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581  Economy / Gambling discussion / Re: 2022 NBA Season on: February 06, 2022, 11:46:18 AM
~
Suddenly made me wonder what the Trail Blazers are trying to achieve in this trade.
Acquiring Eric Bledsoe, Justise Winslow, Keon Johnson and a 2025 second-round draft pick isn't too bad of a deal. If they couldn't maximize Powell's output for the team, why not try something new? That trade also made Blazers under the luxury tax threshold. The new players that will most likely be used for rotation might be a gamble but that was still a good business move.
582  Alternate cryptocurrencies / Altcoin Discussion / Re: Matic and BSC chain are now too popular not to include a crypto wallet on: February 06, 2022, 11:26:30 AM
~
3. Safe[al
This should be Safepal. It's available for mobile and hardware wallet.

Last year, Kraken released their findings on the S1 hardware wallet to which they claimed it has security flaws[1]. Safepal immediately replied saying Kraken failed to steal the seed and addressed other issues raised[2]

I personally find their mobile app convenient for small transactions. I also think their Binance Dapp is very useful for people who do not like to submit to the Binance Exchange KYC.

[1] https://blog.kraken.com/post/7874/kraken-security-labs-finds-flaws-in-safepal-s1-hardware-wallet/
[2] https://blog.safepal.io/our-response-to-the-security-findings-from-kraken-security-labs/
583  Local / Pamilihan / 3-Way Scam? on: February 06, 2022, 10:56:24 AM
Hindi ako masyadong pamilyar sa ganyang style at nabasa ko lang sa isang post sa social media.

Ganito bale ang kwento (summary):
1. Nagbebenta siya ng SLP through Binance P2P
2. May bumili sa kanya (person A) at payment method ay GCash
3. May natanggap si seller na payment pero galing sa ibang pangalan (person B). At this point, pinadala na din niya yung SLP.
4. Bigla may tumawag sa kanya na ibang tao nanaman (person C) claiming na na-hack FB niya at yung hacker daw ay humingi ng pera kay person B. Yun daw yung napunta kay seller.

Person C filed a police report na naging sanhi ng pagka-suspinde ng Gcash account ni seller. Kawawa naman at mukhang hindi pa naka-cash out.

Ano sa tingin niyo? Scam ba?

Meron din siguro sa inyo gumagamit ng Binance P2P at Gcash din accepted payment method. Doble ingat lang tayo.
584  Alternate cryptocurrencies / Altcoin Discussion / 1700 BTC tweet - NFT on: February 06, 2022, 09:46:26 AM
You've probably seen this tweet posted many times around this forum and social media:



Apparently, the owner wanted to make money out of it by selling it as NFT on Opensea. The current price is around 1.7 ETH ($5K+).

Opensea link: https://opensea.io/assets/0x495f947276749ce646f68ac8c248420045cb7b5e/83584298764877393909683920256144949094050210591762876769547109989870544617473

https://opensea.io/assets/0x495f947276749ce646f68ac8c248420045cb7b5e/1684294517069921161380706694658171983823848071194747088938082780185138036737

Account: https://opensea.io/collection/crypto-tweet

^ Pretty clever isn't it? Grin

If Jack Dorsey was able to sell his very first tweet as NFT, this person should be able to do it as well.
585  Alternate cryptocurrencies / Altcoin Discussion / Re: Is there any benefit to buying altcoins with tether over bnb? on: February 05, 2022, 03:39:41 PM
Does Coinbase support withdrawal through BSC network? If so, you can do it that way. You would need both BNB and USDT (BEP-20) to buy on BSC AMMs/DEXs though.

Just an FYI that in most platforms, USDT are converted back to BNB or WBNB before it's swapped to any BEP-20 token. As a result, the transaction fees could be higher compared to buying with BNB directly. Good thing the added fee is minimal on BSC.
586  Economy / Economics / Re: India's 30% tax on income from digital asset on: February 05, 2022, 03:23:23 PM
I wonder why they don't consider crypto as a currency yet implement a huge percentage of taxation from it.
I already explained the reasoning why it's not a currency to them in the OP. Also, it doesn't have to be classified as such before it could be taxed. Stocks aren't considered as currencies and yet income derived from investment and trading are subjected to tax.

That's how the government would really work over crypto, if they can't regulate crypto, they will tax it.
Tax crypto income first, more regulations on centralized exchanges and custodial wallets to follow Wink
587  Local / Pilipinas / Re: $2.5B in stolen BTC from Bitfinex hack awakens on: February 05, 2022, 03:05:52 PM
~

Actually iilan na ang mga past mixers ang na-break ang anonymity. Nagpost pa mismo dito sa Bitcointalk ung nagsubok. And since 2019 pa ito, hindi natin alam kung madali rin bang ibreak ung mga ibang existing mixers.

Topic: Breaking Mixing Services https://bitcointalk.org/index.php?topic=5117328.0
Aware naman ako na may mga cases na ganyan at meron pa nahuli/nagsara na mga mixers dati pero Chipmixer kasi ang nasa isip ko while typing that comment.

~ Pero talagang sobrang hassle lng talaga nito at sobrang risky kase di alam ng hacker if huminto na ba or hindi ang mga na atasan mag trace or ang mga volunteer ma bounty hunters.
It becomes a game of cat and mouse na talaga yan. Pagalingan sa pag-trace at pag-break ng transaction links. May mga hackers na din naman ng nahuhuli kahit sa dark market pa sila.
588  Economy / Economics / Re: India's 30% tax on income from digital asset on: February 05, 2022, 02:55:50 PM
~

Oh so it's just a proposal and yet I see all over the media that Bitcoin now legal in India with this as focus point, such misinformation.
It's considered as such probably because it was announced by the Indian Prime Finance Minister herself. It's like written in stone already even without the written law as one of the journalist said.

~ The existing tax rate on profits from cryptocurrency is up to 43%, since it is classified as ordinary income.
Was it? The new tax table was further divided into more categories compared to the old one but the max for both was still 30%.
589  Alternate cryptocurrencies / Altcoin Discussion / Re: MINERIUM ERC20 SCAM ALERT!!!!!!! [on polygon] on: February 04, 2022, 10:45:01 AM
This was one of the very first token I traded when I was still a beginner in 2017. I can't believe this token still exist after their failed attempt to launch a new business model which started in Ethereum.

~
where if we connect our wallet with their smart contract then we will lose the assets in our wallet without our knowledge.
Isn't that ironic? How would you authorize your wallet to connect without knowing what functions you are approving?
590  Economy / Economics / Re: India's 30% tax on income from digital asset on: February 04, 2022, 10:35:43 AM
~ If this policy is legalized, I think there will be a lot of people against it. because the percent of the tax is too high, and does not make sense if applied.  they should come up with a new better proposal and change the 30% to a reasonable numbers.
People's reaction are mixed on this proposed tax digital asset income. Some are understandably angry while others are okay with it because it's still better than a ban. Those who agree said it's just the first step though which probably means they are waiting for the actual law and also plan to make proposals to reduce in the future. If passed, I think it will take a few years before amendments will be made.
591  Local / Pilipinas / Re: $2.5B in stolen BTC from Bitfinex hack awakens on: February 04, 2022, 10:16:59 AM
~ Kase sa totoo lang, kahit mixer di gagana dito kase madaming experts dito sa industry na'to when it comes to hacking and tracing.
Gagana yan kung sobrang ingat ng hacker. Maaring nag-upgrade na ang mga tracing tools pero matagal na sana out of business ang mga mixers kung kaya nila trace lahat. Wala na din siguro naniniwala sa mga non-custodial wallets na may kakayahan din mag-mix o putulin ang link between addresses kagaya ng Wasabi at Samourai.
592  Bitcoin / Bitcoin Discussion / Re: Remember Bitfinex Exchange Hack of 2016 ? The stolen bitcoins are moving! on: February 03, 2022, 11:45:29 AM
~ The sad thing is this is just half of the amount which hacker stole earlier that is 12,000 bitcoins.
It's should be 120,000 BTC and 64K is more than half.
593  Economy / Speculation / Re: How come BTC is not at least $75,000 yet? on: February 03, 2022, 11:24:12 AM
How about the money that went into alts instead of BTC as another reason? It's possible that $75K would have been reached if there was only BTC.

I've seen a diagram showing the flow of money in different phases of a bull market and it's something like Fiat > BTC > Large Caps > Medium Caps > Low Caps/Gems then goes back to fiat/stable coins once the market turns bearish. The process is repeated market cycle.
594  Local / Altcoins (Pilipinas) / Re: My Defi Pet - DeFi meets NFT on: February 02, 2022, 11:41:09 AM
~ So, yung hubad na anak may nananalaytay na na sa kanya na aura dahil sa nanay niya? Ganon ba yon?
Tama. Ganyan nangyari bago ko napisa yung Ultimate Ao sa itaas. Rare lang magulang pero mga ninuno magagandang klase.

Tapos kelangan ba Gen 1 + Gen 1 para maging Gen 2? Or pwede Gen 1 + Gen 0 = Gen 2?
Magiging Gen 2 parehas ang anak dyan. Bale yung may higher gen na magulang ang masusunod tapos +1 lang sa anak.

Gen 10 (M) x Gen 0 (F) = Gen 11 (child)

Dagdag ko lang na kahit bagong panganak, magkakaroon na agad ng breed count lalo na kapag high gen. Sa halimbawang binigay ko, breed count niya agad ay 5 (pet Gen/2). Yan lang yung catch sa kanila, pwedeng maganda na genes pero dagdag oras naman sa breeding time.
595  Economy / Economics / Re: India's 30% tax on income from digital asset on: February 02, 2022, 11:30:35 AM
its just a proposal and provably many people who use bitcoin will protest against it since this plan made by their official can really hurt their pockets. Maybe this is their first step to discourage people to use crypto that's why this is pushed by certain official but hopefully this one will never pass so that people will not get affected to much on those possible implementation.
I would not dismiss this as a mere proposal because it's their Finance Prime Minister who is already talking. I won't be surprised if it becomes a law by next month.

This is pretty hardcore. It is like they banned crypto without actually banning it.
Nailed it.

~
When it comes to what bitcoin really is though, I guess everybody is free to make his/her own definition because it is decentralized. Some people define it as a currency, some other say it is an asset, some people would even dare to say it is nothing but a scam...

Who cares  about what they say?
Yeah we have different view but I still find it important to make a clear distinction from their perspective.

The solution is simple if you’re a Bitcoin HODLer. DON’T SELL, HODL.

OP, does India have the same rule that if you are HODLing your investment for more than one year, the profit is considered a “long-term gain”, and therefore the taxes are calculated at a lower rate than”short-term gains” of investments held less than one year?
Based on what I read, it seems like they made theirs much simpler. Taxes can only be applied when you transfer or sell your crypto. Anyway, it won't be long before this proposal becomes a law. Let's wait for that to get more details.

It's like ban or taxation.

I guess people from there would be fine if they just impose the ban and just keep quiet keeping their digital assets from them. Since they're not even going to know who are the people that holds and has it.
They will probably find it hard to implement this tax law at the beginning but I bet they have the means to track those who previously used custodial/centralized platforms to trade.

IMO they need to make the tax is tiered and not fixed as long as someone made profit.
For now, it's 30% but who knows if there will be future amendments? Maybe the crypto community there could have some power to make suggestions in the near future.

~ I'm sure therell be many fancy ways the cost of acquisition thing can have exploitable loopholes too unless it's very specific in the legislation.
We'll have to wait and see the actual law when it's out.
596  Economy / Gambling discussion / Re: [LIST]Countries Where Gambling Is Illegal on: February 02, 2022, 04:57:02 AM
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Progressive List, Feel free to add additional data and incorporate it with source.
You can find them most of them on an online casino's list of restricted countries. Curacao is an example. Despite granting licenses to different companies, they do not allow their citizens to online gambling. That's quite odd isn't it?

Conclusion:It's fascinating how some countries completely declaring gambling as illegal while implementing some amendments just to still sneak gambling in there country for there own personal gains reason
If you cannot stop them, tax them. It's the same situation with alcohol and other previously banned products.
597  Other / Beginners & Help / Re: Why the reduced publicity? on: February 02, 2022, 04:28:55 AM
~ A large percent of the people who know bitcointalk are the OGs, newbies visit more of clubhouse, crypto Twitter.
Many of the OGs probably left the forum a long time ago and I know some of them have huge followings on twitter now. When I was still active in that platform, I only saw 1 post from one of them mentioning bitcointalk and it wasn't even positive. The message was phrased like I made all these profits without visiting bitcointalk.
598  Local / Altcoins (Pilipinas) / Re: Crypto and The Music Industry on: February 02, 2022, 04:01:44 AM
~ Do you guys think they would also consider entering the metaverse?
Ilabng beses na din yata napalabas sa TV yung bitcoin at crypto (last yung Axie kung hindi ako nagkakamali) pero mukhang hilaw pa mga music companies dito sa Pinas pagdating sa blockchain at Metaverse. I know some local artists are already into NFT arts and P2E gaming kaya andun pa din yung possibility na sumunod naman ang music. Malay natin ma-engganyo din mga kumpanya na may hawak sa kanila.

During the pandemic and even up until now, the music industry is having a hard time organizing live concerts due to pandemic restrictions.
Panahon na ba for these local companies to seek out the Metaverse? Would you consider watching a live metaverse concert?
Probably not gonna watch (madalang nga lang ako manood ng libreng online concerts) pero it's probably a good time for them habang maaga pa dahil mukhang hindi na talaga matatalo ang COVID. Pwede bumaba alert levels kung saan allowed ang live concerts tapos tataas nanaman after a new variant at bawal ulit mass gathering.

599  Economy / Economics / India's tax policies on income from digital asset on: February 02, 2022, 03:45:34 AM
Update (June 23, 2022): They could add another 28% tax on sale of goods and services (GST).
Also, title change.

The proposal by the Indian Finance Prime Minister as announced during the Budget 2022:

  • 30% tax on all income/profit from sale/transfer of Digital Assets
  • No deductions allowed in the tax computation except the cost of acquisition
  • Losses are also non-deductible or cannot be used as an offset against other income
  • 1% Tax Deducted at Source (If I understand correctly, it's similar to Withholding Tax)

If you're wondering why they used 'Digital Assets' instead of 'Currency', they do not recognized crypto as a currency. The PM said it only becomes a currency when it is issued by the Central Bank (CBDC) and anything outside it is an Asset.

What are your thoughts on this?

It's a double edge to me. We have the legalization aspect (after so many ban proposals) but the rate looks quite high especially when they lowered the personal income tax rates (for certain income brackets) and the Capital Gains Tax appears lower too. It seems like they really want to get the most from crypto retail traders and investors because they know that there is a strong demand and a large number of transactions.

https://timesofindia.indiatimes.com/business/india-business/30-tax-on-digital-assets-all-you-need-to-know/articleshow/89267925.cms

600  Local / Pilipinas / Re: Bear Market thread on: January 30, 2022, 02:39:40 PM
Ano na ang nagawa nyo during this bear market?
Chill lang while slowly building port at account. May iba naman pinagkakaabalahan ngayon kaya hindi na masyado nagaalala sa price drop. Isa pa, marami pa din tokens na sumisipa ngayon dahil mataas pa din hype sa P2E NFT games at Metaverse (panandalian nga lang). Pwede ka maglagay kung malakas sikmura mo sa mga quick flips.
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