Even though I support whenever any government thinks of progressive tech but I don't really get this Idea. Why is AI needed for Conversational payments? There is no brain needed for Conversational payments. You just say you want to pay 500 INR to anyone it should automatically pay it just like any other audio device like Alexa. Moreover isn't it dangerous? Yes AI might use voice recognition system to avoid that hacking but AI Can easily be used to even replicate someone's voice. So I don't really understand the point of this innovation?
I did some thinking after your reply and found out that this technology would be highly useful for those who are struggling to use UPI. Most old age person are not that proficient with the new technology. Inmean the age group of 55 & above. They are good with WhatsApp and Facebook but fear using UPI as they might do something wrong and lose their money. For them this feature would be very helpful. Another aspect that I think the government would add in the future is voice based biometric technology with the AI. That will enhance the security of transaction being done. As I said earlier this feature won't be helpful for everyone and I know feel it is being added to help a specific age group. At the same time, there are equal chances of getting scammed. Just imagine how good malicious AI can be when these voices are recorded and then AI generates your voice to make payments to hackers. Just see how generative AI is creating images of people and I assume the same can be done with voice and so I think AI should not be used for payments at all costs. It's a terrible idea to use AI for payments. Agreed AI technology can become an issue in this matter. Not only in India but in other countries globally there isn't any law or regulation for AI. While the world was thinking about crypto regulation, the dominance of AI can become much worst for governments globally. At the moment there is only one state in the US that has said AI based art won't fall under the copyright law. |
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Hello and Welcome!
I did visit your platform just now looks good and easy to explore. I would recommend you guys to explore a few marketing campaigns for the forum users such as a Review Campaign and Signature Campaign. A review campaign would help forum members to explore and use your platform. With a signature campaign you can maket your platform here. Bonus offer exclusively for the forum members would be great to start with.
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I am sorry to say but Indians can't resist greed. They know it is risky and still, they fall for offers that offer more than the market. The community still doesn't understand how cryptocurrency taxes are calculated. I have read so many comments on various Indian telegram channels that they won't pay a 30 percent tax on crypto earnings.
Whereas tax is not on earnings but it is on gains through the earnings. If they get their head right I don't think they will as the young generation lack reading skills. If they read and understand it they would stop using P2P and start using local exchanges. From 2017 to 2021 everyone who was into crypto in India earned a handsome amount of money. Now when they are being asked to pay tax only on their gains most of them are ignoring. When the Indian government comes up with regulation, the most affected exchanges would be those that encourage P2P and non-KYC services.
I don't think people try to avoid the tax are falling for this kind of scams because the amount they are selling is like 3K to 10K INR but definitely greed blindside them that is why their common sense doesn't kick why someone is paying too much money more than the worth of the asset without a catch. Still, 30% capital gains tax and 1% TDS is too much, so certainly it will push the users to find a way to avoid the tax which mostly end up in traps like these scams. I do agree the highest tax slab and 1% TDS are killing those who are into trading. They use International exchanges to save themselves from Incometax and fall in the trap of scammers. That is why it is being recommended to not use International P2P exchanges for the time being. If still they want to use it then no one can help them. |
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I was aware that Polygon founders are Indian but it is not an Indian startup. Indian government minister Rajeev Chandrasekhar claimed in an interview that they are trying their level best to reverse the brain drain issue. I am optimistic that the way this government is working in different sectors it will take some time. We might see some development in the crypto and blockchain hub after regulation are rolled out. At the moment the government is giving more preference to those companies or startups that are working on development projects within the Blockchain technology.
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I only follow Kashif Raza as he has build an incredible trust among the Indian crypto community from the day when RBI had placed a blanket ban. I used to follow cryptokanoon on Twitter at that time and then later subscribed to his YouTube channel. I have never seen him promoting any project as he is only into Bitcoin. In recent times on his new channel he has been organizing live chat to discuss about Web3. As it doesn't interest me I generally avoid those shows. I still watch his exclusive content as it is only about Bitcoin and it's future.
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I have only played on stake.com and I won't shy away by saying they are the front runner in crypto casino industry. All others are following them. You would find any games that they launch on the other casinos too. They are the most trusted casinos in the crypto space and have been marketing their casino very well on the forum.
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Another newbie coming with an interesting way to introduce a animal fight betting platform. Not only he is trying to convince everyone that they don't know anything about sports betting, now he started using profanity when questioned about the authenticity of himself and the use of PayPal on that moronic platform. If what he said is so legit then why on earth he is not sharing the platform link and asking everyone to contact on Facebook. Stay away from this guy.
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Round 2 Payments have been sent out!
Thank you all for these past 2 weeks, it's been a pleasure to work with you all! The Bitget team has informed me that we'll put the campaign on hold for now while they'll look at other things to do. It may come back in a different shape in the future but as it stands right now it can be considered FIN. Thank you all once again, you can now remove your Signatures and Avatars. Thanks, Hhampuz and Bitget team for this fantastic opportunity. I hope to see you guys again with a new campaign. |
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For me dice and crash are the games that I often play. The returns are not that high but these two games always give me an adrenaline rush. I am not someone who gambles everyday but once a week I would find time to spend some of my money on these two games. I haven't tried slots but on certain occasions I have played mines, did not find it as tempting as those two.
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Overall you need to have a good budget for marketing within the forum if you want to compete with other centralized crypto casino. Most crypto casinos operating presently looks a copy of stake.com, you would need to offer different platform design and unique games. Do not forget adding a sports book on your platform as many here love betting on sports. Do look into eSports category as it is getting good hype and might become a favourite destination for sports betters.
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I am not sure the Indian crypto community is big enough to make a difference in the results of election but if they make some relaxation which will bring some spotlight for them cause media and economic experts are going to debate about it which is still a popularity for the party which will surely helpful to make difference in their results.
The last I checked the Indian crypto community was 15 percent of the Indian population as of last year. I won't be sure for the current year but even with 5 percent of Indian population they could make a significant difference to the election results. This time the ruling party would face issue if the think they will sweep the poll like last time. That is why I feel they would come up with regulation and more clarity to tax system before the upcoming elections. |
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I have seen such kind of topics coming up whenever there is big dip on Bitcoin price. You won't see such topics when Bitcoin creates an ATH  . The irony here is that people become so ignorant & dumb that they forget the cycle of the market, which is when price goes up it will also go down. With Bitcoin it is hard to predict the price point as in none of us can tell when will Bitcoin go up and upto what price point and vice a versa. Rather asking such question on the forum people can do a simple search on Google to get answers. |
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I think once the global laws on crypto set in the tax rules will automatically get a bit relaxed. Because once if there are some global rules governments will start taking this as an opportunity instead of threat. Once that happens you'll see government taking a welcoming approach by reducing taxes etc. On bitcoin. India definitely will not keep the flat 30% taxes for very long.
I doubt there would a huge impact on tax as I feel that after regulation the government might relate crypto with share market. If there is a reduction on tax then it will be welcomed by the community. If the ruling party wants to sweep the election next year then they would announce some relief in the winter session of parliament. If not then they would see a dip in their voter base in the next election. |
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If they play at an offshore casino, the temptation will be even greater because apart from drinking alcohol, they will also be accompanied by sexy girls who will tempt them to keep playing. It's possible that the girls were part of the casino and were deliberately asked to accompany the gamblers so that the gamblers would spend their money to gamble. We must be able to control ourselves well and be able to say that we have had enough of gambling and now we are having fun with other things I haven't been into a physical casino or an offshore casino, so I won't be able to suggest anything here. I did imagine the scenario and I would say it is hard to control yourself in such a situation. After all you are a man and not a saint, who is able to control his urges. This might be the typical reason why gamblers love gambling in a physical casino than an online one. With online casino you can have alcohol but you won't be able to have those ladies encouraging you to gamble |
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There two scenarios that I can relate with you is the first one , gambling late in the night while feeling sleepy and the second one is chasing the loss. I guess these two are common scenario among all gamblers. I also think gambling late in the night doesn't turns well for me, not sure if others agree with me. The only problem is that late night is the time when I am free and no one is bothering me. The level of concentration at that time is poor and recently I have been trying to avoid that time. Trying to find another time throughout the day when I can sit and enjoy for an hour or so.
The other scenarios that you listed are not of a casual gambler like me. Therefore cannot relate them with me, for example skipping breakfast is something I can't do.
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Even though I support whenever any government thinks of progressive tech but I don't really get this Idea. Why is AI needed for Conversational payments? There is no brain needed for Conversational payments. You just say you want to pay 500 INR to anyone it should automatically pay it just like any other audio device like Alexa. Moreover isn't it dangerous? Yes AI might use voice recognition system to avoid that hacking but AI Can easily be used to even replicate someone's voice. So I don't really understand the point of this innovation?
I did some thinking after your reply and found out that this technology would be highly useful for those who are struggling to use UPI. Most old age person are not that proficient with the new technology. Inmean the age group of 55 & above. They are good with WhatsApp and Facebook but fear using UPI as they might do something wrong and lose their money. For them this feature would be very helpful. Another aspect that I think the government would add in the future is voice based biometric technology with the AI. That will enhance the security of transaction being done. As I said earlier this feature won't be helpful for everyone and I know feel it is being added to help a specific age group. |
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While building this decentralized casino, you'll encounter some challenge like chosing the best blockchain the casino will be built on and this will limit the participants that'll want to use your exchange because there's a division in the community of which blockchain is the best.
You can also decide to make the casino a multi chain casino that you can connect using all the decentralized smart contracts, I don't know if this is possible yet but this will give you more advantage than using only one blockchain as you won't get the users of the other smart contracts.
Trust is also going to be an issue since nobody knows the founder of the casino and it isn't liences so if you can escrow a backup funds that'll be used to pay your customers if anything was to happen to the casino funds as a result of hack then people can trust your casino.
You've covered all the important stuff about the challenges of making a fully decentralized casino. I want to add a bit more to this. Let's talk about domains and hosting servers. So, while a decentralized casino could, in theory, do its thing entirely on the blockchain using smart contracts and dapps, it still needs a place to put up its website for players to get in and connect their wallets. Now, the issue with hosting and domains is that they're kind of centralized systems. This means they could end up being affected by government rules and regulations, which isn't ideal. Full decentralization is not possible when you are talking about hosting and buying a domain name. OP could go ahead and setup his own server with domain name then again OP would have access to everything which again makes it centralized. What OP said is to create a casino on Web3 platform wherein the user is in control of his funds and not the platform. Decentralization doesn't work everywhere it only works when transaction is done on the blockchain. |
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I don't think the forum is the right place to judge your nephew. Unless more information related to his activities are shared here none of us can judge him. Do remember every addict would always defend themselves by telling lies. If cash is missing from the house then things have gone from bad to worst. Just by talking you cannot judge or conclude whether he is a responsible gambler. My recommendation would be to keep an eye on him and if things look worst then necessary actions should be taken against him.
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This time it is different as India is hosting the G20 summit. India would want to get all 20 countries on the same page and by September we would know what might the regulation look like. We might see the regulation bill getting placed in the winter session of Parliament or after the election next year. One thing is clear crypto ban is not possible that I am certain about it.
Knowing the ruling party and our PM, India wants to be known in the future as an important country in term of getting a decentralized entity regulated. This will be a big win for India's soft power considering China & the US being part of G20. We need to wait patiently for the upcoming announcement.
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Yes, casinos know this, and they design their machines to give you a lot of small wins with lots of sounds and lights, even if you just won a few cents.
Then the moment you lose, all the systems go down and it's quiet, completely the reverse.
Sound and light do play an important part in a casino. The more bright light and the winning sound gives a confidence jolt to the gambler and it encourages to place more bets. These are tricks that have been used for sometimes now. When you lose it is very different it as they keep the sound and graphics bear minimum. That basically means it's okay continue with your next bet. Have you noticed almost all online casinos have dark back and bright color graphics with an easy to understand layout. All are part of enhancing user experience and encouraging longer stay. |
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