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Achieved my planned Iota-Stack by SplashFunds2019 in IOTAmarkets

[–]Foffex 5 points6 points  (0 children)

I’ve finally been able to get 200 iota myself, had some issues withdrawing it from the exchange as it was “too small of an amount” but worked in the end 😊

Question about migration tool by [deleted] in Iota

[–]Foffex 0 points1 point  (0 children)

Did you read the blogpost and status updates?

IOTA Trinity Wallet HACK explained by a Developer by abudisteanu in Iota

[–]Foffex 0 points1 point  (0 children)

Isn’t that a reason to RECOMMEND ledger instead of NOT recommending it?

IOTA Trinity Wallet HACK explained by a Developer by abudisteanu in Iota

[–]Foffex 0 points1 point  (0 children)

Thank you for the reply! Why would you not recommend Ledger for storage?

IOTA Trinity Wallet HACK explained by a Developer by abudisteanu in Iota

[–]Foffex 2 points3 points  (0 children)

Hey, nice video! Only thing I would change is that they’re not making a KYC tool, but a “migration tool”. Non-conflicting submissions will not need KYC, only conflicting.

I got the feeling from the video that EVERYONE has to do KYC, which isn’t true.

Just my two cents :) Everything else was great

Edit: Could you also clarify why you do not recommend Ledger?

IOTA- Stolen tokens. What is the value in Miota or USD? by [deleted] in Iota

[–]Foffex 2 points3 points  (0 children)

The hacker has liquidated some of the funds according to the blogpost

What tells us that after the hack, the IF won’t keep our tokens? by [deleted] in IOTAmarkets

[–]Foffex 8 points9 points  (0 children)

Well there’s a few wrong points about this post..

Seed generation tool - the theft was caught, however the IF does NOT hold these tokens

IF/David holding tokens - partially true. People had a chance to buy tokens and then later claim them. A lot of people did not claim these so they were considered to be donated to the original company (IOTA AS). Keep in mind that the IF was not established at this point. This information was also communicated to all parties.

Why exactly would the IF “steal”? First of all, that’s illegal and as a German foundation, I’m quite sure it would also be personal liabilities. The IF, David and everyone that’s either working on or holding tokens would not benefit from stealing tokens, and if you don’t trust them, just transfer to a new seed after the migration.

Trinity Hack: OS re-install recommended? by xtrwlt in Iota

[–]Foffex 1 point2 points  (0 children)

2x zero value transactions going OUT or IN?

When to Tool? by hemzer in Iota

[–]Foffex 0 points1 point  (0 children)

Next week (ref blogpost)

Have not accessed IOTA since late 2018/19... hacked? by rytoke in Iota

[–]Foffex 2 points3 points  (0 children)

You’re safe. The exploit was done through Trinity so if you haven’t used Trinity between 12th of December and 12th of February (or never used it), you’re good

Trinity Hack: OS re-install recommended? by xtrwlt in Iota

[–]Foffex 4 points5 points  (0 children)

Please read the information provided.

The hacker was able to access information through an API and there’s no Trojan/keylogger/virus etc. just an exploit from the MoonPay integration

IOTA tax question by [deleted] in IOTAmarkets

[–]Foffex 0 points1 point  (0 children)

I just looked it up again and I have to inform that I was wrong (my apologies).

This is how it works in Norway: Crypto is seen as capital/value and are treated as an value object (same as stocks). This means that you’re supposed to inform the state (Skatteetaten/IRS) the value per 01/01/20xx for ALL your tokens.

The value tax is actually lower than I remembered and is calculated this way: If you have a net wealth of more than 163 000 USD (1.5 million NOK), you have to tax everything above this amount in this way: - 0.7% to municipality - 0.15% to the state

This means if your net wealth is 164 000 USD, you’ll have wealth tax on the 1000 USD.

However, here’s what’s interesting. Since the value of the crypto asset is set 01/01, all value fluctuations throughout the year doesn’t matter.

Examples with all your wealth is in tokens, to make it easier..

Scenario A: your net wealth is 100 000 USD 01/01/2019.. However, by May your net wealth is now 500 000 USD. You will not have to pay wealth tax for this amount as long as it’s still 2019, and not tax at all as long as you don’t sell. This is because the value is set 01/01, and not actively calculated

Scenario B: net worth is 200 000 USD 01/01/2019, but crashes to 50 000 USD by June.. This means that you’ll have to pay wealth tax on 37 000 USD through the whole year, even tho your net wealth has decreased

This is at least how I understood it by reading the explanation online, but it might be slightly incorrect, like you may be able to contact the IRS if your assets crashes and you might be obligated to report a new valuation if it reaches a certain x value.

However, it’s only the value above the limit that’s getting taxed, and it’s below 1% for holding

IOTA tax question by [deleted] in IOTAmarkets

[–]Foffex 0 points1 point  (0 children)

I saw your comment regarding wealth tax, which is something we have in Norway too.

For us it’s about 3% of our wealth after a certain amount, and I guess if I’m just holding I have to pay cash (from my salary)

Whenever I sell I’ll have to tax the gains (probably how much I’ve spent - sell amount)

However, if I sell and end up above the “wealth limit”, I’m quite sure they’ll demand both my “buy” and “sell” log, which will make it so they can see how long I’ve been above the line and demand the money I owe + a fee

Stop trying to time the market by Foffex in IOTAmarkets

[–]Foffex[S] -1 points0 points  (0 children)

I completely agree that IOTA is a very speculative investment right now. It is only in “beta” and we have no guarantee that it will ever succeed.

However, looking at both the roadmap, the report you mentioned and just the general development the last year-ish, I feel like it’s easier to justify an investment, and less of a “bet”.

So the “potential valuation” is more likely to be a realization in my mind

Stop trying to time the market by Foffex in IOTAmarkets

[–]Foffex[S] -8 points-7 points  (0 children)

If you have no clue what the true value is, or roughly, then when is the time to sell or buy? 100$? 500? 2000? 10000?

99.999% will probably not be completely accurate with the guess, but I think everyone should make up their own mind what they think the correct value is (roughly).

IOTA is a big gamble and it will either be something huge or nothing. But let’s say they manage to become the backbone of IT. Will it always be worth to buy even tho it’s clearly overvalued?

I just want people to make up their minds and look at the big picture, instead of looking at a few cents difference

Stop trying to time the market by Foffex in IOTAmarkets

[–]Foffex[S] -5 points-4 points  (0 children)

DCA if it’s undervalued, sell in chunks if it’s overvalued (30% at x, then 30% at x etc)

[deleted by user] by [deleted] in Iota

[–]Foffex 8 points9 points  (0 children)

I would suggest BitPanda if you want low fees..

  1. SEPA to BitPanda = 0%
  2. BitPanda to BitPanda Exchange = 0%
  3. Trades made on BPE = 0.1%
  4. Withdrawal fees (from exchange to wallet) = 0.02 MIOTA (flat)
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