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mohit9206

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Posts posted by mohit9206

  1. The CryptoCurrency Thread

    in General Chatter

    Posted

    Cryptocurrency is one of the stupidest smart thing. Literally destroying the environment to virtually mint imaginary currency. Ruining the world, personal finance of idiot nerds and gaming economy all that the same time. I really hope it crashes and burns sooner than later. US ban will be key for it but I guess now that wall street is involved, it seems unlikely. Hopefully, Indian ban starts a worldwide trend. 
    There won't be a ban atleast on things like bitcoin . Only private cryptos will be banned. 10 crore Indians invest in crypto.

  4. The Coronavirus Thread Part 2

    in General Chatter

    Posted

    >Israel’s chief of public health services, Dr. Sharon Alroy-Preis, warned Sunday that the potential for infection with the COVID variant omicron is “very high,” but stressed that in cases where vaccinated people were infected they became only slightly ill.

    Seems anecdotal still, but honestly things are looking more and more promising by the day. Hopefully we don't come to eat these words.

    Keep in mind, too, that this is coming from Israel's health department, which is by far one of the most cautious and doom-laden in the world. They were the first to signal that vaccines wane and they were the first to close borders when this variant came out. They don't just say stuff like this.

  7. The Stock Market thread

    in General Chatter

    Posted

    New strain
     
    Lockdowns again starting in Europe 
    I don't see this as an issue, as usually markets always ignore Covid related news. So maybe markets using this as a quick opportunity to correct. I don't think markets will fall much from here so good buying opportunity to top up mutual funds and buy some shares

  9. The CryptoCurrency Thread

    in General Chatter

    Posted

     
     
    The post was about cryptocurrencies in general and not on bitcoin in particular. 
     
     
    Also how can something so volatile can be used as a hedge against inflation? 
    It may be volatile just like the stock market but the trend is always up. Also yes am specifically referring to bitcoin. Altcoins are something i believe no one should touch and mostly just scam.

  10. The CryptoCurrency Thread

    in General Chatter

    Posted



    https://prsindia.org/billtrack/draft-banning-of-cryptocurrency-regulation-of-official-digital-currency-bill-2019?s=09
     
     
    I think the govt wants to bring in an RBI backed digital rupee (or indian crypto). 


    Lol what a joke

    I get all the decentralised love for crypto, but genuinely, for a typical middle class salaried person who would pay their taxes on time (there's no other option), what benefit does crypto provide except speculative trading ? 
    Blockchain is not crypto. So let's not talk about the underlying tech. 
    What are the legitimate uses in day to day life ? 
    With so many new fangled coins been promoted on twitter etc, it is extremely easy to manipulate and earn millions out of other's pockets. 
    I'm not saying the stock market is a saint, but you do have a fundamental background to study. Whether you do it or not is entirely different. But what about most cryptos ? The overnight sensations just use a bunch of buzzwords and celebs to promote, cash out and run. 
    What value is Shiba coin providing except gambling after Musk's endorsement ? 
    How many people really understand how cryptos work ? 
    Strictly my opinion, but it is gambling. Not blaming the technology, but what are the real legitimate uses of cryptocoins ?


    Bitcoin is a hedge against inflation. If you hold bitcoin, inflation won't affect you.

    Agreed with everything here. 
     
    And everyone seems to be missing the real point with cryptocurrencies. It's fundamentally down to bitcoin vs the rbi backed currency. So bitcoin backers, whats the advantage of bitcoin over an official coin ? hmmm...


    The whole point of bitcoin is it is decentralised which is the main advantage so government cannot control it. Yes some whales and big institutions can manipulate it but bitcoin has already proved itself to be a great asset. More and more companies in the world accept bitcoin as a payment method. Usa also official allowed trading in bitcoin. More and more big companies are adopting bitcoin.
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