You can see from the graph above that Litecoin is most volatile among three in last 6 months. If I consider graph from 2018 then Doge will also become as volatile as Litecoin It is good that you brought up the example of Dogecoin So why can Dogecoin be interesting for the purposes of this thread? Well, it may be not for the currency aspect of it as such (as no one is using doges as a currency, let's be honest here), but for an aspect that still has nothing to do with sheer speculation, and that seems to be quite resonating with the idea presented here. What I mean to say is that Dogecoin is probably in the list of top 10 coins that have most real-life use and application if not just the most used cryptocurrency in this regard (however paradoxical and counterintuitive it may sound) This coin is probably the best coin for gambling, and that is definitely not speculation. The implication is that such use will prop up its value no matter where the whole cryptocurrency market is going, especially when it's going down. Indeed, it is not free from the overwhelming impact that Bitcoin's price dynamic has over all other cryptocurrencies out there, but it still should be less pronounced. And what's more important here, the effect of this impact, or rather lack thereof, can be easily assessed numerically, for example, by using correlation metrics I partially agree with you. When it comes to utility, Dogecoin is surely one of the top 5 coins, no doubt in that. With over 122B supply in circulation and 1 DOGE transaction fees, Dogecoin is heaven for gamblers and to use for micro-payments. Even I am using DOGE as the primary coin in my under-construction gambling site. But it's wrong to assume that Dogecoin is developed enough to be considered free from the impact of Bitcoin. When it comes to trading market, Dogecoin is just another sheep in the herd that moves in the same direction as rest of the sheep going. But there is one significant difference between the Dogecoin's chart and the charts of other altcoins and that is the pattern of ' Horizontal Parallel Channel'. If we ignore the pump of June 2017 then we will notice that the value of DOGE keep floating between the closed bracket. Even when the rest of market was crashing like hell, Dogecoin was able to maintain its minimum value which is around 30 sats. This may imply that real utility of Doge do have some impact on its trading value. Chart:  |
|
|
|
|
How exactly are they integrating fiat currencies? I read the article but things are not clear enough from it.
If they are providing service to buy/sell Bitcoins with fiat then it is ground-breaking announcement because no company dared to open bank accounts in that many countries. I don't even know if that it feasible for Binance. It is almost impossible to follow so many regulations to be honest.
Else, if they are providing e-version of fiat currencies for forex trading, then I don't think that is any good because we already have several other digital forex trading platforms.
|
|
|
|
Chart 1 Overall Outcome: Higher the change in prices, lesser will the use of Bitcoin for payment purpose. Yes, because bitcoin market is a speculator's heaven! However, if you have seen the past trends, you must have noticed that whenever we enter bull's regime, the number of transactions increase. Because speculators rush to book their profit rather than using it as a payment for goods and services! I specifically cleared in the topic that I am talking about the transactions done for payment purposes i.e. where Bitcoin is used to pay for goods and services. Else, it is natural that the number of general transactions always increase with the increase in price. So is the fees. Overall Outcome: If the future expected price of Bitcoin is higher, lower will be the use of Bitcoin for payment purpose. On the contrary, lower the future expected price, higher will be the use of Bitcoin for payment purpose. Practically resonates the same speculative behavior! If I am optimistic about bitcoin will touch 12k USD next month, why would I spend it to buy groceries? Rather I will hold it for now so that I can fetch the profit in near future! Exactly! Even I am saying the exact same thing in the quoted text.
Overall Outcome: If the future expected price of Bitcoin is higher, lower will be the use of Bitcoin for payment purpose. On the contrary, lower the future expected price, higher will be the use of Bitcoin for payment purpose.
This is why I think an alt like Doge or litecoin will get used for payment purposes. They can both scale because the blocks are found so quickly, and their value is pretty stable in dollar amounts.Say that again! DOGE and LTC are stable! I have a chart for you comparing the percentage change in the value of Bitcoin, Litcoin and Dogecoin. Blue is for Bitcoin Orange is for Litecoin Yellow is for Dogecoin  You can see from the graph above that Litecoin is most volatile among three in last 6 months. If I consider graph from 2018 then Doge will also become as volatile as Litecoin. |
|
|
|
Yeah, international breaks isn't the most exciting time of year. But in upcoming days decisive matches for spots in Euro 2020 will be played, so we can expect something interesting.
There is one very special match to be played during this international break. Brazil vs Argentina. The old rivalry is once again going to ignite. Last time these teams faced each other, it was Copa America match and Messi blamed refs and authority for partiality. But this time match is to be hosted in Saudi Arabia so it will be fair-fight. Also, both teams called their best players for the match, only Neymar is missing. It is going to be really interesting match. Will bet on that The Netherlands win both matches. Too bad Depay can't play so it would be harder then the last matches.
If you remember correctly then Depay didn't play in last match too. But Netherlands won that one easily. Although the scoreline was just 2-1 but I watched that game and Netherlands played brilliantly (especially the midfield) and had 5-6 very good chances. Arguably, Dutch have the best midfield among all FIFA nations with two of the best defenders of current generation. I don't think it would be difficult for them to beat Northern Ireland and Estonia. |
|
|
|
RBI never issued any ban on crypyo related transaction it just ordered it's banking system to close any transactions with crypto exchanges. .
Then why individual bank accounts gets freezed when they find their account related to crypto purchasing? Most importantly people who trades on localbitcoin will face this issue when they receive a transaction with a remark related to cryptos or bitcoins. See every bank in India on its own discretion can freeze any account or block any transaction that bank considers as suspicious. It doesn't necessarily have to be prohibited by RBI. Let me give you an example, around 5 years ago I received $2 micro-payment from some source on my PayPal account. I had linked my Central Bank of India account with my PayPal and requested withdrawal to the same. However, my bank blocked the transaction on the ground of suspicion. Then PayPal sent me the Demand Draft of ₹80 all the way from US.  After the incident above, I opened new account in HDFC Bank and linked that to PayPal. Till date, I never faced the same problem again and HDFC whole-heartily accepted all my foreign remittances to date. So the actual problem is with the banks that the crypto traders using for trading purpose. Public sector banks are usually conservative towards risks associated with crypto transactions. I would recommend using HDFC, ICICI, Axis or Yes Bank for the above said purpose and you will never face the issue of account freezing ever. |
|
|
|
~~
In my country India, there is no special provision regarding taxation on bitcoin. It's taxed based on the source of how you have earned bitcoins. If you are earning it as a remittance on account of your business then you are eligible to claim expenses done in this regards and file it under Profits from gains of Business and considering that you are and Individual you will be taxed at Individual slab rates which are: | 0-250000 | NIL | | 250000-500000 | 5% | | 500000-1000000 | 20% | | 1000000 above | 30% |
Note: The rates you stated above are for the financial year 2018-19. As from 2019-20 onwards, second tax slab i.e. 250000-500000 is exempted too. Hence you don't have to pay taxes if your income is less than 500K INR. Also if anyone wondering in which denomination he wrote the value then it is INR. 1 USD = 71.5 INR so you can make your maths accordingly.
In india we cant do any bank transactions in cryptocurrencies it is completely banned so we cant pay tax to government
Either you don't have slightest of the idea how taxation in India works or you have been guided wrongly. First thing, taxation supersedes criminal law. This means no matter your income is earned from ethical source or unethical, income tax department view all of it as same and tax accordingly. Secondly, doing bank transactions involving cryptocurrencies are not banned in India. The only thing that is actually banned in India is doing exchange business. So no one can provide intermediary services for buying/selling in BTC/INR pair. But you can always use P2P networks and no one will question you. Now coming to taxation of Bitcoin. You have to pay taxes. If you are not paying taxes, you are jeopardizing your situation and may land in problems soon. If you looking for how to pay taxes on Bitcoin incomes in India, here are two threads which explain it in details: https://bitcointalk.org/index.php?topic=5145589.0https://bitcointalk.org/index.php?topic=5142949.0 |
|
|
|
I consider Bitcoin to be hyper-deflationary currently, and I believe that state will come to an end eventually. Once a saturation point is reached and the price levels out over the long term, people who were previously saving will start spending.
That's true! The thing is Bitcoin's supply is currently hold by very less number of people, making it highly volatile. As soon as we will reach a point where supply is distributed among much more holders, prices will get stabilize with the daily fluctuation of just 0.05-0.1% and Bitcoin can be more widely used as currency. However, I fear that the large number of transactions but the limited block size may act as constraint at that point.
Yup, economics support this. Generally speaking, inflation spurs spending while deflation discourages it. This is also why fiat is inflationary by design.
This might be a tough pill to swallow to some people, especially those who believe that Bitcoin will one day destroy banks and replace fiat, but at the end of the day most people are only really going to use it where it's most convienient; cross-border payments, online transfers, etc. It doesn't necessarily have to be a bad thing though, because anyone can still use it for what they want to use it for.
True that! Bitcoin was never visioned to be used as mainstream currency. It was designed as an alternative to mainstream currency with the additional features like privacy. Here's what Satoshi have to say about it: The current system where every user is a network node is not the intended configuration for large scale. That would be like every Usenet user runs their own NNTP server. The design supports letting users just be users. The more burden it is to run a node, the fewer nodes there will be. Those few nodes will be big server farms. The rest will be client nodes that only do transactions and don't generate. Besides, 10 minutes is too long to verify that payment is good. It needs to be as fast as swiping a credit card is today.
See the snack machine thread, I outline how a payment processor could verify payments well enough, actually really well (much lower fraud rate than credit cards), in something like 10 seconds or less. If you don't believe me or don't get it, I don't have time to try to convince you, sorry. http://bitcointalk.org/index.php?topic=423.msg3819#msg3819 |
|
|
|
~~
We do see your withdrawal fully confirmed in your bitcoin wallet. For privacy concerns we will not post the transaction ID here, but you can confirm that for us so we know that everything is taken care of. I do confirm that I have received withdrawal. Thanks. |
|
|
|
You're saying that community expects some price changes, but that's a very bold assumption. In the long run everyone here expects Bitcoin to grow, in the short term no one knows and doesn't care much. You're also forgetting that whenever people buy stuff with Bitcoin, they can immediately buyback the coins with fiat. There can be situations when this is optimal, for example to avoid large fees on fiat transactions.
Since TP has very well explained the second part of your question in the post above this, I will concentrate on the first part of your question. Not everyone is HODLer and intent to hold Bitcoin forever. Try asking people and you will find that around 20-30% traders are only doing day-trading. Most of the people like me keep buying and selling Bitcoins according to change in the market price. I sometimes use Bitcoin to renew hosting or buy domains etc. Namecheap is one popular provider that accept crypto payments. Hence from my own experience I can tell you that when I expect Bitcoin prices to remain constant or fall in near future, I don't hesitate to spend it for utilities and assume it as cash equivalent. But when the prices are rising and are expected to rise further, I restrict myself from spending and instead accumulate it. |
|
|
|
I withdrew from my Playbetr Account yesterday but even after a day I couldn't see withdrawal being processed so I contacted the support. Although support executive was supportive and helped me thoroughly with my problem but this very conversation (photo below) surprised me a little.  Your support executive said that I have to manually send message to CS agent every time I make withdrawal request. During the time when every gambling site is processing withdrawal almost instantly, how competitive do you think this is? PS: Support staff in the end of the chat told me that my withdrawal is now processed however I still can't see btc in my wallet. |
|
|
|
Nothing has 0 risk. We consider bank rate to be risk free which is also not 100% risk free as hyperinflation and bad economic condition can ruin your investment. When it comes to investment, knowledge and how well your investment is hedged is important. You need to be well versed with the economic condition of the country as well as the world. Gold and Bitcoin can be a safe heaven in case domestic currency performs bad. But they themselves are dependent upon many factors which need to be kept in mind in case of diversification.
But ain't both of them common to every investment? If inflation is prevailing in the country, it is going to impact returns on all kind of investments. Suppose gold has given me 11%, to reach real percentage of return, I have to deduct inflation rate from 11%. Bank rate is no different. But the good thing about Bank rate is we can ascertain fixed return before hand. So only factor we have to speculate is inflation rate or Present Value of future return. I have my total net worth divided into 3 parts - one in cryptos, one in market securities like share and mutual funds and third in banking channels. If I consider the return in last 3 years, banking channels have given me the best return. Before choosing the type of bank deposit, first step is to ascertain your need from deposit. For example, if your only motive is to counter inflation - you can keep money into saving deposits. In India, I can easily counter inflation plus make good over-the-inflation returns with fixed deposits. |
|
|
|
As promised, I tried to further explain this in the new topic in the form of charts: https://bitcointalk.org/index.php?topic=5200086.new#newGood Job Lr = k(Y*X)
X = |(S-B)/B| I agree with you that you need to find the X factor to measure change. Is this equation with correct results? The absolute value of measuring the difference in value between two values divided by one of the two values is a measure that may lead to false results, although approaching the true value will be closer. Try some charts to compare the willingness to pay in BTC and the price change. As you said, it will be better if I present this in the form of graph. I will make one in next day or two in my free time with more detailed study.
|
|
|
|
One of the biggest on-going debate about Bitcoin is whether it can be used as currency or is it just a sort of investment? On the micro level, Bitcoin can surely be used as a currency. Since it has value, it can easily solve the problem of double-coincidence of wants by becoming the medium of transaction. But when we consider it at macro level, the story doesn't remain the same. There are several factors come into play when we consider the whole community, the prominent of which is Change in Prices. The main reason why people won't use Bitcoin as currency is because its value (I'm not talking about fiat value but the real value) in the eyes of investors keep changing radically. Hence making sellers hesitant to accept Bitcoin as payment and buyers hesitant to spend Bitcoin for payment. I have created following graph to show the impact of Change in Prices on the people's tendency to spend Bitcoin as payments: CHART #1 Explanation: The above graph assumes that x number of Transactions (for payment purposes) take place when the price of Bitcoin is y. Now two things can happen, either the price of Bitcoin can increase or the price of Bitcoin can decrease. Both cases can impact the normal behavior of holder. In the case of price rise i.e. increase from y to 2y, bitcoin holder will become optimistic that prices will increase further, this will lead to fall in number of transactions where bitcoin is used for payment purposes from x to x/2. Similarly, in case of price fall from y to y/2, holder may postpone his expenditure or may use other form of payments like general fiat currency for expenditure purposes in the hope that prices of Bitcoin will rise again. Therefore, the number of bitcoin-payments will decrease to x/2. Overall Outcome: Higher the change in prices, lesser will the use of Bitcoin for payment purpose.
When we talk about Bitcoin prices, another topic comes to play i.e. Speculation! The above chart clearly shows the impact of current prices on Bitcoin's utility as currency but what about the future price? We all know that Bitcoin community loves to speculate. Hence, the speculation also have considerable impact upon the bitcoin's utility as currency. This brings us to our second graph: CHART #2 Explanation: Unlike the chart #1, future expected price rather have two-ways impact on the number of times Bitcoin is used for payment purposes. Suppose Bitcoin community is expecting the increase in price of bitcoin in coming months. In such case, rather than spending bitcoins for payment purposes, people at large will hold their bitcoins. In other words, if the price increases from y to 2y, the transactions will fall from x to x/2 (it could be anything but I took 50% fall for the sake of simplicity). Vice-versa, in case if people are expecting the fall in the prices of bitcoin, they may rush to spend bitcoins for utilities. This may pump the number of transactions from x to 2x. Overall Outcome: If the future expected price of Bitcoin is higher, lower will be the use of Bitcoin for payment purpose. On the contrary, lower the future expected price, higher will be the use of Bitcoin for payment purpose. |
|
|
|
Has anybody else noticed the 2-1 luck of Liverpool? Liverpool has won 6 out of 15 matches this season with the scoreline of 2-1. Out of these 6 matches, 5 came in Premier League from 11 matches.
I've said it multiple times before but 2-1 is often a good score to go with. It's kind of my lucky score. Yeah, especially for Liverpool. They won games which were almost looking like draw by scoring an additional goal in extra minutes. By the way, anyone expecting upsets this week? I think Southampton can surprise Everton and the game may end up in draw. Other than that, I am kind of sure that Man City will beat Liverpool. Ironically, I am going with 1-2 scoreline for this match. |
|
|
|
There's a few people who look like they've forgotten about the game tonight.
Shush!  Don't wake up them. At least this way, I could rank up in the table.
I really wouldn't back Watford, especially away. I think it will either be a bore draw or Norwich will narrowly win. Don't forget they beat City at home a month or so ago and Watford haven't even won a single game yet and I don't think this one is going to be it.
Surprisingly odds are less for Watford on almost every site. I guess this one will most probably end in draw or Watford will win by 2-1. I am going with the letter. |
|
|
|
In the domestic league, Galatasaray is strong, but to face Real Madrid in CL, there is nothing, we know that Real Madrid was the CL champion last year, but I am sure that next week he will be able to beat PSG.
Real Madrid didn't win CL last year. They were defeated in Round of 16 by Ajax. Real Madrid is shit team. Rodrygo emerged as a new hope for Real but I don't think this will last for long and Real Madrid at most gonna make to QuarterFinals this year. |
|
|
|
|
Has anybody else noticed the 2-1 luck of Liverpool? Liverpool has won 6 out of 15 matches this season with the scoreline of 2-1. Out of these 6 matches, 5 came in Premier League from 11 matches. Will Liverpool get the same fate against Man City? Or will Liverpool face its first defeat in PL?
Good thing for Liverpool is that Ederson most probably won't play in this clash and Bravo not looking in right shape.
|
|
|
|
I've made some posts on 5/11/ but it is still not credited to my yobit panel. Any reason why this happened? Should I wait for more time or continue with the posting?
Pro-Signature Campaign Participant Statement! You shouldn't manipulate your posting habits based on whether you getting paid for posting or not. Just because you aren't getting paid, you will drop to 0 posts per day from 20? Always keep in mind, wearing signature is privilege you get based on how good you write. It in no-sense means a job of posting X number of posts everyday. Posting is primary, getting paid for posts is secondary. |
|
|
|
I draw using Pastel, these 3 powerful Men, if they regulate the use of Bitcoin in their countries, I wonder what would be the price of Bitcoin Next year? This is My final Entry, Happy 10 Years Anniversary Everyone!!  BTC Address: 3BC4f1ar7QpbuydoFT86QcuU1UtcyoUUe5 Ain't Trump has Orange hair? Joke aside, nice artwork. |
|
|
|
|
Show Posts
