Hi,

Apologies for such a basic question, but I am new to bitcoin and it can all be a bit overwhelming.  So far I've just dipped my toe in the water and I've made all of my trades (9x$1000) on coinbase pro.  The money is free to ack into the account ($2000 / day limit) and each trade is $6.95.  I'm toying with the idea of making a larger purchase ~$200k and I'm not sure how to do it.  The most straight forward option would be to wire the money into my coinbase account and make the trade just like I've made the others.  Is this a reasonable way to do the transaction or is there a cheaper and or safer and or better way to do this?

Thanks!

Hi,

I am very new to bitcoin investing and am trying to understand the tax implications.  My understanding is that to the extent that I just buy and sell on exchanges, gains / losses are treated like any other capital gains / losses.  If I buy $1000 of bitcoin in January and sell it for $2000 in March, I have a $1000 of short term capital gains.  That much seems easy enough.

But what if I actually use it as currency to buy something.  It seems like in theory I would have to manually look up the price that day calculate the gain losses every time I buy something.  That's obviously not practical for anything but the very occasional large purchase.  If people are ever really going to use bitcoin as a currency, how is this going to work?  What am I missing?

Thanks!