The creation of blockchain came with possibilities and predictions of a future where intermediaries could be eliminated entirely. It is capable of executing millions of transactions within seconds at a lower transaction cost and requires no centralized authorization. With the blockchain trend going on as strong as the moment, is it possible that blockchain will replace banks any time soon in the future? More here: https://www.hb-wallet.com/post/2018/12/20/can-blockchain-replace-banksBlockchain replacing banks - is a great subject for day dreaming, but that's not gonna happen! Not at least in our lifetime! No nation would throw out their authorities over the money to a technology that is controlled by none! Also having no authority will also lead to a lot of other problems. Let me give you an example, In case of a fraud, now you can actually contact you bank and police to get that transaction reversed to your bank account. How you will handle the same situation if it is controlled by none or the same fraud happened in your bitcoin wallet?? Centralized authorities are not bad, just some revamps are required to adopt the changes of a progressive economy! Complete decentralization is a myth! |
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I don't think bitcoins are being traded at premium in India, not at least 30% premium! Use websites like localbitcoins or paxful to find a trusted seller and read the reviews before you open a trade with any seller! If someone is using their black money, then probably that person would not want to go through the banking route and try to purchase bitcoins through an offline seller! Otherwise it doesn't make sense to buy at premium when normal rates are available!
Secondly, a banking ban is definitely imposed by RBI but after the last G20 summit in Japan, India has agreed to follow FATF guidelines to regulate crypto! I agree that the guidelines are somewhat harsh, but at least cryptos will get a legal status in India! You will have to pay taxes on it but at least a peace of mind will be there! I am sure crypto community of India will accept it gracefully!
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Hey guys, I've just posted a video my YouTube channel, CryptoBusy , on whether you should be a Bitcoin Maximalist! https://www.youtube.com/watch?v=6GhS55uaFCELet me know what you think  I am interested in hearing your structured thoughts and opinions on the subject matter, thanks 🙂 I doubt that bitcoin maximalism even exists! In this subject matter, I want you to read the below article which actually talks about why bitcoin maximalists are actually stupid, https://medium.com/@pedrofebrerojr/why-being-a-bitcoin-maximalist-is-really-fucking-stupid-c8f22b136a9bMaximalism actually makes no sense because a maximalist tends to ignore everything else which doesn't go along with their own viewpoints. That's literally non sense! It's the world of opportunities and being a maximalist is effectively blocking the opportunities knocking at your door! |
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It helps a lot,but I am not earning much of bitcoins and converting it into INR so still I need to pay income taxes?
If you have earned more than 2.5 lakh in the last financial year, you will have to file income tax return. This does not mean you will have to pay tax but you have to let the government know how much you have earned! But if your total income is less than 2.5 lakh, then you don't have to file the return as well! Here total income means your bitcoin earnings plus your offline earnings! Hope this helps! |
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bank questions for the source of income
i told them it from selling crypto and masternodes
they say it is illegal
so how to trick them into believing that the source of income is legitimate?
they asked for screenshots
they are about to close the account
.........
bank does not approve of transactions related to cryptocurrency, as they carry the risk of generating income through illegal operations.
Please send us documentation which confirm what source of funds was invested to cryptocurrency and the statement from the platform where we can see that your funds were invested and then the cryptocurrency was sold out.
Can you please mention your country? I am sure that more and more people will start receiving such notices because Banks are really worried about their business! Unless a government explicitly approves and legalizes cryptos! Since you have already informed them that the earning is from cryptocurrency, now you have to produce a proof that your investment was made from a legal source and also need to provide the statement of your exchange. We all know that, Four things never come back: the spoken word, the sped arrow, the past life, and the neglected opportunity! Yours is the first one! |
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Most popular faces of Crypto industry are regularly posting their views on the king coin. One of the well-known crypto enthusiast and Co-founder of Heisenberg Capital, Max Keiser believes Bitcoin price will move 25 -30 times faster to the upside than Gold. What's your take on this, will bitcoin price increase? I am literally fed up with all theae so called known faces of cryptos, especially when they post about their predictions to Mars! The future is obviously uncertain and it's impossible for anyone to know what's going to happen in future unless that person holds skme psychic power! They are just speculating and people seems to be amused by their speculation! Hard reality! |
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I think OP is trying to point out the fact that we are considering the price of bitcoin against USD and we should not be doing that! What OP says is that, we should not be doing that, instaed we should derive the price of a commodity in bitcoin unit only!
Bitcoin has not yet reached that stage. I am an early adopter of bitcoin and way more devoted to it than a lot of people! But bitcoin is not accepted enough when we can actually do that. It has not yet become a global standard! It's just 10 years old only! Give it another 20 years of time, probably we will reach that stage where we will derive the price of any commodity in bitcoin unit only!
No matter how great we understand Satoshi's whitepaper, we don't really have a choice!
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Good offer, but not for anyone outside Netherlands. To get into this lucky draw, you will have to visit their sales team at iGB event this July in Netherlands! Only a dutch can afford that because everyone else will have to pay for their flights and hotels! Rather, I would visit France to dine at 3 Michelin star restaurants at lesser cost!
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Bitcoin's value depends on lot of factors. Let me point out few for you!
1. Production cost (ready reckoner value)
2. Usability (peer to peer transactions)
3. Anonymous (ability to hold your own money without any intermediary)
4. Limited supply
I believe these 4 are the major factors due to which Bitcoin is considered as a store of value. There are people who says bitcoin is just a bubble. But that's ok because criticisms and competitions always makes the opponent stronger!
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It's not actually dumbness! It's a psychological quotient of human beings which drives them behind mysteries and Satoshi is indeed the biggest mystry of this era! All of them know that no impact will be received by the bitcoin market even if the creator/creators are found but still they try to chase the unknown!
Lets respect their feelings bro! Let them enjoy what they are doing and let us focus on what we are doing! We all know conspiracy theorists will have different versions of Satoshi to keep our imagination well fed! But does it matter?? NO!!
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Someone brought this website across my attention and I was able do some quick google research and looked at this website https://www.icoinpro.com/ and supposedly it teaches you how to trade cryptocurrencies. But the earn income tab is what really bothers me. I’m not sure if this site really teaches you to trade to actually earn, but seems like, from what I’m looking at that most earnings are from shilling the distribution link to get ppl to sign up. So my question is, I’d like some opinions from some ppl here on 1.)Does anyone know of this site? 2.)Is it a scam or just a MLM? 2.)If someone wanted to learn to trade Cryptocurrency(Assume they are a total noob and don’t know a thing) Would this be something you would recommend people to sign up for? Or are there some better free resources that can help someone learn to trade better than icoinpro? It is a pure and simple affiliate based MLM company that deals in cryptocurrency. You get people to sign up and purchase their training scheme using your affiliate link and you earn in hard cold cryptos as commission. But when it comes to the review of this program, I hardly found anything negative about it! But that's how MLM works! So there is nothing about trading whatsoever, you just have to get people to purchase their training scheme and earn money through it! |
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after I saw the video about a little difference from these two types of crypto.
Libra :
1. dollar digital
2. using Whatsapp
3. transactions of goods and services are more priority on facebook
4. verification by consortium members.
Bitcoin:
1. digital gold
2. without special short message applications
3. without a third party verification process.
and if you all have other analysis, please share your knowledge here about Libra and Bitcoin.
I will prepare capital to buy Libra in 2020.
I am sorry but your differences are not able to catch the main essence of Libra or Bitcoin. Let me tell you what the main difference is, Libra is a strictly centralized digital representation of money which is regulated by a mother company after complying with country specific laws. On the other hand, Bitcoin is a decentralized digital currency which is not owned by any specific company or individual and the user gets complete control over his own money! That's the main essence and that's where Libra doesn't hold any competition with Bitcoin! |
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Hey guys, what do you know about the International regulation of cryptocurrencies? Especially in different countries, let's follow an interesting overview ➡️ https://promo.raidofinance.eu/regulation to look at the situation in crypto regulation at some widely known countries! And also find some answers on how are crypto exchanges regulated there? 🔸Share your opinions below.🔸 WIll be glad to discuss it with you! 😎 I must say that you have used a very effective way to market your own exchange. However, let's get back to the topic. FATF has only made a proposal to the G20 leaders and advised some guidelines to regulate cryptocurrency and related risks! G20 leaders have agreed to implement these recommendations of FATF to their own countries. People are now panicked due to miscommunications from the freedom lovers or from the crypto maximalists. See some facts below, 1. FATF can only advise but can't enforce 2. Countries will have to make their own law to enforce their guidelines 3. Strict KYC and AML measures will be implemented to ensure cryptos are not used in wrong purposes 4. People will be asked to pay taxes on their income from cryptos which they are hiding till date 5. Cryptos will be harder to use for terrorism financing and drug purchasing The world couldn't standardize weight scale and distance measurement scale, how the hell they are expected to implement same crypto regulation measure?? World/international regulation is a daydream! |
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10 fold leverage is the market standard. If I look at the normal stock market, all major brokers offer such amount of leverage for margin trading! Some of them even offers 20x leverage but that's really risky if the trader uses it without a stop loss!
I have been trading since a long time now and I personally feel that trading is nothing less than gambling. In dice games, you are purely dependent on your luck but in trading, you are taking calculated risk, that's the only difference!
But when it comes to KYC, I expect a more stricter norms will be imposed for crypto traders because of the risk it comes with! Every single traders will eventually have to come under the KYC rules. But why do you have problems jn paying taxes?? You are lucky that your country allows to trade in cryptos while my country is planning a blanket ban with 10 years of imprisonment! Feel glad about what you have!!
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-snip-
Nothing special! It might create some hype but doesn't mean that Lucky.io would increase its traffic.Lucky.io is a casino site and I thought it was a sportsbook but it isn't.They might hire anyone which is famous but neither which way where paying up these personalities would add up into their expense and the results doesn't give out an assurance for positive ones. I also have similar understanding on this platform! However, while browsing their website, I found this, LUCKY.io is currently undergoing a major upgrade, with an updated platform on the way, as well as a brand-new gaming currency: the LUCK token. It will use the token to build a fully self-governing ecosystem combining provably fair gaming with world-class slots, tables games, live casino, sports betting and more.
The new platform will be formally launched at a major international blockchain conference in August, with details to follow. So their Sports Betting portion of the website is not live yet! I tried to find reviews about this website and I found none at all! I am just being redirected to luckygames.io which is obviously a very different entity! However, what I found is that the same domain is on sale at Afternic.com for 88 grand. Check the link below, https://www.afternic.com/domain/lucky.io |
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Hi guys. I have a friend who's parents are looking for alternatives and want to invest money into something other than their IRA account. They have a fixed IRA with about $100K, but they are unsatisfied with the miserable amount of interest they're getting. I mentioned to them that bitcoin is a possible alternative and one they can look into. Do you agree? Do you guys consider bitcoin a reliable and stable investment for long term holding(5-10yrs)? Is it safe to assume the only direction(barring a few dips here and there) bitcoin will eventually go from here is up? Do you foresee it going below $10K, or even $9K ever again? Is it even possible to see the lows we saw a few months ago(ie $3500) ever again?
Please give me your thoughts. IRA or Bitcoin for the long term?
Since they are using IRA account, I assume they are more than 60 years old now! Bitcoin is not at all a safe investment for them unless and until they want to get into daily trading! I consider daily trading as somewhat safe to get into because there you ride with the tide and find opportunities in every market movement. But for holding, bitcoin is not at all a safe investment for the individuals with more than 60 years of age. I would advise you not to recommend bitcoin investment to them unless you want to bear the burden of their losses! Rather, I would want you to suggest "Portfolio Management Service (PMS)" provided by reputed stock broking firms. There are companies like Transamerica, Wells Fargo, AMG Funds etc, who provides PMS services. Advise them to open a PMS account with them and these fund managers will manage your fund to fetch you a better return! It's safer than bitcoin and obviously suits the income needs of all age group! |
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For Bounty Hunters and Signature Campaigner: If you have earned any income from such sources and redeemed it on an Indian exchange. Its better if you show yourself as a Digital Marketing Agency and file your return under Profits and gains from Business. In this way you will be able to take advantage of "Presumptive Income Scheme" in which you can declare your total earnings and even subtract some expenses such as Internet Cost, Electricity cost etc. better ask your CA regarding it. So if you have earned received for eg. ₹200,000 in form of Receipts from signature campaigns you can deduct some expenses and file a return under 44ADA. Section 44ADA of Indian Income tax act says that certain professionals as mentioned under section 44AA(1) will only have the benefit of declaring their income under section 44ADA. Now section 44AA(1) says, (1) Every person carrying on legal, medical, engineering or architectural profession or the profession of accountancy or technical consultancy or interior decoration or any other profession as is notified by the Board in the Official Gazette' shall keep and maintain such books. Now lets look at the books to be maintained to get the benefits of 44ADA - – Cash book;
– Journal;
– Ledger;
– Carbon copies of the bills and receipts issued by the person in relation to sums exceeding Rs.25;
– Original bills and receipts issued to the person in respect of the expenditure incurred. If an individual is earning from signature campaign, such books can't be maintained! It's best to show the income under "Income from other sources" and pay taxes accordingly! Information source: https://studycafe.in/2013/07/section-44aa-persons-required-to-maintain-books-of-accounts.html I am withdrawing the above quoted post! OP is absolutely correct! I just had a discussion with my CA regarding my tax filing this year and he suggested the same! I am going to file my crypto earnings under 40ADA this year! There are some major benefits as explained by my CA, 1. 40ADA is specifically mentioned for few professionals and freelancing is one of them. 2 Accounting not required 3. Straight away deduct 50% from your total earnings as expenses 4. Audit not required Go ahead with 40ADA if you are earning in cryptos from freelancing or from signature campaigns. |
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Is there is any update about bitcoin in new central budget 2019. Indian exchanges shutdown their service one by one.
Nothing at all! I am surprised to see no comments have been made of cryptocurrency in this year's budget! I at least expected to hear about the upcoming G20 legislation to come into effect but none whatsoever. However, I believe we will hear some update very soon because all member countries of G20 have agreed to follow the recommendations of FATF. Keeping my fingers crossed! |
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Dear, this is not a trading section. Please move your thread to the below section. https://bitcointalk.org/index.php?board=53.0Also use localbitcoins platform for safer buying and selling of bitcoin instead of finding a trader here. Localbitcoins offer escrow services so that everyone can be assured about the integrity of the trade. |
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