^^^ THIS

Sasha Ivanov is guilty of securities fraud, he stole money from his original Coinomat investors and if he doesn't rectify the situation soon he will probably end up behind bars, simple as that.

This is good advice I think, the WAVES swap trade happened just physical delivery of the crypto didn't, thanks, it makes perfect sense doesn't it

The terms of the 2016 Coinomat::WAVES asset swap were very public, and have all the requirements for a legally binding contract - parties, consent, object consideration - in my own case I purchased directly from Mr Ivanov OTC via forum messages on nxtforum.org. All the evidence suggests there was a new implied contract for a debt once the WAVES DEX went live and the swap date was past due.

If you agree to swap for WCT now there is no actual theft of your WAVES debt anymore (just a shit load of lost value), coz you agreed to the new terms and settled, so there's no debt @ 2017 bull prices you can write-off now, nothing to report to the police except your bad trades with Mr Ivanov that you consented to.

If your crypto activities have been declared for taxation (as mine have been since 2013) then Ivanov has broken a legally enforceable contract with you, and you have legal ways to claw back some wealth, so DO NOT swap for 0.03 cents now.

If your crypto activities are off the grid then your only option is to seek compensation off the grid.

Mr Ivanov will be prosecuted by the SEC and other regulators around the world for securities fraud, some ICO's might get through, but probably not WAVES, and definitely not Coinomat assets which included dividend-paying securities which unambiguously are NOT cryptocurrencies, they are securities like shares. The INDEX security was tracking the price of the top20 cryptos supposedly ... you can't issue something like that to American citizens without a proper license, and raising +20M USD in a high profile ICO during the peak of the ICO wild west scam-era will have put Sasha Ivanov in the sights of global regulators looking to send a message by prosecuting some of the worst offenders from 2016-17, especially public people from geopolitically juicy targets like Russia.

If you doubt this look into the history of Liberty Reserve, the same thing will happen to Mr Ivanov
https://en.wikipedia.org/wiki/Liberty_Reserve


The most likely scenario is Sasha Ivanov will be prosecuted by the SEC later this year for illegal securities fraud and be sent to prison, Coinomat will feature in the prosecution as everything is documented and police reports will now be mounting up. The crackdown is coming and Sasha Ivanov is an easy target.

If you swap your Coinomat assets now for WCT you will get nothing back, however, so assuming you are declaring your crypto activities the best course of action is to convert your Coinomat assets into collateral held by you for a debt of WAVES owed to you by Mr Ivanov, and write it off against other crypto gains now that full details of the theft are known.

If you keep WAVES on an exchange what you really own is WAVES IOU's from that particular exchange - not your keys, not your crypto - and with the long-delayed coinomat swap we are entitled to use all the stated terms for the swap to convert the coinomat assets into WAVES IOU's with Sasha Ivanov as the counterparty. That is the law!

You could even sell other WAVES IOU's held on an exchange, keep the funds, and for Tax purposes your WAVES balance would stay the same, you just sell WAVES to decrease your exchange IOU's by the amount of the Ivanov IOU's you gained during the 'OTC swap' you did with Ivanov at the peak in 2017 and your WAVES balance is unaffected. Mr Ivanov is NOT going to protest is he, he's not negotiating at all, and even if you get audited later you can easily show the calculations and evidence for where the Ivanov WAVES IOU's came from, and when and how they were stolen

All crypto is just ledger entries for taxation purposes anyway, and IOU's for crypto tokens stored on exchange custodial wallets are treated the same as coins you own the private keys for in a wallet on your PC, until you dispose of them, or they get stolen like Mr Ivanov has done - he admitted he stole your WAVES with this recent email (he is offering to swap to WCT, not WAVES at all), and you can value them at the peak if you want, when the 2nd Coinomat swap should have happened. Remember, the debts Ivanov owes you were denominated in WAVES with set values, not worthless WCT, which you were entitled to anyway from the airdrop. The goal is to maximise the fiat value of the theft that you can write off, the value of what you lost at the peak of the 2017 bubble.

But, if you swap now you wont have the Coinomat collateral for the debt Ivanov owes you, and you effectively forgo the chance to value your Ivanov WAVES IOU's at the 2017 peak, and your write-off is peanuts. What you'll get is a trade from coinomat assets valued in 2016 at a few cents, into WCT valued at 0.03 cents today, you miss the 2017 boom completely, like you hodl'd the worst shitcoin from bottom to top, and back to bottom, and you never took any profit. Bad trade!

My advice above is obviously not relevant if you're not declaring your crypto activities, for those poor people I don't have any useful advice.

Coinomat asset swap victims

I feel your pain!

It's time to accept the truth,

Coinomat asset holders who did not swap in 2016 have been scammed, Sasha Ivanov is NEVER going to pay you anything close to what he owes you for using your wealth since 2014. This is a reality!

@Waves.support will continue to ignore this issue (HIS BOSS IS A SCAMMER), but who can blame him, he's just a forum mod worker, not the person who stole your funds in 2014 and used them to make millions.

I have spoken to my accountant and this is the best course of action IMO

Do not swap your old coinomat assets for WCT

If you swap now you will get no value from your original NXT coins from 2014-16, you effectively miss out on the crypto boom from 2017, your NXT was worth peanuts in 2014-16, and the swap rate of WCT is peanuts now. Ivanov used your money to bootstrap his WAVES ICO which made millions, BUT, you get nothing!

I think Sasha Ivanov will never personally speak of Coinomat asset swap ever again, he is going to try and tough this out, ignore the whole drama, and hope it goes away. He isn't even bothering to swap all the old coinomat assets.

You can use this to your advantage though.

What you should do is convert the value of what your old coinomat assets would have been worth at the peak of the 2017 boom in December, assuming you had swapped them to WAVES, and convert that value into a personal debt in your local fiat, a debt owed by Sasha Ivanov to you personally for keeping your money past the promised swap date.

ALL his public statements since 2016 clearly explain the terms of the Coinomat::WAVES swap, and you are legally allowed to value Ivanov's obligation to you using WAVES value from December 2017 if you want, he promised the swap as early as April 2016 so the obligation to pay WAVES, (i.e. the debt) is beyond doubt, and you are legally entitled to value the debt and write it off "when you realised it wasn't going to be paid". This is the Tax law for most countries, it is for me anyway.

The original promise to swap is very clear, when WAVES DEX started, and as this was never done, the swap became a debt that you can write off when you first realised it was not possible to recover.

What you want to do is maximise the cost basis of the 'thing' you are going to write off, so DO NOT swap now!

I am picking December 2017 as the date to value Sasha Ivanov's debt to me, and he made it clear he refused to repay his debt with the recent email!

The debt was in WAVES, not WCT!

This will not let me ever get my money back, but it does mean I can file a police report for an unpaid debt valued at the peak of the last bull market, and then I can claim that as a capital loss for tax purposes to offset against other income.

It's better than nothing, 100% legal, you just need to file a police report.

BLUR secured by dPoW (Bitcoin) is superior to XMR, time to accumulate while marketcap is ridiculously low!

Why not run this year?

I agree notaries will be run as companies when the profits get massive in 2-3 years

I don't see many new candidates so far, bear market NN rewards aren't that great now. You should just run your own node trump, not much competition so candidates don't need you

Ouch, you lost the chance for +2M USD at the peak of the bubble ... "father & son pissed for losing a fortune in crypto bubble" ... all publicity is good for NEM

Vitalik and Ver both say if CSW is Satoshi it would not increase their opinion of him, just lower their opinion of satoshi ... the point is it doesn't make any difference to Bitcoin tech, only weak minds care about who does things, strong minds focus on the 'things' themselves.

If a pedo released a cold fusion whitepaper with working prototype only weak minded fools would focus on the character and backstory of the one who released it, who cares about CSW the man, if he tries to destroy privacy coins like XMR, good, if he can monero wasn't good tech.

What happens with Coinomat asset swap to WAVES, are these 'legal hurdles' ever going to be solved?

Trading is swimming with sharks, you'll get eaten bro, a better strategy is passive income from things like masternodes and income earning assets from exchanges, then you earn a regular income and can keep your shirt, and sleep at night.

Trading is zero sum game, you're either the hunter or the hunted, and if you're asking on this forum how to do trade and research I'd say you're the latter. Learn about staking coins instead.

I agree, never sell for less than you bought, if you do it means either the project was crap and you should have known better, or you invested money you couldn't afford. I'm holding coins that have dropped 60-90% but most are actually doing really well on tech development, marketing, adoption etc, so holding now isn't keeping me awake at night. Good projects will survive this market!

every human uses age and longevity to judge an unknown thing, so if you need a brain surgeon asap to remove a tumor we all instinctively prefer an older surgeon with years of experience over a younger surgeon who might have learned new techniques and has a steady hand.

In crypto there are some gems that date back to 2013 that are still cheap as chips, like CBX Bullion, which just recently passed 5 years, which is 50% the age of bitcoin itself. When all the institutional money gets here they'll naturally use age as a way to judge what has value, as should we all. CBX will add masternodes soon, and MK is well under 2M USD, so it's going to be profitable!

divide your starting money into 10, invest in 10 decent coins, if one starts mooning sell a % and use profits to buy small stake in a few more.

Once you reach about 25 coins you should only add news by removing the bottom performers, normal people can't follow more than 25 coins at a time, and if you can't follow a project yourself and rely on hype you're managing your money badly

ICO era is over IMO, some guys will start getting hassled by SEC soon, and then only very legit projects with corporate backing will have the cajones to run ICO, and those guys don't like sharing so it'll just go back to venture capital money. Going to jail isn't fun!

When I first started I ignored bounties and giveaways, then I saw some literally moon into the millions like NEM, so now I take them seriously, probably spend about 1 hour a day on them.

When will a decision be made about the silver coins? It's been literally years since that was decided but no action.

Still a long way to go for usability but the tech fundamentals for small private shareholder trading apps of the future are close with zk snark assets.