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    [Daily Discussion] Monday, December 25, 2017 Bitcoin Markets

    December 25, 2017

    [Daily Discussion] Monday, December 25, 2017 Bitcoin Markets

    [Daily Discussion] Monday, December 25, 2017

    Posted: 24 Dec 2017 08:06 PM PST

    Thread topics include, but are not limited to:

    • General discussion related to the day's events
    • Technical analysis, trading ideas & strategies
    • Quick questions that do not warrant a separate post

    Thread guidelines:

    • Be excellent to each other.
    • Do not make posts outside of the daily thread for the topics mentioned above.

    Other ways to interact:

    submitted by /u/AutoModerator
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    Crypto->Crypto Capital Gains Tax

    Posted: 24 Dec 2017 09:04 PM PST

    This has probably been asked a million times, but:

    With the new tax bill going into effect, Cryptocurrency trades don't seem to qualify for Like-Kind trades. Which means they generate capital gains tax.

    My questions are:

    1) When you make trades, do the losses negate the gains? In other words, is the capital gains equal to the sum of the losses (whether positive or negative gains)?

    2) If losses don't negate the gains, is it possible to owe more in taxes than you actually made?

    3) Do you owe any of these taxes before you actually convert your coins to cold hard cash?

    If #2 is true, it doesn't seem like trading coins to gain profit is even worth it anymore, due to the risk of going negative...

    submitted by /u/PalidorPaladin
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    My new tool to track your portfolio and keep you up at night ��

    Posted: 25 Dec 2017 07:46 AM PST

    Hi all,

    Me and some friends have been working on a simple to use tool to track your portfolio and monitor prices.

    It includes the ability to favorite coins (which I've missed a lot) and we are working on extending the portfolio feature to track over time and show P/L. You can log in and save portfolio across devices.

    Feedback and suggestions very welcome! You can see the site here:

    https://coincall.io/

    submitted by /u/vrbelli
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    BTC/Altcoin Trading

    Posted: 25 Dec 2017 03:21 AM PST

    I see people trying to increase their btc holdings through altcoin trading and I wonder what exchange is the most suitable for this purpose. Which exchange has the lowest fees for trading coins? Which exchange has the best functionality? Most reliable? Etc.

    submitted by /u/IINewton
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    5K USD Kraken wire. Nothing after 8 days. Normal?

    Posted: 25 Dec 2017 07:38 AM PST

    I wired 5k USD to test Kraken since the 17th of December. I haven't seen anything in the account yet. I opened a ticket and they asked for the wire info which I sent. Since then I have not heard form them.

    What should I do?

    submitted by /u/Smith-JohnSmith
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    Anyone know where I can find a BTC/USD tick chart?

    Posted: 25 Dec 2017 05:29 AM PST

    I prefer them to normal time charts.

    submitted by /u/8thWardandBored
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    How do you guys deal with losses?

    Posted: 24 Dec 2017 04:23 PM PST

    Feels so bad losing so much BTC but keep seeing wild swings and potential profit..

    I keep trying to win it back.. losing.

    anyone else in the same situation?

    submitted by /u/tingtongfarang
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    Merry xmas all.

    Posted: 25 Dec 2017 09:20 AM PST

    And an extra merry one for me. I finally gained access to my cold storage wallet from 2012. Had been locked out due to insecure id.

    Also a shout out to slushpool who held onto my account with 1.7 btc sitting in it since 2014, updated my payout address and reduced minimum from 4 to 0.0001 payout.

    Hope you all have a bit of luck like me.

    Might be a bit of extra downward pressure on the au market while i cash out.

    submitted by /u/be-happier
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    Successful Trader Looking for Options

    Posted: 25 Dec 2017 09:07 AM PST

    Hey all, I have found this subreddit helpful in the past, so I'm here to ask for more help.

    I've made around 20x returns in Bitcoin terms since June 2016 and roughly 400x returns in USD terms. I write programs to trade altcoin/bitcoin pairs. I believe my strategies may be reaching capacity in the US markets, but they're still highly profitable on exchanges outside US (e.g. Bitfinex). As a US resident, I'm unable to do anything about that.

    Are any of you in a similar position to me and would like to talk to me personally about options? I'm particularly interested in working with someone who is not a US resident and has a lot of capital to work with. But really, I'm willing to work with anyone who is in a similar situation.

    Merry Christmas!

    submitted by /u/eugene_fama
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    Why does GDAX not send BTC transactions out to mempool fast?

    Posted: 25 Dec 2017 08:48 AM PST

    McAfee's coin of the day - why not BTC?

    Posted: 25 Dec 2017 08:39 AM PST

    He should just make btc coin of the day and the bots will pick it up and we shoot up to 30k within minutes.

    Rinse and repeat until we get to 1mil.

    Maybe he is keeping btc for the last day?

    submitted by /u/Alkanida
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    When LN will be in place in 2 weeks as planned, will I be able to move my BTC to Gdax instantly with zero fee?

    Posted: 25 Dec 2017 07:35 AM PST

    There's been a testnet for LN for 6 months now: https://htlc.me/

    submitted by /u/unitedstatian
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    Some questions about taxes, bookkeeping, and GDAX / coinbase records

    Posted: 24 Dec 2017 03:01 PM PST

    ** I know this is long - if you are able to answer any, or a few, of the questions contained in this post, I would be extremely thankful. Really any comments would be appreciated so I know I'm not alone**

    I've read all the threads on this and other subs regarding taxes, and recently bought a 1 yr. subscription to cointracking.info. Unfortunately, I purchased ETH, LTC, and BTC via coinbase for the first few months of my trading, until I found out that GDAX is so much cheaper and easier to use.

    So I have records in CSV format from both exchanges, similarly, cointracking.info couldn't seem to reconcile (whether using CSV imports or API data) my various transfers from coinbase to GDAX for my day trade attempts and from GDAX to coinbase after purchasing, and before transfer to a hard wallet. So it interpreted these transfers as "sales."

    I've also sent a handful of ETH to binance to put into various alts (which are all currently down). I recently day traded a bit with BTC while it was falling predictably down and increased my holdings by .05 or so. I wasn't thinking, and now realize that this effectively "realized" my gains on part of my BTC that I had been buying since early August. I repeated this process quite a few times, buying and selling the same sum of BTC.

    • However, what I don't understand is how one is supposed to "pair" or decide which portion of BTC they realize when they sell. Because I bought BTC all the way up from around 3 K and if I technically realized the gains from some BTC I bought at 9 or 9.5 K during my trading / realizing, then the tax I owe would be a lot less than the sale of BTC bought below 5, etc. Is this discretionary - I know there's means to I.D. specific coins, but when I sold it was certainly a varied mixture of *hundreds of different small purchases.

    • I'm also having problem even using the GDAX CSV of sale records, because of some recent day trading, my technical cost includes duplicated "re-buys" of day traded coins, so it thinks I spent like 7 times what I really did, when in reality I was buying / selling the same bundle of coin / coin fractions.

    • With my limited understanding of taxes (recent college grad with no job yet) I'm hoping that for some of the day trading, it will at least only be the first (of a handful of buys and sells with the same coins) that are realized to cause any substantial tax costs, as once I sell and re-buy once, my basis is now much higher, and given that I was selling and buying in the same general price range of BTC (and other coins) the spread / difference would be comparably minimal, so it's not like it takes the same 25% or whatever percent each time I make a trade, right?

    • Lastly, does anyone know how capital gains from conventional stock portfolios affect your tax bracket? I may have read that some people qualify for 0% tax on long term gains if they have no job, and meet a few other variables. I currently have no earned income, but do have a relatively large stock portfolio which I oversee with a family member, the markets done well this year, but to my knowledge none of this large and varied volume of stocks are ever sold / realized, they are just being "hodled" for lack of a better word, as many do in traditional investing.

    • Having acted out of greed / opportunity and naivete (thinking I was helping myself + making money by buying before a dip and buying back, I will never day trade again. I only hope that these taxable events do not eat up a huge fraction of my gains, which I have worked hard to accumulate while working diligently to learn the ropes of crypto buying and research. I'm not asking for sympathy, as I have it better than many, but I do seek information and want to have some general questions answered before I go back with a giant excel file to bring to my family friend, so I can ensure the information is accurate, etc.

    I luckily have a family friend who helps do my parents taxes in exchange for dinners and out of generosity. I approached him with questions about how to "track" my gains off of ETH into binance alt coins, as the price of ETH shifts constantly, and we ended up talking taxes. He asked me to chart every transaction - volume, price, date, fee, coin, etc. in excel - I had been doing this fairly well for months, and think that combining the coinbase and GDAX CSV files for each 3 coins might work, but it's so much data I'm very stressed - and equally pissed if my day trading stupidity (which earned me 500 dollars) ends up costing me 3 K in taxes.

    I know this was a lot of varied questions, and I'm happy to re-format in more palatable bullet points, but if anyone is willing to answer any of the above confusions I would be very thankful and would find a way to give thanks

    Thanks for your time - a concerned / born again hodler

    submitted by /u/throwaway929892988
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    Newbie where and how to start?

    Posted: 25 Dec 2017 04:47 AM PST

    Hello All, I'm just new to all this and I would really appreciate some guidness and hints on where and how to start. Trading short term or just buying and keep it for a huge increase? Any recommended platform that supports undeveloped countries (Lebanon)? Should I work on multiple platforms? Is mining still an option (not necessarly for bitcoins, maybe another currency that will shine soon)? Sorry for asking all these questions, but I really like to learn and understand..

    Thanks

    submitted by /u/trksab
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    How has nobody successfully arbitraged KRW trading markets yet? They've been consistently trading at a 30% premium for weeks now. BCH on poloniex = $2646 USD, BCH on bithumb = $3,646 USD.

    Posted: 24 Dec 2017 08:28 PM PST

    Those are live quotes from the time of posting that I just provided from livecoinwatch.com

    I just can't wrap my head around how this continues.

    Is south korea going through an inflationary/monetary crisis of some kind that I am unaware of?

    submitted by /u/grumpyThrifter
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    Is Ally friendly with large Coinbase/Gdax transactions?

    Posted: 24 Dec 2017 09:48 PM PST

    I've been reading a lot of threads lately about banks refusing to do business with Bitcoins like BofA, Wells and certain credit union banks. Does anyone have info on Ally? I know their brokerage arm recently planned on introducing cme bitcoin futures, only to cancel it 4 days ago.

    submitted by /u/tnap4
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    Why can't I set a limit order to close a margin position?

    Posted: 24 Dec 2017 11:38 PM PST

    I used to be able to do this on the stock market when I was younger. If I had 10 coins leveraged 2.5x, to 25 coins, and they were in a long position, I could set an order to sell 25 coins at a certain price and it would close that position. Same with a short, I could set a buy order and it would close my short position. How do I do this? (I'm on coinigy and poloniex).

    Thanks

    submitted by /u/airy52
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    what is the potential punishment for trading on non us exchange as a us resident

    Posted: 24 Dec 2017 10:32 AM PST

    Hey Im getting ready for tax season and trying to figure things out.

    One issue im running into is trading on bitmex and bitfinex. I would like to be as honest as possible, but Im worried if I claim money I made on these sites there could be repercussions.

    Does anyone have some insight on this? Should I just claim a zero cost basis and pay full short term on it and not say where I got it?

    My deepest fear. Out of experience of being really fucked by the government in the past. Is that they will just confiscate it all or something.

    I want to pay my taxes. I dont want to be screwed because I traded on a non US exchange.

    So what are the potential punishments?

    submitted by /u/maxpainpays
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    New Community - Altcoin Beginners - Community Resource For Traders New To Alternative Cryptocurrencies

    Posted: 24 Dec 2017 12:44 PM PST

    Hi Guys,

    I made a new community for traders new to alternative cryptocurrencies. This community is intended to be a learning resource to make investing more accessible to the retail investor. We're looking for some help and some eyes, take a look and stay a while!

    https://www.reddit.com/r/AltcoinBeginners/

    Thanks!

    submitted by /u/smokingjaycutler
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    Gemini stop loss order?

    Posted: 24 Dec 2017 03:09 PM PST

    I know this option isn't available on the website, is there any way for me to be able to set this up?

    submitted by /u/ZMush
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    Historical order book data?

    Posted: 24 Dec 2017 02:38 PM PST

    Hi, Anyone know where I can get historical order book and trade data for past few months for BTC, ETH? Specifically interested in Poloniex, Bitrex and Kraken, It's hard to find and I know I can get it myself from the exchanges by streaming it, but I can't go back in time! I can grab trade data from coinigy, but can't seem to find order book data there. Also, I've seen places where it's paid (cryproiq (not live yet) and Kaiko, but it's pricey!

    Thanks

    submitted by /u/no-more-9-5
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