What is up, Niigata Steem-Os?
Last night 3 of our members--@boxcarblue, @maxinpower, and myself--met up to discuss recent business, various ideas/initiatives, and moving forward with this account, @steemcityniigata. It was great to catch up, talk crypto, and enjoy a few drinks surrounded by the picturesque snow-covered streets of Niigata's Keyaki-Dori area.
For the sake of those members not able to be present, I wanted to review a few of the topics discussed, request feedback, and get a general feel for what members of the group are thinking. Finally, I will attach this week's liquid payout summary to the end of this post.
Meeting topics:
- Filing crypto taxes in Japan
- Recent black and white photo challenge participation and possible new contests we could hold ourselves or join.
- Potential Steemit initiatives for helping a local Niigatan friend who was recently robbed.
- New members / potential recruits.
- Proposed adjustments to the SP surplus payout system.
- Local barter/trade markets.
Feedback request: Is it okay with everyone if we adjust the SP (previously monthly) surplus payout to follow the Steemit built-in 13-week power down cycle?
Following this cycle will make computation and distribution of the surplus Steem Power this account accrues much easier and more efficient. The reason being, power downs take time, and if we wish to power down the exact amount of the surplus (and not the whole of the account's SP to expedite the process, which would result in an inexact amount being powered down, and the necessity of returning excess to the SP reserve manually--read: greater potential for human error to be a factor) the time required is 13 weeks, and not 4 weeks (one month).
What we need to decide if we go this route, is when to allow a new member to begin partaking of the surplus. In other words, what is the cutoff point? For example, if a new user joins 4 weeks into the 13-week cycle, do they still get to partake of that cycle's SP surplus distribution according to their stake like all the other members? Let's discuss where the cutoff should be in the comments or via our private chat group.
Any other questions, comments, concerns, etc, about any of the other aforementioned meeting topics is of course welcome and encouraged!
This week's payout!
Hey, I am also currently living in Japan, but in Tsukuba. I myself know no one who has infos about how to fill crypto related taxes in Japan, as I asssume I have to pay here in Japan as long as I stay. Do you guys plan to make an Steemit post about this topic? :) Would really appreciate this as it would help some other people out there, like me!
Hey there, @cantdecide. Tsukuba! Cool! Close to the space center?
Yeah, we are trying to navigate all this as well. The current laws are vague, and even certified accountants seem unsure of how the whole process is meant to work (I personally am not sure it is meant to work at all, as much as to confuse people and take their money, but that is a topic for a different thread, I suppose). As soon as I get some info that might be able to help you, I will definitely make a post about it. Please let us know if you get any leads/achieve some new clarity regarding the matter as well.
よろしくお願いします！
~ @kafkanarchy84
Thanks, I would really appreciate this.
I am sometimes trying to find infos about this, because I am original form Germany but currently living and studying here in Japan. Another question I ask myself is, if we have to show our orderbooks or something like that.
Anyways, some days ago I found this site and maybe it is somehow helpful for you:
https://www.tytoncapital.com/investment-advice-japan/japan-and-tax-on-cryptocurrency-bitcoin/
Thank you. This is an excellent resource.
You're welcome! For the case I find more interesting infos I will try to share them with you :)
As I said last night, I'm completely alright to wait for the whole 13 weeks period. Concerning how to include new members I recommend to talk about it again when we meet next time
Hello from Tokyo! Are you guys connected with @steemit-jp project yet?
Hey, @maneki-neko! No, I'm not sure we are. Am aware of @steemit-jp, but not sure they are aware of us.
Well, they are my buddies and really nice folks, so I hope you can get together. Let's get Japan on Steem!
Actually, we talked about this a little last night. @rt395 has told me a little about this, but I still don’t know all the details and haven’t talked to steemitjp yet.
Hey @kafkanarchy84 & @boxcarblue we are still ironing out details and I have brought you both up with the group. Will LINE Box about everything. Basically just wanted to get things organized in Japan so we can start bringing on more users. The lack of Japanese support and Steemit UI is a big hurdle.
Oops, this is @rt395. Didn't realize I was on the BC account.
Yeah, what are the rules for filing? Do you have to file when you sell crypto or when you receive it? For steem, does that mean filing individual payouts?
Steem is a mystery on top of a mystery. I’m under the impression that anytime a coin is traded, whether to fiat or another crypto currency the gain or loss should be reported. I could be wrong though. I think different rules also apply according to where you live and how long you’ve held the coins.
Hi. This community is exclusively for Japan right?