Thanks for the latest update mate. I just find it weird that Indian Supreme Court denied a injunction filed by the petitioner. Usually this is the last resort of petitioner to at least put a halt on RBI circulation but it looks like win for RBI despite efforts by the petitioner. So it going to be a long battle and I think this will really make or break the Indian crypto community. The result will have a dramatic impact, so right now we should just sit back and watch how everything unfolds but we all hope that the outcome will be favorable not just for the Indian community but everyone who have been involved in crypto globally. You are right Amit! Even I am surprised that the court has denied an interim injunction on the RBI directive. But you know, Indian courts are not run by tech geeks, so I doubt they will understand the positive impact of crypto currency on the economy. So we can expect very little from them. Sadly, our country is run by religious leaders, so you can expect new temples to be built in no time, but when it comes to technological advancements, they turn blind to overcome their own incapability to understand technical things. A lot depends on this case, really! Lets just hope for the best! |
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They have a really complicated situation right now. Because the Government of India has officially stated that cryptocurrencies are not recognized legal tender in the country in short you cannot directly used cryptocurrencies as a form of payment in buying products, yet cryptocurrencies are allowed to be earned, traded, and mined. Lately the Reserve Bank of India, which is their central bank issued a note where they are notified banks not to open accounts related to cryptocurrencies as it can "potentially be used for criminal activities".
As to how things are going I think the legislative assembly of India is having a hard time on creating a law that will ban cryptocurrencies that is why they are acting to creating memorandums with the RBI. Which I think means some politicians are opposing the creations of a law which will ban cryptocurrencies in the country.
Rightly Said! Most of the information are correctly given here. However, I doubt any of the politicians are opposing the ban. Only 41% of Indian politicians are educated, so only a handful of the Indian politicians have the brain power to understand this new technology. Even a Member of parliament Kirit Somaiya said bitcoin is a ponzi scheme. So it shows their level of awareness about cryptocurrency and the related technology. I believe the main reason why Indian government has not yet banned crypto currency is that, they are not able to understand how to control it from being circulated. They are also trying to calculate whether they will be loosing on taxes if they ban it or not. So they have formed a committee with some economists and their report on cryptocurrency is still awaited. Probably government will take some action after the report is published. In the meantime, they are just trying to discourage the business community by issuing circulars through RBI. So to answer Op's question, Bitcoin and crypto currencies are not yet banned in India. But you can't use it as a legal means of payment for any goods or services, neither you can exchange it using your bank account. But there are ways to counter that rule as well through p2p exchange. Do a little research and you will know it. |
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hey, please don't trust your coins with these popular exchanges. today my exchange handled my details to my government and i am totally unhappy about that, as i have a group involved and i will be paying heavy taxes as the government thinks i am the one who made that money, but the truth is it was split between the group.
if the government doesn't compensate on bitcoin going down, then it has no right to have the gains too.
Please support decentralized exchanges, it will make governments to stop shitting about crypto gains taxes and other takedown noticed.
SUpport Decentralized Exchanges
Centralized exchanges around the world will have to report to their respective governments one day in future to continue with their business. They can't really avoid this because they have a business to run so they will have to comply with the directives of the tax authorities. Decentralized exchange is one way we can counter this situation. But I am really worried about handing over my private key to a decentralized exchange. I had used etherdelta for quite a few times to cash out some tokens that I had earned from various bounty campaigns, but the uncomfortable part starts when I have to import my private keys to that exchange. Even though I have never traded any significant volumes in Etherdelta, but I am sure, I will not be using any decentralized exchange where I will have to place my private key and the trade volume is higher. Am I missing something here? |
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If ICO draws some minor initial "seed" investment, what papers are signed? SAFT?
If the given ICO fails to hit its softcap, what happens?Have the early seed investor just lost his stake?
Please will you elaborate where I can learn this or maybe you know the ropes please could you share thank you
SAFT is a term used in venture capital market. So if a company has raised a certain amount from VCs, they must have signed SAFT with that VC fund management. But I am not sure whether they will be making it public because the early investors usually get a lot more priority than the regular investors and early investors usually get exorbitant amount of discounts. So usually VC management puts an NDA agreement in place. Secondly, if an ICO fails to reach its softcap. Then your stakes are not forfited. Failing to reach softcap means, the ICO will most likely wind up their business plan and the investors will get their money back. However, it mainly depends on the agreement put in place during the time of investment. For retail investors like you and me, the money is refunded by the ICO company. At least that is the expectation. Hope this helps! |
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Have you guys heard? Goldman Sachs will be doing futures instead of a proper bitcoin desk, which makes me sick to my stomach. These people are doing everything they can to sink the great Bitcoin game, but they will fail because nothing can stand in the way of progress. https://www.coindesk.com/goldman-sachs-to-begin-bitcoin-futures-trading-within-weeks/Goldman executive Rana Yared said the decision resulted from a growing number of inquiries from clients that indicated interest in holding bitcoin as an alternative asset. "It resonates with us when a client says, 'I want to hold bitcoin or bitcoin futures because I think it is an alternate store of value,'" she told the Times. AAAAAAND what do they choose? Friggin Futures of course. It's true that Goldman Sachs has decided to start bitcoin futures instead of trading into raw bitcoin but there are few reasons behind it. The main reason is the legality of bitcoin and cryptocurrency in US. The legal areas are still unclear and the US government is playing a double standard game using their enforcement agencies. So dealing in real bitcoin can get them into a legal mess. That is the reason why they have chosen future derivatives. Where their clients will be benefitted from the price fluctuations of bitcoin but no actual bitcoins will be traded or handed over in that process. Laws will be maintained and the end goal will be achieved. |
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The Supreme court of India has ordered to consolidate all petitions against the RBI regarding the crypto ban circular. Next hearing date is July 20, 2018. However, the court refuses to put stay on the circular and says it is still in force until the court comes to a conclusion. Here is the picture of some of the court cases filed by various petitioners.  There are many other pending cases which will be consolidated with the main petition. Information and picture courtesy: CryptoKanoon Twitter handle. |
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Let's say you bought a bitcoin for $1000 in January 2018. <Just an example, not the real price at the time> So you have to beat inflation and also the performance of other investments to say that your Bitcoin investment was a better investment, than other alternative investments. Let's say your inflation is 5% and your best return on some other investment is %20 per year, then your Bitcoin price increase will have to be more than %25 to beat the alternative investment. Let's say you hoard for 5 years, then you would need a price increase of 125% to beat your alternative investment returns over 5 years. So we cannot have a price increase of 800% in year 1 and then a price decrease of %400 in year 2 and another price decrease of 200% in year 3 and so on... Hope you get at what I am saying. Hoarding might be harmful to your profits, if you do not cash out SOME profit on the ATH.  ..... You might end up with a bitcoin worth $100 in year 5.  You are correct! Blindly hoarding your bitcoins can be proved harmful if we are not cashing out some of it during the peak prices. because bitcoin has a very limited use in digital form, especially in my country. So I always have to cash it out to make it useful. However, I also use another small trading strategy. I always keep around $500 - $600 of liquid funds in exchanges to execute trades whenever an opportunity arises. I take the moving average into consideration and invest during the price decrease. Just to give you an example, Bitcoin price on 10 May: $9,300 Bitcoin price on 16 May: $8,227 Difference of: $1,073 If you monitor the market very closely, you can see that bitcoin's price moves within a certain price ranges every week. I just try to identify the low and enter into a position by exchanging my USDT in to bitcoin. So here I have entered in to a position yesterday and I will wait for the price to go up at least to $9,000 before squaring off my position. It may take few days but once it happens, I exchange back my bitcoins to USDT again by scoring a profit of 9.4%. That's a profit of $56 dollars which is equivalent to 3.7k in my local currency. I execute such trades once or twice a week to maintain some liquidity in my hand. I have written this down because I always put a minor percentage of my bitcoins to work instead of keeping them idle. That's inflation proof as well as provide me enough liquidity whenever needed. |
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Amit, I have received your payment. Thanks a lot! Let us know when the second tournament is starting. I will be better equipped this time! The last two matches I played while waiting for my cab to go home after the office. I was Very Exhausted after 9 hours shift and couldn't concentrate properly! This time, my strategies will be different!
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Well you know it's super funny about how people are sharing their stories about being Satoshi nakamato and how they were hiding underneath and how they are ready to get the limelight. https://www.google.co.in/amp/s/www.cnbc.com/amp/2016/05/02/bitcoin-inventor-satoshi-nakamoto-finally-revealed.htmlNot just there there is also this one Indian claiming to be the founder And what's funnier is that there is this man that goes by the name of Satoshi nakamato and he denies that he is the creator of Bitcoins https://youtu.be/BoboO6QPGow What do you think will we be able to find the real Satoshi nakamato before we die ? 😂 Idk it's getting funnier and funnier. P.S. Some people claims that it's been invented by Artificial intelligence ... Good bye world ! 😂😂😂 We have seen a lot of funny claims of many people around the world about themselves being the creator of bitcoin. But I personally don't want him to come to the limelight. I believe the creator of bitcoin deserves a happy and peaceful life. If Satoshi Nakamoto comes out in limelight, a majority of the enforcement agencies will try to capture him and put him behind the bars for his innovation. I don't think he/they deserves that. The world is full of mysteries and one addition to that will not do any harm. But the revelation of the true identity will make a lot of harm to him as well as to the entire crypto community. |
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The Supreme Court has struck down a 1992 federal law that effectively prevented most states from legalizing sports betting, clearing up a legal gray area and opening a door for state governments to join in what has become a lucrative industry.
"Congress can regulate sports gambling directly, but if it elects not to do so, each State is free to act on its own," the court wrote in a decision released Monday.SourceI was extremely surprised that the current right leaning court would be the ones to overturn sports betting but a 6-3 decision is a pretty strong one. This can only be a good thing for gambling, as there will be an influx of US bettors and more competition, leading to lower juices, better UIs, etc. Free and borderless economy is the future and such legal restrictions are not helpful to an economy. Sports betting is a billion dollar industry so you can imagine the kind of tax revenue US government can earn from it. I believe the US government is eying that revenue only especially when it has gotten into a import export duty war with another big economy like China and constantly on war with middle east. I welcome this step taken by the US supreme court as it will bring more competition in this industry and help it become organized while making the end users benefitted. |
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It's not a negative way of earning , gambling is more like a easy sort of way for making quick cash and the chances of making that is possible but the problem is within the people who use this method , most of them do make profit but because of there greed they continue to gamble and lose it all. This is why many consider it to be negative otherwise there are many ways to make money from gambling
Definitely right mate. Many have understood the existence of gambling when the real purpose of it is to give pleasures and entertainment to people. But because gambling gives us quick money that is why people tend to gamble to gain more without thinking that there is no way to always win in gambling and most of the time gamblers losses. And because they tend to bring back what they’ve lose, it ended up with more losses. Gambling is something not good for anyone of us and that it only results in loss of money. It is just like an addiction of alcohol or any other drug and the one who gets into find it very much difficult to get rid of this curse and at the end, he is only left with regret as he has lost all his money in gambling while trying to make some good earning. We all need to make ourselves understand this thing that there is nothing good in gambling. That's just one part of the story and not the complete one. I understand and agree that gambling addiction is not good and a lot of people have lost money for their gambling addiction. However, there are people who have won big in gambling and secured their future. Even though they are less in numbers, but they exists. If you are continuously loosing money in gambling, you must leave the game and never come back because not everyone is considered as winner. People loose money and majority of the gamblers understand the risk of gambling. Why blaming the entire industry for that? |
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The Obvious Manipulation and the idiots with their technical analysis getting excited over nothing
It is so obvious that some kind of manipulation is choking the potential price increases of all cryptos. So what is the point of all youtube vids, reddit threads, telegram announcements about new developments. Price will hardly increase anymore.
Those bastards have done it and are weakening the potential gains investors could have.
Manipulation was always a part of mainstream stock market even after heavy regulation by the watchdogs. So it is no surprise that manipulation will take place in crypto market as well where there is no regulator of the market. So big tank sharks with deep pockets, will use the market on their favor, that's an open secret. However, I am failed to understand one thing. I will appreciate if any knowledgeable person can help me understand this. Lets assume I have 10,000 of bitcoins with me and I am considered a shark or whale whatever you like to call it. Why would I manipulate the market to go down? What's profit I can get out of it? If I have a high exposure in bitcoin, I would always want the market to go up because my net worth will be increasing along with that. The price decrease will not be helping me in any way. That's the basic understanding I have. Can anyone please clarify? |
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Hello, friends!  I want to talk with you about the technology Blockchain. Everyone is obsessed with Bitcoin, but many people do not suspect that Blockchain technology is much more global and more interesting. Strong minds predict a future for him and a real revolution in all spheres of life. I quote from the book "Blockchain Revolution" by Don Tapscott, Alex Tapscott. ""Imagine now that your" virtual self "actually belongs to you, being something of a personal avatar, and" dwells "in the" black box "of your identity that is closed from outside interference, so that you are able to monetize your data flow and publish only that information about yourself that is required to implement that or other law. Why on your driver's license to indicate any information other than that you passed the exam and demonstrated the ability to drive a car? Imagine a new era of the Internet, where your personal avatar manages the contents of your "black box" and guards it. Your faithful software servant gives only the necessary data in the prescribed volume for each situation and simultaneously picks up for you the crumbs of information that remain in your way in the digital world.
It may seem that this is a science fiction like the "Matrix" or "Avatar." However, today, blockchain technology makes this a reality. Joe Lubin, CEO of Consensus Systems, calls this concept "permanent digital identity and electronic persona" in the blockсhain."
This sounds promising and truly constructive.. What do you think about it? This topic is certainly worthy of attention. My opinion, it will be interesting to read for beginners. Experts of Digital World, please share a constructive and professional opinion on this topic. It's both fantastic and probably unavoidable reality! Blockchain is not only about bitcoin. This is bitcoin is just one use case for blockchain and its power didn't end here. Corporates and governments have begun to understand the possibility in it. Tech giants like facebook has appointed their head of messenger to a new role for exploring blockchain technology to be used within facebook. JPM bank has already applied for a blockchain related patent. A country like India where 41% of the parliamentary members are uneducated, have also tweeted that they are exploring the possible benefits of blockchain. Blockchain is truly a technology of the future. Slowly but surely we will see it implemented in almost every areas of our daily life. |
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What are the differences between online and traditional gambling ? Which you like the most and why ? In my opinion both the types of gambling have got their own advantages and disadvantages. You can try both for some time and then choose one based on your convenience.
Both are entirely different thing. Traditional gambling is far more diverse than online gambling option. Also traditional gambling is a measure of social status and you will hardly find people from lower income group inside a casino. Whereas online gambling has made gambling more accessible to all segment of the society where people can come and play with lower stakes and without any prejudice about their competitors. Also the next thing difference is the availability. Casinos are not present everywhere. If I want to visit a casino, I will have to go to a different state of my country. Also I will need to have a certain amount in my bankroll which is way huge for a middle class person like me. So here online gambling comes handy by providing convenience to the gamblers. |
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Bill Gates: I’d Short ‘Crazier, Speculative’ Bitcoin If I Could Microsoft founder Bill Gates issued critical comments about Bitcoin May 7, telling CNBC it was a “greater fool” investment and he “would short it if he could.” In comments during the network’s Squawk Box segment, Gates, who in February claimed cryptocurrencies had “caused deaths in a fairly direct way,” nonetheless did not discount the idea of engaging with it himself. “As an asset class, you're not producing anything and so you shouldn't expect it to go up. It's kind of a pure 'greater fool theory' type of investment,” he said. read more, https://cointelegraph.com/news/bill-gates-id-short-crazier-speculative-bitcoin-if-i-couldBill gates is an awesome personality but that doesn't mean what he thinks will be true everytime. I remember, his old friend Mr. Buffet was also present in that show who is a known hater of bitcoin. So I believe it's just peer pressure.  But seriously, market has learnt to ignore such comments from conventional old timers. They have lived their life and now it's our time to live ours. Why bother listening to them? Even the crypto market doesn't show any impact to such comments anymore. Simply ignore! |
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There are a few good points made here. This is one potential scenario under which universal basic income might have a hope of succeeding and balancing out global economies. It could easily turn into a disaster like social security where excess collected taxes are consistently spent on things which have absolutely nothing to do with social security. Many taxes like road taxes, which are supposed to be utilized towards maintaining roads. And telecom taxes which in theory, are supposed to be spent on maintaining or upgrading internet or telecom infrastructure are often spent on war in the middle east / programs which are 100% unrelated to those things. The potential for disaster or misuse of funds is very high. But there is a slim chance the program could be successful and achieve its intended end goal of redistributing wealth from the rich to the poor, like robin hood, in an effort to stabilize economies and prevent societies and civilization from ultimately collapsing. And things like that. Whatever the worst case, scorched earth, scenario is here in regard to things like UBI. Firstly lets call it "USA Basic Income scheme" instead of calling it Universal, because that's what it is. Secondly, the scheme looks good in theory but hard as hell to implement. It seems like the government has to take up a job like Robinhood. get money from the riches and distribute it to the poor segment of the society. This is not a sustainable model at all. If the government wants to provide basic income to the poors, they should look at two very important factors, 1. Providing basic free education till graduation and provide subsidy after that for higher education. 2. Look at the health of the production and heavy engineering industry and facilitate for more such industries. These are the only ways to ensure a basic income to every household of the country. Government need to empower people instead of distributing free fund to make it sustainable in long run. Providing free fund to every household will certainly boost the retail market for a while because some people will have higher purchasing power, but it will be stagnant soon after the initial boost. The growth will be capped upto that limit. However, empowering people and the future generation by providing free education will have a very significant impact on the economy along with facilitation to open up new production industry. People will be more equipped with knowledge and the production industries will be there to provide them with jobs, which will in turn ensure a certain level of income to them. This is how a sustainable economic model can be built. Taking funds from the riches and re-distributing them to the poors will have a very limited effect and not sustainable. |
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Hi everyone,
I have some thoughts about the future of cryptocurrencies. At some point, even if they do not get to be regulated, still the countries will have somehow their own digital currencies issued. How do we make sure that BTC will dominate the respective national cryptos of each country? Or BTC will eventually turn entirely into an asset, leaving space for other currencies as means of payment?
Simply thoughts about the future from a new guy.
I don't think any altcoin is a threat to bitcoin. If it happens to be a threat, by now we would have seen an impact especially when market is over burdened with thousands of altcoins. Same goes with national crypto currency as well because a national crypto currency will have boundary limitation and it will be strictly centralized. So the users of bitcoin will continue to use it without even giving a second thought. Probably some percentage of their portfolio will go to their respective national crypto but bitcoin will remain as the king of all time. I don't see any competition between these two. |
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This guy is the CEO of Bitcoin... (I am not making this up) LinkedIn twitter He just got nailed by USA cops!! Money LaunderingInterview on the arrest... Interview (Tone Vays is such a wanker. What is with the stupid heavy forward comb-over? Hilarious!) The price is going to tank bigly when this gets out. The US is arresting EVERYBODY!!!! I am pretty sure this is the real end of Bitcoin. You can't have your CEO in jail and expect things to get done. Mr. Morgan Rockwell was the CEO of bitcoin academy. It's just another business built around the crypto curreny. He was also a president of Defend BTC which is a company that provides legal services to the crypto businesses. I see no direct relation of him with the bitcoin here. He was just another person with a crypto related business. I don't see any impact of this news in the bitcoin market. US is playing double standard game and majority of the crypto users are aware of it. Also bitcoin doesn't depends on a single person. So I am pretty sure that this is NOT the real end of bitcoin. It can't be! |
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Please count me in!
BitcoinTalk Username: Avikz
Clash Royale Name: Same as forum name, Avikz
Clash Royale Tag: #Q9CO2PQR
Clash Royale King Level: 11
Bitcoin Address: 18BN5y2mSjH6pbSPjjVgVM9jQdSuijYD4R
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