Er.....off topic: LISK ...what does anyone think?


#1

Kinda going rouge here…but last year mined some LTC and got some BTC and paid 1 BTC on Lisk ICO.

Lisk is a contract coin …POS coin like…Etherium ,not a clone but same niche…but uses Java Scrypt and you can forge coins etc if you stake

(pretty much have to be a lisk whale to pull that off thou)

Anyway…it suddenly is just killing it. I’m not sure if this is because of the Ethereum link and aspects with
the java scrypt / tools options or what…but that one BTC is now worth 28k.

I has gone up from under a $1 to around $4 …and seems to be following the Etherium pump (which I’ve avoided)

Anyway …anyone else trip over this alt and/or kinda scratching your head?

My catch is unless I want to pay 40% capital gains …I got to keep the beast for 1 year and 1 day (sigh TAX man)

But anyway …just a heads up that sometimes you get lucky. Just looking around for what anyone else thinks

of kinda in the same boat

Again this is in the OFF TOPIC thread…so I can blasphemy to my heart’s content …ie not litecoin thread

Anyway …talking real money here…with Ethereum at $330 USD today…I’m considering gambling more

into this …on the contrary, view that it has legs and can coat-tail off of ethereum pump …like ltc does with btc…

…it is not inconceviable it could be a 10 buck coin here soo…just dangling it out there for others who may have some

lisk as well and/or what folk thinks?

whatever


#2

my opinion…coinmarketcap.com any coin with and asterisk ( * ) next to it is a non-minable coin…meaning it is a centralized private blockchain…so if you care about decentralization then all private chains would suck…


#3

I have no clue why you dis eth when it’s a legit coin with good tech. . .

I’m not saying eth is better than ltc, but eth does more than ltc.

Ltc is just a faster btc with 0 anything else. Eth brings more things to the table.

Lsk is going to be big too, but I’m not too researched in it. Just that my coder friends say it’s got some solid tech.


#4

I read somewhere that cryptocoins are considered property (kinda like real estate rather than stocks) by the IRS. Since property is not a stock, do you have to pay capital gains taxes on the sale of property?


#5

I mined eth for a few months…then there was a hack on every node that was up and running. Then I couldn’t access my ether on coinbase or my personal wallet…not to mention the bullshit disclaimer you have to agree to before you download it…to each his own but in my experience eth is just one big mess and just waiting to be hacked yet again…just look at what happened with the DAO…seems like a good trend to make profit with but in my experience more people have lost money with it than have gained…
I’ll just stick with my Litecoin and Zcash…
since Eth is trying to adopt Zcash like code now anyway…Eth has literally taken just about every version of every fork and altered it for its own…which is fine because its open source rules allow for that…the DAO was hacked because the hacker wrote a smart contract that paid him eth based on outside information like the price of bitcoin or something and was able to sifon millions of eth from the DAO…
Eth its like segwit with no cryptography involved with the “witness” or outside input


#6

Found where I read it. It was an IRS publication. Here is the link:

https://www.irs.gov/uac/newsroom/irs-virtual-currency-guidance

I hope this helps :slight_smile:


#7

you are right…crypto coins are digital assets in the eyes of the irs…and you pay taxes on US Dollar profits or losses only when US dollars are converted to…


#8

Wow.

Eth does sound dangerous


#9

it sounds not good and risky