Vitalik Just Donated $1 Billion Worth of Shiba Inu to India Covid Relief

libert19

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Quote from: Igebotz on September 05, 2021, 11:03:53 AM

Quote from: libert19 on August 17, 2021, 10:38:14 PM

Most of money is still on the address - https://etherscan.io/address/0x68A99f89E475a078645f4BAC491360aFe255Dff1

It must be pain to convert all these to fiat and use them for right causes seeing how corrupt the nation is. Also, Indian exchanges don't have much liquidity.

Is cryptocurrency not banned in India? How and why is the government officials still accepting donors in what they banned due to greed or is there something I'm missing about India and Cryptocurrency ban? Besides that's too huge to be converted at once it would cause a lot to the market price.

There was banking ban by rbi (central bank of India), but it has been overruled by supreme court (more info).

Regarding conversion, I'm not sure, this is the address if it helps: https://etherscan.io/address/0x68a99f89e475a078645f4bac491360afe255dff1

Igebotz

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Quote from: libert19 on August 17, 2021, 10:38:14 PM

Most of money is still on the address - https://etherscan.io/address/0x68A99f89E475a078645f4BAC491360aFe255Dff1

It must be pain to convert all these to fiat and use them for right causes seeing how corrupt the nation is. Also, Indian exchanges don't have much liquidity.

Is cryptocurrency not banned in India? How and why is the government officials still accepting donors in what they banned due to greed or is there something I'm missing about India and Cryptocurrency ban? Besides that's too huge to be converted at once it would cause a lot to the market price.

libert19

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Update: https://coincrunch.in/2021/08/19/india-crypto-relief-fund-contributes-to-healthcare-initiative-swasthya-ghar-tak/

teosanru

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Are we guys still discussing this? I think this was a move by Vitalik to cater two things, 1 to get some good points by donating into the Indian crypto fund while at the same time completely wasting the strategy of these shitcoin owners to burn their supply and increase their token price by creating demand surplus supply deficit situation, even though this money isn't converted into fiat so far, but the day it will be done most of the shitcoins would see a major dump on that day which might never recover up. But as of now with Second wave already passed I don't think there are a lot of chances that these would be converted to fiat.

pakhitheboss

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Quote from: libert19 on August 17, 2021, 10:38:14 PM

Most of money is still on the address - https://etherscan.io/address/0x68A99f89E475a078645f4BAC491360aFe255Dff1

It must be pain to convert all these to fiat and use them for right causes seeing how corrupt the nation is. Also, Indian exchanges don't have much liquidity.

If this amount is converted into Fiat, the government might apply a tax of 30 per cent as it is crypto. There is no law yet in India on cryptocurrency and unless there is one it is very hard for them to convert the whole amount into INR. Such a huge amount could have been utilized when the second wave was at its peak. It is possible that they are waiting for the third wave, which might happen end of this year.

libert19

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Most of money is still on the address - https://etherscan.io/address/0x68A99f89E475a078645f4BAC491360aFe255Dff1

It must be pain to convert all these to fiat and use them for right causes seeing how corrupt the nation is. Also, Indian exchanges don't have much liquidity.

SaShiRaJaVu

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Quote from: vennali on May 12, 2021, 02:37:34 PM

Its almost $1Billion in value, however the realized value will be low hundreds(millions). Amazed to see the power of crypto and atleast some positive impact on this world. Hopefully senior members of this community can ensure that those funds do get cashed out and be honestly used towards Covid Relief.

How to monitor those funds, none of the funds the central government is getting are transparent and there is no audit possible and they received huge amount of money and we have no idea what it is used for and if they use half of what is received as donation in a proper way the issues we saw never would have happened.

Quote from: UKprod on May 22, 2021, 07:00:45 AM

Yes, this was a great move by Vitalik Buterin. In a country that is on the verge of imposing crypto ban, such contributions from the crypto community should be considered while passing the laws.

I would consider it a win, even if Indian Government decides to regulate crypto rather than banning it.

Donate those funds to any temples or statues they are building and the government might reconsider their views on cryptocurrency Tongue

.

UKprod

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Yes, this was a great move by Vitalik Buterin. In a country that is on the verge of imposing crypto ban, such contributions from the crypto community should be considered while passing the laws.

I would consider it a win, even if Indian Government decides to regulate crypto rather than banning it.

vennali

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Vitalik just donated all the spam SHIBA he had in his wallet to India Covid Relief.
Proof of transaction - https://etherscan.io/tx/0xb65bcbb85c1633b0ab4e4886c3cd8eeaeb63edbb39cacdb9223fdcf4454fd2c7.

Its almost $1Billion in value, however the realized value will be low hundreds(millions). Amazed to see the power of crypto and atleast some positive impact on this world. Hopefully senior members of this community can ensure that those funds do get cashed out and be honestly used towards Covid Relief.

The creator of the relief funds has replied via Twitter to the generosity of Vitalik. https://twitter.com/sandeepnailwal/status/1392562768692252673

Jai Hind.

Topic: Vitalik Just Donated $1 Billion Worth of Shiba Inu to India Covid Relief (Read 174 times)