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Cryptocurrency |OT| Nothing from Money

D

Donos

Member
Now i know what someone here wrote about Liqui (exchange)... i feel like i have a 56k modem using it.It's really super slow. Nothing as bad as etherdelta so far but Liqui is right behind it.
 
TVexperto

TVexperto

Member
Cipherr said:
I typed out a long reply but instead let me just bottom line it.

It's a scheme. Stay away. Yes, some schemes pay out for a while, so your friend may have made a big return on his investment by now, but no that doesn't mean its not a ponzi, it is. Stay away from it.
Click to expand...

Alright thx, can you maybe specify? he swears by it and says bitconnect coin is like the 12th bigget coin now or sth
 
D

Donos

Member
TVexperto said:
Alright thx, can you maybe specify? he swears by it and says bitconnect coin is like the 12th bigget coin now or sth
Click to expand...

In this day and age, it's possible that your grandma is going to say to you that "Dogecoin is close to blowing up to the moon. Get in!". Don't invest because of stuff like this.
 
C

Cipherr

Member
I need the help of the group today. Looking for what I believe is called a software wallet?

I need a good one for Bitcoin and Ethereum if they exist. Myetherwallet is nice and all but Im going to be buying Ethereum and BTC and holding for abut 50% of my portfolio, and since that portion wont really be traded but MAYBE once in a week I'd like a wallet ala Ark on my PC that I can dedicate to holding the BTC and ETH.

Any good ones?
 
P

Pangya

Member
Anyone in the US familiar with how taxes should be handled with ARK and NAV? I know that with BTC, miners should report mined BTC as taxable income using market value as of the date/time the BTC was mined. However, ARK and NAV are PoS rather than PoW. Should ARK and NAV received as a result of PoS still follow BTC in terms of cost basis? Ideally, I'd like to keep my cost basis of rewarded ARK/NAV at 0 and pay capital gains taxes on the full amount I would sell them for down the road.
 
C

Cipherr

Member
Pangya said:
Anyone in the US familiar with how taxes should be handled with ARK and NAV? I know that with BTC, miners should report mined BTC as taxable income using market value as of the date/time the BTC was mined. However, ARK and NAV are PoS rather than PoW. Should ARK and NAV received as a result of PoS still follow BTC in terms of cost basis? Ideally, I'd like to keep my cost basis of rewarded ARK/NAV at 0 and pay capital gains taxes on the full amount I would sell them for down the road.
Click to expand...

I'm honestly not sure. But because of the way mining is taxed I think the stake rewards would be short term capital gains unfortunately. But these PoS coins are so new that I don't think there's much discussion or data that we can find anywhere that really tells us.

Some wild wild west shit here.

I think there are SOME Ark delegates that pay out in smaller intervals (like Monthly). That might help with recordkeeping I guess. But eh...
 
D

Drifters

Junior Member
I know state and federal anything under $10,000 for the year is not needed to report as capital gains; As for anything above that, check with a financial advisor.
 
G

galperi1

Member
So I finally got around to registering my delegate for ARK. If anyone from NeoGaf is a long term hold and interested in supporting a fellow gaffer, my delegate name is Goose.
 
G

galperi1

Member
Pangya said:
Anyone in the US familiar with how taxes should be handled with ARK and NAV? I know that with BTC, miners should report mined BTC as taxable income using market value as of the date/time the BTC was mined. However, ARK and NAV are PoS rather than PoW. Should ARK and NAV received as a result of PoS still follow BTC in terms of cost basis? Ideally, I'd like to keep my cost basis of rewarded ARK/NAV at 0 and pay capital gains taxes on the full amount I would sell them for down the road.
Click to expand...

I'm not a tax accountant, but I would go with the most conservative estimate for taxes which would be a 0 basis for cost and whatever the proceeds are once you convert it into USD. The tricky part might be keeping track of when you earned your stake to figure out if it would be long term vs short term gains.
 
H

hwateber

Member
Anybody else on this blackcoin ride? I know it's pretty risky buying in and swing trading during a pump but the volume has been insane today
 
T

TheDoldrums

Member
Cipherr said:
I need the help of the group today. Looking for what I believe is called a software wallet?

I need a good one for Bitcoin and Ethereum if they exist. Myetherwallet is nice and all but Im going to be buying Ethereum and BTC and holding for abut 50% of my portfolio, and since that portion wont really be traded but MAYBE once in a week I'd like a wallet ala Ark on my PC that I can dedicate to holding the BTC and ETH.

Any good ones?
Click to expand...

There are no good software wallets IMO. By their nature, any of them could eventually be compromised.

I used Jaxx initially when I was waiting for my hardware wallets to ship. I had heard good things. A week after I started using it, a vulnerability was discovered.

https://www.cryptocoinsnews.com/users-report-losing-400000-due-to-jaxx-wallet-vulnerability/

I would strongly recommend a hardware wallet if you plan on being in crypto for awhile.
 
C

Cipherr

Member
TheDoldrums said:
There are no good software wallets IMO. By their nature, any of them could eventually be compromised.

I used Jaxx initially when I was waiting for my hardware wallets to ship. I had heard good things. A week after I started using it, a vulnerability was discovered.

https://www.cryptocoinsnews.com/users-report-losing-400000-due-to-jaxx-wallet-vulnerability/

I would strongly recommend a hardware wallet if you plan on being in crypto for awhile.
Click to expand...

I already have one coming. 4 days! Lol, sorry just frustrating. I asked about this on 4 different places and everyone's like "Get a Trezor". Well mines doesn't arrive for 4 days, I ordered it before I posted. I want my coins off the exchanges in the interim.

Anyways I went with the Exodus wallet after some searching. I trust my unplugged laptop more than I trust Coinbase and Bittrex. Even for just 4 days.
 
C

Crispy

Member
Wow, got lucky tonight.

Had a very optimistic buy order for NAV which I set some time ago, and it got filled tonight. Far below the market price!

Someone made a mistake or is this a drop so short it doesn't even register later on the charts? Nice surprise anyway!
 
D

DrM

Redmond's Baby
pieface said:
Think ARK may drop to about 75-80k before next breakout. Could be a good time to buy if it reaches that area.
Click to expand...

Yeah, steady, but slow decline line over last few days... from above 90k to 83-87k.

The solid support line below 80k is at 77k, where it bounced back last week.
 
B

Borboleta Amarela

Member
The last weekend was a good one for me. I invested in Darcrus saturday at 13K sats. Woke up sunday to sell at 24K. Cashed out and put the returns all into IOC.

I really believe this is a sleeping giant and I'm buying as much as I can before DIONS. Even sold all my NEO (which I believe will be a triple digit coin eventually) to put it all into IOC. In the long run, I'll get more from my IOC stack than from my NEO stack.
 
C

commish

Jason Kidd murdered my dog in cold blood!
Borboleta Amarela said:
The last weekend was a good one for me. I invested in Darcrus saturday at 13K sats. Woke up sunday to sell at 24K. Cashed out and put the returns all into IOC.

I really believe this is a sleeping giant and I'm buying as much as I can before DIONS. Even sold all my NEO (which I believe will be a triple digit coin eventually) to put it all into IOC. In the long run, I'll get more from my IOC stack than from my NEO stack.
Click to expand...

This is what I cannot do - move out of one coin and into another. I always have the fear that I'm going to miss out because I invest in each coin for a reason, and I invest for the long term.
 
T

The Rizza

Member
Looks like the Red Pulse ICO is on again. Don't know the specifics exactly, but looks like they registered in Hong Kong and won't allow China to participate
 
H

hwateber

Member
Just as I was talking about siacoin, the price has dipped below 120 satoshis. I'm seriously contemplating buying an entire btc worth if it hits 100
 
H

hwateber

Member
Borboleta Amarela said:
The last weekend was a good one for me. I invested in Darcrus saturday at 13K sats. Woke up sunday to sell at 24K. Cashed out and put the returns all into IOC.

I really believe this is a sleeping giant and I'm buying as much as I can before DIONS. Even sold all my NEO (which I believe will be a triple digit coin eventually) to put it all into IOC. In the long run, I'll get more from my IOC stack than from my NEO stack.
Click to expand...

Any particular reasons why you believe your IOC stack will outgrow the potential NEO gains?
 
B

Borboleta Amarela

Member
hwateber said:
Any particular reasons why you believe your IOC stack will outgrow the potential NEO gains?
Click to expand...

I had 400 NEO vs 5500 IOC. Even if NEO reaches 400$, that would net me $160k. With my IOC stack, even at 50$ a coin, it would be around $250k. I really believe IOC is a triple digit, top 10 coin so my estimates of 50$ a coin are very conservative. By the end of september they will make a presentation on the european fintech awards, 2 weeks later DIONS will be launched and this week a review paper by a consulting firm will be made available. They spent 3 years under the radar, working on the project and now, finally, it's ready to launch and reach its potential. It's a 16 million supply coin with a 20 million market cap. Do the math.
 
D

Drifters

Junior Member
Ooophhhhfffff. The $BAT dip is real! Looks like it is starting to bottom out and perform a handle cup upwards. *fingers crossed*
 
D

Drifters

Junior Member
Borboleta Amarela said:
I had 400 NEO vs 5500 IOC. Even if NEO reaches 400$, that would net me $160k. With my IOC stack, even at 50$ a coin, it would be around $250k. I really believe IOC is a triple digit, top 10 coin so my estimates of 50$ a coin are very conservative. By the end of september they will make a presentation on the european fintech awards, 2 weeks later DIONS will be launched and this week a review paper by a consulting firm will be made available. They spent 3 years under the radar, working on the project and now, finally, it's ready to launch and reach its potential. It's a 16 million supply coin with a 20 million market cap. Do the math.
Click to expand...
Market cap is key as much as the under lying tech behind. I just read up on it this afternoon and seems to be a total sleeper.
 
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