pools, we need pools before launch！
I'll have one open for launch.
I wanna open a pool, but i need help. Give me the steps please.
Topic: [XSV] ★★ Silicon Valley Coin ★★ | ✈ MailDrop | Video Proof ✔ | Vote MintPal★ - page 2. (Read 83770 times)
April 09, 2014, 01:57:09 PM
I'll have one open for launch.
I wanna open a pool, but i need help. Give me the steps please.
April 09, 2014, 01:46:39 PM
Looks like Isracoin is showing you how its done. 
Isracoin has the same dev as Marinecoin...dump incoming.
April 09, 2014, 01:19:56 PM
Looks like Isracoin is showing you how its done.
April 08, 2014, 04:16:50 PM
XSV is in this article unless that's what the giveaway was about
http://theweek.com/article/index/259426/from-boobs-to-bill-murray-9-digital-currencies-you-should-know-about
http://theweek.com/article/index/259426/from-boobs-to-bill-murray-9-digital-currencies-you-should-know-about
Nice, this is a new one. No giveaway had nothing to do with this. Good Find.
April 08, 2014, 04:52:15 AM
I'm starting to think people are being paid to post FUD in these threads... I've seen these kind of tactics used on facebook when a page or group tries to support a cause that goes against the status quo... Well, here we go again
+1 https://bitcointalksearch.org/topic/m.6039800
THE IPO IS CANCELLED DUE TO NEGATIVE ACTIVITY FORM FRAUDULENT USERS! ALL BTC PAID WILL BE REFUNDED TO USERS.
There is a network of scammers that post bad things about a coin and then demand BTC to erase the posts: scam_exposer and sitefive.
This is the proof a PM sent to us, now they demand us BTC to erase all those posts:
Now we know what were they real reasons. I hope that maybe that is not the real reason and they can apologise now for the things they said. That will prove them to be not scammers and maybe they were just wrong about us.
We are now just going to launch the coin without an IPO. We have erase the IPO from main post. Just to proof these people they were doing lies and trying to make schemes with posting bad stuff then demand BTC to erase the posts. We will launch the coin!
As soon as we communicate with our web developer will update the site about it too.
EDIT: thimo is not part of this PMs, please don't hold anything bad about him or post bad things in his thread. We wish them good luck with their coin. Our apologies.
There is a network of scammers that post bad things about a coin and then demand BTC to erase the posts: scam_exposer and sitefive.
This is the proof a PM sent to us, now they demand us BTC to erase all those posts:
Now we know what were they real reasons. I hope that maybe that is not the real reason and they can apologise now for the things they said. That will prove them to be not scammers and maybe they were just wrong about us.
We are now just going to launch the coin without an IPO. We have erase the IPO from main post. Just to proof these people they were doing lies and trying to make schemes with posting bad stuff then demand BTC to erase the posts. We will launch the coin!
As soon as we communicate with our web developer will update the site about it too.
EDIT: thimo is not part of this PMs, please don't hold anything bad about him or post bad things in his thread. We wish them good luck with their coin. Our apologies.
can't say i'm surprised although I don't believe anyone has the skills to act as retarded as they are. I think they kinda just realized they were dumb and then tried to find away to make money from it.
Oh shit!!!! Scam exposer EXPOSED!!!!!
ROFL! What a dumbass...this made my night.
Exposed!
April 08, 2014, 03:16:14 AM
Even More Voucher Proof!
Here is a video to go along with the pics
https://www.youtube.com/watch?v=AZF1ercXtSI
Here is a video to go along with the pics
https://www.youtube.com/watch?v=AZF1ercXtSI
April 07, 2014, 10:52:10 PM
I'm starting to think people are being paid to post FUD in these threads... I've seen these kind of tactics used on facebook when a page or group tries to support a cause that goes against the status quo... Well, here we go again
+1 https://bitcointalksearch.org/topic/m.6039800
THE IPO IS CANCELLED DUE TO NEGATIVE ACTIVITY FORM FRAUDULENT USERS! ALL BTC PAID WILL BE REFUNDED TO USERS.
There is a network of scammers that post bad things about a coin and then demand BTC to erase the posts: scam_exposer and sitefive.
This is the proof a PM sent to us, now they demand us BTC to erase all those posts:
Now we know what were they real reasons. I hope that maybe that is not the real reason and they can apologise now for the things they said. That will prove them to be not scammers and maybe they were just wrong about us.
We are now just going to launch the coin without an IPO. We have erase the IPO from main post. Just to proof these people they were doing lies and trying to make schemes with posting bad stuff then demand BTC to erase the posts. We will launch the coin!
As soon as we communicate with our web developer will update the site about it too.
EDIT: thimo is not part of this PMs, please don't hold anything bad about him or post bad things in his thread. We wish them good luck with their coin. Our apologies.
There is a network of scammers that post bad things about a coin and then demand BTC to erase the posts: scam_exposer and sitefive.
This is the proof a PM sent to us, now they demand us BTC to erase all those posts:
Now we know what were they real reasons. I hope that maybe that is not the real reason and they can apologise now for the things they said. That will prove them to be not scammers and maybe they were just wrong about us.
We are now just going to launch the coin without an IPO. We have erase the IPO from main post. Just to proof these people they were doing lies and trying to make schemes with posting bad stuff then demand BTC to erase the posts. We will launch the coin!
As soon as we communicate with our web developer will update the site about it too.
EDIT: thimo is not part of this PMs, please don't hold anything bad about him or post bad things in his thread. We wish them good luck with their coin. Our apologies.
can't say i'm surprised although I don't believe anyone has the skills to act as retarded as they are. I think they kinda just realized they were dumb and then tried to find away to make money from it.
Oh shit!!!! Scam exposer EXPOSED!!!!!
ROFL! What a dumbass...this made my night.
Exposed!
April 07, 2014, 10:04:32 PM
I'm starting to think people are being paid to post FUD in these threads... I've seen these kind of tactics used on facebook when a page or group tries to support a cause that goes against the status quo... Well, here we go again
+1 https://bitcointalksearch.org/topic/m.6039800
THE IPO IS CANCELLED DUE TO NEGATIVE ACTIVITY FORM FRAUDULENT USERS! ALL BTC PAID WILL BE REFUNDED TO USERS.
There is a network of scammers that post bad things about a coin and then demand BTC to erase the posts: scam_exposer and sitefive.
This is the proof a PM sent to us, now they demand us BTC to erase all those posts:
http://s16.postimg.org/hohih3nr9/scamx.jpg
Now we know what were they real reasons. I hope that maybe that is not the real reason and they can apologise now for the things they said. That will prove them to be not scammers and maybe they were just wrong about us.
We are now just going to launch the coin without an IPO. We have erase the IPO from main post. Just to proof these people they were doing lies and trying to make schemes with posting bad stuff then demand BTC to erase the posts. We will launch the coin!
As soon as we communicate with our web developer will update the site about it too.
EDIT: thimo is not part of this PMs, please don't hold anything bad about him or post bad things in his thread. We wish them good luck with their coin. Our apologies.
There is a network of scammers that post bad things about a coin and then demand BTC to erase the posts: scam_exposer and sitefive.
This is the proof a PM sent to us, now they demand us BTC to erase all those posts:
http://s16.postimg.org/hohih3nr9/scamx.jpg
Now we know what were they real reasons. I hope that maybe that is not the real reason and they can apologise now for the things they said. That will prove them to be not scammers and maybe they were just wrong about us.
We are now just going to launch the coin without an IPO. We have erase the IPO from main post. Just to proof these people they were doing lies and trying to make schemes with posting bad stuff then demand BTC to erase the posts. We will launch the coin!
As soon as we communicate with our web developer will update the site about it too.
EDIT: thimo is not part of this PMs, please don't hold anything bad about him or post bad things in his thread. We wish them good luck with their coin. Our apologies.
can't say i'm surprised although I don't believe anyone has the skills to act as retarded as they are. I think they kinda just realized they were dumb and then tried to find away to make money from it.
Oh shit!!!! Scam exposer EXPOSED!!!!!
April 07, 2014, 09:49:14 PM
I'm starting to think people are being paid to post FUD in these threads... I've seen these kind of tactics used on facebook when a page or group tries to support a cause that goes against the status quo... Well, here we go again
+1 https://bitcointalksearch.org/topic/m.6039800
THE IPO IS CANCELLED DUE TO NEGATIVE ACTIVITY FORM FRAUDULENT USERS! ALL BTC PAID WILL BE REFUNDED TO USERS.
There is a network of scammers that post bad things about a coin and then demand BTC to erase the posts: scam_exposer and sitefive.
This is the proof a PM sent to us, now they demand us BTC to erase all those posts:
http://s16.postimg.org/hohih3nr9/scamx.jpg
Now we know what were they real reasons. I hope that maybe that is not the real reason and they can apologise now for the things they said. That will prove them to be not scammers and maybe they were just wrong about us.
We are now just going to launch the coin without an IPO. We have erase the IPO from main post. Just to proof these people they were doing lies and trying to make schemes with posting bad stuff then demand BTC to erase the posts. We will launch the coin!
As soon as we communicate with our web developer will update the site about it too.
EDIT: thimo is not part of this PMs, please don't hold anything bad about him or post bad things in his thread. We wish them good luck with their coin. Our apologies.
There is a network of scammers that post bad things about a coin and then demand BTC to erase the posts: scam_exposer and sitefive.
This is the proof a PM sent to us, now they demand us BTC to erase all those posts:
http://s16.postimg.org/hohih3nr9/scamx.jpg
Now we know what were they real reasons. I hope that maybe that is not the real reason and they can apologise now for the things they said. That will prove them to be not scammers and maybe they were just wrong about us.
We are now just going to launch the coin without an IPO. We have erase the IPO from main post. Just to proof these people they were doing lies and trying to make schemes with posting bad stuff then demand BTC to erase the posts. We will launch the coin!
As soon as we communicate with our web developer will update the site about it too.
EDIT: thimo is not part of this PMs, please don't hold anything bad about him or post bad things in his thread. We wish them good luck with their coin. Our apologies.
April 07, 2014, 09:48:18 PM
I'm starting to think people are being paid to post FUD in these threads... I've seen these kind of tactics used on facebook when a page or group tries to support a cause that goes against the status quo... Well, here we go again
Nobody pays me anything. This coin has been a scam from the start.
As far as FinCEN requirements, the wording is rather ambiguous and could be interpreted differently by different individuals/ entities. Silicon Valley coin is basically transmitting a virtual currency and could be classified as a money transmitter. We'll see how this plays out but like I already stated, I doubt that the mail drops will even happen.
April 07, 2014, 09:09:22 PM
I'm starting to think people are being paid to post FUD in these threads... I've seen these kind of tactics used on facebook when a page or group tries to support a cause that goes against the status quo... Well, here we go again
April 07, 2014, 08:14:07 PM
Too everyone saying XSV may be in violation of Fincen regulations...
Crypto has been recognized as PROPERTY! Not currency.
Go spread your fud somewhere else.
Crypto has been recognized as PROPERTY! Not currency.
Go spread your fud somewhere else.
Facts are not fud. You are obviously not very knowledgeable on the subject. You are referring to the IRS. That has nothing to do with FinCEN requirements. And according to the IRS, anyone redeeming XSV will be required to claim the value on their tax returns. Yeah that's going to work out real well.
This coin can't work because of the issues I have pointed out.
No FinCEN registration = In violation of Department of Treasury
Recipients required to claim value of property in federal tax filings
http://www.irs.gov/pub/irs-drop/n-14-21.pdf
Q-1: How is virtual currency treated for federal tax purposes?
A-1: For federal tax purposes, virtual currency is treated as property. General tax principles applicable to property transactions apply to transactions using virtual currency.
Q-3: Must a taxpayer who receives virtual currency as payment for goods or
services include in computing gross income the fair market value of the virtual
currency?
A-3: Yes. A taxpayer who receives virtual currency as payment for goods or services
must, in computing gross income, include the fair market value of the virtual currency,
Do your research bro...
Fincen Regulations for Virtual Currencies: http://www.complianceweek.com/new-fincen-guidance-clarifies-corporate-bitcoin-requirements/article/332667/
From the article:
“The production and distribution of software, in and of itself, does not constitute acceptance and transmission of value, even if the purpose of the software is to facilitate the sale of virtual currency,” FinCEN wrote. As a result, the software would not make the company a money transmitter.
And Finally, might want to do some current events for Bitcoin:
http://bitcoinvista.com/2014/04/05/announcing-free-bitcoins-inside-bitcoins-new-york-to-giveaway-prepaid-bitcoin-cards-to-attendees/
I don't think Bitcoin is registered with FinCEN =)
Did you read the links you posted?
Bitcoin isn't transmitting bitcoin to people like SiliconValley is doing.
The first ruling states that if a user creates or “mines” a convertible virtual currency solely for their own purposes, they are not a money transmitter under the BSA. The second ruling clarifies that a company purchasing and selling virtual currency as an investment exclusively for the its own benefit is also not considered to be a money transmitter.
The rulings further interpret guidance issued in March 2013. That guidance made it clear that, from FinCEN's perspective, an administrator or exchanger of conveyable virtual currencies that accepts and transmits it, or buys or sells it in exchange for legal tender or another virtual currency for any reason (including intermediating between a user and a seller of goods or services the user is purchasing on the user's behalf) is considered a money transmitter for regulatory purposes.
These guys will essentially be money transmitters and fall under FinCen requirements. Doesn't matter anyway since these guys have no intention of doing the maildrop anyway.
"accepts and transmits" is where I assume your argument lies so, if it said "accepts or transmits" you would have a point, but with it being AND, the devs would have to be receiving coins from Silicon Valley to call them "Money Transmitters".
Might also want to check your definition of "Administrator":
An administrator is a person engaged as a business in issuing (putting into circulation) a virtual currency, and who has the authority to redeem (to withdraw from circulation) such virtual currency.
Here comes another AND! The devs would need to have the authority to withdrawl XSV from circulation, which is impossible once said coins leave the pre-mined address!
Nice Try, Learn some basic legal jargon before attempting to use it in your arguments =)
April 07, 2014, 08:01:23 PM
Too everyone saying XSV may be in violation of Fincen regulations...
Crypto has been recognized as PROPERTY! Not currency.
Go spread your fud somewhere else.
Crypto has been recognized as PROPERTY! Not currency.
Go spread your fud somewhere else.
Facts are not fud. You are obviously not very knowledgeable on the subject. You are referring to the IRS. That has nothing to do with FinCEN requirements. And according to the IRS, anyone redeeming XSV will be required to claim the value on their tax returns. Yeah that's going to work out real well.
This coin can't work because of the issues I have pointed out.
No FinCEN registration = In violation of Department of Treasury
Recipients required to claim value of property in federal tax filings
http://www.irs.gov/pub/irs-drop/n-14-21.pdf
Q-1: How is virtual currency treated for federal tax purposes?
A-1: For federal tax purposes, virtual currency is treated as property. General tax principles applicable to property transactions apply to transactions using virtual currency.
Q-3: Must a taxpayer who receives virtual currency as payment for goods or
services include in computing gross income the fair market value of the virtual
currency?
A-3: Yes. A taxpayer who receives virtual currency as payment for goods or services
must, in computing gross income, include the fair market value of the virtual currency,
Do your research bro...
Fincen Regulations for Virtual Currencies: http://www.complianceweek.com/new-fincen-guidance-clarifies-corporate-bitcoin-requirements/article/332667/
From the article:
“The production and distribution of software, in and of itself, does not constitute acceptance and transmission of value, even if the purpose of the software is to facilitate the sale of virtual currency,” FinCEN wrote. As a result, the software would not make the company a money transmitter.
And Finally, might want to do some current events for Bitcoin:
http://bitcoinvista.com/2014/04/05/announcing-free-bitcoins-inside-bitcoins-new-york-to-giveaway-prepaid-bitcoin-cards-to-attendees/
I don't think Bitcoin is registered with FinCEN =)
Did you read the links you posted?
Bitcoin isn't transmitting bitcoin to people like SiliconValley is doing.
The first ruling states that if a user creates or “mines” a convertible virtual currency solely for their own purposes, they are not a money transmitter under the BSA. The second ruling clarifies that a company purchasing and selling virtual currency as an investment exclusively for the its own benefit is also not considered to be a money transmitter.
The rulings further interpret guidance issued in March 2013. That guidance made it clear that, from FinCEN's perspective, an administrator or exchanger of conveyable virtual currencies that accepts and transmits it, or buys or sells it in exchange for legal tender or another virtual currency for any reason (including intermediating between a user and a seller of goods or services the user is purchasing on the user's behalf) is considered a money transmitter for regulatory purposes.
These guys will essentially be money transmitters and fall under FinCen requirements. Doesn't matter anyway since these guys have no intention of doing the maildrop anyway.
April 07, 2014, 07:30:16 PM
Too everyone saying XSV may be in violation of Fincen regulations...
Crypto has been recognized as PROPERTY! Not currency.
Go spread your fud somewhere else.
Crypto has been recognized as PROPERTY! Not currency.
Go spread your fud somewhere else.
Facts are not fud. You are obviously not very knowledgeable on the subject. You are referring to the IRS. That has nothing to do with FinCEN requirements. And according to the IRS, anyone redeeming XSV will be required to claim the value on their tax returns. Yeah that's going to work out real well.
This coin can't work because of the issues I have pointed out.
No FinCEN registration = In violation of Department of Treasury
Recipients required to claim value of property in federal tax filings
http://www.irs.gov/pub/irs-drop/n-14-21.pdf
Q-1: How is virtual currency treated for federal tax purposes?
A-1: For federal tax purposes, virtual currency is treated as property. General tax principles applicable to property transactions apply to transactions using virtual currency.
Q-3: Must a taxpayer who receives virtual currency as payment for goods or
services include in computing gross income the fair market value of the virtual
currency?
A-3: Yes. A taxpayer who receives virtual currency as payment for goods or services
must, in computing gross income, include the fair market value of the virtual currency,
Do your research bro...
Fincen Regulations for Virtual Currencies: http://www.complianceweek.com/new-fincen-guidance-clarifies-corporate-bitcoin-requirements/article/332667/
From the article:
“The production and distribution of software, in and of itself, does not constitute acceptance and transmission of value, even if the purpose of the software is to facilitate the sale of virtual currency,” FinCEN wrote. As a result, the software would not make the company a money transmitter.
And Finally, might want to do some current events for Bitcoin:
http://bitcoinvista.com/2014/04/05/announcing-free-bitcoins-inside-bitcoins-new-york-to-giveaway-prepaid-bitcoin-cards-to-attendees/
I don't think Bitcoin is registered with FinCEN =)
April 07, 2014, 05:55:07 PM
This could be construed as true if there was anything bought/sold. Might want to do your homework on regulations on free giveaways or in other words "Donations" (Charities etc.).... Any sort of donation is TAX FREE =)
So now you want to call this a donation to the charity of Silicon Valley? You guys will say anything to try to justify this crap!WTF?? It's common sense, darling. Really. Do your research man hahaha.
April 07, 2014, 05:44:55 PM
This could be construed as true if there was anything bought/sold. Might want to do your homework on regulations on free giveaways or in other words "Donations" (Charities etc.).... Any sort of donation is TAX FREE =)
So now you want to call this a donation to the charity of Silicon Valley? You guys will say anything to try to justify this crap! 
April 07, 2014, 05:02:24 PM
Too everyone saying XSV may be in violation of Fincen regulations...
Crypto has been recognized as PROPERTY! Not currency.
Go spread your fud somewhere else.
Crypto has been recognized as PROPERTY! Not currency.
Go spread your fud somewhere else.
Facts are not fud. You are obviously not very knowledgeable on the subject. You are referring to the IRS. That has nothing to do with FinCEN requirements. And according to the IRS, anyone redeeming XSV will be required to claim the value on their tax returns. Yeah that's going to work out real well.
This coin can't work because of the issues I have pointed out.
No FinCEN registration = In violation of Department of Treasury
Recipients required to claim value of property in federal tax filings
http://www.irs.gov/pub/irs-drop/n-14-21.pdf
Q-1: How is virtual currency treated for federal tax purposes?
A-1: For federal tax purposes, virtual currency is treated as property. General tax principles applicable to property transactions apply to transactions using virtual currency.
Q-3: Must a taxpayer who receives virtual currency as payment for goods or
services include in computing gross income the fair market value of the virtual
currency?
A-3: Yes. A taxpayer who receives virtual currency as payment for goods or services
must, in computing gross income, include the fair market value of the virtual currency,
This could be construed as true if there was anything bought/sold. Might want to do your homework on regulations on free giveaways or in other words "Donations" (Charities etc.).... Any sort of donation is TAX FREE =)
I think scamexposer raised some interesting issues. I disagree with you that the maildrop is a donation but I don't think the IRS is concerned about a voucher for a basically worthless cryptocurrency. The FinCen issues are real however and could pose a significant problem with this coin going forward. They are doing this in the United States where laws are different from the other countries where drops have been done. The Bank Secrecy Act of 1970 has been amended several times and includes provisions in title III of the USA PATRIOT Act. The BSA is sometimes called the “Anti-money laundering” (AML) law. I would be very careful with anything that potentially falls under the US Patriot Act.
I did a quick search and found this:
Virtual Currency Users Not to Be Regulated This would be the recipients of the vouchers
FinCen has stated that virtual currency “users” will not be regulated.
A user is a person that obtains virtual currency to purchase goods or services. FinCen clarified that a user of virtual currency is not a money service business and not subject to registration, reporting, and recordkeeping regulations.
Virtual Currency Exchangers and Administrators to be Regulated This would be SiliconValley Coin
An exchanger is anyone who exchanges (as a business) virtual currency for real currency, funds, or other virtual currency. An administrator is a person issues (puts into circulation) a virtual currency as a business, and who has the authority to redeem (to withdraw from circulation) such virtual currency
Virtual Currency Exchangers and Administrators are “money transmitters” according to FinCEN. They fall under the BSA Act and must register with FinCEN and satisfy all reporting and recordkeeping requirments.
2. Centralized Virtual Currencies (eg. Second Life’s Linden Dollars)
The administrator of any centralized convertible virtual currency is a money transmitter. This is because it allows transfers of value between persons or from one location to another. In addition, any exchanger that uses its access to the convertible virtual currency services provided by the administrator to accept/transmit the convertible virtual currency on behalf of others, including transfers intended to pay a third party for virtual goods and services, is also a money transmitter.
Examples: An exchanger (acting as a “seller” of the convertible virtual currency) that accepts real currency or its equivalent from a user (the “purchaser”) and transmits the value of that real currency to fund the user’s convertible virtual currency account with the administrator. If the exchanger is providing the service of connecting the user to the administrator and the only services being provided are money transmission services and nothing else, then the exhanger is subject to regulation.
OR the de facto sale of convertible virtual currency. The exchanger accepts currency or its equivalent from a user and privately credits the user with an appropriate portion of the exchanger’s own convertible virtual currency held with the administrator of the repository. The exchanger then transmits that internally credited value to third parties at the user’s direction.
April 07, 2014, 04:48:23 PM
Charts here: http://crypto-prices.com/XSV
April 07, 2014, 04:47:56 PM
Now this is where it gets tricky, this is what blew my mind the most once I got into this scene. Everyone who has been here awhile knows this. Experienced traders look for coins where they think that the newbies will buy into the belief. This is why you see experienced users talking like this is a great idea for a coin. They own alot. And they join in with the devs and keep posting things that will promote that belief. Then when the price goes up enough, they sell.
The coin will NOT go up anymore. It will fall, then go back up a little again, squeezing out a few more suckers as the coin continues to fail. The experienced traders will leave as they already made their profits, and the devs will have a harder time promoting that belief among the newbies.
Sell everything now if you have this coin. Then, you will make money just like them.
The experienced users here, and the devs KNOW that this coin will NEVER take off in The Valley.
Im sure you know too. Your just thinking that all these people that have been around longer than you must know more than you. Well, they do. They know when to sell. Now you do too.
They will quote me and say im just trying to drive the price down so I can buy cheap. NO. Not possible because they will never be able to create the belief again. The game has pretty much ran its course. Its almost time to move to a new coin where they will do it again.
Pretty soon the Devs will be gone too. The experienced traders arent expecting this junk mail scamcoin to last much longer. And when they leave, the devs will too.
Maybe because im new I didnt explain this good enough for you to believe me. Or maybe you are emotional about this coin (another newbie mistake) and trust the Devs. Anyway, im sure you see the picture im painting good enough.
So you sell now and make money like the Devs and experienced traders, or you dont and end up holding the bag as they call it.
Either way, you will remember this post and learn from it and see for yourself soon enough.
Just wanted to pass this along to my fellow "newbies". It was explained to me by a friend and thought it would be cool to let you guys know too. Yeah, I'm just a nice guy. I own none if this coin, nor will I EVER buy this scamcoin either. I just find this shit amazing other than people like us getting ripped off by these con artists.
I hope for your sake you listened when I said this. The price was .52 Now its .09!!!!
If you still have some Id wait for the final pump. They will probably get it up to 30 again. But GET OUT!!
THIS COIN IS A SCAM!!
Good luck newbies, I hope they didn't take you for too much. And to those who got out,....forget it youre gone with your profits
April 07, 2014, 04:39:19 PM
Too everyone saying XSV may be in violation of Fincen regulations...
Crypto has been recognized as PROPERTY! Not currency.
Go spread your fud somewhere else.
Crypto has been recognized as PROPERTY! Not currency.
Go spread your fud somewhere else.
Facts are not fud. You are obviously not very knowledgeable on the subject. You are referring to the IRS. That has nothing to do with FinCEN requirements. And according to the IRS, anyone redeeming XSV will be required to claim the value on their tax returns. Yeah that's going to work out real well.
This coin can't work because of the issues I have pointed out.
No FinCEN registration = In violation of Department of Treasury
Recipients required to claim value of property in federal tax filings
http://www.irs.gov/pub/irs-drop/n-14-21.pdf
Q-1: How is virtual currency treated for federal tax purposes?
A-1: For federal tax purposes, virtual currency is treated as property. General tax principles applicable to property transactions apply to transactions using virtual currency.
Q-3: Must a taxpayer who receives virtual currency as payment for goods or
services include in computing gross income the fair market value of the virtual
currency?
A-3: Yes. A taxpayer who receives virtual currency as payment for goods or services
must, in computing gross income, include the fair market value of the virtual currency,
This could be construed as true if there was anything bought/sold. Might want to do your homework on regulations on free giveaways or in other words "Donations" (Charities etc.).... Any sort of donation is TAX FREE =)
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