02 Jul Tweets of interest 02/07/21

It’s Friday!! 🥳🥳 It seems like a slow news day today but I will report on what has been sent in – thanks guys for your contributions, we appreciate it!

NFTs (again)

So here’s an interesting tweet from @xembook (thanks for the translation @DjCellBlock!). We all know that NFTs are hot at the moment, you can’t seem to escape talk of them in the crypto space. As we have reported recently, you can already buy and sell NFTs on the Symbol blockchain at nember.art (and there really is some awesome art on there).

Where was I? Ah yes, in his tweet XEMBook raises the question of taxes. It seems that in Japan NFTs are treated as collectibles and therefore are not subject to some of the financial regulations associated with cryptocurrencies. I guess this makes them even more attractive to our Japanese friends. I think that the tax regulations in Japan are even more complicated than here in the UK 😬

Comments and opinions

It’s a double header from @TrendStream today! Thanks @SamiurR76186237 for bringing this to my attention. Here is a commentary on how harvesting is getting more difficult month on month as more XYM holders are participating. I made a whole blog post about this that you can read here. He also states that transactions on Symbol are sparse (again we comment on this here) and that XYM value is suffering (although this is probably true for the whole market). However, on the bright side ☀️ harvesting is still bringing a decent chunk of pocket money in for Mr Trest, nice – enjoy it! 😎

On a related note, I produce weekly stats on harvesting. You can see for the last two weeks the number of harvesting accounts have decreased but there has been an increase in the total balance of harvesting accounts. Guess this means the whales are accumulating 🐳🐋..

The second @TrendStream tweet was sent in by @Niashabid17 and the translation is certainly something that I agree with. We the people are definitely investing in Symbol, the technology, not in NEM Group Limited (NGL). It is us (the community) that will make or break it. When you invest you invest in yourself, that’s what a public blockchain is all about. So guys, as I say in almost every post I make. Get involved, support us, spread the word, start using the tech and don’t solely see XEM and XYM as coins you trade on an exchange. If you want to see us succeed then we need as many as possible of you to contribute, even in a small way, to make this happen.

Thanks 😊

We have been going for just over a week now so just wanted to say thank you again to everyone that has helped make this blog happen and also thanks to you the readers! Please spread the word about Symbol Blog and as always if you have any news you would like us to publicise then please let us know!

I think that is it for today so have a wonderful weekend! Hope that the weather is better where you are – looks like I am staying indoors 😭

NineLives

I’m a Symbol and NEM enthusiast and run this blog to try to grow awareness of the platform in the English-speaking world. If you have any Symbol news you would like me to report on or you have an article that you would like to publish then please let me know!