[Fuldagap]

Originally Posted by Gansan

I am unable to register there. It wants me to attach a crypto wallet, I don't have one.

Try this link. It doesn't require any wallet or anything, just a social login via Google or others.
https://www.sandbox.game/en/map/?lit...tY=-270&zoom=1

Attaching a screenshot too for reference.

[avingodb]

Can anyone help me with research and writing suggestions linking blockchain and climate change?

One of my young students is keen to research this area and he is keen to know what to read to understand both positive and negative impacts that blockchain may have on climate change including day to day impacts, mitigation, policy, choice, national reactions etc. Any help would be most useful!

[Fuldagap]

Total number of investors from India are approximately 1.5-2 crores. Total worth of investment approx 35k crore INR.

Source: the following interview of WazirX ceo with The Wire.

https://m.youtube.com/watch?v=9O_cabM4Fzg

[Gansan]

Just saw this news. No Crypto ban in India, they will be regulated by SEBI:

https://www.businessinsider.in/crypt...w/88065166.cms

[SnS_12]

Summary of the proposed bill as per TOI
https://timesofindia.indiatimes.com/...w/88145125.cms

According the summary of the bill, the government is planning a "general prohibition on all activities by any individual on mining, generating, holding, selling, (or) dealing" in digital currencies as a "medium of exchange, store of value and a unit of account.

[Samurai]

Originally Posted by SnS_12

Summary of the proposed bill as per TOI

How is that not a ban?

[warrioraks]

It’s better to wait for the government to officially table the bill and disclose details. Over the last few pages of this thread, we have had news ranging from ‘all crypto will be legal and regulated like a commodity’ to the latest one where it is being said that ‘crypto owners can face potential arrest without a warrant’.

These news speculations tend to work exactly like the crypto world - wild swings every day

[SnS_12]

Originally Posted by Samurai

How is that not a ban?

If you go by the tone of the government till date the proposed bill doesn't look promising and plus the official comment from Union Minister of State Pankaj Chaudhary on Monday was that "The Government has no plans for boosting the cryptocurrency sector in India" https://www.financialexpress.com/mar...india/2383058/

The next issue for crypto owners worldwide is Chinese Real Estate market. The crypto market is volatile, even the slightest bump in the status quo can send the price of the biggest cryptocurrencies including Bitcoin — through the roof or down in the dumps. We had the Japan's Real Estate crisis in 1989 which ultimately lead to Japan's Lost Decade and the Chinese Real Estate bubble is definitely going to be worst as it contributes close to 30% to its GDP and has 70% of household wealth invested in it.

Many big investors definitely have money invested in cryptocurrency and when things start going south, what will they liquidate first the crypto or their stocks??

[Fuldagap]

Originally Posted by warrioraks

It’s better to wait for the government to officially table the bill and disclose details. Over the last few pages of this thread, we have had news ranging from ‘all crypto will be legal and regulated like a commodity’ to the latest one where it is being said that ‘crypto owners can face potential arrest without a warrant’.

These news speculations tend to work exactly like the crypto world - wild swings every day

Even Indian Express, which has more credibility than many others, has made similar claims that one could be jailed or could be fined for 20 crore rupees. They mentioned this in bold headlines. Headlines say something else while the article inside has something else. Naive people would have again lost money by selling at poor rates and losses. Media plays a game by making silly headlines while people don't get to know the actual status of what's going on.

WazirX very recently opened a new current account with Kotak bank. See how various media outlets depict it in their respective headlines

[SmartCat]

Originally Posted by Fuldagap

WazirX very recently opened a new current account with Kotak bank. See how various media outlets depict it in their respective headlines

Yeesh. I spotted those headlines but did not bother to read the article. And I really thought Kotak Bank customers could transfer funds to WazirX now.

[Fuldagap]

Now WhatsApp foraying into crypto trading in the US. Although small in number, the pilot project can easily make waves due to the sheer number of WhatsApp users in the world. Sharing cryptos like attachments inside the chat, bonkers!

[Electromotive]

The PM's twitter account got compromised and was used to promote a bitcoin scam.

PM's Twitter Handle "Briefly Compromised", Shares Crypto Scam Link
https://www.ndtv.com/india-news/brie...m-link-2647209

Hope this brings in the ban-hammer or very strict regulations on crypto.



BTW, it appears strong distribution is happening presently in the crypto markets. Quite possibly a crash is coming, whales are cashing out. Lots of people will learn old lessons from the bags they are holding. Fingers crossed.

[Godzilla]

Six of the most prominent CEOs in the crypto world has testified In front of congress. This video highlights some of the discussions. Must watch if you are interested in crypto

https://youtu.be/QvAiM-Ic3oE

[rkv_2401]

Originally Posted by Electromotive

...

Hey, I saw your earlier post in this thread and wanted to bring that up. You raised a very good point - whether people think cryptocurrencies are the future of finance or a ponzi scheme with fancy terms, it's important to make sure your beliefs regarding the topic don't inhibit you from putting yourself in a position to make FIAT out of it. Be that as a trader, 'investor'/speculator, cryptocurrency miner, running a node, yield farming/staking, etc. - or even just running a YouTube/Instagram/Twitter crypto page and regurgitating content we've seen elsewhere ("HODL!!! buy the dip!1!") since 2013.

There's LOTS of money flowing around in this space, particularly thanks to NFTs which perfect the art of money laundering. By my understanding, if you have 500k dollars and buy Ethereum with it, make some terrible art of a stray dog or cat, mint that into an NFT and sell it to yourself for 500k USD worth of Ethereum (on a different wallet, for obvious reasons) - you now have 500k of ETH and an NFT 'worth' 500k! Not to mention - if you sell that NFT and the next guy buys it at an 80% dip in price for 100k, you have now laundered some money and someone else has given you THEIR money while you're laundering yours! You can probably file tax losses for that 400k USD 'loss' on the NFT while actually being up 100k from where you were before, and bonus money if you have a sequence of NFTs that all sell for a non-zero sum. People predominantly speculate on crypto based on the 'greater fool' theory - i.e there's a fool willing to pay an even greater amount for this 'asset' than me. But if there's even a chance of someone rigging the game (as with NFTs), I don't know why people would play it!

Back to my point, the whole market is shaky, yes. USDT is "backed by assets" but still printed 6 billion 'dollars' worth of USDT coin in 2 weeks at some point. NFTs are such an obvious money laundering scheme that it's unbelievable. But if you find a way to make money and be in the green regardless of all this, regardless of whether cryptos tank by next year or moon, you're still ahead of the people who either very strongly believe in the coins they hold and hold it through the massive dip ('Dogecoin millionaire' comes to mind - although he's probably making money off of his publicity too), or people who are hesitant/dismissive of even the thought of looking into it and miss the rocket to the moon/Mars/Andromeda or wherever else they're aiming now. And I think that doesn't get spoken about enough.

[Electromotive]

Originally Posted by rkv_2401

...

Well put.

The whole pyramid stays up as long as fresh fiat keeps flowing in and for that, sentiments need to be kept high. As soon as the inflow of fiat stops the whole thing comes crashing down.

At some point even the noobs will stop and ask themselves -- if any random Joe can fork a codebase and create their own crypto, what real value does said crypto actually have?

The biggest issue is that sometimes an illusion gets so big it becomes self-sustaining, like a fusion reaction. NFTs in gaming and defi applications can help make that happen in cryptoverse. Govts and central banks have to be really careful how much legitimacy they give crypto because there is an actual threat of Govts losing control of their own currencies and consequently - their economies, and once that happens, chaos and bloodshed follows.