Search results

  1. R

    THE CRASH OF FEB 2018

    As opposed to this lukewarm, just sort of sell-off we have right now?
  2. R

    THE CRASH OF FEB 2018

    I hope this is true, but there is absolutely no reason to believe this will happen again. The crypto landscape has changed immensely in the last 12 months. Lightning Network does not make Bitcoin faster. People need to stop repeating this. Lightning Network is a workaround that postpones...
  3. R

    Taxes on Cryptocurrency

    Nice? I guess. I mean, I had to learn how to write software and learn how to trade cryptocurrencies. It's not like someone just dropped by and handed me a disk.
  4. R

    Just mine or trade?

    I've done both and I made way more trading than mining. Orders of magnitude in difference with less invested.
  5. R

    Taxes on Cryptocurrency

    I run a few different strategies that I wrote.
  6. R

    Taxes on Cryptocurrency

    Why wouldn't it be legal?
  7. R

    What longshot coins are you sitting on? Here's mine

    An XRP transfer can be used to fill in a gap thati n a transfer chain. It's the last resort, so it won't be used much at all.
  8. R

    Recovering Litecoin Wallet

    You need your secret key. You should have printed it out and put it in a safe place. If you didn't do that, I think you're SOL.
  9. R

    Asking friend to buy crypto for me?

    Sorry your relationship with your sister isn't an honest one. Please don't project that onto relationships you know nothing about.
  10. R

    Asking friend to buy crypto for me?

    Let's be serious. You don't know my friends. You don't know my family. You don't know me. You don't know what conversations took place before, during, and after the assistance I gave to people. So before you go insulting the people who are important to me, maybe take a second to take stock of...
  11. R

    Asking friend to buy crypto for me?

    I've handled a ton of money/crypto as a favor to friends and family in the last year. You guys are cynical.
  12. R

    Asking friend to buy crypto for me?

    I wouldn't need a contract with any of my friends. That's why they're my friends.
  13. R

    Taxes on Cryptocurrency

    Yes, you can. It would be foolish, but you can do it.
  14. R

    Taxes on Cryptocurrency

    Your friend is going to have to work that out with Coinbase. They have limits on withdrawals that start out fairly low. Higher limits must be applied for.
  15. R

    Anyone else on the RaiBlocks train?

    A bug at Shitgrail allowed people to match against orders deep in the book instead of best-price. Which allowed them to manipulate the price down. XRB badly needs a legit exchange ASAP.
  16. R

    Taxes on Cryptocurrency

    Yes, you should be keeping a log of when you receive coins. You can find the value at the time you received it by looking at the historical value at CoinMarketCap or CryptoCompare. Whatever you do, just be consistent. I think CMC prices are the best approximation of the fair market value.
  17. R

    Taxes on Cryptocurrency

    For mining it's actually pretty straightforward. When you receive a coin from mining, that's income. The amount of income is the value of the coin in USD when you receive it. This is also your cost basis. Changes in value of the coin after you receive it don't matter until you sell it. When...
  18. R

    Taxes on Cryptocurrency

    The difference is the business doesn't pay Social Security and Medicare. I am an employee of the business with a reasonable salary and FICA comes out of that, but it doesn't come out of the rest, which passes to me as shareholder distribution. It's worth noting that I was already self-employed...
  19. R

    Taxes on Cryptocurrency

    Seconds. Minutes. Hours. Days. Weeks for some. I move it around a lot.
  20. R

    Anyone else on the RaiBlocks train?

    RaiBlocks isn't mined, so buying is the only way to get it.
  21. R

    Anyone else on the RaiBlocks train?

    Today I passed my quadruple point and it seems like it may still have legs. It's a much better Bitcoin than Bitcoin, so maybe there's something here.
  22. R

    Taxes on Cryptocurrency

    All of my crypto activity is in an LLC that files as a pass-through. I run a trade bot that, at times, makes thousands of trades a day. My accountant told me to not worry about every trade and just call it business income when I cash out to fiat. Trading is just business activity. I never...
  23. R

    Are there any good solid exchanges left?

    You'll get the best rate for the exchange you want to do at GDAX. Selling LTC for BTC is usually better there than any of the other "top" exchanges. Plus, if you sell as a "maker" you'll pay 0 transaction fees. GDAX also has 0-fee withdrawals, which is a huge deal if you're withdrawing BTC.
  24. R

    Banks: "Don't trade on Coinbase."

    Those are two different things. Yes, we can send money person to person instantly with a number of PayPal/Google Wallet/Swipe/Venmo type of applications. But Coinbase, for some reason, takes a really long time to process bank transactions. It takes at least a week to deposit money now.
  25. R

    What longshot coins are you sitting on? Here's mine

    RaiBlocks (XRB) has got my attention. The idea makes sense and the execution seems pretty solid. Fast transactions with no transaction fees.
  26. R

    IOTA

    Science and tech reporting is generally pretty bad in the age of click journalism.
  27. R

    IOTA

    To be fair, it wasn't anyone at IOTA that made it sound like they were partners with Microsoft. That's just what some journalists wrote. It definitely doesn't help, though.
  28. R

    Sold a litecoin on coinbase

    GDAX is the exchange that backs Coinbase. The Coinbase interface is very simple and they charge a fee for that simplicity. When you issue a buy or sell order from the Coinbase interface that is handled as a Market Order on the GDAX exchange. You can transfer coins or dollars between Coinbase...
  29. R

    IOTA

    Fortunately I got all the way out when it was still above $4. I wasn't trying to escape IOTA so much as free up capital to do arbitrage on the ridiculous LTC price differences there were yesterday. Looking for a floor to get back in. This attack on IOTA has definitely indicated that a rethink...
  30. R

    IOTA

    IOTA is a currency. The point of the network is to enable thousands of transactions per second, with many of those transactions being transfers of value. I don't understand why you're confused by the presence of a coin. What were you expecting? If you don't like Microsoft, don't use Microsoft...
  31. R

    [H] coin

    I'm in.
  32. R

    IOTA

    What you posted exlains "lightclients" which is exactly what I'm describing. A light client is not a node. A light client uses a node.
  33. R

    IOTA

    Just a basic study of how IOTA works reveals that this makes no sense. You can't put a node on an IoT device because a node has a copy of the tangle. I mean, you can, but why would you? IOTA was designed so that signing a transaction can be done separately from attaching a transaction and it...
  34. R

    IOTA

    Except that the damn cats have got the ETH network so clogged that BTC is actually faster now. Better to use LTC if you want speed.
  35. R

    IOTA

    Binance doesn't have stop-loss built in. You can emulate it with a bot through their API. How far down is it going to drop? The current price is about 7.75 times what it was when you called it a "scamcoin". Is it going to lose all of that value? A sell-off seems like a pretty logical...
  36. R

    IOTA

    All? Maybe not. Some? Sure seems like it. That said, I put my whole stack into IOTA just prior to the OKEx launch and have enjoyed watching it quadruple. I keep thinking I need to re-diversify but with 20-40% gains every damn day it's kind of hard to. The IOTA team says there is some pretty...
  37. R

    IOTA

    If you're in the US, Binance is really your only option right now. You can use GDAX to convert fiat into ETH and withdraw it to Binance for no fees. If you place a limit order that's a "maker" you won't pay conversion fees, either.
  38. R

    IOTA

    Just enjoying: Which is comically detached from reality. Just being an Internet asshole, really. I think we all enjoy a little told-you-so sometimes. However, I did start the thread with good intentions. As soon as I wrapped my head around IOTA I saw its potential and figured folks here would...
  39. R

    IOTA

    "Scamcoin" https://www.reuters.com/article/us-blockchain-iota-cisco/blockchain-network-iota-teams-up-with-cisco-volkswagen-others-on-data-marketplace-idUSKBN1DS2EE http://www.lattice80.com/2017/11/28/lattice80-and-iota-foundation-to-open-innovation-lab-in-singapore/
  40. R

    Mining Success/Horror Stories

    I went gung-ho and spent about $11k to build 4 rigs. Managed to buy most of my parts at rational retail prices just before the craze hit. Mined for a few months, made a few $k in ETH, ZEC, and XMR. Realized I could sell my rigs for a profit. Did so. Came out ahead by about $3k all said and done...
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