Who would imagine that mining cryptocurrencies and agriculture can work together? The first batch of cryptomatoes is ready to be harvested. We are using the excess heat for the tomato greenhouse and it is working:-)

Who would imagine that mining cryptocurrencies and agriculture can work together? The first batch of cryptomatoes is ready to be harvested. We are using the excess heat for the tomato greenhouse and it is working:-) submitted by /u/a56fg4bjgm345
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Bitcoin – The Currency of the Internet

We are three CPAs ready to answer your tax-related cryptocurrency questions. Ask Us Anything…

Hi r/bitcoin, it’s almost tax time! Are you prepared?

We are three Certified Public Accountants ready to answer your tax-related cryptocurrency questions. Ask Us Anything…

About us: We are Dennis, Josh, and David from Perelson Weiner LLP, a boutique accounting firm located in New York City. Our firm is dedicated to helping high-net worth individuals, their families and their businesses, both domestic and foreign. Perelson Weiner has been named by INSIDE Public Accounting, for the third year in a row, one of the Fifty Best of the Best of firms in the United States. For more information, please visit www.pwcpa.com.

The scope of this AMA: 2017 was an incredible year for cryptocurrency traders. We are here to educate you about US TAXATION of cryptocurrency and discuss ideas to help you keep more of your money in your pocket.

Please try to ask your questions in a more general way, if possible. For example, “What is the difference between a short-term capital gain and a long-term capital gain and how is each taxed?” as opposed to asking “I have this coin which I bought for $ X on this date and I sold it at this price on this date. How much tax do I owe?”

Disclaimer: Any accounting, business or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. If desired, Perelson Weiner LLP would be pleased to perform the requisite research and provide you with a detailed written analysis. The terms will be the subject of a formal engagement letter that defines the scope of the desired consultation services. Please send your follow up requests to crypto@pwcpa.com.

Topics we can discuss: -Tax treatment of transactions -Tax treatment of forks -Determining and tracking your basis -Mining and related expenses -Foreign asset reporting

submitted by /u/PWCPAs
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Bitcoin – The Currency of the Internet

Moon Math Update: Bitcoin is ready to grow again

Go to http://moonmath.win for the full update and rainbow charts

I've said this before: When I get quiet, it's time to accumulate. I've been quiet. Before I went quiet I suggested it was a good time to DCA into a position. The jury is far from out on that, but I think moon math is tracking pretty well with this retrace.

Moon Math takes a long-term bull perspective. It doesn't say "Insane awesome returns forever!" Instead, it invites you to consider our current price position against past trends. I know for a fact that some people look at the rainbow charts and think "Oh boy, we're in the red and it's only up from here." That's insane. Don't do that again. Projecting the price based on the trend from the ATH isn't going to work out for anyone. The Moon Math we're seeing today is probably a better projector of performance than any time in the last several months (I'll get that time travel feature done someday).

Is this retrace over? I'm going to shout an unsatisfying and resounding "possibly" on this. Part of the reason that I haven't been posting is that my position on this hasn't changed. "Possibly" and "no change" is a boring answer, but I'll spice it up for you a little today, because the outlook has improved from when I last posted.

BBands are tightening.

BBands have been tightening for a while, and we're going to start seeing tight BBands on the 12-hour chart soon. Bitcoin is volatile. BBands like this predict a move in one direction or the other. A direction for the price will be more firmly established in the next five days. If it breaks down I expect slower growth over the next four to six months as well as significantly less volatility. If we break up, then I think we’ll see continued parabolic growth on the log chart and a new ATH in the next month. Clearly, I think that the price breaking down one more time will be good for Bitcoin long-term.

We can sustain BBands this tight for months at a time. Observe the 12-hour bands In April through June in 2017. That pattern shows the price doubling in 2 months. So, nothing definitive there. Having a direction doesn't mean we'll have a big change in price, though.

Bouncing off the bottom of our short-term trend

We've bounced off the bottom of our short-term trend 4 times in the last two weeks with decreasing bear volume. That indicates that there's a lot of support at the bottom of our trend. The drop in volume shows that bears are running out of supply.

The short-term up trend is sustainable

The slope of our short-term trend is only slightly greater than the 6-month trend. IMO, fundamentals show that it's possible to maintain that trend indefinitely. That's true of a rational market, anyway.

Local Bitcoins Volume is growing

Volume at Local Bitcoins is about 5x to 6x what it was this time last year. I'm not sure they can bust at the seams like that for another year, but linear growth from here seems like a conservative expectation for at least the next year. I suspect we're going to see about 40 to 80 million USD a day flow into Bitcoin through Local Bitcoins by the end of 2018. That will be an important metric used to analyze our entrance into a pre-halving market through 2019.

Sentiment is as low as we've seen in a while

Consider the price and infrastructure of Bitcoin today vs six months ago. Consider the attacks we've flourished through. It's normal to see sentiment turn against Bitcoin. If it didn't we'd see unstainable growth and even more volatility. If you bet against the crowd, now is the time to make a bet.

Going back into my hole and shutting up while I'm proven right, again. Maybe I'll check in again later this week.

Good hunting

Go to http://moonmath.win for the full update and rainbow charts

Label 7-day Performance 30-day Performance 60-day Performance 90-day Performance 2017 – Present Performance 2016 – Present Performance 2015 – Present Performance 2014 – Present Performance 2013 – Present Performance 2012 – Present Performance 2011 – Present Performance July 2010 – Present Performance
Starting Price USD $ 11,522.86 $ 14,427.87 $ 9,816.35 $ 6,121.80 $ 997.69 $ 434.46 $ 313.92 $ 770.44 $ 13.30 $ 5.27 $ 0.30 $ 0.09
Compounding Daily Periodic Rate 0.21% -0.70% 0.29% 0.72% 0.63% 0.44% 0.32% 0.18% 0.37% 0.35% 0.41% 0.43%
Over $ 20,000.00 on 2018-10-08 Never!!! 2018-07-30 2018-04-12 2018-04-21 2018-05-29 2018-07-11 2018-11-15 2018-06-20 2018-06-27 2018-06-02 2018-05-26
Over $ 31,622.78 on 2019-05-13 Never!!! 2019-01-03 2018-06-14 2018-07-03 2018-09-11 2018-11-30 2019-07-24 2018-10-23 2018-11-06 2018-09-22 2018-09-10
Over $ 100,000.00 on 2020-11-08 Never!!! 2020-02-01 2018-11-21 2019-01-02 2019-06-03 2019-11-22 2021-04-13 2019-09-02 2019-10-03 2019-06-30 2019-06-04
Over $ 1,000,000.00 on 2023-11-02 Never!!! 2022-03-30 2019-10-06 2020-01-03 2020-11-13 2021-11-04 2024-09-23 2021-05-22 2021-07-26 2021-01-11 2020-11-20

submitted by /u/jarederaj
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Bitcoin – The Currency of the Internet

Russia Ready for Migrant Bitcoin Miners Influx (news.bitcoin.com)

Despite some indecisiveness about cryptocurrencies on the part of centralized power, Russia has been quietly preparing for a wave of migrant crypto miners from East and West. It’s been said that the country has got what it takes to invite them. A third of the Soviet era power producing capacity is idling, after energy hungry industries were closed and scrapped in the 90’s. Experts, home and abroad, members of the local crypto community, all agree – Russia is ready to welcome bitcoin

Bitcoin

Imagine: Is bitcoin's promise of a universal currency ready for prime time?

Janne Lindqvist, assistant professor of electrical and computer engineering at Rutgers University and a member of WINLAB, said it's not surprising that many people are still perplexed it. “Bitcoin and cryptocurrencies in general are not trivial or easy to understand. But at the same time, it's not like many …
Google Alert – bitcoin

'Bitcoin Jesus' says investors should be ready in case bitcoin falls out of favor

Roger Ver, CEO of Bitcoin.com, said on CNBC's "Fast Money" that for years he's recommended investors not hold bitcoin on exchanges, which can be hacked. But right now, he said, investors may want to keep their holdings on an exchange so they can easily transfer their funds into another digital coin …
Google Alert – bitcoin