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    Home Unlabelled Cryptocurrency I'm a crypto tax attorney. AMA today, Jan. 27, starting at 10 am EST!

    Cryptocurrency I'm a crypto tax attorney. AMA today, Jan. 27, starting at 10 am EST!

    January 27, 2021

    Cryptocurrency I'm a crypto tax attorney. AMA today, Jan. 27, starting at 10 am EST!

    I'm a crypto tax attorney. AMA today, Jan. 27, starting at 10 am EST!

    Posted: 27 Jan 2021 04:00 AM PST

    I'm a crypto tax attorney. AMA today, Jan. 27, starting at 10 am EST!

    Hi Reddit, I'm Andrew Gordon, a tax attorney & CPA who's been practicing cryptocurrency tax law since 2014. I help investors with their tax returns, audit representation, and tax debt resolution, as well as helping businesses adopt and report crypto.

    You may have seen or heard that the 2020 tax return has a yes-or-no question about cryptocurrency on the very front page. This is just one of SEVERAL measures the IRS has taken in recent years to ensure crypto income is accurately reported.

    But crypto tax returns can get really complicated. That's why I'm here. Ask me anything about cryptocurrency tax law in the United States!

    https://preview.redd.it/vwomwn327vd61.jpg?width=4032&format=pjpg&auto=webp&s=f797c0f2687c806b69e7637fe7566f67dd5db28d

    Disclaimer: Information contained in this post and in the comments is intended for general informational and educational purposes and does not constitute legal advice. Contact a tax attorney for legal advice regarding your specific situation.

    submitted by /u/Gordon_Law
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    Daily Discussion - January 27, 2021 (GMT+0)

    Posted: 26 Jan 2021 04:00 PM PST

    Welcome to the Daily Discussion. Please read the disclaimer, guidelines, and rules before participating.

    Disclaimer:

    Though karma rules still apply, moderation is less stringent on this thread than on the rest of the sub. Therefore, consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here.

    Please be careful about what information you share and the actions you take. Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams.

    Rules:

    • All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect.
    • Discussion topics must be related to cryptocurrency.
    • Behave with civility and politeness. Do not use offensive, racist or homophobic language.
    • Comments will be sorted by newest first.

    Useful Links:

    submitted by /u/AutoModerator
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    Bitcoin Advocate Chamath Palihapitiya is Running for California Governor

    Posted: 26 Jan 2021 10:07 AM PST

    Cathie Wood: Bitcoin ETF Approval Unlikely Until Market Cap Rises to About $2T. Challenged Accepted.

    Posted: 26 Jan 2021 06:26 PM PST

    Signal Is Experimenting With Stellar-Based Cryptocurrency: Report

    Posted: 26 Jan 2021 04:53 AM PST

    Proposal to Create and Pin a ‘Beginner’s Guide to Cryptos’ in r/Cryptocurrency

    Posted: 26 Jan 2021 11:48 AM PST

    I continue to see the same posts over and over asking how to get started with cryptos.

    Questions like: "I'm new to the crypto space"..

    Where do I buy coins?

    What's the process to get started?

    What are the best exchanges to buy, sell, trade?

    Are my coins safe?

    What's the best security protocol?

    Should I get a hardware wallet?

    HELP! Yada yada..

    With the increased traffic and number of subscribers in this sub, we should have a comprehensive "Beginner's Guide" that has all the important information needed to start investing in cryptos the right way. There are "Beginner Resources" in the daily, but it is constantly overlooked and it needs to be pinned to the front page. Through this initiative, we can reduce spam and help newbies join the crypto word. Newbies need to know the most trustworthy exchanges, the importance of 2FA, and everything else that goes along with investing in cryptocurrency! Let's help our growing community by providing much needed resources for all! Let's uphold the great reputation of r/Cryptocurrency and give back to the community. We all know Reddit is the best source of information anyway!

    tldr; I propose pinning to the front page a "Beginner's Guide to Cryptos" that will address in detail everything a beginner will need to know to start investing.

    submitted by /u/walkinthepark01
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    Advice from someone who got "rekt": Stay away from trading, do your own research and INVEST only

    Posted: 27 Jan 2021 01:14 AM PST

    You are not "late" and even if you are you can't lose much by simply investing. You can always sell your assets.

    If you start trading the chances are you will have nothing to sell at the end of the month. Treat trading like gambling and if you start on that path only play with 1% of your gambling balance.

    submitted by /u/done8989
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    Major Tesla Investor Predicts Tech Companies Will Buy Bitcoin

    Posted: 26 Jan 2021 06:54 PM PST

    EMURGO, Ergo, and IOHK announce AgeUSD, the first stablecoin that will come to Cardano | Headlines | News | CoinMarketCap

    Posted: 27 Jan 2021 12:04 AM PST

    How Does Nano Handle Spam?

    Posted: 26 Jan 2021 07:41 PM PST

    Ethereum's Road to $2K: 3 Reasons to Be Bullish

    Posted: 26 Jan 2021 09:15 PM PST

    American Cancer Society Starts 'Crypto Only' Donation Fund

    Posted: 26 Jan 2021 06:50 PM PST

    A Deep Dive Into Cardano | CoinMarketCap

    Posted: 27 Jan 2021 12:15 AM PST

    Scam warning for those of us who are new to cryptocurrencies

    Posted: 26 Jan 2021 02:44 PM PST

    This post is for everyone who is new to the world of cryptocurrencies and perhaps those who aren't as computer or technology savvy.

    Today I randomly received 0.0095 XLM from someone I don't know and upon further inspection I noticed there was a memo telling me of an "Airdrop" on a .net website acting as Stellar. Immediately skeptical, I did what any normal person would do... I went to the website. This website was offering a free limited time "Airdrop" for those with XLM. Upon further investigation this website was only a couple of days old being created on the 24th, supporting an airdrop that supposedly started on the 20th of this month... (Red flag: The event is older than the website supporting it) Comments were also blocked after a couple of unconvincing comments were allowed about how much XLM they were given, most of the links in the page were broken, etc. etc. etc.

    I'm good enough with technology to be dangerous and I could recognize some other things that told me this wasn't legit even though at this point, I needed no further convincing.

    This website was offering me a chance to participate in this "Airdrop", but only if I provided my "private key" in order to be verified.

    This. Should be. YOUR red flag.

    NEVER give your private keys out to anyone fellow noobs!

    I felt compelled to post this now because while I was investigating all of this, I found that I wasn't the only one and that there were similar websites being advertised in people's memos claiming to be Stellar. It also saddens me to know that there are others like myself who may not be the most knowledgeable in this new world and are probably falling victim to these rash of scams. I hope that someday there will be a better means to stop these kind of things, but until then be on guard with your coins and make it a point to research everything for yourselves and from multiple sources.

    To the moon,

    submitted by /u/Shep_Meister
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    Ripple Hit with Yet Another Lawsuit Over Securities Law Violations

    Posted: 26 Jan 2021 11:04 PM PST

    Crypto Crime Fell Sharply to Only 0.3% of All Cryptocurrency Activity in 2020

    Posted: 27 Jan 2021 03:46 AM PST

    Why Your Coin Sucks: Cardano

    Posted: 26 Jan 2021 09:59 AM PST

    Circle enables seamless USDC-USD transfers, providing a bridge from banks to DeFi

    Posted: 26 Jan 2021 08:17 PM PST

    HitBTC is a scam. Why is still listed on major websites like CMC and CoinGecko?

    Posted: 26 Jan 2021 10:50 PM PST

    Seems I have lost money as they don't allow withdrawals. Looking into this more and everyone everywhere is complaining about issues with withdrawals for months now on all social media. Why are they still listed on major websites? CMC even has them as "High" Confidence.

    I think the community needs to step in and demand that they are removed from website listings. Until this happens more people will be tricked and it will dirty the name of the whole crypto movement.

    Edit: As a first step I have completed this feedback form on CMC asking them to change the confidence rating they have for them

    https://support.coinmarketcap.com/hc/en-us/requests/new

    ​

    edit 2: I see now that the Confidence rating on listed coins on CMC is not related to the quality of the exchange but to the confidence of the data displayed.

    submitted by /u/FrozenEternityZA
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    More Institutional Interest: Nasdaq-Traded Marathon Invests $150 Million in Bitcoin

    Posted: 27 Jan 2021 01:13 AM PST

    Altcoin Season booming under the radar?

    Posted: 27 Jan 2021 04:11 AM PST

    Millions Learn About DeFi From Wheel Of Fortune Contestant

    Posted: 26 Jan 2021 06:14 PM PST

    Peter Schiff. Dumb Fuck.

    Posted: 26 Jan 2021 01:47 PM PST

    Recently Peter Schiff bleated you can't buy shit with bitcoin. This is the crap he tweeted 5 days ago:

    'You can't buy much of anything with Bitcoin. You have to sell it first. Then you can buy something with the proceeds. But you can only sell Bitcoin so long as speculators are there to buy. One day there won't be any left.'

    And then you go to his own fucking website here https://schiffgold.com/buy/ and what do you see when you scroll down to the bottom of the page? Fucking right.

    Pay with Cryptocurrency.

    Its got to be a close call whether Peter Schiff or CSW is the dumbest numbnuts in the cryptospace.

    submitted by /u/TheGreatCryptopo
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    Grayscale Adds $2.4 Billion Worth of Crypto in Three Days

    Posted: 26 Jan 2021 06:50 AM PST

    There is a Growing Likelihood We Will See the Dollar Crash Against Bitcoin (again)

    Posted: 27 Jan 2021 12:13 AM PST

    As we all know COVID 19 has made huge dents and dings all over the struggling economy, some of which has drastically effected the ability for some people to pay mortgages. Thus state and federal governments have put a stop on all foreclosures to a date to be determined.

    Just like in the 2008, sub-prime mortgage economy toppling recession there is a huge glut of unforclosed homes awaiting foreclosure, and popping the now extremely over inflated housing market.

    In circuit will be raising energy costs as covid era energy truces dissipate, and a stagnant labor market, whereas many low paying minimum wage jobs will never be refilled post COVID, due mostly to automation, high required wages (US), and businesses lost to the pandemic.

    That is why coming June 2021, gas will skyrocket, mortgage foreclosures will be at their highest ever recorded, and only solid and proven assets will hold their value.

    This is how the Dollar will crash against Bitcoin, Again.

    submitted by /u/Redsald
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    Annual Report SwissBorg

    Posted: 27 Jan 2021 01:32 AM PST

    DeFi Continues Explosive Growth as Markets Remain Flat

    Posted: 27 Jan 2021 04:12 AM PST
    Read more
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