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Alleviate your cryptocurrency tax headaches

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Welcome to The Block. I’m Jeremiah Lewis, crypto-enthusiast and early adopter. This is a weekly email
 

The Block

February 19 · Issue #17 · View online
Weekly curated #cryptocurrency news and commentary.

Welcome to The Block. I’m Jeremiah Lewis, crypto-enthusiast and early adopter. This is a weekly email digest comprising one or two short topical essays followed by a manageable collection of curated links.
If you know anyone who’d be interested in this kind of content, forward this email, or they can subscribe here. I love feedback, so don’t hesitate to email me.

Tax Headache Alleviation
Last week I wrote about cryptocurrency trading tax rules and what a major pain in the betty boop they are to calculate. What I didn’t offer you was a way to potentially make doing those arduous tax calculations easier so you don’t tear your face off in frustration.
My bad.
Rather than leave you hanging, here’s a referral link to Cointracking.info. I know, the .info domain makes it seem like it’s owned by a Nigerian prince, and the website needs a pretty serious redesign, but this is a legitimate service that uses historical price data along with API connectivity with major exchanges (they also take import files or manual input) to calculate all your cost-bases and profit-loss data for every coin trade you’ve ever made.
Yes, it’s a referral link, so if you upgrade your account with it, I get a little somethin’ somethin’, and you get 10% off subscription costs. Not bad for a little piece of mind come April 15.
You can also check out Bitcoin.tax, which I can’t vouch for, but I’ve heard decent things about it, though I don’t think it has quite the feature-set that Cointracking.info does.
In government oversight news, this is big for multiple reasons:
Even Republicans, normally opposed to government intervention in the free market, are starting to notice that people get dumb when potential money gets big, leading to horrible decisions and even worse outcomes.
It will be interesting to see what the normally slow-moving (technologically speaking) Congress does and how well it corresponds to the constraints and attributes of cryptocurrency. I find many regulations often miss the mark because the legislators don’t have a complete grasp of the thing they are attempting to regulate.
It’s also clear from Senate hearings a couple weeks ago that smart people in government are aware of cryptocurrency’s disruptive nature and potential for innovation in a wide swath of industries, so in all, this still leaves me feeling bullish and optimistic.
Meanwhile, someone else is definitely feeling bullish…
Mysterious investor buys $344 million Bitcoin during cryptocurrency slump
India’s been pretty bearish on crypocurrency, with significant crackdowns on exchanges and ICOs and notable media criticism (like calling them Ponzi schemes), but this may be a signal that India’s tune is changing.
PMO India
Disruptive technologies such as Block-chain and the Internet of Things, will have a profound impact in the way we live and work. They will require rapid adaptation in our workplaces: PM @narendramodi
And related, here is a series of links about the economic consequences of the blockchain and decentralization.
Can blockchains reduce social inequality?
Would the blockchain increase inequality?
Blockchain and inequality
How blockchains could change the world
Links of Note
Anarchist cryptocurrency hacker Amir Taaki says bitcoin is in a speculative bubble
Bitcoin mining moves to Iceland
Fear not, China is not banning cryptocurrency
The 11 Golden Rules of Crypto Trading
Peter Thiel: AI is Communist
Wrap Up
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