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this global pandemic is here to stay
cash will carry virus, so bitcoin is the way..
economy is falling down, stocks in red , bitcoin is the way.
people are selling crypto like any other asset. you have to believe, the days of crypto has come..
sell all your stocks and buy bitcoin
use 90 percent of your cash to invest in bitcoin.
sell all your real estate , they will be seized by government for free for building hospitals, just like in china.
so sell everything as fast as you can and buy cypto...
buy supplies and food for atleast 3 months. fill gas in your vehicle.
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Yes the western world from which bitcoin came was so fascinated about its use as a currency , trouble started right there.
Back in the days, people had trouble classifying bitcoin as a commodity or currency, the truth is there is no clear cut idea as to how to classify this s***.
The cultural and ideological painting of bitcoin as decentralized, anonymous and a tool of liberty from the tyranny of the state and the central bank has all done what?
Killed it , yes all you guys killed it, these ideologues are the reason it is killed in India. All of you grossly underestimated the power of the state and central bankers.
India setup a committee 2 years ago and it took them such a long time to come out with the s**** recommendation to put anyone who holds , sells, buys crypto for 10 years jail time. This bill is going to be tabled in winter session of parliament around December 2019. that is hardly 4 months away. Since it is portrayed as a currency it becomes a challenger to the rupee. since it cannot be considered a legal tender it has to be banned. thats how their recommendations goes.
If bitcoin was atleast marketed in a way that it will benefit the central bankers and state then it would have had some chance at survival. India with its 1.4 billion population will be out of this crypto revolution , while the rest of the world be happy with your crypto experiment.
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Across the globe those opposing the crypto revolution, mostly the banks and state have one thing in common. They all claim that "bitcoin is bad but blockchain is good".
Our Modi ji twitter handler, one day was continuously tweeting about latest tech likes of AI and benefits of blockchain. Finance minister Arun jatley ji said the same thing in the budget speech. Now RBI also joined the line and saying the same that they support blockchain and going to develop their own coin..
There is only one truth here: either they have no idea what they are talking about or that they know but are lying to deceive people.
because blockchain cannot exist without a token, because you need a token with value to reward the miners who secure the network. its like shiva and shakthi...one cannot exist without the other.
Therefore why do you want to bring a centralized process to a decentralized process?
Govt and banks already have a system that is far more efficient, scalable to any level with their current centralized banking networks.
Why do they even want to have something like blockchain. Even if they do, how efficient and secure will the blockchian network be?
hence the answer could be that they are all acting to make it appear that they are not tech averse and open to new technology.
After all india being the IT hub of the world would look shame if they ban a new technology and Digital India is a pure fantasy.
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“The government does not recognise cryptocurrency as legal tender or coin and will take all measures to eliminate the use of these cryptoassets in financing illegitimate activities or as part of the payments system,” Jaitley said.
He also said te govt will proactively look into the blockchain technology.( the same blockchian good but bitcoin bad story that politicians around the world say! ignorant people)
Nowhere he said that cryptocurrencies are illegal.. he only said that it is not legal tender, which he has said some time before too.
stupid presstitutes, corrupt media twisting words to create sensationalism so that people click and read the article.
let us have a good discussion on what FM said..
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sad to watch all rajya sabha members take a very negative stance regarding bitcoin and nobody said anything about bitcoin legalized in USA and many other countries
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You wake up one day to read newspaper headlines
" India legalizes bitcoin , follows path of Japan and United States"
India legalizes bitcoin and treats it as a commodity and since it is difficult to prove weather the gains are long term or short term , it will be taxed at 10-15% flat.
Those who trade in cryptos shall have to pay income tax with their as per their respective slabs.
Banks start to offer crypto services, you can just log into netbanking and start to buy bitcoin or other cryptos and sell them for INR. But a disclaimer should be dispayed sating that cryptos are very volatile and risky and hence users should know what they are getting into.
what a great world to live in.
I somehow believe Modiji sarkar will make this dream come true, what is Digital India without digital currency.
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certainly he exchanges which are making a ton of money now, I believe will take to the courts.
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from Jan 2013 to Dec 2013 bitcoin rose more than 5000%
but now from Jan 2017 to Dec 2017 it is just 1100%
so at a 5000% increase from Jan 2017 it is close to 40000$
so this 10000+ is just the small rise that resembles 100$ that happened back in April 2013.
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Bitcoin prices are much higher in India
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what if the draft proposal recommends and government implements a very high tax like 80 to 90 % tax on all your bitcoin returns...
what will be your opinion..
What is the ideal percent which governemnt can impose on bitcoin gains as capital gains?
then people will declare its all income to avoid such a high bitcoin capital gains..
then what will govt do?
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Disclaimer: This post is only on a discussion basis and do not infer anything from this post to real life regarding bitcoin and taxes. please Pay your taxes if you realize any gains from bitcoins.
I have read that Suppose if Alice goes from India to work in Dubai, Quatar or most of foreign nation, the income earned is completely tax free in India.
This happens because you are bringing foreign currency to India and therefore helping the nation by providing foreign reserve.
Now why cant the same apply for bitcoin, if bitcoin is regarded as a currency then you are contributing to the circulation of bitcoin in the nation when you sell them..
So on this basis , can bitcoin also become tax free
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[Note: Do not share info about how much is your bitcoin gains or the amount you have filed as returns, just answer the below]
Did you successfully file IT returns with bitcoin gains , with no letter from the Big brother?
Under what heading did you classify the gains?
is it under Capital gains or Income from other source?
If under capital gains, did you do it under short term or long term?
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3 years ago I was trying to write the sci fi short story called MARS MINER about things happening in the bitcoin mining facility in MARS. https://bitcointalk.org/index.php?topic=668028.msg7574713#msg7574713But the whole blocksize debate has spoiled everything. Clock is ticking for what they called flippening where some altcoin will overtake bitcoin. we are not going to mars, we are going to fall into sea to the bottom. |
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seems some exchanges are interested in ethereum!
just check Ethereum name service and some names are being in auction phase,
hopefully future plans..
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 so finally they have won..the elites , bilderberg, state, rockfellers, rothschilds, lizards, grey aliens, They have put the fate of bitcoin in a small group of hands and thereby destroyed the core value of decentralization with this scaling issue.. Now another altcoin is going to surpass bitcoin. What a failure of monumental proportion https://www.okcoin.com/t-387.html |
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https://www.okcoin.com/t-387.htmlRecently, OKCoin users have taken interest in the development of Ethereum (ETH) and Ethereum Classic (ETC), and there is an increasing demand for OKCoin to enable ETH and ETC trading. For the past two years, we have been constantly reviewing the viability of listing ETH and ETC based on factors including technical maturity, innovation, market liquidity, and compliance. Today, we are formally launching ETH on the OKCoin exchange. Ethereum has a current circulation of 90 million, with ETH reaching a market cap in excess of USD 10 billion, and a total hashrate of more than 25K GB. Hundreds of applications are now built on Ethereum and a growing number of applications are using smart contracts run on the Ethereum blockchain. More than 20 top global financial institutions and technology companies, including JPMorgan Chase, CME Group, BNY Mellon, Thomson Reuters, Microsoft, Intel, and Accenture, have set up the Enterprise Ethereum Alliance (EEA) to define enterprise-grade applications of Ethereum. China's Tencent, Zhong An Insurance and other well-known companies are also investigating various applications of blockchain. The United Nations has just launched its first large-scale Ethereum test to distribute humanitarian funds. Given this opportunity, we implore BTC Core developers and relevant Miners to work together and resolve any outstanding technical issues, activate Segwit, and solve BTC’s scaling issues. Our industry and the history of technology offers us many warnings, whether it’s the IE browser or the Nokia mobile phone. No matter how dominant, how much market share you have, if you do not adopt the latest technology and fail to constantly improve on the core user value proposition, time will pass you by. Ultimately, digital asset exchanges around the world can only advocate for the best technology and aim to provide the best trading experience for our clients. OKCoin will officially enable Ethereum (ETH) deposit and withdrawal services on 22:00, May 31. ETH trading services will be officially available on 12:00, June 1. We pride ourselves on excellent product and quality customer service. We at OKCoin look forward to continuing to provide you with the best trading products and services.
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what is the Indian government going to do?
Ban.
Tax the capital gains and make bitcoin legal
If taxed, then what will be the tax percentage.. will it be 20% or 95%?
will tomorrow be a good day?
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many claim we are in a bubble and all cryptos are overvalued....
If you look last decade same thing happened to traditional world of investing..what about twitter and facebook , many said they are overvalued but yet they did not crash..
they are valued based on what they will be worth in the future
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The narrative built all these years was that bitcoin is immune to government intervention, to the extent that it will one day overthrow the state.. but ha ha ha all it took was one small civil war between a startup called block stream and a bitcoin early adopter and thats all.... its time for the community to save bitcoin to be on the top ever...  |
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