OGV (OWNER GROUP Value) About OGV

3 answers

  • Is OGV a taxable income?
    Yes, earning OGV through an exchange transaction is taxable income because it is considered a barter transaction, just as if the good or ...
    Yes, earning OGV through an exchange transaction is taxable income because it is considered a barter transaction, just as if the good or service was sold for cash.

    The value of the Item acquired using OGV must be included in the owner's income for tax purposes. The amount to be included would be the value of the Item converted to each country's legal currency, considering that OGV is valued in U.S. dollars (OGV 1 = USD 1).
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  • Is OGV safe?
    Yes, OGV are safe because transactions are verified by network nodes through cryptography and recorded in the Owner Group's ledger.Transa...
    Yes, OGV are safe because transactions are verified by network nodes through cryptography and recorded in the Owner Group's ledger.

    Transactions are defined using a Forth-like scripting language. Transactions consist of one or more inputs and one or more outputs. When a member sends OGV, chooses a member and the amount of OGV being sent to that member in an output. To prevent double spending, each input must refer to a previous unspent output in the database.

    The use of multiple inputs corresponds to the use of multiple coins in a cash transaction. As in a cash transaction, the sum of inputs (coins used to pay) can exceed the intended sum of payments. In such a case, no additional output is used and therefore not returning the change back to the payer.
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  • What is OGV?
    OGV is a virtual currency, a form of electronic cash. OGV stands for OWNER GROUP Value and is valued in U.S. dollars (OGV 1 = USD 1)...
    OGV is a virtual currency, a form of electronic cash. OGV stands for OWNER GROUP Value and is valued in U.S. dollars (OGV 1 = USD 1).

    OGV acts in 2 ways:

    Unit of Account
    Providing a common measure of the value of goods and services being traded. The value of all goods and services listed in OWNER GROUP is expressed in OGV.

    Medium of Exchange
    Facilitating the exchange when there is no a double coincidence of wants between two transacting parties. OGV can be sent from member to member directly on our network as a payment for goods and services, without the need for intermediaries.
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