Bitcoin mining is being banned in countries across the globe—and threatening the future of crypto

Ramadhir Singh said:
sorry to say, but looks like many of you had a premature ejaculation :D
Click to expand...

Just another FUD flip-flop as usual, normal day in crypto.

Ramadhir Singh said:
bye bye to all companies who were trying to build business in India round NFT/block-chain.
Click to expand...

gadgets.ndtv.com

India-Based Polygon Raises $450 Million From Sequoia, Others

Polygon's latest fundraise will boost the platform’s scaling capabilities and could encourage the adoption of Web3 applications.
gadgets.ndtv.com gadgets.ndtv.com
 
Ramadhir Singh said:
sorry to say, but looks like many of you had a premature ejaculation :D

direct link to post - hxxps://twitter.com/timesofindia/status/1492086135740592128

if any of you talk crypto, i will take screenshot and report to govt authorities .. you will go jail and chakki pissing.
Click to expand...

This was already discussed in a few posts that taxing doesn't make it illegal.
Same way if you are found with a lot of unaccounted money then you have to pay tax on it along with penalty and some jail time (if your game is weak)

95% of the people in our country don't pay taxes doesn't reflect that 95% are in the nontaxable bracket
 
Sarath_ said:
Same way if you are found with a lot of unaccounted money then you have to pay tax on it along with penalty and some jail time (if your game is weak)
Click to expand...
for unaccounted money, 99% of the cases there won't be a jail time as long as you pay penalty. Income tax officials give the details of the unaccounted money to enforcement directorate who in turn investigates whether the money is from a crime - money laundering, drugs, etc. and prosecutes further. If its a case of tax evasion using cash transactions, you will get a slap in the wrist with some penalty. That's all. Same would happen for crypto as there is no law or GO or notifications, prohibiting the purchase and sale of crypto. It has not been legalised yet but does not mean that those who trade on it can be punished for it.
 
They can't stop mining since everyone will start withdrawing from it (convert bitcoin to legal tender) and the whole scheme will collapse

It will be fun watching this ponzi scheme collapse

I can't fathom what effects it will have on the global markets
 
Sarath_ said:
They can't stop mining since everyone will start withdrawing from it (convert bitcoin to legal tender) and the whole scheme will collapse

It will be fun watching this ponzi scheme collapse

I can't fathom what effects it will have on the global markets
Click to expand...
It will one day, can be few months to few years nobody knows but will surely.
 
The biggest problem with crypto I feel is that one is only looking at the financial aspect of it. As a technology it is amazing in what it can do. The amount of money and paperwork required for even sending some money for legitimate reasons (education, business, financial assistance) is just way too much currently. I understand that, it has been done to reduce bad actors, but still bad actors exist. People will always find ways to circumvent any obstacles. And crypto as such is just another technology, people will find ways to exploit it, its no perfect technology, but it can be improved. A lot of fear for crypto comes from it invalidating a lot of unnecessary mechanisms, and it uncovers a lot of flaws of the current system, which obviously people are going to be offended by (its 2022 after all). From ecological perspective, it definitely has its problems, but so do a lot current industries. Banning it, only worsens the problems as, now there are a lot less people looking at it, and overall image of the product is now being shown in a bad light. I know this is a unpopular opinion here, but I really speak from the view of someone who has an open mind and loves new technology.
 
I am in Lead generation business and just recently was approached by a client to find leads for companies that deal in crypto mining or finances so no matter we say this business is growing and more companies want to get involved
 
senpaidev said:
The biggest problem with crypto I feel is that one is only looking at the financial aspect of it. As a technology it is amazing in what it can do. The amount of money and paperwork required for even sending some money for legitimate reasons (education, business, financial assistance) is just way too much currently. I understand that, it has been done to reduce bad actors, but still bad actors exist. People will always find ways to circumvent any obstacles. And crypto as such is just another technology, people will find ways to exploit it, its no perfect technology, but it can be improved. A lot of fear for crypto comes from it invalidating a lot of unnecessary mechanisms, and it uncovers a lot of flaws of the current system, which obviously people are going to be offended by (its 2022 after all). From ecological perspective, it definitely has its problems, but so do a lot current industries. Banning it, only worsens the problems as, now there are a lot less people looking at it, and overall image of the product is now being shown in a bad light. I know this is a unpopular opinion here, but I really speak from the view of someone who has an open mind and loves new technology.
Click to expand...
Crypto doesn't solve any problems that current systems have and offers no new solutions on its own. It is the worst of both worlds.
 
simpler rules, will make others life simpler... present government is putting their finger into every territory... mostly where we can make some money
 
Has anyone ever used Bitcoin to accept remittance? Is it a good idea? Currently getting money through paypal or other similar means take 5 - 10 days and I lose about 10% in currency exchange and other things.

What are the tax implications of accepting remittance in bitcoin?
 
lockhrt999 said:
Has anyone ever used Bitcoin to accept remittance? Is it a good idea? Currently getting money through paypal or other similar means take 5 - 10 days and I lose about 10% in currency exchange and other things.

What are the tax implications of accepting remittance in bitcoin?
Click to expand...
take it as of now. in future not so great of an idea if 30% is what they will charge.
 
Back
Top