Thomas DeMichele, Author at CryptoCurrency Facts

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Author: Thomas DeMichele

Thomas DeMichele has been working in the cryptocurrency information space since 2015 when CryptocurrencyFacts.com was created. He has contributed to MakerDAO, Alpha Bot (the number one crypto bot on Discord), and has worked with some of the biggest names in the space.

Mt. KillYourPortfolio Exploded Yet Again

Posted by Thomas DeMichele on September 6, 2018 in Opinions and Op-Eds

It looks like Mt. KillYourPortfolio (Bitcoin) could be erupting for a fifth time this year, once again covering the citizens of cryptoland (altcoins) in a sea of red lava (red candles). This natural crypto cycle helps to create fertile lush green mountains (green candles), but that is little consolation to those who haven’t sought shelter (HODLers). <—— because altcoins tend to correct harder than bitcoin when bitcoin goes down and sometimes they fail to go up with bitcoin, bitcoin forming little mountains “kills your altcoin portfolio.”

The ETCG Premium Hits Low While GBTC Nears 2018 Lows

Posted by Thomas DeMichele on September 5, 2018 in Opinions and Op-Eds

The ETCG premium is at its lowest point ever, meanwhile the GBTC premium is near its 2018 low (it was lower in February for a day).

Cryptos and Equities Enter Correction Mode

Posted by Thomas DeMichele on in News

For whatever reason, cryptocurrencies and equities both went into correction mode today after both being on a bit of a bull run the past few weeks.

Is Ethereum Dead?

Posted by Thomas DeMichele on September 4, 2018 in Opinions and Op-Eds

Ethereum is stuck under $300 at 2017 prices and losing value against Bitcoin and most alts here in early Sept 2018. Thus it begs the question, “is Ethereum Dead?”

Zclassic Twitter Deletes Bearish Statement and Embraces Forks

Posted by Thomas DeMichele on in News

Zclassic (ZCL) Twitter had an ominous tweet back in April in which it essentially pronounced itself dead, but that Tweet has been removed. Zclassic now seems to support itself and ZCL forks such as Bitcoin Private and Anonymous Bitcoin.

ZCL / BTC Fork Anonymous Bitcoin (ANON) Snapshot is Sept 10th

Posted by Thomas DeMichele on in News

Zclassic (ZCL) and Bitcoin (BTC) are forking to create Anonymous Bitcoin (ANON). The snapshot block will occur on Sept. 10th. Anyone holding either coin during the snapshot will get 2:1 ANON for each ZCL and 1:! ANON for each BTC they hold.

OPINION: The Wash Sale Rule Should Be Applied to Crypto

Posted by Thomas DeMichele on in Opinions and Op-Eds

In my opinion the wash sale rule for securities should be applied to cryptocurrency trading. This rule would help smaller investors avoid potential traps, and would keep those with more money from exploiting loopholes.

OPINION: If the IRS Has Software For Tallying Crypto Profits and Losses… They Should Share it

Posted by Thomas DeMichele on in Opinions and Op-Eds

The average crypto trader who traded crypto with any frequency is likely to fail at properly reporting their crypto profits and losses because the task of calculating everything is overly complex. For the IRS to fine the trader, they will have to tally their profits and losses. If the IRS has software that does this…. they should share it.

OPINION: Crypto Exchanges Should Have Reporting Requirements

Posted by Thomas DeMichele on in Opinions and Op-Eds

In my opinion cryptocurrency exchanges should have reporting requirements. Tallying profits and losses in crypto trading is too complex for the average taxpayer, exchanges should provide this service.

OPINION: Like-Kind Property Exchange Should Apply to Crypto

Posted by Thomas DeMichele on in Opinions and Op-Eds

In my opinion like-kind property rules for real estate should be applied to cryptocurrency trading. This rule would help smaller investors avoid potential traps, and would still require traders to pay taxes on profits.

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