krn

[krn @01krn01]

@policybazaar #policybazaar pw80638 thanks for the help to resolve the issue.

[CA Sonu Jain (Crypto Tax Expert) @TheWeb3CA]

#reducecryptotax India 🇮🇳

What is your request to Finance minister on Crypto Tax? 🧐⁉️

✅ My Request on behalf of the Whole Crypto Ecosystem ⚡️✨

1. Crypto Tax at same Tax rate as Stocks! (15% for Short term & 10% for Long term) 💯✅

2. Loss setoff & Cary forward ✅

3. ZERO TDS, instead use SFT like stock exchanges 🚀😃

4. Special Tax exemption for setting up new Mining ⛏️ / Validator 💻 companies in India 🇮🇳

5. Banking access to Crypto exchanges 🙏🏻 💰

6. NFT Art 🖼️ sold by 🇮🇳 Artists should NOT be included in VDA. It should be considered as normal business Income.

7. Detailed regulation on “separation of customer funds” for all exchanges serving 🇮🇳 users 🥇

Please do add your thoughts below & let me know if I missed any!

[Pushpendra Singh @pushpendrakum]

We request finance ministry to change current crypto tax rules :

1. Flat 30% Tax
2. 1% TDS
3. No loss setoff
4. Cost of acquisition not defined.

Community Proposed:

1. Tax should be in slabs
2. No tds / 0.01% TDS
3. Loss setoff

#reducecryptotax

[Pushpendra Singh @pushpendrakum]

🚀🚀 Here’s my request to the Finance Minister on Current Crypto Tax:

✅ Equalize Crypto Tax with Stocks! (15% for Short term & 10% for Long term)

✅ Allow Loss Setoff & Carry Forward ✅

✅ Remove 1% TDS, opt for SFT like stock exchanges

✅ Provide Tax Exemption for new Mining ⛏️ / Validator 💻 companies in India 🇮🇳

✅ Allow UPi access on deposit

#reducecryptotax

What am I missing?

[Leshka.eth ⛩ @leshka_eth]

10 days left until the $BTC halving.

BRC-20 and BTCfi narratives has huge 100x potential after Bitcoin surge.

$BTC has $1.4T MC. Imagine how big DeFi projects on Bitcoin can be.

Here's why I'm bullish on BTCfi + 10 tokens from my watchlist 🧵👇

[Increasity @Increasity]

This 100x gem is $SPCT (Spectra Chain)

Spectra is a new #bitcoin layer 2 blockchain. Basically, they make $BTC scalable.
(Another #100x is $HDN, which I mentioned in the past, both projects has HUGE potential.)

Their biggest competitor is $STX which at the same marketcap is a 300x gain.

I think we can easily get to 3B+ market cap by next year. They have alot of updates coming up, such as their bridge, swap platform & much more.

Telegram: https://t.co/do7Wu6lsfU
Website: https://t.co/KoZMQyn0fb
Chart: https://t.co/7C82ELbk25

FOLLOW ME IF YOU WANT TO MAKE BANK! 😎

[Oculus @Oculus_Crypto]

The team always planned to reissue the ERC-20 version of $RIO.

The messaging today was not great.

So let me tell you where my head is👇

I think the message was supposed to be a "heads up" not an "urgent call to action".

At some point ERC-20 $RIO will be changing and we await timelines and a plan from the team.

This could be a 1:1 drop OR it could be a complete requirement for all to cross chain swap.

Time will tell.

As we don't know, I would encourage people to do this:

1. Stop panicking, your tokens are safe.

2. Calmly explore the Cross Chain Swap Function (I posted a guide recently).

3. And stop panicking some more.

The lights are not about to go out on ERC-20 $RIO.

I'm sure the team will provide appropriate and fair warning of the transition and communicate their plan.

And the community will be here to support the team and others with this.

Right. It is after midnight here.

I hope that helps and the quickly put together Cross Chain Swap Guide.

Oculus 🙏

[Metaquant @QuantMeta]

80% of profits are made in the last 20% of the cycle.

Learn how to recognize an alteason and make the most out of it.

What triggers an altseason is not the percentage return of $BTC but its wealth effect. And since September 2023, Bitcoin's market cap has grown by $941 billion.

Almost 1 trillion dollars.

• $1 trillion is roughly the size of the entire economy of Saudi Arabia, Netherlands, or Switzerland.
• $1 trillion is 2.89% of United States national debt.
• $1 trillion is 2.5% of the S&P500 total market cap.
• $1 trillion is bigger than almost all Sovereign Wealth Funds.

Given that most altcoins are relatively small in size, it will not take much of this wealth to significantly increase their price.

The whole altcoins market cap, excluding ETH and major stablecoins, is currently $588 billion.

So, when will this happen?

Probably, once $IBIT, $FBTC, $ARKB, and all other Bitcoin ETFs are at 100%+ from their launch price.

Rarely in the past tradFi investors had the opportunity to double their investment in a matter of a few months.

Bitcoin's big gains will boost their ego and confidence, pushing them to start exploring other coins. It's like making money in big companies and then taking a chance on smaller startups.

• Wealth Effect - As people experience gains in their wealth, they may feel more financially secure and confident. This increased sense of wealth can lead to a willingness to take on more risk and pursue higher returns.

• Overconfidence Bias - As investors experience success in one area of the market, they may become overconfident in their abilities to predict future market movements or identify lucrative investment opportunities.

• Recency Bias - If an investor has recently experienced significant gains, they may extrapolate this success to other areas of the market or investment opportunities without fully considering the inherent risks or differences in asset classes.

Whether it's the wealth effect, these biases, or all of them, we'll soon see a flywheel bigger than what we experienced in the previous cycles.

The percentage increase might be smaller this cycle, but the dollar scale is exponentially higher.

It took 57 days for the ETFs to be up 50% from launch. At $93,000, day-1 buyers will be up 100%.

At $72,900 and $97,100, the huge inflows between the 8th and 16th of February ($7.16 billion) will be up respectively 50% and 100%

At $85,700 and $114,600, those who entered between the 26th and 28th of February ($1.77 billion of inflows) will be up 50% and 100%.

It's good to keep them as a reference because this is what wealth effect is which leads to more risk taking.

What we need to keep an eye on are CEX inflows/outflows. Since 11 January, these were the inflows of the three most utilized CEXs:

• OKX - $1 billion of inflows
• Robinhood - $263 million of inflows
• Binance - $247 million of inflows

— Data from Defillama —

In the meantime, the cumulative inflow for ETFs reached $10+ billion.

It's clear that ETFs are the new preferred way to buy and hold $BTC.

On the other hand, no ETFs exist for altcoins (it can change). CEXs first and DeFi afterward are the only ways to get exposure to them.

CEXs inflows increasing = investors looking to buy altcoins.

Another way to look at it is by comparing the growth of stablecoins market cap and TOTAL2.

April 2021 - April 2022

• Stablecoins Market Cap: +$125 billion
• TOTAL2 Market Cap: +$430 billion

October 2023 - March 2024

• Stablecoins Market Cap: +$21 billion
• TOTAL2 Market Cap: +$707 billion

Money isn't entering the market as in the previous years.

Is this cycle different?

No. Simply, there is a step more to enter the market.

We passed from

CEXs → DEXs

to

ETFs → CEXs → DEXs

But, this additional step will push into CEXs hundreds of billions of inflows.

It only requires some patience.

Where are we heading?

If we have the same patterns as the previous cycle, we'll see a ~38% dominance for alts (excluding BTC - ETH - USDT - USDC - DAI) at the top.

With an overall $7.8 trillion crypto market cap, the market cap for alts would be around $2.96 trillion.

A 5.1x from where we stand right now.

The final stages will come when flows into CEXs/DeFi are at par or even higher than ETF ones.

'Impatience with actions, patience with results'
- Naval.

[Wise Advice @wiseadvicesumit]

GIVEAWAY ALERT 🚨 🚨

If BTC Hits $69,000 By Tomorrow, I'll Give $69 Each To 10 Random People

To Qualify, You Need To 👇

- Like This Tweet

- Repost It

- Follow @wiseadvicesumit and @moneygurusumit

[krn @01krn01]

Do you remember when you joined X? I do! #MyXAnniversary

[Sumit Kapoor @moneygurusumit]

Happy Sunday, Wise Advice Angels!

It's time for day 3 of the 7-day giveaway, folks! 🤑

Drop down your BEP-20 Wallet below and I will handpick a winner!

To be eligible, make sure to;

➡️ Follow @moneygurusumit and @wiseadvicesumit
➡️ Like and Repost this tweet
➡️ Comment your BEP-20 Wallet below

The winner will be announced in 24 hours!

All the best everyone! ❤️

[krn @01krn01]

@moneygurusumit @wiseadvicesumit 0x3d4F4376bB626bf0a24930108DD52A3104e94f49

Thanks Sumit bhai.

[Crypto Aman @cryptoamanclub]

Reduce 30% Tax
Reduce 1% TDS

India should reduce taxes on #Crypto because crypto is a technology not gambling India🇮🇳 should not treat crypto like a gaming.

Support 🙏 community like and retweet.
#reducecryptotax

[Pushpendra Singh @pushpendrakum]

Almost every influencer is talking about 30% tax and 1% tds.

I hope Indian exchange will also support this trend 👇
#reducecryptotax

[Open4profit @open4profit]

Today Last day of 2023.
How was your 2023 in #crypto? &
What's your New Year's Resolutions For 2024?
Answer in comment &
Like + Quote-RT Tag 3 Friends along with #reducecryptotax Follow @ImZiaulHaque @open4profit
24 Lucky Users 🦸🏻‍♂️ will be 🎁 rewarded 💰 50 USDT.
Plus Trading Series for you all at ZERO cost + #Altcoins Bag for 2024.🎆

[Ajay Kashyap @EverythingAjay]

#reducecryptotax

[Keyur Rohit @CryptoKingKeyur]

🇮🇳 #reducecryptotax is now trending in India 🔥

[Budhil Vyas @BudhilVyas]

#reducecryptotax

🚨 ATTENTION 🇮🇳 Crypto Community! 🚨

The Indian government's 30% tax on #Crypto and 1% TDS on transactions is causing distress among Indian investors. We need a change! 📢

1️⃣ The 1% TDS on transactions is drying up liquidity. We urge the government to reconsider this. Lowering it could boost trading and benefit the crypto ecosystem.

2️⃣ The inability to set off losses is another concern. Allowing investors to offset losses could encourage more participation in the crypto market.

3️⃣ The government's view on #crypto has been cautious but open to exploration. We hope this openness extends to revising the tax structure.

Join us in our campaign to #ReduceCryptoTax and let's make crypto more accessible and fair for everyone in India! 🇮🇳🚀

Retweet this tweet and comment with #reducecryptotax to spread the word!

[Crypto Aman @cryptoamanclub]

#reducecryptotax TRENDING #1 IN INDIA