Latest posts of: pakhitheboss

My primary reason for joining Bitcointalk was to understand and have essential knowledge about Cryptocurrencies and Blockchain. One of my friend told me about this forum.

There are wide range of topics discussed here, which is helping me in increasing my knowledge about Bitcoin/Cryptos.

I have joined few Bounties and Airdrop in this forum. This is one the best forum to gain knowledge, aswell as earn some tokens.

Why would any exchange store their Private key in a normal database?

They will keep them safe in order to avoid any security issues. I do not think that they would like to compromise the security as they make a lot money from you.

But, it is always advised to only keep those coin on the exchage that you want to trade. The one you want to HODL should be transfered into a suitable wallet.

There are three major difference that I am aware of.

1. Bank charge a hefty fee for transfer of funds. Cryptocurrency exchange do not.
2. Bank are controlled by Govermant and Cryptocurrency exchanges are not.
3. Bank have an opening and closing hours , plus they do not work on weekends. Cryptocurrency Exchange are open 24/7 365 days.

There are many more but these are the one where you can see a major difference between both of them Grin

Bitcoin is dependent on Fiat. It's value is determined by Fiat. You do not have any other way to measure the value of any commodity.

It is a cryptocurrency which means it only works on the internet. But in actual world it is still dependent on Fialt.

It is decentralized which means it cannot be controlled by the goverment nor any individual entity. This is the reason why Goverments of many countries have Banned Bitcoin trading. This proves that Bitcoin is providing independence from Government control to the users

Blockchain technology is already changing the way Traditional buisness was being done. Internet was invented for Military use. Lets see what next will get invented after using Blockchain tech for Military use.

Yes, not all hyped projects have done well. Hype doesnot always means that the project has got incredible potential. DYOR can help anyone to understand the project and take a decision whether to Invest or not.

The above statement is what everyone will tell you. This can be taken as a generalized statement. But, what does DYOR means?

Let me tell you what it means to me when I am planning to Invest...?

DO YOUR RESEACH OR DYOR means:

1. Establishing the potential of any projects product.
2. Understanding the Benefits involved. I mean does it benefit the technology and helps in adoption of Cryptos
3. Checking in brief about the team and their experience in this technology. This can be done by checking their Linkedin profile.
4. Checking their Github commits.
5. Questioning and Understanding their Roadmap.
6. Taking a brief look at their WHITEPAPER. Reading their WHITEPAPER and making notes of their headings will help you asses whether it is Fake or Genuine product.
7. At last establishing whether their Softcap is achievable.

I am not a professional Investor. I have learnt this the Hardway and with the help of this awesome forum. I was able to understand what DYOR means.

I may have missed some points, if you feel the same then do correct me.

Most of these so called Hate Mongers are Individuals who enter Cryptoworld without understanding the Technology or Bitcoin and wanted to become rich in a day. They have now lost hope and also incurred losses.

This is why they have stareted spreading hate and negativity against Bitcoin. It would be better if these Individual leave this Forum or else we make them delete such post by replying them with a lot of positive information about Bitcoin on their post.

First of all your heading is incorrect INDIA NEVER BANNED CRYPTOS.

Secondly RBI has not banned cryptos it has asked banks not to deal with Cryptocurrency exchange other wise you will not be able to transact in P2P SERVICE using your Bank account.

Third, you will still pay TAX whenever you recieve any cash into your Bank account. Do not forget money from P2P also has to credit to the Bank account.

I read somewhere in this forum that the reason for RBI taking this decision was because cryptocurrency exchanges were not transparent with their transaction details with the Bank. They suspected Money laundering was being done using these exchanges.

This is being contested in the Supreme Court by the Exchanges. So, it is better not to come into any conclusion and wait till a Verdict comes out.

Every Goverment that Bans Bitcoin/Cryptocurrency in their country always states the primary reason for Ban. That Bitcoin/Cryptocurrency are used for Cybercrime activity such as Terro funding, Money Laundering and etc.

Most of these allegation have not been proven. A new report suggest that they have not been used for Terror funding in Europe. The 72-page long study, titled Intenet Organized Threat Assessment 2018, thoroughly touches upon the various modules of online crime.

The report states that Terrorist main funding still stems from conventional banking and money remittance services,

Source - https://www.ccn.com/bitcoin-hasnt-funded-any-terror-attacks-in-europe-europol-report-reveals/

Do you think that Reports like this can pressurize Goverments to remove Ban on Bitcoin/Cryptocurrency?

Airdrops are simply waste of time so do not bother filling the forms.

80 percent Airdrop are Fakes and those which are genuine they wont pay you more than 1 dollar. It is better to stay away from Airdrops.

If you want to earn some free tokens/coin Join a Good Bounty program. The payment is still better than Airdrops.

Remember Before Joining a Bounty programme do your research about the ICO as scam ICO's are quiet common in Cryptoworld.

This new rule is Bad for Individuals like me. Who have been frequently contributing but no one is intrested in reading.

I am optimist and I know someday someone will read one of my post and provide me with a Merit to become a Jr Member.

I do understand that this rules is to curb spam and increase the level of discussion happening on Bitcointalk. But, people like me are suffering.

It would be nice if the managment can add an optional criteria for achieving Merits depending on the number of actual post written by an individual and if one of the moderators can check them.

How do you classify illegal and legal?

Why are you so concerned about the legality of Bitcoin?

What evidence do any goverment of a country has to prove Bitcoin is involved in illegal activity?

From 2009 till date Bitcoin and Blockchain technology has grown significantlly. I do not think Bitcoin need any kind of legal acceptance. Those who understand the concept and are aware about the Pros and Cons do not care about it. People are still investing and making profits.

This scenario of regulating Bitcoin has been created by the goverments in order to take control of the Cryptoworld. I am sure many members here will feel the same as I do.

Why do you want to convince people?

Scammers and Fraudsters are every where, so if someone says Bitcoin is a scam then let them think in that way.

Where money is involved scammers and fraudsters will be there. It is not our job to convince anyone about Bitcoin.

It is better that you should be convinced Bitcoin is not a SCAM. Grin

Fundamentally this has been the best year for Bitcoin. It has been in News throught this year for all the Good and the Bad reason.

This has created a lot of awarness among people about Bitcoin. Now days if you talk to anyone about Bitcoin they will have some information. This was'nt the case till last year. So. new traders/investors are ready to enter the market.

Goverments of different countries are now trying to find a way to adop Bitcoin/Cryptocurrency. They now know it is not possible to Stop it. That is why they are discussing about regulation.

These are all signs of Bull Market, So keep Calm and continue to HODL. Your patience will yield you high returns.