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1341  Economy / Gambling discussion / Re: UEFA Champions League 2018-2019 on: May 17, 2019, 06:09:40 PM
It sucks that we have to wait two more weeks. I really want to watch this game right away, why is it so late? Has it always been this much late between semi finals and finals? I haven't checked the previous years but it feels like the semi finals and finals were closer back in the day, did it get longer and longer between those games?

Matches of this stature are usually conducted on the Weekends. With domestic league is still going in Spain and Copa Del Rey final pending, UEFA thought if won't be a good idea to conduct finals during 25-26th May so it was dragged by another week. But the funny thing is, no Spanish team will play finals, lol.

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Liverpool has been working real hard and this has been a great redemption arc for them, they were so good last year and they were about to win it until salah got injured and they lost very badly, they have been waiting for this chance for a whole year and I am sure even though football is a game of luck Liverpool will be playing their hearts out in this game and show that 4-0 courage once again, they want this so badly and they should get it.

I don't know why but I am getting vibes that Liverpool will end another season with no trophy. Although Liverpool has been sensational this year and beaten Tottenham twice but after what seeing what Tottenham had done in Semis second leg, I feel nothing is impossible for them. My money is on Spurs!
1342  Alternate cryptocurrencies / Altcoin Discussion / Re: Talk about the opportunities we missed in those years? on: May 17, 2019, 05:26:51 PM
The first currency to buy is the TNB. Because it is a novice, I missed many opportunities to get rich. I want to cry without tears. When TNB is $0.015, my friend asked me to buy it. I didn’t buy it. Later, 0.1453 When I entered the market, when I went up to $0.2906, I still didn't sell it. This time I won't miss it again.

Believe me, this TNB is just another shitcoin. During the pump of Dec17-Jan18, all shitcoins rose very much. Rise of TNB is nothing, coins like COLX rose 11000%!!
But the situation is clear now. The good time has gone. TNB is now struggling around half a cent, so does every other shitcoin. Crypto Maket is more mature now so even if pump like Dec 17 comes, only big cap coins will rise and these shitcoins won't move more than 2x.
1343  Economy / Gambling discussion / Re: Pakistan tour of England, 2019 (Cricket Series) on: May 17, 2019, 04:50:50 PM
'Pakistan tour of England', another series defeat coming for Pakistan. First New Zeland then Australia and South Africa and now England. Pakistan has made 340 runs today, I think England will comfortably get that and win series today.  With all these defeats, it is hard to believe Pakistan has any claim for winning World Cup.
But there is one good thing from this series for sure. With all match ending in runs around 350-400 for both side, we can expect that World Cup this year will be very high scoring. Can we see first 500? I think we can!
1344  Bitcoin / Bitcoin Discussion / Re: Transaction fee has gone up by 10x during the last two weeks on: May 17, 2019, 02:47:00 PM
I am trying to send $100 from my wallet into the other bitcoin wallet address, and I see in my mycelium, I need to pay the fee for about $2-$4.
If I use Normal transaction which needs 30 minutes, I should pay $1.91 for the lowest fee, and if I use Priority, the fee is about $2.51.
So I tried with the Normal transaction with paying the fee $2,14, and I only need to wait for less than 30 minutes to arrive in the other wallet.
I don't mind to pay that fee because I will sell the bitcoin if the price can increase more than $7,500 and if the price is going down than that price, I will keep it for a while until the price can increase.
That is one of my strategy to cover the fee which is increases Grin

But that's not the core purpose of Bitcoin right?
If I have a hosting business and I charge $4.99 per month as shared hosting fees and add Bitcoin as a payment option, will anyone use it when fees is $2-4?
I don't think fees is ever the issue for traders. The real problem is always for merchants and retailers. Whenever Bitcoin prices increase, demand increases so does the volume and transactions. It further leads to rise in fees. With rising fees, Bitcoin utility as payment mode decreases. Hence with decrease in demand, price falls. This vicious cycle is continuing from last few years. Without solution to this, I don't think we could see anything above $20-25K ever.
1345  Economy / Gambling discussion / Re: Football Transfers Speculation, Odds and Predictions on: May 17, 2019, 11:22:08 AM

I don't know how many more star players need for  Barca.They already have the best player in the world, Dembele, Suarez, Malcom, Vidal, Jordi Alba, Pique, One of the best Goal-keeper M. Neuer and more.But still they got bottled up in UCL.Griezmann will be very good option for Barcelona.But I think Barcelona shouldn’t focus on names rather on match winners.      

M. Neuer was superb this year for Barcelona. He had amazing season in Camp Nou and I hope he wins Ballon d'Or for his extraordinary performance for Barca. Cheesy Cheesy
He doesn't even play for Barcelona! How difficult is to distinguish between two Germans? LoL.

You said 'best player in the World'. But you mentioned:
Dembele (not even World Cup starter for France)
Suarez (old and almost done)
Malcom (still young and not even among the Top 20 wingers of the World right now)
Vidal (always the second choice to Arthur in team)

So I don't feel these players are best talents currently. Barca need a striker like Griezmann for more prowess in attack!
1346  Local / India / Re: Taxability of Bitcoin: A deeper look on: May 17, 2019, 04:50:00 AM
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Remember, if the total volume is over 20L INR, you need GST registration.

Only if Business Receipts/Turnover is above 20L, right? GST and Income Tax are two separate domains. Last year my total income did exceed 20L but I smartly distributed it among 5 heads of income and income under 44ADA was lower than 20L. I showed excess as Capital Gains and Other Incomes. Hence I was free from the burden of GST.

What do you mean by distributed it among 5 heads of income? Do you mean you showed it under 5 different PAN?

There are five heads of income while filing income tax returns:
  • Salary Income
  • Income from House Property
  • Profit from Business and Income
  • Capital Gains
  • Other Incomes

Only third income i.e. PGBP is subject to GST charge. So if you earning in any other head then your income isn't subject to GST. You have to pay Income Tax only. So what I did, I make sure my receipts in third head are below 20L so the question of GST doesn't arise.
Else I filed income return from single PAN only, not 5 lol.
1347  Bitcoin / Press / Re: [2019-05-16] Bitcoin Bull Run Could Eclipse The Last Crypto Bubble on: May 16, 2019, 07:21:12 PM
I read the article and I did not see very strong arguments about why the price is increasing a lot if we remember, last year when the price was falling a lot we also had all that the article said and even then the price was falling a lot...

True! Such articles keep coming, after all these news writers have to write something for sites when they are getting regular pay and there is no new event in Crypto Domain.
It is really hard to predict future in crypto market. We all were yelling bull-bull from last 14 months. But when it actually came, no one was able to predict it until very late.

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I believe that the price is rising because the people realized that 1 year left for bitcoin halving and to get a lot of profit, they started to buy early

I don't think so. Most of the crypto investors aren't even aware of the concept of Halving. Halving will surely create buzz and will push btc prices up but it is too early to state that rise is due to public speculation of halving.
1348  Economy / Gambling discussion / Re: Football Transfers Speculation, Odds and Predictions on: May 16, 2019, 06:38:44 PM
So, it's official - Griezmann is leaving Atletico Madrid after this season. And guess from one time where he will move now. I'm not sure why, but as a fan of Barca I'm looking a bit sceptical towards him. I have fears that story of Coutinho can repeat again...

Coutinho was magnificent in first half of La Liga this season. But later on after injury, he paced down and started doing mistakes. This concentrated performance pressure and he dealt horribly with pressure. Now he is completely off-play. But that doesn't mean he didn't suit to Barca style.

Griezmann on the other side has completely different story. He is a smart attacking player but he always need one more player in front of him to create space for him, let it be Giroud in France team or Morata/Costa in Atletico. But in Barca, he won't get this service. However, I think Griezmann can fit in Barca style if Dembele changes his role. If he can make those long runs from left side and create spaces, Griezmann can surely lead counter attacks from middle with Messi on his right. In current system, Suarez and Coutinho are too slow for counter attack. But after Griezmann arrival, this department might get better for Barca.
1349  Economy / Speculation / Re: How are bitcoin and alt price charts connected? on: May 16, 2019, 05:36:15 PM
Now, when one of the major coins move they all move with it. My first question is how is this happening? when the demand for bitcoin goes up and the price goes up, why are pretty much the top 50 coins going up as well? Same with when the price goes down.

There is one important thing you are missing here.
When you see that all coins are either green or red, it is because you are viewing their value in 'USD' on CoinMarketCap.
Now when the price of Bitcoin rise, other coins usually remain stable or fall. But since the value of Bitcoin is increasing in terms of USD, value of alts also seem like increasing.
I give you example. Suppose Bitcoin is $8000 and Ethereum is 0.03 BTC or $240. Now Bitcoin increases by $300 and reaches $8300 and ETH falls to 0.029 because investors put their money out of ETH and put it in BTC. Now, in reality ETH price has fallen but when you view it on CoinMarketCap in 'USD' market, it will show ETH value in green too becuase in terms of USD, it has risen by $0.7.
So whenever Bitcoin goes up, just compare the percentage of rise with other alts. Usually the percentage of rise of other coins is lower than bitcoin.
1350  Alternate cryptocurrencies / Altcoin Discussion / Re: End Of The Road To Cryptopia? After Loosing $16M To Hackers. on: May 16, 2019, 04:45:11 PM
yes, that is the end of cryptopia. i really enjoyed using this exchange, but by the sudden closing down i lost about 0.001 btc. that is not a lot of money, but annoying anyway. to come back after the hack, and then close again after a few days is stupid. now, more people have lost money and it will take time to make good on their claims.  Roll Eyes

What did you like so much about Cryptopia? Cryptopia was the perfect home for shitcoins. What ICO started doing was after raising some 1000-2000 ETH, they used to pay 50-70 ETH listing fees on Cryptopia, make investors happy and then ran away with rest of the money. Due to this common practice, Cryptopia had the largest volume of shitcoins after HitBTC. Both these exchanges care more for money than development. There were regular pumps/dumps on Cryptopia.
That's why I used to hate Cryptopia and never used it after 2017.
1351  Economy / Gambling discussion / Re: Cricket World Cup 2019 Prediction Pool [Join FREE win x BTC] on: May 16, 2019, 04:06:52 PM
I noticed your similar thread for IPL but it was quite late already so I didn't join that one. But this time I am surely going to join. More than prizes, it would be fun to compete with fellow Bitcoiners.  Grin

My username: webtricks.

Why not make this thread up for discussion too like IPL one, I would love to give predictions and read others' analysis once the competition starts. But I would suggest to make this thread up for discussion only after the start of cup because currently it will attract more spam than quality inputs.
1352  Bitcoin / Press / Re: [2019-05-15] Binance Resumes Normal Operations With A $1.3M BNB Giveaway on: May 16, 2019, 10:50:48 AM
50,000 BnB to be shared among users who will trade coins worth 1 BTC or more during next week.
There maybe 200-300K users easily who will fall in this category. I don't think BnB worth $6-7 would make any difference to them when they already trading assets worth $8000+. It's totally rubbish giveaway. They could have rather picked 500-1000 users randomly and give them 50-100 BnB each. I personally won't be enthralled by $6-7 giveaway and proceed to trade coins worth 1BTC+.
they would not give this value to each user

I didn't say that they should give 50-100 BNB to every user. I said rather than giving $6-7 to each user, they should have given the bigger amount to 500-1000 users randomly. Users would have better liked that way. What good will 0.2-0.3 BNB do for users?


A bit offtopic but how much was the stellar giveaway at Blockchain?

$25 in Stellar to every user who successfully completes the KYC  Cheesy
I have also read that KYC is still pending for more than 60% users especially for the users of the countries where Blockchain doesn't provide buy/sell service. Can you smell something fishy? I do.
1353  Local / India / Re: Taxability of Bitcoin: A deeper look on: May 16, 2019, 09:56:08 AM
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Thank you so much. Your post was quite helpful.

I would also like to point out one thing. GST limit has been raised to 40 lakhs for Goods only. For services (in which we Crypto Earners will fall), it is still 20 lakhs.
1354  Local / India / Re: Taxability of Bitcoin: A deeper look on: May 16, 2019, 06:43:29 AM
Capital Gain applies only when you have a gain on your invested capital. If you have never bought crypto, there is no question of capital gain either.

Yes, right. But the question is what could be the alternative now. I want a tension free filing of income with no trouble from Income Tax Dep. Therefore, I thought declaring my whole income as CG (although it isn't) could be an easy way out. Though I have to pay tax lot more than what it will be in presumptive taxation, but still Income Tax dep. won't investigate CG much.

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Make sure to accept the proceed of your crypto sales at a current account. Keep note of all the transactions. Pay tax as per presumptive taxation rules.

I did file my return under 44ADA as presumptive taxation last year because it was possible to trail back the source of income via Zebpay account. I can easily differentiate my crypto receipts from other receipts because they were credited from Zebpay account. But this year, receipts have come from personal accounts of buyers because I sold on P2P exchanges. Hence, it is almost impossible to differentiate which are actually crypto receipts and which are not. In such circumstances, I have no evidence to trail back transaction to my crypto earnings. Income Tax Department will surely not believe my return on mere words.

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Remember, if the total volume is over 20L INR, you need GST registration.

Only if Business Receipts/Turnover is above 20L, right? GST and Income Tax are two separate domains. Last year my total income did exceed 20L but I smartly distributed it among 5 heads of income and income under 44ADA was lower than 20L. I showed excess as Capital Gains and Other Incomes. Hence I was free from the burden of GST.
1355  Economy / Economics / Re: Deflation based currency such as Bitcoin to counter promote economy. on: May 15, 2019, 07:05:49 PM
Some define deflation as the decrease in the money supply and each day more bitcoin is being mined so this is not accurate, what happens is that eventually the rate at which bitcoin is being mined will be very small compared to the available supply but it will still count as inflation, now if what you are talking about is the amount of bitcoin lost, the truth is that those coins are not lost forever since someone could generate the private key in the future by accident and they could move and use those coins as they please, this is unlikely but there is a very small chance of that happening.

Who said deflation refers to decrease in supply? The concept of inflation/deflation is not proportional to supply rather it is related to price.
You can't say Bitcoin is inflationary because new bitcoins are mined everyday. When you compare the rise in demand of Bitcoin with rise in supply, you will notice that demand is rising at much more rate than supply. This is what causing surge in Bitcoin prices. Thus, the value of other commodities in terms of Bitcoin is decreasing as the demand is rising and new supply is shrinking with every halvening. This makes the Bitcoin deflationary.
1356  Local / India / Re: Taxability of Bitcoin: A deeper look on: May 15, 2019, 06:12:51 PM
In such a scenario I can only see following ways out:
1. I should file my income as Capital Gains where I can mark Cost of Acquisition to be NIL and file either STCG or LTCG on whole amount which has been credited to my account in previous year from buyers.
2. Carry on with my existing practice of showing credits as receipts and pay tax under PGBP. However, in this case I won't be able to provide any bill if I received Notice from Income Tax Department.

Are you facing the similar situation? If yes, then what have you decided. If no, then too share your views. Let's have a quality discussion as it is serious matter for Crypto Earners in India.
Filing under capital gains is the option if you are making enough money with bitcoin, but the real problem is with the current government, you really cannot trust how they will deal with the platform since there is no clarity on whether they will legalize it or not, what if they go after everyone who traded bitcoin once you report it as capital gains and then there will be a huge issue to deal with the legal issues. I am not that good in this field and hence i posed this doubt. Will the government has the ability to come after bitcoin investors at a later time if they ban it completely.

I don't think government will come after old transactions even if trading Bitcoin gets ban in future. Any law is applicable from the point of time when it is actually comes into effect. All transactions before that point of time is outside the scope of that law. So there is no problem to report any Crypto profits as CG for filing return of Assessment Year 2019-20.
The actual problem which makes reporting income as Capital Gains difficult is complications in finding Cost of Acquisition. In the absence of COA, one has to pay tax on whole selling value which would result in lots of money flowing out as a tax.
1357  Alternate cryptocurrencies / Altcoin Discussion / Re: Arguments against XRP, the biggest shitcoin. on: May 15, 2019, 05:31:33 PM
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this could be your perspective and observations about ripple but yet many still buy into it, companies partners with them and make use of xrp as a payment options, traders still trades it. Let's see how it goes in the near future

Greed supersedes intelligence. All investors care for is short time profit. They hardly think about the core of the coin they investing in. I still remember back in 2017, Ripple was selling at the premium 20-25% in India because there was the rumor that XRP gonna surge triple-fold. While in international market XRP was around $2.5 but in India it was selling for $3.3-3.5 and the buyers were the people who don't even knew what blockchain was. They were buying just believing the words of mouth. This explains all.
1358  Economy / Games and rounds / Re: Bitcoin Bullet - Twitter Games (Play and win free bitcoin) [NEW GAME ADDED] on: May 15, 2019, 05:07:20 PM
I am pleased to inform that new giveaway is added on Bitcoin Bullet. This time the reward is 2000 TRX!
Hurry and join the giveaway now!
https://twitter.com/Bitcoin_Bullet/status/1123653465387847680

The winners of this giveaway have been declared. The twitter handle of the winners are:
@xavelhinha33
@cryptspacelover
@ejioforkel
@Bitcoin_Publish
@Abegail0125

 In order to claim the prize, reply your TRON address to this tweet from your twitter handle: https://twitter.com/Bitcoin_Bullet/status/1128707080624398341


Great to know that the giveaway have been extended till may 15, I just saw this thread now and have read through the comments but have not seen any one aside you giving feedback on the game transparency. But I will give it a try any way and return back to give my honest review of your platform.

You can check the legitimacy by verifying this draw identifier: gs2UXUYw on https://competitionagency.com/tweetdraw/
1359  Bitcoin / Press / Re: [2019-05-15] Binance Resumes Normal Operations With A $1.3M BNB Giveaway on: May 15, 2019, 04:46:10 PM
50,000 BnB to be shared among users who will trade coins worth 1 BTC or more during next week.
There maybe 200-300K users easily who will fall in this category. I don't think BnB worth $6-7 would make any difference to them when they already trading assets worth $8000+. It's totally rubbish giveaway. They could have rather picked 500-1000 users randomly and give them 50-100 BnB each. I personally won't be enthralled by $6-7 giveaway and proceed to trade coins worth 1BTC+.
1360  Economy / Trading Discussion / Re: Good trading strategy for newcommer? on: May 14, 2019, 05:51:08 PM
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Have you seen the high volatility that the price has had since last week? in this crypto market it is increasingly difficult to do daytrade and it is very difficult to stipulate some profit goal per day, week or month. I would recommend that you buy and hold for more than 2 years ... because doing daytrade you will run a high risk of losing all your money

I don't think putting money in coin and holding it for 2 years is good strategy at all. I tried the same with Stratis and Waves in 2017 but after two years I am in loss of 60%. Crypto market changes very rapidly. The trendy coins of today may not be good coins for tomorrow. Crypto Market is very prone to news and FUDs. That's why I recommend shifting funds from one coin to other periodically so that your portfolio remain upto date with market trends. Stratis was trending in 2017 and was one of the Top 15 coin but in 2019 it is out of Top 50 coins. So my decision to hold it for 2 years was surely a wrong one.
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