CARDANO STAKE POOL TAXED OR NOT TAXED? 100X ADA TEZOS IRS ETHEREUM STAKING POLKADOT $5 $10 $100



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https://daedaluswallet.io/

https://iohk.zendesk.com/hc/en-us/articles/900004828803-How-to-pair-Trezor-T-with-Daedalus-

History
The platform began development in 2015 and was launched in 2017 by Charles Hoskinson, a co-founder of Ethereum and BitShares.[9][10][11] According to Hoskinson, he had left Ethereum after a dispute over keeping Ethereum nonprofit. After leaving he co-founded IOHK, a blockchain engineering company, whose primary business is the development of Cardano, alongside the Cardano Foundation and Emurgo.[11] The platform is named after Gerolamo Cardano and the cryptocurrency after Ada Lovelace.[12]

The currency debuted with a market cap of $600 million. By the end of 2017, it had a market cap of $10 billion, and reached a value of $33 billion briefly in 2018 before a general tightening of the crypto market dropped its value back to $10 billion. According to Mashable, Cardano claims that it overcomes existing problems in the crypto market: mainly that Bitcoin is too slow and inflexible, and that Ethereum is not safe or scalable. Cardano is considered a third-generation cryptocurrency by its creators.[5]

Cardano is developed and designed by a team of academics and engineers.[13][14]

Technical aspects
Cardano uses Ouroboros proof of stake technology. In contrast, Bitcoin uses the proof of work system; the first blockchain entry and the longest blockchain (blockchain with the most computing power) is used to determine the honest blockchain. Cardano uses only the first blockchain entry, whereafter the honest chain is proven locally without the need of a trusted party.[15]

Within the Cardano platform, Ada exists on the settlement layer. This layer is similar to Bitcoin and keeps track of transactions. The second layer is the computation layer. This layer is similar to Ethereum, enabling smart contracts and applications to run on the platform.[5]

Atypically, Cardano does not have a white paper. Instead it uses design principles intended to improve upon issues faced by other cryptocurrencies, such as scalability, interoperability, and regulatory compliance.[16] It is funded by an initial coin offering.[14]

https://daedaluswallet.io/

https://iohk.zendesk.com/hc/en-us/articles/900004828803-How-to-pair-Trezor-T-with-Daedalus-

History
The platform began development in 2015 and was launched in 2017 by Charles Hoskinson, a co-founder of Ethereum and BitShares.[9][10][11] According to Hoskinson, he had left Ethereum after a dispute over keeping Ethereum nonprofit. After leaving he co-founded IOHK, a blockchain engineering company, whose primary business is the development of Cardano, alongside the Cardano Foundation and Emurgo.[11] The platform is named after Gerolamo Cardano and the cryptocurrency after Ada Lovelace.[12]

The currency debuted with a market cap of $600 million. By the end of 2017, it had a market cap of $10 billion, and reached a value of $33 billion briefly in 2018 before a general tightening of the crypto market dropped its value back to $10 billion. According to Mashable, Cardano claims that it overcomes existing problems in the crypto market: mainly that Bitcoin is too slow and inflexible, and that Ethereum is not safe or scalable. Cardano is considered a third-generation cryptocurrency by its creators.[5]

Cardano is developed and designed by a team of academics and engineers.[13][14]

Technical aspects
Cardano uses Ouroboros proof of stake technology. In contrast, Bitcoin uses the proof of work system; the first blockchain entry and the longest blockchain (blockchain with the most computing power) is used to determine the honest blockchain. Cardano uses only the first blockchain entry, whereafter the honest chain is proven locally without the need of a trusted party.[15]

Within the Cardano platform, Ada exists on the settlement layer. This layer is similar to Bitcoin and keeps track of transactions. The second layer is the computation layer. This layer is similar to Ethereum, enabling smart contracts and applications to run on the platform.[5]

Atypically, Cardano does not have a white paper. Instead it uses design principles intended to improve upon issues faced by other cryptocurrencies, such as scalability, interoperability, and regulatory compliance.[16] It is funded by an initial coin offering.[14]
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26 comments

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  2. How can you tax something that hasn't been sold for dollars? IRS is playing with people here I think. If you find some gold bullion in the woods is that taxed? If you bake a cake to sell after when it leaves the oven is it taxed?

  3. Demian Hesse

    You can just use koinly…….it connects right to the Cardano blockchain and does everything for you.

  4. SubliminalD1969

    Bureaucracy is great for bureaucrats!

  5. –Alejandro G.

    Say w00t???? This is the uncomfortable side of mass adoption, I mean, IRS is mouthwatering those sweet sweet crypto taxes, amirite??! Anyhow, history in the making! WOW!

    =One Love=

    –A

  6. Joined the NERD pool 2 weeks ago and convinced my cousin as well. 25K new Cardano between both of us being stake! Not much but it's honest work. Looking forward to the future

  7. Chris Merriam-Leith

    Technically Ada or Ada rewards are not money. It's a governance/utility token that doesn't have any value until it has value.

  8. question: if someone loses their crypto wallet, or their spending password, or seed phrase, etc., but their crytpo is still accruing passive staking rewards, would they still be liable for paying taxes on that even if they couldnt access it?

  9. Now part of the NERD pool. Oh yeah!
    No, not doing it to see you suffer with those peppers.

  10. remixednuts12345

    oh thanks heaps for that! I was going to look for an easier manually checking every epoch haha

  11. Sumgiji Mothae

    Regulations WILL come as soon as institutional money is all secured in crypto and they will be grandfathered in and the rest of us will be fighting for crumbs.

  12. MetalGearMk3

    This is why I am moving to Portugal, no taxes on crypto , F the USA tax laws.

  13. MetalGearMk3

    I agree with the Tezos lawsuit, stalked rewards should NOT be taxed.

  14. How are you expected to pay taxes on staking without withdawing your ADA??

  15. The new lighting looks awesome.

  16. I moved from CCV to a damn Nerd. 💪

  17. Paul Francie

    I’m a medical doctor, but currently excel in the cryptocurrency world. Personally, I never doubted trading with Mr. Paul Jaydon after seeing his Proof of Trades and also updated pdf materials he uses for tutoring his new students and beginners in cryptocurrency investment, I made a good profit last year and still counting this year, even while lots of people are complaining of lost, I am looking forward to making more profit.

  18. Taxed when gains are realized and as rewards are earned. Like stocks and dividends. Not paying taxes isn't practical.

  19. Heck ya, saved me a huge headache with that site for taxes. I’m with you- do it by the book and not have to worry. My personal opinion is we will have more overall adoption once regulation is set(regardless if it is favorable or not). Keeping a close eye on that suit- will be interesting to see how it turns out.

  20. Eyob Westerink

    finish the bottle my men! at january 24th 2022

  21. I'm here!!!!

  22. I WY you can only avoid state tax, but there is always Federal tax to consider. Staking rewards are currently taxed when earned. Just use average price for the year to calc value, pay tax and forget.

  23. You get taxed for the staking gain and then taxed again when you cash out your gain??? Doesn't make sense 😂

  24. Daniel Alcock

    I'm here NERD gang!!

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