ATTENTION DevCoin Administrators
Just a heads up that all administrators listed on the Devcoin Human Resources[1] page have been contacted either via email or PM (where an email was not available) to ensure their interest to continue their involvement in the relaunch of the project.
If you are a DevCoin Admin and have not received an email or a PM please contact me via PM.
If no contact is made in three weeks from this date then it will be assumed they no longer wish to continue with their administrative duties.
- Nova
[1] https://devtome.com/doku.php?id=devcoin_human_resources
Topic: [DVC]DevCoin - Official Thread - Moderated - page 45. (Read 1058927 times)
Does it need a minimum Steemit account time to write articles about DVC? Is any mention and writing about DVC rewarded?
There is a temporary moratorium on rewards for DevTome submissions while we make adjustments to the reward system as proposed in my previous posting...
https://bitcointalksearch.org/topic/m.52186677
You do not need a STEEM account, although it is encouraged. You will need to register with a DevTome admin, which should be exaplained at
https://devtome.com
- Nova
P.S. The landing page of DevTome has been edited to announce the temporary moratorium.
According to the new Latest Rates, which I ran using 19 billion as the number of "shares" to divide it into "as if" 19 billion devcoins were in existence (being as hold I was told last time around that almost 19 billion had been minted, and it makes sense to allow for a few more than there actually are to allow for more being minted before we generate a new "Latest Rates"), the total worth of DVC Holdings now is 31,792,998,122.57928719 DeVCoins, that is, over 31 billion DeVCoins.
However, it also says that this amounts to 1.67331569 DeVCoins per share, whereas I had kind of expected it ought logically be saying that it is 1.00000000 DeVCoins per share.
The shareworth is read from the company file at the start of the calculations though, so likely we will not see the new value being used for this "company" until next time around.
So I am thinking it must be using the previous (old) DeVCoin value for computing that DeVCoins per share value.
But if that is the case, I am worried it might also be using the old value for other parts of the calculations.
It does look, from things like the price of DEUterium in DeVCoins, that DeVCoin has gone up about 1.67331569 times its previous value.
So maybe I just have to expect that each time the value per share is going to be shown based on the previous value of DeVCoins.
Other than that little weirdness, which does not show up in the online pages since we do not publish the DVC Holdings account as if it were a Corp or Company (in the Company Values listing), everything seems to have worked.
Oh and all of this still is not yet counting XGG as a reserve currency toward the value of the things that hold it.
A lot of the increase in value is due to the acquisition of more shares of GFC; it used to only hold 461 shares of GFC, now it holds 5000 of them. It also gained a lot of GMC and some of some other things since the last time we ran the Latest Rates calculations.
You can see a lot of its holdings in the HORIZON account NHZ-YC2W-ZDCP-NS4G-4CEGK
(Among the things not shown there are the shares of GHC that it holds, as we do not put GHC onto the HORIZON system because they are only for Civilisations to hold and under HORIZON we cannot restrict who you can sell assets to. The fact that it holds GHC shares tells us it definitely IS in the process of setting up a Civilisation; we just do not yet know which Civilisation, on which planet.)
-MarkM-
However, it also says that this amounts to 1.67331569 DeVCoins per share, whereas I had kind of expected it ought logically be saying that it is 1.00000000 DeVCoins per share.
The shareworth is read from the company file at the start of the calculations though, so likely we will not see the new value being used for this "company" until next time around.
So I am thinking it must be using the previous (old) DeVCoin value for computing that DeVCoins per share value.
But if that is the case, I am worried it might also be using the old value for other parts of the calculations.
It does look, from things like the price of DEUterium in DeVCoins, that DeVCoin has gone up about 1.67331569 times its previous value.
So maybe I just have to expect that each time the value per share is going to be shown based on the previous value of DeVCoins.
Other than that little weirdness, which does not show up in the online pages since we do not publish the DVC Holdings account as if it were a Corp or Company (in the Company Values listing), everything seems to have worked.
Oh and all of this still is not yet counting XGG as a reserve currency toward the value of the things that hold it.
A lot of the increase in value is due to the acquisition of more shares of GFC; it used to only hold 461 shares of GFC, now it holds 5000 of them. It also gained a lot of GMC and some of some other things since the last time we ran the Latest Rates calculations.
You can see a lot of its holdings in the HORIZON account NHZ-YC2W-ZDCP-NS4G-4CEGK
(Among the things not shown there are the shares of GHC that it holds, as we do not put GHC onto the HORIZON system because they are only for Civilisations to hold and under HORIZON we cannot restrict who you can sell assets to. The fact that it holds GHC shares tells us it definitely IS in the process of setting up a Civilisation; we just do not yet know which Civilisation, on which planet.)
-MarkM-
When do you expect GeistGeld to count into reserve? Has to be a special value to it...
develCuy : Please provide a full accounting of the share list to this thread so that we might all understand the current state and comment on the policy going forward.
-- ctya
-- ctya
Ctya, the accounting of shares of current round can be found here https://github.com/devcoin/accounting/blob/master/account_96.csv (github will gently render the CSV file in your browser). The accounting file for round 97 (the upcoming round) is here: https://github.com/devcoin/accounting/blob/master/account_97.csv. There you can see this: "Devtome Earnings: 0 Shares", it means that nobody is going receive earnings for writing content in Devtome, starting from round 97.
- develCuy
Are you sure that merely adjusting that shares to devtome total suffices to zero everyone's devtome-contributor shares?
I have generated and uploaded so maybe you should check that the results are as you intended.
-MarkM-
There are some shares for marketing and staff that will still be paid in round 97. Keeping them or no in future rounds is on the yard of Novacadian, since the team keeping Devtome alive should be busy working along Novacadian.
- develCuy
According to the new Latest Rates, which I ran using 19 billion as the number of "shares" to divide it into "as if" 19 billion devcoins were in existence (being as hold I was told last time around that almost 19 billion had been minted, and it makes sense to allow for a few more than there actually are to allow for more being minted before we generate a new "Latest Rates"), the total worth of DVC Holdings now is 31,792,998,122.57928719 DeVCoins, that is, over 31 billion DeVCoins.
However, it also says that this amounts to 1.67331569 DeVCoins per share, whereas I had kind of expected it ought logically be saying that it is 1.00000000 DeVCoins per share.
The shareworth is read from the company file at the start of the calculations though, so likely we will not see the new value being used for this "company" until next time around.
So I am thinking it must be using the previous (old) DeVCoin value for computing that DeVCoins per share value.
But if that is the case, I am worried it might also be using the old value for other parts of the calculations.
It does look, from things like the price of DEUterium in DeVCoins, that DeVCoin has gone up about 1.67331569 times its previous value.
So maybe I just have to expect that each time the value per share is going to be shown based on the previous value of DeVCoins.
Other than that little weirdness, which does not show up in the online pages since we do not publish the DVC Holdings account as if it were a Corp or Company (in the Company Values listing), everything seems to have worked.
Oh and all of this still is not yet counting XGG as a reserve currency toward the value of the things that hold it.
A lot of the increase in value is due to the acquisition of more shares of GFC; it used to only hold 461 shares of GFC, now it holds 5000 of them. It also gained a lot of GMC and some of some other things since the last time we ran the Latest Rates calculations.
You can see a lot of its holdings in the HORIZON account NHZ-YC2W-ZDCP-NS4G-4CEGK
(Among the things not shown there are the shares of GHC that it holds, as we do not put GHC onto the HORIZON system because they are only for Civilisations to hold and under HORIZON we cannot restrict who you can sell assets to. The fact that it holds GHC shares tells us it definitely IS in the process of setting up a Civilisation; we just do not yet know which Civilisation, on which planet.)
-MarkM-
However, it also says that this amounts to 1.67331569 DeVCoins per share, whereas I had kind of expected it ought logically be saying that it is 1.00000000 DeVCoins per share.
The shareworth is read from the company file at the start of the calculations though, so likely we will not see the new value being used for this "company" until next time around.
So I am thinking it must be using the previous (old) DeVCoin value for computing that DeVCoins per share value.
But if that is the case, I am worried it might also be using the old value for other parts of the calculations.
It does look, from things like the price of DEUterium in DeVCoins, that DeVCoin has gone up about 1.67331569 times its previous value.
So maybe I just have to expect that each time the value per share is going to be shown based on the previous value of DeVCoins.
Other than that little weirdness, which does not show up in the online pages since we do not publish the DVC Holdings account as if it were a Corp or Company (in the Company Values listing), everything seems to have worked.
Oh and all of this still is not yet counting XGG as a reserve currency toward the value of the things that hold it.
A lot of the increase in value is due to the acquisition of more shares of GFC; it used to only hold 461 shares of GFC, now it holds 5000 of them. It also gained a lot of GMC and some of some other things since the last time we ran the Latest Rates calculations.
You can see a lot of its holdings in the HORIZON account NHZ-YC2W-ZDCP-NS4G-4CEGK
(Among the things not shown there are the shares of GHC that it holds, as we do not put GHC onto the HORIZON system because they are only for Civilisations to hold and under HORIZON we cannot restrict who you can sell assets to. The fact that it holds GHC shares tells us it definitely IS in the process of setting up a Civilisation; we just do not yet know which Civilisation, on which planet.)
-MarkM-
develCuy : Please provide a full accounting of the share list to this thread so that we might all understand the current state and comment on the policy going forward.
-- ctya
-- ctya
Ctya, the accounting of shares of current round can be found here https://github.com/devcoin/accounting/blob/master/account_96.csv (github will gently render the CSV file in your browser). The accounting file for round 97 (the upcoming round) is here: https://github.com/devcoin/accounting/blob/master/account_97.csv. There you can see this: "Devtome Earnings: 0 Shares", it means that nobody is going receive earnings for writing content in Devtome, starting from round 97.
- develCuy
Are you sure that merely adjusting that shares to devtome total suffices to zero everyone's devtome-contributor shares?
I have generated and uploaded so maybe you should check that the results are as you intended.
-MarkM-
DevTome Relaunch
Greetings one and all!
First off allow me to thank develCuy for his trust in me to administer DevTome's relaunch and his willingness to take the lead on our DevCoin Reboot.
One big reason for asking develCuy for a temporary moratorium on rewards for new content submissions to DevTome is because my idea is to introduce a new payment structure for submissions. This idea is not etched in stone and is presented here for community feedback.
Prior to this relaunch a content creator would receive inflation shares in proportion to the word count of their submissions for that round. This worked great when there were many content creators but as submissions have slowed to a trickle the very few that are still contributing to DevTome are receiving astronomical rewards.
My thought is to introduce a reward system that pays a set amount for each word submitted. Meanwhile content that our DevTome Admins deem exceptional content will be mirrored through the https://steemit.com/@devcoin account with a share of the STEEM rewards going to the original author. Again, this is not set in stone and presented here for discussion.
How to decide the reward value
Although this idea is primarily for DevTome, it would be my preference to see it used for bounties and administration rewards as well. It is not my idea but one that is going to be deployed in STEEM's next release (HF21) and the code running the system is Open Sourced. They call it the Steem Proposal System (a/k/a SteemDAO). More details can be found at the following link:
https://steemit.com/steem/@steemitblog/hf21-sps-and-eip-explained
Basically it is a system where one can make a proposal for a project/chore/task for the community and then that idea can be voted on by the community. The top 10 proposals will receive funding from a reward pool set aside for that purpose. In the case of STEEM, voting is based on STEEM stake and accounts are known by registering on the blockchain. Because we don't have that with DevCoin my proposal would be to use our DevCoins like stake by burning them with our vote. The more DVC burnt than the greater stake would be given to that vote regardless if it were an up or downvote.
As an example perhaps one would see a proposal by me to continue to act in my current position of HR Admin and a suggestion of how much DVC is being requested by me each round in DVC to do that task. The community could then up or downvote my proposal by burning DVC. If more DVC was burnt upvoting the proposal than downvoting the proposal then it would allow me to retain my position at the agreed amount of DVC each round. Anyone at any time could make a proposal to replace me in my role of HR Admin by the same means. Or perhaps someone would propose that the amount of DVC received by me each round be lowered should the price of DVC rise substantially. Anything goes.
Making a proposal should require a certain amount of DVC be burnt in the process to avoid spammers and trolls from disrupting the system.
So that is what is in my mind for reshaping, primarily, DevTome; yet it is a system that would be my preference to see employed in all proposals and rewards in the DevCoin community/ecosystem; replacing the share model for set rewards/fees/wages in DVCs. It is presented here for community discussion and feedback.
go go Devcoin!
- Nova
Greetings one and all!
First off allow me to thank develCuy for his trust in me to administer DevTome's relaunch and his willingness to take the lead on our DevCoin Reboot.
One big reason for asking develCuy for a temporary moratorium on rewards for new content submissions to DevTome is because my idea is to introduce a new payment structure for submissions. This idea is not etched in stone and is presented here for community feedback.
Prior to this relaunch a content creator would receive inflation shares in proportion to the word count of their submissions for that round. This worked great when there were many content creators but as submissions have slowed to a trickle the very few that are still contributing to DevTome are receiving astronomical rewards.
My thought is to introduce a reward system that pays a set amount for each word submitted. Meanwhile content that our DevTome Admins deem exceptional content will be mirrored through the https://steemit.com/@devcoin account with a share of the STEEM rewards going to the original author. Again, this is not set in stone and presented here for discussion.
How to decide the reward value
Although this idea is primarily for DevTome, it would be my preference to see it used for bounties and administration rewards as well. It is not my idea but one that is going to be deployed in STEEM's next release (HF21) and the code running the system is Open Sourced. They call it the Steem Proposal System (a/k/a SteemDAO). More details can be found at the following link:
https://steemit.com/steem/@steemitblog/hf21-sps-and-eip-explained
Basically it is a system where one can make a proposal for a project/chore/task for the community and then that idea can be voted on by the community. The top 10 proposals will receive funding from a reward pool set aside for that purpose. In the case of STEEM, voting is based on STEEM stake and accounts are known by registering on the blockchain. Because we don't have that with DevCoin my proposal would be to use our DevCoins like stake by burning them with our vote. The more DVC burnt than the greater stake would be given to that vote regardless if it were an up or downvote.
As an example perhaps one would see a proposal by me to continue to act in my current position of HR Admin and a suggestion of how much DVC is being requested by me each round in DVC to do that task. The community could then up or downvote my proposal by burning DVC. If more DVC was burnt upvoting the proposal than downvoting the proposal then it would allow me to retain my position at the agreed amount of DVC each round. Anyone at any time could make a proposal to replace me in my role of HR Admin by the same means. Or perhaps someone would propose that the amount of DVC received by me each round be lowered should the price of DVC rise substantially. Anything goes.
Making a proposal should require a certain amount of DVC be burnt in the process to avoid spammers and trolls from disrupting the system.
So that is what is in my mind for reshaping, primarily, DevTome; yet it is a system that would be my preference to see employed in all proposals and rewards in the DevCoin community/ecosystem; replacing the share model for set rewards/fees/wages in DVCs. It is presented here for community discussion and feedback.
go go Devcoin!
- Nova
develCuy : Please provide a full accounting of the share list to this thread so that we might all understand the current state and comment on the policy going forward.
-- ctya
-- ctya
Ctya, the accounting of shares of current round can be found here https://github.com/devcoin/accounting/blob/master/account_96.csv (github will gently render the CSV file in your browser). The accounting file for round 97 (the upcoming round) is here: https://github.com/devcoin/accounting/blob/master/account_97.csv. There you can see this: "Devtome Earnings: 0 Shares", it means that nobody is going receive earnings for writing content in Devtome, starting from round 97.
- develCuy
Everybody, please pay careful attention. You might hate the following announcement, or maybe love it... or both!
Thanks for your support!
Thanks Qtera, ranlo, ctya, novacadian, wiser, realdantreccia and everybody who kindly supports my new role. I'll do my best to honor your trust!
That said, it is time to make some moves with my new powers...
Devtome to relaunch! But payments suspended from round 97
What?! Yes, starting from round 97, nobody will earn shares for writing. I'm aware that this might be very unpopular for some, specially the ones contributing content to Devtome on round 97! But there is a really good reason for it: Devtome is going to be relaunched! So we should hold the break for some time. Thanks for your kind understanding!
Codename: 'Devcoin reboot'
I want everybody holding a Devcoin to be sure that the admin team is not letting our beloved project to die. Actually, we want it to reboot with a growing curve! That is why the codename of our strategy is called 'Devcoin reboot'. You are warned!
Continuing the hardwork
This was a very short public update, but you should know that the admin team is working very hard behind scenes. Now I should go back to work on my Devcoin duties!
go go Devcoin!!
- develCuy
Thanks for your support!
Thanks Qtera, ranlo, ctya, novacadian, wiser, realdantreccia and everybody who kindly supports my new role. I'll do my best to honor your trust!
That said, it is time to make some moves with my new powers...
Devtome to relaunch! But payments suspended from round 97
What?! Yes, starting from round 97, nobody will earn shares for writing. I'm aware that this might be very unpopular for some, specially the ones contributing content to Devtome on round 97! But there is a really good reason for it: Devtome is going to be relaunched! So we should hold the break for some time. Thanks for your kind understanding!
Codename: 'Devcoin reboot'
I want everybody holding a Devcoin to be sure that the admin team is not letting our beloved project to die. Actually, we want it to reboot with a growing curve! That is why the codename of our strategy is called 'Devcoin reboot'. You are warned!
Continuing the hardwork
This was a very short public update, but you should know that the admin team is working very hard behind scenes. Now I should go back to work on my Devcoin duties!
go go Devcoin!!
- develCuy
Quote from: Ajpa94 link=topic=233997.msg521715exchain08#msg52171508 date=1565899288
Where should I write something so I can get some DVC? Which person should I contact?
My understanding is that there is/are exchange(s) which exchange DVC paired with BTC. Perhaps the exchanges can be found on https://devcoin.org. There are also offerings from time to time through the https://steemit.com/@devcoin account from my understanding.
P.S. Just realized that you are talking about content creation. You might find more information on https://devtome.com.
- Nova
Any news on our corporate warchest? 
Well it is not really "our" corporate warchest, really just an in-game group, working now on becoming an in-game civilisation, which aims to be a civilisation whose currency will be DeVCoins.
A major difference between the two concepts (a nation whose currency is DeVCoin versus "our" corporate warchest) is the warchest is not "ours". It is the reserves of an in-game group that hopes soon to set up as an in-game nation aka civilisation. That this group or organisation plans to designate DeVCoin as "their" currency, that is as the currency their reserves are intended to support/back, is nice for us but since it seems likely that most of you do not even have characters in the game, let alone characters who will become citizens of whatever nation it ends up being that this group will form, let alone officers of that nation's government nor officers of whatever clan, guild, society, party or suchlike the group forms in various of the game's interfaces, it cannot really be thought of as "ours".
Basically we just will have a sponsoring in-game nation, I suppose.
That said, I just ran the "Latest rates", rather late as I was away at monthend.
The latest valuation of the DVC entity is 16,186,997,650.21720041 DeVCoins, using the Latest Rates valuation of DeVCoins.
XGG is still not being counted into the valuation, the entity now holds 200,000 XGG.
-MarkM-
I'm just ribbing you dude.
I think it’s 5 years You write the same story. Unthinkingbit on a human side is a great guy, and dvc a coin with huge potential, but marketing sucks like for many other merge mined coins do. The only way for merge mined coins to survive is to unify their efforts in creating a low cost set of services, interoperability among mm coins.
Do together or die together.
Even though merged mining stopped working well for me once mmpool stopped merging most of the coins, due to my miners being too powerful for the distributed pool thing to be able to handle the hashpower, nonetheless I still work with many of the merged mined coins.
I do think it bad that for whatever reason the DeVCoin project pretty much stopped supporting other coins. If you look at the "DVC reserves" account on HORIZON you will see that the DVC entity's reserves include various of the merged-mined coins, as well as the two original scrypt coins that preceded litecoin. Allowing such coins to decline in value means the DVC Reserves decline in value, which causes the value per DeVCoin computed from those reserves to fall in value.
So it seems to me we should be supporting all those coins.
Also since it is looking likely that the diamond exchange that is conceived to be behind the standardisation of the value of the four common precious gems in the CrossCiv server will end up choosing DMD as its currency much like the DVC Reserves entitity is choosing DVC as its currency, chances are DMD will also be a "reserve currency". Worth looking at because DMD is still insanely low priced right now, down to $0.70 USD or less from its high of $40 USD or so, and soon to come out with its new version that will support tokens thus presumably be able to serve us like HORIZON and Stellar as a platform on which our reserve currencies, Corps shares and so on can be traded.
By the way I notice Stellar Lumens (XLM) are down in price too, yet few if any players seem to bother updating their offers on the Stellar platform, meaning the prices they set to sell stuff at in Lumens back when Lumens were worth more are still sitting there. Seems like some good opportunities there for arbitragers. Also IXC are dirt cheap on some exchanges compared to their buying-power on the HORIZON and Stellar platforms, more good arbitrage opportunities there probably too...
-MarkM-
Any news on our corporate warchest?
Well it is not really "our" corporate warchest, really just an in-game group, working now on becoming an in-game civilisation, which aims to be a civilisation whose currency will be DeVCoins.
A major difference between the two concepts (a nation whose currency is DeVCoin versus "our" corporate warchest) is the warchest is not "ours". It is the reserves of an in-game group that hopes soon to set up as an in-game nation aka civilisation. That this group or organisation plans to designate DeVCoin as "their" currency, that is as the currency their reserves are intended to support/back, is nice for us but since it seems likely that most of you do not even have characters in the game, let alone characters who will become citizens of whatever nation it ends up being that this group will form, let alone officers of that nation's government nor officers of whatever clan, guild, society, party or suchlike the group forms in various of the game's interfaces, it cannot really be thought of as "ours".
Basically we just will have a sponsoring in-game nation, I suppose.
That said, I just ran the "Latest rates", rather late as I was away at monthend.
The latest valuation of the DVC entity is 16,186,997,650.21720041 DeVCoins, using the Latest Rates valuation of DeVCoins.
XGG is still not being counted into the valuation, the entity now holds 200,000 XGG.
-MarkM-
I'm catching up on this thread. I hear ya, UTB, about the taxes. I recently brought all my cryptocurrency activities into compliance with the US tax code. 2017 was a lot of fun. 2018, not so much. And there are issues, like the one you mentioned about how you can owe more in taxes than what you cashed out because if you sell one coin and immediately buy another, you are liable for the capital gains on the coin you sold but you don't get to expense out the coin you bought, only use it as a basis until you sell it, so selling and reinvesting seems to be penalized at this point. And having to maintain bookkeeping software subscriptions, tax accountants, etc. all costs money and sometimes more than what you make in cryptocurrency activities. It's definitely a strange time in the industry. Incidentally, the main reason I gave up on Steemit usage (which I know DevelCuy was trying to encourage), was because it made the recordkeeping for tax purposes way too difficult to be worth it. Steem blockchain explorer just isn't easy to work with in that way and I was pulling out my hair trying to pull transaction records together. Honestly, the easiest way to maintain good records is to just export transactions from those QT wallets (good, old fashioned, solid). The better known exchanges with APIs are really helpful too.
Thank you UTB for all you've done. If it weren't for Devcoin and the Devtome, I'm sure my cryptocurrency "hobby" would have never gotten off the ground as a viable business (which I'm hoping it still is, LOL). I was able to use a lot of my Devtome earnings to get into all sorts of other cryptocurrencies, many of which have failed, but some of which are still going strong today. It's hard to believe that some of the coins I bought when they were brand new are considered "old" today.
I too support DevelCuy as new accounting admin. I'm one of the folks who host receiver files, and want to keep doing so. And I hope efforts to relaunch or reinvent Devcoin are successful. I suppose the wallet could use an update for starters.
Thank you UTB for all you've done. If it weren't for Devcoin and the Devtome, I'm sure my cryptocurrency "hobby" would have never gotten off the ground as a viable business (which I'm hoping it still is, LOL). I was able to use a lot of my Devtome earnings to get into all sorts of other cryptocurrencies, many of which have failed, but some of which are still going strong today. It's hard to believe that some of the coins I bought when they were brand new are considered "old" today.
I too support DevelCuy as new accounting admin. I'm one of the folks who host receiver files, and want to keep doing so. And I hope efforts to relaunch or reinvent Devcoin are successful. I suppose the wallet could use an update for starters.
Hi Unthinkingbit,
This note is to publicly let you know that after a long internal discussion I'm proposing myself for running accounting from round 97. It took some time, but we are finally on the same page with the admin team, which is vital to keep running this project. Thanks for your trust on the devcoin developers for holding this big responsibility. We are doing our best to honor your legacy!
Also, I want to take a moment to say thank you for the Devcoin project! Which otherwise won't be possible without your initiative, courage and hard work through all these years, even more for those things that only founders do in silence to keep the dream alive. You'll always have my profound respect and gratitude Unthinkingbit!
May we meet again.
- develCuy
Good stuff,good man.
Taxes on crypto are getting too complicated and dangerous:
https://www.reddit.com/r/tax/comments/9tcnu8/did_i_ruin_my_life_by_trading_crypto/
The problems are the following:
1. The tax code for crypto is ambiguous, there is no widely agreed upon way to calculate taxes.
2. When exchanges fail, the trading information is lost, so it can be impossible to calculate trading gains and losses.
3. Accounting fees can be very high for crypto trading, sometimes more than the actual money made.
4. It is possible to owe more in taxes than was actually cashed out.
5. The rules change, and some of those changes are retroactive, so even if taxes are filed correctly today, in future tax collectors can claim that the taxes were not filed correctly and impose arbitrary penalties.
Devcoin is worth very little, but the accounting fees and risks are still high. It's a lot of hassle for little gain.
Because of this, unfortunately, I am going to resign from devcoin, until taxes are simplified or there's a big tax free cryptocoin jurisdiction, which I don't expect to happen for a long time if ever.
I don't want anyone to get in trouble because of something I'm doing or developing. I'll do the accounting for round 94, after that devcoin developers can handle the receiver files however they want.
I'm sorry for leaving. I wish there was another way, but I don't see one.
https://www.reddit.com/r/tax/comments/9tcnu8/did_i_ruin_my_life_by_trading_crypto/
The problems are the following:
1. The tax code for crypto is ambiguous, there is no widely agreed upon way to calculate taxes.
2. When exchanges fail, the trading information is lost, so it can be impossible to calculate trading gains and losses.
3. Accounting fees can be very high for crypto trading, sometimes more than the actual money made.
4. It is possible to owe more in taxes than was actually cashed out.
5. The rules change, and some of those changes are retroactive, so even if taxes are filed correctly today, in future tax collectors can claim that the taxes were not filed correctly and impose arbitrary penalties.
Devcoin is worth very little, but the accounting fees and risks are still high. It's a lot of hassle for little gain.
Because of this, unfortunately, I am going to resign from devcoin, until taxes are simplified or there's a big tax free cryptocoin jurisdiction, which I don't expect to happen for a long time if ever.
I don't want anyone to get in trouble because of something I'm doing or developing. I'll do the accounting for round 94, after that devcoin developers can handle the receiver files however they want.
I'm sorry for leaving. I wish there was another way, but I don't see one.
Hi Unthinkingbit,
This note is to publicly let you know that after a long internal discussion I'm proposing myself for running accounting from round 97. It took some time, but we are finally on the same page with the admin team, which is vital to keep running this project. Thanks for your trust on the devcoin developers for holding this big responsibility. We are doing our best to honor your legacy!
Also, I want to take a moment to say thank you for the Devcoin project! Which otherwise won't be possible without your initiative, courage and hard work through all these years, even more for those things that only founders do in silence to keep the dream alive. You'll always have my profound respect and gratitude Unthinkingbit!
May we meet again.
- develCuy
You have my support, in this first step in the DVC relaunch, by putting yourself forward in the role of Accounting Admin. You also have my full confidence that your ideas for DVC can bring energy and focus back to the project.
Thanks for picking up the ball, Buddy!
- Nova
Hi Unthinkingbit,
This note is to publicly let you know that after a long internal discussion I'm proposing myself for running accounting from round 97. It took some time, but we are finally on the same page with the admin team, which is vital to keep running this project. Thanks for your trust on the devcoin developers for holding this big responsibility. We are doing our best to honor your legacy!
Also, I want to take a moment to say thank you for the Devcoin project! Which otherwise won't be possible without your initiative, courage and hard work through all these years, even more for those things that only founders do in silence to keep the dream alive. You'll always have my profound respect and gratitude Unthinkingbit!
May we meet again.
- develCuy
This note is to publicly let you know that after a long internal discussion I'm proposing myself for running accounting from round 97. It took some time, but we are finally on the same page with the admin team, which is vital to keep running this project. Thanks for your trust on the devcoin developers for holding this big responsibility. We are doing our best to honor your legacy!
Also, I want to take a moment to say thank you for the Devcoin project! Which otherwise won't be possible without your initiative, courage and hard work through all these years, even more for those things that only founders do in silence to keep the dream alive. You'll always have my profound respect and gratitude Unthinkingbit!
May we meet again.
- develCuy
I also support develCuy for this role.
During each of my interactions with develCuy, he has proven to be very generous, kind, thoughtful, wise, and ethical. Very much like my interactions with Unthinkingbit.
Since it seems we are all in agreement, develCuy will run accounting from round 97.
develCuy : Please provide a full accounting of the share list to this thread so that we might all understand the current state and comment on the policy going forward.
-- ctya
I think it’s 5 years You write the same story. Unthinkingbit on a human side is a great guy, and dvc a coin with huge potential, but marketing sucks like for many other merge mined coins do. The only way for merge mined coins to survive is to unify their efforts in creating a low cost set of services, interoperability among mm coins.
Do together or die together.
Give a shout out to the UNO thread as well as Name, Sys, ix, i0, even PR.
Also why not work with the scrypty AUXPOWs ... doge, via, sxc, ptc, and canada!
Taxes on crypto are getting too complicated and dangerous:
https://www.reddit.com/r/tax/comments/9tcnu8/did_i_ruin_my_life_by_trading_crypto/
The problems are the following:
1. The tax code for crypto is ambiguous, there is no widely agreed upon way to calculate taxes.
2. When exchanges fail, the trading information is lost, so it can be impossible to calculate trading gains and losses.
3. Accounting fees can be very high for crypto trading, sometimes more than the actual money made.
4. It is possible to owe more in taxes than was actually cashed out.
5. The rules change, and some of those changes are retroactive, so even if taxes are filed correctly today, in future tax collectors can claim that the taxes were not filed correctly and impose arbitrary penalties.
Devcoin is worth very little, but the accounting fees and risks are still high. It's a lot of hassle for little gain.
Because of this, unfortunately, I am going to resign from devcoin, until taxes are simplified or there's a big tax free cryptocoin jurisdiction, which I don't expect to happen for a long time if ever.
I don't want anyone to get in trouble because of something I'm doing or developing. I'll do the accounting for round 94, after that devcoin developers can handle the receiver files however they want.
I'm sorry for leaving. I wish there was another way, but I don't see one.
https://www.reddit.com/r/tax/comments/9tcnu8/did_i_ruin_my_life_by_trading_crypto/
The problems are the following:
1. The tax code for crypto is ambiguous, there is no widely agreed upon way to calculate taxes.
2. When exchanges fail, the trading information is lost, so it can be impossible to calculate trading gains and losses.
3. Accounting fees can be very high for crypto trading, sometimes more than the actual money made.
4. It is possible to owe more in taxes than was actually cashed out.
5. The rules change, and some of those changes are retroactive, so even if taxes are filed correctly today, in future tax collectors can claim that the taxes were not filed correctly and impose arbitrary penalties.
Devcoin is worth very little, but the accounting fees and risks are still high. It's a lot of hassle for little gain.
Because of this, unfortunately, I am going to resign from devcoin, until taxes are simplified or there's a big tax free cryptocoin jurisdiction, which I don't expect to happen for a long time if ever.
I don't want anyone to get in trouble because of something I'm doing or developing. I'll do the accounting for round 94, after that devcoin developers can handle the receiver files however they want.
I'm sorry for leaving. I wish there was another way, but I don't see one.
Hi Unthinkingbit,
This note is to publicly let you know that after a long internal discussion I'm proposing myself for running accounting from round 97. It took some time, but we are finally on the same page with the admin team, which is vital to keep running this project. Thanks for your trust on the devcoin developers for holding this big responsibility. We are doing our best to honor your legacy!
Also, I want to take a moment to say thank you for the Devcoin project! Which otherwise won't be possible without your initiative, courage and hard work through all these years, even more for those things that only founders do in silence to keep the dream alive. You'll always have my profound respect and gratitude Unthinkingbit!
May we meet again.
- develCuy
Awesome. +1 for this.
Taxes on crypto are getting too complicated and dangerous:
https://www.reddit.com/r/tax/comments/9tcnu8/did_i_ruin_my_life_by_trading_crypto/
The problems are the following:
1. The tax code for crypto is ambiguous, there is no widely agreed upon way to calculate taxes.
2. When exchanges fail, the trading information is lost, so it can be impossible to calculate trading gains and losses.
3. Accounting fees can be very high for crypto trading, sometimes more than the actual money made.
4. It is possible to owe more in taxes than was actually cashed out.
5. The rules change, and some of those changes are retroactive, so even if taxes are filed correctly today, in future tax collectors can claim that the taxes were not filed correctly and impose arbitrary penalties.
Devcoin is worth very little, but the accounting fees and risks are still high. It's a lot of hassle for little gain.
Because of this, unfortunately, I am going to resign from devcoin, until taxes are simplified or there's a big tax free cryptocoin jurisdiction, which I don't expect to happen for a long time if ever.
I don't want anyone to get in trouble because of something I'm doing or developing. I'll do the accounting for round 94, after that devcoin developers can handle the receiver files however they want.
I'm sorry for leaving. I wish there was another way, but I don't see one.
https://www.reddit.com/r/tax/comments/9tcnu8/did_i_ruin_my_life_by_trading_crypto/
The problems are the following:
1. The tax code for crypto is ambiguous, there is no widely agreed upon way to calculate taxes.
2. When exchanges fail, the trading information is lost, so it can be impossible to calculate trading gains and losses.
3. Accounting fees can be very high for crypto trading, sometimes more than the actual money made.
4. It is possible to owe more in taxes than was actually cashed out.
5. The rules change, and some of those changes are retroactive, so even if taxes are filed correctly today, in future tax collectors can claim that the taxes were not filed correctly and impose arbitrary penalties.
Devcoin is worth very little, but the accounting fees and risks are still high. It's a lot of hassle for little gain.
Because of this, unfortunately, I am going to resign from devcoin, until taxes are simplified or there's a big tax free cryptocoin jurisdiction, which I don't expect to happen for a long time if ever.
I don't want anyone to get in trouble because of something I'm doing or developing. I'll do the accounting for round 94, after that devcoin developers can handle the receiver files however they want.
I'm sorry for leaving. I wish there was another way, but I don't see one.
Hi Unthinkingbit,
This note is to publicly let you know that after a long internal discussion I'm proposing myself for running accounting from round 97. It took some time, but we are finally on the same page with the admin team, which is vital to keep running this project. Thanks for your trust on the devcoin developers for holding this big responsibility. We are doing our best to honor your legacy!
Also, I want to take a moment to say thank you for the Devcoin project! Which otherwise won't be possible without your initiative, courage and hard work through all these years, even more for those things that only founders do in silence to keep the dream alive. You'll always have my profound respect and gratitude Unthinkingbit!
May we meet again.
- develCuy
I want to state that I wholeheartedly agree with him taking on this role. He's got great ideas and really wants to help push this forward, and I am behind him 100%!
Jump to: