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Author Topic: [ANN][DASH] Dash (dash.org) | First Self-Funding Self-Governing Crypto Currency  (Read 9673065 times)
jdmcg
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January 02, 2021, 05:49:19 PM


How is it you need to turn off your masternode for tax purposes when DASH is roughly $90 but seemingly still ran it when DASH was $40 a year ago?

Because tax authorities don't accept unrealised gains as remittence unfortunately, so hodling is not an option for masternodes. By running one you are guaranteed a liability of around $2000 a year in my area (which is not one of the higher income tax zones) whether you cash out or not because the revenue is unearned, so it's 99% taxable. It is not compensation for the costs of supporting the Dash network (whereas mining revenue is and so is not similarly exposed to statutory selling pressure). The risk of capital loss comes on TOP of all this.

And that explains why you could run a masternode when DASH was $40 but can't when it's $90? I mean maybe you could sell the DASH your masternodes make to pay off your tax liability? And from where I come from an increase from $40 to $90 results in a capital gain.


Every alt, except perhaps ETH, has suffered a huge decrease in value vs BTC.

How long are you going to keep this mantra going ? Till 1 BTC per masternode and beyond ? Dash is in a ranking all of its own with respect to the mined list and is plummeting down through it at a slow jogging pace. Your theory is that by reducing mining we're somehow ditching "ballast" that we didn't need it and would be more economically buoyant without it.

Well be advised it's working the other way around.


More lies? I stated a fact as you quoted. You come back with again accusing me of a position I never took even though you've been corrected multiple times now. Why do you choose to be so deceptive? If your case is so good you shouldn't need to resort to these tactics.

About 6 months ago when you started this rant of yours here, DASH was a lot closer in marketcap to 2 of the mined competitors you used to list, ETC and ZEC. So now that they don't fit your theory anymore you conveniently ignore them?

And why do you add non-mined alts (ADA, FIL) to your list of mined alts? Do you think it makes your case stronger?
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jdmcg
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January 02, 2021, 06:00:31 PM

Also, several jurisdictions (Australia, Netherlands, etc) are also demanding privacy coins and Dash be delisted as a condition for banking and licensing.

Actually Dash being delisted in The Netherlands completely, is not accurate.

Only Dutch exchange Bitvavo & Dutch exchange Anycoin Direct delisted specific privacy coins (Dash, Monero, Zcash, PIVX), due to their close banking relations with
the Dutch central bank. The much bigger and more widely-used Dutch exchange Litebit.eu still has Dash listed, although they did delist Monero.

Dash listing : https://www.litebit.eu/en/buy/dash

Personally i never even heard of Bitvavo and don't trade with Anycoin Direct. Litebit.eu had problems during previous Altcoins Season (they had to close down registration
for new customers back then) and have relatively high fees in comparison to other exchanges i know of. The only advantage with using Litebit.eu is that you can buy crypto
through iDEAL payment, which only take a few minutes.

My understanding is that the DNB which permits companies/exchanges to do business in The Netherlands is now insisting among other KYC/AML measures that privacy coins, including Dash be delisted as early as this week. Multiple smaller crypto services are either complying or being shut down.

Maybe Litebit is getting an extension or is somehow able to work around this, I don't know.
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January 02, 2021, 06:00:35 PM

Because tax authorities don't accept unrealised gains as remittence unfortunately, so hodling is not an option for masternodes. By running one you are guaranteed a liability of around $2000 a year in my area (which is not one of the higher income tax zones) whether you cash out or not because the revenue is unearned, so it's 99% taxable. It is not compensation for the costs of supporting the Dash network (whereas mining revenue is and so is not similarly exposed to statutory selling pressure). The risk of capital loss comes on TOP of all this.

My advice : sell your masternode and move to another Altcoin. Your very specific tax problem solved.

The fastest way to lose money, is to listen to people that present their personal assumptions as facts
Learn from the past, set detailed and vivid goals for the future and live in the only moment of time over which you have any control : now
binaryFate
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January 02, 2021, 06:07:26 PM

Official statement from @dashpay on Twitter:

"From a technical standpoint, Dash’s privacy functionality is no greater than Bitcoin’s, making the label of “privacy coin” a misnomer for Dash"



This project has been lying for many years (and anyone scrolling to thousands of pages of this thread can verify this). Now it not only admits that it was BS, but it even professes the exact opposite.
Shame isn't a problem, when all you care for is profit.


Monero's privacy and therefore fungibility are MUCH stronger than Bitcoin's. 
This makes Monero a better candidate to deserve the term "digital cash".
qwizzie
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January 02, 2021, 06:08:49 PM
Last edit: January 02, 2021, 06:46:20 PM by qwizzie

Also, several jurisdictions (Australia, Netherlands, etc) are also demanding privacy coins and Dash be delisted as a condition for banking and licensing.

Actually Dash being delisted in The Netherlands completely, is not accurate.

Only Dutch exchange Bitvavo & Dutch exchange Anycoin Direct delisted specific privacy coins (Dash, Monero, Zcash, PIVX), due to their close banking relations with
the Dutch central bank. The much bigger and more widely-used Dutch exchange Litebit.eu still has Dash listed, although they did delist Monero.

Dash listing : https://www.litebit.eu/en/buy/dash

Personally i never even heard of Bitvavo and don't trade with Anycoin Direct. Litebit.eu had problems during previous Altcoins Season (they had to close down registration
for new customers back then) and have relatively high fees in comparison to other exchanges i know of. The only advantage with using Litebit.eu is that you can buy crypto
through iDEAL payment, which only take a few minutes.

My understanding is that the DNB which permits companies/exchanges to do business in The Netherlands is now insisting among other KYC/AML measures that privacy coins, including Dash be delisted as early as this week. Multiple smaller crypto services are either complying or being shut down.

Maybe Litebit is getting an extension or is somehow able to work around this, I don't know.

Or maybe Litebit.eu has simply registered at DNB and that was enough ?
Source : https://www.litebit.eu/en/blog/litebit-registered-with-de-nederlandsche-bank

Maybe DNB has no official control over Litebit.eu crypto listing or over any exchange crypto listing ? Just over the registration process ?
This is everything i found about DNB and its regulation of crypto service providers : https://www.toezicht.dnb.nl/en/2/50-237993.jsp
DNB never even mentions privacy coins.

Maybe some of these exchanges delist certain privacy coins despite registration at DNB, and then try to put the blame of that delisting decision towards DNB?

The fastest way to lose money, is to listen to people that present their personal assumptions as facts
Learn from the past, set detailed and vivid goals for the future and live in the only moment of time over which you have any control : now
qwizzie
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January 02, 2021, 06:23:13 PM

Good thing we have an ignore button for all these spam newbee posters.

The fastest way to lose money, is to listen to people that present their personal assumptions as facts
Learn from the past, set detailed and vivid goals for the future and live in the only moment of time over which you have any control : now
toknormal
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January 02, 2021, 06:29:15 PM
Last edit: January 02, 2021, 06:45:39 PM by toknormal


My advice : sell your masternode and move to another Altcoin. Your very specific tax problem solved.

Hey, great "promotion".

The correct answer was for the protocol to put my reward back to work to stabilise the currency, reduce my taxable gain, increase my (non-taxable) capital gain and restore Dash's competitiveness all at once.
qwizzie
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January 02, 2021, 06:47:34 PM
Last edit: January 02, 2021, 07:11:14 PM by qwizzie


My advice : sell your masternode and move to another Altcoin. Your very specific tax problem solved.

Hey, great "promotion".

The correct answer was for the protocol to put my reward back to work to stabilise the currency, reduce my taxable gain, increase my (non-taxable) capital gain and restore Dash's competitiveness all at once.

I am trying to think with you here, another solution would be to move to a more crypto-friendly country.
How is your Portugese ? Although it is more complicated for non-EU persons to settle in EU countries.  

https://www.forbes.com/sites/rogerhuang/2019/06/24/seven-countries-where-cryptocurrency-investments-are-not-taxed/?sh=4533e82b7303

Seriously though, is this something you guys would consider ? Moving to another country with a more crypto-friendly regulation, if your current country has a crypto-unfriendly regulation ?  
Taking into account that crypto usage will only grow bigger over the years worldwide. Also taking into account crypto regulation can be subject to change worldwide.

In a way it is weird that a country gets to dictate if their own crypto investors are to thrive due to crypto-friendly regulation or if their own crypto investors have to wade through crypto regulation, severly limiting them.

The fastest way to lose money, is to listen to people that present their personal assumptions as facts
Learn from the past, set detailed and vivid goals for the future and live in the only moment of time over which you have any control : now
jdmcg
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January 02, 2021, 07:13:56 PM


Or maybe Litebit.eu has simply registered at DNB and that was enough ?
Source : https://www.litebit.eu/en/blog/litebit-registered-with-de-nederlandsche-bank

Maybe DNB has no official control over Litebit.eu crypto listing or over any exchange crypto listing ? Just over the registration process ?
This is everything i found about DNB and its regulation of crypto service providers : https://www.toezicht.dnb.nl/en/2/50-237993.jsp
DNB never even mentions privacy coins.

Maybe some of these exchanges delist certain privacy coins despite registration at DNB, and then try to put the blame of that delisting decision towards DNB?

Cool, maybe DNB just requires extra measures to keep certain coins that smaller exchanges couldn't afford to implement.

I see Litebit delisted XMR and ZEC on Dec 21, although citing a completely different reason.

Not sure I understand the logic to delist privacy coins anyway, even XMR. If an exchange enforces proper KYC, I don't care how private the coin is, once you deposit/withdraw using the exchange, all that transaction info can be sent to the relevant authorities.
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January 02, 2021, 07:34:54 PM


The Reserves model that I propose DOES provide a transfer of real wealth...to cover it.

But it's a security. Not a trustless crypto.

Ho,ho,ho...  Grin ...No. A crypto with "independent" extensions...like the Cayman´s DIF. You need a million-buck magnet to get me to your ground, dear ...  Wink

If you think you're going to bang the most perfectly designed extractive machine in history bare-chested with the "intrinsic value" that a gang of retarded men can generate that get knifed for half a fucking penny, you're pretty screwed. Great evils, great remedies.

BTC was cannon fodder without Tether to face infinite fiat. The only mistake was to make up his speech. But you don't go to war loaded with roses, my friend. And DASH, without a system of reception, retention, accumulation and progressive increase of INALIENABLE wealth ... will not win even your beloved DogeCoin. It's just a ball ready to kick ... no matter how much technology you add to it.

You see ... your thesis is worth doing pirouettes in the air ... do not complain about a lack of synergy and collective spirit.  Cool

 DASH IS THE VACCINE AGAINST THE NAKAMOTO´S CANNIBALISM* ( and its extractive virus, BTC ) 

*Parasitic growth system based on the transfer of wealth through speculative bubbles (the same old scam of the fiat global elite ...in a new format)

https://discord.com/channels/370148711088652288/660351836292775936/773522887616757770
jdmcg
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January 02, 2021, 07:40:31 PM

Official statement from @dashpay on Twitter:

"From a technical standpoint, Dash’s privacy functionality is no greater than Bitcoin’s, making the label of “privacy coin” a misnomer for Dash"

This project has been lying for many years (and anyone scrolling to thousands of pages of this thread can verify this). Now it not only admits that it was BS, but it even professes the exact opposite.
Shame isn't a problem, when all you care for is profit.


Uhm, well, Dash only rebranded from Darkcoin like 6 years ago now... But I get it, even many Dash holders are still confused or in some kind of denial regarding Dash's roadmap.
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January 02, 2021, 07:43:03 PM
Last edit: January 02, 2021, 08:14:33 PM by qwizzie

Official statement from @dashpay on Twitter:

"From a technical standpoint, Dash’s privacy functionality is no greater than Bitcoin’s, making the label of “privacy coin” a misnomer for Dash"

This project has been lying for many years (and anyone scrolling to thousands of pages of this thread can verify this). Now it not only admits that it was BS, but it even professes the exact opposite.
Shame isn't a problem, when all you care for is profit.


Uhm, well, Dash only rebranded from Darkcoin like 6 years ago now... But I get it, even many Dash holders are still confused or in some kind of denial regarding Dash's roadmap.

Or are simply unaware of what Dash has been doing all these years and still think Dash only offers privacy. I came across a few of those as well, totally oblivious to Dash developments over the years.

Edit : Looks like Dogecoin's pump is converting into a dump. Always that gravity thing messing things up  Wink
Link : https://cryptowat.ch/charts/BINANCE:DOGE-USDT?period=30m

At least the pumpers got Dogecoin up to +129% this time according messari.io, breaking their previous pump record of +95%



The fastest way to lose money, is to listen to people that present their personal assumptions as facts
Learn from the past, set detailed and vivid goals for the future and live in the only moment of time over which you have any control : now
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January 02, 2021, 07:47:29 PM



But it's a security. Not a trustless crypto.

Ho,ho,ho...  Grin ...No. A crypto with "independent" extensions..

Do we have to re-rehearse the whole debate about ROI now to establish the definition of a security ?

People seem to feel free to make up their economic theories to suit their arguments in here. It can only occur in the Dash ANN thread. Outside of it people understand that ROI is measured as a fraction of what you invested, a security is an iliquid asset that's the subject of securitization and that paying dividends straight out of capital assets depletes their valuation.
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January 02, 2021, 07:59:30 PM



But it's a security. Not a trustless crypto.

Ho,ho,ho...  Grin ...No. A crypto with "independent" extensions..

Do we have to re-rehearse the whole debate about ROI now to establish the definition of a security ?

People seem to feel free to make up their economic theories to suit their arguments in here. It can only occur in the Dash ANN thread. Outside of it people understand that ROI is measured as a fraction of what you invested, a security is an iliquid asset that's the subject of securitization and that paying dividends straight out of capital assets depletes their valuation.

Well , then ... complain to RTaylor by its DIF, not to me.  Cheesy And do not look for cheat adaptations or disguises ... they are transparent and open approaches from the beginning ... no second readings.

Anyway... i also assume that you will not have a single DASH ... liable to be sanctioned by the SEC.

Don't be dramatic, man. Good design right from the start saves a lot of headaches.

Have a good weekend.  Wink

 DASH IS THE VACCINE AGAINST THE NAKAMOTO´S CANNIBALISM* ( and its extractive virus, BTC ) 

*Parasitic growth system based on the transfer of wealth through speculative bubbles (the same old scam of the fiat global elite ...in a new format)

https://discord.com/channels/370148711088652288/660351836292775936/773522887616757770
Mike323
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January 02, 2021, 08:18:50 PM
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I've always known Dash Community as the most toxic community in the crypto space. They always taunt other communities with most latest XRP from it's leader Ryan Taylor. They always basically claimed to be better than everyone and I'll admit on a technological level Dash is greatly superior than most others. But to see DOGE for once in front of DASH is a great site. Doge is greatly inferior on a tech basis but they're never trying to torment and tear down everyone else. This dash crash has happened in the midst of Ryan taunting the XRP community. That's despicable leadership and even though i feel sorry for the Dash investor, the community deserves every bit of this. Especially since the smart people like the founder left (ages ago). Dash was once seen a threat to bitcoin it ranked #3 behind ETH on Coinmarketcap. That should never happen again!
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January 02, 2021, 08:28:05 PM


So who said that restoring the mining quota would result in a sell-off of masternodes  Huh

There's now nearly 1 every 5 minutes being sold off on 1 exchange alone, going for under 3 BTC each - a 35th of their BTC price when we hit the equilibrium level of 5000 nodes. And it's not just exchange delistings that it can be blamed on because this has been continuous since we hit that level in late 2018.

Even the absolute nodecount itself is on the decline.

Maintaining a masternode network at 90% operating profit over cost paid for straight out of marketcap = try justifying that to anyone else except a group of conflicted masternode owners  Wink


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January 02, 2021, 08:31:17 PM
Last edit: January 02, 2021, 08:44:49 PM by qwizzie

Nice, finally a shorter time interval between masternode rewards.
I wonder who capitulates first, the dash/btc pair or the number of masternodes.

I am guessing the dash/btc pair, as the number of masternodes is not that volatile :



Good to see Mikey finally getting some recognition in this thread, being ignored by most Dash users for so long  Grin
Life of a troll on ignore in this forum can be difficult.

The fastest way to lose money, is to listen to people that present their personal assumptions as facts
Learn from the past, set detailed and vivid goals for the future and live in the only moment of time over which you have any control : now
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January 02, 2021, 08:44:43 PM


This project has been lying for many years (and anyone scrolling to thousands of pages of this thread can verify this). Now it not only admits that it was BS, but it even professes the exact opposite.
Shame isn't a problem, when all you care for is profit.


This has been known from Day 1.    The only difference between doing this on BTC vs DASH is that BTC required 3rd party control of your coins and Dash does not.    Mixing does provide a level of privacy.

Never has something different been implied or stated.   
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January 02, 2021, 08:48:56 PM

Looks like Bitcoin price reached the magical number $33,333 and is converting from pump to dump as well.
Oh my...

https://cryptowat.ch/charts/BITSTAMP:BTC-USD?period=30m

Will Bitcoin price recover from this dump ? Or will it dump further ?
Stay tuned...

The fastest way to lose money, is to listen to people that present their personal assumptions as facts
Learn from the past, set detailed and vivid goals for the future and live in the only moment of time over which you have any control : now
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January 02, 2021, 08:50:40 PM

Quizzie you can destroy the messenger (me) all you want but to bad you can't destroy the message (the market). Dash is proving itself less relevant every year. Now it's only a matter of time. It won't happen overnight but it's just a matter of time.
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