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Well the statement is very true! If we keep on listening to public opinion then we would never invest into risky Ventures. Because public opinion will usually be negative for anything new in the market. That's why we always say that fortune favours the Brave! In 2009 whoever had gone against the crowd and invested in Bitcoin, are probably living their best life now.
But being aware about the market and the ability to identify red flags is what we all need to know. Too many scams out there where you can instantly lose all your savings.
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It is not really clear from your picture, which platform you are referring to! Give us the link and we will check. But it is better not to trust any random website on your investment decisions. I would suggest you to go to CMC website to check information about ICO or airdrops, https://coinmarketcap.com/ico-calendar/Hope this helps! Thank you for your reply. Here is the link to the website : https://www.en-hash.com/It doesn't look to be legit to me. But I may be very wrong here. The crypto ecosystem is decentralized and it is impossible to track everything in this ecosystem especially when multiple players are joining this ecosystem every single day. So I won't comment on this website. But try using an industry standard website like CMC to get most updated information about ICOs and other things. There are many ICOs running in the market with an intention to pull out. So do not invest your hard earned money into random things. Choose Bitcoin or ETH with a long term outlook. |
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It is not really clear from your picture, which platform you are referring to! Give us the link and we will check. But it is better not to trust any random website on your investment decisions. I would suggest you to go to CMC website to check information about ICO or airdrops, https://coinmarketcap.com/ico-calendar/Hope this helps! |
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It might be a basic and stupid question. Just want to leave this crypto world.
If I sell A coin and get £10K capital gain. Also, if I sell B coin with £8K loss at the same time. Then, I have 2K capital gain to report in the same financial year? or I should report A profit and B loss separately?
Thanks
It all depends on your local income tax law. In my country I would have to show these transactions separately. The tax will be calculated separately on both transactions. But that's a stupid law we have on cryptos. The general practice should be, the over all capital gain will be calculated based on these two transactions and the tax rate will be calculated based on your cumulative capital gain. Just check with a tax lawyer in your country and you should get a clearer picture. By the way, why do you want to leave crypto market? |
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BRICS organisation X account made a tweet on Friday which reads 'Nigeria will apply to join BRICS in 2024'. Nigeria has been going through a lot of economic challenges which have caused double-digit inflation and the depreciation of the country's currency the Naira. One of the problems of the country is its over-reliance on the dollar for imports. The dollarisation of the Nigerian economy has put pressure on the Naira causing it to lose much value. Joining BRICS might not be the only solution to the economic recovery of the country but it will contribute to its economic recovery. This is because if Nigeria eventually becomes a member of BRICS, the West African country would be trading its major exporting product which is oil in Naira and also paying for exports with its local currency, thereby reducing reliance on the dollar. Nigeria surely needs a Plan B as their Plan A failed miserably. They are also facing a huge amount of internal conflicts due to the resurgence of terrorism group like Boko Haram amongst others. The majority of African country is failing due to the corruption and internal conflicts. Let's hope that joining BRICS will help them to export their products in local currencies thereby reducing the dependency on US Dollar. Nigeria is sitting on a pile of natural resources. It's only due to the internal conflicts and corruption, they are not able to make the right move to monetize them. Joining BRICS might help them slightly to recover. |
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I have known Bitcoin and other currencies since 2014, but I did not move a finger. I did not benefit from anything. I mean, I did not invest anything now. I am serious. I liked this forum a lot. A long time ago, I decided to start investing, even if it was a small amount, in some other currencies. Perhaps it would go up significantly and make profits. Perhaps I would. It is late, but the opportunity is always there. I know that many people suffer from what I suffer from. Many people now talk about Bitcoin, but I preceded them in knowing it by ten years. I want your advice for me. I have high hopes for digital currencies. What do you think?
It's not a crime to not know about cryptocurrencies in 2014 or even today. But it's definitely a serious thing to think about if you haven't invested even after knowing about it and after seeing upward momentum bitcoin has shown since then. I personally had a nice desktop PC back in 2009 which I could have used to mine Bitcoin at that time. But I didn't and that's when I missed a chance of being a millionaire. But I don't regret it and I jumped right back on when it was feasible for me. My only advice is that you need to start investing in Bitcoin and also you need to do dollar cost averaging by investing in various timestamps and dates. That will give you a better buying price. |
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It's normal for people to make plans for retirement and before I got to know about crypto and Bitcoin investment, What was a normal routine for most business men that are self employed around me was to use their period of active service in building fleets of houses they would normally give out on rentals which after they're at the stage of retirement and are off the active service would serve to take care of all there upkeep till they grow old.
From what I've come to see, such investment has lots of disadvantages and limitations due to unforseen circumstances like war and government policies that could make the cite of the buildings inhabitable thereby making the investment unprofitable and sometimes most men at the point of retirements, discovering that they can't get access to all they've invested into become traumatized in the process.
Investing into Bitcoin is good and for the time being, we can actually make a ten year speculation on the fact that it will still remain a valuable and profitable investment but the question here is;
Is it wise and realistic for someone in his early twenties to set up Bitcoin as a retirement plan such that he continues accumulating Bitcoin from this time till he gets to his retirement age?
If I were you, I would keep Bitcoin pension plan as my plan B. Be practical, while Bitcoin can reach up to moon, there's no guarantee to it. It can very well go down in prices. A lot depends on international politics. So you never know what's going to happen in the future. So keep investing for a longer period of time but at the same time have a separate pension fund. You never know what's going to happen. Just don't gamble with your life. |
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Environmental sustainability has been a core issue these days because of the high energy consumption and carbon footprint due to mining activities. There is a need for proper regulation within the blockchain space.
Why do you need regulation into everything? Crypto currency is the only space that is still not fully controlled by the governments. This is the only place where people still can enjoy financial freedom and privacy. Why do you want to bring in regulation into such a space? If the currency system needs to be environmentally friendly, ask your government to stop printing money. Bitcoin is an ecosystem which uses for more less energy than any other traditional financial system. Let it remain that way. |
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You know, there are people that look at certain things and they just conclude that because it's luxurious and expensive, it's not there thing at all. I once had that kind of mindset but with time I have learned that luxury could even make you more productive.
There are environment you will be exposed to and things you will use that will totally revamp your idea on wealth and aid you to work more effectively. As long as the luxurious stuff you're purchasing aids you to become more productive and comfortable, nothing should be too expensive to be bought for your comfort.
I've purchased a Mac laptop that's way expensive than the average laptops I could easily get but because I needed what will work well for the kind of job I do, I had to buy it and I must say that the fulfillment out ways the negative thought of not to purchasing it.
That's one factor that lead me to always go for high quality and luxurious stuff after that moment.
Have you bought something that people feel is rather too expensive and that you could have purchased a lower version of it? What was your inexperience like after that?
Lol! You are considering a MAC laptop as a luxury item! That's odd! My windows gaming laptop is way more expensive than a Macbook. But I believe I am able to put my point forward. What you think is luxury, may not be seen as a luxury to other people. I may not see a Macbook as a luxury item but I definitely see a Hermes handbag as a luxury item. There are people, who doesn't consider a Hermes handbag as a luxury item. What I believe, the game is all about finding the right balance between cost and value for your individual needs and circumstances. If a more expensive item significantly enhances your productivity and satisfaction, then it may well be worth the investment. That becomes a necessity. There's a thin line between what you want and what you need! |
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I would like to know your opinion on the wave of BTC adoption by companies: - Do you think BTC programs will be useful for companies in their efforts to reach users?
- Are you willing to receive rewards in BTC when using future services?
- If you have your own company, are you willing to accept BTC or launch BTC programs?
I won't say just Bitcoin, but overall crypto payment system is good for any business. It allows them to tap a new set of audiences. So I think slowly big corporates will come forward and will allow crypto payment in their platform. But it doesn't really matter everytime what a big corporate thinks. A lot depends on the local legislation as well. There are many countries where crypto is not seen as a legal tender. So it may become challenging for the companies to accept crypto payments in those countries. But I see there's a great amount of positivity around cryptocurrency right now. Usually it happens during any bull run. I just hope this bull run continues and the positivity stays as it is. |
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So I really this digital rupee is going to work like digital wallets. You need to link your bank account put money on to that wallet and use it anywhere. That got me thinking, if I have to link my bank account, then why can't I just use upi? I mean what a difference does it make for the individuals?
Usually any government apps work like shit. If you simply compare BHIM during the initial days of upi with what it is now, you will understand. The UI can become better with time, but not the intention!
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Not really sure how Mike Tyson suddenly agreed to such fighting events!! He is 57 years old while Jake is just 27 years old. Mike Tyson can surely blow some punches but a younger person will be more agile. I think the age will become a big factor in this match and probably it is going to be very hard match for Mike Tyson.
Nonetheless, I am sure both Mike and Jake will make a huge amount of money out of this fight regardless of the result.
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USDT is more of a supporting currency to the cryptocurrency market. It is not an investment asset. The main use of USDT is in transactions and cryptocurrency trades. So it's not surprise to see this huge market cap if you compare the overall crypto market cap.
As long as they are audited by an independent auditor, I think how much USDT coins they release in the market, doesn't really matter! The demand is robust and USDT is actually a very useful hedging tool against falling crypto prices.
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Luck place a role while gambling. Everything else is planning, patience and persistence.
If you are buying Bitcoins when the Bull market is ongoing, then you are kind off gambling. But if you are actively checking the markets and investing whenever the price is below the moving average, it's planning.
Does that mean, there's no risk? Obviously not! But in planning, and investor takes calculated risk which has a higher possibility to give you a good profit.
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In last one week, coins like pepe rose by 400% or more. There were other meme coins like dogecoin and shiba inu also growing fast. Lot of bitcoin users would now feel tempted to move their funds to these meme coins for higher profit. At such, do you think that any meme coin has the capacity to challenge bitcoin dominance ?
Nope! Never! Memecoins are called memecoins for a reason. They have zero utility and usually a kid sitting at their home computer running from the background. That kid is most likely to pull out when the price of that coin reaches a certain level. Bitcoin is the king because of it's global community strength. Unless some other coin can build such network, there's no way it can challenge the dominance of Bitcoin. |
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All stablecoins are anyways centralized. It's just that the issuing companies are not enforcing KYC on their users. But they indeed can start enforcing a strict KYC mandate to its users. But that might become a bottleneck in their usage and many would probably choose to leave stablecoin segment altogether.
But one question still remains - stablecoins can be issued from anywhere in the world. Not sure how the Bank of International settlement is planning to enforce it's regulations onto them.
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. No matter who wins it, it’s Bitcoin that will be on top in the end.
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But it really matters who wins it. If the countries win in this game, it wouldn't really matter to commoners like us whether Bitcoin is at the top or not. Because then we will not be in a position to use it in our favour and the entire system will become centralised. It is definitely not ideal. But countries like United States will continue to play their dirty games. Some Bitcoins they have seized, are from criminals and hackers so those should be fine. But if us is really snatching from the common people, then it's a matter of concern. |
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Bitcoin is the best investment asset if you compare to the traditional investment assets. It has outperformed every single asset classes since it's inception. No doubt about that!
But Bitcoin is only best as an investment, and not as a currency system. If the goal is to invest and only invest, then your crypto portfolio will outperform all other portfolio of yours.
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Does it matter? US still dominates the majority of the international trades. They are still the biggest millitary equipment supplier in the world. They are still ready to attack any country to acquire oil fields. US knows how to maintain the dominance.
So the US dollar is still the leader in the market. They have to still pay for NATO and United Nations. US has been printing astronomical amount of money since COVID. Did it affect their economy to any large extent?
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