The crypto situation in India has been on and off for the last few years. We are already fed up of these repeated judgements from the court. To be honest it doesn't really matter now whether India accepts crypto or not because we still keep using Crypto now that P2P exchanges have been well established in India. Even if they don't accept crypto, people will still be able to use it. So it would rather be more favorable for India to just accept crypto and regulate it.
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Yeah I have heard a few months back that someone's bank account got freezed due to a crypto related bank transfer. I have always imagined what if I get into such a situation and had myself prepared for that already. What I did was to create a bank account just for crypto related transfers and had my main account away from such transfers. When I receive the amount from someone I transfer it immediately to my main account. So even if my account gets freezed it will only be my secondary account that gets freezed while my main account remains intact. So far things are going smooth and I have never got my account freezed ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) Still officials can find those bank account belongs to who and if it is owned by the same individual then you are still under the risk of getting frozen and after the Aadhar implementation the tracking becomes more easier to them. That's exactly where you are wrong. Yes, officials do have the ability to track an individual but they don't track just any individual for crypto transactions but if the person is involved with some kind of illicit activities such as selling drugs, money laundering, scamming, fraud only then they track the person and freeze all his accounts. The other thing where banks freeze the accounts is when some particular bank is against crypto only then they freeze the account and in such case only the particular bank account gets freezed. Not the other bank accounts because they are not under the same bank. This is why it is important for us to open bank accounts in DIFFERENT banks. Banks simply don't freeze the account just because it involved in the crypto related transaction since there is no restrictions now in India against crypto currencies.So you need to assume that you account connected to somewhat illicit activities as you mentioned above with or without knowledge of you. Example: Someone hacked a bank account, Create an account on localbitcoin with fake ID and mobile number (because its easier to get in India) Buy bitcoin by responding to different ads on LBC Now hacker still being anonymous but laundered the hacked money into bitcoin Finally the trader of LBC will be accused of hacking that bank account. Is it clear now, why people's bank accounts are locked? Bro that is exactly what I mentioned. Why are you explaining the same thing to me ?
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Yeah I have heard a few months back that someone's bank account got freezed due to a crypto related bank transfer. I have always imagined what if I get into such a situation and had myself prepared for that already. What I did was to create a bank account just for crypto related transfers and had my main account away from such transfers. When I receive the amount from someone I transfer it immediately to my main account. So even if my account gets freezed it will only be my secondary account that gets freezed while my main account remains intact. So far things are going smooth and I have never got my account freezed ![Grin](https://bitcointalk.org/Smileys/default/grin.gif) Still officials can find those bank account belongs to who and if it is owned by the same individual then you are still under the risk of getting frozen and after the Aadhar implementation the tracking becomes more easier to them. That's exactly where you are wrong. Yes, officials do have the ability to track an individual but they don't track just any individual for crypto transactions but if the person is involved with some kind of illicit activities such as selling drugs, money laundering, scamming, fraud only then they track the person and freeze all his accounts. The other thing where banks freeze the accounts is when some particular bank is against crypto only then they freeze the account and in such case only the particular bank account gets freezed. Not the other bank accounts because they are not under the same bank. This is why it is important for us to open bank accounts in DIFFERENT banks.
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I believe protection against 51% attacks isn't only solved in a technical level. There's something else holding everything together in the network. There's also the incentives placed to keep miners/mining pools honest.
That is correct. Satoshi actually briefly mentioned the fact that a miner would gain more by being honest than if they were to attack the network. I doubt it would be easy to solve it on a technical level without compromising the trustless and decentralised part of Bitcoin. I would love to read up on solutions that could potentially do it without compromising them but I've yet to come across any. Yes that's right. I did read that part where Satoshi mentioned that if any party did get to implement the 51% attack successfully and do try to reverse a transaction or chain of transactions then the cost of reversal process would itself be so heavy that they would rather choose to continue mining in the longest chain rather than initiating the reversal process. This will force the miners to remain honest. So the point of doing a 51% attack is actually pointless.
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DeFi is really becoming a great hype these days as more number of projects are coming up lately. I was reading a DeFi related article on coinmarketcap today which mentioned that DeFi has a great potential and if is implemented in healthcare then that might attain a trillion dollar market. DeFi and healthcare: A trillion-dollar opportunity for the taking Though I agree that DeFi has become a trend and does seem to have a potential, there are teams who are using the DeFi hype and creating unwanted DeFi projects. There have come many DeFi projects which don't even seem genuine so I would advice to do a through research before investing in any DeFi related project.
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If most of the bounty programs start paying in bitcoin/ether then yeah the scamming is about to stop. Yes there are bitcoin paying twitter campaigns coming up but that doesn't mean all the bounty programs will start paying in bitcoin. The bounty hunters will have to unite here and stop joining the bounty programs that pay in shit tokens. If everyone stops joining token paying bounty programs then the project team will have no other option. They will either have to stop their project or will have to pay the hunters in bitcoin/ether. But as we all know it's highly unlikely to happen because there are people who will just join any bounty program without even looking for the project potential.
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Yeah I have heard a few months back that someone's bank account got freezed due to a crypto related bank transfer. I have always imagined what if I get into such a situation and had myself prepared for that already. What I did was to create a bank account just for crypto related transfers and had my main account away from such transfers. When I receive the amount from someone I transfer it immediately to my main account. So even if my account gets freezed it will only be my secondary account that gets freezed while my main account remains intact. So far things are going smooth and I have never got my account freezed ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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Cryptocurrencies such as bitcoin are not controlled by anybody and hence there are people who misuse it. Though there are people who do use it for the positive aspects, the negative aspects come into the limelight. This is why the Governments are against it since they want to protect their civilians from it. There are also other reasons such that the Government can't control and hence they prohibit it's use in their country. If all of us start using crypto for the positive aspects and if it over powers the negative aspects only then we might see all the Governments approving it.
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We can't really say one is better than the other because both trading and staking have their own advantages and disadvantages. Staking does bring us the benefit of getting more coins but if the price of the coin goes low then all the staking rewards are drowned. Similarly trading coins at a wrong time will drain all our profits too. Both have their own pros and cons.
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The number of bitcoins sold on the Bakkt platform on Tuesday was 15 995 bitcoins, which is also a record.
I guess this is the result of the non-stop growth of defi projects. There are too many investors who are now back because and have an interest in this defi projects that keep growing. Who said we had a non stop growth in DeFi projects ? We did see a correction recently in the DeFi projects and few DeFi tokens even decreased by more than half. May be now people are reinvesting their money in DeFi projects or may be they are investing in other tokens. The increase in volumes show that people are investing their money in cryptocurrencies. This does looks like a good news and a signal for the next pump in bitcoins price.
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While these tips are good and will help the newbie traders, I think that only practice can make them better at trading. Experience comes through regular practice and we tend to make many mistakes through the process which makes us learn and grow. My only advice to newbie traders would be practice daily until you master it and then start the actual trading.
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If I would have found out his identity I would certainly not reveal it to anybody because that would just create a panic in the community. It might turn bad for bitcoin, you never know. The most important thing is it would bring Satoshi and myself into the limelight and who knows what that limelight may bring for us. There are many people who are against bitcoin and if they come to know about it then both of our lives would be in danger. Also, bitcoin is going really good without Satoshi and I would like it to be that way.
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Bitcoin is something that no individual can control and that's why Government cannot kill bitcoin. But yeah they can still restrict people from using it by establishing laws against bitcoin in their country. To be honest, Government won't be able to gain anything by regulating bitcoin and many Government's have already accepted it because they know that they can profit more out of bitcoin if they simply accept it and legalize it in their country.
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Obviously that had to come into limelight since the total amount is about $15.2 million which is a lot. The 2 BTC unverified withdrawal limit was considered good since it helped to keep the anonymity aspect of bitcoin safe but hackers have used it to their advantage and I am quite sure now that the lawsuit is raised this limit will be removed too. Now onwards people will have to do a KYC just to create an account on Binance and I guess other exchanges will follow the suit. Binance should have thought a work around for such an attack earlier since it is quite obvious that even if a hacker tries to create 500 fake accounts and uses 2 BTC unverified withdrawal for each account then he will be able to withdraw 1000 BTC without any KYC.
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In the below video at 33:42 min Charlie Lee says that Litecoin (and Bitcoin) can be censored if the Litecoin was previously used in illicit activity. https://www.youtube.com/watch?v=C_pTOomVtI8Were there any Bitcoin transactions that were actually censored in the history of Bitcoin? Thank you It actually depends on what type of platform you are using. For instance if you are on an exchange and if you are doing some illicit transactions such as purchasing guns/drugs on the darkweb and sending your bitcoins from your exchange account to that dealer's address and if the cops trace you down or if the exchange finds that out then yes your account might get blocked for illicit actions. But if you are using a wallet such as Mycelium/Electrum where you own the private key of your bitcoin address then you don't need to worry about getting blocked. You can simply create a new address every time (these wallets automatically does that for you actually) Note : Information provided above is just for Educational purpose.
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Why do you think that the corona virus vaccine will make bitcoin crash ? While it does seem like a possibility that the people will start investing in stocks again to grab the opportunity to gain high profits when the economy recovers but that doesn't mean bitcoin will crash. The price might fall back a little because there are people who switched to bitcoin in the pandemic and they might return to stocks but more than that it is those people who hold and trade bitcoin from a long time. They won't panic sell their bitcoins and hence it is quite known that bitcoin will not crash but might dip a little. Besides that we have seen bigger crashes through the bitcoin history. It can't get worse than that ![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
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It's the gas that is getting too high in price. It's all because of the DeFi hype that the network is getting so congested. But lately many DeFi projects are doing exit scams which is making the market very unstable for DeFi tokens. I think we should wait for the DeFi hype to settle and the transaction fees to reduce. If you have really invested in a potential DeFi project then you need not worry but wait. Otherwise it might be a trouble since people are already in a panic due to the recent exit scams of shit DeFi tokens.
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It's a really good thing that the owner is feeling guilty and has apologized for his behaviour. It takes huge guts to accept a mistake in front of such a large community. But this doesn't mean that you guys should trust him again and invest in Sushi blindly. This is where you should pay focus. Take out all your money or most of it and invest in a potential coin. If the scam has happened once then it can happen again. If not the owner it can be someone else from their team as well. You money lies in your hands now. Let the DeFi hype settle and then decide whether to invest in it again or not.
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Sounds like 2018 and ICO tokens getting dumped I had already expected this since the DeFi hype was going quite similar to the ICO hype. The difference being that those who were aware of the ICO hype backed off this time which is why the DeFi hype didn't last longer. I think sooner or later most of the DeFi tokens will be dumped and only a few tokens with real potential will survive this DeFi dump.
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Dude that's some insane amount of fees to buy/sell BTC. Since you are struggling so hard to buy/sell BTC you should consider doing KYC at one of the most reputable exchange and then use it for regular trading if that's your goal. If you are willing to hold your coins for a long term then you can buy BTC from a known person or may be some on this forum or you can also try a P2P platform like Localbitcoins. Localbitcoins link
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