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Started By
Message
re: Official CryptoTalk Thread
Posted on 4/9/22 at 2:29 pm to 21JumpStreet
Posted on 4/9/22 at 2:29 pm to 21JumpStreet
quote:A major improvement to Ethereum. Essentially forking the entire ETH code/blockchain including all ERC20s onto Pulse, with near zero fees. Has some really good potential if they can get people to actually make the jump and start using it for the same purposes they use ETH
What is suppose to be so good about it?
1
Posted on 4/10/22 at 8:59 am to 21JumpStreet
Pulse will have every single Ethereum token and NFT forked over to Pulsechain.
All anyone has to do is add the network and token to their Metamask wallet.
The Pulse developers designed it so that Ethereum smart contract developers could swap their projects over with nearly 0 work.
Pulse is the largest air drop of all time. Pulse has 3 second blocks and the fees are basically 0.
As much as I love the potential of Pulse, I love the exchange token Pulsex even more.
All anyone has to do is add the network and token to their Metamask wallet.
The Pulse developers designed it so that Ethereum smart contract developers could swap their projects over with nearly 0 work.
Pulse is the largest air drop of all time. Pulse has 3 second blocks and the fees are basically 0.
As much as I love the potential of Pulse, I love the exchange token Pulsex even more.
Posted on 4/10/22 at 12:14 pm to tenderfoot tigah
IRS fixin to eat when pulse goes live
Posted on 4/10/22 at 1:25 pm to RJSambola
Why? All air dropped coins will have a $0 value
Posted on 4/10/22 at 3:03 pm to RJSambola
quote:
IRS fixin to eat when pulse goes live
More like erc20 holders and sacrificers gona eat when pulse goes live
Posted on 4/10/22 at 3:45 pm to TigerTatorTots
You can’t write off political donations. Isn’t pulse a political statement?
So you can’t actually claim a loss. At least, that is what some tax people told me about it, or how they would treat it if you tried to claim a loss.
I’d imagine most just don’t report it.
So you can’t actually claim a loss. At least, that is what some tax people told me about it, or how they would treat it if you tried to claim a loss.
I’d imagine most just don’t report it.
Posted on 4/10/22 at 4:21 pm to RJSambola
quote:Sike!
IRS fixin to eat when pulse goes live
Posted on 4/10/22 at 4:32 pm to JayDeerTay84
quote:
You can’t write off political donations. Isn’t pulse a political statement? So you can’t actually claim a loss. At least, that is what some tax people told me about it, or how they would treat it if you tried to claim a loss. I’d imagine most just don’t report it.
You’re mixing up what he’s talking about.
Bc the airdrops (pulse, pulsex, etc) are starting at $0, you will not have to pay taxes on the aidrop. If the airdrop started at $1, then you are supposed to (like the uniswap airdrop…don’t remember the price it started at but it was above $0).
This post was edited on 4/10/22 at 4:55 pm
Posted on 4/10/22 at 5:00 pm to JayDeerTay84
No one is writing off sacrifices as losses (unless they aren’t knowledae of the tax code)
Posted on 4/10/22 at 5:12 pm to TigerTatorTots
I designated mine as a gift on my taxes. Obviously my cost basis will be $0 on anything received from it.
Posted on 4/10/22 at 5:20 pm to tenderfoot tigah
quote:homes.
The Pulse developers designed it so that Ethereum smart contract developers could swap their projects over with nearly 0 work.
What about the tax implications of my project migrating to their chain?
Posted on 4/10/22 at 5:21 pm to TSLG
quote:
homes. What about the tax implications of my project migrating to their chain?
They all start at $0. There are no tax implications.
This post was edited on 4/10/22 at 5:22 pm
Posted on 4/10/22 at 5:25 pm to boomtown143
If the airdrop grows in value that’s a gain though. How would you not owe taxes?
Posted on 4/10/22 at 5:26 pm to JayDeerTay84
quote:
If the airdrop grows in value that’s a gain though. How would you not owe taxes?
You don’t owe taxes in the initial airdrop if it starts at $0.
You would then only owe taxes once you sell
Posted on 4/10/22 at 5:27 pm to JayDeerTay84
quote:
If the airdrop grows in value that’s a gain though. How would you not owe taxes?
I guess you would but are you going to be mad about paying taxes if you made money? I don't see how that's any different than any other investment
If you bought a stock at a penny and it went to dollars would you be upset about it?
This post was edited on 4/10/22 at 5:29 pm
Posted on 4/10/22 at 5:29 pm to fallguy_1978
Who said I would be mad? Jesus. What a leap. Settle down.
Posted on 4/10/22 at 5:32 pm to JayDeerTay84
Well I don't see how this is a unique tax situation from an investment standpoint other than your cost basis being $0.
Posted on 4/10/22 at 5:33 pm to JayDeerTay84
If you sell those gains then you’d have a tax event with a $0 cost basis
Posted on 4/10/22 at 5:36 pm to fallguy_1978
I’ve never gotten an airdrop like this before so I don’t know.
I get that the value will start at zero but the amount of tokens you get was relative to a value in your “sacrificed” amount.
Just not sure how, in the long run, these things get classified as.
I get that the value will start at zero but the amount of tokens you get was relative to a value in your “sacrificed” amount.
Just not sure how, in the long run, these things get classified as.
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