/biz/ - Business & Finance

Enjoy getting fucked on taxes you fucking nimrod. Wouldn't even count as a qualified dividend.

>>7270878
If you're worried about crypto taxes, dividends should be the least of your concerns.

>>7270878
says the jealous noneo

>>7270922
I don't day trade crypto. I've bought and held every coin I own and have yet to experience a taxable event. Getting "free" coins is taxable as fuck though, so have fun with that.

>>7270853
>any questions?
Yes I have 113 neo on the Antshares Core wallet, I am getting nowhere near 1 gas a month. what do?

>>7270878
Bro you’ve had an entire month to get in at 113-120 what the fuck have you been doing? That’s as good as it’s going to get at this point and there’s still fucking insane gains left

Why by NEO when I get get superior gains from ETH PoS & OmiseGO PoS?

PoS is also more legally defensible as as to gas being "generated"

so many shit coins

only ones worth holding are

btc eth neo wtc omg and a selected few others

>>7270953
i have 114 and i am getting 1 a month, maybe a bit more

gui wallet

>>7270853
Do I get any gas if I have 10 NEO or do I need to hit that point?

>>7271009
you will still get gas with 10, as long as there is at least 1 NEO in the address it gets GAS distributed to it every block

>>7270946
I don't understand. How does cashing out a "free" coin end up getting taxed any more than cashing out a coin that grew in value?

>>7271009
You will receive GAS from some exchanges (Binance/Kucoin - NOT BITTREX) if you hold any amount of NEO. Monthly for Binance, daily for Kucoin.

If you hold in wallet, you obviously have to have at least 1 NEO (since you can't transfer fractions), but you will generate with 1.

NEO addresses are like ETH addresses - they hold multiple coins.

When transaction fees are activated, they will be paid using GAS

>Any questions?
Binance distributes GAS to 6 million people, Is that legal?

Here's the kicker.

NEO, being indivisible, is the most scarce crypto. only a few million people will ever be able to own any NEO, whereas billions of people can own a few satoshis.

I was like you, thinking that because it couldn't be broken into decimals that it would make it not be able to grow in price because people couldn't buy in. Then I really thought about it and wow was I wrong.

>>7271147
not to mention the amount of lost neo due to tx fails, like putting a decimal in,sending it to a invalid address, or lost private keys

1 neo = 1 Beach house

I'm stuck at 35.
Comfy enough.

>>7271040
You're being given a "free" coin that is functionally similar to a dividend. That coin is either taxed as a gift or as a capital gains, since you paid nothing for it. And it doesn't even get the qualified dividend benefit due to not being a dividend, duh.

>>7271238
>taxing something that is free
the ultimate state of /biz/. i thought you wanted to make money.
also only in the land of the free

Ya, and heres the funny part, all of those 'lost' decimal parts that people lost on bittrex weren't really lost, bittrex just kept them. Think about it, the decimals can't disappear on the NEO chain, just out of your bittrex account but not out of bittrex's NEO wallet.

>>7271214
>>7271371

1000 by 2019
0
0
0

>>7271393
did they? how could they kept the decimals?

>>7271614
there are no decimals of NEO on the NEO chain, factional NEO only exist in exchanges user interfaces to make them exchangable in fractions

when two people on an exchange exchange crypto, no crypto changes any wallet on the blockchian. that would be completely infeasible anyway. the exchanges fake everything

>>7271778
i understand

>>7271371
>
.

>>7270853
b-but neo is heavily centralized Chinese scam coin

>>7272136
j-just like qtum's ceo is a scam artist

>>7270853
So I get an extra 1% per day just for holding my neo and not cashing out into fiat. Sounds just like my favourite coin BITCONEC

>>7272209
lmao this guy isn't capable of logic conclusions
don't buy it then and piss off faggot

>>7271238
Worse, the US SEC might get grumpy, classify NEO as a security, and start leaning on exchanges open to US customers.

>>7271336
>he's never heard of gift taxes

How do I know you either live in a basement or are from a third world shithole?

>>7270853
Neo fags redpill me on Vechain. Are you worried? You seem to be the only boys in crypto with some commoon sense, genuinely interested in what you have to say.

>>7272347
>gift tax
literally jewish cuckery

>>7271147
What? I own 0.49 neo, wtf are you on about

>>7272633
try sending it to your neo wallet and see what happens

>>7272664
Wew lad I had no idea

>>7272790
you are welcome

Alright, listen up /biz/fags, here’s a quick rundown on collecting GAS on the NEO network - NEO is your stake and membership in the network, GAS is the utility token. You hold NEO in your wallet or an exchange that pays out GAS (Binance, Kucoin). Don’t use Bittrex, they take your GAS. Even if you have one NEO you will still collect GAS. How much GAS will you collect?

>Go to neotogas.com
>Type in X amount of NEO
>Observe what amount of GAS you will receive for holding X amount of NEO

The site says what you will earn per day, week, month, and year at current NEO/GAS rates in terms of GAS/BTC/USD. Is it enough to live off the dividends? Well that’s subjective. No one knows how much it will be worth in the future but if you think it will 10x then multiply what you see by 10x. Simple as that

The actual vs theory is different because as NEO becomes more decentralized the amount will get closer to theory because the block generation rate will increase thus increasing the rate of GAS produced. And as a rule of thumb GAS generally stays around .3-.5 the price of NEO. Hopefully this helps with the constant repeat questions concerning this subject. Visit Plebbit and do more research if you can’t grasp this.

Pro Tip

dont buy NEO or other dividend distributing coins until they are made illegal in the USA by the SEC. (illegal securities)

t. americuck

>>7270853
>for every 10,000$ you get 50$ a month

>>7274243
Yea it's pretty outrageous when you look at it that way but if NEO/GAS goes 5x-10x you're then looking at 250-500 a month. Ideally it would have been best to get in early but of course hindsight is 20/20. But if you were an early investor you're not worried as you;re already making close to $500 a month right now with 1000+ NEO

>>7274243
Pretty much every coin with dividends/staking pays out less than 10% per year. It's a small bonus for hodlers, not your ticket to Lamboland.

>>7270972
How they compare in %?

>>7274243
>tfw NEO still pays out better than the best boomer savings accounts

>>7274243
gas dividend rate can be adjusted by neo holders.

>>7274010
im generating just over 1 gas a day right now. im hoping for $500 gas in the near term as that would introduce some life flexibility. long term who knows, but im planning on never selling my neo.

>>7275805
same here bro, ~1 gas a day. 2500+ NEO 500+ GAS sized bags
looking forward to retirement this summer

>>7275998
Would you really retire though? I’m at about .5 GAS per day but I wouldn’t want to sell my NEO. I’d collect GAS, sell, then reinvest. Probably in real estate. I would keep working for at lest a few more years though, have those dividends to fall back on and collect while I can. Then sell all my NEO later on if I need to.

>>7270853
wow, thats like, really bad. so if you have 1000 neo which is over 100k you only get like $600 a month? LMAO

>>7276110
in my case no, my job pays well and i like programming so might as well get paid for it. id definitely negotiate for flexibility so i can start my own side project, use my gas to pay for a few peoples wages. my own little empire.

Sitting comfy at 107 neo, but I only had like $200 to invest in the beginning. Ants have grown a lot so far

>>7271233

This is how you know Neo is a scam.

>>7270853
HOW LONG DOES IT PAY OUT YOU MASSIVE FAGGOTS? IS IT TEMPORARY DIVIDENDS OR MONTHLY FOR LIFE? I HAVE ASKED THIS SHIT 20 FUCKING TIMES THE PAST WEEK YOU NIGGERS

>>7276495
I like that. Definitely the way to go, who knows how much NEO may be worth years from now. I know crypto moves fast but NEO is prepping for the long term.

>>7276161
Like I said earlier there pal...obviously buying $100k worth of NEO right now isn’t feasible to most, especially if your dividend incentive is $600 a month. But let’s think about this...how many coins even give dividends? Would you rather keep it in savings or a mutual fund making even less? AND this coin is poised to 10x I’m the long term that so that will likely be $6k a month in a year or 2. People are just salty because they could have had 1000+ NEO at 2/3 bucks a piece but now want to fud when they can only afford a handful which won’t give them shit in dividends in the long run.

>>7275016
Exactly. People expect to have a coin that moons 100x every month and pay you thousands a day in dividends even if you snoozed and got in late. I’m comfy and you’re complaining about the dividend that I’m getting and you aren’t. Take a fucking hike.

>>7276161
>assuming GAS and NEO will stay the same price and not pump massively the next couple years
nothing personal kid

>>7276921
You generate it every time a new block is generated. If you have the NEON wallet you can claim every 5 minutes, no matter how small the amount generated is at that time. Kucoin and Binance give it to you every so often, daily and monthly respectively, if I remember correctly. These dividends will go on for about 22-23 years at which point all GAS will eventually be mined. GAS will keep being re-distributed in the economy and through consensus nodes, and NEO holders will continue to collect dividends in the form of network fees. It’s all explained specifically in the white paper. This is as specific as I want/can get at the current moment. Definitely check out the original white paper