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961  Economy / Economics / Re: "...all of the bitcoin in the world for $25" on: May 13, 2022, 08:31:40 PM
Warren Buffet recently made a strong declaration that he wouldn't buy all of the bitcoin in the world for $25, and it gave us a better glimpse of how he really views cryptocurrency. He went on to say that Bitcoin "doesn't multiply" and "doesn't produce anything," which is true if you think about it, except what multiplies in BTC is its value. I wonder what would make Buffet change his perception of BTC. Or maybe he's just trying to influence the crypto market for a bargain buy.
His idea of investing is exceptional and to be honest really impressive, he never invests merely because there is a demand for something, for him asset is only something that has value in terms of Current as well as future cash flows. If there is a startup that has a huge customer base yet has no real cash flows he will still consider that startup to be a dull investment because eventually, it has zero value in terms of cash flows it can provide in the future. If you think about it, practically in a business sense he is right, what good is a business in which you are continuously putting money but it doesn't give you anything back in return? But to be honest, investing has changed alot in past couple of decades, now people not only invest for future cash flows but also for a capital gain due to increased business base in the future. People see prospects of a cash flow as a bigger and undervalued asset as compared to a real cash flow. He is right with his thinking but this doesn't mean people having BTC for 50k are foolish.
962  Economy / Gambling discussion / Re: 🔥 BTC365.com 🔥 IPL Prediction Pool 2022 & Discussion(Participants Only) on: May 13, 2022, 07:00:15 PM
RCB once again are choking towards the end of the tournament, now they have just one match left which is against the table toppers and inform team Gujarat Lions which means it is not going to be easy to get away with a win, PBKS, on the other hand, played really well, I think the sacrifice Mayank is making as a batsmen for bringing out best of Bairstow is really working, Only if Dhawan remains consistent, they now have a really strong first 6 batsmen list, I still feel they lack a bit on batting depth which you need especially if you are chasing a total. But to qualify they still need to win 2 in 2 which is going to be a tedious task, their one match is with LSG and other with DC which would be a knockout for both the teams. I think today's RCB defeat has kept the tournament still open for all the 3 spots to playoffs.
963  Local / India / Re: 30% TAX and 1% TDS applicable dates on: May 13, 2022, 06:53:21 PM
@UCK!!!

"The 🇮🇳 GST Council Is Likely To Levy 28% Tax on #Crypto Transactions."
https://twitter.com/bitinning/status/1523573434760187904
I am sure the GST won't be on the purchase or sale amount, GST might be on the transaction fees that the exchanges are charging, 28% on buying cryptos from exchanges make zero sense, even if the law i brought to kill the market it must make sense in any law, charging GST on purchase or sale amount of any financial asset is idiotic, because eventually you will have to give ITC on such GST as well, and you will never be able to collect tax because people will eventually sell it and pay GST taking credit of the GST they paid on purchase, so I am sure there will never be a GST on the purchase/sale amount it can only be on transaction fees.
If it comes into play then i won't cash out anything, i rarely cashout anything anyway but they are literally saying that they don't mind if you move out from the country.

Also representative from the Indian crypto community recently met with the government. After checking few articles it feels that Gov want them to come up with the solution of how to tackle the terror funding and due to this very reason they are not hearing anything else so anything is possible.
There is only one way to stop terror funding, which is pretty easy, I don't know why government is reluctant to follow that, give licenses to crypto exchanges and reduce the tax rate on crypto transactions done through exchanges, either put a big chunk of tax on transactions done without proper KYC exchanges or just illegalize them or keep mandatory reporting requirement, now hunt down people doing this business in cash, just how you track them down currently. This system would allow crypto business to prosper, at the same time allow investors to invest with lesser tax and at the same time would bring down problem of terror funding a lot. I don't know why are they keeping such exhorbitant taxes on transactions made through exchanges, as this is ultimately motivating people to do transactions offline.
964  Bitcoin / Bitcoin Discussion / Re: Heavy crypto kyc not good on: May 13, 2022, 06:50:19 PM
If heavy kyc start to coming and too many regulations then im out of crypto so as many others.
If we want to crypto survive then we have all ready too many regulations and kyc is all ready too much.

Off course who will lose ? The wall street off course so im sure they dont let their buddies in goverment place too many rules over crypto if it too regulated.

Anyways regulations and kyc is insane its not goverment business nobody business how when and why and where is my wealth and money.


I think KYC has it's own pros and cons as well, pros as in, whenever a fraud would take place it is obviously much easier to get hold of the people responsible behind it, therefore even recovery is easier in such a case too, also in minds of the general public this would increase trust a lot and eventually lead to wider adoption of cryptos, on the other hand KYC is bad as it very much defeats the whole purpose of cryptos, also if the government would bring insensible laws for controlling or regulating cryptocurrencies then obviously it will make it difficult for a free market to prevail, not to forget how easily these KYC data gets leaked and is available for cheap bucks in any blackmarket.  
965  Other / Politics & Society / Re: Can America end the war in Ukraine?? on: May 13, 2022, 06:42:22 PM
Russia, being the largest nuclear Power ahead of America, have dropped anchor in Ukraine since February, have made it a life's mission to bring down Ukraine, upsetting the mundane life activities of its citizens.
 While Ukraine is older in years to Russia, the latter seems to have increased in size and economic, military might. Because of this growth, they now see Ukraine as younger and are dominating them.
 America have been known as one the countries who feel the strike against Ukraine is not necessary.
Recently, during the Easter celebration in Ukraine, they were visited by both secretaries of state and defense, Anthony Blinken and Lloyd Austin. These two managed to put a little hope in the hearts of the people of Russia.
 My question is, it's true that America's military might is more than Russia, can they be able to defeat Russia out of benevolence or is there something attached?? Your thoughts please. https://www.economist.com/europe/america-is-now-thinking-of-winning-the-war-in-ukraine/21808960
Yes It is true that America's military is much stronger than that of Russia, In fact, if you understand Geo-politics, America's or NATO's interference in every world Conflict is a big reason why this war is happening in the first place. But is having a stronger military enough to win the war or at least in this situation stop a war? Answer is NO, unless it's 1945 and America was the only nuclear nation this would have been possible because US would have threatened a nuclear strike which is much more devastation than Russia would ever be able to do, but it 2022, Russia has equally strong Nuclear Arsenal to US, if US threatens nuclear strike, Russia will retaliate. So answer is NO, America with it's army can surely not end this war, but Diplomacy is the only solution here, if US can pitch in some agreement among both countries then they might be able stop this war.

Diplomacy with Russia is not possible because of its kleptocratic, fascist government. No agreement signed with Russia will hold.

The only way forward for Russia is to undergo a fundamental, progressive shift to a democratic, open society.

Russia has a lot of potential, and resources, but the country has been hijacked by a small group of Soviet officials who brainwashed the vast majority of the Russian population. Alcoholism and drug abuse are rampant. Russian society is regressing, intelligent people are leaving in droves. Russia is rapidly transforming into the Soviet Union. And we all know what resulted from that social experiment.

I think this war with Ukraine will lead to the fall of the current Russian government, complete demilitarization of its nuclear arsenal, and
potentially a territorial breakup of the Far East and Caucasus regions. Think end of Cold War 2.0.

Ukraine will get all its territories back.  Not tomorrow, not next month, but eventually.
First of all, No matter how autocratic any regime is, diplomacy is always the way out to solve any issue. Secondly, I don't feel a bit the same about the Russian people, Russia is a growing country, it has many geographical challenges, and too cold inhabitable areas & vast territory are just to name a few. Drug Abuse death rate in Russia is lesser than the United States( unless you feel US is devastated by Druge abuse too). Thirdly, talking about political leaders brainwashing a certain set of population, this is a technique followed all around the world China, India, Trump Regime to name a few.

Talking about the post-war scenario, it's not at all possible to defeat a country today using military strength if that country possesses a nuclear arsenal, even if the government somehow internally falls, there is no way a country would give up it's nuclear arsenal, the new regime would always want to keep this option with them in case of an external conflict. So all this is really a hypothetical scenario, the worst thing that would happen to Russia is that they might bitter their relations with the West in the future but until they have China in their support, I doubt west will do anything about it.
966  Economy / Gambling discussion / Re: 🔥 BTC365.com 🔥 IPL Prediction Pool 2022 & Discussion(Participants Only) on: May 12, 2022, 07:45:49 PM
CSK is shitting the bed... Again!! But this time with inform top order.

Daniel Sams is breathing fire with his swing and seam, single handedly created mayhem in CSK's camp and top order. Fans wanted to see this MI at start but it's too late, no extra points for this late burst.


edit

Felt like a bitch slap Lips sealed..

No wonder ratings are going down.
Haha Finally first time after IPL 2016, we will get a new winner to this IPL, I really want IPL to become a bit more competitive like this, If MI & CSK or any other team builds so many wins and gets a huge fanbase, it will just become like Premier League, people only watching matches of MAN U, MAN C & Chelsea and rest of the teams just having small fanbases. But yes this match today which a lot of people call El Classico of IPL didn't really felt like one, anyways bottom 2 teams were fighting and they also batted like they are playing blindfolded, first CSK collapsing and then MI collapsing while chasing such a small target.This really shows how out of form both the team are this year.
967  Economy / Trading Discussion / Re: TA or FA which is a better choice for market speculation. on: May 12, 2022, 07:40:25 PM
When it comes to the crypto market, FA is not even a choice, atleast talking about the traditional fundamental analysis, the main discussion points are P/E multiples or EV/EBITDA multiples but the crypto market doesn't works on these principles at all, we barely go ahead and calculate earnings of any crypto company before we buy their cryptos, FA in crypto is more about which coin has the best utility and solves a problem in the long run, other than that all these coins are just shitcoins deriving their value from something or the other. So in Cryptos only best option which you have for market speculation is TA. 
968  Local / India / Re: 30% TAX and 1% TDS applicable dates on: May 12, 2022, 07:33:58 PM
@UCK!!!

"The 🇮🇳 GST Council Is Likely To Levy 28% Tax on #Crypto Transactions."
https://twitter.com/bitinning/status/1523573434760187904
I am sure the GST won't be on the purchase or sale amount, GST might be on the transaction fees that the exchanges are charging, 28% on buying cryptos from exchanges make zero sense, even if the law i brought to kill the market it must make sense in any law, charging GST on purchase or sale amount of any financial asset is idiotic, because eventually you will have to give ITC on such GST as well, and you will never be able to collect tax because people will eventually sell it and pay GST taking credit of the GST they paid on purchase, so I am sure there will never be a GST on the purchase/sale amount it can only be on transaction fees.
969  Economy / Trading Discussion / Re: Are you using trading indicators? on: May 12, 2022, 07:06:04 PM
It is quite a while I have been on this forum, I have noticed some people saying they are not using trading indicators for trading, some people highly recommend people to use indicators. As for me, I have noticed to better draw lines or just carefully look at the candle sticks which significantly got me many information about the next steps to take. Out of all the indicators, I have preferred the RSI but which I can still also predict from the candle stick and I like drawing lines which can easily indicate the extent market increase or fall.

I just want to ask this question, are you using indicator for trading? If using it for trading, is it helping you. I just want to go beyond what we are reading online and see what people will have on this.

If you are using indicators for trading, which ones have you used that make a good trades for you?
Indicators are obviously useful, they don't give you trade ideas directly but indirectly they help you in identifying which trade is valid and which is invalid by creating something we call confluence, having 2-3 indicators by your side ensures that you get enough confirmation before you enter into any trade. Deciding which indicators to keep that obviously is pretty subjective, RSI is the most popular one for sure, a lot of people like that because it helps in identifying trends as well as the momentum of the market. Along with that EMA/MA helps you in identifying accurate demand and supply zones to help you identify potential pivot points.
970  Bitcoin / Bitcoin Discussion / Re: UST Stable coin depegs from dollar USD may Crash BTC,cause crypto death spiral on: May 12, 2022, 06:59:32 PM
You are absolutely right about this, basically, what LUNA used to stabilize the Peg of USD=1$ was they used to create more of LUNA in order to increase the total value of their USD peg available, similarly they burn LUNA in the other case, now the price has fallen so much that they will have to create a huge amount of LUNA in order to peg that value back to $1, when they go ahead to that LUNA which is already falling in price falls even further, when it falls even further, the foundation has to buy even more LUNA in order to peg the dollar value this is creating a cascading effect therefore making it impossible to protect the peg created ultimately subsiding the ecosystem, only way to protect UST is if someone buys out the whole system and backs every UST with USD. Other than that we don't have any way out.
971  Other / Politics & Society / Re: Can America end the war in Ukraine?? on: May 08, 2022, 08:25:11 PM
Russia, being the largest nuclear Power ahead of America, have dropped anchor in Ukraine since February, have made it a life's mission to bring down Ukraine, upsetting the mundane life activities of its citizens.
 While Ukraine is older in years to Russia, the latter seems to have increased in size and economic, military might. Because of this growth, they now see Ukraine as younger and are dominating them.
 America have been known as one the countries who feel the strike against Ukraine is not necessary.
Recently, during the Easter celebration in Ukraine, they were visited by both secretaries of state and defense, Anthony Blinken and Lloyd Austin. These two managed to put a little hope in the hearts of the people of Russia.
 My question is, it's true that America's military might is more than Russia, can they be able to defeat Russia out of benevolence or is there something attached?? Your thoughts please. https://www.economist.com/europe/america-is-now-thinking-of-winning-the-war-in-ukraine/21808960
Yes It is true that America's military is much stronger than that of Russia, In fact, if you understand Geo-politics, America's or NATO's interference in every world Conflict is a big reason why this war is happening in the first place. But is having a stronger military enough to win the war or at least in this situation stop a war? Answer is NO, unless it's 1945 and America was the only nuclear nation this would have been possible because US would have threatened a nuclear strike which is much more devastation than Russia would ever be able to do, but it 2022, Russia has equally strong Nuclear Arsenal to US, if US threatens nuclear strike, Russia will retaliate. So answer is NO, America with it's army can surely not end this war, but Diplomacy is the only solution here, if US can pitch in some agreement among both countries then they might be able stop this war.
972  Local / India / Re: Is it mandatory for individuals in india to disclose crypto holdings? on: May 08, 2022, 08:18:22 PM
Is it mandatory for individuals in india to disclose crypto holdings or is this law only for companies?
https://news.bitcoin.com/indian-government-requires-companies-disclose-cryptocurrency-holdings/
So far it is only mandatory for companies to do so. For companies bringing this control is pretty easy you just add this point in the Annual Return that all the companies are required to furnish and tadaa , you will get details of all the crypto holdings of these companies, I won't be surprised if in future this comes in the Income Tax Return as well, and if it comes in that then obviously every person will have to submit their crypto holdings and government on annual basis will have details of all the crypto holdings that people are holding, but to be honest, for individuals atleast it's pretty easy to hide any such holdings from government, for Companies it's impossible because you eventually have to give detail of each and every penny spent.
973  Bitcoin / Bitcoin Discussion / Re: Women's participation into cryptospace - Increased? on: May 08, 2022, 08:14:21 PM
In an article read about the increasing interest among the women's to get into the digital space and educate themselves. This in particular is much about the mom's and not the girls. They find this a place where they can able to invest and leave something to their kids. Most of these mom's were interested in teaching their kids about the developing technology and for that some are learning it. One of the mom mentioned
Quote
My whole point was, I want to educate myself. I lived in Seattle during the dot com bubble and I had no voice or power to do anything.

Quote
The majority of mom investors interviewed by NBC News claimed that they were interested in crypto as a way to “meaningfully change” the financial security of their families

More and More Moms Are Embracing Crypto to Help Their Families Get Richer
I think this obviously will eventually grow, See the problem with women's participation with women is because of their lower participation in the field of technology altogether, if you someday see the percentage of female participation in field of IT it might be around 4-5 times less than that of women. however, after bitcoin has picked up the investment tag, since then many people have become interested in it, they think of it as a place where they can grow their money, and being the homemakers moms obviously are most worried about household investments going into the right place which is why I think Moms are investing into cryptocurrencies now.


974  Bitcoin / Bitcoin Discussion / Re: why we should Buy some Bitcoins on: May 08, 2022, 06:43:54 PM
Bitcoin is currently trading at a good price and now is a good opportunity to enter the world of Bitcoin. If you've not bought bitcoins yet, this might be your best opportunity this year.
Bitcoin is currently trading at $ 34,493 and the bear market is coming to an end. Also, another good thing that will definitely affect the price of bitcoin is halving.
Big investors! One of the main reasons why the price of Bitcoin does not fall much is the presence of large investors. These investors do not allow the Bitcoin price sink lower.
I don't know if this is coming to an end or not, but I know one thing for sure, if you are getting an opportunity to buy BTC at half the price of it's all time high, and that also in when it has fallen so steeply this definitely is a time to buy it, I would suggest you to atleast buy one big chunk here and then wait for the market to react after this, if it goes down buy another chunk to dollar cost average yourself and if it flies from here itself then consider yourself lucky and enjoy the profits that you are making, but yes this is the time when everyone is selling so if you have free capital you definitely should buy at this moment.
975  Economy / Gambling discussion / Re: 🔥 BTC365.com 🔥 IPL Prediction Pool 2022 & Discussion(Participants Only) on: May 08, 2022, 06:27:44 PM
Chennai Super Kings vs Delhi Capital

I put my money for the victory of Delhi today. Since Chennai's captain is now Dhoni. He is an extraordinary captain. He has the ability to take control of the match at any time. Google now shows Chennai's chances of winning 61%. Because they have scored 57 runs in 6 overs and they have not lost any wickets yet. Yet Delhi has an experienced squad. And the players are in good form. Hopefully I won't lose my money today.
Sad for you, that it was more than a thrashing win for CSK today, even though they are out of the tournament, you have to agree their performance has changed 360 degrees after they have made Dhoni their captain once again, Even though it's useless now at least for this season as it's too ambitious for them to qualify for the playoffs. But after matches on this weekend, the league looks pretty obvious now, primarily the fight is left for the 4th spot only for which RCB looks like the top favourites and leaders as well, rest of the teams have to win all three matches and expect RCB or RR to lose all three matches in order to get a chance for the playoffs otherwise NRR would become a deciding factor.
976  Local / India / Re: 30% TAX and 1% TDS applicable dates on: May 08, 2022, 06:21:37 PM
IS 1% TDS on purchasing crypto and transferring to non custodial wallet applicable? or TDS is only applicable when you sell.
Actually, if you go by the law, it states that the buyer will have to deduct a TDS of 1% on the sale proceeds from the cryptos if it exceeds a certain threshold limit, however practically speaking this is really difficult, because not all the buyers here are institutionalized and not all of them hold TAN no which is required to deduct any TDS and deposit it, and no one will get a TAN number merely to buy cryptos after deducting TDS, also if these people do transact without TDS, I doubt the government would ever be able to detect such cases on noncompliances because these transactions would take place without the use of banking systems.
977  Economy / Gambling discussion / Re: 🔥 BTC365.com 🔥 IPL Prediction Pool 2022 & Discussion(Participants Only) on: May 07, 2022, 08:19:45 PM
KKR had a good chance of making this playoff calculation more interesting.

But they are literally surrendering tonight and in no mood of fighting be it ball or bat. 26/4 so hard to see them winning this match.

BTW MI is officially out from this season, they should start their advance preparation for the next season and hope Archer is fully fit.
I don't know about their calculation but I took a great hit today, lost both the points today and lost the marginal lead that I was carrying from last 2 days. I also thought the same that IPL guys would want the calculations to get more interesting so they will definitely make KKR Win  Grin but it happened entirely the opposite. Even for PBKS also it's almost over, it's difficult to win 3 on 3 matches that are left, and from that also one is with LSG table toppers and even DC can give a great fight to them. I think race has now narrowed down to just 4 teams for 2 spots with RR in the most favorable position and the rest of the 3 being equal. The SRH vs RCB match will clear some more clouds from this.
978  Bitcoin / Bitcoin Discussion / Re: Russians collectively hold about $130b in crypto on: May 07, 2022, 08:12:44 PM
The Russian prime minister has claimed that Russians collectively hold more 10 trillion rubles($130b) in cryptocurrencies like bitcoin. Lots of Russians probably bought bitcoin when it seemed like the ruble was going to nosedive due to the expected sanctions at the early phases of the war while some are buying cryptocurrencies to be able to get money out of the country
I really doubt this data point, because this data would only be formed using the bank transactions of Many Russians which have added their money into the exchanges or wallets like coinbase for purchasing bitcoin, it will largely exclude information of those who have held it on a private key wallet and have received the bitcoins from some other method. Because it's impossible for Russian authorities to differentiate which wallets belong to Russians. and to be honest the private key holders must be the ones having the major chunk. As per an estimate done a few months back only 6% of total bitcoins are there on exchanges so calculating it that way $130B might just be 5-10% of the total Iceberg.
979  Economy / Trading Discussion / Re: FTX Question - How to set take-profit before opening position? on: May 07, 2022, 08:07:51 PM
Wondering if this is possible.

Say you got a limit order set, and before this limit order fills, you want to a take profit order. Is this possible?

Say you want to buy bitcoin at $35000, so you set a limit order for $35000 and you want to take profit at $40000. With a stop at $30000.

You would set a buy order at $35000, and a stop market sell order at $30000. However when I try and make a limit sell for $40000 using the reduce only option, I get an error because the long position is not opened yet. I need to open the position first and then I can add the reduce only option for the sell order.

Anyway to add all 3, a limit order, stop order and take profit order before I get my fill ? I am pretty sure its not possible with FTX.

Maybe it possible with the Quant Zone?
It Isn't possible in spot, but it is possible in future BITMEX and I have even done it in Binance as well, basically, first you put a buy limit order on whatever price that you want to buy on let's say 40000, then you put a short position stop-Limit on 42000 but keep its trigger at around 41900, which means if the price goes to around 41900, it will then put a reduce only order at 42000 to sell this position that you might enter, similarly for selling it on a stop loss create a stop limit at around 38000 with a trigger price of 38001, which means this order will get trigger only if prices goes below 38001.You shouldn't find any erorrs in placing these and your purpose is fullfiled too.
980  Economy / Economics / Re: What would happen if Tesla decided to sell its Bitcoin? on: May 07, 2022, 07:46:55 PM
We all know Elon Musk's acquisition of Twitter, but how to finance the deal is still unknown.
The billionaire sold some shares in Tesla and is trying to obtain loans from some banks.

Quote
Tesla chief executive Elon Musk has sold roughly $8.5bn (£6.8bn) worth of shares in the electric car maker, just days after he agreed to buy Twitter. The sale has led to speculation that it will help to finance his planned $44bn buyout of the social media platform.

Source: https://www.bbc.com/news/business-61255092

What would happen if Elon Musk decided to sell his Bitcoin? What will be its economic impact on the price of Bitcoin?
If you want to imagine something wild, why don't you think what if Microstrategy sells it's bitcoin altogether  Grin But anyways, talking about what would happen here, first of all the market would obviously react in a pretty negative manner, Not only because such a huge amount of bitcoin came out in the market for sale, but also because this will create a negative momentum in the market that such a big supporter and so-called holder of bitcoin has decided to sell it, many retailers will sell their bitcoin, but what would eventually happen is whales will look at this time as buy time and they will buy truckloads of bitcoin and then wait for another bull season.
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