DCity: Steps to do when taxes are high.
DCity: Steps to do when taxes are high.
Look like for past couple of days taxes get sky rocketed and I guess it is attempt to curb the SIM inflation as SIM is going dirt cheap in the market. But as an individual we always work on maximizing our own profit.
In case of high taxes , the first thing should be done is to buy a Law firm for your city and it will reduce tax % by 10% of current tax rate. so if tax is 60% then law firm will cause your tax bracket 60% - (10% of 60) =54%.
Unfortunately they don't stack ,so buying one is enough.
Secondly ,I feel most of time that war keep going on and WAR also take good amount of SIM in taxes but if you have MIC(Military Industrial Complex) then you can get profits back in form of WAR Shares. Good thing is that MIC are stackable (Multiple MIC increase your war profit multifold). I also notice that WAR shares are completely independent of City taxes but directly dependent on War tax and number of MIC you have.
Third and most important is to keep building your Dcity, High taxes are due to cheap SIM and you can take this opportunity to buy SIM and build or keep progressing with reinvesting of your income in Dcity.
My Progress in Dcity.
Currently my base SIM income in Dcity is 277 SIM and my goal is to progress upto 2000 SIM daily by keep building nd reinvesting. If I closely see I am just completed 13.85% of goal. lot more to need to be done. I created this Dcity with just 150 Hive and in this regard this Dcity has grown up nicely.
Please feel free to upvote ,comment and reblog.
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Thanks needed this.
My strategy was to just buy cheap SIM to buy cards ( not from market ) but directly.
I have law firm already, haven't really thought about MIC
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MIC is really beneficial if WAR is on though you can have much better alternatives in case of no war but I have started some liking for MIC as I see 50% days WAR is on.
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All right I think I will buy them . Will it affect negatively if the war isn't on?
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No, then they behave like normal card according to their specification.(still generate little SIM income).
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Got it :) Will purchase it now .
Tagging my brother @srmallara - buy it , buy it , buy it .
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This is a good example of what can be done with 150 HIVE. Law firm always does its job. Now everyone should have a law firm to get the benefit. Thank you so much @r1s2g3 for your suggestion
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yeah, More the taxes, more you save using law firm.
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These taxes are absolutely insane. I get the reason but ugh I don’t sell SIM, I stack and buy cards! Too bad the taxes weren’t higher at times like this on the big accounts and the little ones don’t get hit so bad lol
I saw the period of constant 50% in past but jumping them to 60 to 75 % is just a overkill.
We are waiting for third edition card that can created demand for SIM but on other note after few days it will increase SIM inflation again.
Early Birds and big whales always make the most.
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Its time to check the market to buy some cards.. I am holding more then 4k SIM to reinvest... thanks for tips...
yeah, Keep the city in balance is the key.
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The taxes is making me think my city is worthless. Indeed value of the NFT cards in dcity has dropped. I would think higher taxes means lower SIM supply that in turn raise prices on all cards but nope.
Why Higher taxes will attract someone very new to game buy more card? Higher taxes simply means that we are trying to reach towards peg.
Let say city base income is 1000 SIM, with 33% tax you earn 660 SIM approx and SIM tanks to 0.0035 , so effect Hive you get is 660 x .0035 = 2.31
But say if there is 55% tax and SIM reaches it peg value of .005 then you will .005 x 450 =2.25.
Almost very similar results.
On the Contray, When SIM will reach peg value and we give again little relaxation on tax, then you will find more user jumping the game ,higher card price and once again above cycle is set to repeat.
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It's sad to see so much taxes and as a result, the SIM earnings have almost reduced to half of what I was getting earlier..from 10K SIM daily it has been reduced to 5K.. Lets see if these high taxes bring in some good results or not. cheers
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If these taxes bring the SIM prices to the peg value then it will not affect that badly.
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that's insane taxes voted for a new president and hopefully, we can see some low taxes pretty soon. cheers
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Honestly, I have not been monitoring my city so much. I noticed this pump in tax. It reduced my income by almost 60 percent which is very sad.
Good thought about the law firm. I'm not sure if I have law firm. I'll check and purchase one if I don't have it.
Like you said this is a good opportunity to purchase low and sell high. I have done this a couple of times in the past.
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