GST

Slut_for_Bacon

To be fair, you should know better than to use Robin Hood at this point either way. After what they did with GST, why anyone supports them is beyond me.

chefguy831

I've moved to a country where my visa status means I'm a temporary resident. As a temp resident I'm.not eligible for the same rights as citizens, but I also only have to play GST on in-country assets only, such as land or property. Everything else is ineligible as an asset for tax purposes. So my cryto gains, and stocks are all tax free

Physical-Ease-1554

Selling GST the other week for a small gain. Got in around .01 sold around .035… it ran to .15 the same day. Smh

KiefyJeezus

I bought based on low volume and being at all time lows GST and bam, other day 420%. similar with this amp and bam. GTC bam. not even knowing what it is just statistics and game theory. I am used to wait 6 months... now it happens within days

sandtastesbad

i currently make $30 a day with my setup. When I started, my set up wasn't nearly as good so I probably made something like that back then...but, if the craziest prices return than my set up would net $4,000 a day. I'm not expecting that, but if GST returns to a dollar, I'd be making $400 a day (I upgraded my GST limit to 400 a day from the normal 300 max). My current Annual Rate of Return on my setup is 154.12%. IF you are interested, and I do recommend it, make sure to read the white book as there are a lot of mechanics to understand so you know what kind of shoe to get and how many.

Jenn2895

Idk about GST. But SWFTC just got started. SWFTC has the potential to 100x-1000x. Super low mc, hasn't been listed on most exchanges yet, uses ai & machine learning (which we know is hot this cycle), duped the Chinese XRP.. Their tech is actually superior to xrp though. & XRP went from .005 to $3 last cycle!

joedirt9322

I watched GST hit 100% and I thought it would come down. Ended up going 600% before coming down. You are playing a dangerous game and I hope you update us when it catches up to you. Post on WSB too. They love this kind of stupid behavior.

Maximum_Reputation96

Any particular reason GST keeps pumping?

PovasTheOne

Its hurts to admit it, but Solana associated stuff seems to be pumping quite a lot so far. Im out here considering buying GST after it pumped 700% in one month 😭

MaxSmart1981

also, 15% isn't really all that 'crazy.' the price on GST, now that is a crazy price hike.

dozebull

What's GST?

bleakj

What's GST?

random_sociopath

The GST pump is so bizarre

Ok_Independent_1230

Everything red except GST? Stupid shitcoin

SnooAvocados5147

Are GST and SWFTC finished pumping?

ninpuukamui

Jesus Christ GST, stop the jet engine, you are clearly drunk.

lukekibs

GST seriously did not just do that. +400% in a day?

lukekibs

GST seriously did not just do that. +400% in a day?

Jemtex

no you nead a loan in FIAT the uses BTC as Collateral, then on GST even arises.

neen209

Oh wow! I’ll be looking into GST, thanks so much! Available on Coinbase?

Hot_Ask_3360

Check out GST 10mil Mc. 10$ all time high. At a penny rn. Could be 10-100xer. Thanks for TIME, just put that on my watchlist.

raidorz

That’s GST on the commission the brokerage charges.

Hot_Ask_3360

GST 10mil Mc. 10$ all time high. At .01. Can easily x100. Not financial advice.

TopOkra3537

It’s crazy. With real projects that are actually doing “something” like $MUSE $GST and $SWFTC still under $15m MC I can’t believe these memes get pumped to nine and 10 figures in less than 24 months.

Kitten_Team_Six

I know BONK is the talk rt now but anyone else gave hope for Stepn GMT and GST? Crazy low price on both

Frogolocalypse

What I said in the other thread that asked pretty much exactly the same question : Looks like the shenanigans time is starting again in bitcoin. My advice? DCA. Why? The only number that is important to me is the bitcoin yearly low price: 2012 - $4 2013 - $65 2014 - $200 2015 - $185 2016 - $365 2017 - $780 2018 - $3,200 2019 - $3,420 2020 - $4,565 2021 - $28,105 2022 - $15,635 2023 - $16,510 (so far) That is the growth of the hodlers. The people that are learning how bitcoin works for the first time now go through the hype cycle, and a few remain. Those people, like all before, continue to acquire bitcoin. As the supply halves. Don't get suckered in by the hype merchants. The DCA method teaches you a really important thing; How to secure your bitcoin. That shit is not easy and don't let anyone say otherwise. Why is it better with DCA? You see the stack grow. At first, you're going to be on an exchange. Leaving $100 on an exchange and doing something stupid with it and losing it will elicit a 'meh'. Doing it with $1000 and you're gonna go ouch. Doing it with $10,000... well. As your stack grows, that's the issue that you're faced with. Do you trust these faceless people to give you the bitcoin that you have bought when you want to access it? How do you know? You know by securing it yourself. Better learn that when you're doing it with under $1000. The other thing is that I'd suggest the best certain time to buy bitcoin as a lump sum would be at the exact time it hits a new ATH. What are the chances of hitting an ATH once and never again? Not very fractal. Universe doesn't work like that. Unless there's a black swan, and there's nothing you can do about that. That isn't going to happen for a while in bitcoin I'd expect, even in the most bullish scenarios. Learn how bitcoin works now, with bitcoin acquired by DCA. If you find it's all a bit hard, sell it, and then at least you will know without losing a stack. Dropping $30K on bitcoin when you don't know how to secure it is madness. You're asking to lose your money. Look at the numbers above. There's no rush. If you don't think it's working for you, exit from a position of understanding. My 2.2s (GST incl.) EDIT: You could carbon copy [the arguments](https://old.reddit.com/r/Bitcoin/comments/abznev/judge_bitcoin_by_yearly_lows_not_all_time_highs/) to today. EDIT2: [This](https://lopp.net/bitcoin.html) is the definitive place to source good information about bitcoin.

Frogolocalypse

Looks like the shenanigans time is starting again in bitcoin. My advice? DCA. Why? The only number that is important to me is the bitcoin yearly low price: 2012 - $4 2013 - $65 2014 - $200 2015 - $185 2016 - $780 2017 - $3,200 2018 - $3,245 2019 - $3,420 2020 - $4,565 2021 - $4,126 2022 - $15,635 2023 - $16,510 (so far) That is the growth of the hodlers. The people that are learning how bitcoin works for the first time now go through the hype cycle, and a few remain. Those people, like all before, continue to acquire bitcoin. Don't get suckered in by the hype merchants. The DCA method teaches you a really important thing; How to secure your bitcoin. That shit is not easy and don't let anyone say otherwise. Why is it better with DCA? You see the stack grow. At first, you're going to be on an exchange. Leaving $100 on an exchange and doing something stupid with it and losing it will elicit a 'meh'. Doing it with $1000 and you're gonna go ouch. Doing it with $10,000... well. As your stack grows, that's the issue that you're faced with. Do you trust these faceless people to give you the bitcoin that you have bought when you want to access it? How do you know? You know by securing it yourself. Better learn that when you're doing it with under $1000. The other thing is that I'd suggest the best certain time to buy bitcoin as a lump sum would be at the exact time it hits a new ATH. What are the chances of hitting an ATH once and never again? Not very fractal. Universe doesn't work like that. Unless there's a black swan, and there's nothing you can do about that. That isn't going to happen for a while in bitcoin I'd expect, even in the most bullish scenarios. Learn how bitcoin works now, with bitcoin acquired by DCA now. If you find it's all a bit hard, sell it, and then at least you will know without losing a stack. Dropping $30K of bitcoin when you don't know how to secure it is madness. You're asking to lose your money. Look at the numbers above. There's no rush. My 2.2c (GST incl.)

WolfPhophet78

Hi, thanks for adding some comments. I don’t use wallet as I feel it is set up for you to lose money. I’ve researched GST quite a bit and I’m a little confused why it doesn’t get a shout out. Over the next 2 years it’s expected to boom. Surely at the price it is, would be worth at least a little bit of money to grab some. If everybody keeps buying the same it only lowers the price. The whole industry is getting bigger. Other coins / tokens will smash? No?

WolfPhophet78

What is green satoshi token used for? Green Satoshi Token (GST) is the utility token of the STEPN ecosystem, it's used as an in-game currency and alternative to experience points. GST is required for repair, upgrade and mint NFT Sneakers. GST can be earned when users move in Solo mode or Background mode

InsaneMcFries

While they are right, India’s taxation of crypto is far from desirable. 30% on gains, 14% GST and a 1% tdb. It’s already off putting enough for the consumer

moki339

It's corporate tax since I'm incorporated. I have an invoice coming in at the end of the month but if I'm late for GST/QST (Canada), then the penalty is hefty. I did some good this year back home and had a couple of months of no income. Unfortunately I'll have to tell fam back home that I'm cutting down so that I fix cash flow. Also, when I finally found a contract.. I worked the whole month, invoiced, and wouldn't get paid till 30 days after invoicing (maybe TMI, maybe you find it interesting)... so my cash flow is all over the place now.

LotsofSquiggles

Can someone tell me, would having a CBDC help catch businesses who avoid paying taxes & GST?

nullc

He claimed to own a bunch of addresses from the 'bitcoin rich list' as part of varrious pieces of tax fraud. E.g. 1feex he claimed he spend $1.68 million dollars on and requested a refund of the sales tax. Wright was a trendsetter, [GST rebate fraud has since become a big deal in Australia](https://www.afr.com/companies/professional-services/absolutely-rampant-how-the-ato-missed-a-4-6b-crime-wave-20230812-p5dw0l). > And why would the owner of that address be satoshi? They wouldn't! This particularly bit of fraud from him is largely independent of his claim to be Satoshi. It looks like he started off with smaller lies and when those fell through he advanced to more elaborate ones. The particular advantage he gets from it now is that since his claim to own those addresses is largely independent of his claim to be Satoshi he didn't need to wait for the case over his identity and can continue suing us even after he loses his other court case on his identity.

Tasigur1

1. **Germany** is one of the most crypto friendly countries when it comes to investments. If you hold your crypto investments for over a year, they won’t be considered capital assets. Instead, your investments will be treated as private money, and you won’t need to pay any taxes on them. 2. Back in September 2021, **El Salvador** announced it would accept Bitcoin as legal tender. Since then, the country has been actively taking steps to attract more investment into its economy through cryptocurrency. They take this even further by excluding foreign investors from paying any taxes on their crypto gains. 3. **Singapore** is one of the best countries for investing in crypto. Capital gains tax is not levied on individual investors for buying and selling crypto assets. However, if you’re a business earning crypto in exchange for goods or services, you might need to pay income tax. As of now, the GST for trading crypto is 7%. 4. **Portugal** is a country with beautiful beaches and tax-free crypto investments. Whether you’re trading, buying, or selling crypto — you are not liable to pay any taxes whatsoever. Unless you’re a business, you can exempt your crypto income from VAT and income tax in Portugal. 5. **Switzerland,** thanks to its friendly crypto tax policies and thriving economy. The country only levies a tax on mining, and there’s no capital gains tax. However, the value of your crypto assets will be taxable — whether you’re a private investor or a business. 6. The **United Arab Emirates** is becoming an emerging hub for crypto and blockchain. The government is constantly working on reforming laws and regulations to promote these technologies. Recently, Ras Al Khaimah, one of the seven Emirates of the UAE, launched a free zone for digital and virtual asset companies — allowing them to operate without any restrictions. This means 100% foreign ownership, no corporate or personal income tax, and 0% customs duties. 7. **Malaysia** — a neighboring country to Singapore, has lenient taxation laws. Here, cryptocurrencies are not considered capital assets; hence, non-repetitive transactions are tax-free for individual investors. This means if you trade daily, you might have to pay taxes on your income. 8. Often referred to as ‘Blockchain Island,’ **Malta** is conducive for crypto investments. The country is home to popular exchanges like Binance — offering them a friendly regulatory environment for operating across the European Union. Here, there are no taxes for long-term capital gains. However, for short-term capital gains, you may be liable to pay taxes between 0-35% based on your income. 9. The **Cayman Islands** have been a heaven not only for crypto investors but also for traditional businesses dealing in fiat currency. No tax is imposed on your crypto income. In fact, there is no income tax or any corporate tax in the Cayman Islands. The government here earns through tourism, work permits, and import duties, which can be anywhere between 22-26% on most imported goods. 10. **Puerto Rico** is considered an unincorporated territory of the US. However, as far as Federal Income Taxes are concerned, it is a foreign country. This allows Puerto Rico to set its own tax rules. Here, residents pay significantly lower taxes than in the US, and all digital assets are excluded from capital gains tax. This means any crypto investment you make after establishing residency in Puerto Rico will be completely tax-free. 11. With a cost of living index of 141.8, **Bermuda** is the costliest country to live on the planet. Here, you neither have to pay income tax nor capital gains tax. There are no restrictions on trading as well. You can trade any volume of crypto and sell it immediately or hold it for as long as you like. Irrespective of your profits, the government will not impose any taxes on your income. Thus, it is one of the best countries for crypto. 12. One of the early adopters of crypto, **Japan** started accepting Bitcoin back in 2017 and has approved several crypto exchanges since then. This increased the number of businesses accepting crypto payments and made it easy for consumers to use Bitcoin across the country. ​ **Source**: https://www.tryspeed.com/blog/top-12-crypto-tax-free-countries-2023/

vortexredemption

I'd happily pay 57% FLAT TAX if it meant \*every other tax\* was abolished and the quality of life improved to reflect this. For my 57% I was zero GST, zero petrol excise, free healthcare at ALL levels, better parks, better roads, \*good\* care for the eldery in retirement living and anyone else under state care. Basically you make it so I don't \*need\* 57% of my income to be comfortable then you can have it to help make \*everyone\* comfortable.

Bigfatguy3438

In our country, we now have to pay GST on Gambling as well. That too this biggest slab ie 28%

LargeSnorlax

Smart - Outsource the creation of your new ponzi game, finance it with your second ponzi token (GMT), tank the value of GMT when everyone sells it, and get your existing userbase moving to your new game because no one earns anything on the old game. For those who haven't paid attention to Stepn, the original [ponzi token was GST](https://www.coingecko.com/en/coins/green-satoshi-token) - Which collapsed during the first boom, only to be replaced with [their second ponzi token, GMT](https://www.coingecko.com/en/coins/stepn) The "game" is to exercise with ponzinomics introduced. Loot boxes, shoe degradation/repair, gems, scrolls, level ups and whatnot, can keep you entertained literally forever. But yeah, I guess they weren't raking in enough from it anymore now that people don't like taking 30 minute walks for 10 cents, so let's restart the whole process and sucker a bunch of new fools.

YuntHunter

Made about 10k shorting GLP and GST on FTX so I love it.

brandonaaskov

This is a huge deal, and I actually think it’s violating some KYC/AML laws. But if it’s not, it sets a huge precedent for other apps. I paid that Apple tax yesterday to test the flow and here’s why it’s a big deal: 1. Bought a sneaker with Sparks, paying the Apple tax 2. Sell the NFT and get $GMT 3. Send $GMT to external wallet There are other fun game mechanics that uses $GST and $GMT, and you have to move all tokens in an annoying way: Stepn creates you a non-custodial wallet that you need to save the recovery phrase for, and you have to move assets from that into a “spending wallet” in the app. It’s an extra step just to hand over custody of your assets to the app, and I wonder if that’s the key to complying with Apple’s guidelines. The reason this isn’t typical is because within minutes I can turn a card payment into crypto, and that’s supposed to happen through proper fiat on and off ramps that have licensing for this. This runs a much larger risk of fraudulent cards being used. Chargebacks would be charged to Stepn but the bad actors would have already made off with that value and extracted it from the system, which would stick Stepn with the bill.

KoreanJesusFTW

Keep records. Look at the acquisition time in the respective block explorer. Save screenshots and copies of the said transaction pages. This will be difficult to track if you are just using an exchange wallet but the Australian registered exchange would also have record that they submit annually. If you have a self-custodial wallet, it will be even easier to prove that you had it for a year - in and out records will be in it - or the link to the transaction entry in the blockchain for the respective time periods (both buy and the sell). When you submit your tax return, simply declare the capital gains divided by 2 - the discount is 50% for holding it over a year off the applicable tax. The max tax rate is 40% so half that is 20%. ATO will come back with the total payable after the assessment. Lastly, note that crypto obtained from mining and spent on personal things are not taxed - at all. It's only fair. People pay tax on the income that you use to pay the power bill that also includes tax, aaaaand the personal items that you spent the crypto on also got GST on them too ALREADY!!! What's next? You breathe, you fart, you get taxed too? XD

midnightcaptain

Yes, it is. This is in the section talking about fees you might pay to Metamask for their (premium) services. It explains that you are responsible for paying any taxes on those services (sales tax, VAT, GST etc), but they also reserve the right to withhold tax (charge and pay on your behalf) if they're legally required to. In other words the same kind of terms you'd see when buying any kind of product or service online. Nothing to do with them forcing you to pay taxes on your crypto, which they obviously can't do because they don't have access to your private keys.

itst0ny

Just 5 but minted another 5. Was earning a decent amount then the OGs started dumping GST and ruined it.

UpLeftUp

He's not rich. He was earning $90k a year as a consultant for BDO before being fired. He then committed tax fraud in Australia, falsely claiming GST credits worth millions, and when the Australian Taxation Office started investigating, he fled to the UK. He forged a paper wallet for the 1FeexV6bAHb8ybZjqQMjJrcCrHGW9sb6uF bitcoin address, and put that up as 'collateral' to get funding from a billionaire (Calvin Ayre). His 'wealth' is all a show. He posts photos online to try show how wealthy he is, but those are regularly debunked as either being stock images of someone's boat, forged wine labels etc. He's recently filed paperwork with a US Court stating he basically has no assets.

BoldManoeuvres

I mean most transactions in any country are taxed, GST here in Australia, VAT in other countries...

ripple_mcgee

Recent court decision now allows merchants to pass that fee onto customers, anyone using a credit card. My buddy owns a cafe and he is very pro crypto, says the only thing stopping him is the confusion and added effort in figuring out taxes/GST.

Socialinfluencing

The IRS would tax breathing if they could, oh wait they already do that in the form of GST. Leave the NFT's alone.

Gr8WallofChinatown

Fuck that I’ll save the community trouble from your shill post STEPN pays you 1 GST for 5 minutes of activity which is 2 cents. Garbage waste of time. It forces you to buy a SNEAKER NFT for 60-200 USD++++ This is just a NFT money scam scheme SWEAT is also a NFT money scam scheme too and compensates you in SWEAT which is worth .008 cents. You’re just trying to shill these NFTs. Waste of time

cryptomakesmehard

Yes you are paying 20.5 percent federally (in 2022) its up now , you are also paying provincial tax depending where you reside which can be from 5% all the way to 24%. Food is taxable here in Canada, only the most basic ingredients are taxed. Here in the province I reside in there is also a sugar tax, on top of the 15% GST. On your average grocery bill hour paying 10% taxes at least. Also fuel (gas, diesel) in this province is 25-30% more expensive then other parts of Canada. A 6 pack of beer in this province is 20$ CAD a watermelon is 8-10$, 400gram brick of cheese regular price is 8.29 at 1lb of butter is 6-7$ Canadian. Diesel for example was between 7.74 cents a gallon to 11.70 a gallon within the past year. Canadas fucked

Concept-Plastic

Ban whatever you can't take control of. No wonder all private crypto companies are taking their businesses out of India. I mean the laws are just ridiculous, they already treat crypto similar to gambling. There's a 31% tax on cryptocurrencies, and they are planning to increase it to 52% by adding GST on top of it. This includes a TDS of 1% on EVERY crypto transaction.

TOXICCARBY

India has been very hostile towards crypto. The tax rate is high (31%) and it might be increased to 59% if they implement GST on crypto. All exchanges over here aren’t allowed to let customers withdraw their crypto to external wallets, you must hodl on an exchange and we’ve seen how that’s played out with FTX. The only way to actually use crypto in India is through P2P websites.

cryptotentnew

Same in Canada and it would be a nightmare to use Bitcoin or any crypto to constantly spend as we would have to figure out when we purchased it, when we spent it and pay taxes on the gains we made on it at the time of spending as well as the normal taxes on the product we purchases with it, so basically a double tax or in Canada's case a triple tax of capital gains, GST + PST., or if you live in any Province with a luxury tax then depending on what you buy, a quadruple tax. Not worth it, just hodl.

King-esckay

If you accept payment in Bitcoin, depending on the country, you still need to pay taxes in fiat We have GST, if an item cost $110, $10 is tax and has to be paid in fiat, if you collect t and store bitcoin you can end up cash flow negative, if you cash out to have the cash flow it's a taxable event, admin and book keeping is much more complicated. Small operators like myself it not such a big deal if you can even find a crypto savvy accountant. but a large company would have an accounting nightmare.

anoneatsworld

So, instead of GST you’d have gas fees. Plus the spread you pay when you buy the CC plus the spread you pay once you convert back. Plus a spread a merchant might charge to secure himself from that FX risk he essentially takes (as he has to do his income tax in the legal local currency, not in a CC). That can easily be more expensive. The tech is there and that topic can be considered solved tbh. You NEED to fully focus on the legal and economic aspects now. That’s not even 2% done.

ArticMine

... but only **within** India. Are international payments allowed? I seriously doubt it. India has strict exchange controls. The real advantage for crypto payments is for international payments. Try using a card payment for an international cross currency transaction and then track the hidden fees and charges. For example ~5% surcharge on the exchange rate, followed by an international transaction surcharge to the merchant. Regulating the fees charged to merchants by the card companies as is the case in the EU does not work for international payments. If I use my Canadian credit card in the EU, I end up directly or indirectly paying more than the Canadian GST on top of the EU VAT on a retail purchase. This "GST" is solely due to extra fees charged by the card companies.

IHaventEvenGotADog

>The Liquidators’ remuneration received for the period between 15 May 2022 to 14 November 2022, charged at the hourly rates, totalled $723,760 exclusive of GST. Ho lee shit

Kitten_Team_Six

I like the high risk stuff because i like to gamble so im big into ONE, GRT, YFII, GST They are all down like 90% so im long on all

sjcarey9

Rolling blackouts in Ukr makes it hard to sell the intangibles like BTC and crypto. But somehow the Ukrainians do manage to sell it. Hold Au / Ag - even when the power is off ... there it is. And no sales tax on bullion. When I tell friends no GST aka VAT they all ask why.

VagueInterlocutor

I was on the Apple Train for about a decade. Went all in. Devices, servers, lappys the whole shebang. I finally got off and I'm not looking back. Swapped out MacOS on my older lappy for a Linux distro and moved to Android. My daily driver cost 1/2 as much but double the specs of the equivalent MBP (not only are Apple products expensive, but there is a disproportionate conversion that is more than the exchange rate + GST, even though shipping to AU is cheaper from China that it is sending them to the US) Thinking they can take a cut of a crypto gas fee?! They might as well ask banks to take a cut of online banking app transfers, or any stock apps that buy/sell stocks. It's ridiculous. It's _bad_ and they should _feel_ bad.

coinfeeds-bot

tldr; The administrator at Anil Ambani-owned Reliance Capital has told lenders that the highest bid received for the insolvent financial services company is 60% below its aggregate liquidation value, making it imperative to seek improved plans from bidders, according to reports. This comes after India’s goods and services tax (GST) collections rose 11% in November from a year earlier to ₹1.46 lakh crore. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

yourmom_fat_as_hippo

>How would governments continue earning revenue through income taxes? That's the reason why there will always be regulations by government before it becomes mass adopted. The mass adoption of BTC will only happen if more and more countries accpet it as a legal tender, alongside their national currency. So, yes, the government will never stop receiving taxes. Also, the taxes will remain the same after in case of indirect taxes like sales tax, GST etc as you pay it OTC to the business. About income, I think your employer will be required to submit the proofs of your salary (it is happening right now too) or else, cut TDS. Anyhow, government will never stop taxing you.

WB_7

Well if you were recently offered I don’t blame you, back then the coin you earned called GST was $5 now I’ve just checked and it’s 2 cents lol. I did look at coin hunt world but I think I’m right in saying it isn’t available on iOS, I’m also a bit skeptical of sweatcoin tracking all my movements..

Kitten_Team_Six

Im buying the hell outta ONE, MATIC, GST, ATOM and many others. Am i the idiot? We shall see

Kitten_Team_Six

Im buying the hell outta ONE, MATIC, GST, ATOM and many others. Am i the idiot? We shall see

TOXICCARBY

28% GST also

TOXICCARBY

30% base tax + 28% GST + 1% TDS

CCkellboy

GST.X popping big time +100%

kvothe5688

in india we have sovereign gold bond issues by govt. RBI issue it every year. you buy at issue price which usually matches current gold price. you get 2.5 percent interest per annum. also no GST when buying or selling. and whatever profit you get due to price fluctuations at the maturity is tax free. it's way better than physical gold where gst is deducted when buying and also you have to worry about security and transportation

Single_Ad_2479

India did something similar by throwing away the prevalent currency bills via an overnight decree by PM. Unlike Nigeria, it was done with zero prior warning, and no reasonable deadline to swap sizable amounts. It's in complete contrast to the central bank's (RBI governor's) signed promise written on the paper bills, that sum of the bill's value is ensured to its holder! The value that is insured by the central bank (RBI) to be given back to bank account holders, in case their banks somehow go bust, is capped at maximum of 5 lacs INR or around $5000 US (no matter if one had higher savings than that), and lower in case balance was lower to begin with. Occasionally the Internet gets switched off, as and when and where, it's needed, to quash outbursts like that of in the state of J&K. A 30% Personal + 12&12% EPF + 18% GST which is a whopping 72% Tax, that's levied directly or indirectly. While the inflation rate keeps soaring around 8% YoY, the Bank or Post Office FD rates are kept strictly below the inflation rate instead of above or equal. A recent new law can imprison citizens based on Hate Speech against PM (National head minister) & CM (A state's head minister), which can be done by the Police without any need of filed complains (FRI) whatsoever. The market regulator (SEBI) a couple years back even took out the provision of margins (loans) away from retailers in the public stock trading. Yet, banks won't ever give out loans below the inflation rate, say 8%. All the while, almost every quarter, a new thousand crore loan defaults keep making news, that's a 10 digits INR amount. It hopelessly feels like an abhorrent abuse of democracy, which is partly enabled by uninterested voters, and also partly due to the lack of options in politicians that even look for public interest.

Single_Ad_2479

India did something similar by throwing away the prevalent currency bills via an overnight decree by PM (National head minister). Unlike Nigeria, it was done with zero prior warning, and no reasonable deadline to swap sizable amounts. It's in complete contrast to the central bank's (RBI governor's) signed promise written on the paper bills, that sum of the bill's value is ensured to its holder! The value that is insured by the central bank (RBI) to be given back to bank account holders, in case their banks somehow go bust, is capped at maximum of 5 lacs INR or around $5000 US (no matter if one had higher savings than that), and lower in case balance was lower to begin with. Occasionally the Internet gets switched off, as and when and where, it's needed, to quash outbursts like that of in the state of J&K. A 30% Personal + 12&12% EPF + 18% GST which is a whopping 72% Tax, that's levied directly or indirectly. While the inflation rate keeps soaring around 8% YoY, the Bank or Post Office FD rates are kept strictly below the inflation rate instead of above or equal. A recent new law can imprison citizens based on Hate Speech against PM (National head minister) & CM (A state's head minister), which can be done by the Police without any need of filed complains (FRI) whatsoever. The market regulator (SEBI) a couple years back even took out the provision of margins (loans) away from retailers in the public stock trading. Yet, banks won't ever give out loans below the inflation rate, say 8%. All the while, almost every quarter, a new thousand crore loan defaults keep making news, that's a 10 digits INR amount. It hopelessly feels like an abhorrent abuse of democracy, which is partly enabled by uninterested voters, and also partly due to the lack of options in politicians that even look for public interest.

Single_Ad_2479

India did something similar by throwing away the prevalent currency bills via an overnight decree by PM (National head minister). Unlike Nigeria, it was done with zero prior warning, and no reasonable deadline to swap sizable amounts. It's in complete contrast to the central bank's (RBI governor's) signed promise written on the paper bills, that sum of the bill's value is ensured to its holder! The value that is insured to be given back to bank account holders in case the bank somehow goes bust, is maximum $5000 US or the account's value, if that's lower, by the country's central bank (RBI). Occasionally the Internet gets switched off, as and when and where, it's needed, to quash outbursts like that of in the state of J&K. A 30% Personal + 12&12% EPF + 18% GST which is a whopping 72% Tax, that's levied directly or indirectly. While the inflation rate keeps soaring around 8% YoY, the Bank or Post Office FD rates are kept strictly below the inflation rate instead of above or equal. A recent new law can imprison citizens based on Hate Speech against PM & CM (A state's head minister), which can be done by the Police without any need of filed complains (FRI) whatsoever. The market regulator (SEBI) a couple years back even took out the provision of margins (loans) away from retailers in the public stock trading. Yet, banks won't ever give out loans below the inflation rate, say 8%. All the while, almost every quarter, a new thousand crore loan defaults keep making news, that's a 10 digits INR amount. It hopelessly feels like an abhorrent abuse of democracy, which is partly enabled by uninterested voters, and also partly due to the lack of options in politicians that even look for public interest.

Single_Ad_2479

India did something similar by throwing away the prevalent currency bills via an overnight decree by PM (National head minister). Unlike Nigeria, it was done with zero prior warning, and no reasonable deadline to swap sizable amounts. It's in complete contrast to the central bank's (RBI governor's) signed promise written on the paper bills, that sum of the bill's value is ensured to its holder! The value that is insured to be given back to bank account holders in case the bank somehow goes bust, is maximum $5000 US or the account's value, if that's lower, by the country's central bank (RBI). Occasionally the Internet gets switched off, as and when and where, it's needed, to quash outbursts like that of in the state of J&K. A 30% Personal + 12&12% EPF + 18% GST which is a whopping 72% Tax, that's levied directly or indirectly. While the inflation rate keeps soaring around 8% YoY, the Bank or Post Office FD rates are kept strictly below the inflation rate instead of above or equal. A recent new law can imprison citizens based on Hate Speech against PM (National head minister) & CM (A state's head minister), which can be done by the Police without any need of filed complains (FRI) whatsoever. The market regulator (SEBI) a couple years back even took out the provision of margins (loans) away from retailers in the public stock trading. Yet, banks won't ever give out loans below the inflation rate, say 8%. All the while, almost every quarter, a new thousand crore loan defaults keep making news, that's a 10 digits INR amount. It hopelessly feels like an abhorrent abuse of democracy, which is partly enabled by uninterested voters, and also partly due to the lack of options in politicians that even look for public interest.

Single_Ad_2479

India did something similar by throwing away the prevalent currency bills via an overnight decree by PM. Contrary to central bank's (RBI governor's) signed promise written on the bills, that makes promise to give bill's value to its holder. Unlike Nigeria, it was done with zero prior warning, and no reasonable deadline to swap sizable amounts. The value that is insured to be given back to bank account holders is around $5000 US if the bank somehow goes bust, from central bank (RBI). Occasionally the Internet gets switched off, as and when and where, it's needed, to quash outbursts like that of in the state of J&K. A 30% Personal + 12% EPF + 18% GST = 60% Tax is levied directly or indirectly. While the inflation rate keeps soaring around 8% YoY, the Bank or Post Office FD rates are kept strictly below the inflation rate instead of above or equal. A recent new law can imprison citizens based on Hate Speech against PM (National head minister) & CM (A state's head minister), which can be done by the Police without any need of filed complains (FRI) whatsoever. The market regulator (SEBI) a couple years back even took out the provision of margins (loans) away from retailers in the public stock trading. Yet, banks won't ever give out loans below the inflation rate, say 8%. All the while, almost every quarter, a new thousand crore loan defaults keep making news, that's a 10 digits INR amount. It hopelessly feels like an abhorrent abuse of democracy, which is partly enabled by uninterested voters, and also partly due to the lack of options in politicians that even look for public interest.

Single_Ad_2479

India did something similar by throwing away the prevalent currency bills via an overnight decree by PM. Contrary to central bank's (RBI governor's) signed promise written on the bills, that makes promise to give bill's value to its holder. Unlike Nigeria, it was done with zero prior warning, and no reasonable deadline to swap sizable amounts. The value that is insured to be given back to bank account holders is around $5000 US if the bank somehow goes bust, from central bank (RBI). Occasionally the Internet gets switched off, as and when and where, it's needed, to quash outbursts like that of in the state of J&K. A 30% Personal + 12% EPF + 18% GST = 60% Tax is levied directly or indirectly. While the inflation rate keeps soaring around 8% YoY, the Bank or Post Office FD rates are kept strictly below the inflation rate instead of above or equal. A recent new law can imprison citizens based on Hate Speech against PM (National head minister) & CM (A state's head minister), which can be done by the Police without any need of filed complains (FRI) whatsoever. The market regulator (SEBI) a couple years back even took out the provision of margins (loans) away from retailers in the public stock trading. Yet, banks won't ever give out loans below the inflation rate, say 8%. All the while, almost every quarter, a new thousand crore loan defaults keep making news, that's a 12 digits INR amount. It hopelessly feels like an abhorrent abuse of democracy, which is partly enabled by uninterested voters, and also partly due to the lack of options in politicians that even look for public interest.

Single_Ad_2479

India did something similar by throwing away the prevalent currency bills via an overnight decree by PM. Contrary to central bank's (RBI governor's) signed promise written on the bills, that makes promise to give bill's value to its holder. Unlike Nigeria, it was done with zero prior warning, and no reasonable deadline to swap sizable amounts. The value that is insured to be given back to bank account holders is around $5000 US if the bank somehow goes bust, from central bank (RBI). Occasionally the Internet gets switched off, as and when and where, it's needed, to quash outbursts like that of in the state of J&K. A 30% Personal + 12% EPF + 18% GST = 60% Tax is levied directly or indirectly. While the inflation rate keeps around 8% YoY, the Bank or Post Office FD rates are kept strictly below the inflation rate instead of above or equal. A recent new law can imprison citizens based on Hate Speech against PM (National head minister) & CM (A state's head minister), which can be done by the Police without any need of filed complains (FRI) whatsoever. The market regulator (SEBI) a couple years back even took out the provision of margins (loans) away from retailers in the public stock trading. Yet, banks won't ever give out loans below the inflation rate, say 8%. All the while, almost every quarter, a new thousand crore loan defaults keep making news, that's a 12 digits INR amount. It hopelessly feels like an abhorrent abuse of democracy, which is partly enabled by uninterested voters, and also partly due to the lack of options in politicians that even look for public interest.

Single_Ad_2479

India did something similar by throwing away the prevalent currency bills via an overnight decree by PM. Contrary to central bank's (RBI governor's) signed promise written on the bills, that makes promise to give bill's value to its holder. Unlike Nigeria, it was done with zero prior warning, and no reasonable deadline to swap sizable amounts. The value that is insured to be given back to bank account holders is around $5000 US if the bank somehow goes bust, from central bank (RBI). Occasionally the Internet gets switched off, as and when and where, it's needed, to quash outbursts like that of in the state of J&K. A 30% Personal + 12% EPF + 18% GST = 60% Tax is levied directly or indirectly. While the inflation rate keeps around 8% YoY, the Bank or Post Office FD rates are kept strictly below the inflation rate instead of above or equal. A recent new law can imprison citizens based on Hate Speech against PM (National head minister) & CM (A state's head minister), which can be done by the Police without any need of filed complains (FRI) whatsoever. The market regulator (SEBI) a couple years back even took out the provision of margins (loans) away from retailers in the public stock trading. Yet, banks won't ever give out loans below the inflation rate, say 8%. All the while, almost every quarter, a new thousand crore loan defaults keep making news, that's a 12 digits INR amount. It hopelessly feels like an abhorrent abuse of democracy, which is partly enabled by uninterested voters.

ShreyashKesar

And has upcoming additional 18% GST in paperworks

LargeSnorlax

It was actually wildly profitable at the beginning. I threw some SOL i had lying around into some sneakers and ran my ass off while GST was around $3. I actually bought a throwaway phone during a vacation to run and made as much as I paid for the vacation. LOL That being said, I didn't overinvest because it was super obvious that the earning mechanism was broken and was going to devolve really quickly. I pulled 85% of my initial out and just run for fun now with it. You still get a couple bucks a run but nothing serious these days. Honestly, if you're looking for ways to motivate yourself, it isn't the worst, just don't get too sucked down the rabbithole of gamification :)

JustinCompton79

I have 500 invested and earn .80-$1 a day, but need to spend GST to repair shoes. FML

NormalEffect99

I was in over the summer. I got in super cheap when they crashed hard and sol was down, and was able to ROI and then sell my shoes for profit. Used the funds for reddit avatars, great fucking move. Feel terrible for the people that got in when shoes were thousands of dollars. They fucked over the OG users by releasing more "chains", which were the same game running on BNB and APE coin. Shoes and stats were non-transferable between chains, and the GST price was wildly different. They basically saw SOL crash and bottom out because their tokenomics were insanely stupid, and ran the same gimmick two more times to flush out more profit from unsuspecting users or people desperate to get some investment back, so they doubled down on a new chain. The horror stories from the stepn sub are sad honestly, it is a literal definition of a ponzi. Tokens created daily out of thin air, and the only liquidity coming in is new users. Once the new users stopped coming in, no liquidity, price crash, everyone holding $7,000 shoe nft bags that earn $1 a day for 45 minutes of running.

NamelessHooman

Something like moons. Something like GST and GMT in stepN move to earn game.

Mr_Bob_Ferguson

I’m in Australia too, but when I’ve been to the US you go to McDonalds and the price displayed isn’t the “all inclusive” price. The “dollar menu” is actually a dollar, plus sales tax on top. It is the equivalent of us excluding GST in all displayed prices, but charging it at the register. It’s been a few years since I went to the US, so maybe it has improved now. …and let’s not get started on mandatory (not mandatory) tipping culture!

YuntHunter

STEPN, so GMT and GST have already been doing it. Take a look at the GST chart 😂. I don't know what the tokenomics are for SWEAT but if you are earning tokens presumably that is constant downward pressure on the price as people sell and it's inherently inflationary? By the way I heard about it months ago and steered clear then, so you're not early either. Also these tokens tend to have awful distribution and unlock schedules. You will be nothing but exit liquidity.

devboricha

Meanwhile in India : 30% flat tax + 6% cess + 18% GST + no loss offset

bs_is_everywhere

There is GST on equity brokerage, so why not brokerage on fees exchange charge. Doesn't sound anything extraordinary to me. OP just wants to create click bait.

coinfeeds-bot

tldr; India's Ministry of Finance is reportedly working on how the goods and services tax (GST) could apply to crypto transactions. "We are still discussing the applicability of GST in the case of crypto assets. Right now, it is levied on services, so we need to see if crypto assets are declared as a good or service," a source said. The GST will only be applicable on the margin or service fees, and not the entire value of the asset. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

NormalEffect99

Even then, no guarantees. Early stepn investors got fucking rekt when GST bottomed out. $7,000 nft shoe is cool and all when it's making you $150 a day, not so cool when it's making you $4.36 a day.

Status_Floor1746

Nada I got in spending 4 SOL walked my butt off for a couple of weeks and turned my GST into USDC in the app then when SOL crashed into the 29's converted my USDC into SOL! TBH it was an extremely lucky move that worked out well for me. I also bought a couple of shoes for 0.60 SOL which now is worth 1.30 SOL so I have those also sitting on the side. ​ Again super lucky with the moves!

lorenzomofo

Yeah but that was laid out at the start in the tokenomics. The more you walk the more GST you got. It wasn't a bait and switch.

JustinCompton79

The health points that slowly diminish and need restored to full before selling shoes is the nail in the coffin for me. I was okay with fixing the durability of the shoes every so often, but I only earn about 7 GST per energy spent and the mystery boxes are sh*t.

TwoStepLaunch

GST is printed at an unsustainable rate. 200 million in 2.5 months.

Pandelein

45% income, plus 12% GST on everything is too damn high- **but** we’re somehow still one of the less-taxed OECD nations, so I guess I’ll just put my pitchfork away for now.

NearSightedGiraffe

That would be more akin to a consumption tax, such as a VAT, GST, sales tax etc. The problem with this tax is that people who spend more of their income, such as low income earners, end up paying most of it

Ill-Sherbert1095

Bitcoin with the Lightning network will be the world currency: neutral, no state, no bank behind it; 1 million GST; instantaneous ; 0 fees😎

Effective-Tour-656

GMT and GST around Feb, March I think I started playing THAT game. Cashed out up top and was making over 1k a day in the peak for an hours work.

arcrenciel

I elaborated further on this in another post. Anyway, copy-posting it here. Sorry if parts of it seems out of context. >Paying businesses is more of a hidden cost. I run an online business, and we accept payment by card. The card company charges me 2.67% + $0.16 for every domestic transaction, and 3.4% + $0.56 for every international transaction. And i only get these rates, because i move several millions a year. When i first started out, and had zero negotiating power, they charged me 3.4% + $0.50 for everything. And then there's the fraudulent chargebacks filed by crooks who don't like actually having to pay for goods and services rendered. Banks will side with them everytime no matter how solid the merchant's evidence is. Anyway, i digress. All these fees and costs that the traditional payments system charges me.... where do you think it goes? That's right, it goes right into the retail price of my goods, and then that price mark up gets charged the transaction fee too, so i have to ply that back in as well. And i (technically) pay VAT/GST charges on that transaction fee, so that goes into the retail price too. All in, my prices are about 5% higher, because of my costs incurred by the traditional payments system. I would so love to accept stablecoins as payment, if it wasn't for the fact that setting up the infrastructure would cost me a pretty penny, and the expected take up rate by customers at this point, is too low. Not many people are accustomed to paying with crypto at the moment. Another issue is that the bulk of my company's revenue is via recurring subscriptions (it's a small telecommunications company). That means, payment is usually done by a computer automatically deducting the charges from my customer's credit/debit card every month. I can't do that with crypto, as crypto payments are always customer-initiated. And based on experience, if you leave it to customers to initiate the payment, they will procrastinate. For months. Until you spend money sending them threatening letters. Then they make one lump sum payment to catch up on all their defaulted bills, and the cycle repeats.

arcrenciel

You can always send a fiat money equivalent, like USDC, if you don't want volatility. The end goal is to eventually never have to bother withdrawing to fiat, because it's accepted everywhere. Anyway, for now, you can spend or even withdraw the crypto as fiat instantly, for no fees, using a crypto prepaid card. The only problem is.... do you trust the operator to stay solvent? Anyway, use case of crypto is generally for two things: 1. Sending money overseas 2. Paying businesses Sending money overseas is self-explanatory. Financial institutions usually charge you approximately 3% as "swap fees" to change the currency. Then there's the admin fee. Paying businesses is more of a hidden cost. I run an online business, and we accept payment by card. The card company charges me 2.67% + $0.16 for every domestic transaction, and 3.4% + $0.56 for every international transaction. And i only get these rates, because i move several millions a year. When i first started out, and had zero negotiating power, they charged me 3.4% + $0.50 for everything. And then there's the fraudulent chargebacks filed by crooks who don't like actually having to pay for goods and services rendered. Anyway, i digress. All these fees and costs that the traditional payments system charges me.... where do you think it goes? That's right, it goes right into the retail price of my goods, and then that price mark up gets charged the transaction fee too, so i have to ply that back in as well. And i (technically) pay VAT/GST charges on that transaction fee, so that goes into the retail price too. All in, my prices are about 5% higher, because of my costs incurred by the traditional payments system. I would so love to accept stablecoins as payment, if it wasn't for the fact that setting up the infrastructure would cost me a pretty penny, and the expected take up rate by customers at this point, is too low. Not many people are accustomed to paying with crypto at the moment.

ersleid

I would've shorted GST by now if only Kucoin allowed it 😩

JustinCompton79

GST pumping, Stepn’ers selling off!

vkg25

Are others also seeing lesser GST earning in StepN lately. I used to get 10-11 GST for 2.0 energy worth of walking. It has reduced to 6 GST today

coinfeeds-bot

tldr; Stephanie Varnet wrote about STEPN’s “July Scam” on Twitter. The scam involved the theft of $92,000 USDC and $100,000 $GST from the STEPN Team. The team used a fake contract of GST and USDC Pool to sell USDC at a high price of $7 per 1 GST. Users were then forced to withdraw USDC from their own contracts. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*