WE DID IT! MONTI IS THE WINNER OF 10K XEM LADIES AND GENTLEMEN WE ARE ABOVE 1000+ MEMBERS RIGHT NOW, IT IS A MEMORABLE DAY https://t.me/nemred
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such volatility in the market today, it's been a rollercoaster day. High was $.055 and just shy of a 500 million market cap, then a big drop down to the $300 mil market cap twice.. before rebounding to $.049 and 440 mil market. Volume has been well above average with over $20 million for going on 2 days now. Wonder where we'll settle.
In another matter, anyone have any suggestions how I should go about doing this? I haven't logged into nem on my pc in probably 8 or 9 months, and I know the install is way out of date. I moved to a new house and only have 3mbps dsl here, so trying to update the blockchain would be a big no go. If I fire my wallet up will it prompt me to upgrade or will I have to do it manually beforehand?
what if I use the android wallet? Do I just need the account address and private key and I should be able to see my balance on my phone right?
I'm not sure how to proceed, any advice would be welcome..
https://blog.nem.io/nanowallet-tutorial/
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Update: ECOBIT.IO ( IS A PUBLIC NEM BLOCKCHAIN PROJECT), ADDED XEM! FINALLY Do you see it ? theeeere, NO NO theeeere in the midle, yes thats one http://www.ecobit.io/
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Hi guys
I have a legal question. Suppose a standard hypothetical scenario where NEM rises to 1USD in 1-2 years. I will want to withdraw some of my funds lets say 1 mil USD. Now 1 mil USD will just arrive to my bank account - I would expect the financial police will be suspicious of how I could gain so much money.
Is someone here able to explain how this works in European legislation? Can I just withdraw money and say that I was a lucky NEM holder and everything will be fine? Will I need to declare this as an asset gain and pay taxes? Or is this tax-free?
Thanks for your input!
You are liable for capital gains tax afaik You will have to declare the value of your holdings every year in your tax forms. If you do this every year, you will have a paper trail where you paid taxes if they were due and you can back this up with the historical data if questions are asked. Most important thing to do is to call your bank before you request the transfer as the bank will immediately suspend your account for investigations. It may also be wise to call your tax agency to let them know you are cashing out on your assets so they know where it came from. What if you cashed out through local bitcoins (cash deal)? . I know $1million would be a big trade and involve suitcases etc but you could do it in stages You wouldn't be able to spend it on anything big as tax agencies will start asking questions how you bought this car or that house. Would you really mind paying 10k USD if you made a million profit? I know I wouldn't if it means I made a million in profit. i agree pay your tax and live... relax
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@visaco - thanks for the links
my pleasure
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How many nem are locked away off market in dev accounts, community funds etc
Rich list shows an awful lot of top accounts with names that suggest they're locked up, similar to masternodes dash effect.
nothing is "lock up" are community funds used for development and marketing the other ones are exchanges and big corps https://nemnodes.org/richlist/Assuming community funds aren't being traded they're off the market, looks like maybe 25% or so so ? what is your concern? Why so defensive? I have no concern, only investigating reasons why NEM is x10 ARDOR, when both are quite similar. If you go to market and see apples selling x10 price of oranges, then you look for reason. DASH masternodes locking coins off market is often given as explanation for dash price rise, I'm investigating if something similar is happening with NEM. It's not a criticism, so you can holster that attitude. ask yourself why did you use the word "awful " you were trying to fud my friend if you want really to investigate go to the official nem forum. i am sure you will get all the docs and references to satisfy you curiosity. https://forum.nem.io/Haha, you must be a young esl kiddy ... you're very sensitive Richlist shows roughly what's going on, large amount of coins in accounts unlikely to be trading. https://i.imgur.com/pbXVD2y.jpg
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Hi guys
I have a legal question. Suppose a standard hypothetical scenario where NEM rises to 1USD in 1-2 years. I will want to withdraw some of my funds lets say 1 mil USD. Now 1 mil USD will just arrive to my bank account - I would expect the financial police will be suspicious of how I could gain so much money.
Is someone here able to explain how this works in European legislation? Can I just withdraw money and say that I was a lucky NEM holder and everything will be fine? Will I need to declare this as an asset gain and pay taxes? Or is this tax-free?
Thanks for your input!
ask the tax department of your country. i heard europe will soon ban anonymous coins like dash monero zcash, xem is ok so i do not advise you to use them within europe at least. to avoid of being flagged try to not exceed 10K eur when you withdraw to your account.
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How many nem are locked away off market in dev accounts, community funds etc
Rich list shows an awful lot of top accounts with names that suggest they're locked up, similar to masternodes dash effect.
nothing is "lock up" are community funds used for development and marketing the other ones are exchanges and big corps https://nemnodes.org/richlist/Assuming community funds aren't being traded they're off the market, looks like maybe 25% or so so ? what is your concern? Why so defensive? I have no concern, only investigating reasons why NEM is x10 ARDOR, when both are quite similar. If you go to market and see apples selling x10 price of oranges, then you look for reason. DASH masternodes locking coins off market is often given as explanation for dash price rise, I'm investigating if something similar is happening with NEM. It's not a criticism, so you can holster that attitude. ask yourself why did you use the word "awful " you were trying to fud my friend if you want really to investigate go to the official nem forum. i am sure you will get all the docs and references to satisfy you curiosity. https://forum.nem.io/
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