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Showing 20 of 22 results by Sprucemoose78
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Board Service Announcements (Altcoins)
Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
by
Sprucemoose78
on 24/04/2021, 10:23:35 UTC
@Sprucemoose78
It is not yet possible, but we are working on this already. It will be hopefully available later this year to change the calculation methods for the tax years.

Great to hear, and especially that you plan to implement it this year. Thanks for the info.
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Topic
Board Service Announcements (Altcoins)
Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
by
Sprucemoose78
on 23/04/2021, 17:24:19 UTC
Is there an easy way of changing accounting methods when I've already used FIFO in previous tax years. Where I live, I can now choose whatever accounting methods I want (LIFO, HIFO etc), and this year it will matter quite much. Can Cointracking in some way correct for earlier tax years to prevent counting coins twice? If so, how to do so? I also want it to be correct when viewing my "realized and unrealized gains".

Example 2013-2020 FIFO, switch to LIFO or HIFO in 2021, maybe switch back in 2022 etc.
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Topic
Board Service Announcements (Altcoins)
Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
by
Sprucemoose78
on 14/04/2021, 19:38:42 UTC
Quick question on the correct input when transferring FIAT between my bank and a crypto exchange.

I want to transfer EUR from Binance to my Norwegian bank account (currency is NOK). Which one of the following methods are correct:

A) First make a transfer in EUR from Binance (outgoing) to bank (incoming), then make a trade from EUR to NOK using my bank as the exchange (then I will end up with three lines under "Enter coins": A withdrawal, a deposit and a trade).

or

B) Make a withdrawal from Binance in EUR and a deposit in NOK to my bank (resulting in only two lines under "Enter coins": A withdrawal and a deposit)
Post
Topic
Board Service Announcements (Altcoins)
Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
by
Sprucemoose78
on 27/12/2019, 13:35:59 UTC
Thanks! This makes it a bit clearer. Will see what I will need of the PRO features and renew if nescessary.
Post
Topic
Board Service Announcements (Altcoins)
Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
by
Sprucemoose78
on 26/12/2019, 19:56:11 UTC
@Andreas_CoinTracking

Thanks for the reply. However, I still don't quite understand what happens with all my trades. If I understand you correct, the trades I registered when I was a Pro user (up until today) is, in some way "lost" in all future calculations? Meaning these won't be taken into account when creating a tax report? I can still create a tax report now as a free user, but the site states that I'm limited to 100 sales (not total trades?). I have only 101 total trades in 2019, and only 53 of these are sales. But I have plenty of trades from previous years. How are my previously inputted trades (done during my PRO subscription) handled now when I'm downgraded to a free account?
Post
Topic
Board Service Announcements (Altcoins)
Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
by
Sprucemoose78
on 26/12/2019, 10:21:15 UTC
I've had a 2 year subscription that is now run out, and I'm not sure if I need a paid service any more. I won't be doing much trading in the near future, but I'm not really sure how CT will handle all my trades that I've imported during the time I had my paid subscription. I've in excess of 1000 trades imported.

As an example, will the tax-report for 2019 take into account these past trades, or will some be omitted? In 2019 I've performed less than 100 sales in 2019 (which seems to be a limit of the free tax report service). On the app, I can see my total value of all coins, and I can still see the correct amount on the gains page (seems that this calculation takes into account all trades, even the ones exceeding the free limit).

Can some CT developers please clarify what "happens" to my past trades? I don't want to inadvertently generate a tax report that omits a bunch of trades that I'm not aware of.
Post
Topic
Board Service Announcements (Altcoins)
Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
by
Sprucemoose78
on 22/04/2019, 12:19:12 UTC
Does anybody else have a problem with recalculating trades today? Recalculations stops at 100%, but does not refresh or update the page. It also seems that CT doesn't update with real-time prices, and my portofolio value has been stuck at the same value for some hours now. I'm just wondering if there is trouble server-side, or if my account is bugged somehow.
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Topic
Board Mining (Altcoins)
Re: Z9 list of working pools/Fork updates
by
Sprucemoose78
on 14/09/2018, 04:23:09 UTC
ADD TO LIST

Just switched one of my Z9 minis to mining CMM on https://pool.miningspeed.com/
Pool is registering the full hashrate, and seems to be working fine (1 hour in 8 hours in mining for 36 hours straight, no problem).
Currently mining on the EU server (eu.miningspeed.com:2073)
Post
Topic
Board Mining (Altcoins)
Re: Z9 list of working pools/Fork updates
by
Sprucemoose78
on 02/09/2018, 20:24:24 UTC
Are there any multi pools (Autoswitch) ZEC, ZCL, ZEN, CMD, HUSH, BTCP?...  All in one shop?
Cheers
Jay

The only auto-switch pool that I know of is Mining Pool Hub (MPH). I've been mining there for the last weeks, but recently my profit is much lower than what I was calculating through whattomine. MPH offers Equihash mining only for ZEC, ZCL and ZEN with auto-exchange to your preferred coin.
I am currently on MPH, what do you thin the reason for the lower profits are?...as per calculation on WTM?...  Are  you still on MPH?.. Its the only autoswitch pool that i know of ZCL ZEN ZEC

I left MPH yesterday and moved to Flypool. When Nanopool opened today, I switched over to them.
I'm not completely sure why my profits were lower on MPH, but I have some suggestions.

Firstly, it seems that MPH systematically overestimates ZEN value compared to whattomine. So, MPH will choose to mine ZEN more often than it "should".
Secondly, there is an extra fee for auto-exchange, that I use. It's only 0.2%, but it's not zero.
Thirdly, as for all switch-mining, in the time it takes to mine, confirm, transfer and exchange, the price of the coin may have fallen.
Lastly, the switch algorithm itself may be a culprit. MPH seems to continuously check which coin is the most profitable, but it won't switch until it finds a block of whatever it is mining at the moment. I think this is done to offset the penalty imposed due to the PPLNS payout scheme. But it has a serious backside.  If a coin that MPH mines suddenly gets a big difficulty spike, it won't switch until a block is found, no matter what. I've seen my own miners churning away on a high difficulty ZEC for a couple of hours even when ZEC was at the bottom of the whattomine list.
Post
Topic
Board Mining (Altcoins)
Re: Z9 list of working pools/Fork updates
by
Sprucemoose78
on 02/09/2018, 13:58:56 UTC
Are there any multi pools (Autoswitch) ZEC, ZCL, ZEN, CMD, HUSH, BTCP?...  All in one shop?
Cheers
Jay

The only auto-switch pool that I know of is Mining Pool Hub (MPH). I've been mining there for the last weeks, but recently my profit is much lower than what I was calculating through whattomine. MPH offers Equihash mining only for ZEC, ZCL and ZEN with auto-exchange to your preferred coin.
Post
Topic
Board Mining (Altcoins)
Re: Z9 list of working pools/Fork updates
by
Sprucemoose78
on 02/09/2018, 13:28:19 UTC
Nanopool finally add support for ASIC miners on ZEC

https://twitter.com/nanopool_org/status/1035926979156107265



Great news. Just switched my two minis over, and they are hashing away.
FYI, I set the user on the Z9 pool configuration page as follows: ZCASHADDRESS.WORKERNAME/EMAIL

Edit: email recognized correctly using the above user field. Was just now able to change payment threshold.
Post
Topic
Board Mining (Altcoins)
Re: Z9 list of working pools/Fork updates
by
Sprucemoose78
on 04/08/2018, 08:26:07 UTC

Is it possible that your fan had been set the wrong way from the factory? Can you confirm which direction the air flows now after you switched? And how about sound, did it change in any way (especially the pitch)?
Post
Topic
Board Mining (Altcoins)
Re: Z9 list of working pools/Fork updates
by
Sprucemoose78
on 27/06/2018, 07:27:18 UTC
What is the point of using different pools when there is %0 pool fee antpool.? I mean why not Antpool? Anyone using it?
(Genuine question)

Things may be different now, but when I prepared for my Z9, the PPLNS payment method did not work. Any other payment method seems to have a fee. If this has changed, there would of course be no incentive to use any other pool.

EDIT: Anonymous mining also comes to mind as a legitimate reason.
Post
Topic
Board Mining (Altcoins)
Re: Z9 list of working pools/Fork updates
by
Sprucemoose78
on 27/06/2018, 00:30:03 UTC
zcash working on MPH
what URL do you use?
Thanks

us-east.equihash-hub.miningpoolhub.com:20570
brilliant i will give it a go in the morning thank you

maybe not, getting a lot of discarded shares actually.  That normal?  seems I am getting a lot of discarded shares anywhere I try to mine



Discarded shares mean nothing for your overall hashrate. Just ignore that statistics, it's meaningless. Focus on accepted, rejected and stale shares, but most importantly, your poolside hashrate. Mining on Flypool now with 0.4% rejected shares and 0.2% stale shares. Discarded shares are 5x the number of accepted shares, but 6h avg hashrate at 16.9ksol/s poolside just the same.
Post
Topic
Board Mining (Altcoins)
Re: Z9 list of working pools/Fork updates
by
Sprucemoose78
on 26/06/2018, 17:00:40 UTC
I might be not looking right at Flypool help files but what is exactly their setup for ZEC, please? I mean, is it just:

Server   asia1-zcash.flypool.org   eu1-zcash.flypool.org   us1-zcash.flypool.org
Stratum Port   3333
Alt. Stratum Port   13333
Encrypted Stratum Portt   3443 (Encrypted stratum is currently only supported by the Claymore and Optiminer miner)
Username   Your Zcash Address e.g.: t1YZMnyXStuGKykkFxM6Lh8DTVJdTMx6R51
Password   Leave empty or enter your custom share difficulty (default difficulty is 2000)


or more elaborate



They did not respond to my question, yet. Thank you.

stratum+tcp://us1-zcash.flypool.org:3333
walletaddress.workername
blank


Hmmm doesn't work for me... flypool only shows 320 h/s after 10min... 12 shares

edit: the eu version seems to work better... maybe I'm just to impatient. I'll give it an hour.

If you're monitoring through the Flypool webpage, it'll take some time to show your real hash rate. Look at the miner's monitor first and check the hashrate there. You can expect the Flypool avg. hashrate graph to climb upwards in hours and settle close to what your miner tells you.
Post
Topic
Board Mining (Altcoins)
Re: Z9 list of working pools/Fork updates
by
Sprucemoose78
on 26/06/2018, 13:25:56 UTC
Just curious what temperatures would be considered "safe". I received my Z9 mini yesterday, and I bumped it up to 750MHz almost right away. It mines at Flypool at an average of 16.4kSol/s (measured poolside). Rejected shares at appr. 0.4% and stale shares at 0.2% according to the miner interface. Now, this time of year it gets pretty hot outside, and I have the asic in my garage, which is even hotter. Chip temps are 74, 76 and 78 degrees (midday) while PCB-temp is 59, 62 and 63 degrees. Last evening/night the chip-temps were below 70 degrees. No registered HW errors.

Back down on the overclock or continue to let it rip?
Post
Topic
Board Mining (Altcoins)
Re: Z9 list of working pools/Fork updates
by
Sprucemoose78
on 26/06/2018, 13:19:10 UTC
Flypool has a message: "Because of performance issues with the Zcash client we are unable to send payout transactions to z addresses! Therefore DO NOT use z addresses to mine on the pool". How are those mining on this pool dealing with the issue. please?

Just mine to a t-address, works brilliantly. I don't know if any pool supports mining to z-addresses, as such transactions are pretty resource demanding. The Sapling upgrade, scheduled for later this year (hopefully) may change that.
Post
Topic
Board Service Announcements (Altcoins)
Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
by
Sprucemoose78
on 14/01/2018, 15:16:03 UTC
I have some trades with extreme spread ranging from 20-65%. Most of my spreads are in the range of +/- 0-1%, but I don't know how to deal with the extreme outliers. The most extreme trades are USDT/TRX, USDT/XDN, but some of the trades with a spread in the range 5-20% are also more mainstream currencies like USDT/ZEC and USDT/XMR.

Am I supposed to correct for these somehow, or do I leave them alone? Could these extreme values explain why my average purchase price of USDT is way off, like almost 350 regular USD?

If I should correct for this, how would be the best way to do this? Where could I find the "real" value of the coin in question?
Post
Topic
Board Service Announcements (Altcoins)
Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
by
Sprucemoose78
on 14/01/2018, 11:22:30 UTC
I'm hoping someone can help me understand how the local currency works.  I'm in USD
I have setup the API for all my exchanges and wallets.
I have a couple of questions.

1.  There is a check box on the API that says "Skip withdraws and deposits in USD"
I don't understand what this is for.  Its on by default so I am assuming I want it on.   Can someone explain this?


2. is a bit more complex and may be a side effect from question 1.

So I originally put $700 into Coinbase.  That was my buy in for the crypto world.  This is all the money I have ever put in.  I converted this to either ETH and BTC.  From there I have moved it around to various exchanges and made multiple trades. 
When I'm the current balance report page.  My total value of all currencies says -700USD. and it takes this away from my total balance.
So it shows the total value of all coins which is correct.  Then -700 USD and then my total account value which now shows value of coins - USD.  So the Total Account Value is off by $700

Shouldn't the value of my USD just be 0??   all that cash was converted to BTC and ETH and those transactions were captured.


I think I know the answer to your second question. When you bought your first BTC or ETH using your 700USD, in essence you "lost" your USD and "gained" BTC. So even when you then trade your BTC with other coins later, you're still down your original 700USD...until you one day sell your cryptos for USD again. It wouldn't be correct if you regarded your original investment of 700USD as free. In reality, it actually cost you 700USD, and that's why you have a negative USD balance.
Post
Topic
Board Service Announcements (Altcoins)
Re: CoinTracking - Profit/Loss Portfolio and Tax Reporting for Digital Currencies
by
Sprucemoose78
on 09/01/2018, 11:14:01 UTC
I'm struggling to understand the difference between "counterpart prices", "transaction prices" and "best prices" to do my taxes. The discrepancy between these three modes are extreme. If I use the "best prices" option, my UDST gain is close to zero, but if I choose the "counterpart prices", I have a huge negative gain in USDT (equivalent to 1000 real USD). I've only used USDT as a means to buy and sell other cryptos, never holding USDT for more than a couple of minutes. And I haven't done many trades either. So why is the gain calculation so different between the modes?

And what is the real gain I should use for my taxes? My realized gain is 25% lower with "counterpart prices" compared to "best prices"  Huh