CoinTracker raises $1.5M to make tracking cryptocurrency investments easy • Hacker News Board

Re: CoinTracker raises $1.5M to make tracking cryptocurrency investments easy

#51

Post by berberous » Tue, Apr 10, 2018, 7:14 PM UTC

gonzoflip wrote: post #46

BenElgar wrote: post #35

Earlier quoted context omitted.

Why is that a golden rule? Genuine curiosity.

I believe people say that because by announcing your digital assets you are making yourself a target and raising the opportunity benefit of compromising your computer and/or web accounts.

That's a great point. Imagine if one of these sites got hacked. A hacker could literally walk away with a list of emails, each exchange on which that person has an account, and a list of assets. Time to sort by most valuable account, and go spear phishing...

Re: CoinTracker raises $1.5M to make tracking cryptocurrency investments easy

#52

Post by mihaifm » Tue, Apr 10, 2018, 7:21 PM UTC

criddell wrote: post #5

Investments? When you buy a crypto currency, what are you investing in?

It's the same as with other investments. You're putting some money in, with the hope that the thing you buy will appreciate in the future.

When you buy stocks what exactly do you buy? Some stake in a company? Nonsense. You're just hoping that company will do well and your stock will appreciate.

Sure you can invest in commodities like oil or gold. Does that mean that an oil tank will be delivered to you door? No. You're just creating a virtual position with that commodity, hoping to close it later at a better price.

Same with crypto currencies.

Re: CoinTracker raises $1.5M to make tracking cryptocurrency investments easy

#53

Post by [deleted] » Tue, Apr 10, 2018, 7:24 PM UTC

lemoncucumber wrote: post #27

chanfest22 wrote: post #13

Earlier quoted context omitted.

(co-founder of CoinTracker here). CoinTracking is indeed a great tool. That said we have also made a lot of progress over the last several weeks and now support unlimited free tracking with auto-syncing (no yearly fee!). We'd love for you to take another look at https://www.cointracker.io and see how we can improve further.

I used CoinTracker this year to help me figure out how to report cryptocurrency on my taxes, and felt like it was a total ripoff. $50 for a two line csv file? Give me a break.

[deleted]

Re: CoinTracker raises $1.5M to make tracking cryptocurrency investments easy

#54

Post by cft » Tue, Apr 10, 2018, 7:38 PM UTC

_fs wrote: post #7

I tried it before and found https://cointracking.info/ much more useful in nearly all comparisons. Better tax info and preperation, better syncing, more supported sync targets, faster updates, more tracked coins, and better stats pages. And this is all on the free version of coointracking. If you pay the yearly fee, the auto syncing and auto-wallet sync is a huge standout.

Does cointracking generate 8949 statements when you have >100k transactions?

Re: CoinTracker raises $1.5M to make tracking cryptocurrency investments easy

#55

Post by banderman » Tue, Apr 10, 2018, 7:42 PM UTC

cft wrote: post #45

weavie wrote: post #42

Earlier quoted context omitted.

In your opinion, what is the probability of that happening?

In my opinion, it will happen around 2040 with almost certainty, but probably in the form of hyperinflation out of debt, rather than actual default.

Are there specific reasons for that particular date?

Re: CoinTracker raises $1.5M to make tracking cryptocurrency investments easy

#56

Post by iblaine » Tue, Apr 10, 2018, 7:43 PM UTC

I wish people would refer to crypto as a service and not an investment. The goal of these alt coins is to enable services. People are doing a disservice to the industry by referring to them or using them as an investment.

Re: CoinTracker raises $1.5M to make tracking cryptocurrency investments easy

#57

Post by jumpbug » Tue, Apr 10, 2018, 7:45 PM UTC

iblaine wrote: post #56

I wish people would refer to crypto as a service and not an investment. The goal of these alt coins is to enable services. People are doing a disservice to the industry by referring to them or using them as an investment.

ideally that would be true, but 95% of the people i know who have bought cryptocurrency have bought it for the investment.

Re: CoinTracker raises $1.5M to make tracking cryptocurrency investments easy

#58

Post by stouset » Tue, Apr 10, 2018, 7:47 PM UTC

jumpbug wrote: post #57

iblaine wrote: post #56

I wish people would refer to crypto as a service and not an investment. The goal of these alt coins is to enable services. People are doing a disservice to the industry by referring to them or using them as an investment.

ideally that would be true, but 95% of the people i know who have bought cryptocurrency have bought it for the investment.

And do you not see why this is a problem?

Re: CoinTracker raises $1.5M to make tracking cryptocurrency investments easy

#59

Post by hyprCoin » Tue, Apr 10, 2018, 8:04 PM UTC

criddell wrote: post #5

Investments? When you buy a crypto currency, what are you investing in?

For platforms, I invest to get a discount on apps I intend to release. SONM falls into this category and is one of my largest holdings.

Re: CoinTracker raises $1.5M to make tracking cryptocurrency investments easy

#60

Post by synthmeat » Tue, Apr 10, 2018, 8:08 PM UTC

flashmob wrote: post #31

These coin/porfolio trackers are a privacy nightmare. You're basically telling some stranger your detailed crypto finances, and it's unknown how your data may be used. One of the golden rules in crypto is to never disclose your holdings to anyone on the internet, yet people are using these apps without a second thought!

Meh. It can be done pretty damn good. †[1]

† Not affiliated in any way.

[1] https://www.cryptocompare.com/portfolio-public/