Category: Financial News

1 min read

Miraculous world but something was rotting on this planet!

Why I am saying this?

Two of the richest men in the world spent the day after day calling Bitcoin “rat poison,” “turds,” and “harvested baby brains.” Big investors Warren Buffett and Charlie Munger said these words trashing Bitcoin.

I still can’t recover from shock because of the Munger’s words!

C’mon man, “harvested baby brains?” That is really weird.

These two investors belong to old school and I usually squeeze a sarcastic smile on such words.

Also, I could say that two old men yell at Bitcoin.

But what pushed me up to mention them? The two of them, as well as most other investors who have gained wealth and manage large amounts of money, are aware that the New Age is coming and they realize their life’s work is in danger if Bitcoin succeeds. The true miraculous world is coming.

But let’s just ignore the vocabulary for a moment. What did they try to say to us? Finally, what did they say?
First of all, we don’t have any hope. That we did not deserve to hope and that real money belongs only to rich people. Yeah right! They are not stupid people, they recognize the philosophy of Bitcoin. They know it’s like a Social Contract, that accounting belongs to everyone owning Bitcoin. Nothing is hidden and it is available to everyone at any time.

Fiat maximalists are hilarious. I can’t lol this because I recognize that evil intention to keep the world’s wealth in the hands of several people.

They aren’t stupid, they own: 
17.8% of American Express
13.1% of Moody’s Corporation
 9.5% of Wells Fargo
 6.7% of Bank of America
6.1% of Bank of NY Mellon Corp
 5.3% of US Bancorp
Six of Berkshire Hathaway’s ten largest holdings are in legacy financial companies.

 

 

 

 

 

Further, they are intentionally trying to create FUD just to test the health of the crypto market before big money skyrockets BTC passed 10K.

Let me be clear.
I respect them for what they are but they should not hammer thing they do not understand. Their argument would have been far better received if they had used less juvenile insults. Unfortunate that such smart and successful folks disregard as childish (considering the language), the incredible technology that underpins Bitcoin and which empowers folks less fortunate to participate in a new order of exchange.

What can I say?

Old rich people are scared as hell!

And they have 92 Billion reasons why. Bitcoin is threatening their vested interest like never before.

And they sound like still use Nokia and have no idea about technology, don’t you think?

But one thing is important.

Bitcoin survived a battle with the titans of Wall Street! What does that mean for us who believe in the future of Bitcoin and other cryptocurrencies? More and more people realize that Bitcoin and cryptocurrencies are a direct and heavy threat to the “rich guy club” known as fiat banking. And that is marvelous!

On the end only we can say is: step back, this world belongs to all of us!

Risk Disclosure (read carefully!)

3 min read

Bitcoin was popular in India before it came there. Then it became the most popular crypto in India.

But the Indian current  Finance Minister, Arun Jaitley referring to the country’s budget for 2018-2019 in February this year, touched on crypto-themes and their usage in the country. More precisely, he said that “the government does not consider the cryptos of a legal and legal means of payment” and that legislators will take “all measures” to eliminate their use in criminal and illegitimate activities.

Media in India reported:

A prominent presenter on the main television channel, which watches over tens of millions of viewers, said: “Bitcoin will be banned. Criminals are illegal in India”, says Arun Jaitley on his Twitter account, which has more than a million followers.

Indian Reuters released a dramatic title “India promises to ban crypts,” pointing to “banning virtual currencies like bitcoins” by the Indian authorities.

This example was followed by the world’s media.

Contrary to the global media coverage of the Indian authorities and the alleged ban on bitcoins and other cryptos, India does not even prohibit cryptos or their trading on stock markets.

In an interview with the Indian state broadcaster Doordarshan after his presentation of the state budget, Jaitley was asked whether the government decided to prohibit cryptos, and he said: “We do not encourage people to use them at the moment.

There is a government commission that is considering this issue and it will announce its decisions and next steps after the problem are considered.”

There is no ban on bitcoin, we repeat, there is no ban! The fact is that there are no prohibitions.

In India, there are at least 15 bitcoin exchange forums, with the majority being set up over the past two years.

For the bitcoin industry in India, the job continues without major earthquakes. Sathvik Vishvanath, Executive Director of Unocoin, one of the largest bitcoin exchanges in India, said:

“We did not notice any change in the attitude of the government. We are pleased that the authorities are taking action against the unauthorized use of cryptos, but there is no reason for any panic. The bitcoin business continues with the usual flow in Unocoin.”

In Zebpay, which is another leading bitcoin exchange, they say: “When a significant platform such as the Union budget mentions cryptos, this means that this topic has matured and is seriously discussed. We welcome this positive development and see it as an important milestone on the road to clear policy and consumer education.”

The Indian Bitcoin industry and community are still substantially smaller compared to other countries in the Southeast Asia region. By hosting various Bitcoin-related events such as Blockchain Hackathons, Bitcoin could really explode in the economy of India.

India has a strictly regulated finance and banking sector

India has a tightly regulated finance and banking sector, so it is important to stress that bitcoin is not evil.

Indian Finance Minister, Arun Jaitley in his 5th and last full year budget before the general election, to be held in 2019, cleared up the government’s intentions regarding Bitcoin.

In India, bitcoins have been trading at more than Rs 10 lakh each, while people are investing amounts ranging from Rs 3,000 to several lakhs of rupees to buy bitcoins.

It’s not absolutely safe but the exchanges that are working in India are working according to government norms, following the same banking procedures as banks.

If government bans the crypto you will not lose the money in any situation.

Though RBI (Reserve Bank of India) has been issuing warnings asking investors to be cautious while dealing with cryptocurrencies (including bitcoin), there has been no clear communication about Bitcoin trading being illegal.

You would like to read: Indian stock market is worthy to invest

On the contrary, recently the IT department has indicated that profits from crypto trading will be taxable under the IT laws, and also conducted surveys (not raids) on the major crypto exchanges across India to verify if there were any tax evasion cases.

Further, if the Indian government wanted to ban cryptos, it would have done so long ago. Instead, the government took a wait and see approach, so India as an economy does not lose out on the opportunities arising from the cryptocurrency rally.

Bitcoin trading in India became popular

Many people in India have started buying and selling cryptocurrencies, a digital currency where encryption techniques are used to regulate the generation of units and verify the transfer of funds. These operate independently of a central bank. India has over one million Bitcoin users; the country accounts for almost 10 percent of the volume of trades in the world, according to some sources. Per a recent report by PHDCCI, combined trading volume in India could be in the range of Rs 200-250 crore per month.

In India, if we talk about Bitcoins, there is a no such law which prohibits the bitcoin mining and use of various cryptocurrencies in an easy and secure way. For many years bitcoin is already in use in India. Once mining is done one can easily send and receive bitcoins through a wallet without any third party involvement.

 

And more, you can buy Bitcoin online in India using bank transfer, debit card or internet banking. India has quite a few exchanges where you can buy and sell Bitcoin. Speaking honestly, bitcoins used to not be easily available in India and Indians can’t register or buy from the major exchanges like Coinbase hence there used to be a 7-12% markup on all the exchanges. But there are many other exchange platforms in India like Zebpay, Coinsecure, Unocoin or Koinex. Also, you can use a site called Bitcoin rates to compare the prices across the Indian exchanges above when you are buying or selling Bitcoin.

How to trade in Indian stock market and win in the markets?

In India, is a popular and direct purchase.

What does it mean? Instead of buying from an exchange you can buy Bitcoin in India from someone else and pay them directly. The main factor when it comes to buying bitcoin this way is the issue of trust.

If you are buying Bitcoin from your friend who already has them, it wouldn’t be that big of an issue, but take extreme care if you are buying from an individual especially over the internet. The seller will demand the payment first and you would ask for the transfer of Bitcoin. Services like escrow could be useful here.

And how you buy bitcoins in India, I would like to read your comment.

Who are the most successful investors in India?

Share your experience with others.

It can be helpful to all.