Advance happy Independence Day to everyone, missing those old childhood memories. Now my question is what do you except would happen whn we celebrate the 78th Independence day? Do keep in mind that we have Bitcoin halving and central election next year.
Since you mentioned the election is coming next year so until that the government won't be really concentrating on anything especially crypto is not anywhere in their priority list, so there will be no further harm meanwhile we can expect huge attention towards at the time which may bring more new people into the crypto community. I would like to propose that we as a community should have some kind of competition to celebrate this occasion. I would request active board members to have share some suggestions regarding it.
Cryptocurrency Trivia Quiz maybe the best possible option since we only have very less time so can create questions regarding cryptocurrency technology, history, names and for the right answers we can share some merits as rewards. Tagging @Heisenberg_Hunter in case if he wants to say something about that. |
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It's good that x.com is not banned by the Indian government thinking it as a porn site. I did saw an Instagram account saying it was banned but it isn't.
If x coin was launched by Elon I would definitely invest in it because Elon is doer and a project with active development, huge fame and support will surely get good profits.
If it was a xx or xxx then the government would have certainly banned those domain. For your knowledge purpose, xx.com is available and is for sale. Meanwhile xxx.com has already been banned by the government. A single X doesn't refer to porn or nudity by it refers to an X which also means multiple if we take it literally from mathematics. That is why Mr Musk renamed Twitter to X as he plans to add many more features to it. Most super apps have failed to make any mark in the past. Let's see how it works out for X.com. For the record, if Twitter goes with this level of nudity level, then we don't need the porn sites at all. (I hope you will understand what I am talking).  It's ironic that porn is illegal by law in India and banned in every site however they allow it on 'X' aka twitter with no restrictions at all which really shows that how strict the security system of India. How can we expect them to undersatand Bitcoin.  |
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you do know the next pump would be triggered by Elon Musk.
Funny things happen too and imagine what if Elon comes with his own crypto called 'X'.  |
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The problem with UPI lite is that it only allows INR 500 transaction per day without using UPI PIN. I am still unable to relate why I would need INR 500 transaction with the lite version. I could easily withdraw cash or borrow money for 24 hours from a friend for such an amount.
AFAIK, the value can be upto 2000 INR so I guess it differs based on the UPI wallet providers.  And the actual reason for UPI lite is to avoid transaction failure which mostly experienced by every UPI user due to bank server's down. Also, it makes the bank accounts statements clean instead of filled with penny transactions and 100s of pages. |
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To enable users to engage in conversation with AI-powered systems to make payment. With the objective of harnessing new technologies for enhancing digital payments, the RBI has proposed enabling 'conversational payments' on UPI, which will enable users to engage in conversation with AI-powered systems to make payments.Full articleGood thing is India is moving towards the trends and try to adopt AI into the monetary system but unfortunately I can't find relevant information about how this will actually works cause all I can see is about UPI LITE which is an already existing feature over a year which is used to make offline UPI payments but still can't able to relate with AI integration. Any thoughts?
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Agreed with your point as most of my friends including myself has done the same thing. But, like me there are others who have questioned the existing financial system and have joined the Bitcoin band wagon.
Yep it is true, People see crypto trading as a very good part-time job however the bitter truth is most of them fell for the shitcoins. If I am not wrong one of my friend asked suggestion about converting his BTC to SHIB after saw huge increase in the price so they all are just looking for short term gains not ready to look the real future. |
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Gold is part of Indian culture, our mom, sister, and wife would know the best. If every Indian woman reveals the amount of gold they have then it would be more than the US reserve. Yes, I agree Indians do not buy gold for an ROI but as per my understanding, this gold is kept as a reserve in case of financial emergency. I still believe the only reason we Indians do not invest in crypto is because of the risk. As an Indian, I am aware of a few friends who are aware of Bitcoin but won't risk an investment. When I ask them why they would say there are other investment options available like gold, mutual funds and property. All the three are less risky investment than Bitcoin at the moment.
Yeah gold is one of the best thing that we should have and as a matter of fact everyone should have at least 100 or 200gms of gold so in case of emergency they can use it as hedge to leverage some money but it cannot provide returns so it is not going to make you rich either and that is why middle class stuck into their financial status forever. Real estate is very good especially in India but how much people can see the real estate as an investment because it needs huge capital but with bitcoin they can start with any amount they can so over the time the returns will be more than expected and they can realize it only if they are willing to look at the bitcoin price charts. The only investment will cross every middle class is FD because they will have assured returns of 6% to 7% but with the inflation rate they are only paying out from their pocket at the end of year instead of getting any returns. |
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- What do you guys think about Bitcoin?
- What do you think the government will do about Bitcoin or other crypto in the next 5 years time?
- Has Bitcoin changed your living standard?
- Do you think Bitcoin can get you financial freedom?
1. IMO, I see bitcoin as a life savior for us to get away from this inflation trap because banks are making money out of thin air which makes the value of money to go lower and lower while our salaries are increasing proportional to the inflation so who bought money years back now made a life fortune out of it. 2. It highly depends on what the other countries do because if the countries push cryptocurrencies towards regulations and making it as legal then our government may have no choice than following the trend. 3. Yes, I managed to increasing my earnings at least 30 to 40% per annum by trading the crypto currencies but regretting about missing the earlier trains. 4. It is subjective to every individual and how they spend their money and bitcoin is just a tool to save the value of money so if they use it wisely then for sure it can get you fincnaical freedom and I beleive it in the same way. |
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Cryptocurrency is not gold, a property, or a physical product with value. It is invisible and many in India believe it to be thin air which cannot have an intrinsic value. Many believe it is a bubble that will explode when it is ripe. Many are not capable enough to understand its technology and many do not have the capability to use it in their favour.
I partly agree with you because not everyone in the investment will never be going to get the same interest on a single asset which even applies to Gold that everyone believes it is a great asset however gold is not entirely in the interest of most rich people because they know it is more of store of value than an asset that may give returns to them. But as I said we are not really at the worst place in the crypto adoption, it will take time for sure, but we are not going to miss the train for sure. |
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Firstly, this is not only the problem on Indians, the condition is just same all over the world. That is why they are called as influencers, they have the power to manipulate mass people into their way of interest for two reasons, one is they may get financial benefits, or they don't know anything at all. Actually, India is not really worse in the adoption rate as per the report  Source: https://blog.chainalysis.com/reports/2022-global-crypto-adoption-index/But we can do a lot better if government try to be supportive for crypto investors instead of hammering them with 30% tax. Finally, about the YouTubers there are some really knowledge ones too, but they don't have huge subscriber count as others but they know about cryptocurrencies and blockchain technology, so you are looking at wrong persons. |
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9. It is made and shipped from India.
Is there any evidence to prove this claim because I checked for company details, and it says it's Singapore based company. And It's not really hardware wallet, it's more of a crypto card that eliminated the need of backup seeds, which is not really recommended procedure for long term holding. |
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snip
I know this "ninja technic" to withdraw for cheap but on wazirx the withdrawal fee is 5trx and on bitget, okx its 1trx, Isn't its cheaper?, and on wazirx most of the tokens have disabled withdrawal option and some are on rapid listing. FYI, Bitget is not completely clean and you can see Bitget "Exposed" as "Chinese Scammers", Starts $100M Asia Web3 Fund, even though they are not completely scam exchange still their actions represent how much they can be trusted so I am willing to pay 4TRX more on better exchange like wazirx than on an exchange where we can potentially lose everything like bitget. I am not really familiar with that altcoins because all I do trade is BTC/USDT/INR so this works well for me with this but if you are more of an altcoin trader then try choosing better exchanges like Huobi and MEXC. |
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Also my binance account got blocked because of p2p trading dispute, I wanted to buy crypto but indian exchanges like wazirx don't has upi payment method and p2p prices are all high, they don't allow withdrawal after depositing through bank transfer or imps,etc. so I made account on 3 exchanges today bybit,bitget,okx all have very low fee to trade and allow derivative trading also, best p2p prices, low withdrawal fee, etc. I don't like indian exchanges seems like cheap.
I want to ask you that those exchanges support INR deposits? Withdrawal fees differs from one to another so we can't do much but if you withdraw from TRON network the withdrawal fee will be around 5 TRX which is only 30INR very cheap compared to BTC withdrawal fee which will be around 1200-1500INR and this can be helpful if you withdraw from any exchanges not just wazirx. |
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P.S If you want to be a web3 developer (crypto developer) / Blockchain Analyst, let us know so that I can recommend a few good books for the same I would love to know that Maybe I am not a developer, but it will be really handy if someone asks me about that. |
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Economics is wider subject so it is completely differs from bitcoin but once you understand the economic structure and how money works then you will understand why bitcoin is important. I suggest you to start with Rich Dad Poor Dad even though it may not work well for Indian economical condition it is good to begin with and If you are interested in books from Indian authors please let me know. For learning about bitcoin : Big Library of Bitcoin & Blockchain BooksAnd I knew a lot of Commerce and economics graduates with no knowledge at all about money, so don't think a degree is significant to learn. |
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I guess it happened because of the frustration post created by @pakhitheboss. He has been consistently creating topics and trying to engage everything on our board. I do understand that you Bitcoin Smith was the reason everything happened. Hoping we go rank up to where Russians
Every active member came back to the local board for two reasons. First being the raffle I feel by @Heisenberg_Hunter. He has been more active than he was earlier. The next would be @webtricks who helped everyone getting scared on the new tax, understand the basic, which was you pay 30% on capital gain and nothing else.
We can keep on encouraging everyone by meriting only those topics that are contributing to local board. Raffle doesn't make any sense as we don't have a huge traffic on our board. We need more intresting topic created by the legendary members. I am saying this because there are many pin post that are outdated as of 2023. To create more engagement we need more active participation of those who became legendary by activities.
There is only 20+ active members which is kind of really unacceptable comparing to our country's population 1.5 Billion.  Young generation kids are generating millions of posts across social media every few minutes from India and get nothing really beneficial for them so hopefully the things will turn around in some way. Raffle created short term and also @Heisenberg_Hunter active as merit source more often which is good thing. webtricks Is highly knowledgeable when it comes to educating us anything about legal and policy changes, hope to see further.
I really liked this word in your title Reincarnation. It is true from where we were some month back to where we are now looks promising. I don't think we need to do anything different at the moment. What we all are doing is good and we continue with it is important. Next year we have the halving event and in all probability we will see the next bull run. The traffic on our local board will return again.
Yeah that is the word that hit me when I see the changes so I wanted to share with others too that we are doing good. Bull run really bring more news about cryptos to India but they are not really aware of bitcointalk existense even if they do the only place they stuck with is Bounties.
Something is better than nothing which is why the growth we are seeing today is a positive sign for us to keep contributing in this board.
Keep posting interesting topics to discuss and that is how we can ensure further growth.
I am also keep checking the crypto related news to share with us but its like finding a pin in the haystack. |
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Maybe it may not happen gonna happen very soon in India since government yet to laid regulations and guidelines for crypto usage as payment mode but its likely possible to happen in other countries where the regulations exist which will definitely pressurize the Indian government to move forward in that way. So let's see about how UBER planned to make it possible.  |
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Did anyone noticed India's digital INR doesn't have the face of Gandhi. The opposition did not even look into this while the ruling party is quietly changing everything. With the national currency.
We can't expect anything more if we have leaders such as Finance minister - with no knowledge about finance RBI Governor - Who will agree to whatever the central government says Prime Minister - Who never address people's struggle And the list goes on indefinitely.  |
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I am not expecting a regulation from the Indian government till next year.
Every political part in India focused more on the next election, how to buy the candidate, how to aggravate the people with religion etc. Hopefully the next generation will not fall for this non sense abd will pick the right leaders and policy makers.
regulations won't stop financial crime if they were effective then many fiat currencies fraud would have stopped.
Because the laws aren't strict enough, which is why criminals are not hesitant to break them because they know with money the justice can be bought in our country.
The ones committing crime should think 10 times before committing the crime and creating such laws should be the goal for the Supreme Court.
If we can policies that will make this happen then India will surpass every other country in every aspects especially economically because we know we have all the resources we need.
I assume we can expect an answer from the government in regard to regulation soon. Time to just wait and watch.
This is really good news but the answer will be most likely we are working on it then it will be buried. |
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