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re: Official CryptoTalk Thread

Posted on 9/14/21 at 7:08 am to
Posted by Ross
Member since Oct 2007
47827 posts
Posted on 9/14/21 at 7:08 am to
Potential market movers today

CPI data comes out - came in at 5.3% year over year and 0.3% month to month (people are calling this a win because certain sectors are showing an inflation slowdown; I’ve got a feeling the recent PPI reports are going to bleed into future readings and dampen this enthusiasm)

Gensler will be speaking in front of the Senate and saying he thinks crypto exchanges he’s need to register with the SEC for selling securities
This post was edited on 9/14/21 at 8:07 am
Posted by boomtown143
Member since May 2019
9407 posts
Posted on 9/14/21 at 8:15 am to
quote:

They're not. Coins ranked from 201-211 on cmc are all ranked incorrectly


Does that make it any more right?

Why would you trust a site that will manually rank certain coins?
This post was edited on 9/14/21 at 8:16 am
Posted by Ron Cheramie
The Cajun Hedgehog
Member since Aug 2016
5572 posts
Posted on 9/14/21 at 8:23 am to
quote:

Why would you trust a site that will manually rank certain coins?


Nomics has every coin listed by its current market cap except for HEX which has its fully diluted market cap Something going on there So I don’t really trust any of them
Posted by boomtown143
Member since May 2019
9407 posts
Posted on 9/14/21 at 8:51 am to
quote:

Nomics has every coin listed by its current market cap except for HEX which has its fully diluted market cap Something going on there So I don’t really trust any of them


They’re all calculated with circulating supply on nomics. What’s the issue? Same exact formula (they don’t have a “team” that determines the “circulating supply” like CMC. Who is owned by the Binance guy).

Is etherscan wrong too bc it shows the same MC as nomics?
Posted by BottomlandBrew
Member since Aug 2010
29367 posts
Posted on 9/14/21 at 9:06 am to
Do any of y'all use a crypto tax software/service and would recommend it? I've always been a hodler, but recently sold some stuff and will continue to sell some stuff. Up until now it's been an easy google docs spreadsheet documenting buys.

And are y'all doing FIFO or HIFO? At first pass, HIFO seems like the better deal.

Posted by Hulkklogan
Baton Rouge, LA
Member since Oct 2010
43482 posts
Posted on 9/14/21 at 9:26 am to
I use Accointing


It connects to APIs for a ton of exchanges and wallets to make it really easy.



As a hodler or even just a trader it should be great.
This post was edited on 9/14/21 at 9:27 am
Posted by 21JumpStreet
Member since Jul 2012
14866 posts
Posted on 9/14/21 at 9:26 am to
Nah nomics has it wrong etherscan and cmc has it right it looks like at 67 billion. Kinda weird why cmc doesn't put it in the top though 10


Just took a look. Everything from 200+ that has a marketcap higher than some in the top 200 are not in the top 200.
This post was edited on 9/14/21 at 9:31 am
Posted by lighter345
Member since Jan 2009
11893 posts
Posted on 9/14/21 at 9:28 am to
I just started a Koinly account last night. Only free one I was aware of to track fully. If you want a tax report I think it’s like $50, but it will tell you your gains/cost basis/roi etc without doing the report.


I did the APIs with my exchange’s but the csv downloads are more accurate. You may have to recategorize some trades(wallet to wallet transfers vs sales).

Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
82088 posts
Posted on 9/14/21 at 9:51 am to
quote:

Do any of y'all use a crypto tax software/service and would recommend it?
I've been using Bitcoin.tax since 2017 and it is great. It saves all my cost basis from previous years so I don't need to upload any of it for current and future years.
quote:

And are y'all doing FIFO or HIFO? At first pass, HIFO seems like the better deal.
I do everything FIFO for simplicity sake
Posted by OneMoreTime
Florida Gulf Coast Fan
Member since Dec 2008
61865 posts
Posted on 9/14/21 at 11:04 am to
So is solana dead?

ETA: 4 hours since the last block
This post was edited on 9/14/21 at 11:09 am
Posted by TheDuke5524
Baton Rouge
Member since Jun 2015
1413 posts
Posted on 9/14/21 at 12:28 pm to
Technical difficulties. Hope they get this fixed ASAP.
Posted by Ross
Member since Oct 2007
47827 posts
Posted on 9/14/21 at 12:30 pm to
Most projects would die with that news but SOL is trading sideways

Near 2/3 of it is staked and most of the rest is likely tied up in NFT plays so it would surprise me to hear SOL has enough believers it can withstand main net issues without dipping hard. Pretty impressive in a way.
Posted by TheDuke5524
Baton Rouge
Member since Jun 2015
1413 posts
Posted on 9/14/21 at 12:37 pm to
I’ve still got my money In it. Refuse to abandon ship in this case and rather them catch this issue and improve it than later down the road when it could be a death sentence.
Posted by dagrippa
Saigon
Member since Nov 2004
12054 posts
Posted on 9/14/21 at 1:51 pm to
I was planning on profit taking some SOL later this week lol
Posted by Ross
Member since Oct 2007
47827 posts
Posted on 9/14/21 at 2:11 pm to
I'm not sure how their so-called "proof of history" works, but this is going to be brought up for a while whenever someone refers to SOL as an ETH killer. It makes you wonder how decentralized it really is when it can just be "turned off".
Posted by boomtown143
Member since May 2019
9407 posts
Posted on 9/14/21 at 2:16 pm to
Posted by Douglas Quaid
Mars
Member since Mar 2010
4120 posts
Posted on 9/14/21 at 2:22 pm to
I believe SOL only has like 50 or 60 nodes with pretty serious hardware requirements. It's not very decentralized...not that many care about such things.

Interested to see how the market processes this.
This post was edited on 9/15/21 at 10:36 pm
Posted by OneMoreTime
Florida Gulf Coast Fan
Member since Dec 2008
61865 posts
Posted on 9/14/21 at 2:48 pm to
quote:

1/ Solana Mainnet Beta encountered a large increase in transaction load which peaked at 400,000 TPS. These transactions flooded the transaction processing queue, and lack of prioritization of network-critical messaging caused the network to start forking.

2/ This forking led to excessive memory consumption, causing some nodes to go offline. Engineers across the ecosystem attempted to stabilize the network, but were unsuccessful.

3/ The validator community elected to coordinate a restart of the network – the community is preparing a new release, and instructions will be posted in Discord.
Posted by TigerTatorTots
The Safeshore
Member since Jul 2009
82088 posts
Posted on 9/14/21 at 3:12 pm to
Sooo why is price not down a lot? Feel like that is a big issue
Posted by down time
space
Member since Oct 2013
1914 posts
Posted on 9/14/21 at 3:12 pm to
This sucks. Last time it jammed up they blamed it on the exchanges.

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