Wow great information. I had no idea, all three (PIN, wallet, & phone) need to be specific to unlock. BTW, what happens if I lose my phone (the one I used to scan the Jade QR)? I guess, I need to set it up again by restoring the wallet. Thank you so much, folks.

I don't understand the purpose of this method of unlocking a Jade wallet. When I select the QR mode in my Jade, it prompts me to enter my previously selected PIN (6 digit number) to the Jade. Then the Jade gives a QR code which I need to scan from the phone (or PC with camera). Then the web page shows another QR, which I need to scan it using the Jade. Then the Jade issues QR, which I need to scan with the phone. Then the web page issues another QR which I need to scan with the Jade.

How does this scanning QR back and forth between the Blockstream website and the Jade wallet adds any security? Once the PIN is entered, anyone can do the same thing. How is this method any more secure than just entering PIN to unlock a wallet? 

I should have provided the context. I am using Blockstream Jade. As a part of the setting up the Jade wallet, it gives me an option to "draw" the seedQR, which is used to login to this stateless wallet (which forgets the private key when power turned off). What I don't understand is, why would anybody want to create this seedQR, which is like a card with the 12 words written on it. Sure, you can write down the words and put it away somewhere safe, but you shouldn't be using the card everytime you log in to the wallet.

Can I find a wallet's seed phrases or private key, if I have the wallet's seedQR?

Blockstream Jade has a unlock feature called QR PIN unlock. First I enter my previously selected PIN numbers. Next is the part I don't understand its purpose I go to a webpage then I take QR pictures back and forth between Jade and website. Once I entered the PIN numbers on Jade, anybody with a phone can do the next part, right?

I used Cryptotrader.tax and I found two errors in the app.  I contacted their support team.  They had acknowledged the errors. They fixed the issues and emailed me back to test to confirm the fix.  Both of the errors would have raised my tax obligation falsely.  I contacted them and asked them if they were going to notify their customers who were affected by the errors.  They are not responding. 

I just want to know what I can do to bring this to the public. 

Below is the email exchanges. 

8/27/2021 ME:  There must be thousands of your customers, if not more, who had been given inaccurate data that was now brought to light as a result of me pointing them out to you.  Are you planning to notify your customers of these recently fixed discrepancies in your app so they can re-upload their trade data?

8/27/2021  CRYPTOTRADER.TAX SUPPORT:    "I appreciate the concern here and yes, we do plan to notify our customers so that they can re-import their data for Kraken. We follow a standard practice for this in which our dev team runs an affected user analysis and then we will send an outreach by email to all the affected users. We are committed to addressing any errors and helping our customers to get the correct calculations. Thank you for reaching out about this issue and for providing evidence that made it very easy to escalate and then resolve the bug. Please let me know if you have any more feedback or concerns that I can share with our team."

8/27/2021 ME:  "Do you have any rough projection of when the email will be sent out?"

9/6/2021  CRYPTOTRADER.TAX SUPPORT:  "Thanks for following up in this. Our engineers are running a query in the production database to determine all the affected users, and then our David, our CEO will be sending out a message. This should be completed by the end of this week."

9/27/2021 ME: "please update me on the status of the CEO notification." 

9/28/2021  CRYPTOTRADER.TAX SUPPORT:    Thanks for checking in about this. It has taken a bit longer than expected to run the query in our production database as we want to extra thorough in collecting all affected users. We should have this completed within the next week. Feel free to send another follow up message if you do not hear from me."

10/27/2021 ME:   "Please update me"

CRYPTOTRADER.TAX DID NOT RESPOND.

10/27/2021 ME:   " As a result of the two defects I found in Cryptotrader.tax app, I assume, some of your PAYING customers got accounting reports that erroneously raised their tax obligations.  Does cryptotrader.tax intend to notify the affected customers? "

 CRYPTOTRADER.TAX DID NOT RESPOND.

I used an online crypto tax app this year.  It is one of the well known apps. 
   However, I found two errors in the app.  As far as I know these errors only apply to the coin transactions I made at the Kraken exchange.  1-The app was processing my buy transactions as receive transactions.  2-The app was not including crypto selling fees in the cost basis.  Both of these would negatively affect my tax situation. 
   I let the company know about these issues.  The company representative contacted their dev team. She said they will run affected user analysis and notify the users.
   Here is my question.  Considering the critical nature of the errors I discovered, I feel I deserve some form of a reward.  Reasonably speaking, what kind of reward do you think I could ask for? 

In one bitcoin transaction showing 2 outputs with different addresses, how do I know the wallet address of the recipient?  I guess I don't understand what the 2 addresses of the 2 outputs.  The 2 addresses are 2 public addresses of the wallet?  That doesn't make sense because the 2 addresses have different btc amounts. 

sorry, I am in the United States.  Thanks.

If I buy some bitcoin worth $1K, including free and cost, then one year later it is worth $2K.  At that time, I give it to my friend.  My friend then sells it for $2K.  Then, does my friend have to pay tax?

I have some Youtube and Twitter BTC experts who got me into BTC and who I trust totally.  Yet some of them recommend people to take advantage of the passive income with BlockFi.  I thought it was crazy for anyone to trust their BTC with BlockFi.  After reading all your replies, I am now 100% convinced.  My BTC stays in my cold storage.  Thanks. 

Everywhere I read tells me it is not a good idea to leave BTC long term at an exchange wallet.  However, the same people who say that recommend crypto interest earning accounts such as BlockFi or Celsious.  Doesn't make sense to me.  So I should not trust Coinbase or Gemini yet I can trust BlockFi or Celsius to keep my crypto safe?  What?

Any Metamask users?  I am using Chorme browser extension Metamask on Windows PC.  My Metamask has a regular Metamask account and a hardware Metamask account.  The hardware account is linked to my Ledger Nano S.  I am trying to send ETH from that hardware Metamask Ledger account to a regular Metamask account.  So, I set up the amount to send and press confirm.  After that I see the circling orange bars and eventually the transaction got failed.  There is no instruction on how to do this anywhere.  Did I need to approve that transaction with the Ledger Nano?  If so, I did not get any prompt to do so.  Also, if I didn't have to approve that with the Nano, what is the point of using a hardware wallet?

Hi, I am a bitcoin novice.  I use Ledger Nano S with Ledger Live.  I want to check my Nano S BTC balance on blockchain. 

So, I open Ledger Live and open the BTC account then click on "receive."  Then, it generates a recipient address for my Nano S.  I copy the address then go to live.blockcypher.com then plug in the address. 

The balance showing there does not at all match my balance showing in my Ledger Live.  What am I doing wrong here?

Thank you so much for your answer. 

Based on your advice, I did some more research and now I am almost certain FIFO and LIFO (even HIFO) are acceptable to IRS.
 
https://gritdaily.com/irs-releases-new-rulings-cryptocurrency-taxes-2019/
https://donnellytaxlaw.com/tax-expert-picking-the-best-method-for-reporting-your-cryptocurrency-gains/

Koinly allows me to compare FIFO, LIFO, HIFO for my capital gain.  For me, LIFO was about 1/2 of FIFO. 

Thank you.

I heard IRS allows LIFO or HIFO method for crypto tax calculation (as oppose to FIFO), but LIFO/HIFO methods require more thorough transaction records keeping? 

1) Is that true?  Does IRS even allow LIFO or HIFO for crypto tax?

2) If true, using API to import transaction documents from Coinbase to Koinly satisfy the record keeping requirement?

3) Also, does using either LIFO or HIFO increase the likelihood of audit than using FIFO?

Thanks

1.  I had made API in Coinbase Pro before just to practice.  Then I deleted it all right after that.  Coinbase confirmed that I do not have any API active.

2.  I have 2FA for Coinbase login, it is Google Authenticator.

3.  I used Lastpass generated password for the Coinbase password.  Needless to say, I do not use the same password anywhere else. 

Thank you for all your help. 

I live alone so nobody used my computer.  So, somebody I know using my computer is not a possibility.

There was no coinbase login record other than the logins I initiated.  Also, someone had to access my gmail in order to approve login every time. And there is no google account login history other than me logging in. 

So, the only thing I can think of is malware.  I had AVG free version that scanned computer but found no malware.  So, someone must have been able to hijack my computer remotely through a sophisticated malware that was undetected. 

What I don't understand is this. If would someone go through all that work and not try to make any money?  I have Paypal accounts with cash balance, multple bank accounts.   

I found some unauthorized transactions in my Coinbase Pro account.  I reported to Coinbase and  went through the recover process.  They said my computer was compromised, or someone else  used my computer to place the orders.  I went through due diligence to rule out all those. 

Coinbase does not show any history of orders placed.  They only show history of orders filled. I wish there was a way to prove that the orders were NOT placed by me.     

I placed 4 smart trades on 3commas to buy BTC.  Each trade was to buy 0.01 BTC.  Total 0.04 BTC.  Also, each trade had TSL (trailing stop loss) at -2%.  When it started buying, I logged on and saw the status of the smart trades.  It said 1 was "placed."  Another one was "pending."  2 were "finished."  However, when I went to my exchange, I only saw 0.02 BTC.  BTC price never came down to the -2% from the recent high.  I got on the chat line with the 3commas support and he didn't have an answer.   Also, the on the trade status, the TSL price did not change at all.  Trailing stop loss should follow the current price moving up.  Has anyone experienced this?