Saturday, 31 October 2020
All I want for Christmas is a 20k bitcoin
Submitted November 01, 2020 at 07:39AM by demthiccthighs https://bit.ly/3eeBve2
A fun way to keep track of the BTC/USD price
I was looking on the web for something which showed the bitcoin price using funny animations, but could not find anything. So I decided to code something myself: A biker who rides on a landscape the curvature of which follows the BTC/USD price live:
https://www.thebitcoinrider.com/
I just started this out and would be glad to get some feedback, before refining the implementation.
One thing that I'm presently thinking to introduce are background landscapes which show the price at different time frames.
Also, I would be curious to know if something like that already existed on the web.
Submitted November 01, 2020 at 12:25AM by ChartInsights https://bit.ly/3oJ2bsr
I hate spending money...
Just wondering if this is a "bitcoiner" trait or any likeminded people out there. I've always been a saver, and ever since becoming involved in bitcoin for a few years back, I've been appealed to the self-sovereign, store of value, philosophy. I've always just put my leftovers of my paycheck in bitcoin. Every time I contemplate spending money for something I don't really need (outside of food, rent, transport, bills etc.) I've always asked myself, "Do I really need xyz, or can I put that extra money toward bitcoin?"
Basically every month, 3 things happen on payday: 1. I pay off my monthly credit card in full (since all my expenses and bills are on a cc), 2. I pay my monthly rent (since it cannot be paid on credit), and 3. I put all the leftovers in a savings account and/or in bitcoin. Then I repeat this every month at payday. I have 2 numbers to review each month, how much I spent on my cc, and how much I saved/put in bitcoin as leftovers.
I've been doing this since 2017, since the last bullrun, and I've had no desires to ever sell since then. I don't care about trading, I want to be self-sovereign, without relying on government policy/spending, I don't want to see my money rot away in a savings account as I hold my wealth for the many years to come.
Submitted October 31, 2020 at 06:52PM by brando2131 https://bit.ly/3eeNCI2
Reminder: if you haven't setup an account with an exchange, do so now
Happy $14K Halloween - loved making these
Submitted November 01, 2020 at 06:15AM by KiloHotelAlpha https://bit.ly/3oJWuu5
Bitcoin hits $14k on its 12th birthday as crypto figures hail asset
All I want for Christmas is a 20k bitcoin
Can you feel it ?
Submitted October 31, 2020 at 06:12PM by Mekilekon https://bit.ly/3ep8lJD
bfg miner error Failed to open Device Parameters registry key in lowl-vcom.c _vcom_devinfo_scan_windows__hubport():556: The system cannot find the file specified.
I have 10 moonlander 2 and I just bought another one I installed it with a new razer keyboard and now I am getting the following error with BFG miner
Failed to open Device Parameters registry key in lowl-vcom.c _vcom_devinfo_scan_windows__hubport():556: The system cannot find the file specified.
Can anyone help me fix it?
Submitted November 01, 2020 at 07:04AM by Disastrous_Nothing36 https://bit.ly/3jJKrcD
CNBC Anchor Pete Najarian REVEALS His Bitcoin Holdings! Big Change From Last 12 Years | Co-Host Tim Seymour Reassures CNBC Audience That Bitcoin Is Legitimate
Happy $14K Halloween - loved making these
Is the prophecy coming true?
High of 2019 beaten
I finally achieved my goal of 0.021 BTC !
Took me a full year of saving and a few stressful trades but I made it to my goal. Not much but it's a start!
Remember - not your keys, not your coins.
Stay well everyone!
What are your crypto goals?
Submitted October 31, 2020 at 12:55PM by internet_random https://bit.ly/31YLTlo
Questions about mining
Hey I new to mining and want to get into it! I was looking at the new bitmain s19 proS. I would get around .06-7 kw/h. It seems to be very profitable and able to pay for it self within a year. Is there something else I’m missing? And if the bitcoin price skyrockets wouldn’t that make it even better to mine? Please let me know!
Submitted October 31, 2020 at 03:55PM by trotterzz https://bit.ly/2TFiecr
Iran's central bank will now legally hold all Bitcoin used for imports/exports allowing them to bypass USD
Some long term goals ⛰
Submitted October 31, 2020 at 02:01AM by digitalmoneyguru https://bit.ly/3egpBAG
Proud to use this customized card everywhere. Indirect marketing to future HODLers.
Submitted October 31, 2020 at 06:49AM by nonononodno https://bit.ly/2TEA8fl
Question
I’m super interested in BTC. So interested that I want to mine bitcoin. Ik there is a lot that goes into it! Let’s say the bitcoin price goes up at around 100,000k a coin. Would it be profitable even though we have already mined most of the bitcoin that ever gonna be rewarded (18.5mil atm of 21mil). Let’s say I was gonna put 100,000k to fund my project. Please let me know if this would be possible at be profitable or even break even. ( also maybe able to get cheap electricity)😄
Submitted October 31, 2020 at 01:14PM by trotterzz https://bit.ly/3mDjd9p
Bitcoin Recovery
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Contact FraudAntagonist via Info@fraudantagonist
Submitted October 31, 2020 at 01:24PM by Jindalma https://bit.ly/35QWM9T
Jeremy Allaire, Co-Founder & CEO Circle Keen on using PayPal to Buy Bitcoin
Submitted October 31, 2020 at 01:50PM by Czfacts https://bit.ly/2TDePuv
‘Cash Is Trash,’ So Let’s Bet $425 Million on Bitcoin
I finally achieved my goal of 0.021 BTC !
Daily Discussion, October 31, 2020
The Bitcoin white paper abstract made from USD. Happy 12th birthday!
Friday, 30 October 2020
55% of American investors interested in purchasing Bitcoin. 19% more than a year ago. From Ameritrade.
Submitted October 30, 2020 at 11:45PM by whoissn https://bit.ly/2TBQHZs
Bitcoin is approaching new highs - Only 41 days have been higher
Interesting wrapped article from UK
Happy 12th Birthday BTC !
Submitted October 31, 2020 at 08:08AM by GbGb456 https://bit.ly/34GSHpu
why did Bitcoin go up today even tho the stock market went down? I'm glad you ask, its because Grayscale ETF bought 5,190 BTC today
grayscale bitcoin ownership +added bitcoins that day
465,196.251699 BTC as of 10/16/2020 = +8,659.05
465,307.212256 BTC as of 10/19/2020 = + 110.96
465,420.277404 BTC as of 10/20/2020 = + 113.06
465,500.039475 BTC as of 10/21/2020 = + 79.76
466,591.246521 BTC as of 10/22/2020 = + 1,091.20
467,280.740948 BTC as of 10/23/2020 = + 689.49
467,511.015376 BTC as of 10/24/2020 = + 230.27
471,924.518340 BTC as of 10/27/2020 = + 4,413.50
473,139.841716 BTC as of 10/28/2020 = + 1,215.32
473,861.168652 BTC as of 10/29/2020 = + 721.32
479,052.150352 BTC as of 10/30/2020 = + 5,190.98
source: https://grayscale.co/bitcoin-trust/
Bitcoin no longer follows stocks. Bitcoin will go up regardless of what stocks, ect do. To da moon!
Submitted October 31, 2020 at 05:47AM by atrueretard https://bit.ly/2HJxmTn
BEST TOOL TO WIN WIN BITCOIN ON BUSTABIT $$ EASY $$
Submitted October 31, 2020 at 07:29AM by Demensus https://bit.ly/3ek5scY
Proud to use this customized card everywhere. Indirect marketing to future HODLers.
Happy 12th Birthday BTC !
How Bitcoin's Antifragility Makes it Almost Unstoppable
Submitted October 31, 2020 at 01:21AM by SaneFive https://bit.ly/3e9XYce
The Largest Ever Bitcoin Options Trade Was Just Filed
Why Bitcoin is #1 Crypto
How hardware wallet Work ?
Family, I'm here
Ways to get quick bitcoin confirmation time
Announcing CLBOSS - Automated C-Lightning Node Manager
Submitted October 30, 2020 at 04:44AM by NimbleBodhi https://bit.ly/3e9GfBL
Numbers Don’t Lie, Bitcoin Is a Once-in-Lifetime Opportunity
Submitted October 30, 2020 at 01:44AM by sylsau https://bit.ly/3kGJHq8
Mempool stuck again...
It is absolutely great to see that bitcoin is rising but once again the mempool is stuck with transaction fees rising to almost $5 and more. Transactions with low fees are getting stuck for days and still not confirming.
Some people argue that if you want quick confirmation then use lightning network, but the truth is that lightning network is not that widely supported, its good for microtransactions and still risky.
Is there no solution to bitcoin's rise in fees every time its price rises?
Anyhow if your transaction is stuck in the mempool, you can check the status using a block explorer that also gives you an estimate of confirmation time.
Before sending a bitcoin transaction it is always advised to send the appropriate fees if you want to have it confirmed quickly, wallets now usually give you an estimate of the fees along with the corresponding confirmation time.
You can still check for an estimate of the fees here:
If your transaction is stuck you can either wait or use a transaction accelerator like:
Submitted October 29, 2020 at 11:34PM by primalfabric https://bit.ly/31UUhlQ
Bitcoin Fees Skyrocket, Some Transactions Taking Days, Relief Possible Next Week
Submitted October 30, 2020 at 08:18PM by thegreatknockjl https://bit.ly/2TQyZlb
Don't Sleep on Lightning - LN Development Progress & Future
Submitted October 30, 2020 at 03:52AM by NimbleBodhi https://bit.ly/3e6FUzX
Don't forget to set a reminder for this Saturday! — Bitcoin and Friends are caught in the trial of the decade. Will they be put in prison for life as “drug kingpins” or will the dubious powers that be let them go free? — New episode of Bitcoin of Friends is almost here! 📺
Transaction stuck? Read this
Pay Flight Ticket With Crypto
Revenge of the Austrians
People often speak of Bitcoin having its roots in the cypher punk community, but I view Bitcoin has having multiple roots that only became a viable currency when these roots merged. The technical contributions of the cypher punks are tremendous, but perhaps even more significant is Bitcoin's roots in Austrian monetary economics.
Throughout the history of humanity, there has been tremendous struggle over money with government consistently growing to take control of the money supply--and it's creation. This happens today in the form of Keynesian central banks expanding the money supply to finance the endless desire of government to spend and consume beyond what it would be able to without the ability to create new currency units at negligible cost. But this Keynesian practice was common throughout history as well, of course it was known by a different names then, but it was Keynesianism all the same.
Wherever productive and free people managed to save any significant wealth for the future, government would soon show up to start eating it away with Keynesian debasement, like rats showing up to help themselves to some cheese someone else labored to create.
There was of course people who rejected the Keynesian theft-apologist ideology. The Austrians called out the Keynesian governmental theft and exposed the harm a society suffers from allowing these intrusive government rats to consume whatever stored wealth they please, but things did not play out well for the Austrians. Any time there was an attempt by the Austrians to create a money that was immune from Keynesian appropriation government would promptly stamp out this monetary competitor and often the lives of whatever Austrians were associated with it's enterprise). Keynesian money does not fair well in the marketplace with competitions so governments that rely on Keynesian money for for their existence cannot allow such competition.
And so whenever Austrians attempted to challenge Keynesian monetary supremacy they were completely and utterly annihilated. Keynesian money had allowed government to grow in size and power into something analogous to a Death Star--a monstrosity of war and death with limitless capacity for destruction. Any attempt at a direct head-on assault or open challenge is doomed to certain failure. But just as a Death Star is designed around and completely dependent on a core, so to is government designed around completely dependent on a Keynesian money core from which it draws all of its power to fund and sustain itself. There is no Death Star without the Keynesian core. And all of the Austrians efforts to take out the core had failed. But then someone wrote and released a tiny piece of code--an imperceptible threat at first, but a threat in the form of a tiny new money that challenges the Keynesian monopoly. An Austrian money that cannot be killed.
This Austrian money has been steadily and consistently growing for the past 11 years and yet the Keynesians seem to be woefully unaware of their coming demise. I recall the arrogant Keynesian claim that We're all Keynesians now after the Austrians were wiped out in the realm of mainstream economic thought, and it is true we were all Keynesians because we had no choice but to use Keynesian money.
But now that monetary monopoly has a challenger to its global supremacy, and it is one that is immune to the massive government power to target single points of failure. You Keynesians are finished; you were finished in 2009, you just haven't realized it yet. The Austrians will have their revenge and the world will have a money that is free from surreptitious Keynesian theft.
Submitted October 29, 2020 at 09:48PM by ztsmart https://bit.ly/34E7Zv4
Wanted to buy bitcoins with my first salary. Any tips?
Do you feel happy with the bitcoin hashrate?
Submitted October 30, 2020 at 03:54PM by Valarhash https://bit.ly/35LriC9
I wonder why so many people, companies, and countries are choosing to use Bitcoin over the dollar as a source to store, and exchange value...
Daily Discussion, October 30, 2020
Important: How to Sponsor Bitcoin Core Developers and Why it Matters
Submitted October 29, 2020 at 09:33PM by wmredditor https://bit.ly/3jANWSE
Fidelity Digital Assets Expands Crypto Custody Service to Asia
Submitted October 29, 2020 at 09:50PM by hodl_ninja https://bit.ly/37QRcqG
Thursday, 29 October 2020
I bought a used truck for .215 Bitcoin!
Submitted October 30, 2020 at 08:39AM by RedditLady69 https://bit.ly/3kLbMMU
Central Banks Are Dropping Gold. Will They Eventually Buy Bitcoin? Iran Says Yes!
Submitted October 30, 2020 at 02:07AM by wmredditor https://bit.ly/3kHlyjc
I bought a used truck for .215 Bitcoin!
Use Lightning.
If you're planning on using bitcoin more than once a week, just send some sats that you plan on using over to a lightning wallet, to many people using the main chain for $10 transactions...
I recommend "Breez" for iOS and "Phoenix" for android, a lot of services accept lightning also
Submitted October 29, 2020 at 03:59AM by Yauper https://bit.ly/2HKGiIg
3 Hints Why Bitcoin Might Be 'Poised for Biggest Breakout Yet'
Submitted October 29, 2020 at 07:56PM by gigantovxh https://bit.ly/3ozKBXI
Iran Changes Law to Use Bitcoin For Imports
Just made a desk light 🤩
Submitted October 29, 2020 at 11:50AM by UsmarineOO7 https://bit.ly/2TMoO0Z
MIOTA Trading Red Drops -1.95% As BTC Soaks Positive Momentum
Submitted October 29, 2020 at 05:49PM by Czfacts https://bit.ly/3oEgle7
Someone managed to access all my gmails and Hotmails and gained access to my online wallets and took $1000 in crypto from me
We are so lucky to buy bitcoin at current prices, no matter $10k, $13k and so on.
In the future, we are only able to acquire some sats through goods and services, or at a much much higher fiat prices that less can afford. Few understands this.
Submitted October 29, 2020 at 10:06AM by LaziSnail https://bit.ly/3oE82zh
For Christmas I decided to offer 0.01 bitcoin to my relatives in order to make them aware about bitcoin and start questioning themselves about it. I invite you to do the same and involve them in this new financial revolution.
Help request lightning payments for Protonmail
Privacy-focused email provider Protonmail accepts onchain bitcon payments to pay for their email, calendar, VPN and now storage/drive services. They don't accept Lightning network payments yet but there is an on-going feature request:
It has only 490 votes, so if you have a Protonmail account and would like lightning payments to be accepted, use your voting credits to bump up this request to the top.
Submitted October 29, 2020 at 03:00AM by ActionsMatter https://bit.ly/3e3aDOi
How I lost all my BTC savings being greedy with futures trading.
I hope this post will be a big lesson for those who are in the same situation as i was, as well as I am seeking for any advice that could help me through this tough times.
So back in 2014 I first learned about Bitcoin and I loved the idea of cryptocurrency so much, that in 3-4 years from learning about it when I became 18, I started investing and trading.
As time went by I was investing small amounts, trading, and apparently slowly losing my money, but at that time it was ok because that were small amounts which I could afford to lose. In 2019 i moved from a poor country in Europe, for a better life to London. I was working in London and by the end of 2019 I got almost 3k£ in Btc, that were my savings.
But then the worse started to happen, I loved trading, have read many books, got through tutorials, and was slowly trading my way up, and then I discovered the futures with up too 100x.
At first I used low leverages, up to 10, then being greedy and not taking profits I always ended with losses, it started by losing small amounts, I was thinking let me put some more money in so I could trade what I lost back, I was getting emotional losing more and more, increasing leverages up to 75 rarely even 100. I was very upset with myself, at one moment when I already lost 500 I said no stop, but one-two weeks passed and I again was depositing to trade, and this snowball was getting bigger as I was losing even more hoping I will get everything back and hodl.
And right know I got a big life lesson, don’t trade unless you can afford to lose that money, and never let your emotions in trading, I lost all my savings totalling about 5000£, I go almost a 1000£ debt. Because I even used a credit card to load it up. I hate myself, because I could just hodl. And know not having a proper job due to COVID, I have to survive somehow. This is how you learn a lesson the hard way, don’t repeat my mistakes, just hodl and you will be fine.
Knowing that this community is huge, I would like to ask for some advice or tips, how should I deal with this in the future, how to forget this loss and move on(these 5000 were huge money for me). I m right now totally devastated, depressed and in kind of a dead end.
I am teaching myself programming, and already pretty good at some languages, my little dream is to become a developer, or to open a successful business, but being In thus situation, it’s hard to find a job in it sphere, without having a degree or experience, so I would appreciate any help and advice to go the right path. There are definitely people here that make good money and have been through tough situations, I want to know what’s your mindset and what was your journey.
And the fact that Bitcoin is in the start of a potentional huge bull run just kills me missing the opportunity. I encouraged everybody from my surrounding to crypto.
And to cope with the loses even didn’t help any tournaments, puzzles, airdrops and etc. The worst feeling to miss a one in a life opportunity by being such dumb and emotional.
Thank you for reading to the end! HODL and be smart.
Submitted October 29, 2020 at 04:15AM by FaBLee1 https://bit.ly/2TBc9hb
Add btc to your wallet through the new mining platform. 💯 legit, all evidence brought to you by fellow miners in the platform.
Submitted October 29, 2020 at 02:17PM by 99RocknRoll https://bit.ly/2G8QycJ
Daily Discussion, October 29, 2020
Mine Bitcoin from your phone for free
Submitted October 29, 2020 at 01:26PM by Winter_Captain_145 https://bit.ly/3mBQcuV
Wednesday, 28 October 2020
WARNING: Fake Iancoleman BIP39 Tool using ads to get to top of Google results
Looking up our brand name, we found someone who has been utilizing Google AdWords and are outbidding us to get to the top of google results. We also looked up for search terms for different hardware wallets and metal backups and the same thing is happening.
They’re promoting a scam BIP39 recovery seed phrase tool using INCOLEMAN (gross) rather than IANCOLEMAN.
DO NOT USE. Better yet, you can click the bajingles out of it and make them PAY PER CLICK.
Please spread the word and report them.
https://safebrowsing.google.com/safebrowsing/report_phish/
Edited: corrected formatting. was on the toilet phone and wanted to get this out asap.
Edit 2: now they’re using IANCOLAMAN https://i.imgur.com/Tkw94by.jpg
Submitted October 28, 2020 at 09:55PM by blockplate https://bit.ly/2HFQp0P
Just made a desk light 🤩
Bitcoin Mining: Beginner's Guide
Submitted October 29, 2020 at 04:08AM by EX-SCUDO https://bit.ly/31OWNtK
They'll never find an asteroid with 1000000000000 bitcoin on it
Submitted October 29, 2020 at 05:30AM by Hospitaliter https://bit.ly/3mwdwtP
We are so lucky to buy bitcoin at current prices, no matter $10k, $13k and so on.
Daily Discussion, October 28, 2020
Please utilize this sticky thread for all general Bitcoin discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you!
If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.
Join us in the r/Bitcoin Chatroom!
Please check the previous discussion thread for unanswered questions.
Submitted October 28, 2020 at 03:00PM by rBitcoinMod https://bit.ly/2HJZcz4
Officials Warn of Cyberattacks on Hospitals as Virus Cases Spike
How I lost all my BTC savings being greedy with futures trading.
Something regarding the older generation and bitcoin I realized today.
During a family sit down a few weeks ago I looked on my phone for the charts, my grandfather, sitting next to me said “you are a slave to bitcoin”. (I think he meant my phone but we talked bitcoin right before) uncomfortable silence for a few moments. After several seconds I responded: “bitcoin will and has set me free from the slavery you endorsed your whole life”. (Hour long discussion about the monetary system afterwards).
Apparently he was still under the impression bitcoin was a project that might fail any second which was highly volatile, speculative and even criminal.
My grandfather is pretty up to date with technology and appreciates learning from each conversation he has especially with the younger generations. He eventually agreed this was a revolutionary technology and embraced my enthusiasm. He also noted how our current governance is defect and this might solve it.
What really touched me he said he was excited for the future we are heading to which was very promising considering everything that’s happening and bitcoin is a positive thing to focus on. But he and his generation aren’t a part of it. He will be dead or uninterested by the time it brings true change to our daily lives.
It made me realize more than ever older people like warren buffet or old politicians have no ambition to see bitcoin or blockchain succeed in their terms of spotlight because it sounds like future technology they won’t be a part of.
I gave him around 0.05 BTC and said; welcome to the future, you’re a part of it now.
He sends me weekly messages now 😄
If you can’t beat them, give them bitcoin.
Can someone give all the haters and boomers some bitcoin?
Edit: edited minor things just to clarify.
I’m sorry if I offended anyone that interpreted my post as suggesting older people are clueless, ignorant or whatever. That wasn’t the point and I apologize if you are offended, I truly am. From my viewpoint “older” people (75+) around me or on the media aren’t particularly positive about cryptocurrencies and blockchain. Which makes perfect sense.
My point is, instead of trying to convince them or whatnot, engage them with kindness or a small gift after your explanation. They will appreciate it.
Submitted October 29, 2020 at 04:50AM by ElliotMeijer https://bit.ly/3kCDpHP
Ultra displays Bitcoin ads @ Sporting CP vs Gil Vicente
Bullish Michael Saylor Discloses 17,732 BTC ($175 Million) in Personal Bitcoin Holdings
Is It Too Late To Get Into Crypto?
Is It Too Late To Get Into Crypto? ? if not where should i start ?
Submitted October 27, 2020 at 11:35PM by Zubak121 https://bit.ly/3owCfjr
Coinbase Goes Down as Bitcoin Approaches 2019 Highs (Just in time!)
Why The Yuppie Elite Dismiss Bitcoin
I just want to buy BTC
Bitcoin Newcomers FAQ - Please read!
Hong Kong island today
Submitted October 28, 2020 at 12:52PM by Xotiah https://bit.ly/2Tui07I
Marathon and Riot battle for the title of America’s biggest Bitcoin miner
Submitted October 28, 2020 at 04:27PM by NicoleJamson https://bit.ly/3otBRT3
current mood ( ͡° ͜ʖ ͡°)
This is the Belgian Blue Bull. Give a 👍 if you want this guy to be in charge of #Bitcoin from now on!
Submitted October 28, 2020 at 10:47AM by TheCoindependent https://bit.ly/34yW9SW
Has anybody noticed, since the start of 2020 we have gone from 1.1m members to 1.7!?
Incredibly bullish!
Submitted October 28, 2020 at 10:45AM by btc1987 https://bit.ly/31NCJrT
Miners are in a dilemma amid withered water period and high crypto price
Submitted October 28, 2020 at 02:24PM by EROSBabe https://bit.ly/37MoLu4
Daily Discussion, October 28, 2020
Google searches for Bitcoin are still just at 7% of their 2017 peak
Submitted October 28, 2020 at 02:00AM by qbisq https://bit.ly/34wElb6
Hong Kong island today
Tuesday, 27 October 2020
[Serious] How to deal with Crypto Tax 2020?
First of all, please upvote for visibility + more opinions - this concerns all of us. Also, if you're stupid enough to think you'll get away with avoiding tax's despite KYC'ing to Coinbase & Binance don't bother commenting. News flash! you're gonna end up paying that tax in the long run + huge fines eating into your gains (or even putting you into debt).
Anyways... I started investing in 2017. As a noob I did what most people did, chased multiple shitcoins, bought and sold various different pumps getting wrecked along the way. Then towards the end of the year, my portfolio increased significantly... but I DIDN'T sell - so I didn't "crystalise" any gainz. (I sold a couple hundred here and there during hard financial times, but I'm guessing nothing close to the free capital gains allowance).
Fast forward just over 2 years, since then I've been buying BTC/ETH/XMR on a consistent basis. It's getting to the point where if I were to sell enough of my stack, I'd owe tax as it'd be over the "allowed" CGT threshold.
That leads me to my question... how the fuck are you supposed to calculate capital gains tax when it comes to crypto? For the past 3 years I've traded in and out of alt-coins on multiple exchanges (some of which don't even exist anymore). It would be easy if it was just FIAT IN vs FIAT OUT, but the fact that CRYPTO to CRYPTO is considered taxable just makes it a nightmare! On top of that I did some freelance work (paid in BTC) which adds to the complexity.
Take another example of what confuses me: Say I bought 1BTC on Coinbase in 2017, then 1BTC on Kraken in 2018, then 0.5BTC on Coinbase again in 2019, and hold them all in the same wallet. Then if I were to sell 0.5BTC in 2020, what Bitcoin was actually sold? Half of the 1 BTC bought in 2017? Is it FIFO?
I genuinely don't know where to start and need help. I don't want to be in a shitty situation (for example some massive 2017-esque bull run happens just before the end of the tax year and I decide to cash out and have 3 days to sort shit out). I want to be prepared.
I've come across services such as https://www.cointracker.io/ /https://bitcoin.tax/ etc but feel really hesitant to give quasi-unknown companies full read access to my wallet addresses, portfolio amount, personal email address etc. Privacy is key in the crypto space and I don't want another attack vector especially after seeing much more established companies such as Ledger fucking up (idiots) and losing my personal data.
What do I do? I've even thought of selling EVERYTHING to FIAT and immediately buying it all back and taking whatever fine comes my way on the chin just so I can clearly track crypto transactions and not have to stress about it.
If anyone has experience with crypto tax's please share any information that may be valuable to me/all the many others that are in the same situation as me.
TL;DR: Bought loads of Bitcoin and Shitcoins throughout the past 3 years, finally starting to total up to an amount that'd be taxable if I sold a chunk - dafuq do I do regarding Taxes?
Submitted October 28, 2020 at 02:47AM by finbar93 https://bit.ly/3e4fa36
When bitcoin hits $13,858, that means the price has risen $10,000 since the March dip.
The math checks out.
Submitted October 28, 2020 at 07:26AM by T-Archive https://bit.ly/2G5dnhz