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Privacy token may be possible because common people will always be benefited from such tokens if the government becomes too invasive in the name of crypto regulation. However, I don't think any new token will suddenly become very important and impactful in this scenario. Instead, we will see existing coins like Z protocol coins, XMR or Dash will enjoy the majority of the market share of privacy coin!
But I am really not bullish about the medical coins! Medicinal coin is one such area where more research is needed! It won't get any prominence just by providing medical support to patients over a video call. John was a promoter to Docademic so it's no wonder that he will speak good about it! But it's my personal opinion, that we humans are not yet ready for such medical aid yet! That's why the possible really looks grim for medical coin, ar least according to me!
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Bitcoin is a form of anarchy in the economic system. The Bitcoin system is designed to do self-rule and be supported by the application of technological advancements so that it looks amazing for mathematicians and technologists. However, according to the anarchism that has been successfully implemented in Spain, everyone must do the task according to their respective roles so that this concept can succeed.
Expecting Bitcoin to be successful is the same as expecting an anarchist social order to be realized. It seems impossible, but in fact, the social order of anarchy can be done with satisfactory results. The anarchic social order that occurred in the Spanish Revolution which lasted for more than two years before General Franco's invasion succeeded in conquering an area controlled by anarchists.
social anarchy which was also supported by economic anarchy in Spain was carried out extremely. One of them, the community supporting anarchism in Spain at that time burned government money. As a result, coupons (and even just trust) can be used to get fruit and vegetables. If you support Bitcoin to succeed only so that you can then get a lot of Dollars, you only pollute the brilliant concept of Bitcoin anarchy.
Anarchy is an anti-government social order and rejects the state system. My question is, do you think Bitcoin doesn't need regulation from the government or the state? and also does Bitcoin not require government support? Now there are more than one definition of Anarchy. What you have mentioned is one which doesn't really go with bitcoin whatsoever and look below for the second one, "Absence of government and absolute freedom of the individual, regarded as a political ideal" This definition is partly true for bitcoin but not completely! Also I believe, government regulation is necessary for the growth of bitcoin! Without government support, mass adoption is not possible! But I literally find no similarities of bitcoin with anarchy so we are not polluting anything! We all have to live within a system and we want the system to adopt bitcoin! It makes no sense in going out of the system and adopt it! |
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That was the threat of FATF. It's all out war on bitcoin first of all. Centralized exchanges must be abandoned. Bitcoin's entire point is to be a numbered anonymous swiss bank account. Not a named controlled privilege for hyper regulated hyper taxed first world nations. Bitcoin was meant to assume people needed protection from the government. It will not work with these centralized exchanges, and FATF has declared war on bitcoin with it's travel rule. The travel rule has to be resisted at all costs. Wallstreet, and venture capital, now silicon valley, have gotten too much power through investing into crypto, pulling it away from its original purpose. They want to sanitize it and sell it back to you as a different product while controlling you politically. Do you really think that if this KYC stuff is implemented in a place like Venezuela that people could use bitcoin, of course not it is a de facto ban on the unprivileged. There's no way to protect ourselves other than ultra mass civil disobedience, and that is not possible without appropriate decentralized liquidity on DEX.
Do you want bitcoin to remain just as illegal drugs?? Without regulation, bitcoin will never grow! It bitcoin remains illegal, mass adoption will never become a reality! FATF guidelines are there for a good reason and might just mitigate the risk that comes from anonymity. You certainly would not want ISIS to declare bitcoin as their main currency!! |
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Link Project, ICON Project, Klaytn in Japan and South Korea are starting their business. How these projects can change the local economy? Carry protocol and Contents protocol can be a good example for this.
If transparency can change the mood of an economy towards positive direction, then yes, blockchain can change the economy for better! However, it's too early to say anything at this moment! Blockchain needs more time to make a solid impact which can be used an an example! Till date, we have none which had made a mass impact! It's still at the launchpad getting ready to unleash a massive change! |
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First of all, is that legal?
Secondly, where could I find people to trade with?
I searched and find LocalBitcoin and Paxful, I noticed they are C2C with a lot of scams. And they generally limit the total trade amount and charge a lot of fees.
Looking forward to responses.
The legality of OTC trade entirely depends on the location of your trade. If you trade in Japan, it will be legal and you will find a lot of vendors who accepts bitcoin against fiat currency. But if you do it in India, it is illegal because bitcoin is not a legal tender in India. Now, I won't recommend any OTC trader because of few factors, 1. High fees 2. Risk of robbery in case the transaction value is high 3. Not anonymous 4. No one is holding escrow Instead, bitcoin ATMs can be a good alternative but again the fees is really high! Prefer websites like LBC or Paxful to trade using banking channels. It is safer if the amount is not considerably high! |
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Just check the below link, https://www.trustpilot.com/review/1xbet.comI don't think anyone would try them after reading their reviewes! That's why I always try to educate people to check online reviews of any new gaming website before depositing anything or it's always better to stay with only one gaming website that you trust! |
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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! Ofcourse I got more than 2.5 lakhs but I thought it is only necessary to do when we hit 5 lakhs per annum. That is for the current financial year! So next year you won't have to pay income tax if your income doesn't exceed 5 lakhs. But currently we are doing taxes for last financial year i.e. FY 18-19. So for this year, the old rules apply! Also we don't yet know if we don't have to file income tax return or not for upto 5 laks income! It is possible that the rule for filing income tax return remains unchanged, only the tax burden will be calculated based on 5 lakhs! |
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First coincheck and now bitpoint! As per a report by Ciphertrace, total 520 million USD worth of bitcoin has been stolen in Japan alone, it will go over few billions if worldwide exchanges are conaidered! I am sure Bitpoint didn't have any insurance or any emergency funds like SAFU of Binance and the end user will suffer big time! Sad news but at the same time an eye opener for this industry to re-think their security measures! I think Japan must incorporate the idea of an emergency fund for each and every licensed exchanges! |
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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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