If someone had an account in BTC-e/Wex.nz or Cryptopia, then how is he supposed to list the details of all the cryptocurrency transactions he made using these platforms? The IRS will expect that you have kept full records of all your transactions, including between fiat and crypto and between crypto and crypto. If you don't have these records, then you will need to report your trades as accurately as you can, which would include contacting the exchange in question and requesting your transaction records if possible. If you have no records at all, and the exchange no longer exists to provide those records, then I suppose your only option would be to figure out what you deposited to the exchange and what you ultimately withdrew, and calculate the difference as your capital gains. If you can't even figure out that, then I assume you would have to assume a cost basis of zero on whatever you are holding. Having said all that, I am not a tax professional and have never been in this situation given that I do not use any centralized exchanges, so if being audited by the IRS (or your country's equivalent) is a concern of yours, then you should take professional advice. If such a situation arises, then obviously I need to consult a CA. The last time I used a centralized exchange was in 2018. After that I realized the dangers of using their services. For the past 3 years I am mostly using DEX and P2P platforms. But what was done earlier can't be undone now. In case the tax department digs out all those past transactions, then I guess I will be in trouble. The amounts involved are not that large, but still it will be better to be prepared. |
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Also it is also about the options available to watch. Previously there were only ODI and Test Matches but since the introduction of T20 and then the leagues like IPL/PSL , the trend of people have changed and now they want to see more aggressive cricket however the real beauty of cricket still lies in the classic 5 days test matches.
Let's not forget the fact that the cricket boards were forced to rethink on shorter formats. It was not their natural choice. Back in 1977, Kerry Packer came up with his World Series Cricket, which was the first limited overs cricket tournaments. The ICC banned any player who took part in this tournament. But gradually they realized that the ODI format generates much more revenue when compared to the longer format. Same happened with the T20 format. It was Subhash Chandra who came up with the idea of Indian Cricket League. The BCCI was quick to ban anyone who was associated with this event. But they eventually came up with the IPL, after realizing that the ICL was generating a lot of revenue. |
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PoS actually stands for "Piece of Shit" and not "Proof of Stake". Elon Musk, being a PoS himself wants us cryptocurrency users to dump Bitcoin for some shitcoin which he can control. He has realized that it is impossible to manipulate Bitcoin, and that is why he has come up with crazy excuses such as Bitcoin uses too much electricity. Right now, there is not a single altcoin out there, which has the same security benefit as that of Bitcoin. Elon just wants a centralized coin, which he can dictate.
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These sort of scams have been going on for several years now, and huge number of people have lost their life savings. If you check my threads, you can see that I had posted about a very similar scam more than a year ago: https://bitcointalk.org/index.php?topic=5234450.msg54070831This particular scam has used almost exactly the same methodology. And this is what we can do from our part, to prevent people from falling in to such scams. Check the post from btc_angela: |
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^^^ Well.. I remember what happened in 2017. At one point, Ethereum was at 33% and Bitcoin was at 37% (it has been 4 years... very difficult to remember everything accurately now). However, if I remember correctly, at that time Bitcoin was severely weakened by the BCH hard fork. A lot of people were expecting that BCH would be having a value of around 1/5th of that of Bitcoin, but after the first day's trade ended it had a price of BTC0.04 per coin.
BTW, I am not a big fan of altcoins and I hate most of them. But still I have some reluctance before I label Ethereum as a shitcoin. I would happily call Dogecoin a shitcoin, but I would think twice before using that term to describe Ethereum. I believe that Ethereum had some innovation associated with it, unlike coins such as Doge. ETH was the first smart contract platform. So it brought something new to the cryptocurrency market, although the basics are 99% similar to Bitcoin.
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There is hardly any positives to take out of this correction. The shitcoins are still looking like inflated bubbles. During the previous corrections, usually the Bitcoin dominance would go up (at least temporarily), but this time it has remained as stagnant. Established alts such as ETH and BCH went down, while some of the shitcoins actually increased their market share.
And I am really getting uncomfortable with stablecoins such as Tether. They have become too big to be sustainable. USDT itself is having a market cap of $58 billion and it has near zero accountability.
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I would rather side with Israel here. I don't want to give history lessons to anyone, but I have heard about the role played by the Chief Mufti of Palestine (Haj Amin al-Husseini) in the holocaust. Half of jewish population got wiped out in the holocaust and most of what remained were expelled by the Arab nations after the end of WW2. Now where do you want these people to go? Israel is the only Jewish country in the world. Arabs have at least two dozen countries to reside. There is no point in saying that Jews should share Israel with Arabs, when Arabs themselves refused to share their land with the Jews.
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^^^ Not entirely accurate. Sreesanth was made a scapegoat and he was acquitted by the court. He fell out with some of the big names within the BCCI at that time, and that was the reason why these fake charges were framed against him, and his career was ruined. On the other hand, Mohammed Azharuddin was convicted of match fixing and he admitted to those charges. In your post, you are claiming that Sreesanth "was involved in match fixing" while Azhar was "just accused of match fixing". Actually it is the other way around. And Azhar went on to become a politician with the opposition party, after being proven his competence in fixing matches.
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I do not want to risk myself by going to the casino, even if I wear masks, because the number of infected people still increases. However, the vaccine is already given to people infected and not infected. It is better to take care of ourselves first and stay healthy than to risk our life to search for satisfying ourselves by playing gambling in a casino. Besides that, we have an online casino that can help us play gambling if we want to play gambling. We do not know if the vaccine can really help us from the virus, as we will need time to know that the vaccine protects us.
None of the vaccines have proven to be 100% effective till now. Both Pfizer and Moderna claims that their vaccines are 95% effective against the infection, while Lancet claims that the Sputnik V has an efficacy of 92% (Sputnik on the other hand claims an efficacy of 97%). Even if you use these vaccines, there is a 5% to 8% chance of getting infected. So it is up to you whether you want to take that chance. And one more thing.. the double-mutant strain that originated in India (B.1.617) has killed a number of people who were fully vaccinated with Pfizer. Fortunately this strain is largely confined to India, but everyone needs to be cautious. |
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Well said, sports is all about the performance. If it turns to be like an industry automatically there'll be discrimination. Already several teams players are facing it for different reasons, and only very few seniors stay supportive to the young players while the majority try to suppress the younger ones. Same as IPL now there are leagues conducted within the States. That will help those younger players progress than working under a senior player.
I believe that the state-level franchise leagues can contribute a lot to the formation of young talent in India. But the BCCI has created unnecessary obstacles for these tournaments. They have prohibited not just the overseas players, but even players from the other states. For example, someone like Shreyas Iyer, Venkatesh Iyer or Abhimanyu Easwaran can't take part in the TNPL, simply because they are registered to associations other than the TNCA. This reduces the attractiveness of such tournaments outside their own states. I remember that initially TNPL used to be covered by Star Sports. But despite the initial enthusiasm, the viewership numbers dropped later. |
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In the past the players were selected from their performance in the domestic circuit especially Ranji Trophy but with the introduction of IPL every team have members who scout for young talents and these scouting team will watch even club cricket to identify young talents and then pick them to help the main team as net bowlers and then pick them in the team which they are fully prepared and the IPL is really helping groom the young talents.
It is not entirely surprising, if you ask me. Ranji Trophy is a 4-day competition and it is not necessary that the players who perform well in this tournament will be suitable for T20 and ODI formats. The test format has limited scope for recruitment of fresh players. So most of the openings come up for the shorter formats. And here, the performance in IPL should count, rather than that in the Ranji Trophy. There are domestic T20 and ODI tournaments in India. But once again, the quality is not that great. |
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By the way @bryant.coleman, quite frequently I am getting into battles with various other members who become quite adamant in their beliefs that CMC has some kind of considerable meaning - and I really downplay the importance of it (I am not the only person with this idea), so I probably should not be the one bringing this up. I am wondering if Ethereum (kind of the shitcoins) were to be separated out of the altcoin category of your list. I know that it becomes more complicated, so maybe I would regret even answering. Of course, these last couple of weeks Doge has gotten a lot of appreciation, so maybe it can be a bit complicated to separate out any particular coin, such as ETH. There was also a lot of appreciation of BNB in recent times, and is BNB in the Alt category rather than the stable coin category, right?
I have only included coins such as USDT and Pax USD in the stable coin category, as these coins are pegged to the US Dollar. BNB is included in the altcoin category (or are you talking about the BUSD? Binance USD is included within the stable coin category). I need to think about making a separate category for Ethereum, but there are a number of very similar altcoins out there (Ethereum Classic for example, and other smart contract platforms). What can be the justification for not including them in the new category? |
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India is considered as an under developed country and its hard to control the virus if it outbreak in these countries. Unfortunately the virus outbreak in India despite the fact that they were the first few nations who started vaccinated their people in early stages. Too many people have lost their life in this crisis.  The population is too huge and the government is helpless. If they had implemented some sort of family planning measures a few decades back, then the situation would have been much better now. I have relatives and friends in India and I have stayed in that country for many months. I would say that the uncontrolled population explosion has to be blamed for 99% of the issues there. Actually this is not something that is unique to India. It is applicable to most of the third world countries, such as Nigeria and the Philippines. |
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He is like a clown. Manipulate the market to bring about your own profit. This is so embarrassing as a world billionaire. I think someone has paid for Elon so he posted the tweet lines that shake the market.
If he could manipulate the market with a few tweets and make billions out of it, then I wouldn't call him a clown. I would rather call him superman. It took Warren Buffett many decades to make the amount of money that Elon Musk made in a few hours with his manipulation of the cryptocurrency market. IMO, he is one of the most intelligent billionaires out there and I won't be surprised if he becomes the richest person in this planet very soon. That said, I don't think that what he is doing is something very ethical. |
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Sorry but the liquidity is extremely low? Was that a typo? DOGE has volume of almost $10 billion and decent order books or am I watching different data than you?
Most of the cryptocurrencies do have liquidity issues, and Dogecoin is no different. Don't just go by the daily trade volumes given by various exchanges. They are almost always inflated. In case of DOGE, from what I have seen, only a small part of the coins are "moving" and most of the larger wallets doesn't show any recent transactions. And for DOGE, let's not forget that 70% of the circulating supply is concentrated in the top 100 wallets. Once someone attempts to sell a large stash of DOGE at once, the prices may fall by 50% or more. |
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Is it the only reason why Bitcoin is going down right now?
Nope. The main concern now is the ongoing investigation in the United States against Binance. Both the Internal Revenue Service (IRS) and Justice Department are reported to be collecting information specific to Binance in preparation for a lawsuit. This was sort of expected, after Janet Yellen had her meltdown a few weeks ago. Even last year, I had warned everyone here that Democrats are much more of a threat when compared to the Republicans as far as cryptocurrency is concerned. And my prediction is being proven right. |
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I still doesn't understand how these ransomware guys managed to infect the pipeline computers. Are these companies staffed by people who can't differentiate an office email from a phishing email? If that is the case, then Brenntag should contact the hackers and recruit them as cyber security experts in their company. How can anyone with even basic computer knowledge fall in to this trap? Really pathetic state of affairs with some of the top corporations in the United States.
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I agree. Further, given the number of exchanges which have scammed, been hacked in to insolvency, shut down, etc., not only will many people not have done this, but many people will be unable to do this retrospectively as they did not keep their own records and can no longer access their exchange's records. Now this is very interesting. If someone had an account in BTC-e/Wex.nz or Cryptopia, then how is he supposed to list the details of all the cryptocurrency transactions he made using these platforms? How the IRS is going to react in such a situation? Thankfully I am not a citizen of the United States. I had accounts with at least half a dozen exchanges (all of them KYCed) and 2-3 of these exchanges doesn't exist anymore. And in my country, I haven't yet heard from anyone that the authorities are targeting cryptocurrency users. |
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Here are the latest stats from 16th May 2021. Total market cap: $2,272,647,036,479 ( -6.38%) Bitcoin: $911,168,938,459 (40.093%) Bitcoin forks: $31,662,172,922 (1.393%) Stablecoins: $90,604,057,460 (3.987%) Altcoins: $1,230,628,143,050 (54.150%) WBTC: $8,583,724,588 (0.378%) This is the change compared to my last post: Bitcoin: -4.346%
Bitcoin forks: -0.056%
Stablecoins: +0.397%
Altcoins: +4.036%
WBTC: -0.031%Here are the latest stats from 9th May 2021.
Total market cap: $2,427,591,552,369 (+10.10%)
Bitcoin: $1,078,790,197,908 (44.439%)
Bitcoin forks: $35,180,575,798 (1.449%)
Stablecoins: $87,140,720,676 (3.590%)
Altcoins: $1,216,563,567,704 (50.114%)
WBTC: $9,916,490,283 (0.408%)
This is the change compared to my last post:
Bitcoin: -3.551%
Bitcoin forks: +0.247%
Stablecoins: -0.083%
Altcoins: +3.398%
WBTC: -0.010% |
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