This is the most ridiculous tax situations I have seen as $1 could change the whole situation. The confusing part of it is the trading of coins which should be under another type of tax maybe VAT and when there is a final disposal to fiat, Capital Gains Tax can be applied.

Personally, capital gains tax should not be applied exclusively on crypto because of its nature. For buildings and other properties, its pretty straightforward. You build a house for certain amount till completion, you know your costs. The moment you sell, the value is determined and you know your capital gains which tax will be applied. For crypto, its different and cumbersome as the 1btc you have might have been acquired over time at different rate and now that its being sold, which exact cost will be the cost of purchase.

This is far from mere coincidence at all because a surge happening at the same time as the maintenance is something worthy of concern. However, the amount of money that would be involved to make such command such surge is what I am still trying to understand and how all the numerous exchange sites all over the world would just key into the change in price in a matter of minutes leaves so many questions unanswered.

Evidences put forward to me could be interpreted as circumstantial because I don't believe some manipulations of those high level would leave traces such as this to be found easily on the internet which means this too will pass and there is need for everyone to be more careful. Its a high price that result today, tomorrow it could be a huge fall in price.

I have not even seen this article before my earlier comment on the issue with Venezuelan devaluation of its currency by as much as 95% to its crypto currency and some people are heaping blames on the president to have been responsible without recognising the influence of foreign governments in a Nation's economy and bending to their rules will always come at a cost in the home country which mostly leave the country's political class to start exploring some not popular choices imagine imploring citizens to start exchange any foreign currency they own in other to boost the value of the local currency but how far would that and how much effect would that make considering the fact that citizens cannot be forced to consider that option without invading on their rights as guaranteed by the constitution.


It really a bad thing though but I don't see investing in bitcoin as a solution because it still does not remove the fact that Lira goes beyond currency, its their identity and the majority of the people who don't have the means to invest in bitcoin would have to suffer for it. What needs to be done is for everyone to put hands together while the political class be willing to compromise reasonable for the benefit of the masses.

I have not seen any breakthrough invented or discovered that is self sufficient without having a particular disadvantage to want to discourage its use. The same can be said of crypto currency too.

However, it is not enough to make a conclusion based on your findings because your findings are valid that the influence of those factors you have identified are enough to be negative about bitcoin as the same might not remain in the next decade because strictly speaking all of those factors you have identified are being dealt with gradually that the influence is weaning down.

Focusing on the absence of concrete monetary regulations, this would soon become a thing of the past although we might not have central regulatory body but with the continual framework being developed, discussions ongoing,  KYCs implementation etc. several sovereign bodies would be able to monitor the activities of crypto currency. When this is done, all other factors would have been solved 50%.

It's most times not about one man that is trying frantically to pull his country down. Its a function of either the economic status of the country and managers of that country. For a country that is import dependent throwing tantrums to several world power countries or a country that is oil dependent without any back up plan, the crash of oil price below their projected revenue couple with problem with world powers above, there is bound to be a problem. While there is need to apportion blame to the political head, most of the time they are helpless against the forces against them.


Desperate times like they say calls for desperate measures and that is the case of what they are doing as they are trying frantically to stay above waters which is about to drown them the moment public outcry is added to the whatever they are facing currently. The result of this move might be counterproductive but to them, its the best course of action at the moment.

My favorite of all time "Lord of Gamblers". Its a movie that combined drama, crime and gamble all together in one with all its sequel. The interesting thing about it was that, the movie was exclusively about gambling unlike the other ones I have watched that it was just in passing that some scenes will be showed in casinos. It even went to show how deep people take gambling in the underworld and how extreme they could go. Still looking to download the movie and watch again.

Whenever government release a set of rules, its sure to come along with punishment for anyone who flout the judgement as it is the same in every law enacted by government. In tax laws for example there is always the punishment of prison sentence but over here since the beginning of time, I have not seen anyone committed to prison because of that the worse that have ever happened is the payment of fines. In this case, one thing is sure, they cannot stop bitcoin or its use, the onus is then on the users in that part of the world to protect themselves by not unnecessarily exposing themselves to the eyes of the law because when one person is caught, he will be surely made as an example for others.

If I happen to be a computer science student with some good ability to code and versatile in IT, I wouldn't think of any other field to specialise other than blockchain. Blockchain as a course of study or a practical field to explore is still very much in its infant stage with multinationals, schools, research institutions, governments etc are still trying to understand which gives a more thorough advantage to an IT student who not only knows the theoretical potentials of blockchain, but could also bring it to reality.

In the future, the people who can devote their time to this, would become consultant on a large scale being sought after to provide solutions to unending problems. The point is, in the midst of other career choice to make a difference in the next decade, blockchain remains one of them which makes it a good career choice.

I would disagree with the fact that its because of not having excess disposable income is partially responsible as that would be misrepresentation for

1. You don't need to have enough money to invest in bitcoin or crypto currency no matter the little you have, you are very much welcome and with proper trading skills the fund can be turned over positively within a short period of time.

2. People who have excess disposable income does not automatically mean they would be investing because of factors that they are privy to and responsible for their decision making. Several others have even be publicly antagonise. Names like Warren, Bill, top bank CEOs have come to raise their voice against bitcoin.

Any other happening other than this would be suspicious to say the least as this negative effect is expected to rub off on any business that have some stake in the crypto currency market. Any business that post any outrageous returns needs to be further investigated. Generally that is the feel. The market is down and investment in crypto related activities is expected to drop because ROI within a short period is no longer guaranteed.


Its not enough to put the entire blame on this. What really happen was the factors that aid such hype was no longer present but people still kept their expectation that high. There was no significant inflow of fresh funds into the market, fork coins alternatives have been turned to joke, KYCs was pursued aggressively, advertisement platforms to get the words out became unapproachable etc.

I want to believe this should be a wake up call for entrepreneurs running bitcoin ATM services to be more updated concerning their security infrastructure as I hold the view that the compromise is from them and not bitcoin itself or else as it is expected that the ATM is connected to a storage somewhere that owns more than 6750 bitcoins for the hacker to be a beneficiary in which if not for the vulnerability in their own system, then the whole of Coinbase, Xapo or Blockchain.com that holds several amounts of bitcoin would have gone bankrupt by now.

Everyday hackers would always hack in which there is hardly anything anyone can do about it. Preaching, discouraging won't even stop it but the responsibility is service providers to ensure that their security is fool proof.

Two major factors that ensure security are control and accessibility and not necessarily the immutable ability of the data itself because when those two are compromised the immutability can no longer be trusted and that is what makes blockchain more beneficial than databases.

On control, for database, it either needs to be centralised in a location no matter how decentralised the model that is being practiced. For example Google databases might be spread across the world but still will be in a location that could be compromised and control in the hands of those who are in charge. But for blockchain this is eliminated as control is in the hands of several individuals which means control cannot be abused for whatever purpose.

The accessibility is the intriguing part in that you don't need approval of the initiator of the transaction or data to see and verify if its there. Today, for anybody to get the information about your balance they either need your express approval or court warrant to do that but for blockchain, its just to easy and could not be doctored as several people will be performing the check without approval.

Aside the technicalities that surrounds the blockchain which makes it different from bitcoin which a lot of people don't even get to know or understand, blockchain needs crypto currency for awareness and publicity. Today, a lot of people don't get to know about blockchain until they got involved with crypto and the quest for knowledge led to the discovery of what blockchain is really about. The discussion about blockchain today wouldn't have been possible without crypto currency. There are several technological breakthrough happening in several fields today but because there is no attracting factor to laymen, it becomes a technical jargon only understandable to people in that field and that is what crypto makes available to blockchain.

The people in India financial body in charge of regulations are bunch of confused people and its obvious that different parties are pursuing different agenda under the same government of the day which signifies some lack of unified sense of direction.

I don't understand how a government would set up a body to come of with propositions on regulating the activities of government since December for that matter and another agency of the same government is going about to get a court declaration to disallow the same subject matter without recourse to the ongoing process.

At the end of all of this, the receiving end I see are the crypto enthusiast who get scared easily and have decided that the best course of action is for them to sell off what they have without waiting for a definitive statement on crypto currency. The act on impulse and rumors and at the end of the day, they blame others for their woes.

Even though this might not turn out to give the best outcome, its still going to make a statement that telecommunication service providers equally owe us significant duty of care in keeping our assets safe. Today, even in the fiat world, you bank account is linked to your mobile number that which means there should be another level of security that should happen at that point to ensure that when I lost my phone, I don't only lose a gadget but my entire assets.

I have read about people losing money in their bank accounts because they lost their phones and someone else retrieved the sim card without their authorization only to have access to classified information. Its not far that this is case of what is happening here that those people only believes they are doing you a favor by allowing you use their services. I just wished someone sue both the banks and the telecommunication providers in the case of fiat losses and both the telecommunication and the wallet providers in the case of crypto.

The most important challenge of taxation to government is not really the rate to levy but the collection and ways to discourage evasion which in the case of crypto currency in general, I don't see any issue coming up at all because what would happen is that there won't be way to convert to fiat without going through a platform and its that platform that government would mandate to withheld the right amount of tax before getting to the hands of the individual that might be tempted to evade tax payment.

Every government tax laws is always a thought out process that always take into account virtually every level of earners in the society and I believe for a new area which is bitcoin, it won't be different. In the few tax laws I know, most Company income tax ranges from 25% to 40% depending on the country but a deep look at the law it would show that not all companies must pay that huge percentage of tax for example small companies by definition of the law, companies in the first few years of commencing operations,  companies that have consistently made losses etc. The same thing is applicable to personal income taxes, the lower category earners are mostly exempted or allowed to pay the minimum tax as defined by the Act.

What I have noticed about rules is that, its not applicable for everybody. Only some set of people decides to put it in place in other to check the excesses of people below them while they live above it. The only way one might run into problem with the bank is when someone specifically report your account or some huge abnormal fund find its way into your account, there is a problem and that is why there is usually a threshold for different types of account that the bank operates for several individuals and the moment your level is not exceeded, you should be fine.

For me, I don't see anything special in the rules being established now because most of this are equally applicable in the fiat world and for anyone properly abreast with the workings of the banking/financial industry would not be surprised at this but because majority of crypto holders having say 30BTC have not been exposed to carry out the dollar equivalent of such transaction in the banking system. And with all of these procedures put in place, so far humans are the ones managing this, there will always be compromise.

This is the part I found the most amusing. This guy is just too extreme. Open several threads on the same issue and didn't rest until he got his wish to get him negged. But the ironic part is he also did something four years ago that he probably wouldn't thought of and I am sure the reason a new account was opened specifically to tell on him was because of his pull down syndrome by all means attitude which landed him in an irredeemable position.

@suchmoon, although trust is not moderated and you are absolutely right to give such feedback but I think you should review it and @jeremypwr, you are allowing whatever you think you are doing to get the better part of you. If you want to claim medal for running a campaign, then what should @darkstar get for running highest campaign for more than a year without issue or @ThePharmacist who took it upon himself to clean the forum against several attacks, what of LoyceCV that dedicates his time in fighting plagiarism or Lauda, Yahoo and a host of others that have contributed to the forum.

I expect OkEx coin to have notified their customers about the proposed delisting via the emails on their database for the sake of those who won't be on the forum to read and those who believed in their wildest dream they are holding long term for them to turn massive profit and not involved in day to day visit of the platform. The best approach is to liquidate if there is no plan for such coin or move to another platform that is not ready to delist.

I can actually relate with something like this when the exchange I have a coin just came with a notice that they are delisting but the coin would be available for withdrawal only for them to just decide to deactivate withdrawal without even notifying and that's how I lost out that the coin later became a worthwhile investment.

Everything you have called yourself and everyone in the same shoe is just the right thing which needs to be sounded loud, clear and harsh if need be and I am equally tired of seeing several threads talking about price speculation and lamenting about what will happen to price. There was one about how those who invested in crypto currency are currently depressed, another would be asking whether what happen in 2017 can be repeated in 2018 among several ridiculous questions.


On the average, bitcoin price has done significantly well in terms of ROI from an all time period. Even now a visit to blockchain.com with the detailed analysis showed return over 2000+% increase but because we got used to the increment that happen last year, people expect that is how its going to continue seeing threads about how its going to be $30000 in March others were even predicting $100,000 before the end of 2018.

The only set of people that takes the blame for every happenings in the crypto world especially bitcoin price, whether directly or indirectly are the 'whales' beliving to be the wheel behind every action forgetting the all of the mass of people involved in bitcoin all over the world looking for who exactly is the whale? People are even allowed to spend all day on charts reading it. The important thing is not to wyne about it. If you see an opportunity to turn out returns no matter how small, take it. If you see something that will make you depressed then that is your problem don't come to the forum to contaminate the mind of people seeing opportunities in every situation.


And that is the overall good news everyone needs to take as consolation that in situations where you want to get emotional about situation of things as your investment not going the way its being planned, chill, you are not the only one and what you are holding has been proven times without number to stand the test of time.