[ANN] Viacoin (VIA) - Safe | Segwit | Lightning Network | Auxpow | Fast

[Asimmo]

It`s been a pleasure, reading last pages.

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[wheelz1200]

Rises from 0.00001000 impressive, we will see until where it arrives at the moment it continues in tendency to the clear rise

Interesting chart.  Lot of activity recently.  Need to see where this one goes but have a feeling there is only one way this one is going....

[aomine95]

The hardest part of all this I've found is still the link between digital currency Exchanges and the legacy banking system, three banks have arbitrarily closed down my accounts in the last year, one that I'd been banking with for over forty years, though I never did any virtual currency stuff through some of them so I don't know for sure why that was, but I finally found a way to safely move funds to fiat that was also acceptable to the system in place currently, at least so far, touch wood.

edit to add: shout out to Niel at Mysteries, Covent Garden, London, UK

Good job on your holdings!  I only have peanuts, but, I'm still concerned about moving funds to fiat.  Can you elaborate on moving funds to fiat?  I'm considering Coinbase to Bank Account.

That should be perfectly fine for those sort of amounts, even up to mid size np.

IOTA added

https://i.imgur.com/gJ9aPja.jpg

Hey, could you explain how to take large amounts out of crypto? Most exchanges have limits of 50k per day and that seems very hard to take 5M out, yet alone 100M.

I have a limit of $100k per day on Polo, it needed a Skype interview etc with their compliance guy, I'm trying to up it atm but they're swamped and unresponsive recently.

I can take out any amount from Bitstamp, ie last withdrawal was > $1.1MM but they keep thinking up new hoops for me to jump through, latest was that I had to sign messages from the BTC addies that I've used for years to prove that they're mine, but with patience one can get 7 figure amounts out, cost $915 in BS fees though, usually takes 4 biz days to be in my bank account.

The main hurdle is finding a bank that will not freak out when regular large amounts come in from Bitstamp's Estonian bank which raises red flags for them and also when you open bank accounts, especially USD offshore ones, they ask you to estimate how much you're likely to be paying in each month, this is impossible to estimate due to crypto volatility without unnecessarily restricting yourself, so when I estimated $250k per month and paid in $500 to $750 as I'd just found a property that I really wanted and BTC was at an ATH that also freaked them out.

When you get to amounts like $100MM you are in the 0.1% and everything becomes possible then and a good wealth manager will make all the intros that you need so long as you can prove that your wealth was obtained legitimately, in fact they'll even do this for free if you play your cards right on the probability or unsaid understanding that you may choose to show your gratitude by giving them a bunch of your wealth to manage long term if you're sufficiently impressed by how they can open doors and get stuff done and their track record.

I'm looking to take around 1M out of crypto but I'm really scared a bank will close my account and I'll have to take a year and lawyers to get it back. Do you suggest I go to a lawyer first or contact a money manager before I withdraw?

[dranster]

Wow that's great OTOH, thanks for taking time and replying to all these messages in here

You certainly are a Role Model for lots of people and fishes like me

You should write an autobiography or someone else should  do a biography on your life and the various events

I assume you were FIAT rich and must be a banker/investor before the crypto era and a middle aged patient man

Thanks for contribution to the crypto economy 🙏

[JoostB]

Something fishy is going on.

This morning I tried to send a large amount of VIA to Poloniex but the coins never arrived, the transaction already has 28 confirmations but the TXID is nowhere to be seen in the block-explorer. I also see that the chain I'm on has a different length so i'm afraid that somehow the blockchain has forked.

Does this mean that the coins I sent to Poloniex are lost? Is there a way to recover these coins?

I need some help with this, hopefully the dev can explain what is going on here.
  

Edit:

Finally after an hour or so the TXID appeared in the block-explorer.
Still the question remains why my wallet shows a lower number of blocks as the block-explorer, and the coins I sent are still not deposited into my Poloniex account, probably Poloniex is messing up, I will open a ticket.
Sh*t happens.

 

[Xosihc]

I'm looking to take around 1M out of crypto but I'm really scared a bank will close my account and I'll have to take a year and lawyers to get it back. Do you suggest I go to a lawyer first or contact a money manager before I withdraw?

Are you based in the US? Really you shouldn't have a problem regardless of where you are if you obtained the fund legitimately. You aren't nearly the first person to withdrawal $1M from crypto and won't be the last.

[Otoh]

Wow that's great OTOH, thanks for taking time and replying to all these messages in here

You certainly are a Role Model for lots of people and fishes like me

You should write an autobiography or someone else should  do a biography on your life and the various events

I assume you were FIAT rich and must be a banker/investor before the crypto era and a middle aged patient man

Thanks for contribution to the crypto economy 🙏

Yes I should, no I was actually homeless in the '90s and then slowly rebuilding my life, doing whatever to survive, true story.

[Otoh]

...

I'm looking to take around $1M out of crypto but I'm really scared a bank will close my account and I'll have to take a year and lawyers to get it back. Do you suggest I go to a lawyer first or contact a money manager before I withdraw?

I assume that you're in the States and will be declaring your profits for capital gains or trading income to the IRS, I actually had the least trouble with US banks (3 of them), zero issues in fact apart from BoA asking me to fill in a declaration that I had earned no taxable income in the US, $1MM isn't really an awful lot of money there especially if you're in California or similar where my accounts are, personally I'd talk to the bank first and say exactly what you planned on doing and ask if they would have any issues with that, likely you'd want to have proof of your original fiat deposits to Exchanges or spent on mining equipment, plus of your trades as well, they could say you'd need to open a business account with them or something or they may just be cool with it being a profitable hobby sort of thing.

Which ever country you're in the above may be sensible and also to talk with a tax accountant to see the best way to do this from a tax perspective and perhaps the accountant could OK it with your bank prior to you sending any proceeds there.

For amounts > $1MM then the wealth manager route may be best, a lawyer shouldn't be needed at all unless you have failed to make tax declarations that you should have in which case you do need a good firm of tax lawyers to get your affairs back in order and to cut you a deal with the IRS, ie just pay some penalties and the back taxes to normalize things, PM me if this is the case as my wealth manager has already helped one US citizen with this, also I guess that you're not in a position to relocate to a jurisdiction that has no capital gains or income tax and renounce your US citizenship if you have that.

[Asimmo]

Otoh

So, you advice to keep screenshots and every expense/payment supporting docs, for the future withdrawals? (Regardless amount?)

[Seanzqt]

VIA is powering on today 

[Otoh]

Otoh

So, you advice to keep screenshots and every expense/payment supporting docs, for the future withdrawals? (Regardless amount?)

Like anything it's best to keep records yourself as Exchanges can and do fold and banks may close your accounts, maybe not every little thing, but certainly all fiat transfers in to exchanges, any non-trivial trades & profits/losses, plus expenses if you one day plan to cash out and deposit a decent amount in fiat to a bank in a place where you'd need to declare it as gains or income for tax purposes.

[Seanzqt]

VIA is powering on today 

Better safe than sorry, in Australia we can capitalise on our losses so we won't pay tax or income tax for that matter on the amount we have invested. If lets say I invested $50,000 and then took out $50,000 anything over $10,000 to the dollar is reported to AUSTRAC it's all about protection and anti-money laundering, the banks report everything and the taxation office knows all so there isn't any easy way to escape it.

Keep records as you can use this as your evidence, proof as such - otherwise you risk paying capital gains on your profits.

[GreenCandlestick]

This is my first post but i just wanted to come i and thank the dev romanornr for all the hard work he is putting in on Viacoin.
I could only invest a little bit of money and after allot of reading i choose Viacoin to invest in  , and i feel that i made the right decision.
I am in it for the long run , and wish all other people who put there time , trust and money into this coin (and maybe other coins) the best of luck and allot of fortune in the future!!

[skidog]

VIA is powering on today  

Better safe than sorry, in Australia we can capitalise on our losses so we won't pay tax or income tax for that matter on the amount we have invested. If lets say I invested $50,000 and then took out $50,000 anything over $10,000 to the dollar is reported to AUSTRAC it's all about protection and anti-money laundering, the banks report everything and the taxation office knows all so there isn't any easy way to escape it.

Keep records as you can use this as your evidence, proof as such - otherwise you risk paying capital gains on your profits.

I am Ok with paying taxes. I just wish it was done in a different way. In some countries, they just tax it when you buy it and sell it. Just a flat tax...Maybe .01%.(buy and sell) Some just have no tax at all.
http://www.taipeitimes.com/News/front/archives/2015/11/18/2003632719. I am sure there are more like this.

[yvcool]

It still rising today, good investement

[Barbatos]

Like anything it's best to keep records yourself as Exchanges can and do fold and banks may close your accounts, maybe not every little thing, but certainly all fiat transfers in to exchanges, any non-trivial trades & profits/losses, plus expenses if you one day plan to cash out and deposit a decent amount in fiat to a bank in a place where you'd need to declare it as gains or income for tax purposes.

Otoh, thank you for being so transparent with the community, it is much appreciated. Your story is fascinating.

If I may ask you two questions:
1/ Are you still buying viacoins at this price?
2/ At which market capitalization do you think VIA could be in a year from now?

[romanornr]

Everyone who is using the Beta wallet. I will be fixing a lot of stuff upcoming days.
Just to be sure.

Use the stable wallet: https://github.com/viacoin/viacoin/releases/tag/v0.10.11

No blocksource available? Or 0 connections?
I wrote a small tutorial just in case: https://www.reddit.com/r/viacoin/comments/6hzri2/no_block_source_available_or_failed_to_sync/

[Eu2017]

Romano, I don't know you but..man you are amazing. Been following your coin for some time now. Respect for your hard work, realy amazing.

[skidog]

Reasons to invest in this coin? Why should a new investor buy VIA?

1.
2.
3.
etc

Please give your thoughts, and post it somewhere like Twitter, Facebook, and etc.

[dissident]

VIA is powering on today  

Better safe than sorry, in Australia we can capitalise on our losses so we won't pay tax or income tax for that matter on the amount we have invested. If lets say I invested $50,000 and then took out $50,000 anything over $10,000 to the dollar is reported to AUSTRAC it's all about protection and anti-money laundering, the banks report everything and the taxation office knows all so there isn't any easy way to escape it.

Keep records as you can use this as your evidence, proof as such - otherwise you risk paying capital gains on your profits.

I am Ok with paying taxes. I just wish it was done in a different way. In some countries, they just tax it when you buy it and sell it. Just a flat tax...Maybe .01%.(buy and sell) Some just have no tax at all.
http://www.taipeitimes.com/News/front/archives/2015/11/18/2003632719. I am sure there are more like this.

Indeed... I wish in the US there was one tax rate for capital gains, and rather than having to mess around with each transaction, you could merely take all the gains and losses from the entire year and just do a single entry. Tax time is going to be a pain in the ass. I'll worry about it at that time. :\  

VIA has caught up to my other 2 holdings that are nearby in marketcap, bitbay and blackcoin, making it my largest dollar value holding on poloniex.   There's still some big whales interested in this one.