#NOT QUALIFIED FOR KEYBASE AIRDROP FREE#
“The dominion and control doctrine applies to rights and property received, but not paid for, by a taxpayer, including unsolicited property such as free samples and security purchase rights,” explains Jim Calvin, Global Tax Leader, Deloitte, and further, “A sale of rights, as in Rev. An OMG token sale could reflect acceptance and exercising dominion and control. The user has possession but hasn’t necessarily accepted the coins as her own, therefore acceptance could be selling the tokens at a later time when they have value. Most of the time, the tokens are worthless, and there is no active trading market. At the time of the airdrop, the user can transfer, sell, exchange, or otherwise dispose of the tokens. Token standard airdrops are akin to getting unsolicited property, free book samples, or soap samples in your mailbox, except in the case of crypto, the user may have NO idea the OMG airdrop existed. 8 Coin Center explains it like this, “A better term for a blockchain fork that leads to two divergent cryptocurrencies would be a contentious fork…In a contentious fork, both networks recognize these pre-fork balances as valid so, in that sense, a user of the pre-fork chain will, by no action of her own, “have” tokens on both networks post-split. Chain-split coins always exist on a 1:1 basis. Every ETH token holder who controlled their private keys before the split is entitled to the same number of tokens on the new chain.
7The minority miners continued mining the original chain, Ethereum, with native token ETH, which “branched” into Ethereum Classic with native token ETC effectuating the chain-split on July 20, 2016. A small group of dissenting miners was steadfast in believing “Code is Law” and blockchain immutability shouldn’t be compromised at any cost. 6The Ethereum community chose to roll back the blockchain via hard fork to “reverse the theft” and get the ETH back.
The DAO was a decentralized investment fund of sorts built with Ethereum however, a hacker drained $50MM in June 2016 from a record-setting $150MM ICO at the time.