cryptocurrency forum (bitcoin and more)

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wazoodog said:
Sad to say, I think manual is the only way to go. It really does suck - I went through it myself back in November. At least if you kept to coinbase, it's not so bad. I was trying to track down stuff I did across Binance in 2017, MEW send/receives, and it was with smaller alt coins. Absolute nightmare - and the kicker is I lost value on them so it was a lot of work without any feeling of reward. I think I'll only stick to BTC or ETH from here on out and will keep my trades to a minimum...and document the f out of them.
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I do manual - coinbase will send you the list of transactions, but I keep it in real time (running cost basis, etc) - it is a lot of work if you do a lot of day trading -
 
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Beautiful drop, strong and furious. Will likely take about next 1-2 months to dispel the bullish energy in order to build up the fuel for a rally in second half of the year.
 
CocoMelon0531 said:
Beautiful drop, strong and furious. Will likely take about next 1-2 months to dispel the bullish energy in order to build up the fuel for a rally in second half of the year.
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I'm just waiting for my funds to be wired into Kraken and hopefully I get to buy this dip soon.
 
CocoMelon0531 said:
going to be real about crypto tax here. I bought a ton of ETH on coinbase in 2019 in 20-30 diff transactions and sold all in profit later this year to lock in Trump long term tax on pro coinbase. Any idea to make my tax life easier rather than manual entering all transactions myself
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Report your total cost basis and what you sell them for. Just make sure the number is accurate.

If audited, then you throw them the transaction log.
 
mentos said:
Should everyone have a wallet then?
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It depends on your needs, if I was going to peace out for a couple of years and not pay attention to the price/if my exchange was going belly up, then I would.

The major exchanges nowadays are probably sufficiently secured both in technology and insurance in the case of losses, so I don’t worry about it too much.
 
mentos said:
Should everyone have a wallet then?
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If you have a large enough amount of value, then a wallet is more secure. I have used one but moved it all back to an exchange - I wouldn't bother with a wallet unless it's at least 15k or so (maybe more). I would almost definitely be using a wallet at 100k. I'm actually in a similar boat as that example - I had the 10-word password written on a sticky on my desktop monitor but my wife threw it out when work-from-home started. She uses it almost exclusively now and was doing some cleaning/organizing and it disappeared. Luckily, I don't remember the amount being in there to be much (but who knows in 10 years).
 
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wazoodog said:
If you have a large enough amount of value, then a wallet is more secure. I have used one but moved it all back to an exchange - I wouldn't bother with a wallet unless it's at least 15k or so (maybe more). I would almost definitely be using a wallet at 100k. I'm actually in a similar boat as that example - I had the 10-word password written on a sticky on my desktop monitor but my wife threw it out when work-from-home started. She uses it almost exclusively now and was doing some cleaning/organizing and it disappeared. Luckily, I don't remember the amount being in there to be much (but who knows in 10 years).
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LoL a sticky note? You guys don't have a password program like KeePass?
 
wazoodog said:
If you have a large enough amount of value, then a wallet is more secure. I have used one but moved it all back to an exchange - I wouldn't bother with a wallet unless it's at least 15k or so (maybe more). I would almost definitely be using a wallet at 100k. I'm actually in a similar boat as that example - I had the 10-word password written on a sticky on my desktop monitor but my wife threw it out when work-from-home started. She uses it almost exclusively now and was doing some cleaning/organizing and it disappeared. Luckily, I don't remember the amount being in there to be much (but who knows in 10 years).
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Gotta keep you keys in more than one place!
 
mentos said:
LoL a sticky note? You guys don't have a password program like KeePass?
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I have a pw keeper but it was a long sequence and I didn't feel like typing it in at the time...and didn't bother uploading a pic. I honestly didn't anticipate anyone else removing the sticky note haha. Ironically, my wife brought up this article by coincidence tonight and I reminded her my sticky note disappeared. She spent about 10 minutes looking for it to no avail, basically said the same thing as you guys about who tf keeps a sticky note, and that was that.
 
Schwimmy said:
BTC trying to drag Eth under 1k , But the buying pressure just isn’t letting it stay there for very long.
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I wish I doubled down yesterday. My emergency cash account is down to 4k, it's usually 15k lol. Stocks keep ripping too so I didn't sell anything.
 
Going to do some small repositioning for my newly acquired ETH here. Going to sell at around 1.3K and hoping to rebuy at about 1.1K
 
Not gonna lie I was tempted to sell after ETH dropped under 1100. Should have bought today instead of yesterday haha.
 
one more day until I collect my free 1.7 ETH. Oh the life of a passive income person when you hit on the investment of the decade.
 
mentos said:
You still buying?
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I think so if it dips to sub 1,000. Looks like the correctional pattern will be different this time. The beautiful thing about crypto is that O can honestly say I don’t know when it comes to short term price action, but I’m fairly confident in the price by Xmas this year, significantly higher
 
I didn't realize there's so many different crypto. Anyone get DOT or ADA? They have crazy gains compared to BTC and ETH.

Kraken has staking for DOT, KSM, KAVA and it says you can unstake at any time. These have way higher gains than BTC and ETH today, I assume that means higher risk?
 
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mentos said:
If it falls that low again then I'll jump back in. IDK what my problem is with crypto, I have no problem buying high risk penny stocks.
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Crypto is a super volatile, but super lucrative speculative asset. It works best when you can get a satisfactory entry point on a big name (ETH/BTC) and then just hold it for a few years.

Long-term capital gains tax makes this especially wild.
 
wagrxm2000 said:
So you are sitting out? What happens if it goes to 20k

You know because no one actually knows what will happen....

On the other side, my deck is slowly being paid for.
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1090 ETH long term hold here.

just trying to reposition for family member position
 
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Momus said:
I won't be surprised if some of the garbage people suddenly have $100M-1B. There were a lot of dumb assess throwing HDD without using a safe wipe or storing the key unencrypted.

I'll be taking all the HDD home if I were them.
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Would be amazing if they survived being crushed and being out in the rain.
 
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