Hi Taylor, Colton and Jason: Great launch and wish you the best. Few issues with login and registration, hope they cleared out. I always thought about a gateway tool or a manager like this without worrying about multiple logins and apps.
Question: Are you also thinking about adding tax related insights when you pull portfolio?
Thanks! Appreciate it. We've had a couple issues related to the cache recently, but I've been re-doing the registration / login flow as well.
In terms of taxes: Absolutely! We've actually been really excited about that side of things for a while, specifically in relation to specific identification tax analysis. What that basically means is that if you bought Bitcoin:
(a) in 2017 at $20k
(b) in March at $60k
(c) and then a few weeks ago at $35k
If you were to sell BTC today at $38k, you should be able to say "Hey! I want to sell the BTC I bought in lot (b), but not the ones from (a) or (c)" since that's technically sell at a loss. The trick to this is that you have to make that designation within 10 days of selling, so the tax feature has to actually be integrated into the trading platform itself.
There are a bunch of things we need to do before we can effectively launch that feature, but it gets me excited every time someone asks.
colbycornish|4 years ago
In terms of taxes: Absolutely! We've actually been really excited about that side of things for a while, specifically in relation to specific identification tax analysis. What that basically means is that if you bought Bitcoin: (a) in 2017 at $20k (b) in March at $60k (c) and then a few weeks ago at $35k
If you were to sell BTC today at $38k, you should be able to say "Hey! I want to sell the BTC I bought in lot (b), but not the ones from (a) or (c)" since that's technically sell at a loss. The trick to this is that you have to make that designation within 10 days of selling, so the tax feature has to actually be integrated into the trading platform itself.
There are a bunch of things we need to do before we can effectively launch that feature, but it gets me excited every time someone asks.
unknown|4 years ago
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