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Author Topic: Number 9! Ninth altcoin thread. Back to the moon Baby!  (Read 29896 times)
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August 14, 2019, 07:08:15 PM
 #301

Guys, quick one please:
I'm hooking up a few case fans to a rig, and they've got molex extenders.
Can I just daisy chain, say, 3 of them and power them with one single molex power cable from the PSU? Will all 3 fans run at full speed?

Yes, ive daisy chained exactly 3 fans on several occassions on one molex, work perfectly fine, most case fans draw less than 1A anyways.

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August 14, 2019, 07:09:26 PM
 #302

Guys, quick one please:
I'm hooking up a few case fans to a rig, and they've got molex extenders.
Can I just daisy chain, say, 3 of them and power them with one single molex power cable from the PSU? Will all 3 fans run at full speed?

Yes, ive daisy chained exactly 3 fans on several occassions on one molex, work perfectly fine, most case fans draw less than 1A anyways.

Ditto

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August 14, 2019, 08:54:52 PM
 #303

Ok, they're Scythe UltraKaze fans, 0.6A @ 12V.
Got 6 of'em to hook up, think I should use two molex connectors or will it be ok to daisy chain them all on one?



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August 14, 2019, 11:12:09 PM
 #304

Ok, they're Scythe UltraKaze fans, 0.6A @ 12V.
Got 6 of'em to hook up, think I should use two molex connectors or will it be ok to daisy chain them all on one?

3 seems reasonable;  thst's still well under 200w....  should be fine IMHO.

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August 15, 2019, 04:47:27 AM
Last edit: September 18, 2019, 10:03:16 PM by mprep
 #305

Switch to Gemini I got worried about my tax liability after I saw these emails were going out and emailed gemeni

Thanks for reaching out. Based on your account history, you did not meet the threshold for number of digital asset sales transactions in 2017 and 2018 and, therefore, Gemini does not have any tax statements available for you. Please note that Gemini will only send Forms 1099-K to customers and the IRS where both of the following conditions are met:

1. The customer's number of bitcoin, ether, Zcash, litecoin, and bitcoin cash sales transactions on the exchange exceeds 200 transactions per year, and
2. The customer's total sales proceeds from all sales transactions exceeds $20,000 per year.

For your reference, the amounts that would be reported on the Form come directly from an account’s transaction history Excel file, which can be accessed by following the three steps below:

Tho makes far more sense , if you are not trading like crazy over 200k trasacations no way coinbase should be farming out your info to the irs.  for the record I just use Gemini to go from crypto to fiat , sometimes I buy Btc through it but I don’t trade there , fees are too high and also to stay unde the radar.

Leave coinbase they are shitheads, btw I move well over 80 90k usd though my gemeni account each of the last two years Lol

200 not 200k.

My advice is use a non kyc exchange for your day to day trades , high volume shit and use another one far less frequently to cash out as needed no more than 2 to 3 transactions a month.  and Dump Coinbase!!

100% this, especially the non-kyc exchange(s) for all of the altcoins.  I also use gemini but like Marvell, just to buy-in, hold some assets, and (rarely) cash out.  Their fees are higher but they seem like the most professional exchange and you never heard about customer service nightmares.   Ultimately the IRS cannot trace all earnings from mining and trading.  I think the simplest practice is using a singular exchange for nothing but fiat trading, then the reporting becomes quite simple.





...
Just getting updated on 2 pages of posts....

Phil, hope you can find some ways to stay in the game -- too much upside this future of cryptos.

All this inconsistencies in US taxation and laws are just too premature unless they fully understand crypto-currencies.

Take the Facebook Libre case ......to allow Libre at the expense of people's privacy OR allow Bitcoin protecting people's privacy.


I will post but won't be doing any crypto activity from Jan 2020 to Jan 2021

But now  my issue to sell is how do I accept funds? If I take crypto  will I need to tell government kyc info on a private sale when I report sale on my 2019 return.

You don't need to have kyc info for a private sale, regardless of what currency you accept.  No different than selling a car, boat, tools, etc.  KYC is to prevent money laundering
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August 15, 2019, 05:45:37 AM
 #306

You can't tell until you do it. Depends on wiring of fan to molex and psu design

My new cellphone account for bitcointalk is Philipma1957cellphone

.6 x 12 = 7.2 watts say 8. 8 x 6 is 48 watts.

Those  molex   If wired correctly have 1 ground and 1

12 volt  wire.  If it is an 18 gauge wire it can provide about 75 watts x .8 = 60 watts.

So you should be able to use 1 molex. Cable

I would put three on two separate cables.

I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
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August 15, 2019, 09:51:28 AM
 #307

https://cointelegraph.com/news/us-crypto-holders-only-have-a-few-days-to-reply-to-the-irs-6173-letter

Damn this must be a nightmare  Shocked
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August 15, 2019, 10:06:32 AM
Last edit: September 18, 2019, 10:05:43 PM by mprep
 #308



...
Just getting updated on 2 pages of posts....

Phil, hope you can find some ways to stay in the game -- too much upside this future of cryptos.

All this inconsistencies in US taxation and laws are just too premature unless they fully understand crypto-currencies.

Take the Facebook Libre case ......to allow Libre at the expense of people's privacy OR allow Bitcoin protecting people's privacy.


I will post but won't be doing any crypto activity from Jan 2020 to Jan 2021

But now  my issue to sell is how do I accept funds? If I take crypto  will I need to tell government kyc info on a private sale when I report sale on my 2019 return.

You don't need to have kyc info for a private sale, regardless of what currency you accept.  No different than selling a car, boat, tools, etc.  KYC is to prevent money laundering

"KYC is to prevent laundering" .... hmmmm...... but banks do it all the time, seems unfair no?





...
Just getting updated on 2 pages of posts....

Phil, hope you can find some ways to stay in the game -- too much upside this future of cryptos.

All this inconsistencies in US taxation and laws are just too premature unless they fully understand crypto-currencies.

Take the Facebook Libre case ......to allow Libre at the expense of people's privacy OR allow Bitcoin protecting people's privacy.


I will post but won't be doing any crypto activity from Jan 2020 to Jan 2021

But now  my issue to sell is how do I accept funds? If I take crypto  will I need to tell government kyc info on a private sale when I report sale on my 2019 return.

You don't need to have kyc info for a private sale, regardless of what currency you accept.  No different than selling a car, boat, tools, etc.  KYC is to prevent money laundering

"KYC is to prevent laundering" .... hmmmm...... but banks do it all the time, seems unfair no?

....

anybody figured out the new Nicehash platform yet?

old.nicehash.com/worker/BTCaddress dashboard works for now, but new system seems to only allow internal wallet



If I provided you good and useful info or just a smile to your day, consider sending me merit points to further validate this Bitcointalk account ~ useful for future account recovery...
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August 15, 2019, 10:30:33 AM
 #309



...
Just getting updated on 2 pages of posts....

Phil, hope you can find some ways to stay in the game -- too much upside this future of cryptos.

All this inconsistencies in US taxation and laws are just too premature unless they fully understand crypto-currencies.

Take the Facebook Libre case ......to allow Libre at the expense of people's privacy OR allow Bitcoin protecting people's privacy.


I will post but won't be doing any crypto activity from Jan 2020 to Jan 2021

But now  my issue to sell is how do I accept funds? If I take crypto  will I need to tell government kyc info on a private sale when I report sale on my 2019 return.

You don't need to have kyc info for a private sale, regardless of what currency you accept.  No different than selling a car, boat, tools, etc.  KYC is to prevent money laundering

"KYC is to prevent laundering" .... hmmmm...... but banks do it all the time, seems unfair no?

....

anybody figured out the new Nicehash platform yet?

old.nicehash.com/worker/BTCaddress dashboard works for now, but new system seems to only allow internal wallet



You can use external wallet also on the new nicehash. I'm using the same BTC mining address just changed the stratum server to eu-new.nicehash.com:[port]
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August 15, 2019, 01:38:08 PM
 #310

That 3900x is a beauty (on paper anyway).  I have a feeling it's going to be rather popular once Monero finishes their fork to RandomX.

With  no tweaking or turning it does  1090-1125 for xmr    running at 67%


this is it with 2 1660ti


https://old.nicehash.com/miner/1JdC6Xg3ajT3rge3FgPNSYYFpmf53Vbtje

I have been busy have not tested it much the last day.


But  It is a  better then the threadripper 1920x


It uses 2.4 kwatts a day to earn 45 cents.

while that seems poor it is turning a profit of 21cents  I think  the new fork will help that alot.



I think I need to do this:

not my work found a link to  paste bin

https://steemit.com/monero/@joshmocek/how-to-mine-monero-on-your-cpu-for-windows

https://pastebin.com/5bmtnSp7


"/*
 * LARGE PAGE SUPPORT
 * Large pages need a properly set up OS. It can be difficult if you are not used to systems administation,
 * but the performace results are worth the trouble - you will get around 20% boost. Slow memory mode is
 * meant as a backup, you won't get stellar results there. If you are running into trouble, especially
 * on Windows, please read the common issues in the README.
 *
 * By default we will try to allocate large pages. This means you need to "Run As Administrator" on Windows.
 * You need to edit your system's group policies to enable locking large pages. Here are the steps from MSDN
 *
 * 1. On the Start menu, click Run. In the Open box, type gpedit.msc.
 * 2. On the Local Group Policy Editor console, expand Computer Configuration, and then expand Windows Settings.
 * 3. Expand Security Settings, and then expand Local Policies.
 * 4. Select the User Rights Assignment folder.
 * 5. The policies will be displayed in the details pane.
 * 6. In the pane, double-click Lock pages in memory.
 * 7. In the Local Security Setting – Lock pages in memory dialog box, click Add User or Group.
 * 8. In the Select Users, Service Accounts, or Groups dialog box, add an account that you will run the miner on
 * 9. Reboot for change to take effect.
 *
 * Windows also tends to fragment memory a lot. If you are running on a system with 4-8GB of RAM you might need
 * to switch off all the auto-start applications and reboot to have a large enough chunk of contiguous memory. ..."

not sure if nicehash does it in configuration  I get 1095 hash with the 3900x   some claim hash as high as 1300

https://www.hashrates.com/cpus/amd-ryzen-9-3900x-12-core-processor-24-3.80/



randomx will be over 11000

https://cryptoage.com/en/1712-amd-ryzen-r9-3900x-and-r7-3700x-showed-a-high-hashrate-on-the-mining-algorithm-randomx-monero.html

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August 15, 2019, 01:47:11 PM
 #311

Everyone and their mother is buying 3900x CPUs now. They're hard to get by. So imo XMR profitability will be hammered from day 1. Add ETH finally seeming to want to go PoS early 2020 (as I read somewhere - confirmation needed), we're going to face a hard time, as GPU miners.



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August 15, 2019, 04:56:17 PM
Last edit: August 15, 2019, 06:05:15 PM by herrdrone
Merited by vapourminer (1)
 #312

Everyone and their mother is buying 3900x CPUs now. They're hard to get by. So imo XMR profitability will be hammered from day 1. Add ETH finally seeming to want to go PoS early 2020 (as I read somewhere - confirmation needed), we're going to face a hard time, as GPU miners.

Just 3900X will be getting +12000 H/s on RandomX (https://randomx.monerobenchmarks.info/shareExportCPU.php?s=VFRkWlJVRkJQVDA9)

EPYC 7742 is three time that, above +38000 H/s (https://www.reddit.com/r/MoneroMining/comments/cqqt12/amd_epyc_7742_randomx_hashrate/)

Edit: It is possible for GPU to mine RandomX too, but performance not even close to CPUs:
(NVIDIA) https://github.com/SChernykh/RandomX_CUDA#randomx-cuda-implementation
(AMD) https://github.com/SChernykh/RandomX_OpenCL#randomx-opencl-implementation

RandomX BENCHMARKS FOR MONERO MINING-> https://monerobenchmarks.info
ETH BENCHMARKS-> https://ethereumbenchmarks.info/
RAVENCOIN BENCHMARKS-> https://ravencoinhashrate.space/
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August 15, 2019, 06:51:32 PM
Last edit: September 18, 2019, 10:12:56 PM by mprep
 #313

yeah but

 the amd ryzen 9 3900x is 500 bucks  doing 12000 for randomx
 the amd eypc 7742 is 7200 bucks doing 36000 for randomx

I could ge 4 3900x for 2000 and  have 48000   vs 1 eypc for 7200 bucks doing 36000




I just did my large page setting for the amd ryzen 9 3900x and I went from  1090 to 1175  stock clocks  this is a good pc for 500 bucks

you can get a good mobo for well under 175


https://www.newegg.com/p/N82E16813157884?Description=asrock%20x570&cm_re=asrock_x570-_-13-157-884-_-Product

and use an nvme2 like this

https://www.newegg.com/hp-ex920-512gb/p/N82E16820326779?

and2 sticks of ram


https://www.newegg.com/g-skill-32gb-288-pin-ddr4-sdram/p/N82E16820232091?Item=N82E16820232091&Description=ddr4%203200&cm_re=ddr4_3200-_-20-232-091-_-Product


so

500 cpu                       ryzen 9 3900x
145 mobo                    asrock x570
  69 nvme ssd              500gb ssd
 135 ram                     2x 16gb sticks at 3200 speed

849 net  add a psu and any old card   you are about 1000- 1050


 you could build 6 of these   say 6000-6300


  the one eypc cpu alone is over  7200  https://www.newegg.com/p/N82E16819113581




Playing with newest nicehash  I can get 1450 for xmr  with the 3900x.  Runs hot. I purchased 1 last part a water cooler Corsair h115i


Should keep gear cool.


https://www.bestbuy.com/site/corsair-hydro-series-h115i-rgb-platinum-140mm-processor-liquid-cooling-system-with-rgb-lighting-black-silver/6306565.p?skuId=6306565

I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
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August 17, 2019, 11:46:43 AM
 #314

Playing with newest nicehash  I can get 1450 for xmr  with the 3900x.  Runs hot. I purchased 1 last part a water cooler Corsair h115i


Should keep gear cool.


https://www.bestbuy.com/site/corsair-hydro-series-h115i-rgb-platinum-140mm-processor-liquid-cooling-system-with-rgb-lighting-black-silver/6306565.p?skuId=6306565

Phil what gear are you running these days?

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August 17, 2019, 12:09:57 PM
Last edit: August 18, 2019, 12:29:10 AM by philipma1957
 #315

Playing with newest nicehash  I can get 1450 for xmr  with the 3900x.  Runs hot. I purchased 1 last part a water cooler Corsair h115i


Should keep gear cool.


https://www.bestbuy.com/site/corsair-hydro-series-h115i-rgb-platinum-140mm-processor-liquid-cooling-system-with-rgb-lighting-black-silver/6306565.p?skuId=6306565

Phil what gear are you running these days?

I am a 25% share holder in the coins mined in clifton nj
BuySolar has 25% of the coins
Warehouse owner get 50% of the coins

the mining gear owned by me and buysolar 50-50

bitmain gear
1---s17 pro
1---t17
1---s15
1---t15
22--s9

25--- l3+

whatsminer gear
2 m20s
1 m21s
8 m10 units

avalon
2 a1041
1 a721

innosilicon
1 t2-t24
1 t3-t39

a pair of s9 on order due next month
a inno t3-t50 on order due this month


12 1080ti's some in clifton some at a friend's office

1 threadripper rig with 4 vega's

newest rig is the ryzen 9 3900x  

a r606
some newpacs
2 Apollo's


thats about all I can think of

I will be selling my share of clifton mine to buysolar in dec
I will be moving other gear out

By jan  I want to have:
3 gpu rigs at friends office
1 gpu rig at buysolar's office

1 gpu rig at home the ryzen  9 3900x

 I will taking a 1 year leave of absence from mining or selling gear all of 2020.

the 3 rigs at my friends office will be a 0-100 coin split  as I will sell my friend those rigs.
the 1 rig at buysolar's will be a 0-100 coin split as I will give that to him for his kids.

the ryzen 9 3900x will be a test rig for all of 2020 and I will be making my own design of a modified m10 a 1 board design that is not loud.



Slugging through my 2018 taxes

"BTC-USD SELL 2018-04-27 00:09:40 0.00017048 9238.55 0.004724964012 USD + 1.570263039988 USD
 BTC-USD SELL 2018-04-27 00:09:40 0.00700000 9238.55 0.19400955 USD + 64.47584045 USD
 BTC-USD SELL 2018-04-27 00:09:40 0.00196000 9238.55 0.054322674 USD + 18.053235326 USD
 BTC-USD SELL 2018-04-27 00:09:40 0.00967289 9237.50 0.268059964125 USD + 89.085261410875 USD
 BTC-USD SELL 2018-04-27 00:09:40 0.03000000 9237.00 0.83133 USD + 276.27867 USD
 BTC-USD SELL 2018-04-27 00:09:40 0.00800000 9236.99 0.22168776 USD + 73.67423224 USD
 BTC-USD SELL 2018-04-27 00:09:40 0.00100000 9236.25 0.02770875 USD + 9.20854125 USD
 BTC-USD SELL 2018-04-27 00:09:40 0.01000000 9236.25 0.2770875 USD + 92.0854125 USD
 BTC-USD SELL 2018-04-27 00:09:40 0.00541126 9235.37 0.1499249647986 USD + 49.8250633014014 USD
 BTC-USD SELL 2018-04-27 00:09:40 0.05000000 9235.18 1.385277 USD + 460.373723 USD
 BTC-USD SELL 2018-04-27 00:09:40 0.00984903 9234.59 0.2728552618431 USD + 90.6788986858569 USD
 BTC-USD SELL 2018-04-27 00:09:40 0.00253176 9234.59 0.0701392967352 USD + 23.3096262816648 USD
 BTC-USD SELL 2018-04-27 00:09:40 0.00100000 9234.53 0.02770359 USD + 9.20682641 USD
 BTC-USD SELL 2018-04-27 00:09:40 0.03000000 9234.00 0.83106 USD + 276.18894 USD
 BTC-USD SELL 2018-04-27 00:09:40 0.00992139 9233.90 0.274839369363 USD + 91.338283751637 USD
 BTC-USD SELL 2018-04-27 00:09:40 0.01500000 9233.48 0.4155066 USD + 138.0866934 USD
 BTC-USD SELL 2018-04-27 00:09:40 0.00264873 9233.35 0.0733699534365 USD + 24.3832811920635 USD
 BTC-USD SELL 2018-04-27 00:09:40 0.00583446 9233.16 0.1616115080808 USD + 53.7088911855192 USD"


above is my april 27  2018  btc coins sales from coinbase


Above  is just part of why  it will be too hard for me to continue my current business.

Notice 18 lines all with same time stamp  but multiple  prices.  This was a sale of gpus for btc.


I sold gpus got coins put them in coinbase.
 moved them to gdax to sell them for cash
 moved cash back to  coinbase.
 and sent  cash to  bank account.

old method was set correct cost of the gpus.  say 1500   report sales  say 1866 = 366 gross profit  report profit to irs.

irs wants every coin movement to show.

ie 1) coins sent from buy to me in coinbase  report  say .2 btc worth say 1866
    2)coins shifted to gdax
    3) actual sale of the coin  note gdax can sell as little as 0.001 so  my .2000  was split into 17 sales see above  it could have been 200 sales
    3-20) lines of info for that deal.
    4)next show cash went to coinbase
    5)show cash went to bank

then  show cost of gpus  say 1500  sold for  1866 profit of  366 report to irs.


I have many sales  of .1 btc that are 15 or 20 lines of info all must be reported.

I did 3 sales in April  instead of 3 lines to show income  I will need 37 lines.

So I am being forced on 1  sale  of .2 btc to show  17 trades made by gdax some as low as 1.57 usd

while on my end I listed .2 btc to sell at market value.    in both cases i made 366 profit

 my method  was fast easy and accurate   irs method is fuck you phil . you are an honest moron and you are now going out of business due to our i reporting requirements.

I could have avoided this if I never cash coins but  i  coin cashed to buy new gear and pay expenses.

I am particularly annoyed that the single sale of .2 btc done in 1 shot in 1 second made 17 entries

I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
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August 18, 2019, 12:32:01 PM
 #316

Phil, is there no way you could show the trade averages in your reporting to the irs whilst just copy/pasting the splits in an attachment? Let them do the rec work. You should report the trades you did, not the split executions.

Worth getting tax advice imo. What you wrote above sounds absolutely ludicrous to me.



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judypug1956
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August 18, 2019, 01:51:51 PM
Merited by vapourminer (1)
 #317

Phil, is there no way you could show the trade averages in your reporting to the irs whilst just copy/pasting the splits in an attachment? Let them do the rec work. You should report the trades you did, not the split executions.

Worth getting tax advice imo. What you wrote above sounds absolutely ludicrous to me.

I did what you suggested sent in 100 pages with summaries for BTC LTC ETH BCH filed in April 2019.


And that is what got me the letter.

I could hire a guy but I have an accounting degree. My wife my late mom and myself have worked for the IRS.

I can do the work needed to report this the way they want.  My complaint is not for myself as I can see the requirements are actually not wrong but they are a huge burden to me.

If I had known they would ask for this info I would not have done any btc sales of gear. What happened in my case was I sent coins to cash as a basic pass through.

So my tax owed was paid but my method of handling the funds requires way too much in the form of entries that they like.


The example above was a sale of some gpus.

I got .2 btc  I sent to my forum addy:

1Jxxxxx
then sent to coinbase
then sent to gdax
then sold
then sent cash to coinbase
then sent cash to bank

the sales was about 1866 usd

the gpus cost me 2000 I mined with them earned 750 spent 200 in power spent 50 to ship

so

 2000
  -750 mining income
 1250
 +200 power cost
  1450
    +50  shipping
1500 cost of good sold    this is correct  I put this on return

  1866 in coin recieved    this is correct I put this on return

profit  is 1866-1500 = 366 taxable income this is correct I put this on the return

the issue they have is how I moved that .2 btc around

btc addy 1Jxxx
coinbase account
gdax to cash   this is the 17 lines of info
back to coinbase account
into bank account.


I just have to create reports that show that movement.  If I had used a different service it would have been easier.
If I did

payment to a coinbase account
convert to cash
send to bank

It would have been easier.
If I hire a guy he may not be that good at the reports as they are new.
I don't owe money most likely they will owe me money as I did not list all sales of coins fees.


In 2018  I moved about 90000usd in coin at a cap gains loss of 3000  my gpus and gear sales did about 4000 profit.  The 2018 return will end up being hundreds of pages long and show well under 5000 profit.

The return I sent them was over 100 pages and showed well under 5000 profit.

Once I get this mess done I need to do the 2019 return.  This shit is pretty fucked up because I did not realize what they were going to require to make reports.

I am using bitcoin.tax soft ware.

I will need to work on this every day for a few hours until late sept to file an amended return.  which will offer a lot of extra info that  will show less then a 500usd difference in tax liability.

I will then work on the 2019 return  and I will take as long as I can to file it as I want to feel that the 2018 return is done.


1956jUdYPFwiBSzt9AECdWj3KE4WV7taiM I can't do 1957philma.. for btc address the i are not allowed This is a secondary account for Philipma1957, don't do business with this account deal with philipma1957
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August 18, 2019, 01:59:55 PM
 #318

Yeah that's just bat shit crazy.
Maybe you should just call up the guy at the irs and agree with him the whole exercise is actually futile. Waste of both your and his time.

Then again maybe he doesn't care.



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August 18, 2019, 03:01:53 PM
Last edit: August 18, 2019, 03:12:06 PM by philipma1957
 #319

Yeah that's just bat shit crazy.
Maybe you should just call up the guy at the irs and agree with him the whole exercise is actually futile. Waste of both your and his time.

Then again maybe he doesn't care.

Yep  When all is said and done  it will  be 200 to 300 pages each year  for under 5000 profit each year.

When I finish 2018  I will give some totals.

There were other ways  to have done my gpu/gear sales    but I was so small I did a manual system which will now cost me a lot of effort to correct.

It also means I can't sell  much the rest of the year. And that I will do zip in sales for 2020.

By 2021 I will have an idea if it will be over and done  or a bigger mess.

My hope is they see a 200-300 page return  with under 100,000 in coin/cash moving around and a profit under 5,000 for 2018  and just say fuck it.

BTW  coinbase refuses to send me a 1099  basically  they are wrong.  I have more then 200 transactions and 20,000 in coin movement.

But I figure  they can not generate a report via auto software and would need to do what I am doing to make a correct 1099  and for tiny account they are like fuck it.

I have been doing lots of tax research on this and can tell you if you are USA based and move your coins around multiple exchanges and accounts you may end up with an insane amount of paperwork for very little profit.

I don't know how much  any exchange  splits a sale or buy of btc other then gdax/coinbase.pro  which is where I started the new return.
I don't know if other software works better then bitcoin.tax

But  I have this knowledge a 1 btc sale or purchase in 2018 on gdax  could be 1000 x 0.0001 = 1 btc so it is possible  that if you need to report to IRS  5 sales of 1 btc each  you could be pushing  into 1000's of entries  to show only 5 sales in 1 year.

I will be making reports for May to Dec 2018  today. I am curious to see exactly how bad the spliting is.

I see BTC as the super highway and alt coins as taxis and trucks needed to move transactions.
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August 19, 2019, 02:55:25 PM
 #320

I have been doing lots of tax research on this and can tell you if you are USA based and move your coins around multiple exchanges and accounts you may end up with an insane amount of paperwork for very little profit
We're so free it's amazing..  for a system the IRS admits is voluntary  Roll Eyes

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