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The emphasis is more on Ruble and Gold but if they have to then they will also consider Bitcoin as a mode of payment that what it meant. We need to wait and watch in this situation. It is still not certain that Russia will accept Bitcoin. In the past too Gold was preferred by oil producing countries which led to the Gulf war at that time Bitcoin was not invented. If that happens then it will be a great news for Bitcoin.
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This line makes it quite clear that no set off will be allowed against any gain that you have made in cryptos.
Thank you but webtricks wrote: The clause (a) made it very clear that nothing is allowed to be deducted against the profit earned from crypto trade except cost of acquisition i.e. the buy price. However, clause (b) contradicts the above clause. It states that any loss from the crypto trade cannot be set-off against any income under any other provision of the act. The term 'other' here signifies that loss cannot be set-off against any income other than the crypto income which means that the loss from the one trade can be set-off from the profit made on the other crypto trade.
My take: Investors will be allowed to set-off losses from the profits and they will only have to pay tax on the net profits earned during the year. The clause (a) has a typo and most probably will be rectified and the term 'other' will be included in the first clause as well when the act will be enacted in March 2022. Like I said earlier, there was a typo in the bill and government corrected the same in the final draft of the bill but guess what, the correction is entirely opposite to what I was expecting. Instead of including the term 'other' in the first clause, government has removed it from the clause (b) as well. Here's the copy of the final bill amendments:  So, the bottom line is we can no longer set-off losses from the profits. Government will only consider absolute profits for the tax purposes which is highly inappropriate and as a member of Indian Crypto Community, I will try to oppose it. But as of now, this is the legal position from the government. To an extent, it clearly indicates that the government is discouraging cryptocurrency trading. If you incur loss you still need to pay 30% tax because you invested the amount in crypto. This will encourage illegal trading and will come as a shock to the government as they will be helpless in stoping such activities. |
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My signed address. Please quote and verify. -----BEGIN BITCOIN SIGNED MESSAGE-----
I am pakhitheboss signing a message on 3/25/2022. My profile link https://bitcointalk.org/index.php?action=profile;u=1911471
-----BEGIN BITCOIN SIGNATURE-----
Address: 33xdfeY9aUU29fqky8Wg6AEL3NeJRj6Xu7
IPykgM77oBVT0QtWV2gHeZlbJ1xgIqeAbRavyMS0PqbHGrK4MnVnY7liuJ5K1IeQruJIQd5e/Gm7adgNGfvSoqs=
-----END BITCOIN SIGNATURE-----
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Request For a No Collateral Loan
Required BTC Amount: 0.005BTC
Estimated Loan Duration: 2 months
BTC Address: 33xdfeY9aUU29fqky8Wg6AEL3NeJRj6Xu7
Signed Message:-----BEGIN BITCOIN SIGNED MESSAGE-----
Hi. I am pakhitheboss from Bitcointalk forum. I am requesting a loan of 0.005BTC from Darkstar_. Today is 03/24/2022
-----BEGIN BITCOIN SIGNATURE-----
Address: 33xdfeY9aUU29fqky8Wg6AEL3NeJRj6Xu7
IDeakAaOK1NL2jvh+dI49mKF+HybBzYv94kqG7ewr9ZNJR+fLYoxSwZJb0BbgpP7PTerSOIFAIxM6OXEkell4+o=
-----END BITCOIN SIGNATURE-----
This is the default address that I have used for more than two years now - https://bitcointalk.org/index.php?topic=5088858.msg51573384#msg51573384 |
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Frankly this exchange name is preety weird. I was in the impression that it might be another DEX where you can swap your token but when I visited the website I was suprised to see a CEX and they do not have any social media links or privacy policy. I am not sure how it appears on desktop devices as I was using a mobile device. When you click on any links it is asking to register. It is good to stay away from such an exchange and use others that are known and trusted.
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For long term hodling always use a hardware wallet. If you do not want to do that then store your Bitcoin in a desktop wallet. Being a closed source wallet doesn't necessarily mean that it is a bad wallet. Ledger hardware wallet are also close source but are the most recommended hardware wallet. You can read this article to find the reson why Trust wallet was removed from the Apple store. |
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I haven't got an opportunity to spend crypto for a product yet. Maybe in the future it will be possible to do it in my country. Cryptocurrency regulation in India might happen this year and after that many new projects would pop up offering service and product for cryptocurrency. At the moment I have to use fiat to buy anything in my country. I know that there are a few services that I can purchase from global vendors but at the moment I do not require those.
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I just checked your email submission form and Inam not sure why you need to know the country and the city of any individual who wants to be part of your platform. A preferred username, email address and name is sufficient in my opinion. Country and city based classification are mostly needed for marketing purpose.
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I think in school they should start teching about Blockchain technology, the benefits of decentralized economy and Bitcoin rather than simply discussing about cryptocurrency education. To justify my opinion let me list three basic key points. - Blockchain technology is the backend of any cryptocurrency project.
- Decentralization and transparency are the key pillars.
- Bitcoin is the first crypto and kids need to know from where it all started.
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In my opinion, except for the signature and Articles campaign, all other campaigns are a waste of time. Above that finding, a good bounty is not that easy as most of them are scams. What you can do is to join a bounty campaign that is being run by the below Bounty managers as they have a good reputation and a lot of experience in handling bounties on Bitcointalk. Well, maybe each member has their own view regarding top bounty managers in this forum. But I can say that those bounty managers who handle some campaigns on the "services" section, has a better reputation than others. You can take a look at their ANN services or contact them directly. Here is the list of some top bounty managers in my opinion:
1. Hhampuz
2. yahoo62278
3. DarkStar_
4. Coolcryptovator
5. CryptopreneurBrainboss
6. Murat
7. roycilik
8. sujonali1819
9. Zwei
10. TalkStar
11. Etc
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This topic should be shifted to the altcoin board as we are not discussing about Bitcoin here but Bitcoin cash. This will be a disaster for this small country. I am not sure what made them think about it in the first. The lawmaker sees Bitcoin Cash as “a viable additional means of commerce, transacting and savings”
I am still confused from where did he conclude that it is a viable means for commerce and savings. |
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Hello Hhampuz I became a Sr Member. Please place me in the queue for the next open position for the same. Thanks  |
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One thing which I always do before downloading any Android app is to read the about app information. It will not only provide the details about the app but also the website link and social media links. It becomes easy to verify an apps authenticity by verifying the website details and checking the updates being shared on social media by them.
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1. Attacker might able to steal private key after user make a transaction from special address,but how do you plan to prevent this accident?
Through a transaction hash or wallet address, attackers cannot find the private key unless a user reveals it or it has been accessed using malware on the device and through a phishing email. Read this to know the Recommended wallets 2. How do someone veto a transaction which made by attacker where we can verify who's the owner or attacker without compromise owner privacy?
Once a transaction is made you cannot amend, recall or cancel the transaction. 3. Assuming a transaction is reversed, that means blocks would become invalid since it's hash (along with all next blocks) will become invalid? How do you plan to solve this problem?
As mentioned above you cannot recall a transaction once it has been processed. |
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One of the most common phishing emails that anyone will receive is to verify their Metamask wallet.  Any newbie can easily fall for the above scam. They use the KYC trick to lure newbies to click on the blue button. Be careful with such emails and delete them whenever anyone receives such mails. |
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In my opinion SOL, ADA and ATOM are under valued at the moment. This is the right time to have these coins in your portfolio. You also can stake them while hodling so that they generate enough profit when you sell them in bull market. At the moment all of them are way below their ATH.
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Accepted Congratulations on your Sr.Member rank. Good Luck  Thanks once again! |
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