Personal Finance & Money Stack Exchange
Personal Finance & Money Stack Exchange

Questions tagged [cryptocurrency]

A cryptocurrency is a digital or virtual currency that uses cryptography to secure transaction records, to control the creation of additional coins, and to verify the transfer of coin ownership.

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Found a heap of BTC but have no documentation. What do I do?

Many years ago, I bought around 400 BTC for a few hundred dollars (?) and stored them in a hard drive. Shortly after that, I lost this hard drive, wrote it off as an "Oh well" and didn't think anything more of it. Last week I found the hard drive…
SomeGuy
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How is Bitcoin useful as a currency if so few services accept it?

I've done research on bitcoin and I know what it is and how it works, kinda. I've even built a small block chain app. What I don't understand, and I haven't been able to find the answer to, is if I own some bitcoin, how does that help me buy…
King Wilder
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Is this work legal? Someone promises payment for converting money transfers to Bitcoin

An online company hired my friend as an account assistant. They told him they are a business consulting firm, and that they need an account assistant in every area. His job is the following: Some companies send money to my friend's account by…
ashif antor
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A friend asks me all the time to pick up money for her (Western Union, Moneygram)

A friend of mine trades Bitcoin and often asks me to pick up money for her, i.e., someone sends money to me (on my name) and I just pick it up and give it to my friend. The amounts are usually around $500. Is this legal? Can I get into trouble…
ApexAdam
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Why has bitcoin gained so much in the past year?

Over the past year, the value of bitcoin has gone from 1030.82 USD on 3 Jan 2017 to 10755.89 USD today. That's a price increase of 1000%. I'm only an amateur investor, but in my mind that increase is astounding. I've got a couple of non-digital…
stanri
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Is it legal to photograph and test ATMs?

Some online company asked me do a job like this We have a special task for you! Our analyst department collects information regarding Bitcoin ATMs across different states and cities. In most cases, the BTC ATM map doesn’t demonstrate the…
mikeAD
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20% monthly mining vs 5% monthly trading

I recently meet a guy who invested his money in 2 systems. 1) The first one is mining. He gave 20.000 euros to this company ([redacted]) and they promised to give him back 20% a month. There are different tiers, like from 1000 to 10000 you get…
Emil Lazzaroni
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I believe this to be fraud — hired, then asked to cash check and send cash as Bitcoin

I have been "hired" by Nissan Motor as a key account specialist. My first assignment is to cash two checks that I have received. Both were written by a customer who has already received the engines. The total is $2500. I am to cash the checks, get…
john balint
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How does this WhatsApp scam work?

I am trying to work out how this attempted scam on me could possibly work financially for the scammers as it just seems like the time and effort involved as well as the low potential for payoff isn't there. The best way I have to describe the actual…
Arj
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Tax implications of BTC for rent

I'm considering doing a trial run with my tenants and let them pay some or all of their rent in BTC. My motivations: BTC isn't considered a currency so it's taxed as an asset under capital gains tax. I can afford to keep some, if not most, of the…
DotNetRussell
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Why do NFTs have value?

I've seen dozens of articles on NFTs, and not comprehended a single one. So when someone made an NFT of the first Twitter posting, I didn't understand how that would be a means to generate any sort of financial return. Even if the copyright on the…
Mike Serfas
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I bought my first shares in life and they dropped 25% in a very short time. What to do?

I bought Coinbase stocks shortly after IPO. Now my loss at 25%, however, I am in the fortunate position of not being dependent on the invested money. I would like to know in retrospect what I and other Coinbase stock buyers did wrong. What are the…
Sybil
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How do I realize tax losses on a cryptocurrency I can't sell?

I have a bunch of dead coins that don't have any liquidity on exchanges anymore. Is there a way to sell them or report them to the feds somehow so I can harvest my tax losses? I read about a way that involved sending my coins to the 0x000.....…
DNS_Jeezus
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Why are cryptocurrencies not considered proper investments?

I plan to invest a portion of my savings in cryptocurrencies that I understand on a technical level (e.g. Bitcoin and Ethereum). However, otherwise prudent financial advice articles on the internet invariably claim that my decision is unwise.…
user102086
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How do I report a gain in bitcoin that I received as reimbursement for buying a waffle iron?

In 2016 I was visiting a friend in another country and he asked me to bring him a waffle maker (~$35). He paid me back for the waffle maker in Bitcoin. I sold that Bitcoin in 2020 for ~$740. I believe that I need to declare that on my 2020 US Taxes.…
Michael
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