ICON [ICX] | Discuss Upcoming ICOs, Wallets, dApps, and More

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#5694

If you look back when charts appear in this thread it’s mainly btc.

Godel is right… He’s always right.


#5695

Didn’t say he wasn’t correct in his analysis so what is your point?


#5696

Calm down bro, it’s all love.


#5697

Not excited just trying to understand your post.


#5698

Probably you won’t be eligible for staking icx nor in erc20 token format neither from hardware wallet. Or you can?


#5699

The point is that Godel posted in the right thread. All coins follow bitcoin. So bitcoin TA in any thread is relevant.


#5700

Yeah good question. I was wondering that too :thinking:. Will dex allow you to stake while keeping coins secured in a hardware wallet or will they need to be staked on the exchange?


#5701

If I were to guess (it’s probably in the whitepaper), the coins will be staked within a smart contract. I’m not entirely sure as we don’t know yet.


#5702

The staked coins has to be in ICONs control so they are able to use it within the Dex if it’s needed. So I guess you’ll have to leave it in your wallet but you’ll have to declare it as a staked stack.

The more is staked the less tokens icon will mint to support the network.


#5703

And payment is in the form of more ICX tokens, correct? I’m wondering what set up is best to avoid/limit taxation in the US with the staked returns…

And for the record to any IRS agents out there - I’m not a tax dodger; I pay my fair share. Just wondered what I can do to structure something that is legal


#5704

Correct.

Seriously start thinking about an overseas bank account where you can channel money there.

Im in UK and don’t plan on paying a penny in tax on my Crypto so not the best person to ask. If our tax service start asking questions I’m cashing everything to my Thai bank account.


#5705

Volume picked up but we are not out of the woods yet, ICX still in the downtrend channel bois.


#5706

Surely it won’t change until btc changes its direction?


#5707

…and which hardware wallets plan to support non-erc20 ICX?


#5708

Most likely staked returns count as ordinary income, and their value at that moment becomes their cost basis if you sell them later. Disclaimer: this is just an opinion, not tax or legal advice. For entertainment purposes only.


#5709

it can, some cryptos have been doing good rallies despite BTC downtrend, but ICX would need a very good tweet from Min to boost us really nice.


#5710

Yeah true though even ones like eos eventually succumbed to Bitcoins tantrums.

Don’t think Min doing a 3 way hand shake with Trump and Lil Kim will do much at the moment mate


#5711

Quick question about ICON IISS.

I understand that there are at least four factors that determine your staking reward (the most influential being the freezing volume), however is reward pro rata, or based on tiered levels?

Quick example, say I have 9,999 ICX. Would I receive the same rate as 10,000 ICX, or would that potentially be into a different tier?

I ask this as I’m debating buying the dip if we do revisit $5k BTC. Trying to decide if I want to diversify, or pickup an extra 4000 ICX in hopes of catching the next (potential) tier.

Thanks!


#5712

I doubt it’d be tiers or threshold type to avoid only the whales being really benefited from the rewards.

just my opinion, I have no idea of what I’m talking about in the matter.


#5713

Thanks. I also hope it isn’t tiered for the very same reason. Also suspect this info isn’t available yet, but I’ve been MIA for awhile now, and although I’ve been trying to keep current on ICX news, I’m sure I’ve missed the odd bit of info.