February 7, 2020 by Antoine
Reuben Bramanathan, the consultant Blockchain and former lawyer of Coinbase, launched a week ago the Counsel (CNSL), a token Ethereum, which is equivalent to one hour of consulting, according to its designer. The first results reveal a success well-deserved.
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The results were rather encouraging
Last week, Bramanathan was able to take 20 CNLS, which represents 35 transactions to land in the hands of 14 holders to the final. Note that two chips on twenty have been sold for sessions of consultancy.
The gains on this sale amounted to 3976 dollars. The character has spent the 10% or 397 dollars, to a charity, Give Crypto that works for the crypto-donations to the needy people.
Having the opportunity to experiment with the chips CNLS, Paul Berg, the founder of Hourglass, confirmed by himself that they are a real success. He has exchanged the tokens for a brief discussion with counsel, during which he shared his views on the regulatory landscape in crypto-currencies.
I just redeemed the $CNSL personal token over a call with @bramanathan.
⚖️ He provided me with guidance on the crypto regulatory landscape
⏳ I in return streamed $CNSL to his ENS domain using @SablierHQ
You can do the same by going to https://t.co/kPqKzFavdk pic.twitter.com/GEoVdF32ji
Paul, Stream of Money (@PaulRBerg) January 27, 2020
What he gains from these chips ?
However, a few questions persist in the scope of this long-term experiment, which seems to work well in its debut. In fact, only a few days after its launch, the price of the token follows a frantic race for increased from 155 to 256 million dollars, or an increase of nearly 65% of its initial value.
“Although the price discovery is a major advantage of a token staff, too much volatility is not a good thing. I will have to carefully manage the liquidity risk that align the people out of the market, ” he said.
On the question of the taxation of capital gains arising from this price increase, Bramanathan is explained as follows:
“I would say that the purchase is an exercise of an existing right, not a transfer of ownership. If you pay a mandate to a lawyer, and that, subsequently, he increases his hourly rate, but that you agree to honor the old rate for existing customers, do you have a taxable gain? “
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