ICONOMI - Live for today. Invest for tomorrow.

[BIT-C]

I'm invested in ICN but stopped following for a few months. Could anyone update me on what will be release? I read that ICNP is working now for ICN holders, is that true? Will icnx be released this month? What about DAA?

Icnp is not working yet
The beta testers now.

[Enjorlas]

I'm invested in ICN but stopped following for a few months. Could anyone update me on what will be release? I read that ICNP is working now for ICN holders, is that true? Will icnx be released this month? What about DAA?

ICNX has been in closed beta since the end of February. They will be adding more and more beta testers, fixing bugs along the way. It could be released at the end of this month but giving them a little more time would be more realistic. They have invested in several ICOs with the ICNP. We are racking up unrealized profits.

[rgornik]

I'm invested in ICN but stopped following for a few months. Could anyone update me on what will be release? I read that ICNP is working now for ICN holders, is that true? Will icnx be released this month? What about DAA?

Icnp is not working yet
The beta testers now.

that is not true, icnp made already three investments

[bitcoinissatan]

I must be on a new thread ICN here, at least I get the latest news on new projects ICNX

[XbladeX]

****
My take is that with ICN, you have to report dividends to the government and pay taxes on them. But with ICNX, you do not have to pay taxes on them until you sell them.

Good joke man for me. Where those ICNs are rigged to one person ? Or where on ETH network any token have owner ?
As you see is IMPOSSIBLE to tax you directly. In EU that works that way you have to sell crypto to fiat make bank transfer and then you report income and pay tax. ICN like ICNX are same in matter of taxation till you sell your dividend for ETH for fiat USD/Euro you have earned 0.
Unrealized profit is not real profit in crypto until you will find fiat buyer you can not say you earned anything.
ICNX and ICN are same in taxation - in my country gains come when you capitalize in fiat profit not by just keeping it.

In stock market people are avoiding keeping cash on account at end of fiscal year they buy stock report 0 income then they sell next day to keep fiat in broker account until you move money in fiat out of stock market you have 0 to pay. This is good tactic in tax dodging.
Besides of that in EU there are countries where you have 0% capital gains like Estonia.

https://en.wikipedia.org/wiki/Capital_gains_tax

But every country is different while your ICN on your ETH wallet are not bound to anyone - but I don't stop you for paying if you really want.

[electronicash]

Why is the platform taking too long to be released?
I thought its on beta stage already and people are currently testing been gone working without updates from ICN only to find out its not yet complete. is the roadmap being followed?

[BTCSpearo]

****
My take is that with ICN, you have to report dividends to the government and pay taxes on them. But with ICNX, you do not have to pay taxes on them until you sell them.

Good joke man for me. Where those ICNs are rigged to one person ? Or where on ETH network any token have owner ?
As you see is IMPOSSIBLE to tax you directly. In EU that works that way you have to sell crypto to fiat make bank transfer and then you report income and pay tax. ICN like ICNX are same in matter of taxation till you sell your dividend for ETH for fiat USD/Euro you have earned 0.
Unrealized profit is not real profit in crypto until you will find fiat buyer you can not say you earned anything.
ICNX and ICN are same in taxation - in my country gains come when you capitalize in fiat profit not by just keeping it.

In stock market people are avoiding keeping cash on account at end of fiscal year they buy stock report 0 income then they sell next day to keep fiat in broker account until you move money in fiat out of stock market you have 0 to pay. This is good tactic in tax dodging.
Besides of that in EU there are countries where you have 0% capital gains like Estonia.

https://en.wikipedia.org/wiki/Capital_gains_tax

But every country is different while your ICN on your ETH wallet are not bound to anyone - but I don't stop you for paying if you really want.

Taxes on your ICN??? STFU lol.

Taxes are an immoral form of slavery in which people are forced to work so that the automobile industry can have its infrastructure subsidized, so that other people's children can learn about white privilege white guilt and prepare themselves for guvmint funded degrees in things like gender studies, so farmers can receive subsidies to make sure unhealthy junk food is cheap and competitively priced, so that soldiers can receive pay for guarding opium fields in Afghanistan, etc etc.

Not paying your taxes is a noble and just form of civil disobedience against an immoral and tyrannical system of wage slavery and capital miss allocation.

[andron8383]

Why is the platform taking too long to be released?
I thought its on beta stage already and people are currently testing been gone working without updates from ICN only to find out its not yet complete. is the roadmap being followed?

Tell me if you want create platform that will manage millions of $$$ will you hurry to much ?
Do you think such platform is 1-2 months work ?
About road map i think that ICNX trading should be in Q1 available according to road map 31 march they are in timing.
Current beta shown some bugs and they are fixing them.

In 2016 they had to started ICNX and ICNP  - they did it.
trading platform want to be released in 2017 but there was no deadline:
(So is hard to judge them that they are not delivering)
In mail i can not find and DEADLINE for ICNX lunch but only:

Beta access to the ICNX trading platform will be rolled out gradually while we monitor the status of the platform. The time until all the users have access to ICNX trading features depends on many factors, including external ones - for example, scaling up the number of users during a calm market period could lead to issues when the market breaks or pumps. 

Users that applied for beta testing program will be added first, then investors based on the amount invested in the ICO and then everyone else.

SO there is no dead line for lunch ICNX trading, they just wrote that they will add new users all time.

To prove i can show you time line from ICO. They were not providing any dates in 2017



Looks like we back to BULL :

[Enjorlas]

****
My take is that with ICN, you have to report dividends to the government and pay taxes on them. But with ICNX, you do not have to pay taxes on them until you sell them.

Good joke man for me. Where those ICNs are rigged to one person ? Or where on ETH network any token have owner ?
As you see is IMPOSSIBLE to tax you directly. In EU that works that way you have to sell crypto to fiat make bank transfer and then you report income and pay tax. ICN like ICNX are same in matter of taxation till you sell your dividend for ETH for fiat USD/Euro you have earned 0.
Unrealized profit is not real profit in crypto until you will find fiat buyer you can not say you earned anything.
ICNX and ICN are same in taxation - in my country gains come when you capitalize in fiat profit not by just keeping it.

In stock market people are avoiding keeping cash on account at end of fiscal year they buy stock report 0 income then they sell next day to keep fiat in broker account until you move money in fiat out of stock market you have 0 to pay. This is good tactic in tax dodging.
Besides of that in EU there are countries where you have 0% capital gains like Estonia.

https://en.wikipedia.org/wiki/Capital_gains_tax

But every country is different while your ICN on your ETH wallet are not bound to anyone - but I don't stop you for paying if you really want.

That doesn't fly. I am morally opposed to any taxation, but leagaly speaking, you have to pay taxes on any gains you make, fiat or otherwise. For example if you trade bitcoin for ethereum, you must pay taxes on any gains you made from that trade.

[XbladeX]

***
For example if you trade bitcoin for ethereum, you must pay taxes on any gains you made from that trade.
***

I look at that in different way - my gain doesn't exist till I have Fiat from it.

Your statement is like because you have used bike instead of taxi or rented jet.
You saved that way lets say 20$/1000$ you should pay tax from that income.

So as you say:

"For example if you trade bike ride for jet fly, you must pay taxes on any gains you made from that trade."

My IRS wanted tax companies using Linux they wanted VAT equal of Microsoft Windows because they were not using Windows and got gains.
Some tax offices are just more than ridiculous and you spend years in court to prove your rights.

You can pay tax from trades ETH/BTC but I will never do that until I convert that crypto for Fiat,
because my gains have to be proven by market.

[TheRealMarketmaker]

Nice article, well written from Tim on Nasdaq website.

http://www.nasdaq.com/article/to-be-or-not-to-be-that-is-the-big-bitcoin-question-cm758714

[rgornik]

Guys we stile will have to figure out about dividends and local legislation on it. but i guess until you are in crypto you do not need to think of that

[vhong]

Nice article, well written from Tim on Nasdaq website.

http://www.nasdaq.com/article/to-be-or-not-to-be-that-is-the-big-bitcoin-question-cm758714

Such a good read article on a popular business news site.

[stormia]

****
My take is that with ICN, you have to report dividends to the government and pay taxes on them. But with ICNX, you do not have to pay taxes on them until you sell them.

Good joke man for me. Where those ICNs are rigged to one person ? Or where on ETH network any token have owner ?
As you see is IMPOSSIBLE to tax you directly. In EU that works that way you have to sell crypto to fiat make bank transfer and then you report income and pay tax. ICN like ICNX are same in matter of taxation till you sell your dividend for ETH for fiat USD/Euro you have earned 0.
Unrealized profit is not real profit in crypto until you will find fiat buyer you can not say you earned anything.
ICNX and ICN are same in taxation - in my country gains come when you capitalize in fiat profit not by just keeping it.

In stock market people are avoiding keeping cash on account at end of fiscal year they buy stock report 0 income then they sell next day to keep fiat in broker account until you move money in fiat out of stock market you have 0 to pay. This is good tactic in tax dodging.
Besides of that in EU there are countries where you have 0% capital gains like Estonia.

https://en.wikipedia.org/wiki/Capital_gains_tax

But every country is different while your ICN on your ETH wallet are not bound to anyone - but I don't stop you for paying if you really want.

That doesn't fly. I am morally opposed to any taxation, but leagaly speaking, you have to pay taxes on any gains you make, fiat or otherwise. For example if you trade bitcoin for ethereum, you must pay taxes on any gains you made from that trade.

Uh no you don't pay taxes unless a profit is realized. Your example doesn't make sense. Say you trade btc to eth for a profit but then the price of eth goes down and you are now at a loss. You don't pay taxes on the gains you could have made in the initial trade because those profits were never realized. If you sold the eth at the lower price for a loss you would now have a loss you could report.

[MoveCrypto]

****
My take is that with ICN, you have to report dividends to the government and pay taxes on them. But with ICNX, you do not have to pay taxes on them until you sell them.

Good joke man for me. Where those ICNs are rigged to one person ? Or where on ETH network any token have owner ?
As you see is IMPOSSIBLE to tax you directly. In EU that works that way you have to sell crypto to fiat make bank transfer and then you report income and pay tax. ICN like ICNX are same in matter of taxation till you sell your dividend for ETH for fiat USD/Euro you have earned 0.
Unrealized profit is not real profit in crypto until you will find fiat buyer you can not say you earned anything.
ICNX and ICN are same in taxation - in my country gains come when you capitalize in fiat profit not by just keeping it.

In stock market people are avoiding keeping cash on account at end of fiscal year they buy stock report 0 income then they sell next day to keep fiat in broker account until you move money in fiat out of stock market you have 0 to pay. This is good tactic in tax dodging.
Besides of that in EU there are countries where you have 0% capital gains like Estonia.

https://en.wikipedia.org/wiki/Capital_gains_tax

But every country is different while your ICN on your ETH wallet are not bound to anyone - but I don't stop you for paying if you really want.

That doesn't fly. I am morally opposed to any taxation, but leagaly speaking, you have to pay taxes on any gains you make, fiat or otherwise. For example if you trade bitcoin for ethereum, you must pay taxes on any gains you made from that trade.

Uh no you don't pay taxes until a profit is realized.

It depends on the jurisdiction and the type of profit we are talking about.  In a lot of places like US or Slovenia, there is a distinction between capital gains and income.  Making a profit from trading is often considered capital gains.  Making a profit from doing a service, mining, or receiving interest on a loan is often considered income.

A lot of jurisdictions might consider a crypto dividend to be similar to mining, meaning it would be taxed as income based on the fiat exchange rate at the time it was received.  

But what if the dividend is in the form of an altcoin that has no direct fiat exchange rate?  Or what if the "dividend" is like Bitshares where they burn a portion of the supply to give the same effect as sending a dividend?

It's still a bit unregulated, I haven't seen any regulators even mention a crypto dividend yet.

[stormia]

****
My take is that with ICN, you have to report dividends to the government and pay taxes on them. But with ICNX, you do not have to pay taxes on them until you sell them.

Good joke man for me. Where those ICNs are rigged to one person ? Or where on ETH network any token have owner ?
As you see is IMPOSSIBLE to tax you directly. In EU that works that way you have to sell crypto to fiat make bank transfer and then you report income and pay tax. ICN like ICNX are same in matter of taxation till you sell your dividend for ETH for fiat USD/Euro you have earned 0.
Unrealized profit is not real profit in crypto until you will find fiat buyer you can not say you earned anything.
ICNX and ICN are same in taxation - in my country gains come when you capitalize in fiat profit not by just keeping it.

In stock market people are avoiding keeping cash on account at end of fiscal year they buy stock report 0 income then they sell next day to keep fiat in broker account until you move money in fiat out of stock market you have 0 to pay. This is good tactic in tax dodging.
Besides of that in EU there are countries where you have 0% capital gains like Estonia.

https://en.wikipedia.org/wiki/Capital_gains_tax

But every country is different while your ICN on your ETH wallet are not bound to anyone - but I don't stop you for paying if you really want.

That doesn't fly. I am morally opposed to any taxation, but leagaly speaking, you have to pay taxes on any gains you make, fiat or otherwise. For example if you trade bitcoin for ethereum, you must pay taxes on any gains you made from that trade.

Uh no you don't pay taxes until a profit is realized.

It depends on the jurisdiction and the type of profit we are talking about.  In a lot of places like US or Slovenia, there is a distinction between capital gains and income.  Making a profit from trading is often considered capital gains.  Making a profit from doing a service or mining is often considered income.

A lot of jurisdictions might consider a crypto dividend to be similar to mining, meaning it would be taxed as income based on the fiat exchange rate at the time it was received.  

But what if the dividend is in the form of an altcoin that has no direct fiat exchange rate?  Or what if the "dividend" is like Bitshares where they burn a portion of the supply to give the same effect as sending a dividend?

It's still a bit unregulated, I haven't seen any regulators even mention a crypto dividend yet.

This is true I should have specified capital gains, I was addressing his example of trading btc to eth which is more clear in my edited version (I have a bad habit of publishing posts and then immediately realizing there is more I wanted to include so I go back and edit it as fast as I can but it's usually too late and people have already replied to my original post).

I imagine a crypto dividend, as with ordinary dividends, will be considered income since no matter what the exchange rate is it is always a profit in a manner similar to mining (although I suppose you could argue that below a certain exchange rate you can actually incur a loss through mining due to electricity expenses). But then when is the amount of profit from the ETH dividend determined? With normal fiat dividends there isn't this extra conversion step. Do you use the exchange rate right as the eth is received, or when you go to sell it, or if you don't sell it is it based on the exchange rate at the time of reporting? If you report profit based on the exchange rate right as the eth comes in, then what happens if you hold onto the eth and its price increases or decreases? Are those now capital gains/losses you need to report too?

[Palakka]

Nice article, well written from Tim on Nasdaq website.

http://www.nasdaq.com/article/to-be-or-not-to-be-that-is-the-big-bitcoin-question-cm758714

yes, this is great news.
thats a nice article on nasdaq, Marketing always running from ICONOMI team.

[alonmuroch]

When is the next big release?

[XbladeX]

When is the next big release?

there i no certain date so far.
They just promised to add more and more people to beta but no dates which is smart becouse you have to fix bugs/exploits on way.
They will add people when they fix some current problems i am sure.
ONE date was on road map "platform in 2017" for sure.

PS: If you think that platform for managing millions of $ in cash will be delivered within month you are lying yourself maybe that part with ICNX will be but they have to be sure its secure that is main reason why is that taking long.
Some guys are tweaking stuff and fixing others are trying hack/exploit.

[Nachbar90]

Nice article, well written from Tim on Nasdaq website.

http://www.nasdaq.com/article/to-be-or-not-to-be-that-is-the-big-bitcoin-question-cm758714

That´s what happens if you can afford having your PR team at the Wallstreet 

Promoting/Marketing hasn´t even started yet, but be prepared for some big moves there! With those actions, they can easily attract big players.

ICN -> Buy & Hodl! With every investor using the funds, ICN will be worth even more because dividends are increasing!