I have literally thousands of Pi coins sitting on my smartphone and I believe it's a scam bigger than we can ever imagine! First, let me ask you a question -

Let's assume you can get groceries free of cost from the government. Will you buy the same quality of grocery items from a private departmental store by paying them? The answer is most likely NO unless you have an abundance of black money lying in your house.

Now let's change that perspective to Pi coin. It can be mined through a mobile phone without using any computing power. So how on earth will someone buy that same coin from the market by paying money? It's a flawed logic from the very beginning.

Also you are expected to complete a full KYC if you want to withdraw your Pi Coins. I don't know whether this facility is available yet or not but the KYC is surely available. No one knows what they are going to do with your KYC data.

Stay away from it as much as possible.

If the company or a person running a Defi protocol is able to hide their identity, there's no way for a government to regulate them directly. However a government can always use a strong internet firewall to restrict access for it's citizens. So indirectly a government can regulate them.

Defi is posing a huge risk in the mainstream financial market today as it is very very easy to convert the black money into white. So it's a security risk as well as these can be easily used to finance terrorism activities and any kind of illegal money transactions.

Bad idea! If you are expecting a recession, then buying stock is a bad idea. Rather, invest in gold. Like Robert Kiyosaki said, invest in God's money. Don't invest in stocks if you really like to save yourself from drowning during a recession.

Crypto is also a very risky proposition but if the value of fiat goes down during a recession, the crypto is expected to outperform. So have some cryptos in your portfolio as well. But not stocks of the tech companies.

Hongkong and China are two different nations. Even though Chinese military claims their ownership on Hongkong, a large population of Hongkong citizens do not agree with such claims. But keeping politics aside, if Chinese people are again allowed in the crypto market, that won't be a good thing. Chinese are known for their expansionist mentality and also for creating a copy of everything. They will create another MTgox scam and loot away billions of dollars worth of bitcoin. They should just create a copy of bitcoin and use it internally.

Honestly I am against adding Chinese people from mainland China into this crypto network.

To op, what do you mean by fundamentals in a cryptocoin? Can you please explain?

After Bitcoin and ETH, very very few coins in the market have actual use cases. Rest all are just a blatant copy of other successful coins with zero utility.

So buying these coins are actually gambling. If someone wants to gamble, that's one of the ways to do it. But majority of these coins do not exist after couple of months after launching. The only beneficial people from such coins are their owners.

This is the time when we all need to remember the teachings of Mr. Robert Kiyosaki. Invest in God's money. I am glad to see that people are actually considering this. Gold and other precious metals are the best bet against any kind of recession. If you take historical lesson, you will see Gold has never failed as a capital protection tool. If US defaults, Gold will skyrocket almost immediately.

Bitcoin is still uncertain. No one knows how they are going to react during a recession. So a small percentage of your portfolio can become handy. Let's not think about who are stupid or not.

Lol! Pakistan is already facing a huge amount of unemployment issue. Private industries are almost non existent due to the political scenario. Yet the government has the guts to ban something which has the power to provide alternate income source to their people! That's hilarious!

The kind of political turmoil is ongoing in Pakistan, crypto should sit at the lowest level of their priority list. Not sure why the Finance minister of Pakistan is doing constructive things rather banning cryptos!

I would say this is better than seeing a drop! If I take an example of the stock market, usually it stabilizes for couple of days/weeks before taking a leap. It is making the foundation stronger with demand and supply stability. That's exactly what's happening in crypto market now.

There is a huge amount of uncertainty around the world. That's why we are seeing gold prices are constantly increasing. Among this turmoil, if bitcoin price is showing signs of stability, that's certainly good.

I doubt US will be defaulting in it's debt. But for discussion if I consider that will default on their debt, it will be an excellent thing for crypto market. Billions of dollars will be infused into the crypto market from various institutional investors to park their additional funds. Similarly Gold and other precious metals will also see a huge demand.

Corporates are sitting on cash piles so they will need to find an alternative solution to park their funds for short to medium term is US government starts defaulting. But this will not be great situation for the rest of the world. The world economy may go into a deep recession which will take longer to recover.

Indian government is trying to kill the online gaming industry as well as crypto industry in every way possible. This 30% tax has been imposed intentionally so that the people of India stays away from it. The thought is noble but the execution is poor. Probably some useless bureaucrats advising the finance ministry of such action.

Unfortunately the government isn't trying to address the main issue of unemployment. If people are unemployed, they will try to find alternative ways to make money. Government needs to understand the main challenge rather than just imposing tax. Quite unfortunate! 

Interest rate increase can help if the inflation stays below 20%. Beyond that, the impact of interest rate increase falls drastically. I remember reading a case study on this during my MBA days but can't really locate that material anymore. If the interest rate goes beyond 20%, people usually stop paying EMIs and start defaulting willingly. That puts huge pressure on banks.

The goal for Argentina now to take majority of the money out of circulation to reduce the purchasing power of their citizens to bring down the demand in the market. A drastic step like Demonetization is the only way out it seems. That's the only way to suddenly take out certain denominations from the circulation.

This is a very positive news. Bhutan was a carbon neutral country once but with this initiative they are probably going to loose that status. But given the weather condition there, it can become an ideal place for crypto mining. So it's a good first step for the country like Bhutan to start their journey in the technology sector.

The only thing they need to resist is the Chinese influence. It's a neighbouring country of India and since a long time India stood strong by them. I had a good fortune to travel there during my school life with my parents. But right now, Chinese government is trying to influence them just like Pakistan. If they really want to stay Happy, that's what they need to resist for good.

Better to not invest in such nonsensical things called NFT at all. The market is full with great investment opportunities, so make use of them instead of buying stupid NFTs. The NFT market is going to die soon so if you have already invested, try to recover them because it will be extremely difficult to recover if you delay.

Invest in Bitcoin or any other good coins directly. Buy Gold coins, buy stocks and insurance etc. Do whatever you want except buring money on NFTs.

I wouldn't disagree with the fact that everything in the world has pros and cons and Bitcoin is no exception. Do you think I will be very happy if Bitcoin stays like that? Absolutely no! I too want Bitcoin to back to normal sooner than later. But with all these nonsense ordinals are making the network unusable. So at this point, Bitcoin seems like an investment more than a currency system.

Bitcoin network honestly needs an overhaul. not via the sidechain but in the main chain. Probably block size increase is one of the long term solutions devs can bring in. But it's ongoing since a long time and nothing has happened till date.

Having knowledge will be great but may bring disaster for the Bitcoin network. If you are seeing the current situation with crazy high fees just because of some BRC-20 token, then you can imagine what the Bitcoin network would face if we add 385,000 people to the Bitcoin network every single day!

Bitcoin network can't handle such high traffic. LN can help but to a certain extent and also it is a sidechain. Unless the Bitcoin network goes through an overhaul to be capable of handling such exorbitant traffic, it will be great if they stop at acquiring knowledge only.

Webtricks has given the correct statement. But I want to add something to it. 

80G has a limit. You can not claim deductions even if you donate lakhs of rupees to recognised charitable trusts. You can only claim deductions of 10% of your adjusted gross income. That means, if you earn 5 lakh rupees, you can claim deductions only on 50,000 rupees. Doesn't matter if you donate your entire income, but no deduction can be availed beyond 10% of your total income.

The only way to avoid this tax is through gift vouchers which is not considered as income. But there is a limit as well.

Ripple has always been a centralized platform. It's not the first time they are providing services to banks. If your check the clients section of their website, it's filled with the name of banks and financial intermediaries. Ripple lab is a business entity at the first place.

So when a business entity launches something like this, it has business equation behinds it. Many governments are showing interest in CBDC lately. They are just trying to capture that market by providing a ready made solution that will allow governments to launch CBDC.

Financial freedom was never there with Ripple. CBDC is no different.

Localcryptos have also closed down their services. Another two options are Bisq and Binance P2P. I don't think they offer cash transactions though. But please note that these kind of transactions are quite risky.

There is another website called Noones which is a copied version of paxful. It's very new so not recommended either. The only feasible way I found is through Bitrefil. Where I am purchasing Amazon vouchers or redeemable codes from other eCommerce websites. That won't give you cash but at least you can utilise your cryptos.

Thanks everyone for your replies! So it's not a fraud game it seems and potentially I can try it. I had to open a thread here because Bitcointalk is the most genuine source of reviews.

Gambling is banned by law in my country. So they are marketing it as a mobile game rather than a casino. It's not just me, but multiple friends of mine are also seeing their advertisements.

Lol! How funny!

It's very clear that whosoever proposed this, has no idea about what bitcoin is or how it functions. Lawmakers can be dumb as donkey and this is one is a classic example of this fact.

Someone with a little experience in bitcoin can confirm that it is not gambling any way. But if I have to go by the logic of the lawmakers, they I will have to consider stock market as the main house of gambling.