Government on crypto currencies

Government - "You could loose all your money"
Government Again - "You could loose all your money"
Government in loop- "You could loose all your money"

News - "Government planning to ban crypto currencies"

-Market crashed

Government - "Told Ya"

@Floydian Holy Tit

Modi ?

@Floydian haha

Jio coin is scam

you were in coindelta group as modi ?

My username was "Arun jetley"

were you not confirming my telegram username, when you wrote arun jetley ?

@irene just like banks ?

you dont see people buy $1.5 billion stocks without paying money .... or without anyone knowing ... do you ?

1. Cryptocurrency & blockchains are sometimes a scam, sometimes brilliant innovations.

2. The technology is moving fast. 99% of coins will fail. The other 1% will still go through many iterations and splits. Even the successful coins might have rough patches where lots of assets are lost due to bugs, hacks and fees.

3. Don't invest for profit. Invest if you believe in the concept and fully understand it. Buy some Bitcoin or whatever for fun or for playing around with, get Ether or Lisk or whatever if you are want to write apps for it — not to get rich.

4. Crypto in its current state is massively overvalued. Crypto in its future potential could be revolutionary. Crypto will not be ready for the public for another decade at least.

5. You would not blindly accept homebrewed unaudited cryptographic algorithms in your own projects. Don't trust them in blockchain projects either. "Whitepaper" is just a word for "I can copy paste crypto research and install Adobe InDesign" — they're often filled with unexplained or even nonsensical unacademic neologisms.

6. ICO is just a word for kickstarter donation. It's not a share or bond. If the company builds an open source project, you have read the code, you understand the code (congratulations you're pretty a smart dev) and think the project deserves a donation, go ahead, donate. Consider it lost money.

7. Blockchains will revolutionize land ownership registration, the energy market, the housing market, etc — but most of these blockchains will be developed industrially. Adoption is key, you can buy some coin which promises to streamline microtransactions between solar panels and electrical devices... but your energy provider will develop their own competing system. You might benefit from lower overhead costs on your electricity bills, but the ICO you bought in to will be utterly worthless.

“Lose”

The word is “lose”

“Loose” is the opposite of “tight”

I appreciate English may not be your first language so I don’t mean any disrespect, however this one word seems to get absolutely everybody, even English teachers, and it is a large pet hate of mine.

Thanks for correcting. :)

I am terrible with spellings. Even though you corrected me, chances are high that i will be repeating the same mistake

@jalebiBhai You better make the same mistake once or twice more than to continue living your life thinking it's correct

@irene enjoy the .5% return from your savings account.

I haven't seen any market crash lately, did I miss the news? The only people for whom the market has crashed are the "investors" who bought at peak historical prices. They bear no weight on the matter.

Scams are everywhere, do not confuse them with the tools they exploit. Cryptocurrencies have a lot of potential, and it's up to us to make them shine

@jeeper stop thinking like a speculator. They are not an investment tool

@endor i hate these day trading assholes

@jeeper 0.1% or less here.

And with inflation being significantly higher, any money sitting idly in a savings account decreases in value. Savings accounts are entirely pointless.

@irene literally every bank here. lol

In india, a jweller named Nirav Modi got loan of over 1.7 billion dollars, by doing fraud. Bank didnt even get to know about it for years

@irene hey my gains in my ira balance out my coin losses so we are basically in the same boat I guess. However I think coins are going to be a legit form of wealth transfer. They definitely got over valued but there is a potential for long term growth

@Root it’s hard to get even CD’s to best inflation these days. Unfortunately safe investments are hardly investments anymore

@jeeper No risk, no reward.
Wouldn't have it any other way.

https://sciencedirect.com/science/...
I dont know where to find this full article, but there is no bank that one person can change so hard. In banks I know my hard earned money is covered by someone. So yeah, it would be nice to gain more, but gaining free money I dont have is not worth risking the not free money I have

@hubiruchi this philosophy is fine, even encouraged when you are starting out. However, once you’ve got a solid emergency fund and you have a budget, investing is the only way to make sure your money doesn’t lose value and really the only way to make sure you have enough to retire comfortably.

@jeeper maybe when I will have more experience I will know more, but maybe index linked securities can give you... well securities? Asking for a friend

@hubiruchi your mileage will vary by country but generally you want to invest in an index fund that is a mix of stocks and bonds. Vary your risk with your age. Read reddit.com/r/personalfinance wiki for more detail.

@irene some coins have been frauds, all coins are susceptible to fraudulent practices, but they fill a market niche and will continue to hold value. How much value? We will find out.

@irene coins have a problem with pump and dump schemes but I think they will continue to have value in the long term as there will continue to be demand for anonymous digital transactions

@irene that is literally the problem block chain solved.

@irene anonymous but public

my blood sucking stupid client sent me money through paytm ( wallet ).
Now paytm is asking me 2.75% to withdraw ( $275 per $1000 )

and xrp charges just .15xrp per transaction. Thats around 7.5 cents. Around 7.5 cent to transfer $1000. And exchange charges around $.5 for withdrawal

when bitcoin first dropped below 10k, ethereum was still trading at $1200 ( peak $1400s). Now ethereum is trading below $400

Reason why ethereum was valued so high, was due to ongoing major ICOs, which leads to more transactions and ethereum demand. which is now none.

@irene agreed. Though cryptocurrencies solves every loopholes of fiat money

ever heard of hyperinflation ?

@irene but important

@irene do you know how many fake currency notes exist in economy and how serious are its consequences

in last 100 years, world had seen 55 cases of hyperinflation. You must be aware of "Years of great depression". It destroyed whole german economy

@irene fiat and crypto currencies ... both are going to exist

@irene you said anonymity leads to fraud. Just go through what just happened in indian banking ecosystem recently. Fraud of over 2 billion dollars by known parties got exposed.

Crypto currencies are anonymous but not completely. Everything except the real owner of account is public. Never heard of any fake or fraudulent transaction through crypto currency

@Floydian the only way to buy crypto coins or tokens on exchanges is through banks. So government agencies, can still track the money, forcing local exchanges to reveal wallet addresses and bank account used to fill fiat money

@Floydian Government and central banks are saying they want to promote blockchain but not cryptocurrencies. Thats like saying, they want to make use of tesla's inventions but also kill him

what i understood till date, cryptocurrencies makes the best use of blockchain

@Floydian RBI in india is worrying about cryptocoins, but seems to give no fuck about scams and frauds in almost every major banks. New day, new bank, new fraud.

i liked the way koreans threatened the government.

Ban cryptos and lose your next election

that depends on the nature of your next reply

@Floydian no ... some people wrote a letter stating that a big percentage of koreans invest in crypto. Crypto trading gave them what government failed to provide them. If anything happens to their dreams, they will vote against the government

@irene not even if worlds most honest man lead it

How do you tell someone what they can and can’t accept as payment for things? They just don’t want people escaping the clutches of their worthless national currency while they make it worth less and less through inflation. They want to control the wealth. Fucking assholes. Bureaucrats like these need to hang from the end of a rope. You just don’t fuck with people like this.

@irene there has to be reason why one has to share his money. Government sets up schools, develop roads and lots of things, for which they deserve to ask share of peoples money. But there are lots of space where they dont do a thing and ask for their share of money. First they fucked the crypto market and now want their share of money from earning made through crypto trading.

@irene The Government is corrupt, dishonest, controlled and biased. They can get away by doing wrong, but not you

What german government did after losing first world war, by circulating more money into economy, its people who suffered. And they suffered very badly. After which, they found their trust in hitler, who showed th the government of their dream. But you dont need me to tell you what his government did

@irene probably you need to see, how much of fraud happens in banks and government

@irene not completely logical

@irene taxation is theft. And forcing people to perform services and trade ONLY in a national currency is bullshit. If my community wanted to trade in bottle caps, then god damn it, we should be able to. The government doesn’t own my work or my talent, and I should be able to trade in whatever currency I want.

goverment believes it can stop illegal activities by banning cryptos. By banning cryptos they are just proving their incapabilities.

In my college of 3k students, probably i am the only one who is involved in cryptos. And there are hundreds of students buying drugs and alcohol with fiat.

Government can never catch the one who purchased drugs and alcohol for fiat. Then blaming anonymity of cryptos is completely illogical.

Banning cryptos is not solution. All they need to do is find the dealers

And while sending money abroad, merchant fees are completely justified. But then again, why government has to ask for tax on transaction when the person is paying his/her tax on income

@irene taxation is not theft until and unless government is doing something constructive of your money amd not just wasting it or losing it

a cab Aggregator is paying hefty amount of tax to government, but auto-rikshaws arr openly damaging cabs. Isnt it government's duty to ensure safety of cab drivers

@irene at the end they all directs to a single topic

@irene you have to cross the borders sometimes

@Floydian happy now ? Market is pumping back xD

possible bull run ?

@Floydian crypto

@Floydian like speak asia ?

Sounds like you were given plenty of warning. 🧐

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So sad to see this thread from all the excellent users who have left.

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