Pretty confusing news! How come an exchange will be regulated when all existing Indian exchanges are getting their business to a different country? I think BitThumb is just being over optimistic about India eyeing the market potential. But they haven't yet faced Indian red tepism and tax terrorism. I would like them to try!
1st crypto is not so far banned p2p is people using .. which is fine according to law... as long as they show those money in tax returns then no worries,lets go back to your tax .. its not like old days where it was hard call for someone to fill tax.. now these days its very much easy task .. I am very well aware of what's happening in India! Believe me, I am probably more aware about the tax rules and business environment of India than a lot of people given my background of working with a "Big Four" audit company. I would be very happy if any crypto exchange gets a legal status in India! P2p trading is a different thing and regulated crypto exchange another. My concern is very simple! The homegrown crypto exchanges like Zebpay was forced to move their operations to Singapore because RBI didn't allow them to operate a bank account in India. Unocoin owner got arrested for installing a crypto atm. RBI's banking ban is still in force which states no crypto related entity should be allowed to operate an Indian bank account. Then how come a Korean exchange is expected to start in India? How? |
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Do we really intend to be good citizens if this were the fact on our life? Why do you think gambling made us all bad people?? Being good or bad doesn't really depend on anyone's gambling exposure! So make sure you don't offend people by your comments! If gambling never existed, we all would have done something else for sure! But we are good people now and we will continue to be good people even if gambling exists worldwide! |
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is it possible that the prize manager and the entire project crew including the developer, they work together and deliberately promote fraudulent projects?
I see how easy they are to erase red trust and promote fraudulent projects repeatedly?
Is this what is called a camouflage manager?
There's always a darker side on the earth while the other side shines like a diamond! It's everywhere! The lack of credibility is actually killing the ICO market. Just because there are enough fraudulent projects available, the actual projects are not getting investments and attention they deserve! But that's a dangerous side of the decentralized market. With no central authority, scammers don't think about getting a lash back and they continue their misdeeds with the help of fraud managers and promotional partners! |
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Libra was never aimed towards the remittance market. Facebook don't really like to capture a single market. What they always want to do is disrupting the business environment. That's why they have associated big brands from every type of sector with their Libra project.
Like lobat999 already posted about it, you can literally see remittance sector, telecom sector, transportation, banking, music etc. They are also aiming to multiply these numbers before the actual launch! Remittance is obviously one of the sectors where crypto can be a big help! But that doesn't end here!
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He speaks about doing own due diligences is important! That's a very basic truth of investment. Brokers and financial advisors can make your life hell with phone calls and advising stocks and bonds that's gonna fetch you unrealistic returns. But if you do your own due diligences before you leap in, a lot more information will be revealed to you so that you can take informed decision! It's all same for real world stock market as well as crypto market. Using your own brain has no alternative! |
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This is also the country that practically banned people from keeping money under their pillows so I wouldn't be surprised.  The thing is, would they be able to really run after crypto users. How would they find out who have stashed what somewhere? They can't even catch their scammer cybercriminals that it take white hats from abroad to expose those and report to police. This is too huge for them. Better to just tax exchanges and EARN money on the side rather than SPEND money enforcing the ban. I wouldn't disagree to your view but after the demonitization, India's economy is showing signs of slowdown. The current religious government has failed to provide job opportunities to the youth and also creating a big mess in the name of NRC. If you are from the same country, you would know what I mean by that. around 1.9 million people from a single state are declared foreigner and put behind the bar. The government is deliberately targeting the religious minorities and riots are erupting everywhere! I personally don't have much faith from this current government about the cryptos. They are conservative by nature and acts on the radical faith on religion. It's true that government wouldn't be able to catch all even if the criminalize the cryptos in India. But Indian youth are now looking to settle abroad in countries like Canada and Australia! Until and unless the current government changes, there's literally no hope for India! |
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May I know your country please? It would help me to give you a better reply.
personally I also don't like to provide my ID to a random stranger who is trading on Localbitcoins or Paxful or any other similar platform, especially for a small value trade like $150 or so! I would simply overlook any trader who would ask for my ID for such a low value trade because I have lots of options to bypass such demand. If not, I would definitely like to blur all my details and keep the name intact if it suffices the requirement of the trader!
So looking at the trade amount you are having, I would suggest you to drop the idea of collecting ID from people. It would certainly give your offers more attraction and probably it will lead to more sales and more profit. If you are planning to extend your trade volume to $700+, you may re-think of asking IDs, but it literally doesn't make sense at this amount!
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Doomsday preppers have recommended hoarding precious metals like gold and silver for years in preparation of the big crash.
I remember a time when most might have agreed people hoarding gold were crazy. They would have said gold standards were flawed economic paradigms. Fractional reserve banking and inflationary currencies were our ideal standards. It seems the script has been flipped with a central bank admitting fractional reserve banking and inflationary currencies may not be the perfect economic policies professors at universities have long claimed.
Globally we've witnessed banks accumulating and holding gold reserves for some time now. There's a shift in the direction of the wind. These changes could be frightening to consider.
What should we think of a world where central banks behave like doomsday preppersd, accumulating and hoarding gold as if in anticipation of global economic crash? There's nothing called perfect world and no system can be flawless, especially in global perspective! So if Banks are accumulating Gold and slowly moving away from the debt based economy, it is probably the need of the hour! Similarly when the banking system moved out of Gold standard to debt based economy, probably it was required for that time! Global economy is was more diverse and dynamic than a human mind can think off. So every solution given by all noble economists, will have a temporal effect! Among these, Gold seems closer to the reality. So I see no surprise element after knowing that Banks have started accumulating gold to hedge the upcoming slowdown risk! Because Gold is the only precious metal that has proved anti-inflationary characteristics. Gold is being used as an investment asset since centuries! There's no wonder Banks or even commoners will entrust their wealth on Gold to encounter the odds! |
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No and never! I can only lend in cryptocurrency only if I know the borrower personally, otherwise not! With the increased adoption of cryptos few years back, a lot of p2p lending were launched. One of them was btcjam. I had actually lent more than a btc there and never got back even half of it! Lending makes sense when you have the assurance to receive it back, be it in fiat or in cryptos.
But crypto p2p lending without personally knowing the borrower, is a stupid thing to do! No matter what cryptocurrency you use!
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Hi Everyone! I hope you're all having a great week. I just published an article on dollar-cost averaging which I think would be a great read for many of the traders here. It provides a simple way to consistently add additional funds into your portfolio. I would love if you could take a look and let me know what you think! https://blog.shrimpy.io/blog/dollar-cost-averaging-for-cryptocurrency-portfoliosIt's a well written article about DCA. However, DCA is not really a trader's thing. Rather it's for investors! It usually works best in played in longer terms! This method is also known as SIP or Systematic Investment Plan in real world stock market. But I am little skeptical about its effectiveness in crypto market because there isn't any dividend options available! In stock market, we get dividends and various share issues like split, bonus and other corporate actions. This is not the case in crypto! It might help investors to keep the investment risk below the belt, but the volatility may eat up the profits no matter how good your portfolio looks like! |
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There is no question that bitcoin is evolving and whether it is in the direction that it should be or not that can be subject to some discussions and debates. Soon we may witness bitcoin to be the viable platform leading the way in the global payments industry and possibly diminish the strong leadership of PayPal.
However, this road will not be a walk-in-the-park because for now, is the lack of interest of people who have bitcoin to use their cryptocurrency to pay someone or to pay for products/services. Of course, we know why this is so. The answer is speculation. And speculation is always appealing to our natural greed...that idea that soon bitcoin can go as high as $20,000 so I will do everything possible to hold on to my bitcoin no matter what.
We are all generally greedy and speculative...something that no technology has no cure at all. However, I am still hoping that one day bitcoin will have less volatility and by then can fully play its role as a real currency and hopefully can overtake PayPal...but for now let's just enjoy the roller-coaster ride anyway there is no deadline so why worry or complain.
Speculation can only end with stable price. If the volatility remains same, there will be no end to this speculation game and bitcoin will eventually remain as an investment only! The second bottleneck is the adoption. Today in majority of the countries, we can't really use bitcoin to buy anything! So there's no way for a bitcoin holder to use his bitcoin rather than investment. The way human nature is involved in this entire speculation game, similar way the lack of adoption is also contributing to this same cause! Overtaking paypal is a matter of few days if bitcoin gets fully legal status in all countries. Paypal is not even a worthy competitor if the level playing ground is provided! |
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Regulated crypto exchange??
Pretty confusing news! How come an exchange will be regulated when all existing Indian exchanges are getting their business to a different country? I think BitThumb is just being over optimistic about India eyeing the market potential. But they haven't yet faced Indian red tepism and tax terrorism. I would like them to try!
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Unless there is a nuke war inside the gold mine and all gold supplies are radiated in that process, there's no way Gold will be replaced by anything else! No matter how highly adopted the bitcoin will become or whatsoever great happens, Gold can't be replaced! That's not speculation, that's a fact!
Gold is the greatest hedge product that human race ever experienced! Let's not become over optimistic, rather be realistic!
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First thing you need to understand that Libra is not a crypto. Even though it is planned to run on a blockchain but it is not made to be truly decentralized. It will always be controlled by Facebook and every single transaction will be reported to the appropriate authorities just the way banks do.
Now the bigger question is that if Libra can take off in 2020! I guess no! It is facing a lot of regulatory challenges already and many popular brands are pulling away their association from Libra. I will be surprised if they can roll out this project in another 5 years!
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Token market has become very similar to HYIP market where you can simply buy a php script and hire a designer make a website for you. It's even simpler for ICO market because you won't need any script, just wordpress hosting will do the trick.
It's really sad that cheaters are targeting crypto market as well in big numbers. That's the main reason why ICO market has lost its credibility! People need to understand that tokenization of everything will only lead to big disaster!
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Any proof you have to support your statement? Some big players may use bots to trade simultaneously in more than one market so that they can take benefit of price difference. But to control the market, it requires much more than a bot! Market manipulation is easier said than done!
Have you noticed any such pattern?
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Exchanges
Community.
Project Team.
Whitepaper
Those are common metrics in assessing the quality of an IEO but you could end up being hyped with those four alone. It is more important to consider if they have a working technology already (prototype or MVP) and not just ideas and buzz words. See also if they already have signed strategic partnerships and not just plans to sign with company X or Y. Indeed! IEOs are very similar to ICOs. People think that if an IEO is associated with big exchanges, they must be promising. But they don't understand the big money game behind it. The larger the exchange is, the bigger fees are paid! These exchanges don't do an extensive due diligence to assess the legitimacy of that project. If anyone is investing in an IEO based on these 4 parameters, GOD help them! |
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My question is this: what if we just crash the prices by increasing production, and ensuring other manufacturing sectors are running to balance human needs in the world? Although this is different from currency.
That's just not gonna happen! To control the production of a commodity, we have various ministries who strictly controls almost every aspect of the production. Also increasing production to bring down price, will only have a temporary effect for majority of the commodities and may have cascding negative effect on that sector which will eventually lead to huge losses to the manufacturing companies. It's unrealistic thinking! |
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