STEEM is not a Cryptocurrency!!

We have 2 tokens on the STEEM Blockchain, STEEM Which is like a common stock or preferred stock. This token can either be traded without voting-rights, or it can be taken off the market and utilize its full VotingPower and ownership in the STEEM Blockchain as SteemPower!

In the offline business world - The main difference between the two types of stock is that holders of common stock typically have voting privileges, whereas holders of preferred stock may not.

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STEEM - The Stock!

STEEM is either one or the other, it is either STEEMPOWER (Technically called VESTS) with voting-rights or liquid STEEM without voting-rights.

SBD - The Cryptocurrency

Backed by nothing but nightmares, hopes, dreams & a lot of Bitcoin - SBD is the ultrafast single feature cryptocurrency that has the only feature of being a cryptocurrency - safer than Bitcoin and built for speed and to be spent publicly just like money.

The SUPPLY of SBD is very low, regulated by a de-escalating inflation model, there will never ever be truly a lot of them under the current economic concensus, and from the looks of it the supply will remain low and sustainable at least for my lifetime and beyond.

STEEM/SBD or SteemPower may have legal differences where you live!

If you are holding SteemPower, you are locked in the system - and to explain the difference so that lawyers and worse understands it - SteemPower is similar to owning the outcome of a Mining-Rig, like those Asics and GPUs people buy to mine Bitcoin & Ethereum & Dogecoin - SteemPower is virtually the same, with the same risks and ROI as everything else. If you do not use it, you do not gain much from it, but if you are smart and delegate your SteemPower where it is profitable, you can become very successful in managing your part of this encrypted cyber republic of STEEM (re-public).

Make sure you have registered a company for your business!

If you still sit in your mothers basement as a private citizen on paper rich as fuck at New Years EVE, that will most likely have PERSONAL concequenzes for you before easter. Yes, some governments work extremely hard to attack private citizens in their wallets, which is why you have to INCorporate. It is legally sound, and stupid not to. Companies have professional rights worldwide, and no country is the same - so before you run down to your LOCAL lawyer to establish a company where your mother lives, take a look at the worldmap, and use some time finding out which country is the most business-friendly and tax-friendly so you can continue building your crypto-empire, and from there you should establish a second entity which only purpose is to pay you a small salary, the pocket-change you need to eat and sleep. Pocket-change, because as a private citizen you get slaughtered in some countries if you make "too much" money personally.

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Smarter Cryptards do:

  • Establish the Holding Company / Mother/Father/Parent Company
  • Establish Son/Daughter/Children Companies owned by the Holding company
  • Each major investment should be a new company:

By that think of it like this - your house should not be owned by your personally - but by one of your companies which only purpose is to own that lot. If you buy an expensive super-car, helicopter, plane - those items should be placed inside their own company for ownership, and rent them out to the highest bidders, or to yourself if you want to play with the toys of your companies.

You may be CRYPTOSMART - But in this game you have to be BUSINESSMART as well!

There are clear rules of juristiction in this world, and therefore by incorporating in as much of it as possible enables you to move in and out of markets completely legal and unhindered for the most part.

It may at some point be smarter & cheaper for your company to hire a private UN-Approved army to protect you, then paying local or federation taxes to give you parking-tickets!

Because governments around the world have drained the lifeblood out of the public sector (see broken roads, bridges, abandoned cities etc) they do not offer anyone any real protection. Calling the police is done after the fact, it is not like your local police is there to serve and protect you - they are there to serve and protect the treasury and make sure you pay into it. However, there is no rules in this world that say they are entitled to extort you with a government license paid for by your mothers last paycheck outside of their juristiction, and since we are talking about legally obtained unclassified assets here, assets which you must protect - at certain levels private security becomes much more then the gun at your desk. If you take this seriously today and you are new, in 3 years from now you may be "too rich", so hopefully this article found you in good time to plan ahead.

It should Always be Business! Me capiche?


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First we build, then we keep building, and that is our life!

Join me and thousands of others at http://STEEMspeak.com Discord - we have a 24/7/365 active (always people and music) in there - plus mighty bots that can upvote your friends posts and investigate abnormalities and STEEM development as a (very large) group of investors.

Thank you for reading & supporting my witness by voting for @fyrst-witness on the witness-page on steemit.com (see the menu)

Fyrst.

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@fyrstikken This content is more informative and educative about crypto-currency.I hope that you will make this types of important post all the time and now i am learning more valuable things from your post .Thanks for sharing this significance post .I am waiting for your next content .thanks for Great tips as always.
upvoted

Wow!! That's pretty sad. How do people do that and why? Ugh

Why is this sad?

People making tons of accounts or ID's to take advantage of the platform.

Wheeewwww!! Let's add this to the list of things I didn't know. I really thought that SBD was backed by something, since it says "Steem Backed Dollars" or something like that.

I'll have to reread the bits about registering companies and businesses because it's complicated stuff. But now I see that this can be a complex task once one gets to a certain level of income. Thanks for the many clarifications. It's certainly worthwhile!

Actually you can find yourself there with relatively small investments. Buy or get rewarded with Steem Dollars at current prices and when it hits $50 this year most of us will have a tax liability of immense proportions

:O Is that so? Where are you from? What is the minimum limit for paying taxes?

I concur with you I have a feeling that I get my pay as stocks + money. I have faith in purchasing and holding STEEM for long haul venture as I see it like I would live out of profits of this 'stock'. I can change money 'SBD' to play around in the business sectors and purchase some different kinds of money. Over the long haul holding stocks is the thing that will pay off your retirement.

Fortunately, we are early and we can still earn SP much more easily than later. I hope everything keeps a steady upward rhythm and we'll be dancing in crypto money later.

Hlw author this guy owner multi ID and always comment by multi ID.This person always try to chest and get your reward.

where are your problem,
you are a spammer

absolutely i support you and same i like your thoughtful post .but i think,,,,,,,,
The cryptocurrency markets are a blazing, often confusing ecosystem, in which you find thousands of chances to win a lot of money – and to lose it. Every day gives birth to new coins and death to some old coins. Every day sees some coins heavily falling, and some vertically raising.
thanks for sharing.

followed + upvoted + resteemed your post.

This is one of the most intriguing posts I have read here on Steemit in a long time!

I have been aware of you since a long time yet I am now sure that it is time I talk to you.

Not sure when it will be as honestly I don't want to allocate the time to figuring out how to use discord and find you, yet I will sometime soon just to find you.

See you soon~~*

So interessing steem & steemit will be huge its more then crypto and bllockchain it's a way of life

Well, for me who is just starting, it's not yet a way of life, but after a few months I hope that it will.

For me Yeah and it will change the world:)

I hadn't considered the need to incorporate in order to take advantage of the laws that protect corporations. Damn, you hit me with this at the right time - before I get too rich. Time to start doing some research. Glad the weekend is nearly here so I have time to dig deep.

I've spoken with you a few times in the discord, but I'll cop to not reading enough of anybody much, any more than the rest of us do, right? But this caught my eye, and was worth the time. I concur with ya man. Good shoutin' out.

Thanks for this very informative post fyrstikken. Always good to get clarification between STEEM and SBD. I'm not as wary of the government, yet. This may change if (read when) I come in a position of financial wealth, and when that time comes, it always good to have tips like these in the back of my mind. Again, thanks, and I hope you have a great day fyrstikken!

Ever read a content such full of information? This is one. I honestly don't know where to start from complimenting your post. You make a whole lot of sense. Thanks

Early enough here to read and start implementing these ideas to my foundation. Now I've just got to dig in a bit deeper while I trudge along building the rest of my life. You always put out great stuff brother and for that I thank you. You're one of my top go to's here on the platform. This one has been saved for usage...............

I am give PEOPLE out there a little ADVICE......

Make sure you find the right lawyer to set up your business entity. There are A LOT of SHADY, spineless lawyers out there who will take advantage of you. A good lawyer should also properly educate you the pros and cons to different entities.

The best place to start is your SMALL BUSINESS ADMINISTRATION, who will give you the best advice on entities and find a good lawyer for you. PLUS......it is FREE!

an interesting topic for players crypto.
I agree with you @fyrstikken steem and sbd has different roles, in my opinion to the same favorable, probably second to none on the other hand for the moment the sbd is superior.
thanks

Some governments in the world do what can almost be described as defrauding the enterpreneurs making establishment of businesses rather discouraging. Any potential successful buinessman must look beyond the horizon and find fertile grounds. This post has a piece of information all potential entrepreneurs can benefit from. Welldone @fyrstikken

I agree with you I feel like I get my salary as stocks + cash. I believe in buying and holding STEEM for long term investment as I see it like I would live out of dividends of this 'stock'. I can change cash 'SBD' to play around in the markets and buy some other types of cash. IN the long run holding stocks is what will pay off your retirement.

How could holding lots of Steem help you in a retirement? (Legit question, I'm curious)

Well, if you hold enough STEEM you will be rewarded with lots of curation specially invested in Steem power. If you want you can delegate on someone else and your SP will keep growing, there is also some interest you can earn (not sure of the exact amount) but you can also fill lease requests or sell votes in minnowbooster.

Very informative, it's one of my best read of the day. You sure do know how to write. The blockchain technology has created a decentralized economy and tokens like Steem and SBD and platforms like Steemit, Busy, DTube, eSteem, Dlive and so much more... ...the possibilities are endless, and a great post like this would always be here on the blockchain to educate because there's always someone new in the Cryptoshpere.

Well, there is no "currency" in cryptocurrency at all. All Cryptos are just stocks.
Yes, there may be a handful of shops, where you can buy things with this stocks, but nearly no one does. Why would you want to buy things with stocks anyway?
I think, we have to forget the whole idea of currency and treat (and love) cryptos for what they are: the possibility for everyone to invest and participate in blockchain technology and the new web 3.0!

Agree. SBD is cryptocurrency and most of things on Steemit are paid with SBD.

I can only agree with your analysis. Yes Steemit is content mining and also a investment vehicle when you consider selling some of your SBD/Steem rewards. On the other hand I don't know if it is wise to incorporate every aspect of your blogging account/mining account. It probably would be to obvious if you create a family holding company that owns your Steemit Account and than you save a lot of taxes. Most Tax institution would probably consider that as hidding from taxes...but anyways very good thoughts on this subject!!! Up&Re

What's a wonderful article about Steem and the details of steemit thank you very much I wasn't know such informations they were really valuable

images_024.pngExtremely useful,

any idea what offshore countries are easy to get an llc in for US Citizens to participate in ICOs?
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I'm wondering is SBDS are income tax and STEEM Power is capital gains.

I think I'll put it like that to the taxman when we meet!

Try to avoid that or at least delay it for as much as possible ;)

Very informative! Thank you!

Yea its interesting steem is will be huge and it's more then bllockchain and crypto it is a way of success life. @fyrstikken

Wow, really, steem is an investment, not only speculative asset, like most crypto.

When I say investment, I tell that you can make money while HODL.
It's really seldom in world of cryptocurrency.
Bitcoin - you can't make money while HODL - you should sell some to make profit. Steem is not like that.

Here we get "dividends" through participation.

yeah steem is not Cryptocurrency
The inventor of the most famous cryptocurrency today – Bitcoin – attempted to build a “peer-to-peer electronic cash system”. This had been tried many times before but the main point of difference between Bitcoin and previous efforts like Digicash was that it was to be entirely decentralised. Without an overarching entity controlling the currency, the notion of “trust” would be removed from the system. it awesome post. your concept is very clear.

The viking drops more gems! Great analogies, should make it easy for folks to comprehend

smart viewpoint!

steem/sbd is very believable cryptocurrency.if you saty with you you must be benefited. steem is one of the biggest opportunities since the invention of the internet itseif....great times to be around.

If I understand you correctly only is a cryptocurrency, but what has me confused is why you would need a separate entity for each cryptocurrency. Does anybody living in America know what the tax rate is for the different types of corporations? Is this a pass through?

wow very nice..

Hi my friend Fyrstikken, i'm glad to see your post, a very beautiful post as always :)
thanks for sharing

Jika ada waktu kunjungi blog saya

wow that's great content about the cryptocurrency and hope u will post more contents which will definitely help us.
keep ur efforts like this u are always good keep sharing like this buddy

Great postand good writing.i like your post and upvoted.

good post hear my dear @fyrstikken

Excellent post, alot of people do not realize that trading SBD is actually quite profitable as well, its turning out to be quite a nice ecosystem that is going quite well

Thank you for the detailed explanation on the different factors/assets in play here. I was looking for clarification on a number of these, and the “de-escalating inflation model” for SBD is both very intriguing and encouraging for the long term prospects of the value of SBD. Appreciate you sharing the knowledge!

I think this could be an amazingly useful post for many people to read.

Do you know how the sbd works? I've heard due to a high inflation rate it could go to $1.

Thank you for this post. Im definitely going to keep it handy to refer back on it @fyrstikken

Thanks for this information. I shall see how it applies in Canada

Yes, you are right. I need more Steem-Stock 🙋🙋🙋🙋

when i started i knew nothing have seen all the up's and down's can say that even if one got nothing they can up the game here with just work :) steem is revolutionary

how to get the stock ...
please clue @fyrstikken

Well yeah in business lies risks but as we all are willing to take it in with Steem!which is for sure quite a safe passage for now as it seems !
Nice way to explain it buddy it was easy to understand !

Thank you very much from the bottom of my heart.

That was a very interesting and enlightening read. Especially to a realative newbie here on the Steem blockchain in particular and the crypto world in general. Very interesting advice and explanations. My holdings are still way to small to be making companies, but we'll see how it goes in the future ;)

Interesting article! I've followed and up-voted your post i look forward to your future content!

For info and technical and fundamental analysis of Crypto's, an insight into how the whales manipulate the market and how to get involved in an exciting 12 month millionaire challenge we've recently started, check out @cryptobroye :)

It's business, baby! It's nothing personal!

Thank you. Always useful and valuable. And certainly gives a good long time view of what’s ahead of us as steem propels ahead

SBD supply is so low that we have the SBD price almost always above STEEM price, and we are seeing some people complaining about the SBD price not being at 1$ like it was supposed to be at the start of the platform...

Before incorporating in the US I would run the numbers for tax savings. Under the new law its 21% for a S Corp's first tax and taxed again when gains are distributed.For unmarried individuals or LLC's the max tax rate is 37% (for those who make over 500k per yr).

If you create an LLC, you are taxed exactly as if you were an individual but the assets have more protection. If you create an S Corp you are subject to double taxation but can elect to not have dividends distributed for the year (i.e. buy and hold) by reinvesting all profits. Interesting idea!

https://www.greenbushfinancial.com/pass-income-will-taxes-2018-small-business-owners/

https://taxfoundation.org/2018-tax-brackets/

https://smallbiztrends.com/2017/02/double-taxation-s-corporation.html

Nice one dear, keep it on. Please i also need your upvote on this post https://steemit.com/relationship/@promise75/female-behaviours-men-can-t-resist
Please, thanks and God bless you.

Help me friend I'm sending 1 SBD in your wallet and my wallet only 0.072SBD left in............
My proposal only receive your support. I hope you will be help me.And its I'm earn one month.

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I was wondering how the whales are structuring their Steemit business. You’re right- this venture must be thought-out; otherwise many of us could be facing tax penalties by the next tax season. Thanks for sharing, and I hope you will continue to post more on the personal business side of Steemit.

Found you out only this morning and this is only the second post I'm reading but I really like your vision.
Actually, for the past weeks I've been thinking what would my government do if I became Steemit rich and started to spend more than my official income.
Thanks for this thoughtful post! Have a great day!

Thank you for the advice... we indeed have an LLC... I wonder if that is enough. (Or will be).
@jeejee

Solid informative content. Thought provoking and action oriented. Overall, great post! Thanks for posting fyrstikken.

@frystikken, Thanks for sharing, value of steam on steemit itself,@indian-mom.

shrug Registered 501(c)3. Non-profit charity.

3.Thanks for your valuable and informative post.
We can gather a lot of information by your post.
By dint of we can increase our skill that is beneficial for all steemians.
I will always visit your site & wait for your upcoming post.
Thanks .
@Resteem done.

Interesting post, but your title is deceptive. Steem IS a cryptocurrency, it is stored and exchanged as one... so it is.

This post very good and great
I like this post, I hope my post same like this post

Please vote my post @muhammadakhyar

@fyrstikken thank you for your work and for @booster!

I have created the Steemitnopoly - monopoly for steemit, and you are one of the protagonists of this game! I hope you check it out.