Bitcoin mining is being banned in countries across the globe—and threatening the future of crypto
Mining Bitcoin is one of the most profitable businesses on the plant—but it also consumes too much energy for a growing list of nations.
Bitcoin mining is being banned in countries across the globe—and threatening the future of crypto
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nishthecooldude
Herald
90 % is already mined. in black market mining 10% is not that of a big deal.Bitcoin mining is being banned in countries across the globe—and threatening the future of crypto
Mining Bitcoin is one of the most profitable businesses on the plant—but it also consumes too much energy for a growing list of nations.fortune.com
joy.das.jd
Herald
DaviBros
Beginner
As I know Bitcoin is banned only in 9 countries (according to "Fortune" magazine https://fortune.com/2022/01/04/crypto-banned-china-other-countries/) so now is too early to talk about it's ending.
But according to industry experts, the problem with bitcoin and other cryptocurrencies is that their mining increases energy consumption at a time when the world simply does not have enough energy capacity for this.
Let's wait
But according to industry experts, the problem with bitcoin and other cryptocurrencies is that their mining increases energy consumption at a time when the world simply does not have enough energy capacity for this.
Let's wait
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immolationepoch
Forerunner
Search for the amount of time it'll take to mine the remaining 10%. It's much longer than you think it is.
The most successful ponzi scheme of all time is finally coming to an end.
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psyph3r
Juggernaut
Budget 2022 levies 30% tax and TDS on cryptocurrency assets
TDS will be imposed on payments for the transfer of crypto assets at a rate of 1% for transactions over a certain threshold. Furthermore, gifts of cryptocurrency assets will be taxed in the recipient's hands.
Time lagega. still 2 to 3 months I think.Budget 2022 levies 30% tax and TDS on cryptocurrency assets
TDS will be imposed on payments for the transfer of crypto assets at a rate of 1% for transactions over a certain threshold. Furthermore, gifts of cryptocurrency assets will be taxed in the recipient's hands.economictimes.indiatimes.com
psyph3r
Juggernaut
Kaleen Bhaiya
Innovator
Does Govt's Move To Tax Crypto Assets Mean Legalisation? Not Necessarily
Budget 2022: Indian courts have previously held that income from illegal activities is also taxable. Therefore the proposal in the Union Budget to tax crypto trades at 30% does not mean the Modi govt is shelving plans to ban private cryptocurrencies.
Ebil
Forerunner
This article is a perfect example of how 'whales' manipulate the market. This is meant to create FUD among the masses to make them sell their bags. It would a good indication that prices are set to go high #notfinancialadvise
psyph3r
Juggernaut
Does Govt's Move To Tax Crypto Assets Mean Legalisation? Not Necessarily
Budget 2022: Indian courts have previously held that income from illegal activities is also taxable. Therefore the proposal in the Union Budget to tax crypto trades at 30% does not mean the Modi govt is shelving plans to ban private cryptocurrencies.www.thequint.com
As if the govt. will give up an opportunity to tax people more.
Demonetisation-> UPI ->GST -> Digital Rupee, they just want a cashless society so they can rob you blind.
bye bye to all companies who were trying to build business in India round NFT/block-chain.
now India has 3x the currencies we had in circulation before demonetisation, this will increase even more... as people losing trust in banking and decreasing rate of interest and security of money ( capped at 1L by govt).
banks has ever growing NPA. To reduce that risk it decided to kill banks.... today first step were taken in the direction to speed up the "slowly dying" banking system.
Very futuristic soch baba, very futuristic. No bank no tension, no currency no fake money sent by Pakistan and Bangladesh.
Introduce cow-coins. Masterstroke !!
Mastersstroke hai jee!!
now India has 3x the currencies we had in circulation before demonetisation, this will increase even more... as people losing trust in banking and decreasing rate of interest and security of money ( capped at 1L by govt).
banks has ever growing NPA. To reduce that risk it decided to kill banks.... today first step were taken in the direction to speed up the "slowly dying" banking system.
Very futuristic soch baba, very futuristic. No bank no tension, no currency no fake money sent by Pakistan and Bangladesh.
Introduce cow-coins. Masterstroke !!
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tech.monk
Herald
obviously at one side cow and other side all know whose face will be there - call it another masterstroke.
Kaleen Bhaiya
Innovator
Divyam Dalal
Apprentice
Its not about tax at this point, the thing is, THEY LEGALIZED it!!
Now people can start legitimate businesses for mining and can even offshoot their electricity costs as business expenses and cut down their tax amounts!
This is very bad for tech industry for a longer term! More people will start going for handheld devices and consoles down the line if this continues. Sellers and resellers have to sell to the miners right now but in the longer term, this affect the DIY space definitely!
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