What I Would Do With a $50,000 Airdrop and A 100,000 Hive Power Delegation

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What would you do with an airdrop of $50,000 dollars?

$50,000…….WOW!!

If I receive $50,000 from anywhere, being that I live in the US I would have to pay taxes, so 28% of that would go to Uncle Sam (the IRS our tax bureau.
That leaves me #36,000. Wow, I wish Uncle Sam didn’t have to get so much!

With that $36,000 I would split it three ways.

$12,000 for me to help improve my personal life. Paying bills and taking care of life necessities. And of course, spending some on the grandbabies.

$12,000 for my savings which would be used at a later time mostly for business expenses and investing but also for things that may happen in life that requires me to pay for things I ordinarily might not be prepared for.

$12,000 for purchases crypto here on hive as well as delegating to some projects and helping others getting started on hive.

If you are given a Hive Power of 100,000 Hive how exactly do you plan on using it?

This is the easiest of the two questions.

50,000 would just stay in my account to keep my own hive power up increasing my voting power tremendously.

10,000 HP would be delegated to the community I’m building.

As for the remaining 40,000 HP I would delegate to various initiatives/projects on the hive blockchain in the amount of 5,000 HP each.

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15 comments
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Wow

Your plans have everyone in mind, first the IRS, then your grandbabies, from there to voting people tremendously, extend to community/projects delegations, and finally your own community.

This is a selfless act, I must say, but I am glad you remembered to love yourself as well, by keeping most of the rewards for your upkeep, savings, and investment plans

You have a generous heart, and I wish you luck in the contest

Posted Using LeoFinance Beta

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Smile.. You remember about tax. Tax payment did not come close to my mind at all. Maybe that's because I am a student and paying tax is not strict in my country.

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Well it is in my country. Also I studied accounting and worked as a tax professional for 13 years, so whenever I'm getting large sums of money, that's my first thought.

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Wonderful plan! I'd love to see how you are delegating to folks here after your have earned more ctp and hive power. :) Love this post. -Rob

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Even though my earnings are not very high now I try to delegate to anything I believe in. It may not be much but I give share what I can.

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Is tax charged on cryptocurrency transaction too? I did not know they do. It's good to spend on personal needs, it makes one free from worries of unsolved problems. Which community are you currently building?

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In a way, it's kinda complicated to explain. It must be reported on our taxes especially when there's a huge gain. In the case of my response to the questions, I would have to pay taxes because I would be withdrawing the money in USD so it must be reported and taxed.

My Community is Team Future Faith.

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Wow, unlike here in Nigeria, taxes is only charged in current account with banks.
We await the launching of your community

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First, 28%?! 😲 That's a lot to pay for tax in your country! That's like more half of the airdrop sum. All the same, it's a good thing to fulfill your obligation as a citizen.

Savings for emergencies and investing in cryptocurrencies is a smart plan. I see digital assets are here to stay. Almost every entry talks about investing in crypto. I'm thinking if this contest had come up like a year or two ago, I doubt the answer would have been the same.

Nicely written. Good luck in the contest. 🙂

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Yes that is a lot of taxes and I hate it but I also have to consider the other income of my husband and myself. ordinarily taxes aren't that high unless you earn 6 figures a year and that would put us at that point.

If this had been a year ago, my answer would still be the same. Investing in crypto is the future!

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Lolll... Uncle Sam is really making huge sum from everyone. Paying tax can be a pain but from what I know, it is used properly over there unlike what we see in many African countries.

Your plan is cool. I like how you intend to use some part of the money as a reinvestment into crypto. From what l know, the investment can be tripled within the twinkle of an eye as far as it is invested in the right tokens.

As for the HP, l must say that you have a very decent plan for it. It would be nice to see how the outcome of the community you are building.

Well Done

Thanks for participating in this contest

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First of all I really happy to have the opportunity to be a part of this contest, I could really use the winnings.

While the US may be better off than most countries the taxes are not always used properly in my opinion. There is still a lot of poverty in many areas and not enough medical care for the less fortunate.

Thanks for liking my plan, but that's a lot of money and would be selfish not to share with others.

As for my community, I am learning now how communities work and what everything means so that I can hopefully make it one of the best around. I should have it together soon.

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