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DomusCoins – Stabilizing the market by combining real estate and blockchain

Prerana Sarkar

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Domuscoins - Stabilizing the market by combining real estate and blockchain
Source: DomusCoins

DomusCoins is a platform that revolutionizes the real estate industry with Blockchain Technology. It aims at building bridges between the industry and the technology while making it efficient with the help of cryptocurrencies by providing transparency, security, reliability, and diffusion in the market.

DomusCoins is backed by Ethereum ERC20. The coin is valued at $1 USD at the ICO, the minimum purchase is set at $250 through bank transfers and $5 [5 DOCs] through cryptocurrencies.

The value of the coin is based on the real estate assets purchased by the company. In order to offer mix and reliable real estate market, many promising locations with high growth potential such as Dubai, London, New York, Zurich and Ho Chin have already been selected. This opens a door for a more reliable and stable growth of the coin and in return decreases the chance of surges of the coins making the holders the most benefited.

DOCs allows users the benefit of owning a property without a need for lawyers or authorities to be registered. Investors will earn their returns in DOCs when the properties are rented out and will be given a portion of the profit when a property is sold.

Key Features of DomusCoin:

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  • Effective Service – Investors will be charged with little or no money as it is based on the most efficient blockchain network that provides speed and minimizes time wastage.
  • Immediate Payment – Transfers are regulated and executed automatically by the smart contracts.
  • Peer to Peer Payment Service – This allows users to make a direct transfer without the intervention of a middleman.
  • Web wallet Services – This unique feature allows users to engage in transactions which are both commercial and non-commercial in a fast and efficient manner.

The company plans to perform additional token sales in the future once the market conditions are in favor of the same. This allows the company to earn additional funds required for future implementation and increases the assets and the market capitalization of cryptocurrencies. The initial funds will be used to reach out builders and purchase properties in high touristic spots such as Dubai or London. The company’s main focus will be on high spending customers and on offering all the top luxurious items in order promote the coin and the company.

To know more about DomusCoins, Click Here!



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Prerana Sarkar is a part of AMBCrypto's News Reporting Team from January 2018. She is a Journalism major from Mount Carmel with two years of writing experience in Bitcoin and Blockchain related articles. Prerana does not hold any value in cryptocurrency or its projects

Bitcoin

‘Bitcoin [BTC] to hit $250,000 in four years’ – Says early internet investor Tim Draper

Ketaki Dixit

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'Bitcoin to Hit $250,000 in Four Years' - says early internet investor Tim Draper
Source: Public Domain Pictures

Tim Draper, the Founder of leading venture capital firms Draper Associates and DFJ, predicted in a recent debate that Bitcoin [BTC] could be worth $250,000 within four years.

He had earlier stated:

“In five years you are going to try to go buy coffee with fiat currency and they are going to laugh at you because you’re not using crypto.”

Draper also believes that there will be a point when people will no longer want fiat currency.

At an Intelligence Squared U.S. debate presented in partnership with Manhattan Institute’s Adam Smith Society, the early investor in Tesla, Hotmail, and Skype said that Bitcoin will be bigger than all his early investments combined.

He said:

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“This is bigger than the internet. It’s bigger than the Iron Age, the Renaissance. It’s bigger than the Industrial Revolution. This affects the entire world and it’s going to be affected in a faster and more prevalent way than you ever imagined.”

In a U.S. Marshals Service auction in 2014, Draper bought nearly 30,000 Bitcoin tokens and is still holding them, according to CNBC.

Gillian Tett, the Managing Editor Financial Times was the opposition in the debate. He discussed the risks involved in Bitcoin investment and how volatile it is. However, Draper responded saying that he was more secure in Bitcoin than in the money in Wells Fargo.

Patrick Byrne, the CEO of Overstock.com was in favor of bitcoin. He said:

“This has been hacked at more than anything in history and has never been defeated. Last I checked, banks get hacked too. And yeah, Bitcoin is used by unsavory characters. Last I checked, they used U.S. dollars too.”

In December 2017, Byrne had considered selling his business to fund his new blockchain venture and is now working on reorganizing it.

Jayden, a market enthusiast tweeted:

“I mean I’m optimistic about crypto but this guy actually thinks Bitcoin will take over physical / tangible money. It won’t.”

A crypto enthusiast replied:

“Why not? Everything is digital now so a digital transfer of wealth seems pretty reasonable and where we’re headed, it’s just hard to grasp because we have grown our whole lives with physical money.”

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Bitcoin

Finland’s tax department – 30 Million Euros in the hole as thousands of Bitcoin [BTC] traders owe taxes

Aman Swami

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Finland's tax department 30 Million Euros in the hole as thousands of Bitcoin[BTC] traders owe taxes
Source: Pixabay

Finland’s government has revealed the number of taxpayers who owe taxes from Bitcoin-related income. The country’s Tax Administration claims to have different ways to combine information and identify people who owe taxes from crypto profits, which are now well over ten times higher than last year.

A lot of Finns have not reported income to the country’s tax department from the sale of cryptocurrencies in previous years, Kauppalehti newspaper reported last week. This year, the profits made by Finns from cryptocurrencies were well over ten times higher than last year, the news outlet added.

Senior Adviser from the Tax Administration’s Corporate Taxation Unit, Timo Puiro, says:

“Most of the people have previously failed to report their bitcoin-related income, which we have found when we compare the information we collect to the tax information reported…The Tax Administration has extensive access to information, for example, to payment information, and we have different ways to combine information and identify people.”

Metropolitan.fi reported, that the tax office has been given generous access to bank transfers and other data, which enables identifying people. By looking at the transfer records it is evident that in the past most citizens have not reported profits made with virtual currencies.

Finland’s cold weather and low-cost nuclear-based power is no stranger to Bitcoin mining. Both Bitfury and the now-defunct Kncminer have operated mining farms in the country. Today many smaller miners are still in business there. Other well-established crypto businesses are also located in the country, such as Localbitcoins and leading Nordic Bitcoin broker, Prasos.

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This is not the first time Puiro spoke about identifying undeclared income by Finns. In December of last year, he said the government had been analyzing Bitcoin wallets for this purpose.

Puiro added:

“We have analyzed more than 10,000 bitcoin wallets over several years, and in more than 500 cases we have found undeclared income which is taxable,” he emphasized at the time, adding that “Finland’s tax authority has identified bitcoin as one of the ‘high-risk focus areas’ and is prepared to redirect resources to ensure nothing falls through the gaps,”

While only 500 people were identified in December, Kauppalehti quoted the Tax Administration Office revealing last week that 3,300 people have now been identified as owing taxes from crypto-related transactions, adding:

“The aggregate capital gain of the 3,300 persons identified will be about 100 million euros, so the taxpayers’ share of the pot would be around 30 million euros.”

Metropolitan.fi reported that Bitcoin gains are taxed as capital income in Finland. They are treated the same way as dividends, rent or other similar income. The capital income tax percentage in Finland is 30% (in 2018) for sums under 30,000 euro.

Puiro, in the last week, was seen saying, that he hopes those who have made a profit on cryptocurrencies will voluntarily declare the income to the tax authority. He emphasized that if taxpayers fail to report income related to cryptocurrencies, the criterion of criminal tax evasion may be fulfilled.

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