[ANN][KARM] Karma / ₭ / X11

[kosmost]

I've had a quick look at how the gains may be taxed but the US tax system is unwieldy and appears to tolerate loopholes and has exceptions to every rule even when the rule itself is an exception. I can see why Kosmost just wants to pay the money out in one lump sum, it is because it is simpler to deal with, however I don't think this would be best for Karmashare LLC shareholders or Karma holders.

Kosmost:
Do LLC members have to pay taxes on their distributive share of the profits if:
a) The cash has not been received yet by the LLC (revenue/profit recognition); or
b) If the funds were held by an an offshore subsidiary? Could that be set up etc?

Are Karma holders that have held Karma for 30 days "LLC members" for tax purposes or just taking part in a "special allocation"?

For most countries it sounds like I'm trying to "game the system" but in the US it appears to be "form over substance" instead of "substance over form". You'll have to forgive my 1 hour interpretation of the US tax system if I'm wrong.  

The reason I ask is because I propose that:
1. More funds be held for expenses and reinvestment by Karmashares LLC; and
2. The funds should be paid out over several quarters.

I will write a lengthy post in support of both the above points this week ignoring the tax implications.

These are questions best left to a tax professional. I do not have the answer.

[1713542631]

1713542631

[1713542631]

1713542631

[mouseman]

Hmm hmm hmm. Karma anyone?

http://coinsis.com/Card/Coinsis.html

Scroll down and watch the funny, retro music video.

The 3 Vericoin Devs making this happen:
http://vericoinnews.info/latest-news/introducing-the-vericard/

Bitcoin and Blackcoin already in beta. So, how about Karma folks?!?!?!?

https://altcoinherald.com/coinsis-rollout-full-featured-cryptocurrency-credit-card/

Although this is great worldwide, was also thinking maybe this could make the use of Karma more accessible to Argentina and Philippines. Irrespective, certainly another avenue/choice.

Good Karma to everyone!

[easteagle13]

Hmm hmm hmm. Karma anyone?

http://coinsis.com/Card/Coinsis.html

Scroll down and watch the funny, retro music video.

The 3 Vericoin Devs making this happen:
http://vericoinnews.info/latest-news/introducing-the-vericard/

Bitcoin and Blackcoin already in beta. So, how about Karma folks?!?!?!?

https://altcoinherald.com/coinsis-rollout-full-featured-cryptocurrency-credit-card/

Although this is great worldwide, was also thinking maybe this could make the use of Karma more accessible to Argentina and Philippines. Irrespective, certainly another avenue/choice.

Good Karma to everyone!

As the findings of the research by Kos, we (the KARMA coin) is in much better position to do these kind of things because of the inherent design:

1. Number of usable coins without needing to use decimal places, which can be cumbersome on mobile phones(non-smart)
2. The TX fee which is about thousands if not millions of times larger if done in Bitcoin and almost zero if done with Karma.
3. Karma is well known in Asian countries, so introducing to them a digital money in the form of karma coin will have a better reception compared to Bitcoin

So let us wait for the next good news coming from kos' activities, he mentioned in passing that he plans to travel to find in depth information on the target markets.
Good Karma to everyone.

[ryannguyen18]

GO KARMA 

[ryannguyen18]

Hmm hmm hmm. Karma anyone?

http://coinsis.com/Card/Coinsis.html

Scroll down and watch the funny, retro music video.

The 3 Vericoin Devs making this happen:
http://vericoinnews.info/latest-news/introducing-the-vericard/

Bitcoin and Blackcoin already in beta. So, how about Karma folks?!?!?!?

https://altcoinherald.com/coinsis-rollout-full-featured-cryptocurrency-credit-card/

Although this is great worldwide, was also thinking maybe this could make the use of Karma more accessible to Argentina and Philippines. Irrespective, certainly another avenue/choice.

Good Karma to everyone!

Karma card will be in future !!!

Check this out https://gogocoin.com/, we can learn from them...

[easteagle13]

I believe that Karma community have the very good "brains" (if not the best) in crypto world.

Now that the budget for API building has been voted upon we need someone a karma supporter to step up to do this work.

What do karma need?

API
SHARE Explorer
Mobile wallet (android, window and apple mobile OS)
SMS app to be able to securely do transactions using non smart phones
A market enabled wallet-
     -Wallet where you can send and receive encrypted messages
     -LLC related communications
     -Home forum, karmawire updates

The above is listed by PRIORITY, we have to finish the first listed before doing the next one.

We would like to hire someone from the community first, but if there is no one available, a personally known dev by a karma supporter would be preferred, these projects are very sensitive to entrust to just any guy who would volunteer from outside our community. So additional credentials will be required.

If you feel it's good karma to get involved post here: http://karmashares.com/forums/index.php/topic,577.msg3502.html#msg3502 so that we can coordinate our efforts.

Thanks, good Karma to everyone. YES Ask your friends if they GOT KARMA?

[kosmost]

Hey, everyone. I've been a bit sick lately but am hoping to start posting again in a couple of days.

and don't forget... price < value

We've got some great ideas, but need help executing them. For example: http://www.reddit.com/r/Karmashares/comments/2d7yol/the_developing_world_karmas_opportunity_for/

we will do what it takes to make Karma work! real users is where it's at.

[easteagle13]

Hey, everyone. I've been a bit sick lately but am hoping to start posting again in a couple of days.

and don't forget... price < value

We've got some great ideas, but need help executing them. For example: http://www.reddit.com/r/Karmashares/comments/2d7yol/the_developing_world_karmas_opportunity_for/

we will do what it takes to make Karma work! real users is where it's at.

We hope you're feeling fine by now, Kos the over-exertion return of illness is usually worst, so if you need to rest a bit more, please take the necessary time.

[bondi]

Hey, everyone. I've been a bit sick lately but am hoping to start posting again in a couple of days.

and don't forget... price < value

We've got some great ideas, but need help executing them. For example: http://www.reddit.com/r/Karmashares/comments/2d7yol/the_developing_world_karmas_opportunity_for/

we will do what it takes to make Karma work! real users is where it's at.

Get well soon!

[ryannguyen18]

Hey, everyone. I've been a bit sick lately but am hoping to start posting again in a couple of days.

and don't forget... price < value

We've got some great ideas, but need help executing them. For example: http://www.reddit.com/r/Karmashares/comments/2d7yol/the_developing_world_karmas_opportunity_for/

we will do what it takes to make Karma work! real users is where it's at.

Kos, take a rest and get well 1st...

[mouseman]

Stay frosty boss.

Hey, everyone. I've been a bit sick lately but am hoping to start posting again in a couple of days.

and don't forget... price < value

We've got some great ideas, but need help executing them. For example: http://www.reddit.com/r/Karmashares/comments/2d7yol/the_developing_world_karmas_opportunity_for/

we will do what it takes to make Karma work! real users is where it's at.

[UrsaMajorisBeta]

I posted this yesterday at karmashares and reddit forums

"So I was doing a little research about what could be positive for karma in the future. Well, it happens that you should totally check out this! https://www.facebook.com/jinyoung.park.1612147 This person has an ongoing project in the Philippines, and it's called 37 coins. It focuses in bringing btc to the unbanked at that country. Maybe we could talk to her about karma and the advantages of it against BTC as an easy to transfer sms currency! https://medium.com/philippines-trip/start-of-the-trip-31e667c56826 I saw her public post at https://www.facebook.com/MITBitcoinClub (May 15th) I hope this helps a little."

[KarmaKaguy]

Hey, everyone. I've been a bit sick lately but am hoping to start posting again in a couple of days.

and don't forget... price < value

We've got some great ideas, but need help executing them. For example: http://www.reddit.com/r/Karmashares/comments/2d7yol/the_developing_world_karmas_opportunity_for/

we will do what it takes to make Karma work! real users is where it's at.

Get well soon. Are you at home?

[clayop]

I asked friends of mine who own KARM about that they can become shareholders if they hold KARM in their qt wallet at least a month.

All of them don't recognize this fact.

I think one problem is that investors don't know this policy so that they leave their KARM in exchanges. So we should notify about this on BCT main post and other media (such as karmawire).

Another problem imo is that holding a month is a little bit ambiguous, compared with a snapshot. If we take snapshot, we can ask exchanges to take snapshots as like the cases of bter and btc38 (with bitshares). A potential problem can be price fluctuation, but I think this is better than holding-a-month policy because the latter is less clear and hard to cope with exchange problems.

[ryannguyen18]

http://cointelegraph.com/news/112352/ripple-gets-instant-deposits-from-us-banks-sets-sights-on-asian-remittances-market

[ryannguyen18]

1) http://cointelegraph.com/news/112352/ripple-gets-instant-deposits-from-us-banks-sets-sights-on-asian-remittances-market

2) https://www.37coins.com/en/

3) http://cryptocards.co/

4) http://thenextweb.com/asia/2012/11/20/tencent-to-integrate-tenpay-into-wechat-bringing-mobile-payments-to-the-apps-200m-users/

[parker928]

good choice forking to x11

[blg425]

I held about 11 million coins since July 24th. I don't see my address on the list. Who do I contact to add my shares?

[infested999]

1) http://cointelegraph.com/news/112352/ripple-gets-instant-deposits-from-us-banks-sets-sights-on-asian-remittances-market

> 2014

> Still mentioning Ripple

[pac]

I held about 11 million coins since July 24th. I don't see my address on the list. Who do I contact to add my shares?

The list you are referring to is only for people who exchanged coins for shares by sending their coins to the LLC, not for people who hold coins in their wallet for more than 30 days.