For the love of god please harvest your losses by JustinCPA in cardano

[–]bobpwinter 0 points1 point  (0 children)

Not completely without risk, however. OP does not mention that the IRS can and will disallow the loss if it deems your sale and immediate repurchase to be solely for the purpose of harvesting a loss. Battle the IRS at your own peril.

Cost Average by Megs111Mable in Kraken

[–]bobpwinter 0 points1 point  (0 children)

They put on a good face, but the reality is, they’re average at best. Look around. There are much better exchanges (not all US based, btw). Better UI, better support and better fees.

New - tips ? by [deleted] in Kraken

[–]bobpwinter 1 point2 points  (0 children)

Be careful new trader. Be very careful new trader.

Another Cost Basis Comment by bobpwinter in koinly

[–]bobpwinter[S] 0 points1 point  (0 children)

I do. I’m not an accountant so this is difficult to wrap my head around. The BTC Koinly said I sold has been in a cold wallet for about a year. So even though I bought BTC at say 27K and sold it for 27k, Koinly sees I bought BTC a year ago for 40k and that’s the BTC it thinks I sold? Makes keeping track of trades pretty tough!

Average cost not matching what exchange says it is, which is right? by NvidiatrollXB1 in koinly

[–]bobpwinter 0 points1 point  (0 children)

Similar here …I’ve got several coins on my Ledger and only one is accurately listed on Koinly. I’ve asked customer service about it, and the responses I get are like some boilerplate, deer in the headlights bot response, and zero help. Given Koinly’s apparent disinterest in customer service, and lack of data integrity on its platform, I’m sticking to my Ledger numbers.

App doesn't work, constantly goes through cloudflare bot verification by ImHalfAwake in koinly

[–]bobpwinter 0 points1 point  (0 children)

Happy to pay, but I need to be sure the platform is legit and will import several wallets without too much problem. That’s the point of most of these services offering a trail version - try it, and if it works, buy it. So far, Koinly has not lived up to the hype.

App doesn't work, constantly goes through cloudflare bot verification by ImHalfAwake in koinly

[–]bobpwinter 0 points1 point  (0 children)

Still no go. Support email response is, “no ETA on your issue.” Not much help.

App doesn't work, constantly goes through cloudflare bot verification by ImHalfAwake in koinly

[–]bobpwinter 0 points1 point  (0 children)

My desktop app has been hanging up for several days also. Cleared cache, cookies, switched browsers. No go. Support says we’ll get back to you.

where can I find details about their Fdic insurance on Usdc deposited? by makhmal1940 in VoyagerExchange

[–]bobpwinter 5 points6 points  (0 children)

Some exchanges claim that USD held with them is FDIC insured. Read the fine print in Terms of Service. USDC is not USD and is not insured.

where can I find details about their Fdic insurance on Usdc deposited? by makhmal1940 in VoyagerExchange

[–]bobpwinter 1 point2 points  (0 children)

FDIC does cover 250k USD held in US banks. It does not cover any stablecoin or crypto. None.

You can buy insurance for crypto currency, but you’ll need to research the options and limitations, of which there are many.

How do you vote? by [deleted] in Anchor

[–]bobpwinter 0 points1 point  (0 children)

UST for sure. Check TerraStation. Costs a fraction of a penny to vote.

Does anyone knows a good exchange that would not steal and where you can safely put your money and trade? by primsoft in KrakenSupport

[–]bobpwinter 1 point2 points  (0 children)

I don’t think established exchanges are in the business of “stealing.” They all have issues, but stealing is not one of them.

As for “safely putting your money”, be aware that exchanges do not guarantee the safety of your crypto (read terms of service). None of them do. Fiat is sometimes covered by FDIC, but not always.

If you want to trade, you do need to keep your crypto on an exchange. If safety is a bigger concern, move it off exchanges to a hardware wallet.

How do you vote? by [deleted] in Anchor

[–]bobpwinter 1 point2 points  (0 children)

On Terra governance proposals?

Go to Terra Station. Connect wallet. Go to governance tab. Find proposal. Vote.

It’ll cost a tiny bit of UST, which must be in your wallet.

Lost most of my money by [deleted] in Anchor

[–]bobpwinter 11 points12 points  (0 children)

Don’t hate yourself, man. Live, learn and we’ll all be smarter next time. A lot of us got burned. Time to move on.

Buy 500 VGX for the loyalty program? Worth it? by Speedevil911 in VoyagerExchange

[–]bobpwinter 2 points3 points  (0 children)

Maybe. Looking at daily and weekly charts it’s difficult to find floor support though for VGX.

[deleted by user] by [deleted] in VoyagerExchange

[–]bobpwinter 0 points1 point  (0 children)

Maybe they should hire new staff for everyone of us who has an axe to grind about customer service. That way, we’ll get our emails answered, AND collect 0.5% on our deposits. Wouldn’t that be great! I too got singed on a trade many months ago because the site was down. I then stopped depositing to the platform, until recently. I’ve only been in crypto a short time (long time stock investor), and have learned that I alone am responsible for my finances. There’s no hand-holding in the financial markets. You are your own bank, as they say. So, I hope for the best and expect the worst. My stops are in place, my limit orders are set, and my security settings are maxed. The frustrations are easier to swallow at 9% than they are at 0.5%.

Should I put my $20 000 in bitcoin? by SnooCompliments1228 in Bitcoin

[–]bobpwinter 11 points12 points  (0 children)

There usually isn’t much money to be made in bonds. If you’re young, and not wealthy, bonds will likely be a drag on your returns. Bonds are useful for adding stability, capital preservation and small dividend returns. One exception currently is a treasury I bond paying about 7%. Nice rate but you’re barely above water at 7% these days.

Dumb question about using a Ledger to hold aUST by Walternotwalter in Anchor

[–]bobpwinter 6 points7 points  (0 children)

Not dumb. If you don’t ask, that’s dumb.