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re: GameCoin(GMEX) Anybody still hodling?
Posted on 1/13/22 at 7:37 am to TigerTatorTots
Posted on 1/13/22 at 7:37 am to TigerTatorTots
So.. obviously the law was not meant for situations such as this. But I agree from everything I can tell this is how the law should be applied.
Here’s a question though.. I know the top 50 wallets or so are “locked” for a certain amount of time. I think it was a tiered system where the top wallets had 90% of coins locked for 8 months.
So these people had a “realized gain” of like $15M+ but even if they wanted to sell, they could not sell more than 10% of what they owned.. how does that work?
Here’s a question though.. I know the top 50 wallets or so are “locked” for a certain amount of time. I think it was a tiered system where the top wallets had 90% of coins locked for 8 months.
So these people had a “realized gain” of like $15M+ but even if they wanted to sell, they could not sell more than 10% of what they owned.. how does that work?
3
Posted on 1/13/22 at 7:55 am to PhiTiger1764
I wish I woulda bought
I was the second post in that thread and I didn’t buy
I was the second post in that thread and I didn’t buy
Posted on 1/13/22 at 8:21 am to PhiTiger1764
No ones GameCoin is locked, they just say that to give you confidence in the scam, the developers can do whatever they want at any time. Remember that time they halted all trading? That’s not something that’s supposed to be possible but they did it. If they want to allow the seed investors to dump they can and they will if everyone starts getting massive tax bills.
Posted on 1/13/22 at 9:20 am to PhiTiger1764
Not sure how the locked wallets would work. I would think because they cannot access or sell them, the capital gain would not occur until their lock period vests.
And yes, the written law was not meant for situations like this but I don’t see a little ole IRS agent deviating from how the law is written to give people a pass here
And yes, the written law was not meant for situations like this but I don’t see a little ole IRS agent deviating from how the law is written to give people a pass here
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