Does anyone of you guys know a reliable CA to get my taxes filed? I've got 2 CAs in contact but they don't know shit about BTC and what they know is all negative, so they speak the same
This is a problem you will face when you are approaching a CA who does not have any knowledge about BTCitcoin and all they know about is from the media and it is hard to make them understand, all you need to tell them is to file the income you earned from BTCitcoin as income from short term capital gains depending on the amount or you can file under income from other source, these depends upon the amount of money you are getting in your bank account, the rest i will explain in TG on how i filed the taxes so that you will get an idea on how to proceed. But? When RBI issued ban on crypto related transactions,filing the taxes using the bank account statement might let us in the risk of getting account freezed right? No! There is no provisions made in the tax return form to show your crypto earnings! So you can simply show your earnings as a freelancing income! There's no way to define your earning as crypto earning! This way, your account will not be freezed! Freelancers can earn through any path, it can be paypal, it can be moneygram or anything else! Doesn't really matter! |
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I'm thinking about how to be qualified as a professional trader, There's a web site that I found on ads and it's called Etoro. On the website they allow users to copy a certain trader's portfolio and the website show the trader's current growth.
My question is how can a certain website know if you are qualified as a professional trader? I don't think the portfolio is enough to be trusted because it is easily manipulated by some editing skills.
Copy trade is somewhat popular in forex market. Apart from Etoro, there is another broker called FBS which also allows users to copy other's trade and I have tried it on FBS itself with a small amount of money! But the result was a disaster! I lost all my investment within 3 days! However, there is a very simple process to become a trader in FBS. Just check the below link, https://fbs.com/trading/copytrade-for-tradersOnce FBS approves you, your trade patterns will be open to the public and they can start copying your trade. In exchange, you will get 5% of their total trade volume as reward. I don't see restriction to become a professional trader in FBS. Etoro must be having similar policies as well! |
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PSIGEN; A.I trading bot
An A.I trading bot that generates daily earnings in Bitcoin without the users having to do anything.
“How is PSIGEN different from other trading bots?” PSIGEN is integrated within one app; enabling users to benefit from PSIGEN while enjoying other Everus Wallet app features. Why does it sounds like Plus token to me?? Anyone else having similar feeling or is it just me? A.I trading bot is just a myth, doesn't exist in reality! If such bots really exist, we can eradicate poverty from the face of the earth! I pity of those stupids who believes in fairytales! |
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This kind of steps of IRS will do more harm than good! If cryptocurrency gets a special place on the tax filing form where every tax payer has to answer certain questionnaire, it will create unnecessary panic to the common people! Even if it will increase the visibility of cryptos among them, but such special mention kn the tax form will force them to think negatively about it! IRS is just running the game for US! |
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What kind of products will Starbucks launch later?
crypto for payment, or what?
I'm still confused about this. if it's a payment instrument, it might be good. but it is important to know that each country has different regulations. and if it's about crypto, is it possible to become a global payment and can be used at Starbucks anywhere in the world?
Starbucks is just adding bitcoin as a payment method! They are not launching any crypto related product! Even though they are a global brand, but they have separate entities set up for different countries. For example, they are registered as Tata Starbucks Pvt. Ltd. In India. In Japan, they are registered as Starbucks Coffee Japan Ltd. Similarly they have separate entities for each region! So they may be testing the bitcoin oayment feature in US at this moment. But later if the legal scenario changes for better in other countries, they wouldn't mind rolling out the changes everywhere! |
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The article talks about facts! Let me summarize it for you all!
India is lossing opportunities big time as a lot of young business owners are still waiting for the regulatory uncertainties to go away! RBI and policy makers have already thrown away few good companies like zebpay, Unocoin from the economy and zebpay moved to Singapore to continue their business! So new entrepreneurs are not willing to take further risks during such uncertain times, rather they are considering foreign land to start their business and foreign exchanges are eating out a big chunk from the pie!
Not sue what is meant by Golden age by the author! It's no golden age, just dark times for crypto communities in India!
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at this time we know that the Blockchain is being discussed in large countries. and some time ago the Chinese president was welcome on Blockchain. But what about Bitcoin? there is still a lot of controversy going on. Even the US (SEC) is still rejecting the given bitcoin proposal. while we know. Bitcoin is the first carrier of Blockchain technology for general use. is it because of the basic bitcoin that has an anonymous background? so it is difficult to be accepted by the state. could bitcoin be separated someday? I mean Blockchain will be positively welcomed in the world. while Bitcoin will remain controversial.
share your opinions.
Bitcoin is indeed difficult to be adopted within mainstream economy if we look from an orthodox outlook! Governments with progressive mindset are adopting it, Japan and Germany are two prime examples! Examples of orthodox government, consider India, China, Bangladesh and so on! Pseudo anonymity of bitcoin is indeed a major bottleneck as seen by many countries but that can be regulated if needed! Which can drastically bring down the risk of money laundering and illegal activities. Again, it all depends on the leader of the country. Blockchain is a different matter altogether! Countries with negative outlook towards cryptos have also spoken highly about blockchain! So it has already been separated because they are not even correlated! What I believe is that, bitcoin will remain a controversial topic for few more years to come while blockchain will be seen used widely in various areas of governance and administration! |
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There are two important aspects of the news,
1. It is a physically settled fund. It means, the investments will be redirected to the market and physical bitcoins and other cryptos will be bought as per the pre specified allocation. So the market gets liquidity.
2. It is a closed ended fund. It means, once an investor invests in it, the fund will be locked for a specific period of time and the investor would not be able to withdraw it. That is very significant because it will reduce the short term speculative actions on crypto market coming from this fund. Buying and selling will be done at a specific interval.
Great news for the crypto market!
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It is very possible that bitcoin will lead to an increase in surveillance of payments and transactions. Where cash is being systematically phased out by governments, what will take its place, naturally, is an electronic form of cash which is more readily traceable. The powers that be desire the ability to aggregate large amounts of data and form predictions of behavior based on spending patterns. Money, as a language, is a very telling indicator of where people are placing their intention and their purchasing power. The political establishment will do whatever it can to ensure that users of electronic currency (and bitcoin) are tracked, controlled, and if need be, chipped. Make no mistake about it, if the current political trajectory does not change, the political establishment will have their way and the surveillance of payments will be here very shortly. For those who do not comply or submit to authority, their representation on this electronic network will be switched off like a light switch. Although the nuances remain undetermined, what is clear is that bitcoin empowers cashlessness. It also risks being co-opted by large mining operations. Central banks are looking at issuing their own crypto-style currency, but who will choose these over the original implementation of 2009? There are many known unknowns in the bitcoin industry. However, what remains clear is that we have an era of total surveillance ahead of us, and bitcoin is one of many technologies which empower it. It's a very well thought scenario and I wouldn't dare to disagree here! However, bitcoin is here to empower the thought only but in practicality, it's super hard to implement in bitcoin or on any other cryptos. The government created currencies will not be the same for sure and it will be like a bank account. You will be assigned an account number after proper KYC and you have to use it for every transaction, the way we use internet banking today! So there's literally no change in modus operandi! It will just add some convenience in transactions and that's it! Surveillance will obviously be there loke the way we have on our bank accounts! |
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Hello Everyone, today i will be dropping some hints with regards to the New Model in the Crypto Space and i think this have the possibilities as well as the capabilities of replacing the Initial Exchange Offering (IEO). Remember in the early days we have to queue up, set our alarm in other to participate in the Initial Coin Offering (ICO). But since 2019, there have been a shift in hands whereby IEO becoming the other of the day by replacing ICO's. I came across Initial Model Offering (IMO) and i think this too have the possibility of taking over from IEO come 2020. This might definitely be the new revolution because of the way it is being design... Now this takes us to "What is IMO"?IMO is the revamped "IEO" that continues to be privately funded as the project progresses, which varies from 3 months, 6 months, 1 year, or even longer as the project continues to developed. In this way, exchanges and investors can continue to withdraw as the project progresses. Phased batch investment greatly reduces the investment risk of investors. At the same time, the project party is encouraged and supervised, so that the project can develop healthily and ultimately return investors. Therefore, each project needs to be excellent enough, and the IMO Eco-Platform will strictly control and take certain guarantee measures. The beauty about IMO, Unlike IEO that occurs in the wallet itself. Rather, the IMO Ecology consists of two(2) parts; the IMO wallet and the IMO exchange. The IMO Wallet: This can be used for digital asset storage and IMO Private equity investment. That is the presale occurs in the IMO wallet App. The IMO Exchange: This is a trading platform where you can exchange/trade your digital assets. All tokens/coins being sold in the IMO Wallet App are automatically listed in the IMO Exchange. More details about IMO can be found here: https://www.imoex.top/ICO, IEO and now IMO! Lmao!! Private equity market in cryptospace is suffering due to the lack of credibility. We need address that issue first! Otherwise nothing can really save it from dying! This IMO is just an altered form of SIP from an investor's point of view, but with some little tweaks and heavy jargons! Not all aspects of decentralization is great! To bring back credibility in to ICO market, we really need a centralized authority which will verify, regulate and protect consumer interest in this market! Otherwise, even the top MBA brains will fail to attract investors in this market within a year or two! |
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Any market that is not regulated, is prone to manipulation! Crypto market is also not beyond the reach of such risk! Especially when cryptos don't have much real world applications, majority of the cryptos are being used either in gambling or in trading! That's how the market and its participants are surviving! And the fluctuation jn price actually provides lot of opportunities to a trader to make profit if he/she knows how to play it right! But you know, loosers will always complain!
If you really want to thrive in crypto economy, you must cut down listening to all type of speculations from different people. Stay focused and use your own brain!
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Think it's 50/50. What about you?
How would anyone know about it? And why do you want to rely on other's speculation? Try to track bitcoin's price very closely because bitcoin's market dominance is around 68% right at this moment! So when bitcoin shows a bullish sign, majority of the alts should replicate the same behavior and vice versa! That's the best way to speculate on alt season! |
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I have about $1k in local currency (Russian ruble) and I strongly believe that this currency is not the best choice to store money for long periods.
As you might know, there was a Crimea occupation done by Russians about 5 years ago. This was followed by sanctions USA and EU put onto Russia. After that ruble devaluation started. It actually could be stopped by now, at least hindered, as some serious people say, but the Bank of Russia(local fed) doesn't do anything. Though it must and has all resources to.
I suppose I will convert it to either btc or usd, I can't choose what is better... maybe I have to store money %50 in btc and %50 in usd... but I read somewhere there can be another global financial crisis soon... perhaps I could only store it as btc, I know there is a lot of people in Nigeria buying btc because its currency is hyperinflated and majority of population there don't have bank accounts. Well, the policy of Bank of Russia can also lead to unbanked population due to the fact there are lots of banks blocking all "suspicious" transactions without even explaining why it is so "suspicious". Oh and you also should tell where did you get this money and where they go to, otherwise we close your bank account, dear terrorist-money-laundering scum client.
I have reasons to believe Russia will finally turn to its African sibling in several years.
I know this is opinion-related topic and I shouldn't consider your answer as financial advice. Anyway I'd like to see what you think about it and what you would do. Even better, you could reason why you think this way.
Never keep all your eggs in one bucket - it is a very basic investment advice anyone would give, so follow it! Don't entrust your entire money with bitcoin solely, especially when Russia is so hostile about it. Also bitcoin's price is very dynamic and far from being stable! So it may either bring major profit or major losses! You never know what's goin to happen. So in your scenario, I would have gone for 20% bitcoin, 40% USD and remining 40% EUR. I have given majority of the weight to currencies (which can be traded legally) because you need to show the proofs to your tax authorities probably! |
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Hello everyone, I was introduced to this forum by a friend who advice me to be marketing IEO/ICO companies but I see trading as the only thing I picked interest and willing to spend time here to learn. As a result of this I have dedicated 5 - hours daily to learn about crypto tradibg here in the forum since my research only keep me discouraged and scared due to their negative emphasis. I will like to know the difference between shot term and long term trading and the one that is much profitable. Also the different risk involved in both.
Best Regards
CHRIS
Trading is indeed the best way to earn bitcoin and it is possible to earn a living through it! However, long term trading which is also known as swing trading, is not a very suitable style of trading for a lot of people unless you invest a large sum of money! Because in long term trade, less numbers of trades are executed so you need larger amount in profit. On the other hand, in day trade you will need to ride on the small changes in the market which doesn't require a lot of capital and you tend to execute more number of trades with small profit to make it up for you! I would rather request you to visit youtube and learn about various trading strategies! You will find a lot of channels to learn there. I can personally name "Crypto Love" and " Bitcoin for beginners" because I got immensely benefitted from them during my initial days! Good luck! |
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So I was wandering around on youtube and I came across this video( https://www.youtube.com/watch?v=Lw7M7QamQgI ). I realized that the ideas behind the creation of Libra Coin by Zuckerberg are very similar to that of Bitcoin, which I felt that he is just being smart to launch a crypto coin like Bitcoin. But do you guys think He needs the approval from these people before launching the Libra Coin? Personally, I don't think these people understood what he is trying to develop. This video really explains why Satoshi decided to remain anonymous. Satoshi knew that these people will never understand his ideas and contradict the development of Bitcoin. Facebook is a market listed company. So the ownership of Facebook doesn't really belongs to Zuckerberg. Everything they do, they have to answer to their shareholders. So they are just doing what they are expected to do - seeking licenses to conduct their business and trying to be fully compliant! Facing hurdles in the process! On the other hand, Satoshi didn't have any such compulsions! So even if the vision is same - to create a global currency, the operating structure is really very different for Bitcoin and Libra both! It will be utter stupidity if we try to compare Bitcoin and Libra! |
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If a government wants to make their own digital money, who is going to stop them? It's their own choice whether to pursue this matter or not!
But when it comes to a third party, it requires a lot of licenses and compliances to be followed. So these two types of coins can't really be compared with each other! China's digital money is mainly being created for their own people while Facebook is trying to create a global ecosystem!
There are 195 countries in the world. Each of them are different and has different economy structure and challenges. You can understand the kind of pain is faced by the legal council of Facebook!
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I don't understand how giving out 10k satoshi to every human being in the world would fuel adoption.
Unless we have merchants that accepts bitcoin, those 10k satoshis will only lie idle in their wallets. It would just increase the numbers of bitcoin wallets but not actual adoption. Actual adoption will happen once people start using it as a currency. Free money would never going to solve any problem neither it would fuel adoption!
Regulation and legalization are the only way for holistic adoption growth!
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If you see the distribution of wealth comparison worldwide, you will see that 0.6% of the world population holds 39.3% of the world's wealth! Reference: https://en.m.wikipedia.org/wiki/Distribution_of_wealthBitcoin is not going to change the equation. But it may add few more people in the list increasing the percentage of both parameters. We all are modern day slaves, that ain't gonna change for all! |
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Give me a simple answer,
What's the utility of your token? Why would anyone use your token?
I hope you get my point! Token market is dead because 99.99% of the tokens don't have any utility! Should I add your token to that list as well?
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There is no hard and fast rule to pronounce an ICO as good or bad. It's the experience of the users that tells them if an ICO can be a good ICO or a bad ICO! However, in money matters, it is very important to know the details of the project owner. If we categorize few important factors for a good or bad ICO, owner and team identification will definitely come within the first 3 parameters!
In you case, I would rather suggest you not to launch an ICO itself. Because if you don't identify yourself, your project will be scrapped after the launch. And if you do, you may go to jail! If you think that your ideas are great, go to angel investors and pitch your idea! That would help you to start your business!
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