Commercial SNO Accounting

I was wondering how the commercial running of a node would be accounted. Is it like a rental contract? I rent my storage to the storj-network and get paid in storj-tokens? Will there be a contract available in the future?

No one? This would be the same for private people too if they reach a threshold of tokens. At some point everyone would have to tell the tax authorities about where those tokens come from, since they are not bought with fiat.

I guess it will be treated the same as mining coins. Depending on where you are there might be already tax regulations for this.

The tax authorities have no way of proving that I’m in posession of the private keys to a certain wallet. Easy as that :slight_smile:

The problem comes when you want to exchange to fiat.

Mining has a cost to it. Power gets translated to coins. Sharing my harddrive does not have a cost.

Your drive consumes electricity, so does the system you are running the node software on.

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Which no one forces you to do at all :slight_smile:
Just hodl your tokens and buy something nice directly with crypto…or get amazon vouchers…

But no one stops me to do it as well. I just would like to know the right way to do it.

I don’t know where I would get Amazon vouchers for crypto.
There are still not many offers to buy something directly with crypto.
In the end fiat currency is also something that can be bought.

Check out Bitpanda:

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That’s true, but a friend bought lots of stuff via crypto to evade taxation: a phone, VR headset, graphics card :stuck_out_tongue:

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