It’s not so cut and dry. Keeping it at home or in some secret bank vault has its own risks, people can steal it(which they only need to copy the key you won’t even know until the coins are gone), it can burn down, access is severely limited etc… you can make backup and put it somewhere else, but that just opens up another point of exposure.

It all depends on your situation, if you live alone in a concrete house where no one has access, then yes keep it yourself, but most of us aren’t in this situation. 

Life is all about risk management, this is no different. Any exchanges outside of us regulation or foreign owned is a definite no, coinbase despite all the hate I think is pretty safe as they are us listed company and well regulated. Their risk management is also well defined. Can it still go down? Of course, is it likely to happen? Probably not.   Is it safer to keep your crypto there vs at your home safe? Only you can answer.

The real issue is they are using their own tokens as collateral to get loans, just let that sink in for a minute how fucking crazy that is, the fact the risk management allowed this to happen is beyond comprehension, total clown show. All those fuckers need to goto jail. That’s why you never put money in those exchanges outside of US regulation regardless how fancy their marketing / cover is.

Using another example for those of you still don’t understand….imagine a large us bank like chase or citi stating they have 5 billion in asset/collateral, and used to to get loans from everyone/outside investors. But what it doesn’t tell anyone is those 5 billion “asset” is actually its own stock shares.  So if something’s happens to the bank, be it baseless rumor or anything, that cause it’s stock to drop, all of sudden its asset also just got reduced, which in turn will trigger margin calls and negative view of the company, which trigger further drop on its stock….see where this is going.  I work in finance for almost 20 years now and very closely with the risk team, was chatting with them today and they thought I was bullshitting, refuse to believe a bank much less an exchange this size are allowed / are doing this, until I showed the articles, totally stunned just unreal.

lol all this caused by coindesk, started as some bullsht clickbait article - hi slow news day so lets see...we think alameda is holding lots ftt tokens...just saying. --> market total panic:  oh sht! fuk!! if ftt price drops then alameda is fked with margin calls, and yeah ftx is the lender to alameda so its' fked too, just pulling all this predictions out of my ass --> panic panic, sell ftt and cause price drop to self fulfill its prediction --> binance: haha let me pour some gas on fire, we will sell all ftt too ->  PANIC PANIC, ftt price crashes -->  FTX/alameda:  wtf just happened,  oh you fking idiots just created a run out of thin air...fk now we are really in trouble.... fuckkkkk

that's pretty much the summary, gotta love crypto.

hi guys, can someone help this is driving me nuts. i am trying to buy some luna coins from US but there doesn't seem to be anyone to buy it?   On binance.us which i thought has luna, i could not find the trading pair.  Google also doesn't turn up any reliable way to buy luna other than few shady small exchange.

does anyone know how to buy luna from binance.us or another relatively safe method from within US

thanks

can anyone access coinbase or coinbase pro?   piece of shit is completely offline all morning just when you need it the most as market drops 30%+  cant log in to make any trades. 

what good is an exchange when it keeps going down when you need it the most.   

Hi,

coinbase wallet app (not the trading platform, but the separate wallet app) recently introduced a new function that allows conversion between erc-20 tokens such as usdc, dai, etc.. 

my question is 1) does this actually get reported to irs like the trading platform does when you make a trade.  I assume no since the wallet is anonymous, they cant really report it.  2) is this considered a tax event by irs? if i convert say from usdc to dai, it's just a 1:1 conversion, do i have to report it to irs

thank you guys, that make sense now.



just yesterday, it's a fixed $2.5, i understand why now.  Love kraken everything is so much cheaper than coinbase to transact on

Hi can someone help explain this to me:

1) If i send USDC token from kraken to coinbase wallet (not coinbase, but its wallet app). It just cost me $2.5 and done.

2) But if i try to transfer USDC token between the wallet app's wallet1 to wallet2, it says it cost ether and is very expensive

I dont understand why coinbase wallet app transfer between your own wallets cost ether, while transferring the same USDC from exchange like kraken to coinbase wallet does not.

this piece of shit of an exchange with a website that looks like from the 00s and the performance/reliability of a 90 yearold trying to get a hardon.

why the fuck did i use this pile of crap to buy xrp,  as soon as they enable withdraw i am gtfo!

And those are just the stuff we can see, imagine how their backend and security looks like, if you are smart you will do the same.

mtgox 2.0

WARNING ON NEWGUY05

This is the real newguy05, my account was hacked using the leaked bitcointalk database late august, this scammer is now using my newguy05 account reputation i built over the last 6 years to promote fraud ICOs owned by HomeToken and others. BEWARE and please leave negative reputation against the hacked newguy05 account.

Since admins are non-responsive, i am posting after his replies (which are all a scam to try promote legitimacy) to generate awareness.

more detail:

https://bitcointalk.org/index.php?topic=2169580.0

Btc is at 15k+, you think people selling now is not making a profit ?

Not sure what you mean irs has strict guidance on bitcoins exchanged for cash. If you used an exchange like coinbase but don’t file, once coinbase give them the transactions they will come for you with interest and penalty.

With bitcoin hitting all time high, like to hear what everyone is doing with their taxes for the profits.  Be honest, lets have a open discussion.

I plan to file with irs and pay the capital gain tax. I think it's just a matter of time before coinbase hands over all records to irs anyway, they are fighting for the 2015 and earlier info now, but i am sure 2016/2017 will be easier to get. 

I am fine paying my share of the taxes due, only real concern is irs will use it as an indicator to flag me for audit.  So basically trying to do it right but end up getting screwed.

What is everyone's thoughts and plan? given it's almost tax season.

hacked newguy05 was posting every day spamming threads with multiple posts to pretend  to be legit promoting this scam, until i raised the issue and you responded stating you had nothing to do with the account being hacked. Then on the SAME day, newguy05 also stopped posting and never resumed. coincidence? yeah right.

Since you deleted my post in your scam hometoken thread - on how even the basic due diligence doesn't add up. I am reposting it below, everyone can make up their own mind. Your ico essentially can be summarized as giving you money to do as you wish in a country with no enforcement, backed by nothing but fluff and copy paste google articles. 

----

This hometoken is clearly a scam, you must be batshit crazy to give them any money

1) The website and white paper is just cookie cutter fluff copied from google without any real info on the actual ico, after you cut through all the bullshit in the white paper/website , it can be summarized as:  give us your money, we will use it to buy some real estate in malaysia, and the cashflow + appreciation will make your token worth more. 

2) There is no legal contract, no registered company, all those supposed employees are nobody and even then their linkedin profile never mentioned hometoken (if this is so legit, why none of them list it in their linkedin profile). Only this andrew yap who is suppose to be the founder has hometoken in linkedin - a 20 something kid that sold car insurance as his credential   - yeah i am going to give him money.

3) They take your money and can do whatever they want with it, even if they did buy real estate, and by some miracle the properties purchased is cashflow positive or appreciates, what makes you think they will tell you that and give YOU the profit?  There is zero accountability, once they have your money, you have no option whatsoever given it's all in malaysia - a country with little to no financial laws or enforcement.

4) Another sign is they keep promoting about hometoken being on all the legit financial websites like marketwatch - specifically for a news release regarding the $3 million pre-ico funding received by hometoken
 
   A) Anyone can make a news release and have it show up on those websites as press release feeds - it was written by hometoken themselves and put on those sites, it was NOT written by the legit websites. Same as tweets are not created by twitter the company. The fact they heavily promote essentially their own bullshit as legit news from those websites is another big red flag.
   
   B) Also where is this proof they received $3 million pre-ico funding, where is the audited bank statements by the big 4 accounting firms confirming the money is there?  It's all bullshit. 

5) Also consider the fact even if they are completely legit, real estate investment is extremely difficult given the initial principal required and ongoing upkeep.  Only a small percentage are cashflow positive. Do you really think this 20 year kid who sells car insurance has the depth and expertise to be successful AND will actually give you some of the profit if it indeed works out?

The list goes on and on.  As i said you must be nuts to give them money - much better odds at vegas.  I work in 1 of the big 4 ibanks on the street for 15+ years in risk, and as a real estate investor for majority of my adult life - 20+ years.  I will bet the farm this is a 100% scam. 

At least if this is a US registered llc you have some recourse, but it's not.  You wouldn't loan money to strangers in asia, so why would you do it now?  just donate it to charity instead at least you get the tax write-off.

hacked newguy05 averages multiple posts per day, yet right after your reply on 9/16-17, newguy05 mysteriously stopped all posting.  It just further proves you are using hacked accounts that were legit reputable users to promote your scam hometoken. This is so clearly a fraud, far easier to spot than even the mining hardware scams in the early days.

NEWGUY05 ACCOUNT WAS HACKED, THIS ACCOUNT IS NOW BEING USED FOR HOMETOKEN SCAM

This is the real newguy05, my account was hacked using the leaked bitcointalk database late august, this scammer is now using my newguy05 account reputation i built over the last 6 years to promote some fraud ICO called HomeToken. BEWARE and please leave negative reputation against the hacked newguy05 account.

Since admins are non-responsive, i am posting after his replies (which are all a scam to try promote legitimacy) to generate awareness.

more detail:

https://bitcointalk.org/index.php?topic=2169580.0

WARNING TO ALL:  NEWGUY05 ACCOUNT WAS HACKED, THIS ACCOUNT IS NOW BEING USED TO PROMOTE THIS HOMETOKEN SCAM

This is the real newguy05, my account was hacked using the leaked bitcointalk database late august, this scammer is now using my newguy05 account reputation i built over the last 6 years to promote this fraud ICO called HomeToken. BEWARE and please leave negative reputation against the hacked newguy05 account.

Since admins are non-responsive, i am posting after his replies (which are all a scam to try promote legitimacy) to generate awareness. Most of those positives replies are all from hacked accounts promoting this scam.

more detail:

https://bitcointalk.org/index.php?topic=2169580.0

Hi thank you for the info and I have sent the message, just curious why you guys can't just ban the account.  From your log as stated, it should be obvious the scammer changed password, email, and is logging in from a different IP than the my usual IPs before the change.

All,

My account newguy05 was hacked.  The hack happened around mid/late August.  The scammer is now using my account/reputation i earned from the past 6 years to promote his fraud ico coin - HomeToken.

https://bitcointalk.org/index.php?action=profile;u=20440

Have sent message to admin but have received no response and this scammer continues to use my account to commit fraud.  Add insult to injury, I am 100% certain this guy got my account due to bitcointalk's login/pass database being hacked a while back.  My email was not compromised, and there is no way he would brute forced my password which is very secure.  

To any admin who is reading this - if you need proof just PM me i have the various PMs sent/received in NEWGUY05's account year back to prove i was the original owner. If i cannot get the account back, i request to have it at least banned so it cannot be used to continue to scam people on this forum.

To anyone else reading this, please give newguy05 negative reputation so people are aware the account is compromised and is now owned by a scammer.

Thanks

----

Updated in first post as warning to all:

hacked newguy05 was posting every day spamming threads with multiple posts to pretend  to be legit promoting this hometoken scam, until i raised the issue and hometoken responded stating he had nothing to do with the account being hacked. Then on the SAME day, newguy05 also stopped posting and never resumed. coincidence? yeah right.

Hometoken is clearly a scam, you must be batshit crazy to give them any money

1) The website and white paper is just cookie cutter fluff copied from google without any real info on the actual ico, after you cut through all the bullshit in the white paper/website , it can be summarized as:  give us your money, we will use it to buy some real estate in malaysia, and the cashflow + appreciation will make your token worth more.  

2) There is no legal contract, no registered company, all those supposed employees are nobody and even then their linkedin profile never mentioned hometoken (if this is so legit, why none of them list it in their linkedin profile). Only this andrew yap who is suppose to be the founder has hometoken in linkedin - a 20 something kid that sold car insurance as his credential   - yeah i am going to give him money.

3) They take your money and can do whatever they want with it, even if they did buy real estate, and by some miracle the properties purchased is cashflow positive or appreciates, what makes you think they will tell you that and give YOU the profit?  There is zero accountability, once they have your money, you have no option whatsoever given it's all in malaysia - a country with little to no financial laws or enforcement.

4) Another sign is they keep promoting about hometoken being on all the legit financial websites like marketwatch - specifically for a news release regarding the $3 million pre-ico funding received by hometoken
  
   A) Anyone can make a news release and have it show up on those websites as press release feeds - it was written by hometoken themselves and put on those sites, it was NOT written by the legit websites. Same as tweets are not created by twitter the company. The fact they heavily promote essentially their own bullshit as legit news from those websites is another big red flag.
  
   B) Also where is this proof they received $3 million pre-ico funding, where is the audited bank statements by the big 4 accounting firms confirming the money is there?  It's all bullshit.  

5) Also consider the fact even if they are completely legit, real estate investment is extremely difficult given the initial principal required and ongoing upkeep.  Only a small percentage are cashflow positive. Do you really think this 20 year old  kid who sells car insurance has the depth and expertise to be successful AND will actually give you some of the profit if it indeed works out?

The list goes on and on.  As i said you must be nuts to give them money - much better odds at vegas.  I work in 1 of the big 4 ibanks on the street for 15+ years in risk, and as a real estate investor for majority of my adult life - 20+ years.  I will bet the farm this is a 100% scam.  

At least if this is a US registered llc you have some recourse, but it's not.  You wouldn't loan money to strangers in asia, so why would you do it now?  just donate it to charity instead at least you get the tax write-off.