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Crypto Tax in Korea, Cub Mining update and end of season is nigh

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@belemo
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South Korea is awesome for many reasons. First, they gave us Samsung, they gave us squid games and now they're making strides in crypto regulation.

I've never been a fan of politicians and I never fail to point it out. However, the potential of delaying taxation on crypto to 2023 is a pretty good move.

It's not just about potentially delaying taxation to January of 2023 that thrills me but it's the reason behind the postponement.

The story I gathered is that the Asian country is bedeviled by the complications that crypto presents. Interestingly though, instead of inserting some antagonizing type of tax on the assets, they picked a different approach.

Word on the crypto street is that the politicians, specifically, lawmakers of South Korea want to understand crypto a bit more. They want to have credible information before implementing fiscal policies that affect crypto.

I know this doesn't affect me directly, but as a Nigerian living in tyranny courtesy of uninformed boomers, I can't help but be pleased by the news.

Politicians are notorious for making anti-crypto policies because like South Korea has found out, it's not just a bunch of numbers on the screen.

Just like the financial policies that are used by various countries, crypto has its own peculiarities and the only way you can successfully implement a fair fiscal program for crypto is by owning it.

I don't know if this is a bullish sign for South Korea, especially with the declaration of them trying to understand it. I reckon the government will dip their toe in it and probably buy Bitcoin like El Salvador.

I mean, the best way to understand crypto is by getting in the thick of the action. I think that will be mildly bullish in the short term.

I'd also like to point out that I'm not under any illusion that the penny has dropped and the government of South Korea likes crypto. Honestly, I can't predict where this pendulum will swing.

They could just be bullshitting the public and will still implement a crappy tax on crypto. I honestly hope not.

In any case, I'm just happy to see the government publically declaring their intentions to understand crypto before making any decisions. This move could in turn lead to more citizens, especially those that "believe" the government, getting in on the crypto action.

Stacking Cub tokens

After some weeks away from mining Cub on Cubfinance, I'm pleased to say that I'm back on the horse. So far so good, I've already mined like 70 tokens in a couple of days.

I'm working towards increasing the number of LP tokens I'm staking though. My dilemma is figuring out if I should wait for Cub tokens to drop or just buy them now.

The plan I have is pretty simple, I intend to accumulate HBD post rewards and then pool them against Cub tokens that I mine. This will be an organic approach that I'll use to increase the total number of LP tokens at my disposal.

My target is to get as many as 2500 LP tokens in the Cub/BUSD pool. I'd also like to get it in before the Polycub transition.

Making every second count

We're almost at the end of the Splinterlands season and with that comes the rush for monsters to boost collection power for higher rewards. This is the time when the rental market thrives the most, so you might want to get in on the action.

Personally, I don't really bother with it because all the monsters I have now are being used for battle. I'm also concerned about dropping down the rankings.

At the time of writing, I still have like 7,300 worth of collection power that I could lease to the market but the problem is that I probably use the monsters for battle.

I've tried to flip some of the cards for cheaper cards but it wasn't successful, so now I'm stuck with them. Monsters like Qid Yuff, and Silvershield Assassin are among the two that I could sell to buy cheaper monsters but they're really expensive right now and there aren't too many takers available.

So since I can't sell them, or lease them out, I just put them into battles and squeeze out every single DEC I can get.

Anyway, still on the topic of squeezing out DEC and in a slightly contradictory mode, I've been feeling like leasing out my entire deck. I know I'll miss the battle rewards and stuff but assuming I pull manage to pull like $20-30 of DEC per day from leases, I could just reinvest that into monsters and potions.

At the time of writing, I don't actually earn up to $20 per day from battling and reward cards. I also spend a lot of time doing those daily quests.

Assuming I lease out $13,700 worth of cards for rent, the proceeds could then be used to buy the new CL reward cards at the rate that I usually would earn them from daily quest.

I'll miss playing the game and will also end my daily quest streak but on a positive note, I'll earn enough to buy the monsters I normally get in daily quests. I'm thinking of exploring this idea in the last 7 days of next season. If it works out, I'll have more time on my hands and will add another source of passive income.

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