Topic: [ANN][SILKCOIN][DARKSILK PREANN][TESTING STORMNODES/DarkSIlk MARKET/I2P] - page 6. (Read 289517 times)

Same Xtrata... I did my research and the devs are really making some good progresses with good communication to the community. This last thing is rarely seen in altcoins. Praying for a slight drop to get one more last chance of cheap coins. Don't think we'll see 3 figure satoshi prices (xxx) ever again

I wish I had more BTC to buy Silkcoin...

You say this while humbling yourself by downplaying the importance of it. Sure its not a partneship or team-up with Microsoft. But what it does mean is that the underlying code the silk network uses is legit and verified.

It means that the Silk project is a real contender going after top coins!
Something for investors to consider at this low price point.

I know that you want a company to show that you are a bunch of honest ppl. What I have seen so far from other work is that you are that. Starting a company with crypto means a lot of other work and papers and declarations. I have not any problems with investing some in darksilk coin when it is released. I dont invest in Dash or other shitcoins.

Good luck with your work. I dont invest in coins, I invest in ppl behind it.

I would just like everyone to be aware that we are taking everything into account and had looked into taxation and declaration of tax prior to registering Silk Network as a Ltd on the 21st of December 2015.

Bottom line is this, we are not a bunch of children playing with peoples investments and time.

Running at loss dont mean that you dont have to declare tax. It means that you dont have to pay tax. Even if you dont use a single coin of fiat you have to send in your declaration.  You can avoid paying taxes by using servers paid with bitcoins and other things. Sometimes it is good to use fiat because you can take out same amount of fiat that you put into the company with some rent. As devs you can decide to put in fiat money or bitcoin this year and next year you can take them out if the companiy goes well.

Government can decide to tax you anyway even if you dont use fiat. Rules changes and there are not much guidlines.

One excample of something ppl dont know much: One person sells some coins that can not be used in real life,he sells it on auction sites. He dont pay tax for it and its good. Then he do 30 auctions and the government wants tax from him because they say he should have a company to do that or its to much to be considered normal without declaration.

OK, but remember in the UK we declare the income of the company. Right now we don't even have a UK or any business bank account. We cannot take FIAT, it is impossible. No account, nothing to declare, means no tax.

Also on top of this if our own personal expenditure on servers etc. is taken as company outgoings then we are in fact running at a loss, again, this would mean, no tax.

So.....

Have to write this:

All ppl dont have to declare tax but all companies have too declare taxes.
As a person that do some small trading you can avoid being taxed if you use an exchange that only deals with crypto. If you move your crypto over to fiat money then you have to declare tax but not pay tax if its under the minimum levels of income. A exchange that deals with crypto only and are an company cant avoid to declare taxes.

UK an my country have not put up much guidlines for crypto. They are still unsure about how to deal with crypto and there is a large amount of ppl that are just satoshi trading. If something happens they will use old laws as a base of decisions.

US rregulations spill over to other countries and if you have US costumers then you have to be more carefull because US government applies their laws to you also.

So, let us get this clear before you look at the image below and all get overly excited.

This is NOT a partnership with Microsoft, it is NOT a teaming up with Microsoft.

All other coins that have done the same as this i.e. SysCoin, Dash, Ethereum have all signed the exact same document.

Yes, this is very good and yes it is very very useful to be on the Microsoft Azure cloud and have a one press setup for nodes, BUT, this should not influence price of any coin, because, any coin can do this, it isn't anything special.

Welcome to the UK

Some thoughts i have on the article:


1. As a business, you can expect Silk Network .Ltd to exploit the platform under their control. For its services VAT should be included in price. The same does not apply to trading crypto assets it merely means products and/or services that support the process i.e. hosting. And tax should be paid on profit like any other business. I see no problem with taxation, Silk Network .Ltd is a business.

2. Knowing spencer the technology being used is actually aimed at protecting the consumer. It is one of his spearpoints so our confidence should be in the abilities of this development group.

3. On money laundering nothing is formally written down but I will get to that

• Talking with other organizations i can see they are franticly trying to comply with regulations that arent even there. All in fear of being put out of business, this mentality is an hindraence
• Common sense and a good sense of moral obligations should protect us because laws are based on the same set of ideals. The hived mind of the community will always be able to have a reasonable voice in communicating with lifeless institutions or counter sets of regulatory rules if they themselves are unreasonable. Reason is King.

So I guess the responsibility in personal taxation lies solely with the holder of capital and not the facilitator of services, corresponding to point 3. mentioned earlier...


If we do not accept fiat, and users with btc came from fiat through said businesses then you could say that we are depedent on them. This depedence only outsources the function of customer due diligence it does not weaken the process. In other words if we are not actively selling DrkSlk for Fiat, thus being a gatekeeper with (actually still without) compliance rules. This should not be an issue. Once in BTC they could opt for all kinds of anonymous coins like DrkSlk, no regulatory force could keep this in check. But more importantly personal privacy is the thing we actually want to achieve for citizens.

Now trading Silk for Fiat and vice versa should not be a problem it is, much like the bitcoin, a clearnet technology. Once in this domain you are free to spend it on any privacy protecting coin like DrkSlk. This is a seperate process and as mentioned above there are no formal obligations to take any steps to prevent money laundering. Again, responsibility in personal taxation lies solely with the holder of capital; or do you feel that I am allowed to look into your personal wallet and give this information to third parties?

I hope you all can see the importance of Silk in light of this revealing situation. Something the dev might actually not have thought about himself, or maybe he bested me in this line of reasoning who knows  

FUD this troll.

Couldn't be a better place to register SilkNet at this point.

http://www.coindesk.com/bitcoin-regulation-uk/

They won't even have to pay VAT on the bitcoin exchanges or know who we are... Come on man.. You can fud better than that. One google search, i didn't even have to wait for friends to get up over the pond. Even had a coffee and a smoke break. Still got to facts before you.

Silk and DarkSilk will be traded on Poloniex. They will also be traded on Weaver. You are not forced to move your coins or, for that matter, even use Weaver. But on polo you have to trade btc. On weaver you can trade slk for drkslk

Easy... your posts won't be deleted and I'm interested in hearing you out. But i don't think the public sphere is suited for continuing this conversation.

You do need to read back. This all started 2 years ago. You probably won't be employed as a funds manager if you keep investing before you do research. I plan on doing some reading and chatting with some people i know, to see how much hot air you are trying to blow. But how can anyone take your comments seriously when you already made questionable decisions in buying before you knew what you were buying. That cert of registry has been posted for AGES!

His tally of the total is what people have donated, or spent from their own pocket. Not even from the purchase or sale of silkcoin. SilkNet has happened because the community deemed it so. Not because of a long ago presale, or money taken from investors.. READ BACK MAN!

And what does that have to do with anything? You know that you need to gain money to pay taxes for them right? As far as I know they will not take money from exchanging between the currencies so I really dont understand where you want to go with this.

You better backup what you say if you don't want to be called fudder. You got a new account with 2 types of posts. 1 loving Monero and 2 bashing Silkcoin without proof of ur "facts". If you want to be taken seriously you better show your facts.

FUD already starting to creep in! lol

Looks like we are doing something right! 

You are making urself looking like one when you do 3 posts after each other and dont backup what you say and claim others should.

Make sure to use PGP (Pretty Good Pigeon)!!