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1  Local / India / Millennial and Cryptocurrency on: August 23, 2020, 03:28:13 PM
"Millennial are facing shortfall compared to other generations when it comes to pay check. According to a study, a millennial earns 20% less compared to what baby boomer did at same point of life, in spite of higher education background." (as per the article "millennial earns 20% less than boomers" from CNBC)

Millennial see saving and wealth generation different from their parents and their ways to create wealth has also evolved. Increase in desires, education debt, impulsive buying nature, inflation and other factors have led to many sources of generating passive income. Having a side gig, investing in instruments, gambling and trading have been few ways to generate a passive income and make the ends meet. Millennial face the most uncertain economic future of perhaps any generation since the great depression.

I carried out a survey to understand Indian millennialí perception of trading in cryptocurrencies and their will to learn more about it.

The sample size was 124. The respondents are both students and working professionals between the ages of 20 to 30 years old. While the majority of them are post graduates, no one is below a graduate level.  Out of 124 responses, approx. 60% are males and rest are females.

Following are the info-graphics


Out of total respondents, only 8% trade in crypto and out of the rest, 15 % donít trade or invest.
When asked about obstacles in buying or trading in crypto, almost 50% of respondents fall to reasons like

  • Ambiguous legal status
  • High volatility
  • No idea of trading/buying platforms

Others reasons to not be able to buy or trade crypto were absence of capital, high ticket size and no interest in crypto.

Also, when asked will they be eager to buy or trade in crypto in future, almost 75 % responded with yes while 50 % of total were eager to learn more through forums and social media.  Almost 12 % were not interested to know or do anything in regards to crypto.

Conclusion:

There is a lack of cryptocurrency knowledge among Indians. It is not that mainstream. People are not even clear about the legal status of cryptocurrencies in India which is one of the main hindrances when it comes to acceptance of cryptocurrencies in India. People are not aware of trading platforms and thus, they don't know from where to even start investing or trading. Although, high volatility is one of the hindrances but still people are welcoming towards learning more about cryptocurrencies and want to invest in future. So there is this rising interest in regards to cryptocurrencies.

We need more social media presence of cryptocurrency related pages in India to make cryptocurrency knowledge more accessible to people.


2  Other / Beginners & Help / Why you're asked to move your mouse randomly while creating a new wallet? on: August 18, 2020, 05:26:00 PM
Have you ever wondered why you are asked to move your mouse randomly on the screen while creating a new wallet?
What purpose does it solve?

So your wallet is nothing but a digital database that stores your digital keys.

These digital keys include
  • Private Key
  • Public Key

The public key is hashed to create a Bitcoin address, which is used to receive bitcoin. While the private key is like a pin needed to spend the bitcoin received. The public key is generated from the private key through Elliptic Curve multiplication (There are a few articles related to this on this forum which you can read to understand it better). But this is irreversible, which means you can not generate a private key from the Public Key.

Then how the private key is generated?
A private key is just a number that is picked at random. It is similar to choosing a number from 1 to 2256.

But who chooses this number?
It is usually done by bitcoin software through the underlying operating system, which uses a random number generator to generate 256 bits of entropy.

Then where does wiggling the mouse come?
Sometimes, the OS uses random number generator along with some other source of entropy like mouse movements to add a human source of randomness , which is why you're asked to wiggle your mouse to generate that added randomness.

3  Alternate cryptocurrencies / Altcoin Discussion / Can anyone tell me the reason behind PundiX's pump? (NPXS) on: April 18, 2018, 05:40:08 PM
While browsing coingecko today, I found out that the price of NPXS has increased by over 440% in last 7 days. Does anyone know why this coin is being pumped so exorbitantly? Is there some major news that I am missing? Also, since the price is increasing, is it a good short term investment right now?

Current Price - https://www.coingecko.com/en/price_charts/pundi-x/usd
4  Alternate cryptocurrencies / Altcoin Discussion / ETH, LTC, DASH, XRP -why all so high on: December 14, 2017, 05:23:50 AM
While Bitcoin is being stable around $16500 all the other top coins like ETH, DASH, LTC, XRP, BCH, XMR are skyrocketing within a short time.
Does this mean that investors are moving towards the large cap coins ? Which coin have you invested in ?
I had an eye on Ethereum and it has reached $750 while DASH has conquered the $950 . Will both DASH and ETH cross $1000 within this year ?
XRP has crosed $0.5 , will it hit the $1 within this year ? Drop your comments below.
5  Local / Marketplace (India) / Zebpay: weird difference between Buy and Sell rates on: May 29, 2017, 06:37:29 PM
I haven't used OTC service like Zebpay much but have been tracking the prices on Zebpay for the past couple of days.

There seems to be no logic in the spread (difference between buy and sell price)

Their Buy prices seem to be linked to the Coindesk BPI www.coindesk.com/price with a considerable markup.

Can someone explain how the Sell prices or spread is managed on Zebpay

Below are the two graphs displaying buy and sell rates for the past 12 hrs.

Buy rate goes North and South, Sell rate remains almost constant

Buy rate remain constant, Sell rate goes South.


6  Local / Marketplace (India) / [WTS] INR via PayTM on: December 02, 2016, 07:04:08 AM
I have 2677 INR in PayTM

Can also pay via Freecharge, Mobikwik, etc.

make offer in BTC via PM

Please make reasonable offers with rates between preev and Indian exchanges
7  Local / Marketplace (India) / Will buy BTC at Preev rates. INR payments sent through PayTM, IMPS, etc. on: November 16, 2016, 04:20:27 PM
Will buy BTC at http://preev.com/btc/inr rates.
INR payments will be sent through PayTM, IMPS, etc.

Those suggesting Coinsecure, Zebpay etc. Their rates are not at par with international rates (BTC to USD)

Escrow suggestions welcome.
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