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RE: AMFEIX - The First Blockchain Fund Built On Smart Contracts

in #amfeix5 years ago (edited)

Reading the comments, it seems people have been burned by other investment platforms, so they can't believe in genuine transparency by any... or that someone might make a living successfully trading other people's money for a % rather than just trading their own money. It's the old, "if they are so good at making money, why are they teaching it to others?" trope.

Yet there have been billion dollar investing funds all around the world for quite some time when it comes to stocks, bonds and commodities. I see no reason why there couldn't be for crypto too. Your fee is pretty steep at 20% when such actively traded funds typically only charge more like 3-10%, but it seems you're splitting that 20% 50-50 with referrers as your marketing model.

Well, I wish you the best. For an American investor this can be a very good option for growing one's BTC without generating taxable events. If an American was to actively trade the exact same trades you're making in the fund, they'd lose all profits to taxes on every single leg of the trade within a rising market. But if they invest, they only owe taxes on the profits they pull out. They aren't doing the trades, and I'm guessing you aren't Americans, so don't owe taxes on the trades you're doing. Very smart.

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@indigoocean: you have any reference on the statements you make in regards of taxes?

Take a look at the tax law for the US. Since 2008 the new tax law has said that Americans owe taxes on every trade, even if they are just selling BTC to buy an altcoin. Just do a search.

yes I get this.. but why should it be any different if it is in a fund?

Well you don't owe taxes on someone ELSE's trading. Think of investing money into a mutual fund with say Vanguard. Do you even know what trades they are making on your behalf? Of course you don't. You just pay taxes on the profits when they go into your account. Same thing.

Thank you :)