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The SEC declares war against crypto companies, the UK plans to ban NFTs and Airdrops, …
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Elon Musk faces new insider trading charges over Dogecoin, Coinbase says AI can benefit crypto …
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The post 🔴 NFTs Choking Bitcoin | This Week in Crypto – May 29, 2023 appeared first on 99 Bitcoins.
AI tokens surges, Binance launches NFT loans and one of crypto’s biggest haters makes a …
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Some people offered using a completely offline computer to people who were frustrated with their ledgers and presented solutions like this https://electrum.readthedocs.io/en/latest/coldstorage.html But I was wondering if it would work well to use an offline computer AND a signing device like the coldcard. I know this is pretty much like two of the same things, but then this way I do not have to put as much faith into my coldcard and I do not have to put as much faith in my abilities to set up a perfect offline computer solution. I also have seen it recommended to use a different computer for bitcoin only anyways even if you are connect it to the internet so that it doesn't likely have malware from everyday use. https://bitcoinmagazine.com/technical/why-use-a-computer-meant-for-bitcoin
Trying to understand tax implications (if any) for BTC gifts or "anonymised" wallets.
Let's say I received 1 BTC from someone who bought using an exchange at 40K USD. Do I pay taxes on that BTC as a gift of 40K?
Further down the line after running it through mixers and such, I decide to sell it at 30K from an exchange, and I assume the exchange reports this transaction to the IRS. This taxable event is triggered but how does the IRS know it's considered a loss? And moreover, if I didn't have the knowledge of what the gift was valued at, how would I know to report it as realized gains/losses?
Thanks for any and all info.
