/biz/ - Business & Finance

>>9172107
They sure are putting a lot of effort into this scam! (sarcasm for the haters)

I've been in since 7 cents but I will most likely dump my stack on the next pump or when they force KYC on burgers. No way am I letting Uncle Sam in on a piece of my dividends.

COSS STRATEGIC PARTNERS:

ROMANIA ISRAEL

...

>>9172107
don't send your documents to shady exchanges like this, especially when your only reward would be them stealing $50 from $1000 you deposit

>>9172349
I don’t even know how to report those to the IRS.

Should I be keeping a Excel spreadsheet with my weekly $3 dividends broken up into dust trades and converted into individual $0.00003 and such or do I just add it all up for the year and convert that?

The IRS couldn’t be more unclear on how to report these things.... I literally paid to file my taxes in person with a consultant and they really didn’t even seem clear on how to do the crypto to crypto taxes. Though if I get audited HR Block will have to pay for it.

>>9172491
Yeah an anonymous poster on 4chan is definitely trustable though

>>9172510
As long as you are just collecting the dividends and not selling them then you wouldn't have to report them. Once you withdraw the dividend and then sell it for BTC/ETH/FIAT you would have to pay taxes with a $0 cost basis on it which means uncle sam takes his 0-35% share depending on what tax bracket you are in.

>>9172349
I love how open people are about committing tax fraud on a non-secure (http) web site in the USA where ISPs can and do turn over logs to the government.

>>9172510
You report it as income the day you distribute it.
Technically it's not yours until you distribute it because you have to pay that .001 eth fee for it.
If you don't sell your distribution that day and hold on to it then you have to report it as income and then if you sell it later on you have to report the capital gains. Which is why i sell my distributions on the same day i distribute them so i just have to claim it as Income and not worry about all that capital gains BS.
ez.

>>9173204
>he doesnt use https while browsing 4chan

anyways coss is a piece of shit. i finally sold today at a 85% loss. felt a great weight lift off my shoulders. the devs are absolutely incompetent and rune is a potsmoking retard. worst investment i ever made, by far, and the only reason i did it was because i was freaking out about missing the KCS train so jumped on COSS against my better judgement. first impression of that heroin looking motherfucker was that this is a shit project run by incompetents. lesson learned

I can't believe it. This fucking site only has TWO GENDERS. They don't use the word "sex", but GENDER. What a bunch of fucking shitlords.

>>9173481

lmao, buy high sell low. good job

>>9173481
> buy high and sell low before the obvious bullrun
There is only about a 10% chance this post is legit. But fucking hell I hope it is, because that means there are still morons in crypto to pray on.

>>9173516
>>9173582
coss will never moon more than any other shitcoin, the exchange is utter shit. you cosstards keep waiting for the moon mission with every update but it never happens and it never will. the telegram chat is absolutely pathetic with the lowest cretins and pajeet investors i have ever seen in a crypto project

>>9173481
you sold on the day they released fiat ahead of the deadline? what the fuck hahahaha

>>9173741
fiat released on its delayed deadline and the price stayed stagnant

nobody believes in this project after all the failures, only delusional cosstards still hold their bags

>>9173791
oh did you buy high? I waited until it was as low as possible, buying it at this price is like buying it before the december bull run

>>9173856
buying shit is still buying shit even if the market is down right now

>>9173503
KYS faggot.

>>9173481
You're an absolute retard if you sold at an 85% loss lol. Who buys in during a bull and holds? And then you compounded the idiocy by selling at a huge loss. Lol

>>9172107
I really hope you guys make it. I bought at 6 cents and sold somewhere above $2 when it spiked and the entire platform was crashing over and over. Coss gave me the opportunity to take out my initial investment and buy tons of Req and Link so I'll keep rooting for you guys, but I lost faith in the project.

>>9173972
You lost faith in coss yet unironically hold link? Nice larp.

>>9173992
I'm not larping, and my lack of faith in the project doesn't mean I'm right either.

>>9173956
You didn't do any trading crypto to crypto in dec-jan?

>>9173992
lol this how delusional cosstards are

>>9173601
I'm more inclined to do the OPPOSITE of what you say given how you bought high and sold low. Regardless of what you think your instincts/thoughts are, they more likely to be wrong rather than right.

>>9174314
yeah my instinct was to not buy that piece of shit COSS token and yet i did it, big mistake, it crashed worse than virtually any other coin and there is no reason for it to increase in value in the short term future

>>9174314
I bought in precisely because /biz/ hates it with a passion.

>>9174314
This

>>9174367
I'm starting to believe you're just a fudder. Not worth taking any of your advice either way tho, since you're just a moron who loses money if not fudding.

>>9174367
You are either a moronic sheep who can't see trends, or a FUDster that is doing a poor job. Thanks for shitting up the thread though, I guess.

>>9174432
>>9174430
the only coss trend is that its a romnian exchange run by a heroin head from norway living in singapore that fails to deliver every single time

>>9173481
>i was freaking out about missing the KCS train so jumped on COSS against my better judgement
pretty much your average COSSfag
They complained KCS was too expensive, so they bought a cheaper token...that ended up being a worse deal
KCS peak price: ~$20
Kucoin peak volume: ~300m
COSS peak price: ~$3
COSS peak volume: ~11m

>muh 50% dividends forever
irrelevant for me, since I sold all my KCS at ~125k, long before the first dividend reduction
Only relevant for COSS if they can attract people to their exchange with shitcoins like Kucoin did (good luck pulling that off in a bear market) or if they can get people to choose them over GDAX (lol I'm going to move funds off an exchange with insurance onto some shit backwater exchange)
>muh fiat
again, good luck getting people to choose COSS over GDAX or some other established exchange
Binance announcing plans for fiat was the final nail in COSS's coffin

>>9174367
You should have done more fundamental analysis. That's what the COSS shills love to say, right?
Too bad you didn't realize why Kucoin was (relatively) successful in the first place and COSS wasn't, despite being much older than Kucoin.

>>9174599
>Binance announcing plans for fiat was the final nail in COSS's coffin
Nope. Binance has no plans to introduce fiat. You're an outright lair.
https://www.bloomberg.com/news/articles/2018-04-20/crypto-exchange-binance-denies-it-will-introduce-dollar-trading

If you're going to copy-paste your fud, at least update it to be accurate.

Hahahahaha
>muh new UI
>muh new engine
>muh FIAT
You guys shilling this shit for months finally going to accept this was a shit investment and move on? The exchange is still complete fucking trash for how long they have been out.

Fiat is here boys!

>>9174599
>>9174655
Here is the kicker. I decided I was going to invest in an exchange in december. The primary candidates were Kucoin and Coss. I felt strongly that Kucoin was way superior, and coss left a bad first impression, both on the exchange itself and of videos and writings by the developers. I decided to invest in Kucoin, this was when it was still below 1 dollar. Now for some reason life got in the way, a lot of stress around christmas, and somehow i ended up not investing in it. And it just kept on mooning and mooning and mooning more than anything else i've ever seen. This of course made me extremely emotional and against my better judgement i invested in COSS, hoping that it would also moon. Every single update they have relased thus far has been disappointing as fuck. And it doesn't look like it will turn around anytime soon. Maybe when they have fixed their trading engine and have api they will get some traffic and possibly there could be some hope but i'd wager that's at least 3 months out from here. In the meantime the cosstards are going to cry in their telegram when their shitcoin dumps further because almost no one will pay the 50 dollars + 0.5% to deposit fiat, with a minimum limit of 1000 dollars

PayFair went live and didn't fuck up and basically makes this shit redundant

Fuck KYC

>>9174887
this is going to be a good bullrun for coss.
cant wait!!

>>9172107
its shit

>>9174900
>fiat without kyc
This will end well for sure!

>>9174887
Fiat update is "released" but you have to do 2 separate KYC processes to deposit fiat, and you can only do the first one as of today. Another COSS miracle!

You better hope they dont get a new custodian so you'll have to do a third KYC process, fucking lol.

>>9175071
At the very least they changed the requirements for kyc lol.

>>9175088
What changed?

>>9175100
When announced:
ONLY passport and English proof of verification; No Americans
After massive dump and people complaining hard:
All kinds of ids/driving licenses/passports accepted, proof of residency only has to have latin letters; Americans accepted (but can't trade fiat YET)

>>9175071
Yeah cuz coinbase doesn't do KYC for fiat purchases, right? The company that values themselves at 8 billion?

>>9175210
The problem people have with kyc on coss is that you basically have to do it twice if you want to trade fiat. Only once for crypto.

>>9175153
Lol americans weren't accepted originally? Wtf? And they changed it when people complained? Did they not think it would be an issue? And Americans still won't be able to trade fiat?

It's like every single thing they do they fuck up something basic. I don't get how they can consistently do it. It really is as if some drunken pothead was trying to set up an exchange.

>The UI is shit, make a new one!
Ok, here it is after 3 months. Hope you like it!
>What the fuck? It takes 30 second to load the charts and it doesn't even show the current price.
Ooops my bad. There we go, 40 days later it we now have an update and it should work.
>We need fiat on the exchange.
Ok, here is a fiat update, now 3 months later.
>Wtf? Why do you have higher fees than literally anyone else? Why do I have to do 2 separate KYC processes? Why can't americans do fiat trading?

And on and on it goes. What a shitshow. Now I can finally laugh at it after I got out. Even their memes are fucking shit. Literally shit plastered together in paint by pajeets. Today there was some pajeet who said he was 100% into coss and he was talking about how if COSS got Binance levels of volume he could retire or some shit like that. Absolutely deluded. Sad.

>>9173481
you, sir, are a MANIAC

>>9175267
>Lol americans weren't accepted originally? Wtf?
Yep. Americans were basically excluded because coss was afraid of muh compliance.
>And they changed it when people complained? Did they not think it would be an issue?
COSS as a company is pretty shit. They are lucky their community is dedicated to its investment.
>And Americans still won't be able to trade fiat?
Rune, the guy who owns coss, said it'll be done within 1-6 months.
>It's like every single thing they do they fuck up something basic. I don't get how they can consistently do it. It really is as if some drunken pothead was trying to set up an exchange.
COSS is a good example of sell the news because they ALWAYS fuck it up one way or another only to fix it weeks later.
>Literally shit plastered together in paint by pajeets. Today there was some pajeet who said he was 100% into coss and he was talking about how if COSS got Binance levels of volume he could retire or some shit like that. Absolutely deluded. Sad.
Thank god for these pajeets. Rune himself is aiming for 100m volume eoy so I say 20-30m volume eoy because COSS is a giant fuckup. Still enough for people who own a good few dozen thousend to make pocket money each week.

>>9174900
>PayFair
You serious? PayFair? Kek

>>9175126
>> Sorry that I sound retarded but how is that possible? Aren't there any laws preventing this?
>In some situations (countries): it's legal. But it's practically illegal since the legal areas won't have normal bank relationships.

>Without KYC (Know Your Customer) and an accountable party, it's highly illegal in US and US-law-abiding countries (most of Europe, for example). There needs to be SDN (Specially Designated Nationals) protection or else people who move anything more than peanuts will be individually fucked by the US Treasury Department and/or the local countries equivalent. It's a pretty serious offense that absolutely wrecks banks left and right. And if you happen to trade with someone who was on a suspected terrorist list somewhere, the penalties would be about the most severe you can receive for a crime. I can't stress this enough-- if you use this service then you are taking the (likely) largest individual risk of your life. Since banking isn't anonymous and you're linking this to your bank, you can't hide from the wrath of what will happen should you trade with someone questionable.

>100% the people who run this operation will get a knock on the door by a three letter agency and everything physical will be shut down. The token may be good for a quick pump and dump, but its failure is absolutely inevitable.

>> t. work in fintech, money movement department

>>9175364
>it'll be done within 1-6 months
hahahahahaha i love that timetable

he also said that 2018 would be the year to set up coss, and 2019 would be the year when they can actually start to compete to be one of the top 20 exchanges. basically admitting it's a shit tier investment for the next 6 months

>>9175440
Their whitepaper timeline says the opposite, nice made up fud though

>>9175466
ok bro

>>9175549
What volume would top 30 exchange be right now?

And if it got top 40, even, based on the ROI, do you actually think it's a bad investment now?

Stay poor tard

>>9175575
Long term it's a shit business model because exchanges will soon push below 0.1% fees, 0.1% is exorbantly high, it's more like 0.01% in other finance

>>9175549
2019 will be the year of the DEX

>>9175672
I'll be all over DEX once it has sub-second trade times. Until then, day traders won't be able to play in the space. And without day traders, there isn't enough liquidity for smart money.

>>9175615
Coss has 0.04% fees.

>>9175856
If youre a massive whale

Current state of coss telegrsm

>>9173992
I hold coss and get paid in link.
IQ over 200.

>>9173503
>This fucking site only has TWO GENDERS
wtf I love COSS now

>>9175951
Or if you daytrade with more than $5k in assets.

Anyone else not get their weekly fee split yet?

>>9173481
Not even a COSSfag but if this is real then you are a gigantic retard for selling on the day they're supposed to introduce fiat
That's probably the one time you're NOT supposed to sell a token like this

>>9176057
Yeah there is no reason to daytrade on coss unlesd all youre trading is coss. Pitiful volume on everything else

>kyc

no, I don't think so faggot kikes

>>9176096
Fiat already released today and guess what you cant deposit fiat. Its the coss way.

>>9175856
except not really. check your wallet balances after trading and it doesn't add up. everything says they're taking 0.04% while your wallet reflects a higher percentage taken out (it's not even a consistent percentage). it was reported months ago and they don't care enough to fix it.

>>9176572
Ayy lmao im not surprised

Maybe the new devteam in malaysia can take a look at it

hodlers of this will need a KCS guide soon

>>9176665
Kcs guide?

>>9176632
I'm glad you lost 85% of you're mommy's lunch money.

Lmao at the guy with 21+ posts by this ID. So glad there's still plenty of idiots like him that I can prey on

>>9173503
It is not the year "California, America 2018" everywhere in the world you know. I see what you are saying though lol

bump

bump

>>9176849
Imagine getting burned by a coin so bad that you just sit online spreading FUD all day lol. I think I'd just kill myself at that point.

Aaaaaand it’s still just lingering between 32-35 cents all day.

What the fuck man.

https://bigblocksblog.wordpress.com/2018/01/30/the-three-way-symbiosis-ark-bpt-coss/

>COSS will provide liquidity to decentralised exchanges.

I was keeping an eye on Coss to see if it would be good competition for IDEX and Bancor. Coss is looking pretty bad right now I have to say

>>9178911
All DEX will rise above centralized exchanges over time. The only way centralized exchanges can secure a userbase is providing FIAT to Crypto transactions

>>9172107
>KYC guide
What if I already have an account with crypto sitting in it? Is it locked until I verify myself now?

>>9179493

yes, get fucked retard
thats what you get for trusting Rune

>>9179493
there's a transition time so everyone will be able to trade and withdraw crypto, in like three months or so everyone who wants to trade fiat will have to get kyc approved