so the first step is to determine capital gains or losses for each position in your portfolio by subtracting the current price from the cost. take into account all your crypto holdings - not only those that are in the same wallet or on the same exchange. use the FIFO method. it minimizes the risk of short-term capital gains. In particular, you first sell the oldest positions, which means that you are more likely to receive long-term capital gains. maybe speak with your accountant to learn more about it. and last step is selling the position at a loss, and optionally, repurchasing the position to maintain the portfolio’s asset allocation.

this may be the opinion of a typical layman who is not particularly interested in technology, bitcoin, and cryptocurrencies in general. And if an ordinary person has such an opinion, then this is precisely the problem of bitcoin.

At first I thought that the author of this post wrote this text immediately after the closure of the Silk Road

On the second point, who do you mean by most? If the majority of countries, then yes I agree that so far it has not been accepted by most governments. If you are talking about most people, then this is also not critical, because gradually more and more people are interested in bitcoin.

I don’t notice problems with speed, cost of transactions, and even more so with BTC recognition - almost all my friends know what it is, some use it, others don’t.

yes, a huge number of people hold and trade the first crypto, but only the whales “dictate the rules”. By all means, they will hype the BTC and promote it to the masses.

And with what user base should bitcoin grow? Everyone knows about Bitcoin: the Internet, television, newspapers ... everywhere from time to time, people get information about Bitcoin, and not about other cryptocurrencies. Those who wanted to understand for themselves "what is it" - understood a long time ago. Some read and passed, others accepted the first cryptocurrency as something special and unique.

You are all wrong, the main bitcoin problem is low transactional speed.

Facebook's Libra payment system could become a serious competitor for Bitcoin. This will happen if the US authorities legalize the company’s token.

XRP, like almost all coins that have gone through the ICO stage, should not exist. it has one specific purpose: enriching the owners of Ripple.

If you decide to invest in cryptocurrency, you should buy Bitcoin, because it is likely that it will be the only one to survive survive. altcoins can significantly fall in price

In 2020, institutional investors will go beyond testing and create the main demand for cryptocurrencies. in addition to institutional investors, millennials are expected to appear on the cryptocurrency market. the younger generation is increasingly interested in digital money with great interest and approval.

bitcoin could go down to $ 6,200 without the influence of the stock market if the exchange rate fails to gain a foothold above the resistance level of $ 6900. Then the price will begin to fall.

there is a risk that the collapse in the digital asset market may recur. This is likely to happen if the S&P 500 index does not overcome the indicated resistance and returns to a fall, as experts predict.

Another possible reason is the fluctuation of the dollar. The US currency is considered one of the safest assets, which is why investors transfer capital to it during market uncertainties.

The current growth in the bear market is reminiscent of what happened in 2008. Presumably, the stock market will grow to a reversal, which, if it happens, will drag the S&P 500 index to new lows

Powell urged lawmakers to approve new fiscal stimulus measures at a press conference. They are necessary in order to protect the US economy from the consequences of the crisis caused by the coronavirus and accelerate the process of its recovery after the pandemic. (as the head of the Fed explained)

over the past three days Binance and Coinbase have shown record volumes of deals. This suggests that the current rise in the price of bitcoin was caused by real demand from retail investors, and not as a result of manipulation.

I got like hundreds of transactions on dozens of exchanges. and I really dont want to waste my time on taxes.

actually it looks like they do have fully supported plans where a CPA or a tax preparer will do everything for you. You can buy it as an additional service on top of your regular plan. The nice thing that this CPA service will include not only your crypto reconciliation but your full tax return.