Hey guys. Im planning to trade on bittrex. Thus i found out you need to use bitcoin to trade for altcoins. I had thought you could use usd but they dont seem to allow that.


Someone posted in a forum who is an accountant and knows about btc and he mentions even if you do trade on bittrex and do day trading with these coins, you do not pay any tax unless you turn those bitcoin or altcoins into fiat. Can many people here confirm this statement is true or false?


At first i had thought if you do trading on bittrex, well say you want to buy a coin like lisk. Say you buy 1000 shares of it for 5 dollars. Then you sell it when it hits 6 dollars so you make 1000 dollar profit minus fees etc. But the thing is you are using btc so your profit will be in btc. However if you dont cash your btc into fiat, does that mean you dont have to pay any taxes?


Thus you only pay taxes once you cash out your btc or altcoins?


Because if this is true wouldnt it mean someone could turn their few btc into a lot of btc before they pay taxes when they turn it into fiat?

Hey all. I will be using bittrex to do trades later on. Can someone here tell me if the math im using is right here assuming this would be a trade i would do on bittrex?



For example, lets pretend i send 2 btc to bittrex so i have around 9270 usd in bittrex. It shows 4635 as last price of btc on bittrex. But this doesn't matter since u are not using usd.


Then i would buy say 1000 shares of lisk for example. Lisk is 0.00158977 btc now on the last price so its 7.36 usd. So let say i buy 1000 of them. So that means i pay around 18.40 usd fee so 0.00022 btc fee. So that means my 2btc balance after buying 1000 shares of lisk would be 2 btc - 1.58977 btc - 0.00022 btc fee = 0.41001 btc right?


Can someone tell me if my math is correct?


Then let say lisk goes up to 0.00218977 btc. So the price went up from 7.36 usd to 10.14 usd. Im just curious but do you traders when you look at price.. do you look at the price in terms of usd on coinmarketcap or always at bittrex to see the 0.002 btc amount etc?


Now let i want to sell all the lisk for btc for profit. So when i sell all 1000 lisk, i would receive around 2.18977 btc - 0.005474225 btc fee = 2.184295775 btc?
Thus now my bittrex btc balance is 2.184295775 + 0.41001 btc = 2.594305775 btc?


So this would be a 0.594305775 btc profit doing this trade which would be around 2754.82 usd profit right? Can someone here check my math on this if i did all the calculations correctly?

Well at least you used nice round numbers for your hypothetical.

I thought Mcafee was in jail for rapping some chick. Then killing a dude in some Latin country.

So maybe invest 2 ETH instead of 1?

On the tax topic - https://www.ethnews.com/lawmakers-of...ss-act-of-2017

Full Text - https://www.scribd.com/document/3582...dium=affiliate

Transactions under $600 wont trigger a capital gain.

So if I buy $700 of coffee throughout the year from starbucks with my monaco visa card, I'll trigger a capital gain? Assume we bought btc years ago.

do all US marketplaces now collect personal info for taxes? Isnt the personal info component part of the sell for crypto?

What coins are the best up and coming?

Anyone here big on ARK? Is it a good longterm hold? I got into the game 2 days ago with ETH and thinking about spreading it out a bit into ARK/IOTA

Do you realize just how much ARK is trying to do? e.g. Data storage it is competing with Sia, it's also competing with ETH..., and many other specialist coins with teams focused on just one task. The devs for ARK have to make it perform 6 tasks, and link them all together in an attractive package. It's certainly playing big. A big gamble, just not sure it is a gamble with much potential upside now that ARK worth a quarter billion dollars

I tried to create my own thread for this and got in trouble.

My name is Nick Potts, the Co-founder of ScriptDrop. We recently announced our token sale and I wanted to pass along our site and white paper to you.

Site:*https://www.scriptdrop.io
White Paper:*https://www.scriptdrop.io/assets/scr...hite-paper.pdf

I guess you will be competing with Patientory.

Not exactly. They reside on the EHR/Medical Side.

Our data derives and is stored on the pharmacy side. We also have two operational products and we're cash-flow positive.

We just signed a deal with a national pharmacy chain to take over delivery for them. That expedites us building out the patient network.

What's the deal with IOTA? It sounds great on paper. Why can't I seem to find it in any USA friendly coin exchanges?

Edgeless casino is about to hit the floor. Price is still good atm, but is rising atm:

https://medium.com/@VerthagOG/edgele...w-d3017f648bf7

Whats interesting is that users have to buy edg tokens in order to gamble... meaning the price can only go up if i figured out correctly. Price currently around 90 cents

Life graph btw:

https://bittrex.com/Market/Index?MarketName=BTC-EDG

Probably Bittrex will be the first US exchange to list IOTA since they list so many coins compared to anybody else in the US. It will happen eventually. Having to deal with that BCC fork slowed the exchanges coin adoption listing rate down, I think. For now, US buyers can still get IOTA on Bitfinex by using BTC.

The iota chain apparently hasn't been easy for other exchanges to implement. Bittrex and binance are supposedly "working on it"

So you ico instead of a traditional investment round? And why do you need a blockchain to implement the features specified in your deck? Sorry but this seems like a cash grab.

Thinking about dabbling some into the alts/pump and dump ****coins while they're selling off hard.
Currently hold ETH/BTC/LTC in that order.
I've seen Ripple mentioned frequently in these threads...can anyone provide the rundown on it / its thesis? It has gotten hammered recently along with everything else obviously.

https://jesuscoin.network/

A+ whitepaper

Lol Ltc

I don't believe in the team

Gotta have faith

ripple is (VERY!) basically a CENTRALIZED solution for banks/financial institutions.
Some banks in the asia region are showing intrest/are using it.

it goes in to all the decentralized stuff blockchain is meant for.
But given that banks e.d. are showing intrest it could be a good investment.

I do myself have some ripple because I believe it will make a profit due to banks getting involved.
I do not believe its going to be a wide adopted solution for consumers.

As the cool kids would say, It will probably not MOON but will make a profit.
It's not a pump and dump coin, it should be held for medium to long term.

Look at the prices or BTC/Coin at the party you are doing your trading because this is what you will get regardless what coinmarketcap says...

So, use coinmarketcap for actuals, use your trading site/software/party for there figures because that's what you would get.
Little tip: when using coinmarketcap use the BTC view and not the USD view.

And for your hypothetical: is basic math.
you buy for x with fee y.
you sell for x with fee y.

IOTA is not a standard coin as in the technology used (Tangle).
Exchanges need to make changes to get it listed and IOTA is simply not interesting enough for other exchanges to get it listed.

There are some exchanges busy getting it listed.

Official awnser from one of the co-founders on this question:
Whether it is difficult will depend on an exchange's architecture, but it certainly is quite different to traditional blockchains.

The easiest reason for this is that you yourself are responsible for getting your transactions confirmed and can't pay a miner to do Proof of Work for you as is the case for traditional blockchains (although somebody could certainly offer this as a service even on IOTA!).

Also there is more complexity with regard to managing all your addresses & seeds given that you can't reuse an address once you've spent from it. So an exchange always needs to sweep tokens from deposit addresses, manage the different addresses (and associated token balances) and make sure that withdrawals confirm.