follow us on twitter . like us on facebook . follow us on instagram . subscribe to our youtube channel . announcements on telegram channel . ask urgent question ONLY . Subscribe to our reddit . Altcoins Talks Shop Shop


This is an Ad. Advertised sites are not endorsement by our Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise Here Ads bidding Bidding Open

Show Posts

This section allows you to view all posts made by this member. Note that you can only see posts made in areas you currently have access to.


Topics - UKprod

Pages: [1]
1
Marketplace & Bitcoin Services / [NFT] Buddha in the Space - NFT for auction starting from $13
« on: May 06, 2021, 06:56:03 PM »
Hi everyone, this is in relation to sale of NFT of a digital art which was derived out of 2 physical paintings, with the permission and full consent of the original painter who is a budding artist. This has been listed on AtomicHub.io and can be found with this link: https://wax.atomichub.io/market/auction/212974

I have provided other details of the NFT and the auction below.

Description: This painting signifies the message of peace that Buddha had delivered, resonating through the space. This is a digitized combination of the other 2 paintings in this collection. This is 1 out of 10 NFTs of this digitized art piece.
Starting bid: 50 WAX tokens (Currently $13)
Buy it now: 150 WAX tokens (Currently $39) subject to not receiving bids higher than this amount and receiving offer by May 8, 2021,  5 PM UTC.
End date and time: May 13, 2021 at 12 PM UTC
Payment methods accepted: WAX tokens on AtomicHub marketplace only. This would provide safety of funds and NFT for me as a seller and you as a buyer.

In case you would want to hold this as a unique NFT with no copies, we can discuss the terms of this arrangement and I could either burn remaining copies of this NFT or sell you all of the copies of this art for a fixed price.

In case you need any additional information, please feel free to reply to this thread or send me a message.

2
Legality & Taxation of Cryptos / How to win a Writ petition against ban on crypto
« on: May 01, 2021, 09:58:04 AM »
Hi everyone! This is my post on how crypto users can challenge a ban on crypto imposed by their government and obtain a favorable result against the same. I have kept this post to cover maximum number of jurisdictions, so that it helps crypto communities across the globe should their government impose an outright ban on crypto. Further, I kept legal jargons to the minimum, for ease of reading.

Legal ground to be taken:
  • The substance of this legal ground relies on the "Right to constitutional remedies" and "Freedom to carry out trade or practice a profession" being provided in the constitution. Hence, kindly verify if your country provides these rights. Most democratic countries provide these rights.
  • Under the freedom to carry out trade or profession, any person can carry a trade/profession if it does not pose a threat to the government or other people. If the trade/profession has the potential to earn revenue, carrying out such trade should be allowed with full freedom. Now when it comes to trade/profession, the crypto economy has been supporting a number of lives that are solely/largely dependent upon crypto income. In addition to the core crypto participants such as miners, traders, etc., crypto is widely used by digital artists selling NFT, bloggers, musicians, etc. Hence, ban on crypto is equivalent of restricting the freedom to carry out trade and profession.
  • Once it is established that use of crypto is one of the basic fundamental rights, the next step would be to invoke right to constitutional remedies whereby a person can file a petition before a court either as a writ petition or public interest litigation/petition (as applicable in your country) for violation of their fundamental rights by the government through such ban on crypto. In such cases, if the person petitioning is able to prove before the court that ban on crypto is essentially violating the constitutional rights, then the court would order a rollback of such ban


Fact specific ground to be taken:
  • India: The Indian inter-ministerial committee in its report on cryptocurrencies has failed to identify various use cases and functions of crypto such as NFTs on which digital art thrives, charity such as the www.cryptorelief.in which is working towards oxygen supply during the ongoing COVID-19 crisis etc. Hence, it would be essential to highlight the ignorance of the legislature while passing the law, which would provide the court with a valid reason to provide relief in this regard.


Possible arguments by government and how to counter those:
  • Threat to domestic currency and economics: Governments have always worried about crypto replacing their sovereign currency. Further, another area of concern for the governments is that if crypto is used as legal tender, it will face a difficulty in regulating the flow of currency, interest rates etc. In such cases, the governments are welcome to ban the 'use of crypto as legal tender', but not outright ban the crypto. In logical terms this can be explained as 'killing with a knife' has to be made illegal and merely 'using a knife' cannot be made illegal since it can be used for a lot of productive purposes. Thereafter, the government can look into classifying crypto as an asset and regulate exchange of assets.
  • Threat to foreign exchange reserves: Most governments would perceive a risk of loosing their foreign exchange reserves due to investments flowing into crypto and thereby creating decrease in value of their own currency. However, this can be countered by providing details of how people stand to gain by carrying out their trade and profession through crypto and how it would in reality be a source of earning foreign exchange reserves
  • Used for illegal activities: Another concern raised by governments, is that crypto is used for illegal activities such as extortion, kidnapping, ransomwares, etc. However, the argument to be taken here is that use of crypto for such activities can continue even if cryptocurrencies are banned in a country and a ban is likely not able to stop it, since there are various means of carrying out such activities. Further, similar to the logic explained above, "use of crypto in illegal activities" needs to be banned and not mere "use of crypto".
  • Can be used for money laundering: One more concern of the government is that it can be used easily for money laundering, it must be noted that flow of currencies from one wallet to another can be traced easily in most blockchains. Hence, the flow of money can be traced in most cases at one point or another. Irrespective of this, where a person is found to be laundering money using cryptocurrencies, they need to be tried under the Money Laundering Act, rather than banning cryptocurrencies. The governments have a wrong notion that banning cryptocurrencies would stop money laundering through cryptocurrencies. For someone who is rogue enough to launder money, would a simple ban on cryptocurrencies stop them? Hence, banning crypto currencies is not the solution.

I hope this is useful. Do let me know in case you come across any other additional legal grounds that can be taken. I will be happy to incorporate the same in this post so that this can be used as a single reference point by everyone.

Further, do let me know the fact specific grounds that can be taken for your country and I would be pleased to incorporate it into my post. Thank you.

3
Cryptocurrency Trading / 6 reasons why you should buy Bitcoin right now (at USD 50K-53K)
« on: April 27, 2021, 11:36:10 AM »
The price of Bitcoin is hovering around USD 52K at the time of writing this article. In the last 24 hours, Bitcoin hit a bottom of USD 47K and has recovered since. Now you might be wondering if it is the right time to invest in Bitcoin. Here are the 6 reasons why you should:

1. Decreasing Mempool congestion: The current mempool congestion is said to be one of the reasons for the current fall in Bitcoin prices. While this might sound ridiculous, you can check and compare the charts of Bitcoin prices vs. the chart of Mempool Transaction count chart. While this congestion was at its peak between Apr 18 to Apr 24, it has since reduced considerably and we are already seeing Bitcoin price recover. When the mempool congestion is minimum we are likely to see the Bitcoin price rise.

2. Support price: The support price of Bitcoin has been set to around USD 48K-USD 50K by multiple exchanges and researchers. What this means is that when Bitcoin hits these price levels, people will be resistant to sell and large scale buying is expected. What largescale buying means is that the price of Bitcoin will shoot back up again.

3. Acceptance of Bitcoins by Corporations: Given that several large organizations are coming forward to accept Bitcoins as valid mode of payment, it is likely that Bitcoin adoption increases many folds. This is due to the reason that once these large corporation earn in bitcoin, to pay their suppliers, vendors or employees, they would naturally have to use Bitcoins. This increase in usage by itself would drive the demand for Bitcoin high. Further, on seeing large corporations accepting bitcoins, smaller organizations are likely to follow suit and same cycle would be followed by them.

4. Scarcity: While it is needless to say that bitcoin has always had the concept that it would remain scarce and that issue of new blocks would reduce over time, in the recent times, the amount of people engaging in Bitcoin mining has increased to such levels that miners get a very small portion of the mined Bitcoin. In this regard, one major pattern that I have observed is that every time that block rewards get halved the Bitcoin price slingshots to an all time high. This is is clearly visible with the Bitcoin price rising to an all time high in 2017 (1 year after halving in 2016) and now in 2021 (1 year after halving in 2020). Considering the above, I believe that bitcoin is likely to explode by the end of 2021 and break the current all time high again.

5. Increased HODLing: One more reason that I would consider is that there is an increased number of people who get attracted to the technology and concept of Bitcoin and therefore end up HODLing Bitcoin (like me) and would love to see their Bitcoin rise in value over the years rather than selling and making a quick buck. This would propel Bitcoin to higher prices without crashing.

6. Lost wallets: Around 20% of the Bitcoins that have been mined are locked in wallets. As time passes we could see a lot of people actually forgetting where they have kept the private key or seed phrase for their wallets (But ensure you keep them safe :P). This is eventually going to cause decreased supply in Bitcoin over the years and help maintain the increase in Bitcoin prices.

While the above is my analysis of why Bitcoin should be purchased, please carry out your own analysis before you invest in Bitcoin. Further, while I have highlighted the reasons as to why Bitcoin needs to be purchased now, you should also consider various risks, legal/tax issues, etc. before you invest in Bitcoin.

Would be happy to hear your thoughts on this. Thank you.

Pages: [1]
ETH & ERC20 Tokens Donations: 0x2143F7146F0AadC0F9d85ea98F23273Da0e002Ab
BNB & BEP20 Tokens Donations: 0xcbDAB774B5659cB905d4db5487F9e2057b96147F
BTC Donations: bc1qjf99wr3dz9jn9fr43q28x0r50zeyxewcq8swng
BTC Tips for Moderators: 1Pz1S3d4Aiq7QE4m3MmuoUPEvKaAYbZRoG
Powered by SMFPacks Social Login Mod