Bitlands @Bitlands_
A bit of magic and a bunch of lands. Peaceful, minimalist islands, floating in the tranquil sky. https://t.co/cwb9zbxrIy bitlands.art Cardano Blockchain Joined July 2021-
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@IOHK_Charles You could let AI filter out the shit in the ocean. Keep going Charles, changing the world is hard and a marathon. And unfortunately the haters are typically louder.
@melonaire Isn’t that some sort of bad UX? Something like attention or you loose ADA would help I guess
@IOHK_Charles @grok what’s the difference between Leios and Hydra?
Bitlands is now available at bitlands(.)org
Exploring new heights, even the pyramids are taking flight!
After the Chang hardfork the $handle ecosystem is going to explode with utility!🧨 SubHandles are just the beginning for what we have in store for Cardano!👀 $ADA 📧
Did you missed the clouds? No need anymore ☁️
I brought my favorite Bitland to the real world. Tell me if you want your own Bitlands on your wall 👇
@AltcoinDailyio but but but but... $SOL is faster 🤡
Hey, look, a centralized service took half the world down. Maybe we should start using decentralized services?
What are the next steps? 🌱 Interactive Bitlands viewer: The main idea of Bitlands was to create a peaceful and tranquil experience. It should be enjoyable to just look at your Bitland, which needs we need to add some living to it. 💵 Staking: This was a great success just not sustainable for the long run. We need to come up with a plan for how we can make it sustainable. (Balance between too many NFTs and fun). 🏝️ Bitland as a wallet viewer: I love the idea of having a Bitland reflect your wallet. This means you don't interact with your Bitland directly but when you interact with your wallet, the appearance of your Bitland changes.
Some recent updates on the development side and upcoming plans of Bitlands 🏝️ We've started to get the basics running again. This starts with the website. We've upgraded a lot of outdated tech and made a big cleanup. Now the (very) basic explorer is working again 📷 bitlands.art/b/1/2729 The next step is to integrate the game scene so that the Bitlands are getting interactive again. For more details, jump into Discord.
🏦🫰 I had to pay a jaw-dropping 15,000€ more in taxes than I've earned from my NFT project. Here are some things I wished to know before I've launched the project. Read till the end if you are interested in how I still saved 6-figures of tax payment. In 2021, I launched @Bitlands_ and made some significant tax errors that not only cost me a substantial amount of money but also valuable time. 💼 Disclaimer! This isn't financial advice, just my experience. Get a tax lawyer. I did my taxes in Germany, but tips may apply elsewhere. 3 Options 🚫 Option 1: Don't do taxes at all? Common in the crypto space, but risky. Every transaction can be tracked, and they are getting better! Not worth jail time but I guess 95% of all NFT projects are doing it like this. ✈️ Option 2: Move to a crypto-friendly country like Singapore? Sounds great, but not feasible for most and not the first thing you do before launching a new NFT collection. 💡 Option 3: Do taxes and learn from my mistakes. I launched Bitlands NFT in a booming market, didn't think about taxes initially. 1/ 📚 You'll need a crypto tax lawyer, which can be expensive, because not many are specialized in this field. 2/ 📋 Keep detailed records of all transactions. The tax department is allowed to request all transactions. You need to show from where do you got the money, and classify internal wallets. 3/ 👨💻 Consider using tracking tools like @accointing or @Coin_Tracking. They will help you a lot not loosing the overview. I used Excel templates which can be exported by some crypto wallets to easily import the transactions to the tools. 4/ 📝 Add notes to transactions. It'll save you time later. Wallets like @eternlwallet will help you with that. 5/ 💱 When NFTs are sold, taxes are incurred at the time of purchase. To make yourself independent from volatility of the crypto market, exchange a share of your crypto to your local currency on the mint day to cover taxes. (I didn't do that, which is the reason for having more taxes than profit). 6/ 🧾 Demand invoices or contracts for payments. If you want to take losses into account, you need to provide evidence. 7/ 💳 Create a wallet structure for easier tracking: Split into royalties, NFT sales, and business activity. Transfer between wallets carefully. 8/ 🔢 Classify each wallet as business or private wallet, even as a sole entrepreneur. Transactions between them can impact taxes. 9/ 📉 Take losses into account. In Germany, trading after one year of holding can be tax-free. Losses can reduce your tax liability. 10/ 🥇 Pro-Tip: If your crypto is down, selling crypto and buying the same amount afterwards in an exchange counts as a loss for the tax, which reduces your taxed income. For example, "Wallet > Exchange Crypto > Exchange Fiat > Exchange Crypto > Wallet" counts as a taxable event which can reduce taxes. The event will only apply in the one-year period since the last event and may only be true in Germany. Luckily, I did this in the end of 2022 which saved me 6-figures in tax payment. 🚨 Remember, that are only my experiences, no financial advice. Consult a tax professional for your specific situation. #CryptoTaxTips
Really wondering how many crypto "startups" are paying taxes, care about the legalities of what they're doing and do proper accounting... The amount of work that has taken us to get it right is so much that I really can't see many others doing it correctly. #buildinpublic
Hi Bitlanders, we want to find out your priorities with a simple poll. What’s most important for you?
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