Farcaster

ok farcaster, here's an idea

i assume you want to keep your chances for future airdrops high

so you shouldn't sell the token you got in previous airdrops

effectively, due to tax reasons, the value you're getting is negative 

so:

what if i did an airdrop—and hear me out—with NO TOKEN:
1) you don't have to pay any taxes
2) you get to try a cool mini app
3) everybody gets nothing equally

how does it sound?

I have not even thought of tax implications (not in US, and my country does not do C2C taxes, or tax airdrops).

But yeah, @ds8 raises a good point. 

So... Devs of upcoming projects with drops... Can we say up to 20-30% of previous drops can be sold, for tax purposes? That still makes an incentive for people to hold most of the tokens, but not hurting them financially or making them have trouble with the IRS?

fortune cookie casts, memes, parenting, building mini apps, /framedl, /framedl-pro & /calmer

Crypto enthusiast, ethics, movies and photography.

Founder of /gentlemanswagers

yep if you're in the u.s. and you hold the airdrop without selling any, it's just a gamble that the tokens are worth more in the future than they will be on day 1.

not to mention, most airdropped tokens peak in value on day 1 and then take a very long time to surpass that price, if they ever do

Just a dude who loves birds /songbirdz /birds /birdwatching

I'll normally do sell 50%, keep 50% if its a larger airdrop. I think only 1 I've ever received has gone up in value since airdrop day 🙃

Obviously for these small $5-10 farcaster ones, I'm okay just holding onto it for a bit

Yeah, if I was in the US, I'd immediately sell the tax part of any and all airdrops. Just makes it easier for following and reporting