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Launch HN: CoinTracker (YC W18) – Cryptocurrency portfolio and tax manager

news.ycombinator.com

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Re: Launch HN: CoinTracker (YC W18) – Cryptocurrency portfolio and tax manager

#141

Post by wtvanhest »

a_d wrote: post #14

1. Cryptocurrencies as an asset class has a broad spectrum of "investors" - tech-savvy millennials, high-net-worth individuals, family offices, financial advisors on behalf of clients, sophisticated hedge funds and a ton of "regular folks" (e.g. moms putting a bit of their savings). Any effort that builds tools to navigate this space is a good direction. 2. Crypto bubble is unique because institutions are the last on…

I have no idea if we have a real 'bubble', but... basically no institutions have meaningful exposure.

Re: Launch HN: CoinTracker (YC W18) – Cryptocurrency portfolio and tax manager

#142

Post by jonlerner »

tommygunz99 wrote: post #135

My use case is also tax reporting. Like others I’m getting numbers I suspect to be inaccurate. I think the flaw may be this: I assume you’re calculating cost basis and gains on a broad set of the cryptocurrencies (including Neo, Ripple, etc) that are traded on these exchanges. But when the coins leave the exchange you count it as a sale unless you can see the receiving end of that same transaction in one of the user’…

This is great feedback, and you're totally right about your understanding of the problem. We do rely on having a full picture of all your exchanges and wallets for all the calculations to work correctly. For crypto wallets that we don't support, we recommend for now manually entering the transactions from those wallets. We plan to support more wallets in the near future. We have some more info on this issue in our FAQ: https://www.cointracker.io/faq#cost-basis-wrong

We will also make it clearer to the user when we see there are outgoing transactions that may indicate a missing wallet / exchange.

Re: Launch HN: CoinTracker (YC W18) – Cryptocurrency portfolio and tax manager

#143

Post by asymmetric »

dmichulke wrote: post #134

For those on the opposite side of the privacy and tax spectrum, there is also a portfolio tracker (which I wrote) that is doing the opposite: A static HTML Website where you save your portfolio via a bookmark. - No tracking (no cookies, no emails, no JS* ) - Fast (~ 2 kB download) - Cross-Platform ;-) http://www.cryptoport.net * There is JS on the landing page to generate the link for your portfolio. The portfolio pa…

Nice idea, but you should support HTTPS. People are entering their balances and I for one wouldn’t wanna be snooped!

Re: Launch HN: CoinTracker (YC W18) – Cryptocurrency portfolio and tax manager

#144

Post by mephitix »

dmichulke wrote: post #134

For those on the opposite side of the privacy and tax spectrum, there is also a portfolio tracker (which I wrote) that is doing the opposite: A static HTML Website where you save your portfolio via a bookmark. - No tracking (no cookies, no emails, no JS* ) - Fast (~ 2 kB download) - Cross-Platform ;-) http://www.cryptoport.net * There is JS on the landing page to generate the link for your portfolio. The portfolio pa…

Nice! A single server-generated multi-series chart would be nice but if it takes away from the simplicity then that's fine. If you haven't already seen it you can get volume/price/marketcap between a start/end date. https://graphs2.coinmarketcap.com/currencies/bitcoin/1487234...

Re: Launch HN: CoinTracker (YC W18) – Cryptocurrency portfolio and tax manager

#146

Post by dmichulke »

mephitix wrote: post #144
dmichulke wrote: post #134

For those on the opposite side of the privacy and tax spectrum, there is also a portfolio tracker (which I wrote) that is doing the opposite: A static HTML Website where you save your portfolio via a bookmark. - No tracking (no cookies, no emails, no JS* ) - Fast (~ 2 kB download) - Cross-Platform ;-) http://www.cryptoport.net * There is JS on the landing page to generate the link for your portfolio. The portfolio pa…

Nice! A single server-generated multi-series chart would be nice but if it takes away from the simplicity then that's fine. If you haven't already seen it you can get volume/price/marketcap between a start/end date. https://graphs2.coinmarketcap.com/currencies/bitcoin/1487234...

You mean an image that shows the top X price time series?

If so, I have a few questions:

- On a per-portfolio basis or just for the top 5 coins (+ maybe market cap)?

- update interval should be more like 2 minutes (like the site) or once per day is ok?

- start-time should be how many days back?

From a dev perspective, it would be nice if there were a solution to this that allowed for either A. time series caching (to avoid stressing CMC) or B. image caching (to avoid CPU load, this currently runs on a free gcp instance).

Re: Launch HN: CoinTracker (YC W18) – Cryptocurrency portfolio and tax manager

#147

Post by dmichulke »

asymmetric wrote: post #143
dmichulke wrote: post #134

For those on the opposite side of the privacy and tax spectrum, there is also a portfolio tracker (which I wrote) that is doing the opposite: A static HTML Website where you save your portfolio via a bookmark. - No tracking (no cookies, no emails, no JS* ) - Fast (~ 2 kB download) - Cross-Platform ;-) http://www.cryptoport.net * There is JS on the landing page to generate the link for your portfolio. The portfolio pa…

Nice idea, but you should support HTTPS. People are entering their balances and I for one wouldn’t wanna be snooped!

I fully agree, will probably happen within the next few weeks.

Re: Launch HN: CoinTracker (YC W18) – Cryptocurrency portfolio and tax manager

#148

Post by qwtel »

I wrote my own tool to basically do the same, but it can't handle certain advanced optimisations. Curious if you support the following:

Can you optimise the cost basis under the constraint of coins being in different wallets at different times? (e.g. I have an expensive tranche of coins that would minimise my tax when matched with a certain sell, but those coins were not in the exchange at the time, hence I can't argue that these were the coins I sold) Further, when moving funds between exchanges, can you pick the tranches so that the cost basis gets optimised from sales on that exchange on later trades?

Re: Launch HN: CoinTracker (YC W18) – Cryptocurrency portfolio and tax manager

#150

Post by prophesi »

dmichulke wrote: post #147
asymmetric wrote: post #143

Earlier quoted context omitted.

Nice idea, but you should support HTTPS. People are entering their balances and I for one wouldn’t wanna be snooped!

I fully agree, will probably happen within the next few weeks.

It likely will only take you an hour at most with LetsEncrypt. Why wait that long?
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