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  1. Both NIFM and IIT Delhi are premier central government institutions. The fact they have singled out Ripple (company) against international payment TRANSFORMATION (I like how they used this word there) is certainly a good sign. This is quite in line with the Minister of Finance' stand the other day that they want to look into use of technology in payment transfers etc. Singling out ripple in a conference hosted in these institutions would give XRP lot of visibility to the folks in the government. Certainly a welcome development.
  2. Great post OP. Makes things crystal clear for every new investors apprehensive of taking the plunge into XRP
  3. I am talking about the difference in buying and selling price. For example, at the moment, I see I need to spent INR 65 to buy 1 XRP from zebpay. However, if I sell 1 XRP I get only INR 64. Which means, it work more like a market place than an exchange. This is the case with other coins also.. Whereas, you go to any other proper exchanges in India like Koinex, coindelta and coinsecure. You can see there will only be a single price for any given coin. Certainly the price for any coin at any time would be determined by the demand and supply in that particular exchange. In coinex, for example, at the moment, I see the price as 64.5. I can either buy or sell at the same price. In zebpay the selling price is ALWAYS less than buying price for any given time point. I have seen some times for BTC the difference used to be to the tune of INR 30K-40K when BTC price was around INR 130K-140K a month and half back..
  4. No.. it is really not an exchange. It acts as a middle man.. more like a market place. that is the reason why their selling price and buying price are so vastly different. They as a middle man tend to make profit from that difference. Whereas, in a real exchange you should be able to buy and sell it back immediately at the same price if you so wish. There is no doubt Zebpay is the largest bitcoin trading platform in India as they were one of the first. But, today there are many other real exchanges in India including koinex and coindelta which allows direct INR(indian fiat)/XRP pairing. However, their user base is relatively lower than Zebpay at the moment, although catching up pretty fast.
  5. But, zebpay is tecnically not an exchange. Its more like a middle man and, as a result, more often than not, there is very high spread between buying and selling price. On the other hand Koinex is a standard exchange and you can buy and sell xrp directly with INR (Indian fiat). There are also other exchanges like Coindelta in India which also offers similar method to buy XRP (simply pair it with INR itself). No need of purchasing BTC or ETH in between. Zebpay use to have only BTC till very recently. It is because of the competition from Koinex, Coindelta etc. they are forced to add XRP now. But, I think, as a exchange they still fall short.
  6. I agree that crypto/digital asset is the right terminology and one that allays the fears of governments and authorities. The recent statements by Govt. of India also made it explicit that these are digital assets and not currencies and currencies, by definition, need to be legal tender, which cryptos are not.
  7. This is because in India, we have an experienced lawyer (with no background in econ/finance) as FM. And more over, the elections are around the corner and it is the need of the time to use such language in order to appear as if they are against all kinds of corruption (implicitly meaning that all those engaging in cryptos are doing so either to evade taxes or to launder money). I am 100% certain that there will not be a ban on crypto in India ever. But certainly, his statements during the budget speech generated lot of knee-jerk reactions from the media most of whom are equally uninformed about cryptos. Most popular crypto exchanges in India are already in compliance with laws of the nation and do thorough KYC procedures before signing up users. So, in the event of tough regulations, which will happen most likely, several of these exchanges would stand unaffected and would eventually prove better for cryptos in the long run. By the way, good article!
  8. While I agree with your assessment of a possible tax on capital gains from crypto trade, I am dont agree that it will treat crypto similar to share market trading. Govt.'s stated position is that the crypto assets are not legal tender and want to discourage its proliferation. Certainly, they are not going to extend the kind of protection you as an individual customer enjoys while trading in regulated stock markets, to trading cryptos. For example, let us say, a certain crypto exchange becomes bankrupt or run away with your money, the govt. or the system may not protect you.
  9. There is no ban. This is what he said verbatim yesterday during his annual budget speech. Finance Minister Arun Jaitley said “Distributed Ledger System on the Blockchain technology allows organisation of any change of records or transactions without the need of any internmediateries. The Government does not consider Cryptocurrencies as Legal Tender or Coin and will take all measures to eliminate the use of these Crypto Assets in Financing Illegitimate Activities or a Part of the Payment System. The Government will explore use of Blockchain technology proactively for assuring in Digital Economy.” http://www.crypto-news.in/featured/no-ban-crypto-finance-minister-arun-jaitley-reiterates-government-stance/
  10. I see that most media coverage on FM's statement today are blown out of proportion. This has been the stand by Govt. of India for a very long time, years in fact. There is nothing new he has said today in his budget speech as far as cryptos are concerned.
  11. Yeah, but that USD backing is totally unbelievable.. They even ended their relationship with the auditing firm recently.. which means, there is no transparency or audit happening now to verify if 1USD is indeed kept as reserves for every USDT that is printed.. they keep printing in millions almost every other day...
  12. Why is that? Why do people buy tether in exchange for fiat when they keep printing tether like this? How can they dictate the value of USDT to be equivalent to 1 USD? Why should people accept it as such? This has been my doubt all along. Can someone clarify?
  13. I agree with the real world use cases for some of the alt coins including XRP. However, as long as BTC is the main pairing crypto for most alt coins and until direct fiat pairing comes standard for most cryptos in most exchanges, any collapse in BTC will inevitably pull the other altcoins along with it. Also, not to forget that, many of the new users buying into cryptos are doing so simply because of its perceived speculative value and not because they believe it has some intrinsic value to offer. So, I guess, if and when BTC falls either because of USDT (tether) scam or any other bubble, I guess all others including XRP will also fall significantly. In the very long run, the cryptos with real intrisic value would rise and certainly XRP will be one of them.
  14. https://www.marketwatch.com/story/bitcoin-and-blockchains-broken-promises-2018-01-26 Here is a take by Nouriel Roubini, appeared in a very respectable academic blog, project-syndicate. This echos the same sentiments as Prof. Krugman.
  15. Now you know how good were the ratings anyways
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