This is actually fantastic, I can mine a coin with an inflated value and if the value tanks I can claim the loss in excess of my electricity cost on my taxes. TIME TO EXPERIMENT WITH MORE COINS!
I donated to that
Buy buy buy
Just saw this too.Dont want to start a mess,
but just saw this on Reddit
http://www.reddit.com/r/CryptoMarke...r_of_cryptorushin_threatens_to_kill/?sort=top
Time to abandon cryptorush before it pulls a Gox, maybe..?
Just saw this too.
Hello, my name is DogeyMcDoge, I worked support for Cryptorush
Hah! I wonder if I can write off my losses in mt.gox going belly up...
And, I'm sure there are people who would say "it's bitcoins, ignore the taxes" but I've paid all of my legal taxes over the years and I fully intend to continue doing so - I pay as little as I can by taking advantage of any credits and deductions that I can, but I pay what I legally owe because I try to live my life as an honest person... but in this case my problem is that I'm not sure how to do it.
It's my belief this is their whole point. Lets "legitimize" Bitcoins by telling the public they can trade in them. But.... Lets make it so goddamn hard/confusing that no one will want to fool with it.
My BTC is stuck at Cryptorush. Been trying to withdraw since 10am. GG! There goes $10.
I was trading and selling TenFivecoins. If I sent them to my wallet every time I traded, I'd have nothing due to the fees that Cryptorush charges.Dunno how many times this can be said, but never, under any circumstances, ever, leave currency in an Exchange. If you do, consider it lost. Trade your shit and get it on a wallet immediately or you only have yourself to blame.
Exchange's are not banks. Treating them like one is asking to lose your crypto.
I am pretty sure you can for 2014 (ie. next years not this years) taxes since the bankruptcy happened in 2014. I'm planning on doing it. I was going to treat it similar to what I do with capital gains losses. Basically subtract it from my overall gains for this year.
I'm still trying to figure out how I'm going to even factor in bitcoins into my 2013 taxes. It's easy to calculate what I've cashed out and used to buy things and it's ridiculously difficult for me to figure out my daily basis for all the microtransactions from mining... although I was thinking that I could write a Perl script to pull the data on daily prices and then pull in my wallet deposits and then somehow cross-check them to get my basis and go from there.
And, I'm sure there are people who would say "it's bitcoins, ignore the taxes" but I've paid all of my legal taxes over the years and I fully intend to continue doing so - I pay as little as I can by taking advantage of any credits and deductions that I can, but I pay what I legally owe because I try to live my life as an honest person... but in this case my problem is that I'm not sure how to do it.
My BTC is stuck at Cryptorush. Been trying to withdraw since 10am. GG! There goes $10.