I want to set the record clear.

1. Cryptocurrency is a risky investment.

So is equity markets. But crypto is super risky.

2. You don’t have a regulator to go cry for help. If you can’t protect your investment, you’re on your own.

Contd.
3. Crypto isn’t for the faint hearted. The movements in prices are huge and scare the crap out of you sometimes even completely making your investment go to zero.

So please invest what you can afford to lose.

4. Important: Transactions are irreversible.

Once gone, is gone.
Crypto in exchanges is actually crypto that the exchange owes you, it’s not completely yours.

If you want to hold it for a long time, it’s time to invest in a private wallet and learn how to keep it safe.

Again, you’re responsible, no one else is.
The truth about decentralisation is not just that the network is not controlled by a single authority, it is also that you literally have to learn to be safe, no one is protecting you if you make mistakes. Your mistakes will cost you and only you.
If after knowing this, you get into cryptocurrencies, then you can’t cry wolf when

1. You lose money
2. You send wrong amounts to wrong addresses.
3. Crypto exchange got hacked.
4. Anything else.

Remember - You’re on your own.
So then why invest in crypto?

Don’t you like being in control of your money?

Do you like the idea of an deflationary asset?

Maybe you just wanna try and get rich quick.

Whatever your motivation. You’re on your own. Seriously can’t stress this enough.
Now people will tell you, it is unregulated, there is no investor protection, 13 year olds are making and launching coins, who will catch people if they run away with your funds?

But what did I just say?

It is your responsibility.

There is no one to protect you!
So the choice is yours.

You’re right if you invest and you’re right if you don’t invest.

Don’t listen to me or anyone. Decide yourself. Do you want to invest in a regulated entity or unregulated one?

Your decision. Your choice.

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More from @ThatNaimish

7 Jun
About my Roadies audition.

I wanted to participate in the 7th season of Roadies (2009). All auditions for that season were actually online, we had to upload a video answering a couple questions.

I did. I deleted that video 10 years ago!

Contd…
I studied in Davangere and we all constantly watched Roadies 6 on our laptops and for some reason a couple of us thought it might be a good idea to try and audition.

I didn’t get through, my online submission was rejected. However, I got a wild card entry.
Centre Fresh was running a campaign at the time and I had applied via their portal too. So I got “Skip the line” wild card entry. But guess what? I wasn’t allowed to skip the line coz a cigarette smoking produce of MTV thought I was making shit up.

Cont..
Read 8 tweets
15 Sep 20
I am tired of writing a @coincrunchin article after reading shitty articles by Mainstream media. So lets do a thread.

The report: India is bringing a law to ban crypto trading is written by @archchaudhary & Siddhartha Singh.

It has been syndicated to many other news portals.
First of all, I have no disrespect for journalists but the article is written terribly.

1. RBI didn't ban the crypto transactions, you should have atleast read the source that you cited.

2. You don't hyperlink Paxful, WazirX and exchanges. You hyperlink the source of statement.
Imagine saying following company says 450% rise in trade and when you click the hyperlink, you are taken to the following company instead of the research.

This is more like a Bloomberg editorial problem. But the authors have cited sources on other articles very well.
Read 9 tweets
15 Jul 20
Holy Crap, Binance official Twitter handle was hacked.
Okay now CZ's account is hacked!
Gemini is next
Read 30 tweets
15 Jan 20
Guys this is absolutely exclusive. No one has reported this yet. Here's what RBI wrote in its reply to IAMAI after the Supreme Court mandated it to respond again with a point by point reply in August 2019.
The RBI has said it has the sole right to operate currency and credit system in the Country. It has exercised its right (Banking Ban) to secure the monetary stability. It also says, that RBI regulated entities were exposed to "reputational risks" by offering service to exchanges.
RBI cites the example of "Libra" (indirectly) to say that VCs are risk associated and hence the US watchdogs went after Facebook and its plan to launch its own virtual currency.

RBI also says Virtual currencies and crypto-assets are terms that can be used interchangeably
Read 15 tweets
17 Oct 19
TELL THIS TO EVERYONE YOU KNOW IN INDIA:

1. Do not keep more than 1 lakh INR in any Bank Account. As you must know by now, that is the only money you can get back if the Bank goes Bankrupt.
2. Tell them to invest their Cash into something they can hold and control its use. Gold. Silver. Bitcoin.

Bitcoin is very volatile, never invest all your money into one thing. DO NOT PUT ALL EGGS IN ONE BASKET.
3. Tell them to keep some cash at home, in case of emergency. Do not be greedy for the 4-6% interest rates on Savings Account.

50000 INR will fetch 2000 INR interest in One Year. If it is an FD, it will be 4000 INR.

Keeping 50000 Liquid money will help in crisis.
Read 4 tweets

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