crypto products.And then, if these are unregulated and can be highly risky, there may be no regulatory recourse for any loss from such transactions.This is your one stop destination, where we get to crypto players and also representatives from the government that we talk about crypto currency.But over coffee suis called coffee and crypto, I’m Arun saying a very warm welcome.We start so with big storeys of the week bye, we have M P as well, joining us for a composition who that is, you’ll get to know will begin with big storeys of the week.Countries Computer Emergency Response Team That search, in, which is overseen by the Ministry of Electronics and Information Technology, has issued a new set of rules stating that exchanges must keep know your customer information that kike and financial transactions of all their customers for five years.These steps are being taken towards compliance and user safety on crypto platforms, although some experts believe that this will increase cost for cup to platforms.Moving ahead was weeks away from their merge, which was going to be a transformative upgrade of its blocked in a serie um to make it faster cheaper and less power hungry, but that has been delayed.
One of the leading, a serum software developer, said it won’t be in June, but likely in the few months after no final date yet.But we’re definitely in the final chapter of POW on a teary um, and that is proof of work, which is not very energy efficient as compared to to the next storey.
Veteran investor Warren Buffett told CNBC that he would not buy all of the world’s big one for even $25 because in his own words, what would I do with it? Because what would I do with it? And I have to sell it back to you one way or another.It isn’t going to do anything.
Hinting at his distrust of the coin, which is not expressed for the first, M P’s expressed such thoughts about between and Cryptocurrency the path as well.Affairs book owner Meta Platforms Inc give an early glimpse off its first physical store with features a floor to ceiling scream for showing off games on its virtual reality headset and rules for testing video calling devices.Just imagine that store, um, you don’t have to imagine you have pictures here, which has been shared by Meta Inc.
The store, set to open on May nine, is located at Metas Main campus in the Silicon Valley town Parliamentary Standing Committee on Finance Met Crypto Players in Bengaluru, one of the M.
P S B J D’s Amar Patnaik tweeted about this, and today he is going to join us for a conversation that is already in the opening.For that, I’ll go to us.
We have with us B.J D’s Amar Pat Nayak, a member of Parliament.
Very warm welcome, sir, of course, of the parliamentary signing Committee on Finance met private crypto players, and we really want to have some details from you.I know it’s a confidential meeting, but what can you tell us about this meeting? No, The Bangalore meeting was one of the field visits of these Standing Committee on Finance and as in every field visit, it is an informal discussion.Nothing is recorded, so so free, willing exercises exercise, which allows the which gives an opportunity to the people who were deposing before the committee to air their views completely, feeling also in that direction.The meeting, which was recently impact yesterday or with the crypt of players.
All those people who were involved in this sector besides other agencies are like the rating agencies and the income tax department.The idea was to we know, carry on the exercise of exploring this phase as to where the Finance Committee would come in also to hear their side of the storey.Why do you think that this as men dis opportunities for the country But at the same time as it was aired in the last meeting, these concerns such have been expressed by non less than the honourable prime minister of India as well as the finance minister of India, and many other players, including the IMF, were also discussed.Right? And since you said you wanted to hear their part of the storey, so is there anything they’re relieved about? Uh let’s say scared about difficult int broadly mentioned each each of these things since this is a constipation which is confidential, so I can’t be sharing everything that was discussed, therefore not is there in the public space already, I think, is well known to all of us.
The concerns by the government of India and Many of us are actually relating to terror finance money laundering issues relating to how it will affect the money supply in the economy because is not regulated by the central bank.The explanation given by the Kanto players is that you know there are mitigating measures which can actually reduce this pastes.
But unfortunately I think these are not much in the public domain.I take this opportunity to advice all those who are in the space to do two things.
Number one to educate a whole plane.All the common man, the policy makers.I I think the parliamentarians, the bureau, everybody about all this indeed equipped toe ecosystem completely.And secondly, Hue also put it in very clear terms as to how they plan to address are the risks are that have been aired by a government of India and many other quarters.
I think these are the two advisers that I would like to give are to the crypto players in the country.Okay, for my next question, Al pick cues from what you said you used towards terror funding and money laundering.Very recently on an international platform, Finance Minister Nirmala Sith are a man had also said that you know these are the biggest risks of crypto currency.What you have to say on that No, I think it’s a very legitimate concern.
And for a sovereign punchy, I think these are very legitimate concerns.It’s not just India.I am sure other countries in the world would also be a facing or assessing similar wrists if they allow the private be no transactions to to happen in their countries.Of the point is that if such kind of risks are there and such guys of transactions are possible, the idea is whether those can be traced number one, whether the possibility of making this transactions more transparent, in which case if there is a default or if there is a translation from regulations, then they can be easily detected and taken to task would be prosecuted of these other things which come up and these are still not very clear is still in Haiti space.I think all over the world is not just in India and therefore there is probably My personal idea is that there has to be a principal waste international order for no understanding this allowing the tote rate and accounting.
The second point is that they will also have to have some kind of no self regulation in which they put in those controls which would mitigate this race.Two largest right? So you yourself are you know, Rajya Sabha MP.You’re active in the space, also part of the Standing Committee on Finance.
And in the past, several stakeholders have raised concern about the tall claims that were being made in some crypto ads.
Has the situation got in any better because government had also alerted these exchanges in the past? So what is your analysis? They claimed by most of this? Players, now that they have regulated themselves, are and they are following the regulations as regards advertisements.
But you know it.Since there are no standards, it’s difficult to say whether what they are saying now is is adequate not to love common investors who are probably not very aware of outing.Pinto operates into investing in in and then knows, maybe suffering lots of for losses later.So I think when the when we talk about the regulation, that regulation should also include these these aspects as well.I think if the players are doing self regulation.
Now it’s better they are making their case stronger.What I think, ultimately the standards of the set by the government as and when the decides to bring in regulation.Okay, so the new Krypton tax regime is an action.There’s a new rule also in place to tackle crypto tax evasion, which is asking exchanges to store customers.Kike for five years, we featured this in a big storeys of the week as well.
You also mentioned regulations.So how are far are we from regulation? So I think, I think, by by making this on imposing this tax, I think the intention of the government is more towards bringing in a regulation instead of a complete ban.Having said so, I think even if there was a ban, the question is whether there is regulatory capacity on the part of our be or say be to enforce such a back.And even if you bring in the regulation in the most structured manner, big question still remain.Whether the regulatory capacity is there, my feeling it’s completely there is completely a regulatory vacuum and regulatory vacuum, not just in the absence of regulation but regulatory capacity vacuum.
It’s, I think, the the regulators so eventuality that the government decides to allow two assets to operate with or as the security.Then the Sebi would be called in to regulate the entire transactions a rental market.So whether these Sebi is currently having that kind of capacity mine are feeling is no.So that’s where I think even the crypto players should invest some of their time and energy to educate and build this capacity in the system so that they will be actually doing good to themselves.It will be a part of the effort, improved the trust factor between the regulator and equipped of players between the citizen who is investing and okay in this year’s budget.Finance minister had also talked about Rupee and of course, he aimed to have it by the end of this financial year.Several experts point our that probably it needs a lot of homework.
It, and probably that’s that will be a long shot to expect to bureau have it within this year.How do you see? Do you see a digital rupee at the end of this financial year? You see, many several countries have already got a central bank is to currency Lafayette currency, and that’s actually responding to to the to the fact that there is leading to the fact of the growing market of of private currencies or digital currencies.So I think it’s a good thing if the Reserve Bank of India and the government of India come out with the CPC as quickly as possible because in my view it would actually provide some kind of stability into the otherwise very unstable and very speculative.A private came to market and secondly, it would also increase the capacity of the regulator to to regulate this.And so if the C P.D.C.Comes in, I think it would be like, you know, being a regulatory sandbox, where the regulator also understands what’s happening, and the private kept of players also understand the impact of or such regulations.
And in in the Pastilles, our space in which it is a fear currency is controlled by the regulator.But in on that would give the signals as to what could go wrong.What are the wrists? Are they overstated, in some cases, understated In some cases, are we seeing much more than what actually is there.So these are the things which will get clarified.
So my view is that the government of India and the Reserve Bank of India’s should come out with the samedi, See, as quickly has passed.Thank you so very much for joining us for this conversation and has said in the opening we have these conversations over a cup of coffee.I’m missing my coffee, so I take a quick break.But after the break, we explain what is day trading in the crypt.A world will also have to guess.Join us will answer all our question will understand day trading in detail.Don’t go anywhere.
Keep watching coffee and the This is probably and so and now comes explainer of the day.And that is what is day trading trading strategy that involves entering and exiting positions on the same trading day.The entire goal of training crypto is to profit off small moves in the market.It also called intraday trading.The town comes from conventional stock market, where it opens only on business days, So dare trading or let’s a day traders don’t leave positions open overnight.
Hence the term, which is trading.But why do it? What are the enlarges? Cryptocurrencies can be volatile, so you know you can make profits.
It’s small.You don’t see a high jump in traditional stock market in value within a single day.
But such jumps are common in the crypt a world, but then there are different trading strategy.Other day trading strategies just discussed three.And then we’ll get on to Argus.So first scalping this day.Trading strategies based lies in increased trading value Trader sometimes enter and exit within minutes, taking small gains along the way.
And then comes our second day trading strategy.That is arbitrage.This means buying coin and one platform and selling it on another, taking advantage of the price difference between the two.But make sure you pick your coin and exchanges carefully in this third one is H F T.That is high frequency trading.
It’s a type of algorithmic trading strategy typically used by quantitative traders, also called quant traders.This involves developing algorithms and creating bots that can quickly enter and exit many positions over a short amount of time.And when we say short amount of time, that milliseconds as well and That is why you need boats and Al Gore.But this is more complicated as commit a war.It sounds like high frequency trading includes a lot of the testing monitoring, tweaking the algorithm to adapt to the volatile market conditions and now will open the discussion with our two guest that we have.
First year Ross, Nepal Chief blocks your architect Hi fi Blockchain Abhishek Bhattacharya, cofounder at Brew Finance.A very warm welcome Gentlemen will begin with asking you about note of caution that you are a gave on day trading.RoHaas.As you know, I have always been day trading Violent is possible to make a lot of money because very volatile, it is actually easier to lose about.True.
Now when you talk about Internet trading, you’re looking at graphs and charts and guessing these magnet value.There is not too much of logic behind.You are trying to guess what the large number of people are thinking, and accordingly, you expect the market to move.Now, if you really must do it, I think the best strategy would be to go around news and sentiment and a list.So suppose you know, for example, recently by Lance God.Legal position in France Now we could expect a small rise in the price of the Native Open because of very positive news has come.
So I would say, if you want to do it news and sentiment analysis, probably one of the best back Nick.But you’re making it sound like a current people who do a lot of number.
Transit Maigret Offended with this? I’m sure they will be offended when I still believe it’s a lot of speculation.Okay, Mr Bhattacharya, what you think? What is one note of caution that you would like to give the viewers? So in a training see day training is dangerous.Even I believe in the stock market, which is not that followed, I’d write also, it is not over, like that’s a caution that we have to really be aware of.That crypto is 24 73, 65 right? There is no market of times, so that’s one of these of caution that you do day trading.
It’s fine if you do great trading.Many people are pretty successful in that, but that’s the definition of what’s pretty right, because you know that even in stock market, less than 1% profitable traders are there.We have to make sure that we are cautious that we don’t leave opposition’s overnight.
Yes, we can tell it in day, and we make sure that also, as Rose said, we can ride on the news.But we also know that, you know, news as opposed to popular view.We should sell on news right instead of by, because I have lost a lot of money on news, right? So I can know that.So, basically, you know, that’s one caution if you tried and tested this K kind of Yes.In most markets, anyone strategy that you pick up prefer.
See, To be honest, I have tried a bit of algo trading, which is the one who explained at the end of the Quanta trading, because there you don’t have to spend a lot of time yourself your hours.Otherwise, in day trading, I think you cannot focus on your work.You have to constantly be on your computers looking at the dominance.So a bit of Al Gore trading some, you know, some some trials, but again are not a lot of extent.
I said that I also said, It’s a lot more complicated and awarded Really sound like Do you agree with that? And if yes, how quite difficult.
Yes, Sharon, you’re very right.I mean, why? It’s very complicated.
Because if you have, if you’re just looking to have faith in someone else doing it for you, it’s a difference.Then it’s not complicated for you again.Sleep while the other percenters that and takes a cut right? Other than that, if you don’t understand the coin, you don’t understand the volume, mechanics, everything it you’re not.It’s not just difficult, you know, to be able to do that, Ross.Anyone strategy that you pick, I copy.
Trading is a good strategy.So what happens in that is different platforms allow you to copy of follow successful traders so you can actually see their performance over the last several months or maybe over a year, and then you say, you know Okay, this guy gets it right 90% of the time, like me, just copy.So in that case, you don’t have to do your own thinking us is copping a successful persons trade.I think that’s a good if you want to go down the right.
And Ross, who does it suit the best day trading The exchange is because they make a lot of the money because of the transaction.Feed a generator at the another day, like the same gaveling The casino always wins, I would say in day trading the exchange.Always with.Would you agree, Abhishek? Absolutely.
I mean, you know, that’s the perfect example.I got that with your Not that you have to explain.Always met.You never win.I mean, you think you’re winning, but tomorrow gonna lose exchanges on.Absolutely.And in the end of the shake things that you know, traders should keep in mind.Yeah, Absolutely.
One thing is that don’t plate on on a hunch, right? That Okay.I was good today.Tomorrow I’m gonna be better.Or at least this girl you’re gonna fail, right? If you don’t know the the specifics of how to do trading any kind Even in stock market, we have seen we don’t know that you know the patterns.
What you have to see if you don’t know the averages and you know, the moving, the average and everything that you want to see in your coin.Don’t have a basket of points that you are really good at that.
Anyone ask you a question and you’re able to unser them in your sleep? I don’t think that you should come into training to your needs.A job, right? So Okay, well, that’s all the time.
That be hard for this segment.Thank you, gentlemen.Financing all our questions without have also come to an end of this show and sing.It’s goodbye from my side.Keep watching the trip to products.And then if these are unregulated and can be highly risky, there may be no regulatory recourse for any loss from such transactions..