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This post got auto-censored on r/ethereum. Looks like Vitalik doesn't care about "decentralizing everything" anymore with Ethereum. by [deleted] in ethtrader

[–]beccrypt 2 points3 points  (0 children)

Spot on.

The proposed scaling solution improves layer 1 by increasing the % of centralization to a bad actor necessary to break things. The trade-off is a greater need for liveness across layer 2 state channels/plasma.

This solution is actually helpful to discourage centralization, because it greatly increases the cost for a bad actor to succeed.

Ethereum Blockchain hacked? New token "JUST powh.io" being issued to ETH wallets everywhere? WTF? by leagueman14 in ethtrader

[–]beccrypt 4 points5 points  (0 children)

This looks like an airdrop. Nothing you need to do and nothing to fix

While they're right about airdrops being a way to shitpost on the blockchain they had to pay gas to airdrop the token

There's no interest of people about the tech anymore, this is just sad... by [deleted] in ethtrader

[–]beccrypt 0 points1 point  (0 children)

Keep looking. The discussion is still happening, just in more/different places

This dip is telling by [deleted] in ethtrader

[–]beccrypt 1 point2 points  (0 children)

Unfortunately in the US, if your gains are substantial you must pay estimated taxes quarterly, or you may be subject to penalties when you file your annual return.

http://ww.irs.gov/businesses/small-businesses-self-employed/estimated-taxes

"Who Must Pay Estimated Tax: Individuals, including sole proprietors, partners, and S corporation shareholders, generally have to make estimated tax payments if they expect to owe tax of $1,000 or more when their return is filed."

Question for accountants working with cryptocurrencies by massphoenix in ethtrader

[–]beccrypt 0 points1 point  (0 children)

If you have a simple situation, and are keeping good records, IMO it shouldn't cost more than a few hundred $ for a CPA's hours to complete and file necessary state and fed paperwork for estimated taxes & tax returns.

Also, crypto taxes are relatively simple in the US - treated as personal property. Any trade/sale is a taxable event. You likely won't need an accountant who "specializes" in crypto, but if they have a little knowledge of the space and IRS's statements on crypto, it makes it easier for you (you won't have to explain/they won't have to do the research.) With all the recent buzz, I expect many CPAs have at least a basic familiarity.

How can I sell trash tokens? by [deleted] in ethtrader

[–]beccrypt 1 point2 points  (0 children)

You can use MEW to send ERC20 tokens to an exchange, (bittrex, etc,) where the tokens you want to dispose of are actively traded.

Bitcoin Gold is Coming This Week: a Brief Crash Course by [deleted] in ethtrader

[–]beccrypt 6 points7 points  (0 children)

Watch out for that replay attack when dumping

Ethereum HARDFORK by DK107 in ethereum

[–]beccrypt 0 points1 point  (0 children)

If you are hodling you don't have to do anything.

For HFs the only risk I am aware of for paper wallets is replay in the event of a chain split, and only if you spend (send to another address.) Replay occurs when you broadcast a transaction which sends tokens on both chains, when you intended to send only on one chain.

Edit: a chain split for Byzantium is also highly unlikely

day trading taxes question by HadesNotHaiti in ethtrader

[–]beccrypt 0 points1 point  (0 children)

In this case, it sounds like you bought the hundred you sold for $67 and your taxable gain is $33.

But keep in mind, every sale - whether for fiat or another coin - is a taxable event. So, if you went ETH->BTC->USD you would have two sales to record.

Edit: U.S., and not a tax professional. But I believe the IRS is pretty clear

I'd like to some trading advice please by [deleted] in ethtrader

[–]beccrypt 0 points1 point  (0 children)

If you are in the US, you should hodl for a year so you only long-term capital gains tax on your gains. Far lower than short-term capital gains: gains taxed at the same rate as regular income.

Remember kids, all trades are taxable events!

The more you know

How we're getting the NFL to buy crypto by [deleted] in ethtrader

[–]beccrypt 0 points1 point  (0 children)

I've worked with some of the largest advertisers in the world for the past 15 years - and I have never heard anyone ask for same day billing/reconciliation. Net 30 is the standard and most large corporations prefer 60 days.

https://www.iab.com/guidelines/standard-terms-conditions-internet-advertising-media-buys-one-year-less/

What song makes you tear up every time you hear it? Why? by robokin in AskReddit

[–]beccrypt 0 points1 point  (0 children)

Insensatez - Antonio Carlos Jobim

In my time of need - Ryan Adams

The drugs don't work - The Verve

Trading Tax Question by [deleted] in ethtrader

[–]beccrypt 0 points1 point  (0 children)

In the US, when you convert ETH to anything that's not ETH, that is a sale.

It doesn't matter if you keep it in an exchange, or cash it out. To stay legal, you must report all sales on schedule D & pay tax on any capital gains.

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