/biz/ - Business & Finance

Orderbooks looking thin again.
If someone bought 2 MNs from the sell wall it would pump 30%+

that looks primed to pump oooo

>>23843245
I've had a bearish outlook t b h and still think it could hit 500-600 sat territory but maybe the bottom is in?
Hard to say. Crypto's outlook is far more bullish than bearish as a whole over the next year.

XSN threads are always purely centered around the price. Pajeets detected, ngmi tbqh

I'd like to see some decent communication. I don't get how a dev team can act THIS autistic while the whole community simply floods them with great suggestions

>>23845015
out of funds, out of time.

4.04 is still the most recent version, no eth trading for me

>>23844564
>y-youre not allowed to talk about the price of an asset on a business and finance board
The absolute state of mental gymnastics.
>>23845015
>>23845467
Nah. They survived the 2018 bear and routinely delivered all throughout 2019 and this year.
Competitors are just starting to adopt L2 now because they realized X9 was right. They just refuse to admit it or give them any credit.
>>23845520
Could have ETH integrated by EOY. It's been a wip for some time now.
Still expecting it to make it into staging builds once the SSUI has passed rigorous stress-testing.

bump

Almost on my 9th node.
How much to make it anon?

>>23847363
10 nodes
Count keeps going up, there will be an inflection point when this rockets like all other alts. Gonna be great

>>23847363
The goal
>1 MN to make it
>5 MNs to live comfy
>10 MNs+ = fuck you money

>>23845909
Finally someone who can shed some light on what is going on. Fuck all this price talk, I want to know more about their actual tech, and when we can expect to see ETH integrated

>>23848368
Nobody knows that except for a few Ukrainian developers. Even Draper doesn't know.

>>23841858
Does this operate under wrapped conditions? serious question.

>>23848368
>>23848545
>all this price action
Look at the thread from yesterday.
>>23823607
>>23825538
>>23830096
>>23830488
Plenty of discussion about the state of the tech and what to expect. Plenty of fudders talking about the price going to 0. Now the same fudders are complaining about price being a talking point? Kek.

>>23848585
I don't believe there's a wrapped version of XSN itself, though it's been suggested as coins like DASH are doing that.
Early Raiden tests involved swapping BTC and wETH. Argument for using wETH being
>wETH is unique because it is backed by the security of ETH itself, so no loss of security or use of any side chains (it uses a smart contract on ETH to wrap the ETH, so it can go off chain/ have ERC-20 characteristics)
It will have native interoperability with ERC20s.
Goal being to swap real assets and avoid wrapped assets and sidechains as much as possible.

>>23841989
maybe they should, because I'm sick of the price of this shit being stuck to institutional exchanges and options traders. fuck them up the ass.

>>23848658
Thanks, seen so much FUD, it's getting tiresome seeing so much rage around this project. I'd much rather see a decent discussion around the project

But is it real btc or wrapped?

Also where to buy? Do I really need to use "livecoin"?

>>23848545
lmao the sad truth. A paki shoveling money from the treasury to hourly paid Ukrainian freelancer devs. Future of finance! Eth 3.0

>>23849608
Real BTC.
You can use Livecoin, or the DEX itself

Price needs to 4x in the very near-term, or they are forced to mint another ~10 million XSN. At that point it’s rip stakenet.

>>23849669
I buy on the dex. After public beta I stopped using livecoin altogether.

>>23841858
>>23848764
So let me get this straight...
Is this supposed to replace Binance? Can this be used for leverage trading?

Livecoin just pulled the rug. Good luck folks!

>>23849903
>So let me get this straight...
Totally organic discussion. Absolutely not someone from the discord.

>>23849903
Leverage trading cannot be pulled off yet, but you'll access to all major exchanges from the DEX. Not only Binance

>>23849608
>>23849839
Real BTC that's sent to a LN channel.
>>23849812
>>23849872
>>23849922
>>23849954
Do you ever get tired of spamming the same one-liners and expecting it to have an effect in a place like this (of all places) where it is stupidly easy to see you are being dishonest?
You will go the way of the Nolinker - seething all the way to your bitter end.
>>23849903
The question asked in yesterday's thread here >>23823607 is the last major area where the LN needs improvement to truly go head-to-head with something like Binance. Strides in submarine swaps and multi-path payments will provide an effective solution for the limitations of LN channels and their liquidity.
As L2 keeps being built up, it will become more and more a viable (and scalable) alternative to CEXs in a way that L1-based DEXs simply could not compete.

>>23850835
I'm sorry but he's right on that point, what a weird way of shilling.
I mean XSN is great, Im holding aswell, but wtf man.

>>23850930
>>23849954
>Totally organic discussion. Absolutely not someone from the discord.
I meant this point

>>23841858
Nobody wants this besides seething and coping bagholders.

>>23850958
Wait and see anon.. people will FOMO in on this one eventually

>>23850958
>n-no y-YOURE seething c-cope more
Spoken like a true /pol/ shill. XSN must be onto something right if you feel so obliged to opine on it.
>>23850962
Agreed. Remember, the last time this pumped, it did an 8x from when it was shilled around 600 sat. Half of /biz/ didn't care until it did a 4x and by that point they were complaining that no one put a gun to their head and forced them to buy when it was still cheap.
This is prime for astronomical levels of liftoff.

>>23851124
True, I only had a small bag when this mooned, and kind of kicked myself for not buying more. Since it looks like it has bottomed out, I'm at least buying a few more nodes.
It wouldn't surprise me to see $5 XSN one day.

>>23851439
This could hit double and, in the extreme, triple-digit prices if this alt cycle is anything like the previous two. 1000x returns are not out of the ordinary, especially if this proves to be the ETH or even NEO of the DeFi bubble.

>>23851982
With a 100 million coin supply, $100 XSN is doable, but it requires one big ass bullrun and a DEX used by millions of people

>>23848368
thread last night had lots of tech talk and the discord has multiple tech channels for the dex itself, lightning network in general, crypto markets overall, trading discussions, it's honestly a pretty interactive group of holders.

most og holders are turned off biz because of the active price fud and angry never-xsners, but it's generally pretty interesting people (Yankee and commander wolf being notable exceptions)

>>23852037
>one big ass bullrun
To hit $100
>a DEX used by millions of people
To sustain itself as a long-term project in crypto, yes.
In all fairness, what exactly did projects like NEO, EOS, or even XBY do back then? That BLOCK went from 4 cents to $60 within a year's time when it was in a relatively primitive and barely usable state at the time bodes well.
All of these coins hit absurd prices based purely off of hype and speculation.
>>23852149
My favorite XSN thread was probably the one where a full-fledged dev fight broke out. That was fun.

>>23852149
Yeah it was a nice change for once. Great thread. All that FUD is getting tiresome, with next to ZERO real arguments behind it.

bump

>>23852967
Multi exchange trades? Huh?

>>23853030
Oh yeah

No one cares about scamnet. Wake me up when my nodes are worth something.

>>23853277
Did you sell at 3 cents?

>>23841989
i keep the price low by only buying small amounts to increase my masternodes. i dont market buy xsn ever. i sometimes just buy the top selling orders on the book.

>>23854637
>i dont market buy
Smart move. The odds of immediately benefiting from FOMO'ing are arguably much lower than those of low-ball buy orders being filled.
I have 11 MNs rn. Hoping to crack 200k by EOY

>>23847363
>>23847552
sure but at the same time price will also crash 80% again. so maybe we hit like 80 cents and settle back on 30 cents for the next wait like with link.

can you quickly unlock your nodes and sell half of them to buy back twice as many later?

sadly i just bought my first node at 12 cents average right before the mini crash.

also i read somewhere you need a different IP address for each node?
and do you use that TPoS thing or strictly MNaas ?

>>23855188
you mean 200k xsn or 200k$ because i dont see the second one happening

>>23855205
200k XSN. I host my MNs from cold storage via MNaaS. This could also be done with TPoS.

>>23841858
bruh just use BoringDAO as a bank. the fuck. stakenet in 2020? it's not 2018 tradeogre szn sir. it's over.

How do you handle taxes with crypto in Burgerland? Buying, selling, and trading from one crypto to another. I'm just confused and don't want to be audited.

>>23855353
Fails to explain why Uniswap was so massively successful during the brief, drip in the ocean altrun we saw this summer or why suddenly you have many of XSNs competitors just now coming around to the idea that "hey, L2 is the way forward".
>>23855417
As an asset class, crypto is treated like property according to the IRS. It took them ages to clarify that it's exempt from the the like-kind exchange rules that real estate benefits from.
The guidelines for running masternodes aren't all too different from the guidelines for running ASICs to mine BTC in that the profits received are taxed at ordinary income rates and brackets like typical wages are.
Hypothetically speaking
>you earn $10 in XSN and it cost $1 in expenses ($9 profit)
>XSN moons
>the $9 you earn and owe ordinary income taxes on is now worth $500
>you cash out the $500 in <1 year - short-term capital gains aka ordinary income tax on the entire $500
>you cash out the $500 1 year and 1 day from receiving it - you owe taxes on the initial $9, the rest of your holdings are considered long-term cap gains
Tax burden can be offset by factoring in the expenses (electricity/hosting costs) and possible losses accrued.
As there are Bitcoin mining companies that operate as traditional businesses, it is very plausible that you could setup an S-corp around masternodes and find a good balance between tax-free distributions and what qualifies as deductible business expenses to greatly minimize tax burden.
You could also put it in a trust.

>>23855192
You just remove the masternode config line and it unlocks the funds.

>>23855955
Also like to add that long-term capital gains are taxed at 0% up to about $50k, 15% up to $450k or so, and 20% above that.
As C2C tx are considered a taxable event by the IRS, you can't by their logic convert your XSN into a stablecoin at ATH without it being subject to some form of capital gains.
The beauty of holding XSN while it's cheap is that the MN rewards you make are worth next to nothing. By the time they would theoretically be worth a lot and you hold for a year, you'd only owe taxes on the very trivial amount it was worth when you received it. 90 cents or what have you.
The idea of setting up something more official around it like an S-corp would really only be worthwhile in the event that XSN really takes off, you have a lot of MNs, and its netting you something north of, say, $50-60k/year. Then it would be an effective way to reduce your personal liability in the event that, say, the government decides to be retarded and pull some 180 on crypto as governments tend to do. It would also provide an avenue to avoid getting railroaded by the much higher tax brackets ordinary income is subjected to at much lower levels of income.

No one ever talks about how much it costs to go from layer 1 to layer 2 lmao. State channels will never work.

Start with a btc wallet and then trade $100 from that to the dex, to lighting, to a trade with xsn, back to btc, back to layer 1 and back your other btc wallet.

Literally pointless

>>23856049
Very helpful, thanks anon. Guess I'll look into calculating and recording electricity and prices and whatnot

>>23856331
>Start with a btc wallet and then trade $100 from that to the dex, to lighting, to a trade with xsn, back to btc, back to layer 1 and back your other btc wallet.
What you're describing isn't very different from sending BTC from one CEX, to another, buying high, selling low (the true /biz/ way), then sending the BTC back.
Only difference being that, instead of sending your BTC to wallets that aren't technically in your custody, you are sending them to LN channels and from wallets that are yours and yours alone.
Additionally, watchtowers will ensure that you can keep long-term buy orders up on L2-based exchanges regardless of whether your wallet is open or not.
So in one regard, it's about as expensive as the traditional CEX route if you routinely send back and forth from L1. In another, vastly superior to Uniswap in terms of fees, swap times, and swap success rates once on L2.

>>23856420
Worse comes to worse, it's great to consult with a CPA that knows how the IRS thinks.
If you get audited, they could probably find a solution that retroactively amends your taxes in the most optimal way.
Either that, or hide out in some place like Panama or Costa Rica if America decides to choke crypto lol

>>23856331
It wojld be pointless the way you describe it, yes. But it's not intended to be used that way. L2 will be the new L1 and one will not have to leave L2 for anything. RGB (Bitcoin L2 tech) just brought tokenization and smart contracts on Lightning. It's running on mainnet and Bitfinex is working on putting USDT on LN as a rgb L2 token. It just started and that's where the space is heading.

This tech is not ideal for short term high profits, but it's the future of the whole cryptospace and it's only chance to become mainstream

>>23856862
*would
*its

>>23856473
It was helpful to me to see that major exchanges are starting to adopt lightning. For example I can request a withdrawl/deposit to bitfinex via lightning. Which helps a lot with the issues you're talking about.

>>23854174
No i bought at 7 cents.

>>23856862
>>23856913
L2 is unbeatable for transferring funds around.
https://www.youtube.com/watch?v=J8FraG0Hb2A
Once more exchanges and fiat ramps follow Bitfinex's suit and adopt it, it should downplay the L1->L2 shuffling quite a bit and strengthen it's use case all the more.
>>23856934
>no one cares about scamnet
>also i bought at 7 cents, im up 50%, and i can't keep myself from coming back into the thread to be snarky about it
kek

>>23857067
Retard alert

Where is the layer 2 competition out there for Stakenet?
Iv been looking but dont really see any.
They all look to have some kind of flaw that always makes me discard them in the end after looking into them.

>>23857098
>getting triggered by a retard
lel

True injective protocol isn't the first or only DEX, the reason why everyone is so hyped about it, is because it's a cross chain DEX on Binance Smart Chain where there's a major link with other cross chain DEXs

>>23857457
Binance has routinely backed flops in the hopes that they can own a sizable cut of whatever takes off
It's own DEX was a joke

the problem is we are going towards DEXs not CEXs. Why would you spend all that work just to trade liquidity from a CEX
if devs had created uniswap in their day instead of this shit they woulda been rich

>>23857806
>full-fledged LN swap DEX
>also pulls from CEXs for additional liquidity
Have your cake and eat it too approach

>>23857308
Cope?