Absolutely valid argument and I can't deny that fact! However, a person needs to study a lot and also spend a lot of money to become a Doctor! That's why his time is valued more!

On the other hand, a Janitor doesn't need any educational qualification or much money to become a Janitor. That's why he is paid much less.

However, both of their services are very important for the community! Both professions are equally required to address some of the basic needs of a civilized society! So why are they

This is how the current system is designed! The current system is designed on the foundation of disparity and that's how we are trained. But that doesn't mean it is the correct way!

Switzerland recently proposed a basic income plan for all its citizens where they tried to bring everyone under a standardized platform! Which eventually got rejected by their own people because people love to live with this disparity because of their inflated ego that comes from digits in their bank account.

This should end! As a human we all are entitled to receive same opportunities to study and grow!

I urge you to read a book called "Immortals of Meluha" by Amish Tripathi. It is a work of fiction but it also talks about how a practical society can be formed! If you read this book, you will understand from where I am saying this!

How can lower interest rate is a sign of slowing down the economy?? When interest rate is lowered by a central bank, it increases the cash flow in the economy because people pays less money towards their loan repayments and carries more spendable cash in hand! Same goes for the companies as well! They pay less to the banks and use that extra money to upgrade their facilities or products or employee benefits! Less interest rate means more profit to the companies as well.

Am I missing something here?? Please let me know if my above statement is incorrect!

This thing is doing a lot of rounds in the internet. However, before reaching to any conclusion, please see the below video to get a new perspective in this case,

https://www.youtube.com/watch?v=z91bfIunZZ8

The video is published by Crypto Kanoon who are pioneering in crypto related legal issues in India. First see it and then decide your next course!

You have a crypto portfolio and you don't have Bitcoin!! How useless is that!!

If I look from an investment perspective, bitcoin is the best performing crypto asset since its inception. Do you have any particular reason for not adding bitcoin? Please go ahead and add bitcoin as soon as you can because it is still cheaper at 12k USD. Don't buy big, instead take a systematic approach like SIP. Invest a certain amount of money into bitcoin at certain interval. It will average out the buying price as well as it will lower the risk of holding!

Time based currency is the future! It's wrong that each person values their time differently and that's the reason why we have so much disparity in income nowadays! 80% of the wealth is controlled by 10% of the millionaires and billionaires and the rest is just getting dipped into debt! I am not a millionaire but my house costs 4 million in my local currency. TO buy this house, I had taken a loan from a bank and I am paying 35 grand every month to the bank as EMI! I also put in exactly same hours everyday in my office like any other person. Is my time valued enough?? NO!!

To end this kind of disparity, time based currency is the future and blockchain can really help us to bring the transparency in the entire system! Certainly we don't have any such system to keep track of time of an individual but we can't say that there won't be anything in future! Disparity should end at any cost!

It's really great to know that you are actually making a mark in the promotion of bitcoin to the mass! We really need more of this kind of events to clear the confusion from the people's minds. I have personally spoken to lot of my colleagues about bitcoin in the past 2 years but I have noticed that majority of them thinks Bitcoin is a scam! because in my country, Banking sector has started a war against it. They are sending mailers and organizing mass events to spread fake news about bitcoins. I have got few invitations of such even from my bank as well!

Here I want to quote a famous tweet made by CryptoKanoon on 25 May 2019.


Tweet link: https://twitter.com/cryptokanoon/status/1132223935058042880

People welfare is the key here!

When regulation becomes irrelevant, this is what happens! Also when the companies have options for better regulatory environment, why would they stay and continue to suffer? Just a small example about Zebpay, an India grown bitcoin exchange. When Indian Reserve Bank banned them from trading in crypto market, they simply flew away to Singapore. Now they offer their services to more than 130 countries except India when the company is founded by an Indian and majority of their employees are from India itself. It's an opportunity lost for India to earn on tax income as well to provide employment.  

Facebook has informed that they will launch Libra in the first quarter of 2020, but they will be lucky if they can do it in 2020 itself! They haven't yet faced enough red tepism and regulatory hurdles! I am sure they have already initiated discussion with their key market countries to launch Libra but a lot of resistance will follow before anything happens on ground!

Please note down the parametera based kn which you have rated the websites. Otherwise it literally no sense for anyone to belive in your ratings.

Also have you considered user's feedback while rating a website??

This article is probably somewhat better than the rest because it uses very simple language structure for everyone to understand and also talking some sense without using a lot of technical jargon.

However, I disagree with the last point where it says that "Technical and network fundamentals are strong"! Because there is no standard benchmark based on which we can actually reach to this conclusion! That's why you will see a lot of article detesting this bull run saying that "Fundamentals are not strong and the price will come down very soon". Most notable of them is Whitney Tilson, who is the founder of Empire Financial Research stated - "Don’t get fooled by the dead-cat bounce this year"!! This clearly shows there is no benchmark set by the community yet so everyone is just trying to gain some visibility!

Most prominent reasons for this year's bull run can be summarized in just two points, one is the interest from institutional investors and the upcoming bitcoin halving. I personally don't think anything else is impacting bitcoin market so strongly to push it upto 11k USD!

Facebook simply can't bear the risk of having same delegation for Libra as of Facebook. It's not that simple really! Why do you think Facebook has taken time till 2020?? As we are talking about Libra now, Facebook's highly paid executive's team has already started reaching to various governments of the big world economy and trying to get an official license for using Libra in their economy! I am sure some technically advanced economies like Japan or Germany will go ahead with this idea. However, majority of the Asian countries will be very skeptical to allow it in such a big scale!

As the article rightly pointed out, Libra will be controlled by a consortium of big IT and Fintech companies in an endeavor to take their business penetration to the next level. Yes, common users will be benefited because a lot of new technologies will be brought into this field to make money transactions simpler and cost-effective, but can we call it a cryptocurrency really?? What common features Libra will have to a crypto??

It is a common mindset everywhere in the world! No one actually uses bitcoin, instead they are just adding to their hoardings! But if you think that it is only their mindset, then it's wrong as well! Unless and until you are living in Japan or Germany, you won't find a single place to spend your bitcoins! In my country, I can find zero places where I can actually spend my bitcoins against any product or services. So it is not only mindset, rather it is the scarcity of the merchants who accepts bitcoin as well!

HODL approach is definitely hurting us, but we are also helpless in this case because we can't find any single place to spend that bitcoins! 

When a company gives you deposit bonus, it certainly comes with a binding terms and conditions. Otherwise, anyone would deposit 1 bitcoin to that website and onec the bonus is paid, they would withdraw the total amount. Will it help the website in any way? That's why there are many types of terms and conditions attached with such bonuses.

The most reasonable one is, that you have to play a certain number of games before you become eligible to withdraw the amount. However, based on their business situations, additional conditions are applied.

Also such deposit bonuses are not applicable for gambling only. There are many forex trading websites offer such bonuses. Where you get $50 in bonus but the minimum to withdraw is $100. Otherwise it will become an endless circle of deposits and withdrawals, ain't it??

Lol! Mints worldwide are emitting way more electricity that bitcoin consumes. Why should we need physical money after all? If these is your perspective of bitcoin mining, then you should start with mints worldwide. Carbon emission is indeed a challenge which world leaders need to address at some point of time! But targetting Bitcoin mining for that, is not going to help at all!

On the flipside, it is much easier for miners to switch from conventional energy source to alternative source! But it is not possible for big factories to rely on alternate source due to their high consumption!

BTW, do you think thermal power generation process does any less harm to the nature??

Don't compare Blockchain and cryptocurrencies, these are absolutely different areas! While blockchain is a technology, bitcoin is just one of its use cases.

However, please read the below link to learn more about possible use cases of blockchain,

https://blog.advids.co/20-blockchain-use-case-examples-in-various-industries/

Hope this helps!

Thank you for putting this links together! It will really help people to understand the legislative progress of cryptos in India. However, as a early adopter, I diligently follow Crypto Kanoon to get all my doubts cleared about cryptos in India. I recommend you to add their YouTube channel link and Twitter handle details to the main thread because these are Goldmines!

Youtube channel: https://www.youtube.com/channel/UC8FCcWDNe2N8EfEiVd7AwtA
Twitter handle: https://twitter.com/cryptokanoon

They are a group of lawyers and even have an email ID where you   can post your concerns and tax questions! They have been tremendously helpful to me since all these years!

I have been using localbitcoins since a long time now. And by God's grace, never faced any such issues! But what local exchange do you prefer to cash out ypur bitcoins?? I have never used anything other than LBC, so a recommendation will be helpful!

I am seriously thinking of leaving LBC now due to such risks! Also I am wondering how an Indian crypto exchange is still operating their business banking accounts in India even after the RBI ban on crypto businesses!

I won't particularly say Libra is bad because of many reasons. When Bitcoin came to the market back in 2008-09, it shook the world and especially the banking system! But it failed to get the desired support from the regulatory authorities.

What Libra is trying to do is to take the game another notch higher. Facebook is actually trying to capture the mass banking segment using their technology. Libra is definitely a game changer for the cryptos! But yes, you won't get what bitcoin offers to us, but that certainly doesn't make it bad.

I would rather say, TIME is the future global currency, not data! I am sure we can have a reasonable number of constructive arguments but if we are thinking to move to a regime where everyone will get equal payment without any discrimination, TIME can only solve this! Data also has a big value in the market today and only a couple of IT conglomerates like Facebook, Google, Apple etc. are making real use of it! But when it comes to equality and ensuring proper wealth distribution, TIME has no competitor!

Also when we talk about Global currency, it has to be built on a standardized platform. Do you have a better standardized and Global platform other than TIME?? It needs profound though process from the Global think tanks, but I believe it is only currency that will be used in the future! Data is just becoming a commodity which is controlled by few privileged corporate!   

Yes, That's correct! But a majority of the traders don't send payments to a third party accounts. Means you need to convert your bitcoins to your own bank account which you can later transfer to your landlord's account. The traders usually won't transfer it directly to your landlord's account. Because third party transfers come with a significant risk attached with it.

Also not just Localbitcoins, there are paxful, bisq and other exchanges available as well! However, there is no other way to pay directly in bitcoin to a bank account. You need to have a trader to exchange it first!

It's great that OP actually tried to shed some proper light on this matter as many people has gone into panic mode after the news went viral. I always suggest every Indian to follow the Twitter handle and Youtube channel of Crypto Kanoon because they are a group of Lawyers who actually provides great and unbiased information about cryptos in India.

Youtube channel: https://www.youtube.com/channel/UC8FCcWDNe2N8EfEiVd7AwtA
Twitter handle: https://twitter.com/cryptokanoon

Now, I want everyone to see the below video to get a better insight on this ongoing dilemma.

https://www.youtube.com/watch?v=33gged1nyF4

The video is in Hindi but an English version is also available. I request OP to update the video link in the main thread so that people don't get confused!