/biz/ - Business & Finance

>creates taxable events
Why wouldn't there be a taxable event if it were 0?

If anything can't you deduct the fee from your taxes?

>>7027743
EOS is shilled by XRP and TRX normalfags

if you think vitalik is going to lose after all the FUD /biz/ produced against him, you're delusional

>>7027743
What the fuck is a capital lock up cost?

what does Vitalik mean by this

"Your proposals still have fees; they're just charged in capital lockup cost instead of simple transparent direct cost."

>>7027784
EOS will have no transaction fees for dapp users. On Ethereum everything using gas is a taxable event.

Transaction fees, and Ethereum 1.0, are indeed antiquated. I have my eyes on EOS. Things are going to change.

>>7027806
value is in hodling

>tfw almost bought eos at 0.6

>>7027869
EOS is real estate and Ether is gas - something less necessary and antiquated as we move into the future.

>>7027806
It's an opportunity cost.....

I have a doctorate in economics and I cannot figure out if Vitalik is talking about things he understands, but does not have a definition for. Or if he is redefining already accepted economic concepts within his own understanding.


He's a genius and a moron at the same time.

EOS is the future you cant stop this

>>7027869
I don't get it.

Capital lockup = Holding?

>>7027863
>>7027901
Can you try to explain to me what the fuck Vitalik is talking about

>>7027904
Right that's what I thought but what the fuck does that have to do with Transaction fees? Does EOS prevent you from sending it too much each day or some shit?

>>7027784
Technically even when you send money to your own wallet from another wallet you own you're supposed to report it as if you sold an amount of crypto equal to the transfer fee and pay taxes on that.

Does EOS actually transfer the fee into lockups so that you can't sell it after you've received it for a certain period to reduce total transaction volume?

>>7028024
what the fuck? aren't I sending it to myself. how is this a taxable event?

>>7028024
But what difference does it make if that amount is zero?

And if you're only losing money. Why wouldn't that be a deduction?

>>7028025
No. EOS doesn’t have transaction fees.

Holding EOS tokens gives you access to a certain percentage of EOS blockchain bandwidth, which you may use for free simply by owning EOS.

Block producers (21 rotating on supercomputers) are paid via 5% yearly inflation.

AMA about EOS

>>7028087
Ok I understand now. To clarify, Vitalik means you must hold EOS to have any good transaction speed and that is the lockup he's referring to?

This coin doesn't sound that shit, does it have a working Mainnet yet?

>>7028087
>AMA about EOS
In your opinion, how much will it peak this year?

>>7028087
5% yearly inflation.

LMAO TRASH

>>7028054
You're paying for something (the transfer fee) in crypto. So according to our awful tax laws it's no different than buying coffee or gold with crypto and must still realize that gain. In practice I doubt the number of people reporting every transaction fee is above single digits.

>>7028024
technically the IRS can go suck on a bag of dicks.

>>7028159
AHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH

How the fuck am I meant to calculate all these taxes? I've used bitcoin.tax for some stuff and it seems good but does it take this shit into account?

>>7028126
It has a functioning testnet yes. Mainnet will be released in June, and will be unlike anything we’ve ever seen.

>>7028128
Over $100. 2019 could see $1000, especially if trillions come into crypto. This is because EOS has a billion dollar VC fund for EOS projects and it’s the most fast and enterprise friendly smart contract platform there is, was and perhaps ever will be.

>>7028149
>muh inflation
Inflation doesnt mean much in an emerging market like crypto. You can make it 10% inflation per year, doesnt matter when you expect the marketcap multiply several times lmao.

Why are EOS fudders such brainlets? You guys are reddit tier

>>7028159
single digits? try zero.

oh look, another white paper coin on the dead ethereum network

>block.one, a Cayman Islands exempted company, is building the EOS.IO Software. With employees and advisors based around the world

>remove employees
>efficient/getting anything done
pick one

>>7028126
It doesn't, it's an ERC20 token for now

>>7028195
>white paper coin
Dude they have a working testnet already. You guys are going to be cucked so much once they release the mainnet.

>>7027743
I thought the consensus was that EOS was a scam?

>>7028087
>5% yearly inflation
Jesus.
Just buy USD then, it's a better deal.

>>7028087
Why EOS > ARK? Ideally, short, brainlet greentext points

>>7028188
Particularly amusing coming from ETH holders as their inflation is at a similar level.

>>7028128
lol people like you are so fucking stupid

>>7028188
the one building is house on sand...

>>7028230
thats great that they circle jerk amongst themselves

If coins have no real world partners and real world implementation, they are scam coins. This is another one in the pile of hundreds.

>>7028230
This. It’s easier to FUD than to understand.

Dumping all of your ETH isn’t a ballsy move, it’s a logical one after you DYOR. The problem is that /biz/ is too lazy and stupid to spend hours researching investments that could make them multi-millionaires.

>>7028183
Just don't do it you fucktard

>>7027901
Ethereum is chocolate milk; EOS is dengue fever.

>paying taxes on tx fees
lel.

>>7028363
Explain intelligently why Ethereum will be better than EOS come June 2018.

I’ll wait very patiently.

>missed EOS back in november

This is it, EOS was the last big thing and I missed it, kill me.

>>7028347
What if they get angry

>>7028427
EOS will 100x - 1000x what are you talking about? /biz/ still doesn’t understand it yet. You’re still very early.

>>7027743
Lol, VItalik makes an interesting technical note and that dumbass Larimer dives in shilling his shit, what a fucking loser.

>>7028169
The one that will be sucking a bag of dicks is you, in jail, if you don't pay.

>>7028632
>21 supernodes
>Claims 100k tps

I understand what a liar is. Also do you understand how much more vulnerable a network is with only 21 nodes? 1000x LOL

>>7029002
Round robin. There are a lot more than 21. EOS will never be DDoSed offline. Ever.

>>7029002
Can you go into detail about this? Why is there only 21 nodes anyway? And who hosts/operates them?

Unless it's a private network that is small eg ICON this seems problematic

>>7028024
you are retarded
that would imply that if you keep sending it back and forth eventually you'll owe everything in taxes and if you sent too many tims you'll even be in debt.

The only taxable event is when you GAIN something you absolute retards

>>7028087
How does EOS ensure deterministic code execution?
How does EOS prevent infinite loops from blocking code executing nodes?

>>7029126
If you buy a Cup of Coffee with bitcoin and you bought that bitcoin at 0.000001 US Dollars and now it's worth $4, enough to buy the coffee you have made a capital gain.

Apply this rule to Tx's.

>Buy the service to transact the currency
>Did you buy the crypptocurrency needed to do that transaction at a lower price than what that crypto is worth now?

Then you owe capital gains. This is what he means, However it might just be for physical goods. I don't know about Tx for cryptos

>>7029233
it's retarded, noone is ever gonna win in court accusing you of having financial gains by "buying a transaction fee"
I'm so happy I'm not a burger tho, let it burn, fuck em

Fixed fees are superior.

waves masterrace

>>7029233
This is inconsistent as written as fees for trades are deductions yet in most cases are themselves transactions.

>>7028427
No, Turtlecoin was. You missed it too, but there's still garlicoin.