WTF is Crypto Art?

General art-related discussion.
heresjonny
Art Enthusiast
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Joined: Sun Sep 29, 2019 5:12 pm

Sun Nov 21, 2021 1:27 am

Tossing my hat into the NFT world.

Https://nothing-spectacular.com
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Codeblue
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Sun Nov 21, 2021 1:31 am

ygolohcysp wrote:
Sat Nov 20, 2021 8:36 pm
acidburn wrote:
Sat Nov 20, 2021 8:25 pm
ygolohcysp wrote:
Sat Nov 20, 2021 8:01 pm
Cheating on your taxes is dumb af. Nearly everything is digital. All it takes is one IRS cowboy to learn a few good queries.

Anytime you receive more than $600 from the same source you're on the hook to report the income. You're still supposed to report it anyways regardless of the source or amount. Ignorance is never a valid excuse, and it certainly doesn't reduce the penalties.
Yes but how many ppl flipping posters really report it? Is the entire market made up evil tax evaders?
That's tough to say. I know one person that tries to avoid by using multiple PayPal accounts and keeping each under $20k/200 transactions. That is dumb so I don't expect there to be too many others following suit.

I imagine most people don't willfully exclude parts of their income when filing their taxes. So I'll take a guess at answering your question and say at least 75% of people flipping posters are truthful when declaring their income. It's all digital! I think most people realize this and then there's a small amount of people that think they're smarter and try to cheat.
Luls. Id be very surprised if even 10% of people who resell posters in any capacity that is under the current 1099k limit report that income on their taxes.
RupertPupkin wrote:I live by this rule and this rule alone: people are drymounting idiots.
papaver
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Sun Nov 21, 2021 4:17 pm

Codeblue wrote:
Sun Nov 21, 2021 1:31 am
ygolohcysp wrote:
Sat Nov 20, 2021 8:36 pm
acidburn wrote:
Sat Nov 20, 2021 8:25 pm
ygolohcysp wrote:
Sat Nov 20, 2021 8:01 pm
Cheating on your taxes is dumb af. Nearly everything is digital. All it takes is one IRS cowboy to learn a few good queries.

Anytime you receive more than $600 from the same source you're on the hook to report the income. You're still supposed to report it anyways regardless of the source or amount. Ignorance is never a valid excuse, and it certainly doesn't reduce the penalties.
Yes but how many ppl flipping posters really report it? Is the entire market made up evil tax evaders?
That's tough to say. I know one person that tries to avoid by using multiple PayPal accounts and keeping each under $20k/200 transactions. That is dumb so I don't expect there to be too many others following suit.

I imagine most people don't willfully exclude parts of their income when filing their taxes. So I'll take a guess at answering your question and say at least 75% of people flipping posters are truthful when declaring their income. It's all digital! I think most people realize this and then there's a small amount of people that think they're smarter and try to cheat.
Luls. Id be very surprised if even 10% of people who resell posters in any capacity that is under the current 1099k limit report that income on their taxes.
this. pretty sure the majority of resellers that are reporting it on their taxes are ones that run their own businesses.
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ygolohcysp
Art Expert
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Joined: Wed Jun 04, 2014 12:57 pm

Sun Nov 21, 2021 4:36 pm

Well it's entirely speculation from each of us anyways, but I think you guys are overestimating the % of people willing to commit tax fraud. Or disproportionately weighing their presence among the reseller group. 😂
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maddog76
Flipper
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Joined: Tue Aug 15, 2006 1:00 am

Sun Nov 21, 2021 4:59 pm

ygolohcysp wrote:
Sun Nov 21, 2021 4:36 pm
Well it's entirely speculation from each of us anyways, but I think you guys are overestimating the % of people willing to commit tax fraud. Or disproportionately weighing their presence among the reseller group. 😂
It's not tax fraud as the type of self dealing sales are not covered, that's the point and the reason NFTs are the scam haven they are. Proposed legislation would make the type of sales used to fake NFT value reportable. Once that happens the criminals will move on.
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acidburn
Art Daddy
Posts: 11751
Joined: Wed Nov 25, 2009 3:06 pm

Sun Nov 21, 2021 7:32 pm

Sounds like someone hasn’t reported his poster sales

Timeline of your comments:

March 2021 - Crypto end of our planet
November 2021 - Taxes end of Crypto

We can just add to this when we are still alive and paying taxes
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acidburn
Art Daddy
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Mon Nov 22, 2021 8:38 am

For the people who are interested in this, I hope some of you got into the Wolf game stuff. Crazy week for it. Ended up becoming like Farmville
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fredo
Art God
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Tue Nov 23, 2021 3:44 am

acidburn wrote:
Sat Nov 20, 2021 11:56 pm
Im sorry to hear that. Its obviously not for you and everyone should respect that opinion. I just can't imagine why you would want to put yourself into such a negative mindset where it gets you this angry.
I read this in a sedated, Jonestown-y tone.
just a foil for me today, thanks
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acidburn
Art Daddy
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Tue Nov 23, 2021 7:12 am

Join us

No but seriously this thread is really a few of us just going back and forth what we like to keep or trade and then 1 random person comes in here all Mama Bouchering it..

Image

Cool we get it.
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Codeblue
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Tue Nov 23, 2021 9:37 pm

I, for one, am ambivalent about it atm. Perhaps when/if I free up enough fiats, I'll try to #earngame like #NFTDaddy.
RupertPupkin wrote:I live by this rule and this rule alone: people are drymounting idiots.
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acidburn
Art Daddy
Posts: 11751
Joined: Wed Nov 25, 2009 3:06 pm

Tue Nov 23, 2021 9:56 pm

Codeblue wrote:
Tue Nov 23, 2021 9:37 pm
I, for one, am ambivalent about it atm. Perhaps when/if I free up enough fiats, I'll try to #earngame like #NFTDaddy.
Image
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HisBobness
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Location: California

Tue Nov 23, 2021 10:20 pm

Presale is over, should have posted this last week. Super excited of Genomes!

https://miso.sushi.com/auctions/0xA017E ... 500b4B3Cb9

DESCRIPTION:
GenomesDAO is a genomic data security company that democratizes and decentralizes genomics in Healthcare. Users make passive income on their DNA stored in AMD SEV-ES, vaults using DeFi Protocol governance and DAO membership is only achieved by staking GENE, the deflationary GenomesDAO utility token
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Codeblue
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Tue Nov 23, 2021 10:47 pm

acidburn wrote:
Tue Nov 23, 2021 9:56 pm
Image
Image
RupertPupkin wrote:I live by this rule and this rule alone: people are drymounting idiots.
derivitive
Art Connoisseur
Posts: 261
Joined: Mon Jul 22, 2019 11:05 am

Tue Nov 23, 2021 11:15 pm

acidburn wrote:
Mon Nov 22, 2021 8:38 am
For the people who are interested in this, I hope some of you got into the Wolf game stuff. Crazy week for it. Ended up becoming like Farmville
And now everything is shut down on the blockchain (how is that possible, honestly?) while they work out "issues" and continue to sell other items for the "upcoming game".

I can maybe understand the PFP being a membership, but anything that involves staking (not selling) to earn Disney Dollars (or whatever they want to call the make belief money that only is good "in game") is screaming of a pump and dump. I've called NFTs "ICO 2.0" previously, and this is lining up exactly with what happened during ICO 1.0. A "roadmap" and then "test release" would come out that people would buy into, the project would go on hold with less and less updates, and then it would eventually disappear/disband/be too "technically difficult".

Let's see who is right about Wolf Game :)
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acidburn
Art Daddy
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Joined: Wed Nov 25, 2009 3:06 pm

Wed Nov 24, 2021 6:59 am

There is absolutely no point of giving you an answer.
Let's see who is right about Wolf Game :)
I will never understand the enjoyment of watching ppl fail. It’s a common theme with your posts and I just personally can’t grasp that idea of that excitement. It must really suck.

I've spent 55-65 minutes total complaining about NFTs.
Updated your previous time.

This is the biggest fail of them all btw.

What you could have used with this time to better your life instead of caring whether or not I sold a digital wolf (I did) would probably be more self rewarding.
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