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automatic

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  1. automatic

    2019 is winter

    9. BTC taking a dump...
  2. automatic

    US Tax Deduction for XRP Losses

    That is not accurate. Any crypto trade (even if trading one crypto for another) is considered a taxable event in the US. There used to be a like-kind-exchange loophole prior to January 1st 2018 that could have been used to ensure trade continuity on crypto-to-crypto trades and only assess taxes on actual crypto-to-fiat sales, but the law has since been revised to remove ambiguity and close that hole. Long story short, all crypto trades are taxable at present time. Regarding losses, only realized losses enter the tax equation. If you purchased at ATH and never sold, then your paper losses are unrealized and thus there is nothing to report. If on the other hand you did sell at a loss, then the capital loss gets netted against your other capital gains or losses, and the tax liability calculated on the final net amount. If that amount is negative, then up to $3k can be used as a deduction against regular income, while the rest can be carried forward to be used as a negative offset against capital gains in future years.
  3. ^^ This. Even the contractors working on my house started getting into crypto that December. Wish I would have listened to my gut then; when masses arrive, it is time to head for the door. Well... that was an expensive mistake. EDIT: On a positive note - crypto is a ghost town at the moment, so it must be a decent time to get back in.
  4. "The owners of some of bitcoin's oldest accounts - many of which have long been dormant - have shown signs of life starting in October. The actively-traded supply of bitcoins has risen 40% since last summer, according Stone. This is important because a similar pattern preceded large price swings in 2015 and 2017, most recently foreshadowing the frenzy of (manipulation aided) buying that sent the price of a bitcoin to $20,000 briefly before prices cratered the following year." Whales don't usually dump in a down market; it seems more likely that stashes are being readied in anticipation of a pump.
  5. More than zero: In either case, 200 client milestone = forward progression. Relax and rejoice.
  6. automatic

    Uphold comments on XRP!

    That would be interesting indeed. There were more than few times in the past where I wondered if the cryptosphere is sustained solely by coins with fiat ramps and an accompanying buying interest (such as xrp); xrp starts the rally and then quickly gets sold off to btc which effectively transfers the buying pressure. Tinfoil? Hmmmm...
  7. automatic

    The Order Of The Phoenix

    That was a bit too much tinfoil for my taste buds, but to each their own I suppose.
  8. I had low expectations coming into this day 12, but somehow Coinbase managed to exceed expectations still. For this last day, we give you.... fluff. Wow, thank you! I love fluff!
  9. So, today is the day 12. What do you think chances are that Coinbase will finally redeem themselves by giving the cryptosphere the holiday present they have all been asking for? If xrp today, then their 12-day campaign can be called a success; if no xrp today then this is a marketing flop of monumental proportions.
  10. This article sums it up pretty well: https://www.fidelity.com/mymoney/how-do-capital-gains-and-losses-carry-over
  11. Correct. In the US crypto is taxed as property and as such is not subject to the wash sale rule; in other words, each and every transaction is considered to be a taxable event. $3000 loss is the maximum amount that can be deducted against regular income, however any leftover capital loss can be carried forward and used in subsequent years to offset future gains, so it's not all bad.
  12. As usual, they are getting lambasted on Twitter for this latest (non?)announcement, and as usual 90% of the comments are about xrp...
  13. Reason? Pump and dump. Exact size TBD. Just another day of wealth transference in crypto land.
  14. automatic

    TD Ameritrade Drops Major Hint About XRP

    Agreed; I was conflicted about posting this for the very same reason - the article was **** and the quote inconclusive. Still - my take is that although TD didn't say "yes" they also didn't say "no"; both combined do offer some insight on the overall state of the industry at the moment.
  15. https://bitcoinexchangeguide.com/td-ameritrade-drops-major-hint-about-xrp-ripple-community-roars-in-excitement/
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