Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

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

news.ycombinator.com

Post reply on HN
Print view View original

11–20 of 164 posts

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

#11

Post by dang »

itamarst wrote: post #2

There are no cryptocurrency investors, because cryptocurrencies are not an investment, they are speculation. You have started a company to help people lose money. In the future, kindly use your enthusiasm and skills for something more useful.

This breaks several of the site guidelines: obviously the ones about remaining civil, but also this: "Eschew flamebait. Don't introduce flamewar topics unless you have something genuinely new to say. Avoid unrelated controversies and generic tangents."

Please read https://news.ycombinator.com/newsguidelines.html and take the spirit of this site to heart. It should work like this: if you have a substantive point to make, make it thoughtfully; if you don't, please don't comment until you do.

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

#12

Post by dang »

itamarst wrote: post #5
chanfest22 wrote: post #3

Earlier quoted context omitted.

You may be right — the difference between investing and speculation is a fine line and buying and trading cryptocurrency is definitely risky business. We certainly don't deny that. Some pretty interesting industries have gotten bootstrapped with speculation though, and we are hopeful that more practical applications will develop in the future.

Trains got bootstrapped with speculation... but they were clearly useful before the speculation. Same for the Internet. As you admit yourself, cryptocurrencies are a solution looking for a problem. They do nothing, they provide nothing, they're just—"valuable". It's a scam, thousands of people will lose money, and you will have done your part to help those people lose money.

Now you're breaking another of the site guidelines too: "Please respond to the strongest plausible interpretation of what someone says, not a weaker one that's easier to criticize."

Could you please stop now? You're a fine HN commenter otherwise. It's fine to be skeptical about cryptocurrencies, as many HN users are—but it's not fine to do flamewars or break the site rules.

https://news.ycombinator.com/newsguidelines.html

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

#13

Post by brianprovost »

Just signed up and added an exchange. It looks like for balances, you are using just the "free" amount instead of "free" and "locked". The result is that any bids are not reflected in the balance on CoinTracker.

I have open orders out almost all the time. I'd recommend either using Free + Locked or at least making it an option.

Looks good though, I will definitely use it if it can keep track of all of my trades and accurately reflect my balance.

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

#14

Post by a_d »

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 ones to get in. Retail was first. Consumer tools are an absolute necessity. Although, I wish these apps (incl CoinTracker) came with more warning (about scams) and helped people exercise more discretion (including a warning about too much exposure etc).

3. Taxes are a nightmare. Having a great tool to help with taxes helps everyone sleep better

4. Still in an early, immature, evolving [1] area. CoinTracker can be much more ambitious than their current version. Would love to learn more about the future roadmap.

Congrats on the launch. May the force be with you.

[1] https://blog.ycombinator.com/the-decentralized-future-series...

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

#15

Post by chanfest22 »

hisabness wrote: post #6

I'm a blockchain investor at [redacted] if you want to talk more. Initial thoughts: -A solution in your space is badly needed. Fund administrators really need an option that is better than cointracking.info and coinigy. A lot of these folks are looking at partnering with Libra here in the near future. -your offering as is, is too limited. anyone investing seriously in the space owns a lot more than than the 4 coins a…

Thanks for the kind words! We definitely have a long way to go and lots more features need to be added (and will be soon).

Re: wallets — for local wallets we currently support BTC, LTC, ETH, DOGE, and all ERC20 tokens. Additionally, from manual transactions and exchanges, we support over 2,000 coins and tokens. We'd love your feedback as to which additional features and coins you would find most useful to add to our platform.

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

#16

Post by itamarst »

liquidise wrote: post #8
itamarst wrote: post #2

There are no cryptocurrency investors, because cryptocurrencies are not an investment, they are speculation. You have started a company to help people lose money. In the future, kindly use your enthusiasm and skills for something more useful.

This is a shockingly dismissive comment for the space. I understand that cryptocurrencies are a divisive topic, particularly on HN. Dismissing the hard work of a startup showing off what i believe to be a well-executed marketing page and tool is not only shortsighted, but goes against the very philosophies of Hacker News in general.

Well-executed marketing in the service of helping people lose their savings.

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

#17

Post by chanfest22 »

brianprovost wrote: post #13

Just signed up and added an exchange. It looks like for balances, you are using just the "free" amount instead of "free" and "locked". The result is that any bids are not reflected in the balance on CoinTracker. I have open orders out almost all the time. I'd recommend either using Free + Locked or at least making it an option. Looks good though, I will definitely use it if it can keep track of all of my trades and a…

Great point! We need to add support for trades that are in stop/limit orders. We'll work on adding support for this.

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

#18

Post by brianprovost »

chanfest22 wrote: post #17
brianprovost wrote: post #13

Just signed up and added an exchange. It looks like for balances, you are using just the "free" amount instead of "free" and "locked". The result is that any bids are not reflected in the balance on CoinTracker. I have open orders out almost all the time. I'd recommend either using Free + Locked or at least making it an option. Looks good though, I will definitely use it if it can keep track of all of my trades and a…

Great point! We need to add support for trades that are in stop/limit orders. We'll work on adding support for this.

Great, thanks!

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

#20

Post by SimbaOnSteroids »

itamarst wrote: post #5
chanfest22 wrote: post #3

Earlier quoted context omitted.

You may be right — the difference between investing and speculation is a fine line and buying and trading cryptocurrency is definitely risky business. We certainly don't deny that. Some pretty interesting industries have gotten bootstrapped with speculation though, and we are hopeful that more practical applications will develop in the future.

Trains got bootstrapped with speculation... but they were clearly useful before the speculation. Same for the Internet. As you admit yourself, cryptocurrencies are a solution looking for a problem. They do nothing, they provide nothing, they're just—"valuable". It's a scam, thousands of people will lose money, and you will have done your part to help those people lose money.

That's a property any sort of investment. Do you decry the existence of Y-Combinator because the majority of the alumni's businesses will fail?
Post reply on HN