Team-BHP
(
https://www.team-bhp.com/forum/)
Quote:
Originally Posted by m8002?
(Post 5242570)
Now that Bitcoin has crashed by 50% and many other Cryptos even more, what the take on it? Its a short term blip ( and a buying opportunity) ?
Are people who got in at 60K, now averaging at the current prices? Or waiting for further corrections?
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Since May 2021, I've did some buying today. Prices have crashed a lot.
Nobody can tell it's a good decision or bad. Indian stock markets have crashed a lot too. 3500 approx in 5 days negated from sensex. Did some buying there too.
Should have bought cryptos 2 days back but had not time then. It will be great to hear what other fellows are doing.
Just found an awesome video for newbies (like me) to understand how the whole NFT system works, advantages and disadvantages of it-
https://youtu.be/0pWTRsztTtY
Excerpts:
"Cryptocurrencies and NFTs will be taxed at 30% at the time of purchase. It is a transaction tax and not on capital gains".
"Because they are taxed does not mean they will be legal. While the government takes time to decide whether they are legal or not, it doesn't want to lose tax revenue and so has taxed them".
" They will never be legal tender in India. A criminal act will come against any kind of payments for goods or services by way of cryptocurrency. All payment gateways will be watched and tracked."
"A separate column will be introduced for digital virtual assets while filing IT returns. Any capital gains/losses will not be allowed to be set off, even against assets of the same classs."
https://youtu.be/URqkTygPJYc
Quote:
Originally Posted by Samurai
(Post 5251201)
[url]
If someone buys the NFT of a wedding, what does even mean?
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To them they just created a nft for a picture of engagement ring and may hold emotional value that can be validated on a blockchain. Blockchain wedding and digital priest are marketing fluff. None monetary or resale value.
Interesting + Unusual + Unexpected use case for Bitcoin/other cryptocurrencies:
Crypto crowdfunding: How Ukraine is building its defence to fight Russia https://www.cnbctv18.com/cryptocurre...a-12425012.htm Quote:
“Cryptocurrency is increasingly being used to crowdfund war, with the tacit approval of governments,” CNBC quoted Elliptic’s Chief Scientist Tom Robinson as saying.
Activists have deployed the funds to equip the Ukrainian army with equipment, medical supplies and drones. They are also deploying funds to develop a facial recognition app that will help identify a Russian mercenary or spy.
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I bet this is more than what most people understand about NFT. Got a new understanding of blockchain too. :D Next time a telemarketer calls me, I am going to blockchain him. BTW, at the end of video there is a helpline if you need further help.
https://youtu.be/cJzNiFLyw8k
Quote:
Originally Posted by Samurai
(Post 5254858)
I bet this is more than what most people understand about NFT. Got a new understanding of blockchain too. :D Next time a telemarketer calls me, I am going to blockchain him. BTW, at the end of video there is a helpline if you need further help. https://youtu.be/cJzNiFLyw8k
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Methinks that the developed world is gearing up for complete transition to metaverse.
(I always imagined The Matrix is a definite possibility in future).
NFTs might have their "value" in a metaverse - where your virtual self may wish to own things - and NFTs will help certify the authenticity of that ownership (without resorting to a central authority).
Quote:
Originally Posted by alpha1
(Post 5263878)
Methinks that the developed world is gearing up for complete transition to metaverse.
(I always imagined The Matrix is a definite possibility in future).
NFTs might have their "value" in a metaverse - where your virtual self may wish to own things - and NFTs will help certify the authenticity of that ownership (without resorting to a central authority).
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As per TCS it is approx 3 to 5 years away
https://m.youtube.com/watch?v=0kHJw_ZQmbc
Pretty surreal, someone tried to pitch crypto to me while waiting for a train on a platform at night. A man in his 50s (probably) came up to me while I was waiting for a train to arrive, started off by asking about which platform the train was expected and how he could get a connection from his destination to another stop. After that, he brought up crypto and asked if I knew about it and had any investments. When I said no, he wanted to know why and if it was because the government had said it was illegal. It WAS legal he insisted. He mentioned that he was just returning after a meeting with several of his "crypto clients". By this time was I getting "Amway/ULIP salesman" vibes, so mumbled something and moved away!
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