and NFTs(This looks to be very high and no proper statement is revealed on the legality of cryptocurrency)
- 1% tax deduction at source on payments made related to purchase of virtual assets(Users who have already part of the centralized exchanges will suffer)
- No deduction in respect of any expenditure or allowance shall be allowed while computing such income except cost of acquisition. Loss from transfer of digital asset cannot be set off against any other income
- Gift of virtual digital asset is also proposed to be taxed at the hand of the recipient(One way or the other through heavy taxation government try to have control over the market)
Source : India proposes 30% tax on crypto and NFTs income I was about to post this information here but you made it first. Well, this news was quite surprising to me but at least it brings some positivity to the table. Although 30% from the net profit is a large share to give to the government as tax but at the same time it shows that crypto trading will be legalized in India. In my perspective, the first thing to do is to get crypto trading legalized and it seems that we are one step closer to this goal. The next step would be to make the government decrease the tax percentage on net profit which can happen after several debate over the next few years. I am particularly happy for the fact that amongst this dump, India is trying to shine some light over legality of crypto trading. I "hope" this creates a chain of positive events for cryptocurrencies and we never see this bottom again. |
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This is really a good achievement by the crypto community. The developers and writers as well as the translators are doing a great job.
More number of people will be able to understand the technical concept of why and how Satoshi Nakamoto create Bitcoin at first place.
This would also encourage many other people to contribute towards bitcoin core and translate the white paper into many other languages.
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Range Odds bet amount Return 2000-2500 4.42 0.00000700 0.00003094 2501-2750 5.19 0.00000700 0.00003633 2751-3000 5.97 0.00000700 0.00004179 So my total investment is 0.00002100 BTC and if I am lucky I will bet a return of 0.00003094 BTC - 0.00004179 BTC I did my calculations well before placing the bets That are nice odds and you will get some nice profit out of it, congrats! Looks like I won The price was in the range of $2501 - $2750 with an odds of 5.19 I received 3675 Satoshis and I am thinking to buy more FUN tokens using them.  |
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I have been thinking about this for sometimes.
If the metaverse becomes a reality, what will be the significant roles of crypto in its economy?
If crypto such as bitcoin, Mana, Sand are used as means of transaction in the metaverse what will be the reaction of the government?
I personally think that the Metaverse does not belong to one entity and so no government would have the ability to control it as well. Every entity in the Metaverse will be an owner of it's own. Just like how the crypto community has many projects which are the owners of themselves. They will have their own blockchain and their own coins. Similarly, the Metaverse will operate on it's own as it becomes more wide stream. It will have projects launching and coins for every store, game, products, services etc... There will be some coins like BTC and ETH which might be widely adopted throughout the Metaverse. That would itself be a great achievement in itself. |
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Every time the market is green, we see a lot of youtube and social media influencers come out to guide people and to predict the targets for bitcoin and altcoins. But as the market dumps, we see no sign of these moon boys. Why don't they come to advise us in the these times.
Maybe they are unable to face the public because they have given too much unrealistic hopim to the people ?
They might be busy in crying out in a corner. Obviously nobody can predict the market accurately. The Youtubers and the moon boys would not have expected the crash and so they would not be coming into the limelight these days. But at the same time, there are also people who say "I told you bitcoin would crash" when the market is dumping and then vanish when the market goes green. |
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I've been giving this a lot of thought lately, Which kind of business model would you prefer, will you prefer the kind of business where profit can be from both the rich and poor, that is huge profits occasionally and small profits daily?
Or the the sort that only attends to the rich, and the poor cannot afford it, that is your profit is from the rich alone and usually huge, and comes occasionally?
Please give reasons for your choice
The choice is quite obvious for me. I would personally choose the first one with rich as well as the poor. This way I would be able to attract many eyes towards my business and it just won't depend on a few people. In terms of crypto, it would be more decentralized to hold many small peers than to hold few big peers. It might not yield as big profits as the second one but it sure would be safer and securing the capital is my primary goal. |
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I think that staking is a good way to make you some passive income, for me, staking is just hodling but has a much better reward than just hodling. It's not for everyone though as staking requires you to have it locked for certain period of time so if you have a low risk tolerance then there's a possibility that you might not like staking especially if the token you're staking is going down.
Those two reasons are the reasons why many people are still hesitant towards staking their coins and I cannot agree more to it. Locking up the coins is definitely one of the biggest disadvantages because we cannot benefit out of the sudden market movements. Even I have staked some amount in SOL but it takes around 3 days or so unlock it from staking and then withdraw it. 3 days are good enough to lose enough profits from the sudden market movements. Staking is definitely not for everybody. |
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You have that good intention mate. Preparation is really important as we never know what gonna happen to us. But if you have a huge amount and enough to run for a small business, that is much better than just holding your money. That I guess it was more helpful and even profitable, and you can't just feed your nephew alone but also the others. Honestly speaking $100 would still not be sufficient for education by then. 18 years is a long time and just imagine what would be the education cost by then.
Even if we consider that bitcoin goes 100x from now which is itself a big deal according to me, it would still give out only $10,000.
Do you really think $10k would be really sufficient for education after 18 years ? May be in a mid level college then yes but otherwise a big no.
With the market inflation, 18 years from now that $100 will become $10, I think. Maybe if we invest in crypto that possibly doubles the amount but still it was too small to consider for long-term investment. Maybe, if OP could add more at least $100 per year, that is already satisfying. Yes ofcourse, that would be really a good investment if OP could afford to invest $100 every year. In 18 years the total capital invested would be $1800 and if everything goes well and with the power of compounding we assume the returns become 100x then OP might get good returns. $180,000 would be a good amount for education at that time and may be he will be able to save some too from the returns. |
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Did you guys place any bets for BTC or ETH price prediction for this month ? Although the price fluctuations were high in the recent days I have managed to find few ranges to bet on. BTC price ranges were not having a good returns and so I switched on to ETH price betting for this month. I have covered the ranges from $2000 - $3000 and I think ETH will stay in this range by the end of this month.  While the volatility is indeed high, the chances you will win this bet is quite high as January is ending in 2 days and I doubt that we will see a massive drop or increase. Right now the price is hovering around 2500$. What were the odds for the 3 ranges? Range Odds bet amount Return 2000-2500 4.42 0.00000700 0.00003094 2501-2750 5.19 0.00000700 0.00003633 2751-3000 5.97 0.00000700 0.00004179 So my total investment is 0.00002100 BTC and if I am lucky I will bet a return of 0.00003094 BTC - 0.00004179 BTC I did my calculations well before placing the bets |
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Arbitrage trading must be really tempting and gaining profits from short and quick trades is like a dream for many newbies.
But unfortunately, things are not that easy. If it would have been that easy then everybody would have been doing that.
Even I had tried Arbitrage trading back when I was a newbie in trading but what I learnt from experience makes me never wanna do it again.
It's very common to find out that by the time you transfer your coins to that particular exchange to gain benefit of arbitrage, the price difference gets settled again.
This has lead to paying transaction fees unnecessarily. To gain potential benefits of arbitrage trading you should have accounts on many different exchanges with some amount of money in all of them.
This way you don't miss out on the time it takes to transfer the coins and paying unnecessary fees.
Eventually, I don't think there is more profit in Arbitrage trading these days since most of the exchanges don't really have huge differences in prices.
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