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The CryptoCurrency Thread


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30 minutes ago, Bird Bird Bird said:

Govt. and RBI keep dilly dallying.

Feels like this is being done to let people in power accumulate crypto on dips.

 

This is exactly the reason why I haven't dabbled in it. Need an exchange, wallet and medium which is completely cut off with the Indian regulators.

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Govt. and RBI keep dilly dallying.
Feels like this is being done to let people in power accumulate crypto on dips.
 
This is exactly the reason why I haven't dabbled in it. Need an exchange, wallet and medium which is completely cut off with the Indian regulators.
Hopefully RBI isn't dumb enough to ban crypto. It would be a bad look. Also in case they do ban it, what happens to millions of people who are currently invested in crypto? Are all their money gone?
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5 hours ago, mohit9206 said:
7 hours ago, KunjanPSD said:
Govt. and RBI keep dilly dallying.
Feels like this is being done to let people in power accumulate crypto on dips.
 
This is exactly the reason why I haven't dabbled in it. Need an exchange, wallet and medium which is completely cut off with the Indian regulators.

Hopefully RBI isn't dumb enough to ban crypto. It would be a bad look. Also in case they do ban it, what happens to millions of people who are currently invested in crypto? Are all their money gone?

gone

puff

vaporized in thin air

just as fast n furious as ur funds get deducted from wallet once u click buy/invest :puspa:

j/k bro, Crypto ain't going anywhere :cheers:

Edited by Pushy
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23 hours ago, SuperT said:

Guys who actively trade in Crypto, how do you account for it during income tax payment ? Or is it not taxable currently ? 

 

As far as I know it comes under short term capital tax. 

 

1 hour ago, Rey said:

Guys need to send some money(40 USD) to a bitcoin address. What's the best way/app/site to do it?

Thanks.

 

Wazirx, But do check about the minimum transfer amount & The transfer fee. 

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1 hour ago, TAZ said:

Wazirx, But do check about the minimum transfer amount & The transfer fee. 

 

How? All I see there are the options to Exchange, P2P or add funds to my own wallet.

Can it be done so that it takes funds from my bank/card and send directly to a BTC address I specify?

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19 hours ago, Rey said:

 

How? All I see there are the options to Exchange, P2P or add funds to my own wallet.

Can it be done so that it takes funds from my bank/card and send directly to a BTC address I specify?

 

You need to add funds first, Then buy the crypto you want to transfer. Once you have the Crypto then you can select the option to send. and paste the receivers address. https://wazirx.com/fees This page will give you all the related information.  

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  • 2 weeks later...
18 hours ago, SuperT said:

What is with the constant fall in crypto since the past 3 weeks ? Is it the rising coivd cases globally or is there no explanation when it comes to crypto ?

 

Kazakhstan crisis: Bitcoin price slumps as nationwide Internet blackout hits crypto miners

https://www.euronews.com/next/2022/01/07/bitcoin-price-slumps-as-kazakhstan-internet-black-out-hits-crypto-miners

 

Bitcoin network power slumps as Kazakhstan crackdown hits crypto miners

https://www.reuters.com/markets/europe/bitcoin-network-power-slumps-kazakhstan-crackdown-hits-crypto-miners-2022-01-06/

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8 hours ago, Animus said:

 

Kazakhstan crisis: Bitcoin price slumps as nationwide Internet blackout hits crypto miners

https://www.euronews.com/next/2022/01/07/bitcoin-price-slumps-as-kazakhstan-internet-black-out-hits-crypto-miners

 

Bitcoin network power slumps as Kazakhstan crackdown hits crypto miners

https://www.reuters.com/markets/europe/bitcoin-network-power-slumps-kazakhstan-crackdown-hits-crypto-miners-2022-01-06/

Don't go by these articles. There is no clear correlation between btc network hash rate and price. It's just sentiment and speculation.

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On 1/10/2022 at 5:33 PM, SuperT said:

What is with the constant fall in crypto since the past 3 weeks ? Is it the rising coivd cases globally or is there no explanation when it comes to crypto ?

 

If you look closely at the charts, BTC is following the old pattern (Not exactly) but similar that of May 2021. Which indicates the market Is in bearish trend and would continue to do so this year. It might see some 10% pumps here and there.

 

Most of the investors think that Crypto market always goes up which is not really the case. The 2021 Bull run came after 4 years, So now is the best time to invest 1-2 years and invest in solid projects only. Rest you cannot predict anything :)  

Edited by TAZ
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Posting this for the people who are new to crypto or are about to start. I am firm believer of investing in BTC-ETC, These should be at least 50% of your portfolio. Rest 50% can be invested into altcoins (MATIC-SOL-LINK-DOT). 

 

People fall for new projects and they invest after it has peaked at its ATH & then it busts for ever. So research before you invest, Projects which have long term road map should be considered. Stay away from so called "Youtube experts". Do your own research and then invest. 
 

Kindly look at this data before investing into new projects. I am attaching past 7 Years data, You guys will be surprised to see that the most of the coins in the top 25 in year 2015-16-17-18 are no where to be seen now (Only few have stayed & grown). I am expecting the same with the recent coins as well, So invest wisely and HOLD long term. 

 

2015 https://coinmarketcap.com/historical/20150101/

2016 https://coinmarketcap.com/historical/20160101/

2017 https://coinmarketcap.com/historical/20170101/

2018 https://coinmarketcap.com/historical/20180101/

2019 https://coinmarketcap.com/historical/20190101/

2020 https://coinmarketcap.com/historical/20200101/

2021 https://coinmarketcap.com/historical/20210101/

 

Hopefully this post can be of some help to this community, Just thought of posting this cos I don't want others to make the mistakes which I did. 

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