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1  Alternate cryptocurrencies / Altcoin Discussion / Pick ur Altcoin on: October 30, 2018, 07:19:31 PM
With there being around 2,000 cryptocurrencies and tokens on the market today it can be very confusing what to put your money in to.

Diversification is definitely a key element when it comes to any type of investment but at the same token it makes no sense to overstretch yourself either..

I would recommend diversification between 3 to 7 projects depending on your budget.

Here are my top 7 picks these picks are based on a lot of research and criteria.

These have a strong working product, high volume in the market, solid future development plans including partnerships and great marketing behind them along with solid moves towards adoption

These are in no particular order.

1. Bitcoin
2. Etherium
3. Dash
4. XRP
5. Eos
6. Tron
7. digibyte altho it's considerably lower volume than the rest and has not got the strong marketing behind it is a fantastic project lightning fast super decentralized and cheap to use..
2  Local / India / Blockchain Developers may leave India due to Rbi Restrictions on: October 18, 2018, 08:21:25 AM
As compared to other software development, Blockchain technology development is a new field and there are only 0.25 per cent Blockchain developers of 2 Million software developers in India.   

 In general Blockchain developers get token in the form of their contribution to the project but stand of RBI over Cryptocurrency made it tough to convert it into fiat currency, even though P2P method is available to trade Cryptocurrency in India.

 The stand of India over Cryptocurrency is still not clear, one side it bans direct Cryptocurrency trading and the case is pending in Apex court, second side government and RBI forming committee to see opportunity and potential in Blockchain technology.   

 In fact RBI decision to ban direct Cryptocurrency trading is have many downsides, first one is IT section is the little bit struggling to create a new job, even tough Blockchain technology has lots of potentials to create new job but Indian Blockchain developers are helpless and want to migrate Cryptocurrency friendly countries for the job.
3  Local / India / Government sends tax notices to cryptocurrency investors on: January 19, 2018, 05:56:51 PM
NEW DELHI: The government has sent tax notices to tens of thousands of people dealing in cryptocurrency after a nationwide survey showed more than $3.5 billion worth of transactions have been conducted over a 17-month period, the income tax department said.
Tech-savvy young investors, real estate players and jewellers are among those invested in bitcoin and other virtual currencies, tax officials told Reuters after gathering data from nine exchanges in Mumbai, Delhi, Bengaluru and Pune.

Governments around the world are grappling with how to regulate cryptocurrency trading, and policymakers are expected to discuss the matter at a G20 summit in Argentina in March.

The government has issued repeated warnings against digital currency investments, saying these were like "Ponzi schemes" that offer unusually high returns to early investors.

But it has not so far imposed curbs on an industry estimated to be adding 200,000 users in India every month

B.R. Balakrishnan, a director general of investigations at the income tax department in the southern state of Karnataka, said notices were sent following the survey to assess the penetration and patterns of virtual currency trade.

"We cannot turn a blind eye. It would have been disastrous to wait until the final verdict was out on its legality," he told Reuters.
4  Bitcoin / Bitcoin Discussion / Bitcoin crashing & housing bubbles popping Deutsche Bank’s biggest risks in 2018 on: January 07, 2018, 07:03:48 AM
Investors should get ready for potential risks this year, warns Deutsche Bank. With national central banks pursuing active policies pegged to the whole range of internal and external drivers, the geopolitical environment is continually changing with one concern being replaced by others..

Domestic policies carried out by governments across the world commonly have a significant impact on the whole planet, and new phenomena such as a crash in the crypto-market might bring down real companies. That’s why the number of risks worth worrying about is growing, even when the Volatility Index VIX is steadily falling..

Deutsche Bank's chief international economist Torsten Slok has circulated a list of 30 risks for markets in 2018. “They are in random order and are both upside risks and downside risks,” the analyst writes in a note..

“Think of them not only as potential VIX-boosters but also as potential sources of faster or slower growth than what we have in our baseline forecast.”. In the list there’s something for everyone: a bitcoin crash, North Korea test launches ICBMs, the Robert Mueller investigation and an ongoing growth of inequality in the US..
5  Bitcoin / Bitcoin Discussion / Indians Confused Over Crypto Taxation – Exchanges Ask Government to Clarify on: January 06, 2018, 07:15:10 PM
While the tax authority has notified crypto exchanges and wealthy traders that they must pay taxes, no clear guidelines have been provided. Indians are confused about how cryptocurrencies are taxed and seven bitcoin exchanges are asking the regulators for clarification..

The Indian National Tax Service has recently inspected top cryptocurrency exchanges as well as sent out notices to wealthy crypto traders informing them to pay taxes. The Authority for Advance Rulings (AAR) is the country’s adjudicatory body on tax matters..

The India Times reported on Friday that the country’s top seven bitcoin exchanges including Zebpay, Unocoin, Coinsecure, and Btcxindia are planning to ask the AAR for clarification. “At least one bitcoin exchange has already filed an application with the Maharashtra AAR for future tax liability,” the publication quoted sources with direct knowledge of the matter, adding that: “The question for many bitcoin players is whether GST is applicable on the total revenue or on the margins they earn,” explained Abhishek A Rastogi, a partner at Khaitan & Co law firm, noting that: Meanwhile, the country’s “indirect tax department is already looking at ways in which bitcoins can be brought under GST,”  the publication detailed..

Furthermore, the sales tax department and VAT authorities have also launched their own investigation on the taxability of bitcoin. “For the exchanges, the rate could depend on what the authorities deem bitcoins to be — goods, services or currency,” the news outlet elaborated..
6  Bitcoin / Bitcoin Discussion / Global Regulatory Crackdown On Cryptocurrencies Is On The Way on: January 04, 2018, 07:19:09 PM

As global cryptocurrency mania flourishes and new alt-currencies ICO at a relatively rapid pace, it's inevitable that government regulators across the world are beginning to feel the need to take a longer, harder look at what has, up until now, been a fairly unchecked trading environment. As well, financial institutions continue to ponder the best, most lucrative ways in which they too can benefit from what was once a grass roots initiative, but their own internal regulatory departments advise caution until there's more reliable oversight of this particular asset environment.

On the one hand, this is good news since it means governments, central banks and institutional investors are finally getting serious about digital currencies. On the other hand, regulatory initiatives generally mean there's a reason investors may need protection.

Indeed, it's possible that new legislation will soon be introduced in Europe and the UK in order to tackle criminal activity surrounding Bitcoin trading and increase transparency by bringing digital currencies in line with existing legislation on tax evasion, anti-money laundering and counter terrorist financing. Changes could include forcing traders to disclose their identities and requiring cryptocurrency exchanges to do due diligence on customers as well as report suspicious transactions.

Recent regulatory announcements out of South Korea, which reportedly stated that exchange closures are possible, had a strong negative effect on Bitcoin. The news caused the price of BTC to tumble on December 28.

According to Australia's Sydney Morning Herald, crypto investors have been claiming that some of Australia's major banks, including National Australia Bank, ANZ and Westpac were freezing customer accounts and transfers to four different Bitcoin exchanges—CoinJar, CoinSpot, CoinBase and BTC Markets. In response, CoinSpot announced "a temporary restriction on all forms of Australian dollar deposits."
Massive Cryptocurrency Disruption

The International Monetary Fund (IMF) which is headquartered in Washington D.C., is made up of "189 countries working to foster global monetary cooperation [in order to] secure financial stability.” The IMF’s managing director, Christine Lagarde, has acknowledged both the growing popularlity of cryptocurrencies and the current murky situation surrounding their trade. She's cautioned that, "we are about to see massive disruptions" related to this new financial technology. Some crypto enthusiasts believe any attempt to crack down on digital currencies is simply an effort to protect the big banks.

Susan Zhou, COO and co-founder of Qlink, the decentralized telecommunications network, explains that both digital currencies and their individual ecosystems are still in their early, explorational phase:

    “We witnessed the ups and downs in 2017, and we expect 2018 to achieve a rational and healthy development. Regulation is one of the aspects that forms and matures along with the industry, as the usage of crypto currency clarifies, some consensus on regulations will be in place as well.”

Some countries, such as the Republic of Belarus (formerly known by its Russian name Belorussia), favor the adaption of digital currencies and prefer to encourage the development and uptake of the assets within the eastern European country. Belarus recently passed statutes offering significant tax incentives to blockchain and crypto-related businesses.

Zhou's response:

    “Some comparatively restricted regulations in certain jurisdictions are no doubt protecting investors, however at the same time [it's] missed the opportunity to lead the industry growth. As the double side of a sword, pertinent advantages over the next wave of technology evolution slipped away.

    2018 will be the year to line the industry, the best and fittest projects will remain with strong capital and talent support, and at the same time, set examples for compliance best practices.”

Sergei Vasin, COO of Blackmoon Crypto, part of the fintech company Blackmoon Financial Group, explains that cryptocurrency investing doesn’t actually differ much from any other asset class. Crypto investing requires due diligence on both the part of the investor, the offerer and the organizations tasked with oversight. As well, consistency and clearly formulated policies are a necessity. He says:

    “Certainly, investors should keep an eye on regulation and especially taxation. When buying into tokens that seem to be securities, investors should diligently check whether the team behind this token took necessary steps to ensure legal compliance. Of course, diversification is a must. And for those looking to invest in traditional assets via crypto the above-mentioned argument of legal compliance is of a paramount importance. Few teams pay necessary attention to this issue because of its complexity, but this is the effort worth taking."

The most notable announcement thus far regarding digital currencies and ICOs came last July, from the US, when the Securities and Exchange Commission (SEC) moved in on the “Wild West” environment surrounding crypto sales and trade. At that time they cautioned that virtual tokens are subject to Federal securities laws.

Trace Schmeltz, a partner at the Barnes & Thornburg law firm points out that the US's three big financial regulators—the SEC, the Commodity Futures Trading Commission and the Financial Crimes Enforcement Network which is part of the Department of Treasury—staked out their cryptocurrency turf in 2017:

    “In 2018, we can expect each of them to define the parameters of their respective jurisdictions with a larger array of enforcement actions. For cryptocurrency issuers or fund managers, this activity will require time and money dedicated to compliance efforts. In the rest of the world, 2018 will see a strong and continued challenge by many national governments to any non-government backed currencies. Whether because of concerns about fraud or simply to ensure government control of the money citizens use, these wholesale governmental challenges to cryptocurrencies will gain strength.”

During 2017 there were additional countries that also began more closely scrutinizing, or actually acted on, crypto trade and/or regulation including China, Russia and most recently, Israel. Of course, no one really knows what's in store for this asset class in 2018. But as the frenzy of interest and adaption gathers momentum, be aware that regulators could—and likely will—clamp down on digital assets, creating additional volatility for this already mercurial asset class.
Global Regulatory Crackdown On Cryptocurrencies Is On The Way
7  Alternate cryptocurrencies / Altcoin Discussion / Buy Ripple, Tron, NEO or XLM and you could get as rich Suggested By UK Newsageny on: January 04, 2018, 01:14:46 PM
Trading price at the time of writing: $1.27 (£0.94) Released in early 2014, Stellar comes in at number three in terms of percentage growth in 2017. Trading price at the time of writing: About $0.76 (56 pence) Originally launched as XCoin in early 2014, Dash got its name in March 2015..

Trading price at the time of writing: $1,162.84Ethereum (ETH): Unlike Bitcoin, Ethereum’s main aim is to operate ‘smart contacts’, instead of acting as a form of money. Trading price at the time of writing: $250.31 (£184.78) Cardano was founded in 2014 and began trading on Bittrex exchange in October 2017..

Trading price at the time of writing: About $0.99 (73 pence) Born from bitcoin itself, Bitcoin Cash is a segregated version of bitcoin that was released on Aug. 1, 2017. Trading price at the time of writing: $2,748.33 (£2028.84) IOTA was introduced in June 2016 and started trading on Bitfinex in June 2017..

With a market cap of about $11.19 billion, it is the ninth largest cryptocurrency Trading price at the time of writing: $4.03 (£2.97) Trading price at the time of writing: $72.99 (£53.88) This is based on Ethereum and is designed to store data and content so the internet can be decentralised, meaning content is not just simply stored on Facebook, Google or Amazon servers. Trading price at the time of writing: $0.158375.
8  Bitcoin / Bitcoin Discussion / We’ve Come A Long Way – Bitcoin Block Zero Was Born Nine Years Ago Today on: January 03, 2018, 07:30:53 PM
On this day nine years ago, quietly, bitcoin and its blockchain network were birthed with block zero, the Genesis Block. Also read: 2017: The Year of Altcoins, Forks, and Five Digit Bitcoin Prices Pseudonymous Satoshi Nakamoto, perhaps one person, maybe a group, set loose a hinge of human history: the blockchain database and its resultant cryptographic currency, bitcoin..

The first block, block zero, and its fifty bitcoin reward, now worth over 700,000 USD as of this writing, was locked, unable to be transacted, and for all time. MAY 22, 2010 COMMENTER LASZLO CONFIRMS PURCHASE OF A PIZZA FOR 10,000 BITCOIN The Great Recession metastasized from the world’s reserve currency, the United States, to all first world nations, and quickly..

The issue in the first decade of the 21st century was divorcing money and state, getting around governments and their incessant push to monitor and control and inflate. Despite previous attempts at competing currencies to government money, there was always a central point of failure, a place in its distribution or creation where it became exposed, fragile..

Without a patent, no incorporation to limit liability, no billionaire genius bankrolling the project, lacking a visionary CEO spouting words of wisdom, swanky marketing budgets were nonexistent, and exactly no government backing, bitcoin has amassed a quarter trillion in market capitalization. For sure, much of it could be chimera due to, ironically, the very same issue that gave it a reason to exist in the first place: easy government money sloshing about, distorting valuations
9  Local / India / Bitcoin not a legal tender in India, says Finance Minister Arun Jaitley on: January 02, 2018, 12:42:05 PM
    Key Highlights:

        Jaitley said 11 cryptocurrency exchanges have been identified.
        RBI also cautioned against dealings in Bitcoin.
        Value of the Bitcoin crossed $19,000 in December last year.

Finance Minister Arun Jaitley, speaking in Parliament which is currently in session, on Tuesday disproved of the acceptance of Bitcoin as legal currency in India.

Bitcoin is not a legal tender in India, Jaitley said adding to previous disapprovals by the country’s Central bank that have agreed on the same.

Jaitley added that 11 cryptocurrency exchanges have been identified in India and the government will not take knee-jerk decisions on crypto currencies, as per Bloomberg alerts.

The government panel is also awaiting a report on tackling cryptocurrencies in India, Jaitley said.

The Reserve Bank of India (RBI) has also cautioned from time to time about the risks of dealing with Bitcoin.

Bitcoin are a cryptocurrency with a worldwide payment system which is decentralised. This implies that the currency operates separate from the currency of the central bank of any country or a single administrator.

Through its press release dated December 24, 2013 and February 1, 2017 and once again on December 5, 2017, the RBI reiterated caution of dealing with Bitcoin.

“Attention of members of public is drawn to the Press Release issued by the Reserve Bank of India (RBI) on December 24, 2013, cautioning users, holders and traders of Virtual Currencies (VCs) including

Bitcoins regarding the potential economic, financial, operational, legal, customer protection and security related risks associated in dealing with such VCs,” RBI said.

Value of the Bitcoin crossed $19,000 in December last year. As of today, January 2, 2018, the value of the Bitcoin converted to Indian National Rupees by Google is stated as Rs 8,51,073.40.

In reply to a question tabled in Lok Sabha on December 29, Ministry of Finance had this to say about Bitcoin dealings in India. “The Department of Economic Affairs had constituted an Inter-disciplinary committee to examine the existing global regulatory and legal structures governing Bitcoin; to take stock of the present status of Bitcoin both in India and globally; suggest the frame work for regulation of Bitcoin if among others etc. The committee has submitted its report which is under consideration of the Government.”

The risks outlined by RBI in its December 2013 release read as follows:

1. VCs being in digital form are stored in digital/electronic media that are called electronic wallets. Therefore, they are prone to losses arising out of hacking, loss of password, compromise of access credentials, malware attack etc. Since they are not created by or traded through any authorised central registry or agency, the loss of the e-wallet could result in the permanent loss of the VCs held in them.

2. Payments by VCs, such as Bitcoins, take place on a peer-to-peer basis without an authorised central agency which regulates such payments. As such, there is no established framework for recourse to customer problems / disputes / charge backs etc.

3. There is no underlying or backing of any asset for VCs. As such, their value seems to be a matter of speculation. Huge volatility in the value of VCs has been noticed in the recent past. Thus, the users are exposed to potential losses on account of such volatility in value.

4. It is reported that VCs, such as Bitcoins, are being traded on exchange platforms set up in various jurisdictions whose legal status is also unclear. Hence, the traders of VCs on such platforms are exposed to legal as well as financial risks.

5. There have been several media reports of the usage of VCs, including Bitcoins, for illicit and illegal activities in several jurisdictions. The absence of information of counterparties in such peer-to-peer anonymous/ pseudonymous systems could subject the users to unintentional breaches of anti-money laundering and combating the financing of terrorism (AML/CFT) laws.
10  Local / India / Pluto Exchange launches India’s first bitcoin trading app on: December 29, 2017, 01:24:08 PM

At a time when bitcoins are in focus for the wrong reasons, cryptocurrency dealer Pluto Exchange on Thursday announced the launch of India’s first mobile application for transacting in virtual currencies.

At a press conference here, Pluto Exchange founder and Chief Executive Bharat Verma said his company is all set to launch the country’s first app-based wallet that enables bitcoin transactions using a mobile number.

“The Pluto Exchange mobile app offers a solution to the coordination problem between payment processors, financial gateways and banks,” Verma said. “All other apps already in the market do transactions using bitcoin addresses, which are long and prone to error while copying. Pluto Exchange will change this scenario by enabling transactions using mobile numbers only, which are just 10 digits,” he said.

By using a four-digit personal identification number (PIN), users can now buy, sell, store and spend bitcoins via a mobile number, Verma added.

Elaborating, he said the app would permit a range of transactions, including payments, remittances, business-to-business commerce, supply chain finance, asset management and trading.
Source -
11  Bitcoin / Bitcoin Discussion / Russia Setting Rules for Cryptocurrency Miners on: December 26, 2017, 05:34:07 PM
At a meeting this week in Russia, cryptocurrency miners from 15 countries will show the country’s parliament how cryptocurrencies are mined and explain how the miners’ home countries regulate mining. According to the chairman of the State Duma financial market committee, Anatoly Aksakov, other draft regulations define cryptocurrencies as “other property” for tax purposes and ICOs as crowdfunding with a limit on the amount one person is allowed to invest..

The activity follows orders from Russian President Vladimir Putin, who in October told officials that he wants regulation of digital currencies, ICOs and cryptocurrency mining. The United States and China currently account for about 75% of all the world’s cryptocurrency mining, but Russian cities from St. Petersburg to Kaliningrad also host large mining farms..

As the price of (especially) bitcoin and most other cryptocurrencies rose, massive mining farms with thousands of computing devices have sprung up to speed along the process of earning digital currency by tracing a transaction through the blockchain. Because Russia is pursuing a strategy to regulate cryptocurrencies in its own country, wondering how that structure would play in the world is worth some thought..

Russia is also considering offering its own cryptocurrency, tentatively called the cryptoruble and backed by the country’s energy reserves. There are reports that Russia is also talking with Venezuela about the South American country’s plan to issue its own cryptocurrency (the petro), also based on the country’s energy assets..
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