Bitconnect YouTubers Headed To Court: Prison Time? / Coinbase's New Tax Tools / BitPay Adds BCH / !
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Coinbase put out a status update on their blog detailing some changes/updates they’re making to their platform here. One of the things mentioned is a new tax tool to help make it easier for customers to report their cryptocurrency trades for taxes. So far there aren’t a lot of details on this. Hopefully it applies to GDAX as well. Interestingly, they explicitly mention they hope to make it easier for people using multiple exchanges or transferring a lot of coins to use the tool, so maybe they’ll have a nice import feature. Should be many more details on this soon.
I’m actually disgusted at services like bitcoin.tax and cointracking.info for hiking their rates up so much from last year. Last year I used bitcoin.tax and paid a flat fee of something like $20 and ran into minimal issues. This year, for the same service, I would have to pay $150, just because I have a lot of trades. The computational intensity to calculate gain on 10 trades vs 10000 trades is minimal in either case, so the hike in price is completely and utterly unjustified.
With that said, I’ve resorted to building my own tax calculation tool. Once complete, I intend on making it open-source, so others without the means to do the same don’t get scammed out of money for tools that are mediocre anyway.
This is the first I've seen you comment directly on Bitconnect and the Youtubers. You should try to interview Craig Grant. He was the first person I've seen mention Bitconnect and pretty much made Bitconnect popular. Now all of his Steemit posts are flagged to oblivion (understandable) but we don't get to hear the promoter side of the story. If Bitconnect goes to court and they determine 1) Bitconnect BCC is a security and 2) promoters were illegally promoting a security, this could have lasting implications for the entire crypto space. There is potential for a chilling effect but I do not blame Bitconnect for that because really the SEC was planning to crack down since before Bitconnect.
A lot will depend on how the promoters will be punished. Will they get jail time? Will they pay a fine? Or are they completely innocent?
well good to see you back from your tour and more good to watch your video to talk on crypto and give your reviews specially bitcoincash coinbase is new information for me i still not try coibase and have no idea about there rules and fees thanx for share this news hope i will try coinbse and your information will help me
and also the other side the bitconnect i think now people should forget it and because now its very hard to get back thier money and if i we think if people look to courts for this big scam how they apply in court to because i thiknk crypto is not legal and there is no any law about crypto in many countries but how the promoters will get punish, was they promote it illegally or some other reasons?
always say you thanx for give me good and helpfull knowledge about crypto world and really i get many new informations in your daily crypto videos also from your interviews @omar
its a big issue if the tax and fees are increasing day by day on crypto and it will finish the crypto freedom because the first we see better as compare to those bankers because the crypto fees is only zero or not any more who we think on it but if we will face these issues on crypto taxes it will be hard to accept it for all crypto members coinbase is good exchange and hope they will make it good if they will help traders with the minor fees and hope these tax tools will give good effects on tradings
The Che t-shirt showing that mass murderer of long haired 15 year olds who listened to rock music as a skull is a great background!
Love to see real libertarians in crypto land who understand a little bit of history and not the usual dumbos out there who think Che Guevara was some sort of capitalist rock star, when in fact he shot people who listened to the Beatles and sunk the Cuban economy to the bottom of the third world.
regards Crypto! thanks for all time
Bitconnect was a scam from the word go...
In actual fact so was BTCGlobal...
When you have to wait for your initial investment and get rewarded with compounded interest, then ask yourself this; where will the money come from to pay me?
Answer - from people joining the system last and the dependance of referrals.
My advice is that if it is too good to be true then it probably is, be warned that those scams are not the first and will definitely not be the last of its kind.
The Che t-shirt showing that mass murderer of long haired 15 year olds who listened to rock music as a skull is a great background!
Love to see real libertarians in crypto land who understand a little bit of history and not the usual dumbos out there who think Che Guevara was some sort of capitalist rock star, when in fact he shot people who listened to the Beatles and sunk the Cuban economy to the bottom of the third world.
regards Crypto!
This is great news of crypto.
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Thank you to all Crypt0's News followers! awesome introduction into the world of cryptocurrencies . everything from the presentation to content as well as setup , simply excellent . you clearly know your stuff . thank you very much .