Topic: [ANN] AIRcoin - page 23. (Read 137265 times)

Now, I wonder if the new revelations about the "Team" we are dealing with, and the ramifications of tax issues that are coming to light, will provoke some kind of response.

Beuller.....?Beuller...?Anybody?

So, lets do some math here, business-professionals of AIRcoin...


What is the University policy for, "using University resources for personal gains". (That includes teachers, students and facility hardware.) Will the University be claiming this income? I can't seem to find your "registration as an LLC", anywhere.

2,500,000 AIRcoin premine. (Coins mined, prior to public-allowance. Property/earnings of the development team.)

First public market "fair-value" date was March 14th 2014 23:00:00, at an opening price of 0.002 BTC/AIR, which places BTC's value at about $630.00.

Simple: (($630.00 USD/BTC * 0.002 BTC/AIR = $1.26 USD/AIR) * 2,500,000 AIR = $3,150,000 USD) * 20% taxes = $630,000 USD taxes owed

ALT Calc: ((2,500,000 AIR * 0.002 BTC/AIR = 5,000 BTC) * $630.00 USD/BTC = $3,150,000 USD) * 20% taxes = $630,000 USD taxes owed

Taxes due quarterly for businesses, not yearly. Ouch! (Oh wait, that quarter ended on the 31st of March. I am sure the IRS will overlook that in an audit. xD I hear the IRS is real understanding to things like that.)

Now... if that "realized income" ends-up being "realized" at only 1.5 BTC, at today's prices... That would be a "realized value", as a loss, thus, not taxable on those "gains of income". Then your "taxes" would be adjusted as such, a "loss" in "gains and losses". Just throwing some food for thought out there. (Until that is "realized", you will be forced to pay taxes on the "estimates of value", at "fair market value". You would not get money back, if later it turned into a loss. The govt. does not work that way. Since, after all, it is all 100% "mined income". You mined it.)

P.S. Didn't you also admit to making an additional 1.5 BTC from AIR... Guess that was made at a higher price than the opening 0.002 BTC/AIR. The IRS may want to adjust for that "realization of value". I'll have to ask them tonight, when I sit down to dinner with the employee living in my house. Want me to ask her anything specific?

P.P.S. I'll have a nice set of "losses" to use as tax-write-offs this year, if all goes well. But hey, that can change. (I am still sure it will. For us.)

P.P.P.S. Or the coins could be "destroyed", with a "realized value" of $0.00, thus, no income. (So, in your trade formulas, after the 20% taxes, you will have to make at-least 5% additional, to fill the "claims" of "5% constantly rising value", just to make 0% yourselves, unless you cash-out the premine, which has already been claimed in taxes. Oh, I believe the $3-million mark places you in luxury-taxes for income BTW, as a business. Not sure if the 20% us common people pay for gains and losses applies to those in "luxury tax-brackets". Might be closer to 35% for you guys, as individuals in the company. This will be interesting.)

As an "Investor", I like to know how these things are handled, before investing further. As a large holder of investment, I demand to know the answers to these things. Though, there are others with greater holdings than I. Proof required, not just statements, since, after-all, this is a "business", where essentially, by law, you are selling shares and we are "employees contracted to mine the rest of our earnings", which you said you will "control".

P.P.P.P.S. My bid is still up, to buy all of existing AIR. ("Investors" not recommended to sell at my bid-offer, only AIRteam.)

P.P.P.P.P.S. At least AIR is semi-legitimate, though, seeming to be wrapped in red-tape. I got the scissors. Turn this into a media-frenzy. Double-bonus, after the tape is cut.

P.P.P.P.P.P.S. Welcome to the world of Crypto-coins. This is not just YOUR money you are playing with. This isn't a game.

POS is a failure because it uses your CPU to mine the POS blocks. The POS blocks consume a block that should-have been a POW block. You can't control what funds "go into" a POS block, so one person would be getting POS returns on 3.72 or dust of 0.00000121 while another may have POS on 274,827 coins in a block-move. That is hardly fair, or beneficial to the network. It also MOVES coins, creating tons of uncontrollable DUST that later kill the network as all the POS from the 3.72 blocks would be moved around.

POS is a (Piece Of Shit) gimmick, and does nothing except create more coins, as a large waste to the network. Go look at a POS coin. When miners keep seeing more "Rejected" legitimate blocks, due to POS beating a POW block... they all leave. (Bottlecaps, Hobonickles)...

You forget to think about this small fact too... The more miners holding, the more POS causes a flood of trouble... The more coins you keep in an exchange, the more coins the exchange gets, cashing-out on your value, using your value. (Not to mention the liquidity issue if the exchange has those blocks locked-up in STAKE, but they have not been released for POS yet... could be a year, or a month or a week, or a day. In some cases, it could be never, as the last POS coin found-out.)

Why add such complexity and centralization stuff to a coin that should be self-sustaining, decentralized and not co-dependent. The point of these coins was to get away from banks, and "economic controls", which only favor the controllers and the bankers.

Are we reverting to communism now? lol. (You earn what I say you can earn today!)

I've been thinking what can make an "investment" system work.

As mentioned, you need initial BTC to play the market. But how do you combat inflation from mining.

I believe instead of (Proof of Work) PoW, Proof of Stake (PoS) can make an "investment" system work.

Say we are going allow to mine the coin for 2 months as PoW and, with enough marketing, the hastrate would dramatically increase during those 2 months. This will garner attention and investments from people that are not mining. After that, the "interest" from PoS will be based on the trading algorithm based on the gain on the market by the "investment team".

But the issue here is the premine. Miners will need to hold the coin and the only one that can sell easily is the Person/People who premined it. So if the Team is not trustworthy, then they just dump and drive the drive to nil.

Second problem is that people may be less incline to use PoS coins for purchase and other purposes. The hoarding mentality is there in PoS.  Without a strong trading volume and incentive, the demand for the coin will not raise. So a market for goods and services is pretty essential for a coin to work.

Let see what type of plans, if there is one, the AirTeam is going to deliver. Hopefully is worthwhile.

That price was about right, for the difficulty at the time.

The only way for price to get back to that level, would require more miners, back to that level, and above.

But miners left when people started cashing-out. Making diff fall, which made people earn more again. They cashed-out, along with everyone who mined earlier. Those who mined earlier earned hundreds in a day, like we are earning now. To them, $1.00 per coin was like earning $100-$200 a day. (Add the air-bot into the mix, which was spending coins that cost $0.00 to produce, and that was the double-edge sword in the bulls heart.)

The announcement didn't help. Due to the whole anonymous thing, and well, lack of anything to back any of the statements.

The biggest killers at the moment, are still the unnecessary ridiculous premine, and the statement of "we are going to cut the reward in half, and decrease it 1%"... Great, that drives away all the miners, and makes the issue of the "premine and early mine", even worse, and impossible to combat!

That was the opposite direction. The only way to battle early miners, is expanding reward, to compensate for the growth of the miners. So it is still harder to cash-out, but the value can not be raped by everyone early, and then again, by those when the diff falls. THAT is what reduces the damage, while still keeping a choke on earnings, to keep the price rising. (Also makes hopping less valuable to the hoppers and more beneficial to the network.)

A decimal shift would lower the premine dramatically, to semi-acceptable levels, only if the max-cap is also adjusted to produce more, which would be the same, due to the decimal shift. As a miner or a holder, we would actually see no change in value, other than it potentially going up, after those changes. (The number of coins is actually irrelevant, it is the number of blocks that is relevant to any coin, and the time to find those blocks. A coin could have 0.000001 reward or 1000000 reward, if it takes a day to find one block, both have the same value. One just has more decimals.)

Them, strangers who hide in shadows, with no proof of credentials and no actions that indicate they are actually capable... manipulating price, perhaps to give the false sens of success... That does not appeal to anyone. The earnings of future gains is NOT what determines the "coins in hand" values. That just kills the network, the network you need to KEEP GROWING, in order to have constant gains. (That is why BTC grows year after year, the network keeps growing. LTC has a fluctuating network, and thus, fluctuating reward that doesn't follow the logarithmic pattern upward trend. All these coins are exponential growth, so you HAVE to use an exponential logarithmic chart to look at value, not a linear chart.)

I am just waiting for the "V for Vendetta" masks to break-out. I have a bunch of those in bulk, by the way. I can build a team too. {NullSec}

Funny thing is... The IRS is going to LOVE that AIRteam has 2.5 million AIR coins, what is that asset value at fair market prices, on release day to the exchange? Cost them nothing to make them, so they are 100% gains, as asset-value property. That will be an interesting quarterly IRS tax-return to see. (Might be why they are hiding. Though, the LLC information, if it is real, is all the IRS needs for taxes. Being a "mint" {setting value of the coin}, also, I am sure they are FinCEN and US-Treasury registered as a MINT and an exchange and manipulate reward/earnings/mint-value. Since they are a business {LLC}, they HAVE to register. Unlike an individual personal miner, where minted coins are for personal use, not business.)

P.S. The IRS essentially lives in my house.

AIR was very promising at exchange launch, it actually seemed pretty stable at 0.002-0.0025 for a few days, then began a pretty solid decline.

We are all hopeful that Alexander and team will chime in next week

Coin never reached 0.0001? I had a buy order at 0.0001, but I see it was never filled, and now coin is going back up!  

The funny thing is this...

1: You need 0 AIR initially, to regulate the market. You need BTC. (They invested 0 BTC, that is obvious. We own this coin, they own nothing.)
2: You will never get enough BTC using sold AIR, to counter any future sales of AIR at lower prices, as that would include buying back the AIR you sold for BTC, plus the newly generated AIR.
3: If you are buying old cheap AIR to compensate a rise for future, exponentially more expensive AIR, you will not have enough to create a rise.
4: If you are buying AIR cheap, to increase value, your supply will grow beyond the premine, with every new purchase, until you just own all the AIR. (Thus the premine was not needed at all.)
5: Without BTC added to the market, there is nothing to cash-out to. There are only 3-4 pumps a month, which are short, low-volume, and if failed, have even less volume. If price is constantly rising, and it is retarded, that stops future investing. If there is no volatility, no-one wants to invest, even if the price does appear to rise steady. If the price rises steady, that encourages "cashing-out" steady. (Go back to #2)

The point they "depended on", was this, I believe... They wanted to use OTHER "rising exchanges", to trade for value, to add to AIR. (There are only two or three rising exchanges, and once they start to "cash-in" on those, they stop rising.) Unfortunately, to make AIR rise, by that method, they have to BUY AIR. Thus, they will end-up with TONS more AIR, in addition to the premine. AIR which still then has to be sold high. AIR which, there will never be enough high listings to sell all of the AIR they collect, along the way.

There is only one solution, which I have provided, to fix this whole mess. (Though I provided three solutions.)

They could still do whatever they wanted, though they will never achieve what they desire to achieve for anyone but a few people. Simply because the only way to make us all money, they would have to keep buying 100% of all generated AIR, buying more than they are selling, buying more than they hold. (Maths fail.)

They have provided no solutions to any proposed "issues" that they complained about, related to "the issues with these coins are...", yet, have actually amplified the flaws along the way. (Logic says, do the opposite, if what you are doing is not working. Try it, it works!)

So... I sit here waiting for the market to do a decent gain, and them to "take credit for it", then produce another white-paper, when it goes the opposite direction.

Marketing is needed. Not marketing, "promises of gains that can never actually be kept or backed-up". (You can't back-up anonymous gains. You might as well say you are thieves laundering money in a HYIP scam. Which, at this point, this is looking like the worlds worst planned HYIP scam ever.)

We have nothing but speculation to do. Speculating doesn't make money.

The existing support-level now, is a direct reflection of the belief of actions. (They seem to be waiting until it gets down to a $0.01/AIR, so they can afford to use that $1/AIR they took, to add $0.0005/AIR to make a penny gain 5% steady. I hope the bots are using logarithmic scales, because linear values here are not pertinent when it comes to percents and value on BTC. That is why BTC follows the path of $0.01 to $0.10 to $1.00 to $10, to $100, to $1,000, and will go to $10,000 then $100,000 etc... each major linear time-frame hike. {Though it falls short of those targets each time, thus, is actually declining in value each hike.})

Did you get that?

That, if it was not perfectly clear from the initial paper, should be abundantly clear by now.
If someone in the real
investment world made the many false claims they have made and encouraged people to invest, they might well end up in jail.
Imagine if you were running an investment scheme and you said.."I have hired a team of traders..I have consulted with economic experts and have designed an investment that just goes up."

Might want to wait until after they announce, whatever it is they are going to announce... lol.

At-least wait a few hours for the diff-level to drop to match the hash-rate. The diff is still high for the hash-rate. Should get you about 150 AIR in 24 hours soon, with that hashing-power.

That would be about $150.00 USD, if we can get this back up near the settled high. ($1.00 per AIR... Remember those days... You know, a few weeks ago. )

I have a free 24 hour mining contract of 3.6 Mhash I am sitting on. I may use it soon.

That places the value at $0.0476523 per AIR now... not much of a change, BTC went up a little since last time.

The diff is only 2.43 (160K), so you should see a nice volume of coins, more now that the hash-rate of the network just dropped down to 70MHs.

This is either going to be the biggest re-release, or, the biggest re-release. lol. One way or another, it will be re-birthed.

I am contributing all my scrypt mining power to it. Not much, 1800 Khash. I am real tempted to pull all but 360 Khash just because of the poor profitability at current prices, but since i am not really selling.... I guess I feel like I can mine something else and sell it to buy AIR at these prices. It dropped below .0001 now.

Thus the best reason to be mining the hell out of it... Someone is making enough to cash-out, even at a loss.

If you can't afford to mine it, I do suggest that you stop mining. The premine can't be cashed-out if there is nothing listed to cash-out to. (It is getting to that point.)

Those of us who still hold, know for a fact that there is only a few of us can sell any lower. Essentially, this coin is on pause until the devs return with something. My BTC supply is growing thin. Evaporating into AIR. (I live in Florida, I can stand the humidity.)

It needs to stop going down because I've spent too much money like it is. One last buy and that's it.

Speaking of which... those buy and sell orders yesterday were less than a minute apart and all were in the same value. I expect bot testing, not necessarily their bot, which is a perfect time to do it since it's cheap. The low trading volume is perfect so to not interfere with the testing. It at least made Aircoin come out of the low volume list on coinmarketcap and back into the top 100 list, if only for a day.

This is a fast-paced world, 2-weeks is like... 2-years!

For anyone who thinks they may not be able to resist... Give me all your coins until then...
I'll keep you from spending them.

I hope they are using the bots on the other coins, they would be making a killing on them. So many pumps... (I keep pulling my buy-orders on AIR, to make a few quick trades on the other coins.)

Side note: AIR is down to $0.049062 per AIR.

This seems more of a real concern.
Some kind of vulnerability possibly to KGW type coins. Don't know if this is an april fools prank or real but could be very important for the developers to know.
https://bitcointalksearch.org/topic/m.6016831