Quote from: boomboom on June 04, 2019, 01:41:34 PM

Quote from: Adam D Levine on June 01, 2019, 04:59:52 AM

Quote from: boomboom on May 30, 2019, 01:35:10 PM

I am so disappointed, after all this time coinomat asset holders are offered less than 3 cents per asset, this does not make sense,

- not all assets are being swapped
- all assets are swapped for WCT when it should be WAVES token AND compensation for lost WCT airdrop
- original coinomat assets had different relative values and NXTswap rates in 2016, in 2019 they all have the same WCT rate, why?
- the swap value of 3 cents is ridiculously low

This is totally unacceptable, I do not accept this offer, what about INDEX and Cryptocard assets, what happens with those assets?

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.

I checked with an accountant today and he has a slightly different opinion than @Adam Levine, he agreed Sasha's victims should not swap their NXT coinomat era assets for WCT now, because "they're already sold", his opinion is the swap details were explicit enough to record the "trade" around the time the swap was promised, so he said there's no need to worry about keeping coinomat assets as 'collateral' for a debt, the trade happened BUT delivery was delayed/deferred.

His opinion is coinomat victims owned "rights" to WAVES with Sasha as the custodian exactly the same as owning WAVES held by a custodial wallet, so ownership is separate from possession.

This is good, my accountant agrees with AL that as long as we use a consistent inventory tracking method for taxation of FIFO, we can legally account for the stolen waves using FIFO, which in effect means the "disposal" event for the stolen WAVES can actually be used to reduce WAVES that you owned from as far back as the ICO.

Summary: we owned the swap waves all along, Sasha's email the other day triggers a disposal of WAVES (he stole some of your WAVES ), but we're allowed to use an inventory control method of FIFO that means Sasha theft of WAVES can be accounted for using another parcel of WAVES, they're all fungible after all.

You can indeed sell some WAVES now, keep the funds, and record the stolen waves as being from a parcel purchased before the swap (where we record the trade and change of ownership, with no physical delivery), BUT, you can't swap now for WCT (Sasha owns the coinomat assets already, he just hasn't taken possession of them yet), and you have to report the theft of waves Sasha's email implied to POLICE. You can't sell the same assets twice!

Better than nothing!

https://onlinetaxman.com/fifo-vs-lifo-for-crypto-trades/

Coinomat assets have to be the most depressing story I have come across in crypto, far worse than Bitconnect or The DAO

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