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submitted by /u/Special_Yam_1174 [link] [comments] |
Tuesday, 29 March 2022
Indian Couple Dupes Bitcoin Investor Promising Higher Returns. Scammers keep paint BTC as bad.
The victim had given $19,000 to the accused for investment in bitcoin but never got it back
The lack of knowledge among common investors about cryptocurrencies and how to safely invest in them is resulting in a growing number of frauds.
In a recent example, the Crime Investigation Department (CID) of Ahmedabad Police in India’s Gujarat province registered a case where the victim was duped of Indian Rupees (Rs.) 22 lakh (approximately $27,000).
As per the First Information Report (FIR) lodged with the police, Harshad Patel was introduced by his friend and business partner Kamlesh Patel to a couple to help him invest in bitcoin in 2017.
The couple, Alpesh Suhagia and his wife Bharti Suhagia tried to convince Harshad to invest in BTC, saying its price had soared to Rs. 70,000 in 2017 from Rs. 10 in 2009. This prompted Harshad to give Rs 15 lakh (approximately $19,000) to the Suhagia couple to invest in bitcoin on his behalf.
Scammers like this make it difficult for people to trust Bitcoin. I have come across several of them in my time, but I always ignore them. Why not try out jobs in bitcoin like writing, content creation, instead of scamming or even join companies that are changing the world with Bitcoin like Square and Social Good instead of scamming. Come on now.
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source https://www.reddit.com/r/btc/comments/tqfh2x/indian_couple_dupes_bitcoin_investor_promising/
Inflationary vs deflationary monetary policies
I grew up studying Keynesian economics at school, for me, inflationary economics is a core theory that I’ve never questioned. The thinking goes like this:
Moderate inflation is needed so that people are incentivised to spend instead of save, more spending creates more jobs, more jobs lead to a better economy and a bigger GDP.
There are many more reasons that are taught in school why moderate inflation is good and the alternative is a disaster. So much that I have never heard of or tried to look into deflationary theories, or Austrian economics.
Recently, I listened to a podcast from Jeff Booth, author of “The Price of Tomorrow” and baffled by a totally different way of thinking:
Technology is deflationary by nature: technology combined with economy of scale mean people produce more stuff for cheaper over time. As human automate more, the logical result is less jobs, not more jobs, or shorter working hours, not longer working hours.
In order to push “more jobs” using an inflationary theory, to go against the natural course of technological advancements, there are two things that must be done: - People must be encouraged to consume more and more, this could lead to consumerism and environmental wreckage - Currency must inflate almost as fast if not faster than the deflationary speed of automation. As only government can print money (inflate a currency), the money printed naturally cause a concentration of power around entities funded by/ benefited from the government. Unless there is close to perfect redistribution of value, the wealth gap gets bigger over time.
🤯 Mind blown
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Russia may accept btc for its oil and gas because of sanctions
Russia might accept bitcoin as payment for its oil and gas exports as Western countries stiffen sanctions.
In a videotaped news conference on Thursday, the chair of Russia's Duma committee on energy said in translated remarks that when it comes to "friendly" countries such as China or Turkey, Russia is willing to be more flexible with payment options.
If this is true, this year alone, we have seen a revolution of the bitcoin space, as more countries and regions are becoming more interested in it. What of the Web3 and advancement of the open source space spearheaded by the likes of UniSwap, Tea, Curve, Compound and so on.
This is amazing.
Chair Pavel Zavalny said that the national fiat currency of the buyer — as well as bitcoin — were being considered as alternative ways to pay for Russia's energy exports.
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source https://www.reddit.com/r/btc/comments/tqfe45/russia_may_accept_btc_for_its_oil_and_gas_because/
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